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FIRST
AMENDMENT TO THE MASTER LEASE
Wal-Mart
Stores East, LP, individually and only as to Stores (as
defined in the Master Lease Agreement) owned, leased, or
operated in AL, CT, DE, FL, GA, IN, KY, ME, MD, MA, MI, MS,
MO, NH, NJ, NM, NY,NC, OH, OK, PA, RI, SC, TN, VT, VA, WI, WV;
Wal-Mart Stores, Inc., individually and only as to Stores
owned or leased in AK, AR, AZ, CA, CO, HI, ID, IL, IA, KS, MN,
MT, NE, NV, ND, OR, SD, UT, WA, WY; Wal-Mart Louisiana, LLC,
individually and only as to Stores owned or leased in
Louisiana; and Wal-Mart Stores Texas, LP, individually and
only as to Stores owned or leased in Texas (each referred to
as “Landlord” for purposes of this Master Lease as
it applies to the Store) and CPI Corp. (“Tenant”),
as successor-in-interest to Portrait Corporation of America,
Inc. (“PCA”) enter into this First Amendment to
the Master Lease (this “First Amendment”) as of
the 20 th day
of June 2007.
Whereas,
Landlord and PCA entered into the Master Lease Agreement
effective June 8, 2007 (together with the any appendices,
exhibits, attachments, and amendments, the “Master
Lease”); and
Whereas,
Tenant purchased from PCA all interest in the Master Lease
thereby assuming all of PCA’s rights and obligations
under the Master Lease as of June 8, 2007 (the
“Transfer”);
Whereas,
Landlord consented to the Transfer; and
Whereas,
Landlord and Tenant each desire to modify the Master Lease as
described more fully below.
Now
therefore, in consideration of the mutual promises and
premises set forth above and below, the receipt and
sufficiency of which both Tenan
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