Applicable Margin Uses in Applicable Margin Clause

Applicable Margin from Joinder Agreement

This Incremental Joinder Agreement No. 3, dated as of May 10, 2017 (this Agreement), by and among STATION CASINOS LLC, a Nevada limited liability company (the Borrower), the Guarantors party hereto, Red Rock Resorts, Inc. (RRR), Station Holdco LLC (Holdco, and together with the Borrower, the Guarantors party hereto and RRR, the Station Parties), each of the INCREMENTAL TERM B LENDERS (as hereinafter defined) party hereto and DEUTSCHE BANK AG CAYMAN ISLANDS BRANCH, as administrative agent under the Credit Agreement referred to below (in such capacity, the Administrative Agent).

Applicable Margin. The Applicable Margin for any Loans made pursuant to the Incremental Term B Loan Commitments (any such loans, the Incremental Term B Loans) shall be the same as the Applicable Margin with respect to the existing Term B Facility Loans.

Applicable Margin from Joinder Agreement

This Incremental Joinder Agreement, dated as of January 30, 2017 (this Agreement), by and among STATION CASINOS LLC, a Nevada limited liability company (the Borrower), the Guarantors party hereto, Red Rock Resorts, Inc. (RRR), Station Holdco LLC (Holdco, and together with the Borrower, the Guarantors party hereto and RRR, the Station Parties), each of the INCREMENTAL TERM B LENDERS (as hereinafter defined) party hereto and DEUTSCHE BANK AG CAYMAN ISLANDS BRANCH, as administrative agent under the Credit Agreement referred to below (in such capacity, the Administrative Agent).

Applicable Margin. The Applicable Margin for any Loans made pursuant to the Incremental Term B Loan Commitments (any such loans, the Incremental Term B Loans) shall be the same as the Applicable Margin with respect to the existing Term B Facility Loans.