exv10w23xey



 





EXHIBIT
10.23(e)



Execution Version 




FOURTH AMENDMENT TO LEASE

(Century 24)




     THIS FOURTH AMENDMENT TO LEASE AGREEMENT (this “Amendment”) is entered into as of August 7,
2006 to be effective as of the Effective Date (as defined hereinbelow) by and between SYUFY
ENTERPRISES, L.P., a California limited partnership (“Landlord”), and CENTURY THEATRES, INC., a
California corporation (“Tenant”).



RECITALS:




     A. Landlord (then known as Syufy Enterprises, a California limited partnership (“Original
Landlord”)) and Century Theatres of California Inc., a California corporation (“Original Tenant”),
entered into a certain Lease dated as of September 30, 1995 (the “Original Lease”), for certain
premises located in San Jose, California.



     B. The Original Lease has been previously amended by that certain (i) First Amendment to
Lease dated as of September 1, 2000 (the “First Amendment”), (ii) Second Amendment to Lease dated
as of April 15, 2005 (the “Second Amendment”), and (iii) Third Amendment to Lease dated as of
September 29, 2005 (the “Third Amendment”; the Original Lease as heretofore amended is referred to
herein as the “Lease”).



     C. Tenant has succeeded to the interests and assumed the obligations of Original Tenant as
the lessee under the Lease.



     D. Landlord has succeeded to the interests and assumed the obligation of Original Landlord as
the lessor under the Lease.



     E. Landlord and Tenant now desire to further amend the Amended Lease, upon the terms and
conditions set forth in this Amendment.



     NOW THEREFORE, for good and valuable consideration, the receipt, adequacy and sufficiency of
which are hereby acknowledged, the Lease is hereby modified and amended, and Landlord and Tenant
hereby agree, as follows:



     1. Recitals Incorporated; Certain Defined Terms. The Recitals set forth above are
incorporated into this Amendment and shall be deemed terms and provisions hereof, the same as if
fully set forth in this Paragraph 1. Capitalized terms that are used but not otherwise defined
herein shall have the respective meanings ascribed to such terms in the Lease.



     2. Effectiveness. The parties are entering into this Amendment in connection with the
contemplated acquisition of all the outstanding capital stock of Century Theatres, Inc. by
Cinemark Holdings, Inc. and Cinemark USA, Inc. (the “Acquisition”) pursuant to a Stock Purchase
Agreement dated as of the date hereof (the “Stock Purchase Agreement”). This Amendment shall
become automatically effective upon, and only upon, the closing of the Acquisition (the “Effective
Date”). In the event the Acquisition is not consummated and the Stock Purchase Agreement is
terminated, this Agreement shall become void ab initio and of no force and effect.



 









 





     3. Initial
Term of Lease and Extension Options. Notwithstanding anything to the
contrary in the Lease but subject to the provisions of the Lease applicable to the exercise and
validity of such Renewal Terms, the Initial Term of the Lease is hereby extended to and shall
expire on September 30, 2016 and rather than two (2) Renewal
Terms of five (5) years each (as
provided in the Lease), Tenant shall have the option to extend the
Initial Term for four (4) consecutive Renewal Terms of
five (5) each, followed by one (1) additional and final Renewal Term
of four (4) years.



     4. Landlord’s Recapture Right. If, at any time during the term of the Lease, Tenant
fails to satisfy the Operating Condition (defined below), for reasons other than Excused Closure
(defined below), and such failure continues for six (6) consecutive months or more, then upon
notice from Landlord to Tenant at any time thereafter (provided that the Operating Condition
remains unsatisfied), Landlord shall have the right to terminate the Lease and to recapture the
Leased Premises, without payment to Tenant, effective upon the date set forth in Landlord’s
termination notice (but not sooner than 30 days after the date of the termination notice).




     The term “Operating Condition” shall mean and require that the entire Leased Premises
is being continuously operated and regularly open for business to the general public as a
motion picture theater complex in accordance with the Lease, at least on such days and at
such times that a majority of Century’s and Cinemark’s other motion picture theater
complexes in the County of Santa Clara typically are open and operating. The term “Excused
Closure” shall mean (i) periods of construction, alterations, renovation, remodeling and
repair of the Leased Premises undertaken in accordance with this Lease (including repairs
and restoration following damage or destruction due to fire or other casualty)
provided that Tenant (A) prosecutes such work to completion with reasonable
diligence, (B) exercises its reasonable efforts to minimize the length of time of such
closure, and (C) exercises its reasonable efforts to limit the number of motion picture
screens at the Premises that are not operated due to such closures; (ii) periods when Tenant
cannot practicably operate its business in the Premises as a consequence of force majeure;
and (iii) additional periods, not to exceed four (4) days in any Lease Year, when Tenant in
its sole discretion elects not to operate its business in the Leased Premises.



     5. Self-Insurance of Property/Casualty Risks. Notwithstanding anything to the contrary
set forth in the Lease, during any period in which Tenant maintains a Net Worth (as defined below)
of at least One Hundred Million Dollars ($100,000,000.00), Tenant may self insure the so-called
“physical property damage insurance” otherwise required to be maintained by Tenant pursuant to the
Lease. As used herein, the “Net Worth” of Tenant at any given time shall mean an amount equal to
the sum of (A) the product of (1) Tenant’s so-called EBITDA (i.e., earnings before interest, income
taxes, depreciation and amortization), calculated in accordance with commercially reasonable past
practice preceding the Effective Date by Tenant’s parent corporation, over the 12-month period
immediately preceding the time of measurement, multiplied by (2) eight (8), plus (B) the amount of
cash and cash equivalents held by Tenant on the most recent anniversary of Tenant’s annual
insurance renewal date, minus (C) the amount of outstanding funded debt of Tenant on such
determination date.



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     6. Damage and Destruction — Repairs by Tenant. Notwithstanding anything to the
contrary contained in the Lease, the following shall apply to repairs and restoration upon damage
or destruction:



     (A) Tenant’s Obligation to Repair. If the Leased Premises are damaged or destroyed by
any peril after the Commencement Date of this Lease, then Tenant shall repair the damage and
restore the Leased Premises in accordance with this Section, except as provided in subsection (B)
below. Unless Tenant is not required to effect the repairs and restoration pursuant to subsection
(B) below, Tenant shall promptly apply for and diligently seek to obtain all necessary
governmental permits and approvals for the repair and restoration of the Leased Premises and, upon
issuance of such governmental permits and approvals, promptly commence and diligently prosecute
the completion of the repairs and restoration of the Leased Premises (to the extent permitted by
applicable law) to substantially the same condition in which the Leased Premises were immediately
prior to such damage or destruction (subject to any alterations which Tenant would be permitted to
make to the Leased Premises pursuant to this Lease).



     (B) If the Leased Premises are damaged or destroyed by fire or other casualty which occurs
after the Effective Date hereof, and if the cost to repair such damage or to restore the Leased
Premises exceeds twenty percent (20%) of the replacement cost of the Leased Premises (as determined
by an independent architect selected by Tenant and approved by Landlord in Landlord’s reasonable
discretion) and such damage makes it impracticable to operate the Leased Premises in the reasonable
business judgment of Tenant, then (i) Tenant shall have the option, upon notice to Landlord not
later than one hundred eighty (180) days following the occurrence of the applicable casualty, not
to undertake the repairs and restoration of the Leased Premises, and (ii) if Tenant so elects not
to undertake the repairs and restoration, then Tenant nevertheless shall raze Tenant’s Building and
remove from the Leased Premises all building materials and debris and all underground installations
that serve only the Leased Premises (including the footings and foundations of Tenant’s Building
and the utility lines serving Tenant’s Building) and restore the surface of the Premises to a
graded and landscaped surface.



     7. Permitted Assignments and Release. Notwithstanding anything in the Lease to the
contrary, the following shall apply and control:




     Subject to the next sentence, Tenant may sublet or assign this Lease only upon
receipt of Landlord’s written consent which consent Landlord agrees shall not be
unreasonably withheld, delayed or conditioned. Notwithstanding anything in this
Lease to the contrary, it is agreed that at any time during the term of this Lease
Tenant may, without Landlord’s consent or approval (but only upon prior written
notice to Landlord), assign this Lease or sublet the Leased Premises to: (i) any
wholly-owned subsidiary of Tenant, and (ii) any corporation, trust, partnership or
individual that owns fifty percent (50%) or more of the issued and outstanding stock
of Tenant. A change in control of Tenant shall not constitute an assignment of this
Lease requiring Landlord’s consent or approval, provided, however, that if
any assignee under clause (i) above ceases to be a wholly owned subsidiary of
Tenant, then the same shall be deemed to constitute an assignment which is
prohibited without Landlord’s approval under Article XI of the Lease.



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No assignment, subletting or other transfer of the Lease or the Leased Premises shall relieve or
release Tenant from any liabilities or obligations arising under the Lease.




     8. Leasehold Financing. Notwithstanding anything to the contrary contained in the
Lease, Tenant shall have the right, without Landlord’s consent to encumber the leasehold estate
created under the Lease and/or to grant a security interest in Tenant’s removable trade fixtures,
furnishings and equipment located within the Leased Premises (but not to encumber Landlord’s fee
interest in the Premises), to secure financing provided to Tenant by any bank, thrift institution,
insurance company or other institutional lender. Tenant agrees to notify Landlord of any such
encumbrance. With respect to any such leasehold financing (and provided that Tenant is not in
default under the Lease beyond any applicable notice or cure period), upon thirty (30) days’ prior
written request from Tenant, Landlord will execute and deliver to the secured lender a “Landlord’s
Agreement” in the form attached hereto as Exhibit “A-l”.



     9. Memorandum of Lease. On the Effective Date, Landlord and Tenant will enter into
and record a short form memorandum of the Lease, in the form of Exhibit “A-2” attached
hereto or otherwise in proper form for recording. Tenant shall be solely responsible for the cost
of recording the memorandum, including (if applicable) any transfer taxes that may be due and
payable in connection with the Lease.



     10. Gross Sales. Notwithstanding anything in the Lease to the contrary the
definition of Gross Sales shall be as follows:




     “Gross Sales” shall mean the total amount of all revenues (whether in cash or
credit) generated or derived from the conduct of any business at the Leased
Premises, including (without limitation) all box office receipts of or at the Leased
Premises (including receipts from tickets or gift certificates redeemed at the
Leased Premises regardless of the point of sale), as well as any and all receipts
from the sale of goods, services, merchandise, beverages, food, vending machines and
video games at the Leased Premises; provided, however, that the
following shall be excluded from “Gross Sales” (i) credits and refunds made with
respect to admissions or other sales otherwise included in Gross Sales, (ii) all
federal, state, county and city admission taxes, sales and use taxes, entertainment
taxes, royalty taxes, gross receipt taxes and other similar taxes now or hereafter
imposed and owing to the taxing authority by Tenant (whether such taxes are
collected from customers separately from the selling price of admission tickets or
absorbed by Tenant); (iii) receipts from the sale of gift certificates or tickets
sold but not redeemed at the Leased Premises; (iv) with respect to any tickets or
admissions ordered or paid for over the internet and redeemed at the Leased
Premises, the portion (if any) of the sale price that exceeds Tenant’s actual
box-office ticket price; (v) sales price for merchandise returned, (vi) amounts
retained by credit card issuers, (vii) sales outside of the ordinary course of
business, (viii) amount of credit card sales deemed uncollectible, (ix) advertising
revenues including without limitation media, sponsorship, and promotional
advertising of any kind, and (x) the receipts of or from so-called “four-wall deals”
with a party that is not affiliated with Tenant, except that the portion thereof or
other amounts paid to Tenant in connection with such “four-wall deals” shall be
included in “Gross



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Sales” under this Lease. Commissions or surcharges paid to agencies or other third
parties not affiliated with Tenant for selling tickets or processing credit card
transactions, and any sums paid to third parties not affiliated with Tenant for the
use or rental of vending machines, pay telephones, amusement machines and other
similar devices shall be deducted from “Gross Sales” (if and to the extent
previously included in “Gross Sales”).



     11. Taxes. Notwithstanding any other provision of the Lease or this Amendment to the
contrary, if during the ten (10) year period immediately following the Effective Date, any sale
or change in ownership of the Premises (or against the Entire Premises, if the Premises are not
separately assessed) is consummated by Landlord and, as a result, all or part of the Premises (or
Entire Premises, if applicable) are reassessed (a “Reassessment”) for real property tax purposes
by the appropriate governmental authority under the terms of Proposition 13 (as adopted by the
voters of the State of California in the June 1978 election) or the terms of Article XIIIA of the
Constitution of the State of California, then the terms of this Section shall apply. For purposes
of this Section, the term “Tax Increase” shall mean that portion of the annual real estate taxes
assessed against the Premises (or the Entire Premise, if applicable), as calculated immediately
following the Reassessment, that is attributable solely to the Reassessment. Accordingly, a Tax
Increase shall not include any portion of the real estate taxes, as calculated immediately
following the Reassessment, that is:



          (i) Attributable to the assessment of the value of the Premises (or Entire Premises, if
applicable) prior to the Effective Date;




          (ii) Attributable to the annual inflationary increases in real estate taxes; or




          (iii) Attributable to the sale of Landlord’s ownership interest in Tenant on or about the
Effective Date, or attributable to the execution of this Amendment or any extension of the Term of
this Lease on the Effective Date or thereafter.



During the five (5) year period immediately following the Effective Date, Tenant shall not be
obligated to pay any portion of any Tax Increase relating to a Reassessment.



Commencing on the fifth anniversary of the Effective Date, and continuing until the tenth
anniversary of the Effective Date, Tenant shall be obligated to pay annually only the portion of a
Tax Increase relating to a Reassessment that is equal to (or less than) an increase of four
percent (4%) per annum, compounded annually, from the Effective Date, in the annual amount owed by
Tenant for [real estate taxes] under the terms of the Lease, from the annual amount owed by Tenant
for real estate taxes under the terms of the Lease in calendar 2006.



The terms and provisions of this Section shall not apply to any increase in real estate taxes
which results from or is attributable to any occurrence, fact or circumstance other than a sale by
Landlord of Landlord’s interest in the Premises or a transfer effected by Landlord which is
treated as a sale by the local taxing authorities under Proposition 13 (excluding those matters
identified in clause (iii) above). This Section shall not apply from and after the tenth (10th)
anniversary of the Effective Date of this Amendment.




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     12. Alterations by Tenant.



     Notwithstanding anything in the Lease to the contrary, the following shall apply and control:



     Tenant shall have the right from time to time, at its sole cost and expense, to make
nonstructural interior alterations, improvements, or changes in the Leased Premises as Tenant shall
deem necessary or beneficial consistent with Tenant’s exclusive use of the Leased Premises as a
motion picture theatre complex and if Tenant undertakes such work, Tenant must pursue such work
until completion. Tenant shall fully and completely indemnify Landlord against any mechanics’ or
other liens in connection with the making of such alterations and changes, and shall pay all costs,
expenses, and charges thereof. Alterations, changes and improvements shall be performed in a
first-class manner and must comply with all laws, zoning regulations and ordinances, and any
conditions on permits issued pursuant thereto. If it is necessary in Tenant’s reasonable judgment
to close any of the motion picture screens during the period in which any of Tenant’s work
permitted hereunder is performed, said closure(s) shall be effected only in accordance with the
provisions governing an “Excused Closure”, as that term is defined in Section 4 of this Amendment.



     13. Rooftop
Equipment and Access. Tenant shall have the exclusive right to install,
operate, repair, replace and maintain satellite dishes and/or other communication transmission
devices (collectively “Rooftop Equipment”) on the roof of the theatre necessary or appropriate to
accept any transmission of signals to the theatre for all permitted uses, including without
limitation, for movies, advertising, concerts, telecasts, corporate meetings or communications
and the like; but Tenant shall be prohibited from entering into any leases or licenses with any
third parties for retransmission from such Rooftop Equipment, and Tenant shall not retransmit
such signals to a third party outside of the Leased Premises. Landlord shall not use, or permit
any person or entity (other than Tenant), to use the roof or exterior walls of the theatre for
any purpose whatsoever, and Landlord agrees not to enter into any leases or licenses with third
parties for the use of the theater rooftop. Landlord shall be responsible for any damage to the
rooftop caused by the Landlord or a third party that enters onto the theatre rooftop with
Landlord’s permission, and Landlord shall indemnify and hold Tenant harmless from all loss, cost,
damage or expense which Tenant incurs as a result of the acts or omissions of said third party or
their agents or employer. Tenant hereby indemnifies and agrees to hold Landlord and Landlord’s
successors and assigns harmless from all loss, cost, damage or expense which Landlord incurs as a
result of the actions of Tenant, or its agents or employees in installing and utilizing Rooftop
Equipment as permitted hereunder.



     14. Alterations and Development by Landlord. Landlord agrees that with respect to
the Entire Premises, the following restrictions shall apply to Landlord’s usage and improvement
thereof:




	 	(i)	 	Any alterations or new construction to the Entire Premises or contiguous
property owned or controlled by Landlord or its affiliates as of the Effective Date
(the “Contiguous Property”) may be made without Tenant’s consent only if such
alterations or new construction do not materially and adversely affect Tenant’s
operations (including, without limitation, parking, access, ingress and egress to




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	 	 	 	the theatre building and visibility of the theatre building and/or on-building
theatre signage). Any such alterations or new construction on the Entire Premises
and any cross parking or cross access arrangements between the Entire Premises and
the Contiguous Property will first be submitted to Tenant for approval, not to be
unreasonably withheld or delayed, and Tenant shall be required to identify the
manner in which Tenant’s operations are so affected. If Landlord and Tenant are
unable to agree on whether such alteration or new construction materially and
adversely affects Tenant’s operations, including without limitation, parking,
access, ingress and egress and visibility, the parties agree to submit the issue to
binding arbitration pursuant to the Lease.
	 
	 	(ii)	 	Landlord shall not lease, sell or use any space on Non-leased Premises or the
Contiguous Property for operating a motion picture theatre.
	 
	 	(iii)	 	Subject to existing leases, licenses and operating agreements, Landlord shall
not lease, license, enter into an operating agreement for, sell or use any space on
Non-leased Premises for operating the following: a bowling alley; a bar or lounge
(other than a bar or lounge that is connected with a restaurant, deriving 50% of its
revenues from the sale of food); a liquor store (other than first-class or upper-end
wine or liquor store such as “BevMo”); a bulk candy store, (other than upper-end candy
stores such as Godiva, Sees, Rocky Mountain Chocolates and similar concepts); a popcorn
store; a massage parlor or adult (i.e., pornographic) book store.
	 
	 	(iv)	 	Landlord shall not place any carts, kiosks or other temporary structures
selling food and/or beverages within the common areas of the Entire Premises unless
such carts, kiosks or other structures are more than 500 feet from the theatre. Such
carts and kiosks may not sell any food or beverages sold in the theatre. Landlord
shall not place any vending machines selling food and/or beverages within the common
areas of the Entire Premises unless such vending machines are more than 500 feet from
the theatre.
	 
	 	(v)	 	Any new buildings shall be limited to retail, restaurant, residential and/or
office uses.





     15. Removal of Equipment, Surrender and Demolition. Upon the expiration of the Term
or earlier termination of the Lease, and provided Tenant is not in default under the Lease beyond
applicable notice and cure periods, and said earlier termination is not due to Tenant’s default
under the Lease, then for a period extending forty-five (45) days beyond the date of said
expiration or termination, Tenant shall be permitted to remove any and all furniture, fixtures and
equipment owned and installed by Tenant in, on or to the Leased Premises. Such removal shall be:
(a) at Tenant’s sole cost and expense; (b) conducted in such manner that no liens or claims shall
arise or exist in connection therewith; (c) conducted in a manner to avoid unreasonable
interference with the activities of Landlord and subsequent tenants or occupants upon the Leased
Premises and Tenant shall repair all damages caused by such removal.



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     Upon surrender of the Leased Premises by Tenant and removal of its equipment pursuant to the
terms of the Lease and this Amendment, Landlord shall be responsible for the cost of any
demolition of the Leased Premises and site grading and restoration as a result, except as
otherwise provided in the Lease. Such demolition shall be undertaken in Landlord’s sole discretion
and at such times, manner and upon such events as Landlord solely shall determine.



     16. Early Termination — Opening of Nearby Theatre. As used herein, the term “Nearby
Theatre” shall mean any motion picture theatre complex that is initially developed and commences
operation after the Effective Date hereof and is located at, or
within a three (3) mile radius
of, the location of the currently-existing “Century 21”, “Century 22” and “Century 23” theatres
in San Jose, California. If Tenant operates any Nearby Theatre as a motion picture complex any
time after the Effective Date, then Landlord and Tenant shall each have the right and option to
terminate this Lease, upon not less than thirty (30) days’ prior written notice to the other
party.



     17. Restrictive Covenant. Landlord covenants and agrees that if, upon the termination
of the Lease for any reason, other than the default of Tenant, Tenant or an affiliate of Tenant is
leasing and operating a Nearby Theater as a motion picture theatre complex, then no portion of the
Entire Premises including the Leased Premises shall be used or operated as a motion picture theater
complex prior to the date which is the first to occur of (i) twenty (20) years from the date the
Nearby Theatre opens or (ii) the termination or expiration of the Nearby Theater lease or (iii) the
Nearby Theater ceasing to be open to the public and operating as a first-run motion picture theater
complex, for reasons other than Excused Closures for a continuous period of eighteen (18) months or
more. The terms and provisions of this Section shall survive the termination of the Lease except
that the foregoing restrictive covenant shall not apply if the Lease is terminated as a consequence
of a default by Tenant. Such restrictive covenant shall run with the land. Landlord agrees to
execute within thirty (30) days after request by Tenant a restrictive covenant in form appropriate
for recording containing the restrictions contained herein. Tenant shall be responsible for the
costs of all such recording fees.



     18. California Remedies. Landlord’s remedies upon a default under the Lease shall
include, without limitation, the following:




Even though Tenant has breached the Lease and/or abandoned the Premises, this Lease shall
continue in effect for so long as Landlord does not terminate Tenant’s right to possession,
and Landlord may enforce all of its rights and remedies under this Lease, including (but
without limitation) the right to recover Rent as it becomes due. Landlord has the remedy
described in Section 1951.4 of the Civil Code of the State of California or any successor
code section (Landlord may continue the Lease in effect after Tenant’s breach and
abandonment and recover rent as it becomes due, if Tenant has the right to sublet or
assign, subject only to reasonable limitations). Acts of maintenance, preservation or
efforts to lease the Premises or the appointment of receiver upon application of Landlord
to protect Landlord’s interest under this Lease shall not constitute an election to
terminate Tenant’s right to possession.



     19. Termination of Lease and Lessee’s Right to Possession. Section 15.02(C) of the
Lease shall be deemed deleted in its entirety and replaced with the following:



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     “If an event of default occurs, Landlord shall have the right, with or without notice or
demand, immediately (after expiration of the applicable grace periods) to terminate this Lease,
and at any time thereafter recover possession of the Premises or any part thereof and expel and
remove therefrom Tenant and any other person occupying the same, by any lawful means, and again
repossess and enjoy the Premises without prejudice to any of the remedies that Landlord may have
under this Lease, or at law or equity by reason of Tenant’s default or of such termination. Should
Landlord terminate this Lease pursuant to foregoing, Landlord shall have all the rights and
remedies of a landlord provided by Section 1951.2 of the Civil Code of the State of California, or
successor code section. Upon such termination, in addition to any other rights and remedies to
which Landlord may be entitled at law or in equity, Landlord shall be entitled to recover from
Tenant:




               (1) the worth at the time of award of the unpaid Rent which had been earned at
the time of termination;




               (2) the worth at the time of award of the amount by which the unpaid Rent
which would have been earned after termination until the time of award exceeds the
amount of such Rent loss that the Tenant proves could have been reasonably avoided;




               (3) the worth at the time of award of the amount by which the unpaid Rent for
the balance of the Term after the time of award exceeds the amount of such Rent
loss that the Tenant proves could be reasonably avoided;




               (4) any other amount, and court costs, necessary to compensate Landlord for
all the detriment proximately caused by Tenant’s failure to perform its obligations
under this Lease or which, in the ordinary course of things, would be likely to
result therefrom; and




               (5) for any other sums due.”



     20. Notices. The notices provisions of the Lease, as the case may be, shall be deemed
deleted in their entirety and replaced with the following:




     (a) Except as otherwise expressly and specifically in this Lease provided, a bill,
demand, statement, consent, notice or other communication (“notice”) which either party may
desire or be required to give to the other party shall be deemed sufficiently given or
rendered if in writing, delivered personally to the party to be charged therewith or sent by
certified mail (return receipt requested) or private express mail courier service (postage
or delivery or courier fees fully prepaid) addressed to such party at the addresses set
forth in subparagraph (c) below (including the addresses for copies of notices) and/or at
such other address(es) as such party shall designate to the other party by notice given as
herein provided. If Landlord is notified of the identity and address of Tenant’s Leasehold
Mortgagee, Landlord shall give such party any notice served upon Tenant hereunder to the
last known address of such Leasehold Mortgagee as provided by Tenant to Landlord by
certified mail or private express courier service. If Tenant is notified of the identity and
address of Landlord’s mortgagee, Tenant shall give such mortgagee any




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notice served upon Landlord hereunder to the last known address of such mortgagee as
provided by Landlord to Tenant, by certified mail or private express courier service.




     (b) Any notice given in accordance with the foregoing provisions of this Section shall
be deemed effective upon the earlier of (i) if the notice is personally delivered, the date
actually received by intended recipient, (ii) if the notice is sent by certified mail, five
(5) days after the same is mailed, or (iii) if the notice is sent by private overnight
courier service (e.g., Federal Express. DHL or similar courier), one (1) day after the same
is delivered to or picked up by such courier. Rejection or refusal to accept a notice or
the inability to deliver same because of a changed address of which no notice was given
shall be deemed to be a receipt of the notice sent. Notwithstanding any provision to the
contrary contained in this Lease, no provision in this Lease shall preclude service of
notices in accordance with Section 1162 of the California Code of Civil Procedure or any
similar and/or successor code sections.




     (c) Addresses for Notices to Landlord and Tenant.




     Notices are to be delivered, mailed or couriered to the following address(es):



	 	 	 
	To Landlord:

	 	Syufy Enterprises, L.P.
	 

	 	150 Pelican Way
	 

	 	San Rafael, California 94901
	 

	 	Attention: President






	 	 	 
	with a copy to:

	 	Syufy Enterprises, L.P.
	 

	 	150 Pelican Way
	 

	 	San Rafael, California 94901
	 

	 	Attention: General Counsel
	 
	 	 
	and a copy to:

	 	DLA Piper
	 

	 	203 North LaSalle
	 

	 	Suite 1900
	 

	 	Chicago, IL 60601 94901
	 

	 	Attention: David Sickle, Esq.






	 	 	 
	To Tenant:

	 	Century Theatres, Inc.
	 

	 	c/o Cinemark, Inc.
	 

	 	3900 Dallas Parkway
	 

	 	Suite 500
	 

	 	Plano, TX 75093
	 

	 	Attention: Legal Department






     Tenant and Landlord may change their respective addresses for purposes of this Section by
giving written notice of such change to the other.



     21. Miscellaneous Amendments. Notwithstanding anything contained herein to the
contrary, whenever any of the terms “Leased Premises”, “Demised Premises” or “Premises” (and
whether or not capitalized) is used herein, it shall be understood to mean the “premises




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leased hereby”; and whenever the term “Entire Premises” is used herein (and whether or not
capitalized), it shall be understood to mean all of the contiguous land and buildings owned by
Landlord at this location, which include the premises leased hereby. The term “Non-leased
Premises” shall mean the Entire Premises less the Leased Premises.




     22. Prior Amendments. All of the provisions of the First Amendment are hereby deleted
in their entirety and of no further force and effect except for (i) the first grammatical
paragraph of Paragraph A concerning the definition of Consumer Price Index and (ii) Paragraph E
concerning the Indemnity and Hold Harmless. The Second Amendment and the Third Amendment are
hereby deemed to be void ab initio - it being the intent of the parties hereto that this Amendment
shall replace and restate such Second Amendment and Third Amendment in their entirety.



     23. Effect of Amendment. The Amendment modifies and amends the Lease, and the terms
and provisions hereof shall supersede and govern over any contrary or inconsistent terms and
provisions set forth in the Lease. The Lease, as previously amended and as hereby further amended
and modified, remains in full force and effect and is hereby ratified and confirmed. All future
references in the Lease to the “Lease” shall mean and refer to the Lease, as amended and modified
by this Amendment.



[Signatures Appear on Next Page]




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     IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the date herein
above provided.



Landlord:




	 	 	 	 	 
	 	SYUFY ENTERPRISES, L.P., a California limited partnership

 	 
	 	By:	  /s/ Joseph Syufy 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 



Tenant:




	 	 	 	 	 
	 	CENTURY THEATRES, INC., a California corporation

 	 
	 	By:	  /s/ Raymond W. Syufy 	 
	 	Name:  	 	 
	 	Title: