INDENTURE dated as of September 21, 2017 among Station Casinos LLC, a Nevada limited
liability company, the Guarantors (as defined) and Wells Fargo Bank, National Association, a national banking association, as trustee.
The Company, the Guarantors and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the
Holders (as defined) of the 5.000% Senior Notes due 2025 (the Notes):
DEFINITIONS AND INCORPORATION
Section 1.01 Definitions.
144A Global Note means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend
and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that will be issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule
Acquired Debt means, with respect to any specified Person, Indebtedness of another Person and any of such other
Persons Subsidiaries existing at the time such other Person becomes a Subsidiary of such Person or at the time it merges or consolidates with such Person or any of such Persons Subsidiaries or is assumed by such Person or any Subsidiary
of such Person in connection with the acquisition of assets from such other Person and in each case not Incurred by such Person or any Subsidiary of such Person or such other Person in connection with, or in anticipation or contemplation of, such
other Person becoming a Subsidiary of such Person or such acquisition, merger or consolidation.
Notes means additional Notes (other than the Initial Notes) issued under this Indenture in accordance with Sections 2.02 and 4.09 hereof, as part of the same series as the Initial Notes.
Affiliate means, when used with reference to any Person, any other Person directly or indirectly controlling, controlled
by, or under direct or indirect common control with, the referent Person. For the purposes of this definition, the term control when used with respect to any specified Person means the power to direct or cause the direction of management
or policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms affiliated, controlling and controlled have meanings correlative of
Agent means any Registrar, co-registrar, Paying Agent or additional paying agent.
Applicable Procedures means, with respect to any transfer or exchange of or for beneficial interests in any Global Note,
the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange.
Premium means with respect to any Note on any Redemption Date, as determined by the Company, the greater of:
1.0% of the principal amount of the Note; and