McCown De Leeuw & Co., LLC Office Service Agreement
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Exhibit 10.22
XxXxxx De Leeuw & Co., LLC
Office Service Agreement
This Agreement is dated , 2005 and is entered into between XxXxxx De Leeuw & Co., LLC ("XxXxxx De Leeuw") and MDC Acquisition Partners Inc. ("Client").
XxXxxx De Leeuw and Client agree that XxXxxx De Leeuw will provide to Client, for and in consideration of the fees set forth herein, an exclusive license to use the Offices (as defined below), and, in common with XxXxxx De Leeuw's other clients, a non-exclusive license to use XxXxxx De Leeuw's facilities and services as outlined below.
1. Basic Terms.
(a) Monthly Fixed Fee for Base Services (as defined in Section 2 below): [$5,000.00]
(b) Monthly Fixed Fee for Office Services (as defined in Section 3 below): [$5,000.00]
(c) Facilities: 000 Xxxxx Xxxx, Xxxxx 000, Xxxxxx Xxxx, XX 00000 (the "Facilities")
(d) Number of offices in the Building: 1(the "Offices")
(e) Maximum Occupancy: 1 person per office
(f) Term: a two (2) year period commencing with the effective date of Client's proposed initial public offering of its units pursuant to Client's Registration Statement on Form S-1, as amended or supplemented from time to time, (the "Registration Statement") filed with the Securities and Exchange Commission on July 5, 2005, (the "Effective Date"), until the earlier of Client's (i) failure to enter into a letter of intent, definitive agreement or agreement in principle with respect to a Business Combination (as defined in the Registration Statement) on any day during the eighteen-month period immediately following the Effective Date, and (ii) the failure to consummate a Business Combination on any day during the twenty-four-month period immediately following the Effective Date (the "Term")
2. Base Services. Client shall be provided with the exclusive use of the Offices and shall have access to the Offices twenty-four (24) hours a day, seven (7) days a week. In exchange for the Monthly Fixed Fee for Base Services, XxXxxx De Leeuw agrees to provide the following base services: office cleaning, maintenance services, office supplies, electricity, and heating and air conditioning to the Offices (the "Base Services"). In addition, Client will have reasonable use of XxXxxx De Leeuw common area facilities, conference rooms, etc. Client shall have use of the Offices and auxiliary areas of the Facilities solely for general office use in the conduct of Client's business.
If, for any reason whatsoever, XxXxxx De Leeuw is unable to deliver possession of the Offices or mutually agreed upon alternative office, at the time herein agreed, Client may either extend the Term by a period of time equal to the number of days elapsed until the Offices become available or, as its sole remedy for such failure, cancel and terminate this Agreement if the Offices are not delivered to Client within five (5) business days after written notice is delivered to XxXxxx De Leeuw by Client, in which case any prior payments shall be fully refunded. No such failure to deliver possession shall subject XxXxxx De Leeuw to any liability for any loss or damage, nor affect the validity of this Agreement or the obligations of Client hereunder.
In order to accommodate the needs of multiple potential office clients, XxXxxx De Leeuw will have the option, exercisable upon ten (10) days' prior written notice, to relocate Client to other offices within the Facilities and to substitute such other offices for the Offices contracted herein, provided that such other offices are substantially similar in area and configuration to Client's contracted offices and, provided further, that Client shall incur no increase in the total monthly fee or any relocation cost or expense.
3. Office Services. XxXxxx De Leeuw agrees, in exchange for a Monthly Fixed Fee for Office Services (which fee is in addition to the Monthly Fixed Fee for Base Services), to provide the following
office services: administrative support, including, but not limited to, information technology, secretarial and bookkeeping services as well as communications services such as unlimited use of Internet/Data, telephone, fax and photocopier (the "Office Services").
XxXxxx De Leeuw will answer all incoming phone calls during normal business hours, unless otherwise mutually agreed, as reasonably determined by XxXxxx De Leeuw.
Client acknowledges that due to the imperfect nature of verbal, written and electronic communications, XxXxxx De Leeuw shall not be responsible for any damages, direct or consequential, that may result from the failure of XxXxxx De Leeuw to furnish any service, including, but not limited to, the conveying of messages, communications and other utilities or services required under this Agreement.
Client expressly agrees to waive the right to make any claim for any damages, direct or consequential, arising out of any failure to furnish any utility, service or facility, any error or omission with respect thereto, or any delay or interruption of the same.
4. Duration of Agreement. Prior to expiration of the term, either party may terminate the Agreement upon 30 days' advance written notice to the other party. After expiration of the Term, the Agreement will automatically terminate.
5. Payments. The Monthly Fixed Fee for Base Services and the Monthly Fixed Fee for Office Services will be billed in advance. Statements will be placed in the mailbox, faxed or personally delivered to Client on the first day of each month with payment due by the fifth day of each month. If the Term shall not commence on the first day of a month or end on the last day of a month, fees for any such month shall be prorated. All amounts payable hereunder shall be payable at the office of XxXxxx De Leeuw or to such other location or to any agent designated in writing by XxXxxx De Leeuw.
6. Damages and Insurance. Client will not damage or deface the furnishings, walls, floors or ceiling in the Facilities. Client will not cause damage to any part of the Facilities or disturb the quiet enjoyment of any other licensee or occupant of the Facilities nor suffer to be made any waste, obstruction or unlawful, improper or offensive use of the Offices or the common area of the Facilities. Upon termination of this Agreement, Client will return the Offices in as good of condition as when Client took possession, though normal wear and tear shall be expected. XxXxxx De Leeuw shall have the right to show the Offices to prospective clients, provided that XxXxxx De Leeuw will use reasonable efforts not to disrupt Client's business.
XxXxxx De Leeuw and its respective directors, licensors, officers, agents, servants and employees shall not, to the extent permitted by law, except upon the affirmative showing of XxXxxx De Leeuw's gross negligence or willful misconduct, be liable for, and Client waives all right of recovery against such entities and individuals for any damage or claim with respect to any injury to person or damage to, or loss or destruction of any property of Client, its employees, authorized persons and invitees due to any act, omission or occurrence in or about the Facilities. Without limitation of any other provision hereof, Client agrees to indemnify, defend, protect and hold XxXxxx De Leeuw and its respective directors, licensors, officers, agents, servants and employees harmless from and against all liability to third parties arising out of Client's use and occupancy of the Offices or actions or omissions of Client and its agents, employees, contractors, and invitees. Client further agrees that all personal property of Client, its agents, employees, contractors, and invitees, within or about the Facilities shall be at the sole risk of Client.
XxXxxx De Leeuw and Client each hereby waive any and all rights of recovery against each other, or against the officers, employees, agents or representatives of the other, for loss of or damage to its property or the property of others under its control, to the extent such loss or damage is covered by any insurance policy.
If the Facilities are made unusable, in whole or in part by fire or other casualty not due to the negligence of Client, XxXxxx De Leeuw may, at its option, terminate the Agreement upon notice to
Client, effective upon such casualty, or may elect to repair, restore, or rehabilitate, or cause to be repaired, restored or rehabilitated, the Facilities, without expense to Client, within ninety (90) days or within such longer period of time as may be required because of events beyond XxXxxx De Leeuw's control. The Monthly Fixed Fee for Base Services and the Monthly Fixed Fee for Office Services shall be abated on a pro rata basis for the period of time the Offices are unusable.
7. Default. The Client shall be deemed to be in default under this Agreement: (a) if Client fails to pay the Monthly Fixed Fee for Base Services or Monthly Fixed Fee for Office Services within five (5) business days after the same becomes due and payable, (b) if Client fails to promptly and fully perform any other provisions of this Agreement and any such default continues in excess of five (5) business days after written notice is delivered by XxXxxx De Leeuw, or (c) if Client fails to comply with the laws or permit licensing rules and other requirements regulating the conduct of Client's business. Should Client be in default hereunder, XxXxxx De Leeuw may terminate any or all of the services for the period of such default.
8. Miscellaneous.
(a) This is the only Agreement between the parties with respect to the subject matter set forth herein. All amendments to this Agreement shall be in writing and signed by all parties. Any attempted amendment in form other than as set forth in this Section 8(a) shall be void. The invalidity or unenforceability of any provision hereof shall not affect the remainder hereof.
(b) All waivers must be in writing and signed by the waiving party. XxXxxx De Leeuw's failure to enforce any provision of this Agreement or its acceptance of fees shall not be deemed a waiver and shall not prevent XxXxxx De Leeuw from enforcing any provisions of this Agreement in the future. No receipt of money by XxXxxx De Leeuw shall be deemed to waive any default of Client or to extend, reinstate or continue the term hereof.
(c) With respect to the trust account that will hold substantially all of the offering proceeds the Client expects to raise in the Offering (the "Trust Account"), XxXxxx De Leeuw hereby waives any right of recourse against the Trust Account and agrees not to seek reimbursement, payment or satisfaction of any claim against the Trust Account.
(d) The laws of the State of California shall govern this Agreement.
(e) Client represents and warrants to XxXxxx De Leeuw that there are no agents, brokers, finders or other parties with whom Client has dealt who are or may be entitled to any commission or fee with respect to this Agreement.
(f) Neither Client nor anyone claiming by, through or under Client shall assign this Agreement or permit the use of any portion of the Offices or the Facilities by any person other than Client.
(g) All notices hereunder shall be in writing. Notices to Client shall be deemed to be duly given if hand-delivered to Client's mailbox in the XxXxxx De Leeuw facilities at 000 Xxxxx Xxxx, Xxxxx 000, Xxxxxx Xxxx, XX 00000. Notice to XxXxxx De Leeuw shall be deemed to be duly given if mailed by registered or certified mail, postage prepaid, to 000 Xxxxx Xxxx, Xxxxx 000, Xxxxxx Xxxx, XX 00000.
(h) Client acknowledges that XxXxxx De Leeuw will comply with U.S. Postal Service regulations regarding client mail and, upon termination of this Agreement, it will be Client's responsibility to notify all parties of termination of the use of the above-described address.
(i) XxXxxx De Leeuw may assign this Agreement and/or any fees hereunder and Client agrees to attorn any such assignee.
(j) Notwithstanding anything to the contrary contained herein, Client shall look solely to the interest of XxXxxx De Leeuw in the Master Lease for the satisfaction of any of Client's remedies with regard to the payment of money or otherwise and no other property or assets of XxXxxx De Leeuw shall be subject to levy, execution or other enforcement procedures for the satisfaction of Client's remedies or with respect to this Agreement, the relationship of the parties hereunder or Client's use of the Premises, such exculpation of personal liability to be absolute.
(k) XxXxxx De Leeuw shall not be liable for any interruption or error in the performance of its services to Client. Client waives any recourse against XxXxxx De Leeuw arising from the provision of such services, including, without limitation, any claim of business interruption or for any indirect, incidental, special, consequential or punitive damages, except for claims arising out of willful misconduct by XxXxxx De Leeuw.
(l) XxXxxx De Leeuw will not be liable for any claim of business interruption or for any indirect, incidental, special, consequential, exemplary or punitive damages arising out of any failure to furnish any service or facility, any error or omission with respect thereto, or any delay or interruption of the same.
(m) XxXxxx De Leeuw and its agents will have the right of access to the Offices and the XxXxxx De Leeuw Building and facilities at any time for the purpose of (i) making any repairs, alterations and/or inspections that it deems necessary in its sole discretion for the preservation, safety or improvements of the facilities, or (ii) to show the facilities to prospective Clients without in any way being deemed or held to have committed an eviction (constructive or otherwise) of or trespass against Client.
(n) Failure of XxXxxx De Leeuw to insist upon the strict performance of any term or condition of this Agreement or to exercise any right or remedy available for a breach thereof, or acceptance of full or partial payment during the continuance of any such breach, will not constitute a waiver of any such breach or any such term or condition. No term or condition of this Agreement required to be performed by Client and no breach thereof, will be waived, altered or modified, except by a written instrument executed by XxXxxx De Leeuw.
(o) Client will comply with and be bound by all provisions of the Master Lease and, subject to the limitations listed above in Section 7, Client will indemnify and hold XxXxxx De Leeuw harmless from and against any claim or liability under the Master Lease arising from Client's breach of the Master Lease or this Agreement.
| MDC Acquisition Partners Inc. | XxXxxx De Leeuw, LLC | |||||
000 Xxxxx Xxxx, Xxxxx 000 Xxxxxx Xxxx, XX 00000 |
000 Xxxxx Xxxx, Xxxxx 000 Xxxxxx Xxxx, XX 00000 |
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By: |
By: |
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| Title | Title | |||||
| Date: | Date: | |||||
XxXxxx De Leeuw & Co., LLC Office Service Agreement
