FIRST AMENDMENT TO LEASE (Exhibit 10.15a)
----------------
THIS FIRST AMENDMENT TO LEASE (this "Amendment"), dated as of October __,1992,
by and between OLYMPIA & YORK STATE LIMITED PARTNERSHIP, a Massachusetts limited
partnership ("Landlord"), and FIRST ALBANY COMPANIES, INC., a New York
corporation ("Tenant").
WHEREAS, by a lease (the "Original Lease") dated as of June 12, 1992, Landlord
leased to Tenant 15,580 square feet of space (the "Premises") on the 29th floor
of the building (the "Building") known as and numbered 00 Xxxxx Xxxxxx, Xxxxxx,
Xxxxxxxxxxxxx; and
WHEREAS, Landlord and Tenant now mutually desire to amend the Original Lease
in various respects, including without limitation increasing the size of the
Premises by adding thereto an additional 1,248 square feet of Premises Rentable
Area (the "Additional Premises"), and adjusting the Basic Rent and certain other
definitions set forth in the Lease as a consequence of such increase.
NOW, THEREFORE, in consideration of the foregoing, and for other good and
valuable consideration, each to the other paid, the receipt and sufficiency of
which are hereby mutually acknowledged, Landlord and Tenant hereby agree as
follows:
1. That, effective as of the date hereof, the Original Lease is hereby
amended by deleting the following definitions set forth in Section 1.2 thereof,
and substituting the following therefor:
"Basic Rent: Subject to the provisions of Section 3.1, the sum of:
(i) for the period commencing on the Commencement Date and expiring
on the day immediately preceding the second anniversary of the
Commencement Date, $521,668.00 ($31.00 per square foot of Premises
Rentable Area) per annum; (ii) for the period commencing on the
second anniversary of the Commencement Date and expiring on the day
immediately preceding the fourth anniversary of the Commencement
Date, $555,324.00 ($33.00 per square foot of Premises Rentable Area)
per annum; and (iii) for the remainder of the Initial Term,
$588,980.00 ($35.00 per square foot of Premises Rentable Area) per
annum; each of which amounts includes the Electricity Allowance, as
the same may be adjusted and/or abated pursuant to Sections 7.5 and
12.1.
Electricity Allowance: $16,828.00 ($1.00 per square foot of Premises
Rentable Area) per annum, as an allowance toward the actual cost of
supplying electricity to the Premises in accordance with Section 7.5.
Escalation Factor: 0.01502, as computed in accordance with the
Escalation Factor Computation.
Premises: A portion of the 29th floor of the Building as shown on
Exhibit FP-I hereto.
Premises: Rentable Area: Agreed to be 16,828 square feet, as measured
in accordance with the Measurement Method.
2. That Tenant is leasing the Additional Premises in their AS IS
CONDITION, without representation or warranty by Landlord. Tenant
represents that it has inspected the Additional Premises and has found
the same to be fully satisfactory for their intended uses.
3. That Exhibit FP to the Original Lease is hereby deleted, and Exhibit
FP-1, annexed hereto, is substituted therefor.
4. That neither Landlord nor Tenant has dealt with any broker or other
person or firm, other than Leggat XxXxxx/Xxxxx & Xxxxx, Inc. and The
Codman Company (the "Brokers"), to whom a commission or fee is or may
be due in respect of this Amendment, and Landlord and Tenant each
hereby agrees to indemnify and hold the other harmless from and against
any and all loss, cost, damage and expense (including without
limitation reasonable attorneys' fees and costs) suffered by the other
as a result of any claim against the other (other than by Brokers) that
a fee or commission is due on account of a relationship between the
claimant and the indemnifying party.
5. That, except as hereinabove specifically amended, the Original Lease
is hereby ratified and confirmed.
IN WITNESS WHEREOF, Landlord and Tenant have signed and sealed this Amendment
as of the day and year first above written.
OLYMPIA & YORK STATE LIMITED PARTNERSHIP
By: O&Y (U.S.) Development Company Limited
Partnership, a general partner
By: O&Y (U.S.) Development General
Partner Corp., a general partner
By: ___________________________________
Vice President
FIRST ALBANY COMPANIES, INC.
By:
___________________________________
(Vice) President
By:
___________________________________
(Assistant) Treasurer
SECOND AMENDMENT TO LEASE
THIS SECOND AMENDMENT TO LEASE (this "Amendment"), dated as of May __, 1993,
by and between OLYMPIA & YORK STATE LIMITED PARTNERSHIP, a Massachusetts limited
partnership ("Landlord"), and FIRST ALBANY COMPANIES, INC., a New York
corporation ("Tenant").
WHEREAS, by a lease dated as of June 12, 1992, and amended by a First
Amendment to Lease dated as of October _, 1992, Landlord leased to Tenant 16,828
square feet of space (the "Premises") on the 29th floor of the building (the
"Building") known as and numbered 00 Xxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx (such
lease, as so amended, being referred to as the "Original Lease"); and
WHEREAS, Landlord and Tenant now mutually desire to amend the Original Lease
in various respects, including without limitation increasing the size of the
Premises by adding thereto an additional 2,100 square feet of Premises Rentable
Area (the "Additional Premises"), and adjusting the Basic Rent and certain other
definitions set forth in the Lease as a consequence of such increase.
NOW, THEREFORE, in consideration of the foregoing, and for other good and
valuable consideration, each to the other paid, the receipt and sufficiency of
which are hereby mutually acknowledged, Landlord and Tenant hereby agree as
follows:
1. That, effective as of the date hereof, the Original Lease is hereby
amended by deleting the following definitions set forth in Section 1.2
thereof, and substituting the following therefor:
"Basic Rent: Subject to the provisions of Section 3.1, the sum of:
(i) for the period commencing on the Commencement Date and expiring
on the day immediately preceding the second anniversary of the
Commencement Date, $586,768.00 ($31.00 per square foot of Premises
Rentable Area) per annum; (ii) for the period commencing on the
second anniversary of the Commencement Date and expiring on the day
immediately preceding the fourth anniversary of the Commencement
Date, $624,624.00 ($33.00 per square foot of Premises Rentable Area)
per annum; and (iii) for the remainder of the Initial Term,
$662,480.00 ($35.00 per square foot of Premises Rentable Area) per
annum; each of which amounts includes the Electricity Allowance, as
the same may be adjusted and/or abated pursuant to Sections 7.5
and 12.1.
Electricity Allowance: $18,928.00 ($1.00 per square foot of Premises
Rentable Area) per annum, as an allowance toward the actual cost of
supplying electricity to the Premises in accordance with Section 7.5.
Escalation Factor: 0.01689, as computed in accordance with the
Escalation Factor Computation.
Premises: A portion of the 29th floor of the Building as shown on
Exhibit FP-2 hereto.
Premises: Rentable Area: Agreed to be 18,928 square feet, as measured
in accordance with the Measurement Method.
2. That Tenant is leasing the Additional Premises in their AS IS
CONDITION, without representation or warranty by Landlord. Tenant
represents that it has inspected the Additional Premises and has found
the same to be fully satisfactory for their intended uses.
3. That Exhibit FP-1 to the Original Lease is hereby deleted, and Exhibit
FP-2, annexed hereto, is substituted therefor.
4. Landlord and Tenant acknowledge and confirm that the Commencement Date,
as described in Section 4.1 of the Original Lease, occurred on
October 23, 1992.
5. That neither Landlord nor Tenant has dealt with any broker or other
person or firm, to whom a commission or fee is or may be due in
respect of this Amendment, and Landlord and Tenant each hereby agrees
to indemnify and hold the other harmless from and against any and all
loss, cost, damage and expense (including without limitation reasonable
attorneys' fees and costs) suffered by the other as a result of any
claim against the other that a fee or commission is due on account of
a relationship between the claimant and the indemnifying party.
6. That, except as hereinabove specifically amended, the Original Lease
is hereby ratified and confirmed.
IN WITNESS WHEREOF, Landlord and Tenant have signed and sealed this Amendment
as of the day and year first above written.
OLYMPIA & YORK STATE LIMITED PARTNERSHIP
By: O&Y (U.S.) Development Company Limited
Partnership, a general partner
By: O&Y (U.S.) Development General
Partner Corp., a general partner
By:
__________________________________
Vice President
FIRST ALBANY COMPANIES, INC.
By:
__________________________________
President and Treasurer
By:
__________________________________
(Assistant) Treasurer
EXERCISE OF OPTION TO EXTEND
and
THIRD AMENDMENT TO LEASE
THIS THIRD AMENDMENT TO LEASE (this "Amendment"), dated as of July 9, 1998
by and between WFP 00 XXXXX XXXXXX XX. XXXXXXX PARTNERSHIP, a Massachusetts
limited partnership ("Landlord") and FIRST ALBANY COMPANIES INC., a New York
corporation ("Tenant").
WHEREAS, by a lease dated as of June 12, 1992 (the "Original Lease"), as
amended by a First Amendment to Lease dated October __, 1992 and a Second
Amendment to Lease dated May 27, 1993, such lease, as so amended, being referred
to as the "Lease", Landlord or its predecessors leased to Tenant 18,928 rentable
square feet of space (the "Premises") on the 29th floor of the building (the
"Building") known as and numbered 00 Xxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx.
WHEREAS, Landlord and Tenant now mutually desire to amend the Lease in various
respects, including without limitation, the extension of the Term pursuant to
Section 15.1 of the Lease and the modification of Basic Rent and certain other
definitions set forth in the Lease.
NOW, THEREFORE, in consideration of the foregoing, and for other good and
valuable consideration, each to the other paid, the receipt and sufficiency of
which are hereby acknowledged, Landlord and Tenant hereby agree as follows:
1. EXERCISE OF OPTION TO EXTEND. Landlord and Tenant acknowledge that
Tenant has validly exercised the option to extend the Term of the Lease
as contemplated under Section 15.1 of the Lease.
2. Basic Data. Effective as of June 1, 1999 (the "Effective Date")
Section 1.2 of the Lease is amended as follows:
(a) The following definitions are hereby added to Section 1.2 of the
Lease:
New Term: Approximately four (4) years commencing on the New
Commencement Date and expiring at the close of the business day
on June 30, 2003.
New Commencement Date: June 1, 1999.
Lease Year: Each twelve-month period commencing June 1 and
ending May 31 during the New Term.
(b) The following definitions in Section 1.2 of the Lease are hereby
amended by deleting the following definitions set forth in
Section 1.2 thereof, and substituting the following therefor:
Basic Rent: Subject to the provisions of Section 3.1, the sum of
$1,003,184.00 ($53.00 per rentable square foot of Premises
Rentable Area) for each of the Lease Years in the New Term, which
amount includes the Electricity Allowance, as the same may be
adjusted and/or abated pursuant to Sections 7.5 and 12.1.
Base Operating Expenses: Actual Operating Expenses for the
calendar year ending December 31, 1998, which includes $1.00 per
square foot of Building Rentable Area as an allowance toward the
actual cost of supplying electricity supplied to those portions
of the Building leased or intended to be leased to tenants.
Base Taxes: Actual Taxes for the fiscal year ending
June 30, 1999, as the same may be reduced by the amount of any
abatement.
Tenant warrants and represents to Landlord that (i) as of the date hereof, the
Lease is in full force and effect, and to the best of the Tenant's knowledge and
belief Landlord has performed all obligations on its part to be performed
thereunder, and to the best of the Tenant's knowledge and belief no default
on the part of Landlord now exists under the Lease, and (ii) Tenant has dealt
with no broker in connection with the consummation of this Amendment other than
Xxxxxxx & Wakefield Inc., whose fees will be paid by Landlord, and in the event
of any brokerage claims against Landlord predicated upon prior dealings with
Tenant, Tenant agrees to defend the same and indemnify Landlord against any
such claim (except any claim by Xxxxxxx & Xxxxxxxxx Inc.).
Except to the extent specifically amended by this Amendment, the Lease is
hereby ratified and confirmed.
IN WITNESS WHEREOF, Landlord and Tenant have signed and sealed this Amendment
as of the day and year first above written.
LANDLORD:
WFP 00 XXXXX XXXXXX XX. XXXXXXX PARTNERSHIP
By: WFP 00 Xxxxx Xxxxxx Xxxxxxx Xx.
Limited Partnership, a general partner
By: WFP 00 Xxxxx Xxxxxx Xxxxxxx Xx. X.X.
Corp., a general partner
By:
_____________________________
Executive Vice President
TENANT:
FIRST ALBANY COMPANIES INC.
By:
______________________________
Name: Xxxxxxx X. Xxxx
Title: Secretary
By:
___________________________
Name: Xxxxxxx X. Xxxxxx
Title: Chief Financial Officer
