Exhibit 10.24.1
AMENDMENT TO LEASE AGREEMENT
THIS AMENDMENT TO LEASE AGREEMENT made this 30th day of December, 1999.
BETWEEN:
THE MANUFACTURERS LIFE INSURANCE COMPANY
(hereinafter called the "Landlord")
OF THE FIRST PART,
and
SEAGATE SOFTWARE INFORMATION MANAGEMENT (CANADA) INC.
(hereinafter called the "Tenant")
OF THE SECOND PART,
WHEREAS by a Lease Agreement made the 27th day of December, 1994, an agreement
to the lease of Additional Premises dated December 13, 1995 and a Consent to
Sublease dated October 6, 1998 (the "Lease"), Clover investments Inc. (the
former Landlord) leased to Crystal Computer Services Inc. now operating as
Seagate Software Information Management (Canada) Inc. (the "Tenant") the
following premises:
Property: -0000 Xxxx Xxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxx Xxxxxxxx,
X0X 0X0,
Leased Premises: -10,049 sq. ft. on the 4th floor,
-10,049 sq. ft. on the 5th floor,
-10,049 sq. ft. on the 6th floor, and
-10,049 sq. ft. on the 0xx xxxxx,
Xxxx: -Five (5) years,
Basic Rent: -$233,136.80 per annum,
AND WHEREAS the land described in Schedule "B" Definition (1) of the Lease was
subsequently purchased on January 14, 1999 by the Manufacturers Life Insurance
Co. (the "Landlord"), the Landlord and the Tenant have agreed to amend the lease
to reduce the area of the Leased Premises, extend the Term of the Lease for one
(1) year, to revise the Minimum Rental and to add an additional clause to
Schedule D, Tenant's Work;
NOW WITNESSETH that in consideration of the rents, covenants and agreements
contained in the Lease, and in consideration of the covenants and agreements
hereinafter contained, and the sum of ONE DOLLAR ($1.00) now paid by each of the
parties to the other (the receipt and sufficiency of which is hereby
acknowledged), the Landlord and Tenant hereby agree to amend the Lease as
follows:
1) ARTICLE 1.1 (c) AND (d) LEASED PREMISES AND RENTABLE AREA to be
amended to read as follows: "As of the 1st day of March, 2000 (the
"Effective Date"), the Leased Premises shall be deemed to consist of
30,147 rentable square feet consisting of premises on the 5th, 6th,
and 7th floors."
2) ARTICLE 1.1. (c) (i), (ii) AND (iii) TERM, COMMENCEMENT DATE AND
LEASE EXPIRATION DATE shall be amended to read as follows: "As of
the Effective Date the Term shall be extended by one (1) year
commencing from the 1st day of March, 2000, and to be fully complete
and ended on the 28th day of February, 2001 unless otherwise
terminated as per the lease."
3) ARTICLE 1.1 (f) ANNUAL BASE RENT shall be amended to read as
follows: "As of the Effective Date the Basic Rent shall be the sum
of FIVE HUNDRED FORTY-TWO THOUSAND SIX HUNDRED FORTH-SIX Dollars
($542,646.00) of lawful money of the jurisdiction in which the
Leased Premises are located, payable in equal monthly instalments.
The monthly instalments shall be FORTY-FIVE THOUSAND TWO HUNDRED
TWENTY Dollars FIFTY Cents ($45,220.50) each in advance on the first
day of each month during the Term. The first amended payment to be
made on the 1st day of March, 2000."
4) SCHEDULE D SECTION B TENANT'S WORK SUBSECTION 2 (b) shall be amended
by the addition of the following: "The Tenant must provide the
Landlord with 'as-builts' and ensure conformity to both building
standards and City of Vancouver codes for any Tenant Improvement
work completed after November 26, 1999."
5) As of the Effective Date, Schedule B1, B2 and B3 - Outline of Leased
Premises, attached hereto, shall form part of the Lease as if the same were
embodied therein.
6) The Landlord and the Tenant hereby confirm each to the other the
several covenants and agreements in the Lease as amended by this Amendment to
Lease Agreement.
7) This Amendment to Lease Agreement and everything herein contained
shall enure to the benefit of and be binding upon the respective heirs,
executors, administrators, successors, assigns and other legal representatives,
as the case may be, of each of the parties hereto, and every reference herein to
any part hereto shall include the heirs, executors, administrators, successors,
assigns and other legal representatives of such party, and where there is more
than one tenant or there is a male or female party, the provisions hereof shall
be read with all grammatical changes thereby rendered necessary and all
covenants shall be deemed joint and several.
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IN WITNESS HEREOF the parties hereto have executed this Amendment to Lease
Agreement. I/We have authority to bind the corporation.
LANDLORD:
THE MANUFACTURERS LIFE INSURANCE COMPANY
/s/ (Illegible Signature) by Signature: /s/ Xxxx Xxxxxx
--------------------------------- --------------------------
Witness as to Name: W.V. (Xxxx) Xxxxxx
signing by Tenant Title: Regional Director
TENANT:
SEAGATE SOFTWARE INFORMATION
MANAGEMENT (CANADA) INC.
/s/ (Illegible Signature) by Signature: /s/ Xxxxx X. Xxxxx
--------------------------------- --------------------------
Witness as to Name: Xxxxx X. Xxxxx
signing by Tenant Title: VP - Legal Affairs
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