Lease Agreement
This agreement is made at Bangkok Inter-Continental Hotels Co., Ltd., on 25 July
2000,
between
Bangkok Inter-Continental Hotels Co., Ltd., with offices at 979 Rama I Road,
Pathum Wan Sub-district, Pathum Wan District, Bangkok Metropolis, hereinafter
called the "Lessor" of one part,
and
King Power Duty Free Co., Ltd. (with 1. Mr. Xxxxxx Xxxxxxxxxxxx; 2. Mr. Viratana
Suntaranond; 3. Xx. Xxxxx Panyapas; 4. Mrs. Aimon Boonkhundha; 5. Xx. Xxxxxx
Dechapanichkul; 6. ACM Nipon Sakornyen; 7. Mr. Tawat Anukoon; 8. Flight Lt. X.X.
Xxx Ngonrath; 9. Flight Lt. Pradit Mongkolapibal; 10. Flight Lt. Usar Borisuth;
11. Mr. Bancha Pattanapon, as Directors, whereby the number or name of Director
authorized to sign binding the Company is "Either Mr. Xxxxxx Xxxxxxxxxxxx or Mr.
Viratana Suntaranond is to sign and affix the Company seal," represented by Mr.
Viratana Suntaranond, the authorized Director, with the head office at 26th,
27th Floors, Siam Tower, 989 Rama I Road, Pathum Wan Sub-district, Pathum Wan
District, Bangkok Metropolis, and the leased premises on the 27th Floor, Siam
Tower, hereinafter called the "Lessee" of the other part. Whereas
(a) The Lessor is the owner of the spaces in the building called "Siam
Tower," situated at 989 Rama I Road, Pathum Wan Sub-district, Pathum Wan
District, Bangkok Metropolis, (hereinafter called the "Office Building")
and
(b) The Lessee wishes to lease and the Lessor agrees to lease out the space
in the said office building.
Both parties, having read and understood the terms and conditions of the lease
as appear in the attachment, which shall be deemed part of this lease agreement,
and agree to enter this agreement as follows :
1. The Lessor agrees to lease out and the Lessee agrees to lease the office
space on the 27th Floor of the office building, covering an area of 1,364
square metre, which the Lessor and the Lessee have inspected accordingly
(hereinafter called the "leased premises"), with the location and details
as appear in the colored area in the attached chart, which shall be
deemed part of this Lease Agreement.
2. The lease period shall be from 1 November 2000 to 31 October 2003,
whereby the Lessor and the Lessee agree on the rents throughout the lease
period, as follows :
2.1 From 1 November 2000 to 31 October 2001, the rents shall be Baht
174.00/square metre (One Hundred Seventy-Four Baht Only), totaling
Baht 237,336.00 (Two Hundred Thirty-Seven Thousand Three Hundred
Thirty-Six Baht Only).
2.2 From 1 November 2001 to 31 October 2002, the rents shall be Baht
183.00/square metre (One Hundred Eighty-Three Baht Only), totaling
Baht 249,612.00 (Two Hundred Forty-Nine Thousand Six Hundred
Twelve Baht Only).
2.3 From 1 November 2002 to 31 October 2003, the rents shall be Baht
191.00/square metre (One Hundred Ninety-One Baht), totaling Baht
260,524.00 (Two Hundred Sixty Thousand Five Hundred Twenty-Four
Baht Only).
3. The Lessee agrees to pay the rents to the Lessor commencing 1 November
2000.
4. The Lessee agrees to make use of the leased premises for offices only.
5. The Lessee shall undertake decoration of the leased premises and open for
business by -. In case the Lessee shall be unable to open for business on
the said date due to force majeure according to Clause 13 of the terms
and conditions of the lease, for which the Lessee has notified in writing
to the Lessor within 3 (three) days from the date of the said incident
and the Lessor has approved it, or handing over of the leased premises
under Clause 2 of the terms and conditions of the lease was delayed, the
Lessor shall postpone collection of the rents and other money the Lessee
is to pay the Lessor for the same period as the force majeure or the
delay of the handing over of accordingly.
6. As security for compliance with the agreement of the Lessee and for any
damage which may occur to the Lessor, the Lessee agrees to place the
security deposit to the Lessor for the amount equivalent to the maximum 3
(three)-month rents, totaling Baht 781,572.00 (Seven Hundred Eighty-One
Thousand Five Hundred Seventy-Two Baht Only). On the signing date of this
agreement, the Lessee has placed the security deposit of Baht 781,572.00
(Seven Hundred Eighty-One Thousand Five Hundred Seventy-Two Baht Only) to
the Lessor accordingly.
7. Prior to undertaking decoration, the Lessee shall place a security
deposit for decoration of Baht -. If payment is made by cheque, the
payment shall be complete only after the Lessor has collected the money
accordingly.
8. Payment by cheque to the Lessor under any circumstances shall be deemed
as complete only after the Lessor has collected the money accordingly.
This agreement is made in duplicated copies. Both parties, having read and
understood it entirely, hereunder sign their names and affix seal (if any) in
the presence of witnesses.
(Seal of King Power Duty Free Co., Ltd.)
Lessor Bangkok Inter-Continental Hotels Co., Ltd.
------
Lessee King Power Tax Free Co., Ltd.
------
By - signed - By - signed -
(Xx. Xxxxxx Xxxxxxxxxxx) (Mr. Viratana Suntaranond)
- signed -
(Mrs. Chadatip Jutrakul)
Witness
- signed -
(Mrs. Panchai Thong-urai)
- signed -
(Mr. Naruenat Numahan)
Service Contract
This contract is made at Bangkok Inter-Continental Hotels Co., Ltd., on 25 July
2000,
between
Bangkok Inter-Continental Hotels Co., Ltd., with offices at 979 Rama I Road,
Pathum Wan Sub-district, Pathum Wan District, Bangkok Metropolis, hereinafter
called the "Service Provider" of one part,
and
King Power Duty Free Co., Ltd. (with 1. Mr. Xxxxxx Xxxxxxxxxxxx; 2. Mr. Viratana
Suntaranond; 3. Xx. Xxxxx Panyapas; 4. Mrs. Aimon Boonkhundha; 5. Xx. Xxxxxx
Dechapanichkul; 6. ACM Niphn Sakornyen; 7. Mr. Tawat Anukoon; 8. Flight Lt. X.X.
Xxx Ngonrath; 9. Flight Lt. Pradit Mongkolapibal; 10. Flight Lt. Usar Borisuth;
11. Mr. Bancha Pattanapon, as Directors, and the number or name of Director
authorized to sign binding the Company : "Either Mr. Xxxxxx Xxxxxxxxxxxx or Mr.
Viratana Suntaranond is to sign and affix the Company seal," represented by Mr.
Viratana Suntaranond, the authorized Director, with the head office at 26th,
27th Floors, Siam Tower, 989 Rama I Road, Pathum Wan Sub-district, Pathum Wan
District, Bangkok Metropolis, and the servicing premises on the 27th Floor, Siam
Tower, hereinafter called the "Service Receiver" of the other part. Whereas
(a) The Service Receiver has entered into the Lease Agreement with the
Service Provider for leasing the office space in the building called
`Siam Tower," situated at 989 Rama I Road, Pathum Wan Sub-district,
Pathum Wan District, Bangkok, for the total area of 1,364 square metre
(hereinafter called the "leased premises") and
(b) The Service Provider agrees to provide the services for the benefits of
the Service Receiver and the leased premises, and the Service Receiver
wishes to receive the said services.
Both parties, having read and understood the terms and conditions of the
services as appear in the attachment, which shall be deemed part of this Service
Contract, and agree to enter this contract as follows :
1. The Service Provider agrees to provide and the Service Receiver agrees to
receive the services, details of which appear in the attachment, for the
period from 1 November 2000 to 31 October 2003, whereby the Service
Provider and the Service Receiver agree on the service fees throughout
the lease period, as follows :
1.1 From 1 November 2000 to 31 October 2001, the service fee shall be
Baht 226.00/square metre (Two Hundred Twenty-Six Baht Only),
totaling Baht 308,264.00 (Three Hundred and Eight Thousand Two
Hundred Sixty-Four Baht Only).
1.2 From 1 November 2001 to 31 October 2002, the service fee shall be
Baht 237.00/square metre (Two Hundred Thirty-Seven Baht Only),
totaling Baht 323,268.00 (Three Hundred Twenty-Three Thousand Two
Hundred Sixty-Eight Baht Only).
1.3 From 1 November 2002 to 31 October 2003, the service fee shall be
Baht 249.00/square metre (Two Hundred Forty-Nine Baht Only),
totaling Baht 339,636.00 (Three Hundred Thirty-Nine Thousand Six
Hundred Thirty-Six Baht Only).
2. The Service Receiver agrees to pay the service fees to the Service
Provider commencing 1 November 2000.
The monthly service fee shall be paid in advance, by the 5th of every
month. If the 5th of any month falls on a holiday of the Service
Provider, payment shall be postponed to the following working day.
3. As security for compliance with the contract of the Service Receiver and
for any damage which may occur to the Service Provider, the Service
Receiver agrees to place the security deposit to the Service Provider for
the amount equivalent to the maximum 3 (three)-month service fees,
totaling Baht 1,018,908.00 (One Million Eighteen Thousand Nine Hundred
and Eight Baht Only), not including the value added tax. On the signing
date of this contract, the Service Receiver has placed the security
deposit of Baht 1,018,908.00 (One Million Eighteen Thousand Nine Hundred
and Eight Baht Only) to the Service Provider accordingly.
This contract is made in duplicated copies. Both parties, having read and
understood it entirely, hereunder sign their names and affix seal (if any) in
the presence of witnesses.
(Seal of King Power Duty Free Co., Ltd.)
Service Provider Bangkok Inter-Continental Hotels Co., Ltd.
-----------------
Service Receiver King Power Tax Free Co., Ltd.
-----------------
By - signed - By - signed -
(Xx. Xxxxxx Xxxxxxxxxxx) (Mr. Viratana Suntaranond)
- signed -
(Mrs. Chadatip Jutrakul)
Witness
- signed -
(Mrs. Panchai Thong-urai)
- signed -
(Mr. Naruenat Numahan)
