Exhibit 10.16
FIRST AMENDMENT TO LEASE
BY AND BETWEEN:
XXXXXXX X. XXXXX, TRUSTEE
FOR BRANCHBURG PROPERTY
"Landlord"
-and-
LIFECELL Corporation,
a Delaware corporation
"Tenant"
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DATED: September 21, 1999
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LAW OFFICES
EPSTEIN, BROWN, XXXXXXXXX & XXXXX
A Professional Corporation
000 Xxxxx Xxxxxxx Xxxx
X.X. Xxx 000
Xxxxxxx Xxxxxxxx, XX 00000-0000
(000) 000-0000
Fax (000) 000-0000
U:\USERS\IN\MMW\30094.016\1STAMEND.002
September 9, 1999
FIRST AMENDMENT TO LEASE, made the 21st day of September, 1999, by and
between XXXXXXX X. XXXXX, TRUSTEE FOR BRANCHBURG PROPERTY having an office at 00
Xxxxxxxx Xxxxxx, Xxxxxxxxxxx, Xxx Xxxxxx 00000 (hereinafter called the
"Landlord"); and LIFECELL CORPORATION, a Delaware corporation, having an office
at 0000 Xxxxxxxx Xxxxxx Xxxxx, Xxx Xxxxxxxxx, Xxxxx 00000, (hereinafter called
the "Tenant").
W I T N E S S E T H:
WHEREAS, the Landlord and Tenant have entered into a certain Lease
Agreement dated June 17, 1999, hereinafter called the "Lease", in connection
with lands and premises known as Lot 1.01 in Xxxxx 00, Xxxxx 000 and Old York
Road, Branchburg, New Jersey, all as more particularly described on Schedule A
annexed to the Lease (the "Property"); and
WHEREAS, the Landlord has erected an industrial-type building containing
89,960 square feet, outside dimensions, located on the Property (hereinafter
referred to as the "Building"); and
WHEREAS, due to the design requirements of Tenant, it is necessary to
adjust the square footage of the Leased Premises, as set forth in Article 1.1 of
the Lease; and
WHEREAS, Landlord and Tenant desire to further modify the Lease to make
such changes as are required by the establishment of the final square footage of
the Leased Premises.
NOW, THEREFORE, in consideration of the sum of ONE ($1.00) DOLLAR and other
good and valuable consideration, the parties hereto mutually covenant and agree
as follows:
1. Article 1.1 of the Lease is hereby amended so as to provide that
Tenant's leased premises shall consist of 58,296 square feet, in lieu of the
57,939 square feet as in the Lease now provided. Tenant's Percentage, as set
forth in Article 1.1 of the Lease is hereby deemed to be 64.8%.
2. Article 4.1 (a) and (b) of the Lease are hereby modified, as follows:
"(a) During the first (1st) through fifth (5th) years of the lease
term, Tenant shall pay Base Rent in the amount of FIVE HUNDRED THIRTY NINE
THOUSAND TWO HUNDRED THIRTY EIGHT AND 00/100 ($539,238.00) DOLLARS per
annum, payable in equal monthly installments in the sum of FORTY FOUR
THOUSAND NINE HUNDRED THIRTY SIX AND 50/100 ($44,936.50) DOLLARS per month.
(b) During the sixth (6th) through tenth (10th) years of the lease
term, Tenant shall pay Base Rent in the amount of FIVE HUNDRED NINETY FOUR
THOUSAND SIX HUNDRED NINETEEN AND 20/100 ($594,619.20) DOLLARS per annum,
payable in equal monthly installments in the sum of FORTY NINE THOUSAND
FIVE HUNDRED FIFTY ONE AND 60/100 ($49,551.60) DOLLARS per month."
3. Article 3.1 of the Lease is hereby modified to provide that the
Tenant's Allowance shall be in the amount of SEVEN HUNDRED SEVEN THOUSAND FIVE
HUNDRED SIXTY TWO AND 00/100 ($777,562.00) DOLLARS.
4. Article 45.1 of the Lease is hereby deleted in its entirety and the
following article 45.1 is hereby inserted in its place and stead:
"45.1 Provided the Tenant is not in default pursuant to the terms and
conditions of this lease, the Tenant is hereby given the right and privilege to
renew the within lease for two (2) successive five (5) year periods, to commence
at the end of the initial term of this lease, which renewals shall be upon the
same terms and conditions as in this lease contained, except as follows:
(1) During the first five (5) year renewal period, Tenant shall pay
Base Rent in the amount of SIX HUNDRED EIGHTY FOUR THOUSAND NINE HUNDRED SEVENTY
EIGHT AND 00/100 ($684,978.00) DOLLARS per annum, in equal installments in the
sum of FIFTY SEVEN THOUSAND EIGHTY ONE AND 50/100 ($57,081.50) DOLLARS per
month, in the same manner as required by Article 3 hereof; and
5. Except as herein above provided, all other terms and conditions shall
remain in full force and effect, otherwise unmodified and unimpaired.
6. This agreement shall be binding on the parties hereto, their heirs,
successors and assigns.
IN WITNESS WHEREOF, the parties have hereunto set their hands and seals or
caused these presents to be signed by its proper corporate officers and caused
its proper corporate seal to be hereunto affixed, the day and year first above
written.
WITNESS;
/s/ Xxxxxxx Xxxxx
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XXXXXXX X. XXXXX, TRUSTEE FOR
BRANCHBURG PROPERTY
ATTEST:
/s/ Xxxxxxx X. Xxxxx /s/ Xxxxx X. Xxxx
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STATE OF NEW JERSEY )
) SS
COUNTY OF UNION )
BE IT REMEMBERED, that on this 21st day of September, 1999, before me, the
subscriber, a notary public personally appeared XXXXXXX X. WRILL, TRUSTEE FOR
BRANCHBURG PROPERTY, who, I am satisfied, is the Landlord mentioned in the
within Instrument, and thereupon he acknowledged that he signed, sealed and
delivered the same as his act and deed, for the uses and purposes therein
expressed.
/s/ Xxxxx Xxxxxxxx
---------------------------------
Xxxxx Xxxxxxxx
Notary Public of New Jersey
My Commission Expires
March 20,2004
STATE OF TEXAS )
) SS
COUNTY OF XXXXXXXXXX )
BE IT REMEMBERED, that on this 14th day of September, 1999, before me, the
subscriber, XXXXXX X. XXXXX personally appeared XXXXX X. XXXX, who, I am
satisfied, is the person who signed the within Instrument as an officer of
LIFECELL CORPORATION, a Delaware corporation, the Corporation named therein, and
he thereupon acknowledged that the said instrument made by the corporation and
sealed with its corporate seal, was signed and sealed with the corporate seal
and delivered by him as such officer, and is the voluntary act and deed of the
corporation, made by virtue of authority from its Board of Directors.
/s/ Xxxxxx X. Xxxxx
---------------------------------
Xxxxxx X. Xxxxx
Notary Public State of Texas
Expires 02-04-2002
PREPARED BY: XXXXX X. XXXXX, ESQ.
