Exhibit 10(b)(v)
THIRD AMENDMENT OF LEASE
THIS THIRD AMENDMENT OF LEASE, dated as of January 1, 1997,
between XXXXXX XXXXXXX, DOING BUSINESS AS STEPAR LEASING COMPANY, having an
office at 00 Xxxxxx Xxxxx, Xxxxxxxxxx Xxxxxxx, Xxx Xxxx 00000 ("Landlord"), and
AMERICAN TECHNICAL CERAMICS CORP., a Delaware corporation having its principal
executive office at Xxx Xxxxxx Xxxx, Xxxxxxxxxx Xxxxxxx, Xxx Xxxx 00000
("Tenant").
W I T N E S S E T H :
WHEREAS, Xxxxxx Xxxxxxx (predecessor-in-interest to Landlord)
leased to Phase Industries, Inc. (predecessor-in-interest to Tenant) the real
property known as 00 Xxxxxx Xxxxx, Xxxxxxxxxx Xxxxxxx, Xxx Xxxx, and all
buildings and improvements thereon (collectively, the "Premises") pursuant to
an Indenture of Lease (the "Original Lease"), dated as of July 15, 1976, as
amended by an Amendment to Lease Agreement (the "First Amendment"), dated May
8, 1984, and a Second Amendment of Lease (the "Second Amendment"), dated as of
February 9, 1989 (the Original Lease, the First Amendment and the Second
Amendment are hereinafter collectively referred to as the "Lease"); and
WHEREAS, since February 28, 1996, Landlord and Tenant have
operated under the terms of the Lease on a month-to-month basis; and
WHEREAS, Landlord and Tenant desire to amend the Lease to
formally extended the term thereof through December 31, 2001;.
NOW, THEREFORE, in consideration of the mutual covenants and
agreements contained herein, and for other good and valuable consideration, the
mutual receipt and legal
sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree
as follows:
1. Effective as of the date hereof, the Lease is hereby
amended as follows:
Article II of the Original Lease, as amended by Paragraph 1
of the Second Amendment, is hereby deleted in its entirety and the following
is hereby inserted in lieu thereof:
"ARTICLE II
TERM OF LEASE
TO HAVE AND TO HOLD the said demised premises unto
the Tenant, for and during a term commencing on July 15, 1976
and terminating on December 31, 2001, unless such term shall
be sooner terminated as hereinafter provided."
2. This Amendment is offered to Tenant for signature with
the express understanding and agreement that this Amendment shall not be
binding upon Landlord unless and until Landlord shall have executed and
delivered a fully executed copy of this Amendment to Tenant.
3. As modified hereby, the Lease is hereby ratified and
confirmed and continues in full force and effect.
IN WITNESS WHEREOF, Landlord and Tenant have caused this
Amendment to be executed as of January 1, 1997.
/s/ Xxxxxx Xxxxxxx
-----------------------------------------
XXXXXX XXXXXXX DOING BUSINESS AS
STEPAR LEASING COMPANY, Landlord
AMERICAN TECHNICAL CERAMICS CORP.,
Tenant
By: /s/ Xxxxxx Xxxxxxx
-------------------------------------
