Duplicate
Memorandum of Amendment
Attached to the Building Space Lease Agreement
Bangkok International Airport
No. 1-01/2545, dated November 20, 2001
1st Amendment
This memorandum is made at the Airports Authority of Thailand on April
30, 2002 between the Airports Authority of Thailand, by Flight Lieutenant X.X.
Xxx Ngonrot, Director of Bangkok International Airport acting for Managing
Director of the Airports Authority of Thailand, hereinafter called, the "lessor"
on one party and King Power Duty Free Co., Ltd., registered as a juristic person
as a limited company under the Civil and Commercial Code, with head office at
No. 989, 26th-27th Floors, Siam Tower, Rama I Road, Pathum Wan Sub-district,
Pathum Wan District, Bangkok Metropolis, by Mr. Viratana Suntaranond, authorized
to oblige King Power Duty Free Co., Ltd., according to the Certificate of
Bangkok Company/Partnership Registration Office, No. 2235, dated February 15,
2002, hereinafter called, "lessee" on the other party.
Whereas the lessor agrees to lease out and the lessee agrees to lease
space in Bangkok International Airport according to Agreement No. 1-01/2545,
dated November 20, 2001 for 3 years from January 1, 2002 to December 31, 2004.
Whereas the lessor agrees to lease out and the lessee agrees to lease
additional space in the International Terminal, Bangkok International Airport,
namely, Area No. 1901 of 7 square meters from January 1, 2002 and Area No. 3710
of 102.50 square meters from January 16, 2002.
Therefore, both parties agree to make this memorandum as follows:
Section 1. Add documents 1, 2 and 3 to Appendix A attached to this
memorandum as Sheets Xx. 0, 0 xxx 0 xx Xxxxxxxx A attached to Agreement No.
1-01/2545, dated November 20, 2001.
Section 2. To make this memorandum, the lessee has submitted a Letter
of Guarantee, No. Khor. 105-02-00068-2/022, dated March 12, 2002, issued by the
Siam Commercial Bank Public Co., Ltd., Choet Wutthakat (Don Mueang) Branch, for
an amount of Bt137,724 (one hundred and thirty-seven thousand seven hundred and
twenty-four Baht) to the lessor as performance guarantee for the execution of
Agreement No. 1-01/2545, dated November 20, 2001. The lessor shall return the
said performance guarantee to the lessee as soon as the lessee is relieved of
any obligations under the Agreement.
Section 3. Other statements in Agreement No. 1-01/2545, dated November
20, 2001 asides from what's specified in Sections 1 and 2 of this memorandum
shall continue to be enforceable.
Section 4. This memorandum shall go into effect on January 1, 2002
onwards.
This memorandum is made in duplicated copies. Both parties, having read
and understood it entire, hereunder sign their names and affix seal (if any) in
the presence of witnesses and each retaining one copy.
The Lessor The Lessee
---------- ----------
F. Lt. ..... Signed .... .... Signed ....
(X.X. Xxx Ngonrot) (Mr. Viratana Suntaranond)
(Seal of King Power Duty Free Co.,Ltd.)
Witness Witness
------- -------
..... Signed .... .... Signed ....
(Mr. Krit Phakhakit) (Miss Sarinthorn Chongchaidejwong)
The Siam Commercial Bank Public Co., Ltd.
Letter of Guarantee
105-60-00076-5
No. Khor. 105-02-00068-2/022 March 12, 2002
We, the Siam Commercial Bank Public Co., Ltd., Choet Wutthakat Road (Don Mueang)
Branch, located at Xx. 000/000, Xxxxxxx Xx. 00, Xxxxx Xxxxxxxxx Xxxx, Xx Kan
Sub-district, Don Mueang District, Bangkok Metropolis, hereby issues this Letter
of Guarantee to the Airports Authority of Thailand, as follows:
1. Whereas King Power Duty Free Co., Ltd. has signed a Building Space
Lease Agreement in Bangkok International Airport, for the lease of Area
No. 1901 and 3710, Agreement No. 1-01/2545, that requires a performance
guarantee of Bt137,724(one hundred and thirty-seven thousand seven
hundred and twenty-four Baht) with the Airports Authority of Thailand,
We agree to bind ourselves as the guarantor of King Power Duty Free Co.,
Ltd. to the Airports Authority of Thailand for an amount not exceeding
Bt137,724(one hundred and thirty-seven thousand seven hundred and
twenty-four Baht). That means, if King Power Duty Free Co., Ltd. fails
to comply with the Agreement with the Airports Authority of Thailand,
or is in breach of any clauses in the said Agreement, thereby the
Airports Authority of Thailand is entitled to forfeit the performance
guarantee or impose fines to and/or claim for damage from King Power
Duty Free Co., Ltd., we shall promptly make payment on behalf of and
without requesting King Power Duty Free Co., Ltd. to make such payment
first.
2. We acknowledge and agree in every case in which the Airports Authority
of Thailand grants extension or leniency for compliance with the
Agreement to King Power Duty Free Co., Ltd., provided that the Airports
Authority of Thailand notifies us without delay.
3. The Letter of Guarantee is valid from January 1, 2002 to December 31,
2004.
As evidence hereof, we the Siam Commercial Bank Public Co., Ltd., Choet
Wutthakat Road (Don Mueang) Branch, by the undersigned who are empowered to
enter juristic act binding the bank, hereunder sign our names and affix the bank
seal.
.......Signed...... ......Signed......Guarantors
(Mr. Sarayut Phoempakdi) (Mr. Kitcha Pariyaphruet)
Acting for the President
(Seal of the Siam Commercial Bank Public Co., Ltd.)
......Signed......Witness
(Xx. Xxxxxxx Hongron)
......Signed......Witness
(Mr. Bunmi Nueangnipanond)
Appendix A
Details of Lease Remuneration and Layout of Leased Premises
Attached to Memorandum of Amendment to Agreement No. 1-01/2545,
dated November 20, 2001
1st Amendment
Sheet No. 1
----------- --------------- ------------ ------------- ------------- --------------- ----------- -----------------------------------
Leased Area in Rent Rate Total Rents Service Fee Building/Land Indemnity Lease Period
Premises Square Meters Baht/Month Baht/Month Bt/Month Tax (Bt/M Bt/Day
----------- --------------- ------------ ------------- ------------- --------------- ----------- -----------------------------------
From To
----------- --------------- ------------ ------------- ------------- --------------- ----------- ---------------- ------------------
Room and building space in Xxxxxxxxxxxxx Xxxxxxxx 0, Xxxxxxx International Airport
==================================================================================-- ----------- ---------------- ------------------
- No. 1901 7.00 325.00 2,275.00 341.25 284.38 193.38 January 1, 2002 December 31, 2004
----------- --------------- ------------ ------------- ------------- --------------- ----------- ---------------- ------------------
- No. 3710 102.50 325.00 33,312.50 4,996.88 4,164.06 2,831.56 January 16, 2002 December 31, 2004
----------- --------------- ------------ ------------- ------------- --------------- ----------- ---------------- ------------------
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