10.72
FIRST AMENDMENT TO LEASE BETWEEN REGISTRANT AND
CLUB AT 60TH STREET, INC. DATED MARCH 1, 2002
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FIRST AMENDMENT TO LEASE
This FIRST AMENDMENT TO LEASE is made and entered into March 1, 2002 by and
among THE SPORTS CLUB COMPANY, INC. ("Landlord") and CLUB AT 60TH, INC., a New
York corporation ("Tenant"), with reference to the following recitals:
RECITALS:
A. WHEREAS, Landlord and Tenant entered into that certain Lease dated as
of July 28, 2001 ("Lease"), wherein Tenant leased from Landlord
premises commonly known as the basement floor space of the building
designated as 000 Xxxx 00xx Xxxxxx, Xxx Xxxx, Xxx Xxxx, and more
particularly described in the Lease;
B. WHEREAS, Tenant has been requested to delay the commencement date and
has agreed to do so to allow Landlord to settle litigation with
"Scores";
C. WHEREAS, to compensate Tenant for the aforementioned delay, Landlord
and Tenant desire to amend the Lease as more particularly set forth
below.
NOW, THEREFORE, in consideration of the mutual covenants made herein and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Landlord and Tenant hereby agree as follows:
1. DEFINITIONS. All terms defined in the Lease shall have the same
meaning when used in this Amendment, unless otherwise specified.
2. REFERENCES TO LEASE. Unless the context requires otherwise, all
references to the "Lease" in the Lease shall hereafter be deemed to
mean the Lease as amended by this Amendment.
3. OPTION TO RENEW. All references in paragraphs 1.9 and 3.3 to two
consecutive five (5) year options shall be deleted and replaced with
three consecutive options, the first two options for five (5) years
each and the third for seven (7) years. Such renewal options shall be
on the same terms and conditions set forth in the Lease, save and
except the right of further renewal and the annual rental rate.
4. MINIMUM RENT DURING OPTION TERMS. The Minimum Rent during the third
Option Terms shall be:
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MONTHS OF TERM MINIMUM RENT PER MONTH
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Month 241 through Month 300 $183,012.50
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Month 301 through Month 324 $201,313.75
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5. AUTHORIZATION. Each individual and entity executing this Amendment
hereby represents and warrants that it has the capacity set forth on
the signature pages hereof with the full power and authority to bind
to the terms hereof the party on whose behalf it is executing this
Amendment.
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IN WITNESS WHEREOF, Landlord and Tenant have caused their duly authorized
representatives to execute this Amendment as of the date first written above.
LANDLORD: THE SPORTS CLUB COMPANY, INC.
By: /s/ Xxxxxxx X'Xxxxx
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Its: Chief Financial Officer
TENANT: CLUB at 60th, INC.
By: /s/ Xxxxxxx Xxxxxxx
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Its: President
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