Exhibit 10.7
AMENDMENT TO MASTER LICENSE AGREEMENT
FOR THE TERRITORY OF ITALY
This "Amendment" is made and entered into as of July 22, 2002 by
and among DAYS MASTER ITALIA, S.p.A., a company organized under the laws of
Italy ("Master Licensee") and CENDANT GLOBAL SERVICES, B.V., a private company
with limited liability organized under the laws of the Netherlands.
Recitals. Master Licensee is the Master Licensee under a Master
License Agreement for the Territory of Italy ("xxx Xxxxxxxxx"), dated as of June
1, 2000 (the "Assignee"). The Agreement relates to the granting of a master
license of the Days Inn System to be developed in the Territory. The parties
desire to amend the Agreement as specified in this Amendment.
IN CONSIDERATION of the premises, the mutual promises in this
Amendment, and for other good and valuable consideration, the receipt and
sufficiency of which are acknowledged by the parties, it is agreed as follows:
1. Exhibit C to the Master License Agreement is deleted in its
entirety and replaced by the new Exhibit C attached to this Amendment.
2. To the extent of any conflict between the Agreement and this
Amendment, this Amendment shall control.
3. Except as expressly stated in this Amendment, no further
additions, modifications or deletions to the Agreement are intended by the
parties or made by this Amendment. The Guaranty remains in full force and
effect.
(signature page to follow)
IN WITNESS WHEREOF, the undersigned have executed and delivered
this Amendment effective as of the date first above written.
CENDANT GLOBAL SERVICES B.V.
By: /s/ Xxxx X. Xxxxxxxx Attest: ___________________
Name: Xxxx X. Xxxxxxxx
Title: EVP, Deputy Gen. Counsel
DAYS MASTER ITALIA, S.p.A.
By: /s/ Xxxxxx Xxxxxxxxx Attest: ____________________
Name: Xxxxxx Xxxxxxxxx
Title: President
EXHIBIT C
TO THE MASTER LICENSE AGREEMENT
AMENDED DEVELOPMENT SCHEDULE
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Deadline Rooms to be Opened Total Rooms
prior to Deadline
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08/30/03 45 45
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12/31/03 75 120
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06/30/04 120 240
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12/31/04 120 360
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12/31/05 120 480
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12/31/06 240 720
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12/31/07 120 840
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12/31/08 120 960
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12/31/09 120 1080
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12/31/10 120 1200
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2011 - 2015 600 1800
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2016 - 2020 600 2400
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2021 - 2025 600 3000
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