Exhibit 4.22
AMENDMENT NO. 1
Dated as of March 11, 1998
to
MASTER LEASE AND SECURITY AGREEMENT
between
Rite Aid Realty Corp.
and
Sumitomo Bank Leasing and Finance, Inc.
Amendment No. 1, dated as of March 11, 1998 ("Amendment No.
1"), between Sumitomo Bank Leasing and Finance, Inc., a Delaware
corporation, 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 May 30, 1997 (the
"Lease"); and
WHEREAS, Lessor and Lessee wish to amend the Lease as
hereinafter provided;
NOW, THEREFORE, Lessor and Lessee hereby agree as follows:
1. Section 33.2 of the Lease is hereby amended to read in its
entirety as follows:
Neither this Lease nor any provision hereof may be
amended, waived, discharged or terminated except by an
instrument in writing signed by the Lessor and the
Lessee.
2. Annex 1 to the Lease, consisting of the Description of
Initial Leased Assets, is amended to read in its entirety as set forth in
Annex 1 to this Amendment No. 1.
3. Appendix 1 to the Lease, consisting of the Definitions and
Interpretation, is amended to add the following definition thereto in the
appropriate alphabetical order:
"Termination Date" means, with respect to each Leased
Asset, the last day of the Base Term.
4. In connection with the execution and delivery of this
Amendment No. 1, the aircraft currently leased under the Lease shall be
purchased by a designee of the Lessee pursuant to the Purchase Notice dated
the date hereof.
5. Lessee hereby represents and warrants that each of the
representations and warranties made in Section 6.2 of the Lease is true and
correct on the date hereof with the same force and effect as though made on
and as of such date, except to the extent that such representations and
warranties expressly relate to an earlier date, and that no Default or
Event of Default has occurred and is continuing.
6. This Amendment No. 1 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. 1.
7. THIS AMENDMENT NO. 1 SHALL IN ALL RESPECTS BE GOVERNED BY,
AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK.
8. 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.
IN WITNESS WHEREOF, the parties hereto have caused this
Amendment No. 1 to be duly executed as of the date first above written.
SUMITOMO BANK LEASING AND
FINANCE, INC.
By:________________________________
RITE AID REALTY CORP.
By:_______________________________