Exhibit 10.3
GUARANTEE
12.750% Senior Subordinated
Discount Notes due 2013
Each entity listed on the signature
page hereto (hereafter referred to as a “ Guarantor
,” which term includes any successors or assigns under the
Indenture, dated as of December 20, 2004, among the Issuers (as
defined below), the Guarantors (as defined therein) and The Bank of
New York Trust Company, N.A., as trustee (the “
Indenture ”), as amended or supplemented by any
amendments or supplemental indentures thereto), has executed either
the Indenture or a supplemental indenture in substantially the form
attached as Exhibit E to the Indenture and has irrevocably and
unconditionally guaranteed on a senior secured basis the Guarantee
Obligations (as defined in Section 11.1 of the Indenture), which
include: (i) (A) the due and punctual payment in full of the
principal of and premium, if any, and Interest and Liquidated
Damages, if any, on the 12.750% Senior Subordinated Discount Notes
due 2013 (the “ Notes ”) of Virgin River Casino
Corporation, a Nevada corporation (“ Virgin River
”), RBG, LLC, a Nevada limited-liability company (“
RBG ”), and B & B B, Inc., a Nevada corporation
(“ B&BB ” and, collectively with Virgin
River and RBG, the “ Issuers ,” which term
includes any successors to any of such persons under the
Indenture), whether at maturity, by acceleration, call for
redemption, upon a Change of Control Offer, an Asset Sale Offer or
otherwise, (B) the prompt payment in full of all Interest on
overdue principal of and premium, if any, and (to the extent
permitted by law) Interest on any Interest, if any (and Liquidated
Damages, if any), on the Notes, and (C) the due and punctual
payment when due and performance of all other Obligations of the
Issuers to the Holders or the Trustee under the Notes, the
Indenture, the Collateral Agreements and the Registration Rights
Agreement (including fees, expenses or otherwise), all in
accordance with the terms thereof; and (ii) in case of any
extension of time of payment or renewal of any Notes or any of such
other Obligations, the due and punctual payment when due and
performance of the same in accordance with the terms of the
extension or renewal, whether at stated maturity, by acceleration,
call for redemption, upon a Change of Control
