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Exhibit 10.41
Amendment to the Joint Venture
Agreement
Between:
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(1)
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SHURGARD
SELF STORAGE SCA , a
company organised and existing under the laws of Belgium, having
its registered office at Quai du Commerce/Handelskaai 48, 1000
Brussels, registered with the Commercial Register of Brussels
(registration number 587.679),
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Represented for the purposes of this
Agreement by (i) SSC Benelux Inc., represented by David K. Grant,
or (ii) European Self Storage SA, represented by Patrick
Metdepenninghen,
Hereinafter referred to as
“Shurgard” ;
And:
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(2)
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Crescent
Euro Self Storage Investments SARL , a company in formation, to be organised and to
exist under the laws of Luxembourg, which will have its registered
office at 398, route d’Esch, L-1471 Luxembourg and which will
be registered with the Commercial Register of
Luxembourg,
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represented for the purposes of this
Agreement by Asim Zafar, Muhannad M. Abulhasan and/or Henry
Thompson,
Hereinafter referred to as
“Luxco” .
Individually referred to as a
“Party” , or collectively as the
“Parties” .
Whereas:
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(A)
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Pursuant to
Clause 10.5.4 of the joint venture agreement dated 20 December 2002
(the “Joint Venture Agreement” ) between
Shurgard and Luxco, Shurgard and Luxco undertook to (i) execute or
cause a company nominated by it to execute and cause a bank of
first standing to be selected by Shurgard and Luxco to execute,
respectively, a Shurgard Break-Up Fee Escrow Agreement and the
Luxco Break-Up Fee Escrow Agreement, and (ii) pay or cause a
company nominated by it
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