FIRST LEASE AMENDMENT
EX-10.23 4 w90528exv10w23.htm EXHIBIT 10.23 exv10w23
Exhibit 10.23
FIRST LEASE AMENDMENT
THIS FIRST LEASE AMENDMENT is made as of October 1, 2003, by and between Riverside Crossing, L.C., a Virginia limited liability company (“Lease”), and Portfolio Recovery Associates, Inc., a Delaware corporation (“Lessee”).
RECITALS
| A. | By Office Lease dated June 27, 2003 (the “Lease”), Lessor leased to Portfolio Recovery Associates, LLC Suite 100 consisting of 25,000 rentable square feet (the “Premises”) in a building commonly known as Riverside Commerce Center II, 140 Corporate Boulevard, Norfolk, VA 23502 (the “Building”), as more particularly described in said Lease. |
| B. | The Lessee’s name was inadvertently misstated in the Lease; the correct name is Portfolio Recovery Associates, Inc., a Delaware corporation. |
| C. | Lessor and Lessee desire to modify the terms and conditions of the Lease to correct the misstatement. |
NOW, THEREFORE, in consideration of the mutual promises herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Lessor and Lessee hereby agree as follows:
| 1. | Lessor and Lessee hereby amend the Lease to correctly identify the Lessee. All references in the Lease to Portfolio Recovery Associates, LLC, a Delaware limited liability company shall be to Portfolio Recovery Associates, Inc., a Delaware corporation. |
| 2. | Portfolio Recovery Associates, LLC executes the First Lease Amendment to acknowledge its consent to the terms hereof and to waive any and all rights it may have under the Lease. |
| 3. | All other terms and conditions of the Lease are hereby ratified and shall remain in full force and effect. In the event of a conflict between this First Lease Amendment and the Lease, this First Lease Amendment shall prevail. |
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| IN WITNESS WHEREOF, the parties hereto have executed and delivered this agreement as of the date first written above. |
| LESSOR: | RIVERSIDE CROSSING, L.C., a Virginia limited liability company | |||
| By: Its: | Robinson Developmant Group Inc. Manager | |||
| By: Its: | /s/ Anthony W. Smith Anthony W. Smith Senior Vice President | |||
| Date: | ||||
| | ||||
| LESSEE: | PORTFOLIO RECOVERY ASSOCIATES, INC., a Delaware corporation | |||
| By: | /s/ Steve D. Fredrickson | |||
| Name: | Steve D. Fredrickson | |||
| Its: | President | |||
| Date: | 10-2-2003 | |||
| PORTFOLIO RECOVERY ASSOCIATES, LLC, a Delaware corporation limited liability company | ||||
| By: | /s/ Steve D. Fredrickson | |||
| Name: | Steve D. Fredrickson | |||
| Its: | President | |||
| Date: | 10-2-2003 | |||
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