EXHIBIT 10.15
SECOND AMENDMENT TO LEASE dated this 10th day of July 2000, by and
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between TRANSCUBE ASSOCIATES, a New Jersey Partnership having an office at 000
Xxxxxxx Xxxxxx, Xxxxxxxxx, Xxx Xxxxxx 00000, hereinafter called the "Landlord";
and Measurement Specialties Inc., a New Jersey Corporation, having an address at
00 Xxxxxx Xxxxx Xxxx, Xxxxxxxxx, Xxx Xxxxxx 00000, hereinafter called the
"Tenant".
W I T N E S S E T H :-
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WHEREAS, the Landlord owns certain lands and premises in the Township of
Fairfield, County of Essex and State of New Jersey, which lands and premises are
commonly known as 00 Xxxxxx Xxxxx Xxxx, upon which there has been erected a
building containing approximately 125,692 square feet hereinafter called the
"Building"; and
WHEREAS, Landlord and Tenant have previously entered into a lease agreement
dated May 4, 1994, as amended by Amendment to Lease dated February 24, 1997,
hereinafter collectively called the "Lease", in connection with the leasing of
approximately 18,524 square feet in the Building, hereinafter called the "leased
premises; and
WHEREAS, the Landlord and Tenant have agreed to extend the Lease for a
further period of three (3) years in accordance with the terms and conditions
hereinafter provided.
NOW, THEREFORE, in consideration of the sum of one ($1.00) DOLLAR and other good
and valuable consideration, the parties hereto covenant and agree as follows:
1. The Lease is hereby extended for a further period of three (3) years,
which Lease extension shall commence as of July 1, 2000, and shall
expire as of June 30, 2003, hereinafter called the "Extended Term".
2. Tenant shall pay Fixed Rent during the Extended Term in the amount of
ONE HUNDRED THIRTY EIGHT THOUSAND NINE HUNDRED THIRTY AND 00/100
($138,930.00) DOLLARS per annum, in equal installments of ELEVEN
THOUSAND FIVE HUNDRED SEVENTY-SEVEN AND 50/100 ($11,577.50) DOLLARS
per month, in the same manner as provided in Article 3 of the Lease,
together with all additional rent and other charges set forth in
therein.
3. Except as hereinabove referred to, all other terms and conditions of
the Lease shall remain in full force and effect, unimpaired and
unmodified.
4. This agreement shall be binding upon the parties hereto, their heirs,
successors and assigns.
IN WITNESS WHEREOF, the parties here to have caused these presents to be
executed by their proper corporate officers and caused their proper corporate
seals to be hereto affixed the day and year first above written.
WITNESS: TRANSCUBE ASSOCIATES
/S/ /S/ Xxxxxxx Xxxxxxxxxx
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Xxxxxxx Xxxxxxxxxx
/S/ /S/ Xxxxx Xxxxx
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Xxxxx Xxxxx
ATTEST: MEASUREMENT SPECIALTIES, INC.
/S/ /S/ Xxxx X. Xxxxxxxx
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Xxxx X. Xxxxxxxx, CFO
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