[***] DENOTES CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT

EX-10.5 4 d65082a2exv10w5.htm EX-10.5 exv10w5
Exhibit 10.5
[***] DENOTES CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT
AMENDMENT NO. 2 TO
AREA LICENSE AGREEMENT
     WHEREAS, Southwest Convenience Stores, Inc. (“SCS”) and The Southland Corporation (“Southland”) entered into that certain Area License Agreement dated as of June 2, 1993, (the “Agreement”), covering certain parts of the State of Texas (the “Licensed Territory” — as therein defined); and
     WHEREAS, SCS and Fina Oil and Chemical Company (“Fina”) agreed to form a limited liability company named Southwest Convenience Stores LLC (the “Licensee”), and to transfer the Agreement and certain assets to the Licensee pursuant to certain agreements and arrangements between Fina and SCS; and
     WHEREAS, SCS changed its name to Permian Basin Investments, Inc., d/b/a Southwest Convenience Stores (“Permain”), and Southland, Permian, the Licensee and Fina all executed that certain Amendment to Area License Agreement and Consent to Assignment, dated as of December 12, 1996 to accomplish the assignment and to establish certain additional relationships and obligations between them; and
     WHEREAS, the Licensee wishes to purchase 14 existing Eagle Mart convenience stores in Archer, Clay and/or Wichita counties in Texas (the “Additional Counties”); and
     WHEREAS, pursuant to the Agreement, the Licensee must operate any stores it acquires as licensed 7-Eleven strobes under the Agreement, and must also obtain approval to increase its Licensed Territory to cover the area where stores to be purchased are located; and
     WHEREAS, SCS is willing to pay a License Fee for the Additional Counties to be added to the Licensed Territory and is willing to agree to other requirements in order to induce Southland to grant the license for those Additional Counties.
     NOW THEREFORE, in consideration of the covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Southland and the Licensee hereby agree as follows:
  1.   The Licensee shall pay to Southland upon execution of this Amendment, the sum of $[***] as a License Fee for the addition of Archer, Clay and Wichita counties to the Licensed Territory set out on Exhibit A and Exhibit A, Licensed Territory, to the Agreement is hereby deleted and Exhibit A - 2 is added to the Agreement and shall be a part thereof, evidencing the addition of those counties to the Licensed Territory.
 
[***]   Text omitted pursuant to a request for confidential treatment and filed separately with the Securities and Exchange Commission.

 


 

  2.   This Amendment and the grant of the Additional Counties to the Licensed Territory shall be effective when signed by both parties and upon the closing of the contemplated transaction whereby the Licensee purchases all of the contemplated Eagle Mart stores, as set out above.

 


 

  3.   The purchased stores shall be covered by the Licensee’s Store Quota and the Licensed Royalty shall be paid on each of their operations, beginning immediately upon the purchase of the stores by the Licensee, all as set out in the Agreement.
 
  4.   All of the Eagle Marts purchased by the Licensee pursuant to the contemplated transaction shall, within a reasonable time, be converted to operating 7-Eleven stores, including bringing them up to Southland’s “Restore” standards, all as approved by Southland.
 
  5.   In all other respects, the Agreement, as amended, is hereby ratified and affirmed.
     IN WITNESS WHEREOF, the parties hereto agree to this Amendment No. 2 to Area License Agreement, this 14 day of August, 1997.
             
Southwest Convenience Stores LLC
Attest:
 
           
By:
  /s/ Donald E. Wood   By:   /s/ Paul G. (Illegible)
 
           
 
           
The Southland Corporation
  Attest:
 
           
By:
  /s/ Stephen B. (Illegible)   By:   /s/ Michael R. Davis
 
           
 
          Michael R. Davis
Assistant Secretary

 


 

EXHIBIT A — 2
LICENSED TERRITORY
     The License to be granted covers the following counties in the States of Texas and New Mexico:
         
TEXAS       NEW MEXICO
Andrews
      Bernalillo
Archer
      Catron
Bailey
    Chaves
Borden
      Cibola
Brewster
      Curry
Clay
      De Baca
Cochran
      Dona Ana
Crane
      Eddy
Crockett
      Grant
Crosby
      Guadalupe
Culberson
      Hidalgo
Dawson
      Lea
Ector
      Lincoln
El Paso
      Los Alamos
Floyd
      Luna
Gaines
      McKinley
Garza
      Otero
Glasscock
      Quay
Hale
      Roosevelt
Hockley
      San Miguel
Howard
      Sandoval
Hudspeth
      Santa Fe
Jeff Davis
      Sierra
Lamb
      Socorro
Loving
      Taos
Lubbock
      Torrance
Lynn
      Union
Martin
      Valencia
Midland
       
Mitchell
       
Pecos
       
Presidio
       
Reagan
       
Reeves
       
Scurry
       
Sterling
       
Terrell
       
Terry
       
Upton
       
Ward
       
Wichita
       
Winkler
       
Yoakum
       
         
 
  Southland  /s/ Stephen B. (Illegible)  
 
   
 
  Licensee /s/ Donald E. Wood  
 
   
 
  Date 08-14-97