Renewal Option Two. Five (5), two (2) year renewal options, each exercisable on six (6) months advance written notice, on the same terms set forth above except that Rent, Utilities, and Operating Expenses payable during such renewal term(s) shall be as follows: Option Term One: Annual Base Rent $10.00/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Two: $10.50/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Three: $11.00/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Four: $11.50/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Five: $12.00/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs The foregoing notwithstanding, Tenant shall have the right to convert the third (3rd), fourth (4th), and fifth (5th) two (2) year renewal options set forth above to one (1) year options, upon providing Landlord twelve (12) months notice prior to exercising each such one (1) year option. Upon Tenant’s conversion of either of the third (3rd), fourth (4th), or fifth (5th) options to a one (1) year option, each successive option term shall thereafter automatically be converted to a one (1) year option. Please confirm receipt and acceptance of this formal notification by directing your written response to Xxxx Xxxxx, CyOptics CFO, located on the Tel Park Campus. Please feel free to direct any questions to Matt on 000-000-0000. 000 Xxxx Xxxxxxxxxx Xxxx, Xxxxx 000 Xxxxxxxx Xxxxxxx, Xxxxxxxxxxxx 00000 P. 610.238.0500 · F. 610.238.0140 xxx.xxxxxxxx.xxx December 8, 2008 Certified Mail Xxxx Xxxxx, CFO CyOptics, Inc. Two Tek Park 0000 Xxxxxxxx Xxxx Breinigsville, PA 18031 Re: Exercise of Renwal Option Dear Xx. Xxxxx: By your September 24, 2008 e-mail to Xxxxx Xxxxxxx (copy attached), you provided notice that CyOptics was exercising the second of five (5), two (2) year option terms (Option Term Two pursuant to Section 6(c)) of the CyOptics lease date April 29, 2005). This correspondence confirms the Landlord’s receipt and acceptance of CyOptics, Inc.’s notice to exercise the aforementioned option, but please note that the renewal term commences April 1, 2009 and expires March 31, 2011. Sincerely, MRA Realty, Inc., As Agent for Xxxxxxxx Tek Partners, LP Xxxxx Xxxxxxxx Lease Administration Enclosure
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Samples: Lease Agreement (Cyoptics Inc)
Renewal Option Two. Five (5), two (2) year renewal options, each exercisable on six (6) months advance written notice, on the same terms set forth above except that Rent, Utilities, and Operating Expenses payable during such renewal term(s) shall be as follows: Option Term One: Annual Base Rent $10.00/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Two: $10.50/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Three: $11.00/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Four: $11.50/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Five: $12.00/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs The foregoing notwithstanding, Tenant shall have the right to convert the third (3rd), fourth (4th), and fifth (5th) two (2) year renewal options set forth above to one (1) year options, upon providing Landlord twelve (12) months notice prior to exercising each such one (1) year option. Upon Tenant’s conversion of either of the third (3rd), fourth (4th), or fifth (5th) options to a one (1) year option, each successive option term shall thereafter automatically be converted to a one (1) year option. Please confirm receipt and acceptance of this formal notification by directing your written response to Xxxx Xxxxx, CyOptics CFO, located on the Tel Park Campus. Please feel free to direct any questions to Matt on 000-000-0000. 000 Xxxx Xxxxxxxxxx Xxxx, Xxxxx 000 Xxxxxxxx Xxxxxxx, Xxxxxxxxxxxx 00000 P. 610.238.0500 · F. 610.238.0140 xxx.xxxxxxxx.xxx December 8, 2008 Certified Mail Xxxx Xxxxx, CFO CyOptics, Inc. Two Tek Park 0000 Xxxxxxxx Xxxx Breinigsville, PA 18031 Re: Exercise of Renwal Option Dear Xx. Xxxxx: By your September 24, 2008 e-mail to Xxxxx Xxxxxxx (copy attached), you provided notice that CyOptics was exercising the second of five (5), two (2) year option terms (Option Term Two pursuant to Section 6(c)) of the CyOptics lease date April 29, 2005). This correspondence confirms the Landlord’s receipt and acceptance of CyOptics, Inc.’s notice to exercise the aforementioned option, but please note that the renewal term commences April 1, 2009 and expires March 31, 2011. Sincerely, MRA Realty, Inc., As Agent for Xxxxxxxx Tek Partners, LP /s/ Xxxxx Xxxxxxxx Xxxxx Xxxxxxxx Lease Administration EnclosureEnclosure From: Xxxxx, Xxxx [xxxxxx@xxxxxxxx.xxx] Sent: Wednesday, September 24, 2008 5:08 PM To: Xxxxx Xxxxxxx Cc: Xxxxxxxxxx, Xx Subject: CyOptics Lease Advance Notice Xxxxx, Per the current lease agreement between MRA and CyOptics, Inc dated April 29, 2005 for space in the Tek Park Campus located at 0000 Xxxxxxxx Xxxx, Breinigsville, PA 18031, this serves as advance notice that CyOptics wishes to exercise renewal option term two as defined in Section 6(c) of the agreement and printed below effective with two year term beginning April 30, 2009.
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Renewal Option Two. Five (5), two (2) year renewal options, each exercisable on six (6) months advance written notice, on the same terms set forth above except that Rent, Utilities, and Operating Expenses payable during such renewal term(s) shall be as follows: Option Term One: Annual Base Rent $10.00/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Two: Two (effective April 30, 2009) $10.50/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Three: $11.00/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Four: $11.50/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Five: $12.00/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs The foregoing notwithstanding, Tenant shall have the right to convert the third (3rd), fourth (4th), and fifth (5th) two (2) year renewal options set forth above to one (1) year options, upon providing Landlord twelve (12) months notice prior to exercising each such one (1) year option. Upon Tenant’s conversion of either of the third (3rd), fourth (4th), or fifth (5th) options to a one (1) year option, each successive option term shall thereafter automatically be converted to a one (1) year option. Please confirm receipt and acceptance of this formal advance notification by directing your written response to Xxxx Xxxxx, CyOptics CFO, located on the Tel Tek Park Campus. Please feel free to direct any questions to Matt me on 000-000-0000. 000 Xxxx Best wishes. Matt March 26, 2009 Xx. Xx Xxxxxxxxxx Xxxx, Xxxxx 000 Xxxxxxxx Xxxxxxx, Xxxxxxxxxxxx 00000 P. 610.238.0500 · F. 610.238.0140 xxx.xxxxxxxx.xxx December 8, 2008 Certified Mail Xxxx Xxxxx, CFO CyOpticsCyoptics, Inc. Two Tek Park 0000 Xxxxxxxx Xxxx Xxxxxxxxx Breinigsville, PA 18031 ReHAND DELIVERED RE: Exercise Lease Agreement made by and between Xxxxxxxx TEK Partners, L.P, (“Landlord”) and Cyoptics, Inc. (“Tenant”) for Premises known as Two TEK Park, located at 0000 Xxxxxxxx Xxxxxxxxx, Breinigsville PA 18031 Dear Xx. Xxxxxxxxxx: Pursuant to the terms of Renwal Option the above referenced Lease and your request to exercise the second of five, two-year option terms, we are notifying you of the terms and conditions for the renewal term commencing April 1, 2009 and expiring on March 31, 2011, as follows: Annual Base Rent will be $10.50 per square foot for 103,000 square feet of leased premises, which equals $1,081,500.00 per year, payable in equal monthly installments of $90,125.00. Xxxxxxxx Tek Partners has completed the campus building operating budget for Tek Park for the Calendar Year 2009. Tek Park’s Operating Expenses for 2009 are projected to be $4.93 per square foot. Your monthly CAM expense will continue to be $50,000.00 per month. With regard to your 2009 utility expenses, we have increased your monthly expense to $200,000 per month from April 1, 2009 through December 31, 2009 in an effort to reduce the amount of Cyoptic’s shortfall at the end of the year. The difference of $50,000 for January, February and March, 2009, has already been included in the $200,000.00 per month utility expenses. MRA Realty, Inc. · MRA Development Services, Inc. · MRA Realty Advisors 000 Xxxx Xxxxxxxxxx Pike · Suite 200 · Plymouth Xxxxxxx, XX 00000 · PH 000-000-0000 · FAX 000-000-0000 xxxx@xxxxxxxx.xxx · xxx.xxxxxxxx.xxx To reconcile the 2008 expenses, we have calculated Cyoptic’s share as follows: Utilities $ 2,255,491.55 $ 1,800,000.00 $ 455,491.55 CAM $ 508,418.17 * $ 600,000.00 $ (91,581.83 ) $ 363,909.72 Radio Components $ (850.00 ) Cost for Services (CUP) $ (30,000.00 ) UPS batteries $ (5,000.00 ) Total Due Xxxxxxxx Tek Partners $ 328,059.72 Effective April 1, 2008, please remit the one time payment of $328,059.72 or in the alternative, you may divide that amount into nine equal monthly payments of $36,451.08. In summary, the following amounts are due to Xxxxxxxx Tek Partners: 2008 Utility Adjustment $ 36,451.08 2009 Utilities $ 200,000.00 CAM 2009 $ 50,000.00 TOTAL DUE MONTHLY $ 286,451.08 If you have questions please do not hesitate to contact me at (000) 000-0000. Respectfully, MRA Realty, Inc. as Agent on behalf of Xxxxxxxx TEK Partners, LP Xxxx Xxxxxxx Director of Operations 0 Xxxxxxx Xxxx, Xxxxx 000 Xxxxxxx, Xxxxxxxxxxxx 00000 P. 215.449.2442 · F. 215.449.2443 xxx.xxxxxxxx.xxx October 19, 2010 CERTIFIED MAIL # 7010 1670 0002 4976 7036 Mr. Xxxx Xxxxx CFO, CyOptics, Inc. 0000 Xxxxxxxx Xxxxxxxxx Breinigsville, PA 18031 Dear Xx. Xxxxx: By We are in receipt of your letter dated September 2427, 2008 e-mail to Xxxxx Xxxxxxx (copy attached), 2010 in which you provided notice that CyOptics was CyOptics, Inc. is exercising the second its third of five (5), two (2) year option terms (Option Term Two renewal options pursuant to Section 6(c)) , Option Term Three (3), of the CyOptics lease date dated April 29, 2005). This correspondence confirms the Landlord’s receipt and acceptance of CyOptics, Inc.’s ’ notice to exercise the aforementioned option, but please . Please note that the renewal term commences April 1, 2009 2011 and expires March 31, 20112013. SincerelyAccording to the terms of the Lease, the Annual Base Rent will be increased to $11.00 per square foot, which equals $1,133,000.00 per year, payable in monthly installments of $94,416.67. As always, please feel free to contact me if you have any questions or comments. Respectfully, MRA Realty, Inc., As Inc. as Agent for on behalf of Xxxxxxxx Tek TEK Partners, LP Xxxx Xxxxxxxxx Vice President Copy to: Xx Xxxxxxxxxx, CyOptics, Inc. Xxxxx Xxxxxxx, Xxxxxxxx Lease Administration EnclosureTEK Partners, LP This AMENDMENT TO LEASE (“Amendment”) is made and entered into this 12th day of November, 2010, but effective as of November, 1, 2010 (the “Effective Date”) by and between XXXXXXXX TEK PARTNERS, L.P., a Pennsylvania limited partnership and successor to TriQuint Optoelectronics, Inc., hereinafter referred to as “Landlord” and CYOPTICS, INC., a Delaware corporation hereinafter referred to as “Tenant”.
Appears in 1 contract
Samples: Lease Agreement (Cyoptics Inc)
Renewal Option Two. Five (5), two (2) year renewal options, each exercisable on six (6) months advance written notice, on the same terms set forth above except that Rent, Utilities, and Operating Expenses payable during such renewal term(s) shall be as follows: Option Term One: Annual Base Rent $10.00/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Two: Two (effective April 30, 2009) $10.50/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Three: $11.00/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Four: $11.50/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs Option Term Five: $12.00/sq. ft. NNN, plus Tenant’s Proportionate Share of Property Operating Costs The foregoing notwithstanding, Tenant shall have the right to convert the third (3rd), fourth (4th), and fifth (5th) two (2) year renewal options set forth above to one (1) year options, upon providing Landlord twelve (12) months notice prior to exercising each such one (1) year option. Upon Tenant’s conversion of either of the third (3rd), fourth (4th), or fifth (5th) options to a one (1) year option, each successive option term shall thereafter automatically be converted to a one (1) year option. Please confirm receipt and acceptance of this formal advance notification by directing your written response to Xxxx Xxxxx, CyOptics CFO, located on the Tel Tek Park Campus. Please feel free to direct any questions to Matt me on 000-000-0000. 000 Best wishes. Matt March 26, 2009 Mr. Ed CoringratoCyoptics, Inc.Two Tek Park9999 Xxxxxxxx XxxxxxxxxXxxxxxxxxxxxx, XX 00000 HAND DELIVERED RE: Lease Agreement made by and between Xxxxxxxx TEK Partners, L.P, (“Landlord”) and Cyoptics, Inc. (“Tenant”) for Premises known as Two TEK Park, located at 0000 Xxxxxxxx Xxxxxxxxx, Breinigsville PA 18031 Dear Xx. Xxxxxxxxxx: Pursuant to the terms of the above referenced Lease and your request to exercise the second of five, two-year option terms, we are notifying you of the terms and conditions for the renewal term commencing April 1, 2009 and expiring on March 31, 2011, as follows: Annual Base Rent will be $10.50 per square foot for 103,000 square feet of leased premises, which equals $1,081,500.00 per year, payable in equal monthly installments of $90,125.00. Xxxxxxxx Tek Partners has completed the campus building operating budget for Tek Park for the Calendar Year 2009. Tek Park’s Operating Expenses for 2009 are projected to be $4.93 per square foot. Your monthly CAM expense will continue to be $50,000.00 per month. With regard to your 2009 utility expenses, we have increased your monthly expense to $200,000 per month from April 1, 2009 through December 31, 2009 in an effort to reduce the amount of Cyoptic’s shortfall at the end of the year. The difference of $50,000 for January, February and March, 2009, has already been included in the $200,000.00 per month utility expenses. To reconcile the 2008 expenses, we have calculated Cyoptic’s share as follows: Utilities $ 2,255,491.55 $ 1,800,000.00 $ 455,491.55 CAM $ 508,418.17 * $ 600,000.00 $ (91,581.83 ) $ 363,909.72 * @ $4.94 actuals Radio Components $ (850.00 ) Cost for Services (CUP) $ (30,000.00 ) UPS batteries $ (5,000.00 ) Total Due Xxxxxxxx Tek Partners $ 328,059.72 Effective April 1, 2008, please remit the one time payment of $328,059.72 or in the alternative, you may divide that amount into nine equal monthly payments of $36,451.08. In summary, the following amounts are due to Xxxxxxxx Tek Partners: 2008 Utility Adjustment $ 36,451.08 2009 Utilities $ 200,000.00 CAM 2009 $ 50,000.00 TOTAL DUE MONTHLY $ 286,451.08 If you have questions please do not hesitate to contact me at (000) 000-0000. Respectfully, MRA Realty, Inc. as Agent on behalf of Xxxxxxxx TEK Partners, LP /s/ Xxxx Xxxxxxxxxx XxxxXxxxxxx Xxxx Xxxxxxx Director of Operations October 19, 2010 CERTIFIED MAIL # 7010 1670 0002 4976 7036 Mr. Xxxx Xxxxx 000 Xxxxxxxx XxxxxxxCFO, Xxxxxxxxxxxx 00000 P. 610.238.0500 · F. 610.238.0140 xxx.xxxxxxxx.xxx December 8, 2008 Certified Mail Xxxx Xxxxx, CFO CyOptics, Inc. Two Tek Park 0000 Xxxxxxxx Xxxx Xxxxxxxxx Breinigsville, PA 18031 Re: Exercise of Renwal Option Dear Xx. Xxxxx: By We are in receipt of your letter dated September 2427, 2008 e-mail to Xxxxx Xxxxxxx (copy attached), 2010 in which you provided notice that CyOptics was CyOptics, Inc. is exercising the second its third of five (5), two (2) year option terms (Option Term Two renewal options pursuant to Section 6(c)) , Option Term Three (3), of the CyOptics lease date dated April 29, 2005). This correspondence confirms the Landlord’s receipt and acceptance of CyOptics, Inc.’s ’ notice to exercise the aforementioned option, but please . Please note that the renewal term commences April 1, 2009 2011 and expires March 31, 20112013. SincerelyAccording to the terms of the Lease, the Annual Base Rent will be increased to $11.00 per square foot, which equals $1,133,000.00 per year, payable in monthly installments of $94,416.67. As always, please feel free to contact me if you have any questions or comments. Respectfully, MRA Realty, Inc., As Inc. as Agent for on behalf of Xxxxxxxx Tek TEK Partners, LP /s/ Xxxx Xxxxxxxxx Xxxx Xxxxxxxxx Vice President Copy to: Xx Xxxxxxxxxx, CyOptics, Inc. Xxxxx Xxxxxxx, Xxxxxxxx Lease Administration EnclosureTEK Partners, LP This AMENDMENT TO LEASE (“Amendment”) is made and entered into this 12th day of November, 2010, but effective as of November, 1, 2010 (the “Effective Date”) by and between XXXXXXXX TEK PARTNERS, L.P., a Pennsylvania limited partnership and successor to TriQuint Optoelectronics, Inc., hereinafter referred to as “Landlord” and CYOPTICS, INC., a Delaware corporation hereinafter referred to as “Tenant”.
Appears in 1 contract
