First Amendment to Lease Agreement
Exhibit 10.2
First Amendment to Lease Agreement
This First Amendment to Lease Agreement (the “Amendment Agreement”) is made by and among Hyundai Investment Co., Ltd. (hereinafter referred to as “Collective Investment Entity”, in the status of the collective investment entity of Hyundai Private Equity Real Estate Investment Trust No. 15), a going concern established under the laws of the Republic of Korea whose head office is located at 00 Xxxxxxxx-xxxxx (Xxxxxxx-xxxx), Xxxxxxxxxxxx-xx, Xxxxx, Xxxxxxxx of Korea, Hana Bank, Ltd. (hereinafter referred to as “Lessor”, in the status of the trust company of Hyundai Private Equity Real Estate Investment Trust No. 15), a going concern established under the laws of the Republic of Korea whose Head Office is located at 00 Xxxxx-xx (Xxxxxxx 0-xx), Xxxx-xx, Xxxxx, Xxxxxxxx of Korea, hereby agrees with Coupang Corp. (hereinafter referred to as “Lessee”), a going concern established under the laws of the Republic of Korea whose Head Office is located at 18th Floor, 570 Songpa-daero (Shincheon-dong), Songpa-gu, Seoul, to amend the Lease Agreement (hereinafter referred to as “Original Agreement”) that had been executed between the parties on September 13, 2016 as follows (hereinafter referred to as “the Agreement”):
1.In the Agreement, “Lessor” and “Lessee” hereby agree to amend the tradename, leased area, lease deposit, monthly rent and monthly maintenance fee on the lease property as noted below pursuant to Article 6 (Changes and Lessee’s Fixtures) of “the Original Agreement”):
- Note -
| Category | Before Amendment | After Amendment | Description of Amendment | ||||||||
| Trade Name | Forward Ventures, Ltd. | Coupang Corp. | Change of trade name (Mar. 28, 2017) | ||||||||
| Leased Area | 56,164.72m2 | 56,220.04m2 | Increase in the Lessee’s expansion area on the 17th floor (55.32m2) | ||||||||
| Lease Deposit | 11,892,879,460 won | 11,904,593,474 won | Monthly rent and monthly maintenance fee (Value added tax not included) | ||||||||
| Monthly Rent | 1,359,186,224 won | 1,360,524,968 won | |||||||||
| Monthly Maintenance Fee | 509,694,834 won | 510,196,861 won | |||||||||
- Refer to Attachment 1. Amended Leased Area Table.
2.“Lessor” and “Lessee” shall apply the amended information described in Paragraph 1 from March 30, 2017 (hereinafter referred to as “Amendment Date”), which is the day of the permission of the expansion and major repair. The amended monthly rent shall be subject to the provisions set forth in “Original Agreement”, Appendix, 3. Rent mutandis mutatis. Whereas the monthly maintenance fee shall be subject to the provisions set forth in “Original Agreement”, Appendix, 5. Maintenance Fee mutandis mutatis as of “Amendment Date” to settle the differences. The difference in the amount of the lease deposit in the amount of 11,714,014 won shall be remitted to the account of the Lessor’s designation shown below within five (5) days of the Agreement’s execution date.
| Bank | Accountholder | Payee Account | ||||||
| Hana Bank | Trustee Marketing Division of Hana Bank Hyundai Private Equity No. 15 Lease Deposit | 000-000000-00000 | ||||||
3.The Lessor shall provide the Lessee with security on the difference in the amount of the amended lease deposit shown in Paragraph 2 of the Agreement in accordance with Article 15, Paragraph 1 of “the Original Agreement”.
4.In the event of any conflict in the interpretation between the Amendment Agreement and “the Original Agreement”, the Amendment Agreement shall prevail. Unless otherwise stipulated, the terms and conditions set forth in “Original Agreement” shall continue to maintain force.
IN WITNESS WHEREOF, the Amendment Agreement shall be executed in triplicates for each party to sign and seal and keep a set.
Date: , 2017
Lessor
Hana Bank, Ltd.
(In the status of the trust company of Hyundai Private Equity Real Estate Investment Trust Xx. 00)
00 Xxxxx-xx (Xxxxxxx 0-xx), Jung-gu, Seoul
Representative Director Xxxx Xxxxx-Xx
Xxxx Xxx-Xxxxx, Trustee Marketing Div., as the Manager of the Above (Seal) Divisional Manager of the Trustee Marketing Division
Collective Investment Entity
Hyundai Investment Co., Ltd.
(In the status of the collective investment entity of Hyundai Private Equity Real Estate Investment Trust Xx. 00)
00 Xxxxxxxx-xxxxx (Xxxxxxx-xxxx), Xxxxxxxxxxxx-xx, Xxxxx
Representative Director Xxx Xxxx-Joong (Seal) Representative Director, Hyundai Investment Co., Ltd.
Lessee
Coupang Corp.
18th Floor, 570 Songpa-daero (Shincheon-dong), Songpa-gu, Seoul
Representative Director Xxx Xxxx-Xxxx (Seal) Representative Director, Coupang Corp.
Attachment 1. Leased Area Table
