SEVENTH AMENDMENT TO LEASE
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SEVENTH AMENDMENT TO LEASE, made this 5th day of June, 1996, by and
between PACIFIC METROPOLITAN CORPORATION, a Delaware Corporation
(successor-in-interest to Carven Associates) having an office at
3000 Executive Parkway, Suite 236, San Ramon, California 94583
("Landlord") and ANNTAYLOR, INC. a Delaware Corporation having an
office at 142 West 57th Street, New York, New York 10019 ("Tenant").
WITNESSETH
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WHEREAS, Landlord and Tenant, as of March 17, 1989, entered into a
lease for the Third, Fourth and Fifth floors of the building known
as Metropolitan Tower at 142 West 57th Street, New York, New York
10019, at the rental and upon the terms and conditions therein
more particularly set forth, and
WHEREAS, Landlord and Tenant, have modified said lease by agreements
dated November 14, 1990 (First Amendment), October 1, 1993 (Extension
and Amendment), April 14, 1994 (Modification of Amendment and Extension
to Lease, March 14, 1995 (Fifth Amendment), and January 5, 1996
(Sixth Amendment), and
WHEREAS, Landlord and Tenant and desirous of further amending said
lease in the manner set forth below:
1. The term of that portion of the seventeenth (17th) floor, deemed
to comprise 8,600 rentable square feet, shall be extended for six (6)
months commencing September 1, 1996 and ending February 28, 1997.
2. And, provided that Tenant is not in default under the terms of the
Lease beyond any applicable cure period, Landlord grants Tenant one (1)
additional option to extend the term of the Lease on that portion of the
seventeenth (17th) floor, deemed to comprise 8,600 rentable square feet,
for a period of six (6) months under the same terms and conditions as
contained in the Sixth Amendment by giving Landlord written notice of its
election to do so on or before December 1, 1996.
3. Landlord and Tenant covenant, warrant and represent to each
other that no broker was instrumental in bringing about or consummating
this Agreement and that neither party had any conversations or negotiations
with any broker concerning the extension of term for the Premises.
Landlord and Tenant each agree to indemnify the other against and hold the
other harmless from any claims for any brokerage commissions and all costs,
expenses and liabilities in connection therewith, including, without
limitation, attorney's fees and expenses arising out of any breach of the
covenants, warranties and representations contained in this Paragraph 3
made by Landlord or Tenant, as the case may be.
4. The terms of this agreement cannot be changed orally, but only by
an instrument in writing executed by both parties.
5. Except as herein expressly modified, the Lease, as amended, is
unmodified and is ratified and confirmed in all respects.
6. The terms, covenants and provisions contained in this Agreement
are binding and shall inure to the benefit of the parties hereto and
their respective heirs, successors and assigns.
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IN WITNESS WHEREOF, Landlord and Tenant have respectively executed
this Agreement as of the day and year first above written.
LANDLORD:
PACIFIC METROPOLITAN CORPORATION
BY: /s/ David A. Hennefer
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David A. Hennefer
TENANT:
ANNTAYLOR, INC.
BY: /s/Valerie Richardson
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Valerie Richardson
Senior Vice President
Real Estate and Development