THIRD AMENDMENT TO AMENDED AND RESTATED LEASE AGREEMENT NO. 4
Exhibit 10.3
THIRD AMENDMENT TO
AMENDED AND RESTATED LEASE AGREEMENT NO. 4
THIS THIRD AMENDMENT TO AMENDED AND RESTATED LEASE AGREEMENT NO. 4 (this “Amendment”) is made and entered into as of September 23, 2015 by and between HPT TA PROPERTIES TRUST, a Maryland real estate investment trust, and HPT TA PROPERTIES LLC, a Maryland limited liability company, as landlord (collectively, “Landlord”), and TA OPERATING LLC, a Delaware limited liability company, as tenant (“Tenant”).
W I T N E S S E T H:
WHEREAS, Landlord and Tenant are parties to that certain Amended and Restated Lease Agreement No. 4, dated as of June 9, 2015, as amended by that certain First Amendment to Amended and Restated Lease Agreement No. 4, dated as of June 16, 2015, and that certain Second Amendment to Amended and Restated Lease Agreement No. 4, dated as of June 23, 2015 (as so amended, the “Lease”), pursuant to which Landlord leases to Tenant and Tenant leases from Landlord certain land and/or improvements, all as set forth in the Lease; and
WHEREAS, as of the date of this Amendment, HPT TA Properties Trust has acquired from Tenant certain land and improvements comprising a travel center having an address at 0000 Xxxxxxx Xxxxx, Xxxxxxxx, Xxxxxxx 00000, as further described on Exhibit A-38 attached to this Amendment (collectively, the “Holbrook Property”); and
WHEREAS, Landlord and Tenant desire to amend the Lease to include the Holbrook Property as a Property (as defined in the Lease);
NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, the mutual receipt and legal sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree, as of the date of this Amendment, as follows:
1. Capitalized Terms. Capitalized terms used and not otherwise defined in this Amendment shall have the meanings given such terms in the Lease.
2. Commencement Date. The defined term “Commencement Date” shall mean, with respect to the Holbrook Property, the date of this Amendment.
3. Minimum Rent. The defined term “Minimum Rent” set forth in Section 1.68 of the Lease is hereby deleted in its entirety and replaced with the following:
“Minimum Rent” shall mean Forty-Three Million Nine Hundred Eighty-One Thousand Three Hundred Sixty-Three and 70/100ths Dollars ($43,981,363.70), subject to adjustment as provided in Section 3.1.1(b).
4. Leased Property. Section 2.1(a) of the Lease is hereby amended by deleting the reference to “Exhibits A-1 through A-37” in the second line thereof and replacing it with a reference to “Exhibits A-1 through A-38”.
5. Exhibit A. Exhibit A to the Lease is hereby amended by (a) deleting the initial page entitled “EXHIBITS A-1 through A-37” therefrom in its entirety and replacing it with the page entitled “EXHIBITS A-1 through A-38” attached hereto and (b) adding Exhibit A-38 attached to this Amendment immediately following Exhibit A-37 to the Lease.
6. Exhibit B. Exhibit B to the Lease is hereby deleted in its entirety and replaced with Exhibit B attached to this Amendment.
7. Ratification. As amended hereby, the Lease is hereby ratified and confirmed and all other terms remain in full force and effect.
[Signature Page Follows]
IN WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be duly executed, as a sealed instrument, as of the date first above written.
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LANDLORD: | |
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HPT TA PROPERTIES TRUST | |
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By: |
/s/ Xxxx X. Xxxxxxxx |
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Xxxx X. Xxxxxxxx |
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Treasurer and Chief Financial Officer |
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HPT TA PROPERTIES LLC | |
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By: |
/s/ Xxxx X. Xxxxxxxx |
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Xxxx X. Xxxxxxxx |
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Treasurer and Chief Financial Officer |
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TENANT: | |
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TA OPERATING LLC | |
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By: |
/s/ Xxxx X. Xxxxx |
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Xxxx X. Xxxxx |
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Executive Vice President |
Reference is made to that certain Guaranty Agreement, dated as of June 9, 2015, given by TRAVELCENTERS OF AMERICA LLC and TRAVELCENTERS OF AMERICA HOLDING COMPANY LLC, each a Delaware limited liability company (collectively, “Guarantors”), to Landlord with respect to Tenant’s obligations under the Lease (the “Guaranty”). Guarantors hereby confirm that all references in such Guaranty to the word “Lease” shall mean the Lease, as defined therein, as amended by this Amendment (and any prior amendments referenced in this Amendment), and said Guarantors hereby reaffirm the Guaranty.
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TRAVELCENTERS OF AMERICA LLC | |
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By: |
/s/ Xxxx X. Xxxxx |
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Xxxx X. Xxxxx |
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Executive Vice President |
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TRAVELCENTERS OF AMERICA HOLDING COMPANY LLC | |
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By: |
/s/ Xxxx X. Xxxxx |
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Xxxx X. Xxxxx |
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Executive Vice President |
EXHIBITS A-1 through A-38
Land
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Exhibit |
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TA Site No. |
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Property Address |
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A-1 |
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224 |
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0000 Xxxxxxx 000 X, Xxxxxxxx, XX 00000. |
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A-2 |
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41 |
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00000 Xxxxxx Xxxx, Xxxxxxxxx, XX 00000. |
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A-3 |
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346 |
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00000 Xxxx Xxxxxxx Xx., Xxxxx Xxxxx, XX 00000. |
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A-4 |
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148 |
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0000 Xxxxxx Xxxxxx, Xxxxxxxx Xxxx (Xxxxxx Xxxx), XX 00000. |
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A-5 |
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22 |
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000 Xxxx Xxxx, Xxxxxxxxxx, XX 00000. |
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A-6 |
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53 |
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000 Xx. Xx. 00, Xxxxxxxx, XX 00000. |
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A-7 |
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45 |
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X.X. Xxx 000, Xxxxxxx, XX 00000. |
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A-8 |
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367 |
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0000 Xxxxx Xx., Xxxxx, XX 00000. |
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A-9 |
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43 |
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0000 Xxxxxxxx, Xx. Xxxxxx, XX 00000. |
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A-10 |
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257 |
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00000 X. Xxxxx Xx. 00, Xxxxxxx, XX 00000. |
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A-11 |
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220 |
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0000 Xxxx XX Xxx 00, Xxxxxx, XX 00000. |
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A-12 |
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252 |
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0000 XX Xxx 00, Xxxx (Xxxx Xxxxxxxx), XX 00000. |
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A-13 |
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28 |
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000 Xxxxxxxx Xxxx, Xxxxxx, XX 00000. |
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A-14 |
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180 |
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0000 Xxxxx Xxxx., Xxxxxxx, XX 00000. |
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A-15 |
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19 |
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0000 Xxxxxx Xxxx, Xxxxxx, XX 00000. |
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A-16 |
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175 |
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0000 X. Xxxxxxx Xxxx Xxxx, Xxxxxxxxx, XX 00000. |
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A-17 |
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193 |
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0000 X. Xxxxxxx Xx., Xxxx (Xxxxx Xxxxxx), XX 00000. |
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A-18 |
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6 |
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0 Xxxxxxx Xxxx, Xxxxxxxx, XX 00000. |
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A-19 |
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81 |
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0000 Xxxxxxxxxx Xxxx. XX, Xxxxxxxxxxx, XX 00000. |
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A-20 |
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207 |
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000 Xxxxx Xxxxx Xx., Xxxxxxxxxx, XX 00000. |
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A-21 |
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194 |
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0000 Xxxxxxxxx Xx., Xxxxx (Xxxxxxxx), XX 00000. |
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A-22 |
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221 |
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000 Xxxxxxx Xxxx, Xxxxxxx, XX 00000. |
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A-23 |
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701 |
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000 XX 000 Xxxx, Xxxxxxx, XX 00000. |
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A-24 |
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139 |
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00000 XX Xx. 00 XX, Xxxxxxxxxxxxxx, XX 00000. |
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A-25 |
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95 |
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0000 Xxxxxxx Xx. XX, Xxxxx Xxxxxx, XX 00000. |
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A-26 |
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152 |
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X.X. Xxx 000, Xxxxx, XX 00000. |
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A-27 |
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67 |
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0000 XX 0, Xxxxxxxxxxx (Xxxxxxxxxxx), XX 00000. |
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A-28 |
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68 |
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0000 Xxxxxxx Xxxxxx Xxxxx, Xxxxx, XX 00000. |
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A-29 |
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179 |
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0000 Xxxxxxxx Xxxxxxx, Xxxxxxx, XX 00000. |
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A-30 |
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245 |
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000 Xxx. 000, Xxxxxxx (Xxxxxxx), XX 00000. |
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A-31 |
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34 |
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000 X. Xxxxx Xxxxxx, Xxxxxxxxx, XX 00000. |
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A-32 |
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150 |
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0000 Xxxxxx Xxxx Xxxx, Xxxxxx (Xxxxx), XX 00000. |
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A-33 |
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153 |
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0000 Xxxxxxx Xxxxxxx, Xxxxxx, XX 00000. |
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A-34 |
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232 |
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0000 X-00 Xxxxx, Xxx Xxxxxxxxx, XX 00000. |
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X-00 |
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00 |
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XX0, Xxxxxx Xxxxx, XX 00000. |
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A-36 |
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188 |
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X.X. Xxx 000, Xx. Xxxxxxx, XX 00000. |
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A-37 |
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242 |
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00000 Xxxxxx Xxxx Xxxx, Xxxxxx Xxxxx, XX 00000. |
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A-38 |
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246 |
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0000 Xxxxxxx Xxxxx, Xxxxxxxx, XX 00000 |
[See attached copies.]
EXHIBIT B
NEW PROPERTIES
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TA Site No. |
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Property Address |
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346 |
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00000 Xxxx Xxxxxxx Xx., Xxxxx Xxxxx, XX 00000. |
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367 |
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0000 Xxxxx Xx., Xxxxx, XX 00000. |
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252 |
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0000 XX Xxx 00, Xxxx (Xxxx Xxxxxxxx), XX 00000. |
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153 |
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0000 Xxxxxxx Xxxxxxx, Xxxxxx, XX 00000. |
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242 |
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00000 Xxxxxx Xxxx Xxxx, Xxxxxx Xxxxx, XX 00000. |
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246 |
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0000 Xxxxxxx Xxxxx, Xxxxxxxx, XX 00000 |
