FIRST AMENDMENT TO LEASE
Exhibit 10.2
FIRST AMENDMENT TO LEASE
this first amendment TO lease (this “Amendment”) dated August 11, 2000 is intended to amend, and by this reference be incorporated into, that certain Office Lease dated June 28, 1999; by and between Imperial promenade associates, LLC, a Delaware limited liability company, as Landlord, and MSC. SOFTWARE CORPORATION, a Delaware corporation, as Tenant (the “Lease”).
Where, and to the extent that, any of the provisions contained in this Amendment are contrary to or inconsistent with any provision contained in the Lease, the provisions contained in this Amendment shall control. All terms not otherwise defined herein but defined in the Lease shall have the same meaning in this Amendment as in the Lease.
The Lease shall be amended in the following respects:
1. Amends Basic Lease Provisions Item 2:
Address: “2” MacArthur Place
2. Amends Basic Lease Provisions Item 3:
Description of Premises: Floor(s) 2-7, and approximately 17,784 square feet on Floor 1. Suites 100, 200, 300,400, 500, 600, 700
Rentable Area: approximately 156,663 square feet (see Exhibit “A-4”)
3. Amends Basic Lease Provisions Item 4:
Tenant’s Proportionate Share of Operating Costs: 38.5%
4. Amends Basic Lease Provisions Item 5:
The Basic Annual Rent shall be twelve (12) times the following monthly amounts:
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Partial Lease Month: |
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$ 7,780.92 per day ($1.49/rentable sq. ft./mo NNN) |
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Mos. 6-65: |
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$233,427.87 per month ($1.49/rentable sq. ft/mo NNN) |
The remainder of Item 5 shall remain unchanged
5. Supplements Basic Lease Provisions Item 6:
Initial Monthly Installment of Basic Annual Rent Payable Upon Execution of this Amendment: $47,113.80
6. Amends Basic Lease Provisions Item 14:
Addresses for Notices:
Landlord’s Address for notices is:
3 Imperial Promenade, Ste. 000
Xxxxx Xxxx Xxxxx, XX 00000
XXX.Xxxxxxxx’s address after occupancy of the Premises will be:
0 XxxXxxxxx Xxxxx, Xxx. 000
Xxxxx Xxxxx Xxxxx, XX 00000
7. Replaces Lease Section 20(a):
Rental Abatement. As consideration for Tenant’s performance of all of its obligations under the Lease, Landlord hereby conditionally (i) grants Tenant a rent free fixturization period during months one (1) and two (2) of the Lease Term in the amount of $466,855.74 (i.e., $233,427.87 per month) (“Fixturization Period”), and (ii) excuses Tenant from the payment of the monthly installment of Basic Annual Rent during Months three (3) through five (5) of the term of this Lease in the amount of $700,283.61 (i.e., $233,427.87 per month) (“Deferred Rent Period”), together with Tenant’s Proportionate Share of Operating Costs during such period, provided that Tenant shall not be in an uncured material default in its obligations under this Lease during months 1-144 of the Lease term only. Should Tenant at any time during months 1-144 of the Lease term be in default under this Lease and not cure such default within the cure periods provided in this Lease, then the total sum of such Rent so conditionally excused shall become immediately due and payable by Tenant to Landlord. If at the expiration of the 144th month of the term, Tenant has not so defaulted, Landlord shall waive any payment of all such Rent so conditionally excused.
8. Tenant has requested and Landlord has agreed to move the current sixth (6th) floor executive floor plan to the seventh (7th) floor of the Building and to work with Landlord and Gensler to determine the most appropriate floor plan for floor six. The changes contemplated for floors six and seven (the “Revised Floors”) shall cause a Tenant Delay as defined in the Work Letter.
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Attached as Exhibit “A” is a schedule, representing the milestones for the design and construction of the Revised Floors. The Commencement Date, as set forth in the Lease, for the Premises (as modified by this Amendment) shall be based on Substantial Completion of Floors 1 thru 5, and notwithstanding the actual date of Substantial Completion for the Revised Floors. All other terms and conditions of the Work Letter shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date stated above.
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LANDLORD |
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TENANT |
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IMPERIAL
PROMENADE ASSOCIATES, LLC, |
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XXX.XXXXXXXX
CORPORATION, |
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By: |
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By: |
/s/ Xxxxx X Xxxxx |
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Xxxxxx X. Xxxxx, Managing Member |
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Its: |
XXXXX X. XXXXX |
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Date: |
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Date: |
August 11, 2000 |
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By: |
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Exhibit “A”
Revised Floors
Design and Construction Milestones
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Scheduled Completion Date |
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Tenant Approval of Space Plan |
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08/16/00 |
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Preliminary Budget Approval |
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08/24/00 |
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Issue Construction Documents |
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10/04/00 |
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Tenant Approval of Construction Documents |
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10/18/00 |
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Issue Final Budget Estimate |
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10/27/00 |
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Final Budget Estimate Approval |
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11/01/00 |
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Building Permit |
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11/09/00 |
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Tenant Improvements |
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03/01/01 |
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Floor 6 |
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03/14/01 |
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Floor 7 |
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03/28/01 |
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