Exhibit 4.8
AMENDMENT NO. 3
Dated as of December 23, 1999
to
MASTER LEASE AND SECURITY AGREEMENT
between
Rite Aid Realty Corp.
and
RAC Leasing LLC
Amendment No. 3, dated as of December 23, 1999 ("Amendment No. 3"),
between RAC Leasing LLC, a Wyoming limited liability company, as lessor
("Lessor"), and Rite Aid Realty Corp., a Delaware corporation, as lessee
("Lessee"), amending the Lease referred to below.
WHEREAS, Lessor and Lessee have heretofore entered into a Master Lease
and Security Agreement, dated as of March 19, 1998, (as amended by
Amendment No. 1, dated as of June 22, 1998, and Amendment No. 2 dated as of
October 25, 1999, the "Lease"); and
WHEREAS, Lessor and Lessee wish to further amend the Lease as
hereinafter provided;
NOW, THEREFORE, Lessor and Lessee hereby agree as follows:
Section 1. Amendments to the Lease. (a) The Commitment of the
Lessor set forth on Annex 1 to the Lease is hereby amended in its entirety
to read as set forth on Annex 1 attached hereto.
(b) The Commitment of the Lessor set forth on the signature pages to
Lease Supplement No. 1 to the Lease, dated as of June 22, 1998 is hereby
reduced by $12,050,000 to $35,850,000.
Section 2. Counterparts. This Amendment No. 3 may be executed in
several counterparts, each of which when executed and delivered shall be
deemed an original and all of which counterparts, taken together, shall
constitute but one and the same Amendment No. 3.
Section 3. Governing Law THIS AMENDMENT NO. 3 SHALL IN ALL
RESPECTS BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK.
Section 4. Continuing Effect Except as herein provided, all
provisions, terms and conditions of the Lease shall remain in full force
and effect. As amended hereby, the Lease is ratified and confirmed in all
respects.
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page]
IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 3 to
be duly executed as of the date first above written.
RITE AID REALTY CORP.,
as Lessee
By: ____________________________________
Name:
Title:
RAC LEASING LLC, as Lessor
By: The Diversified Group Incorporated,
Manager
By: _______________________________
Name:
Title: