FIRST AMENDMENT TO LEASE
EXHIBIT 10.23(b)
FIRST AMENDMENT TO LEASE
This First Amendment to Lease dated September 1, 2000 is executed by and between Syufy
Enterprises, L.P. (“Landlord”) and Century Theatres, Inc. (“Tenant”).
WITNESSETH:
WHEREAS, Landlord and Century Theatres of California, Inc. entered into a lease dated
September 30, 1995 (the “Lease”) for a motion picture theater building and related parking (the
“Premises”) located on Winchester Boulevard in San Jose, California; and
WHEREAS, Century Theatres, Inc., a Delaware corporation, has succeeded Century Theatres
of California, Inc., as Tenant; and
WHEREAS, Century Theatres, Inc. has assumed all obligations of Century Theatres of
California, Inc., as set forth in the Lease; and
WHEREAS, the parties desire now to amend the Lease to revise and clarify certain
obligations between the parties, as hereinafter provided;
NOW, THEREFORE, the parties hereto mutually agree that the Lease shall be amended as follows:
A. Consumer Price Index
The reference in the first grammatical paragraph of Section 4.01(B) of the Lease to the “San
Francisco-Oakland-San Xxxx Average” is hereby deleted and in its place is inserted the “All West
Average,” and the following sentence shall be added to this first grammatical paragraph of Section
4.01(B):
Notwithstanding the foregoing, in no event shall the Minimum Monthly Rent be increased
by an amount that is more than fifteen percent (15%) of the Minimum Monthly Rent payable before
the adjustment date in question.
X. Xxxxx Sales
The second paragraph of Section 4.02 is hereby deleted and in its place is inserted the
following paragraph:
Gross Sales shall mean all box office receipts, including receipts from tickets or
gift certificates redeemed at the premises regardless of their point of sale, as well as
receipts from sale of goods, merchandise, beverages, food, vending machines and video
games. Gross Sales shall exclude credits and refunds made with respect to admissions or
other sales; all federal, state, county and city
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admission taxes, sales and use taxes, and other similar taxes now or hereafter imposed
whether such taxes are collected from customers separately from the selling price of
admission tickets or absorbed therein, and actually paid over to the taxing authority by
Tenant; returned, exchanged, waived or “Pass Admissions” including EBF charges on “Pass
Admissions;” and receipts from tickets or gift certificates sold but not redeemed at the
Premises. Commissions or surcharges paid to agencies or other third parties for selling
tickets or processing credit card transactions, and any sums paid to third parties for the
use or rental of vending machines, pay telephones or other amusement machines shall be
deducted from Gross Sales.
C. Insurance
The reference in Section 6.03(D) to a Bests rating of “A-” is hereby deleted and in its place
inserted a Bests rating of “A-/VII”
D. Alterations
The last sentence of Section 7.01(A) is hereby deleted and its place inserted the following:
If the change, alteration or addition is structural or exterior in nature, Tenant
shall provide Landlord with a copy of Tenant’s plans and specifications for the work and
obtain Landlord’s written approval therefore, which approval shall not be unreasonably
delayed or withheld.
E. Indemnity and Hold Harmless
The indemnity rights set forth in Sections 9.02 and 10.01 are hereby expanded to include an
obligation by Tenant to defend, indemnify and hold harmless both Landlord and Landlord’s corporate
affiliates, as well as their respective officers, directors, agents, and employees, in each
instance where the right of indemnity would be accorded to Landlord.
F. Assignment
The reference in Section 11.01(C) to “$20,000,000.00” is hereby deleted and replaced
with “$30,000,000.00, as adjusted each year by the CPI index identified in Section 4.01(B)”
G. Surrender
After the first sentence of Section 15.02(E), the following sentence is hereby
inserted:
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Alternatively, Landlord may elect in its sole and absolute discretion to require
Tenant to demolish the Tenant-occupied improvements located on the Premises and remove
all surface debris thereon.
This First Amendment to Lease is hereby executed and shall be effective as of the date first
written above. All other conditions of the Lease, or the executed amendments thereto, if any, shall
remain in effect.
SYUFY ENTERPRISES, L.P.
“Landlord”
|
CENTURY THEATRES, INC. “Tenant” | |
/s/ Xxxxxxx X. Xxxxx
|
/s/ Xxxxxx Xxxxx | |
Xxxxxxx X. Xxxxx
|
Xxxxxx Xxxxx | |
Chief Executive Officer
|
President |
[STAMP]
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