Exhibit 10.23






Exhibit 10.23




AMENDMENT TO THE COMMERCIAL LEASE AGREEMENT




By this instrument, on one side MercadoLivre.com Atividades de Internet Ltda., with its principal
place of business at Rua Gomes de Carvalho 1.306, 7o andar, in the capital city of São Paulo, SP,
CEP: 04547-005, enrolled in the General Taxpayers’ Register under CNPJ No 03.361.252/0001-34
(hereinafter referred to as “LESSEE”), and on the other side KW Radar Construtora e Incorporadora
Ltda., with its principal place of business at Av. Dr. Yojiro Takaoka 4384, conj. 806, Centro de
Apoio I – Alphaville, enrolled in the General Taxpayers’ Register under CNPJ No 05.897.569/0001-15
(hereinafter referred to as “LESSOR”).




Whereas the Parties have entered into a Property Lease Agreement on November 01, 2004;




Whereas the Parties intend to amend this Lease Agreement so as to modify certain conditions,
especially to extend the term of the lease and change the sublease conditions;




The Parties hereto by mutual agreement resolve to enter into his Instrument of Amendment
(“Amendment”) that shall be governed by the following terms and conditions:




Clause One: The purpose of this amendment is to change the lease term, previously provided in the
preamble to terminate on October 31, 2009. It is hereby established that the lease term will be
valid for an undetermined period of time, and item “E” shall become effective with the following
wording:





“E) TERM




Five (05) years or sixty (60) months.

Beginning: November 01, 2004 – End: October 31, 2009

After such period has elapsed, this agreement shall be automatically renewed for five (05)
years, from November 01, 2009 up to October 31, 2014; the agreement may be terminated by the
Parties with no charges whatsoever under clause 15 of the agreement”.



Clause Two: This amendment is also intended to change Clause 3 of the agreement so as to permit
LESSEE to assign, transfer or sublease the premises, in whole or in part, to any company pertaining
to its economic group, upon prior consent of LESSOR. Clause 3 shall have the following wording:





“3 — LESSEE is prohibited from assigning, transferring or subleasing the premises, in whole or
in part, for value or under free lease, without LESSOR’s written prior consent. Regardless of
that provided in the preceding sentence, LESSOR shall not refuse to give its consent in the
event of sublease to companies that are provenly part of the LESSEE’s economic group and LESSOR
hereby authorizes subleasing to the companies Ibazar.com Atividades de Internet Ltda,
Ebazar.com.br Ltda and MercadoPago.com Representações Ltda. In such events LESSEE shall be fully
liable for the payment of sublease rent”.


 


 









 





Clause Three: Considering the changes provided for above, the Parties hereby amend Clause 15 of the
agreement that shall become effective with the following wording:





“15 — This Agreement may be terminated by each party at any time, without any charge, upon a
sixty (60) day’s prior notice”.



Clause Four: Further, considering the changes provided for above, the Parties hereby amend Clause
16 of the agreement that shall become effective with the following wording:





“16 — Upon termination of the lease by one of the parties, as provided for in clause 15 of this
instrument, LESSEE shall return the premises fully vacant of persons and things, in as good
condition as it has received them, regardless of any judicial or extra-judicial notice or
notification, under penalty of being subject to the fine specified in paragraph one of this
clause, and LESSOR may take the measures it deems necessary for the premises to be vacated”.



FINAL PROVISIONS




This amendment enters into force on the date of its execution and any other terms and conditions
that have not been amended by the present instrument shall remain unaltered and effective.




In witness whereof, the parties have executed this Amendment in two (02) counterparts of equal
content in the presence of the two (02) undersigned witnesses.




Sao Paulo, October 30, 2009




[signed]

MercadoLivre Atividades de Internet Ltda

Name: Stelleo Passos Tolda

Title: President Director




[signed]

KW Radar Construtora e Incorporadora Ltda

Name: Karen Spillateli and Marilda Rosa de Barros

Title: Director




Witnesses

1. [signed]

Name: Carmen Beatriz C. da Silva

RG: 09251848-1




2. [signed]

Name: [illegible]

RG: 30.243.952-3