Print Page  |  Close Window

SEC Filings

10-K
CINEMARK HOLDINGS, INC. filed this Form 10-K on 02/27/2015
Entire Document
 


opening of the Other Theatre (payable in equal monthly installments); or (c) in the event that the Other Theater is opened during the first three (3) years of the Renewal Term, the average annual Base Rent (prorated on an annual basis) payable during the period commencing on the date that Tenant opens to the public for business in Tenant’s Building after the completion of the Theatre Remodel and ending on the date of such opening of the Other Theatre (payable in equal monthly installments). Notwithstanding the foregoing or any other provision of this Amendment to the contrary, in no event shall the amount of annual Base Rent for years 6-10 of the Renewal Term be less than twelve percent (12%) of Gross Sales per annum, and in accordance with the certification, reconciliation and verification procedures set forth in the paragraph above as to the amount of Base Rent for years 1-5.

Years 11-15: Annual Base Rent for years 11-15 of the Renewal Term shall be a fixed amount equal to the amount of annual Base Rent payable for year ten (10) of the Renewal Term increased by the greater of: (i) seven and 5/10ths percent (7.5%); or (ii) the percentage increase (not to exceed fifteen percent (15%)) in the CPI (as hereinafter defined) over the five (5) year period beginning on the last month of year five (5) of the Renewal Term and ending on the last month of year ten (10) of the Renewal Term. Notwithstanding the foregoing or any other provision of this Amendment to the contrary, in no event shall the amount of annual Base Rent for years 11-15 of the Renewal Term be less than twelve percent (12%) of Gross Sales per annum, and in accordance with the certification, reconciliation and verification procedures set forth in the paragraph above as to the amount of Base Rent for years 1-5.

Years 16-20: Annual Base Rent for years 16-20 of the Renewal Term shall be a fixed amount equal to the amount of annual Base Rent payable for year fifteen (15) of the Renewal Term increased by the greater of: (a) seven and 5/10ths percent (7.5%); or (b) the percentage increase (not to exceed fifteen percent(15%)) in the CPI over the five (5) year period beginning on the last month of year ten (10) of the Renewal Term and ending on the last month of year fifteen (15) of the Renewal Term. Notwithstanding the foregoing or any other provision of this Amendment to the contrary, in no event shall the amount of annual Base Rent for years 16-20 of the Renewal Term be less than twelve percent (12%) of Gross Sales per annum, and in accordance with the certification, reconciliation and verification procedures set forth in the paragraph above as to the amount of Base Rent for years 1-5.

As used in this Amendment, the term “CPI” means the United States Department of Labor, Bureau of Labor Statistics Consumer Price Index for All Urban Consumers, U.S. City Average, Subgroup “All items” Index (1982-84 = 100). In the event that the CPI ceases to be published, then a substitute index or methodology shall be utilized in the manner set forth in the third paragraph of Section 4.01 of the Original Lease. In the event that the applicable monthly CPI figure is not published on or before the effective date of an adjustment in Base Rent set forth above, Tenant shall continue to pay the amount of Base Rent then last in effect until such monthly CPI figure is published and the adjustment in Base Rent is calculated, at which time, Tenant shall commence paying to Landlord the new adjusted amount of Base Rent, plus any amount of Base Rent retroactively due and payable.

6. Existing Cellular Equipment and Tower on Tenant’s Building. In connection with the Theatre Remodel, Tenant shall utilize commercially reasonable efforts to avoid the relocation of the existing cellular equipment and tower on Tenant’s Building. However, in the event that such a relocation is unavoidable and

 

3