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EXHIBIT 10.5
FIRST AMENDMENT TO SUBLEASE
BETWEEN BUENOS AIRES EMBOTELLADORA S.A. (LESSOR)
AND MACKENZIE INVESTMENT MANAGEMENT, INC.,(LESSEE)
WHEREAS, the Buenos Aires Embotelladora S.A. entered into a sublease
with Mackenzie Investment Management, Inc. with a Lease Commencement Date of
June 1, 1997 (hereinafter referred to as the "sublease"); and
WHEREAS, Lessor and Lessee have agreed to modify the lease as provided
for in Paragraphs 1 through 4, inclusive, hereinafter;
NOW THEREFORE, in consideration of the mutual covenants and other good
and valuable consideration, Lessor and Lessee amend the Lease as of the data
hereof as follows:
1. Delete the words "Exhibit A" in each and every place that it appears
in the Sublease Agreement (including, but not limited to, Paragraph 2. of Page
3; Paragraph d. of Page 4; Paragraph 1. of Page 6; and the list of exhibits on
Page 28.) and inset in lieu thereof; "Exhibit A-1"
2. Delete the words "7,378 square feet" in paragraph E. of the Sublease
Information Summary and insert in lieu thereof: "9,106 square feet"
3. Notwithstanding the provisions of paragraph N. of the Sublease
Information Summary on Page 5. Base Annual Rent and Monthly Rent for the period
commencing March 1, 1999 through June 30, 1999 is: $12,626.99, Monthly, and
$115,523.84, Annually. These calculations were based on the initial rate of
$15.68 per rentable square foot of Leased Premises.
4. A cost of Living Increase in the Base Annual Rent will occur on July
1, 1999 in accordance with Paragraph 3. of the Sublease Agreement.
Lessor and Lessee hereby ratify and confirm all of the
remaining terms, conditions and covenants contained in the Sublease, except as
modified by paragraph 1 through 4 inclusive of this First Amendment to Sublease.
If there is any conflict between any provisions of the Sublease and any
provision of this First Amendment, the terms of the First Amendment shall
control. Neither the Sublease, or the First Amendment to the Sublease nor any
term or provision of either, may be altered, amended or modified in any manner
except by written agreement executed by the Lessor and Lessee. Lessee has no
claim, defenses or offsets against the Lessor nor does the lessee have any
claims, offsets or defenses whatsoever pertaining to the Sublease of this First
Amendment to Sublease, or the Lessee's obligation to perform (including the
payment of rent) under the Sublease and in the First Amendment to Sublease.
Lessee
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confirms lessor is not in default under this Sublease and First Amendment
to Sublease; and further Lessee is not aware of any facts which would with the
passing of time or giving of notice, or both, cause Lessor to be in default
under this Sublease or the First Amendment to Sublease.
IN WITNESS WHEREOF, the Lessor and Lessee have executed this First
Amendment to Sublease this _________ day of February, 1999
WITNESSES: BUENOS AIRES EMBOTELLADORA S.A.
a stock corporation and existing
under the laws of Argentina, Lessor
BY:
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Its: President & CEO
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--------------------------------- DATE: 3/16/99
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WITNESSES:
MACKENZIE INVESTMENT
MANAGEMENT, INC., a Delaware
Corporation, Lessee
BY: /s/ C. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
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C. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Vice President
--------------------------------- DATE: 2/25/99
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