1
EXHIBIT 10.22
AGREEMENT OF SUBLEASE
This Agreement of Sublease (the "Sublease") dated as of the 29 of March, 1996,
is entered into by and between XXXXXX XXXX CURRENCY SERVICES INC., a Delaware
corporation, (the "Sublessor") and FRANKLIN NATIONAL BANK (the "Sublessee").
WHEREAS, by Lease dated May 29, 1992 and subsequent Amendment to Lease, copies
attached as Exhibit A, (the "Head Lease"), the Sublessor leases from THE
PRUDENTIAL INSURANCE COMPANY OF AMERICA (the "Dead Landlord") certain premises
at 0000 X XXXXXX X.X,, 0XX XXXXX, XXXXXXXXXX X.X. 00000 containing 0000 xxxxxx
xxxx xx xxxxx xxxx and designated as suite 929, and more particularly described
in the Head Lease (the "Head Lease Premises").
WHEREAS, Sublessor is willing to Sublease to Sublessee and Sublessee is willing
to Sublease from Sublessor a portion of the Head Lease Premises as more fully
described herein, on the terms and conditions set forth herein.
NOW, THEREFORE, Sublessor and Sublessee agree as follows:
1. PREMISES: Sublessor hereby Subleases to Sublessee and Sublessee hereby
Subleases and takes from Sublessor the Sublease Premises containing
approximately 1821 square feet, as shown by red lines on Exhibit B attached
hereto and made part of hereof (the "Sublease Premises").
2. TERM: The term of this Sublease shall commence on APRIL 15, 1996
(the "Commencement Date") and shall expire on JANUARY 14, 1998 (the
"Termination Date"), unless terminated sooner pursuant to the provisions set
forth herein. THE SUBLESSEE SHALL HAVE ACCESS TO THE PREMISES MARCH 15, 1996
IN ORDER THAT SUBLESSEE MAY COMPLETE ITS RENOVATIONS (THE "FIXTURING PERIOD")
PROVIDED THAT THE SUBLEASE SHALL BE EXECUTED AND ALL APPROVALS SHALL BE
OBTAINED BY THE SUBLESSEE PRIOR TO ANY ACCESS TO THE PREMISES BY THE SUBLESSEE.
3. HEAD LEASE INCORPORATED:
Except as set forth herein, this subletting shall be on the
same terms and conditions as are contained in the Head Lease, to the extent
that such Head Lease terms are appropriate to the Sublease. Further, Sublessee
acknowledges and agrees that this Sublease shall be deemed to confer upon
Sublessee any rights which are in conflict with the Head Lease, as the same may
be altered or amended from time to time. Sublessee shall not do or permit to
be done any act or thing which would contravene the terms of the Head Lease and
the Head Lease shall govern in the event of a conflict with this Sublease. In
the event that the Head Lease is canceled or terminated for any reason, the
term of this Sublease shall automatically terminate simultaneously therewith
4. USE: During the term hereof, Sublessee shall use and occupy the
Sublease Premises for the following purposes: GENERAL OFFICES AS PROVIDED FOR
IN THE HEAD LEASE,
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and for no other purpose.
5. RENT/DEPOSITS/DEFAULT INTEREST/LATE PAYMENTS:
A) Rent/Deposits. As rental for the Sublease Premises,
Sublessee shall pay to sublessor as base rental of $-***SEE PAGE ONE A (the
"Base Rental"), without set-off or deduction, due and payable in advance on the
first day of each month during the term hereof, which Base Rental is in
addition to additional rents as described in Section 6 of this Sublease.
Except for base rent, rental due hereunder shall be subject to adjustment for
any changes made to the rental due under the Head Lease, or for any increase in
Sublessor's costs in providing maintaining or operating the Head Lease
Premises, and Sublessor shall notify Sublessee in writing of any such
adjustment. Any adjustment in rental shall be effective simultaneously with
the increase of Sublessor's costs. In the event this Sublease commences or
terminates on other than the last day of any particular month, all rentals
hereunder shall be prorated.
B) Default. If Sublessee shall default in its payment of any rent
or other amounts or charges required to be paid pursuant to this Sublease, such
unpaid amount shall bear interest from the date of default at the maximum
lawful rate. Sublessor agrees to forward any copies of notices of default by
Sublessor, that it receives.
C) Late Payment. Sublessee acknowledges that the late payment by
Sublessee if any installment of rent or other charges will cause Sublessor to
incur certain costs and expenses not contemplated under this Sublease, the
exact amount of which coasts are difficult or impractical to determine.
Therefore, if any such amount owing is not received by Sublessor within five
(5) days following the due date thereof, Sublessee shall immediately pay to
Sublessor late charge equal to 10% or such amount owing. To the extent that
any late charge provided for hereunder is determined to constitute interest, in
no event shall such late charges, plus any other interest due on sums owed to
sublessor hereunder, ever exceed the maximum rate, then the amount owed to
Sublessor shall automatically be reduced to equal the maximum amount permitted
by law.
6. UTILITIES, SERVICES AND ADDITIONAL COSTS:
Sublessor shall furnish the Sublease Premises with utilities
and services to the extent that they are furnished to Sublessor under the Head
Lease, except that Sublessor assumes no responsibility for interruption of such
services for any reason whatsoever, and Sublessee agrees to pay Sublessor for
any extraordinary electrical, gas or water consumption to the Sublease Premises
at the rate payable by Sublessor for that utility. Sublessor shall invoice
Sublessee separately for such services, which amounts shall be payable in
addition to Base Rental.
Utilities, Services and Additional Costs are described
hereunder:
INCLUDED IN BASE RENT.
7. ACCEPTANCE OF PREMISES:
Sublessee has inspected the Sublease premises and accepts the
Sublease Premises
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PAGE ONE A
RENTS PAYABLE BY SUBLESSEE TO SUBLESSOR:
APRIL 15, 1996 TO JULY 02, 1996 $0.000.00
JULY 03, 1996 TO JULY 14, 1996 $1,365.75
JULY 15, 1996 TO APRIL 14, 1997 $3,490.25 PER MONTH/$41,895 PER
ANNUM/$23 PER SQUARE FOOT OF
RENTABLE AREA
APRIL 15, 1997 TO JANUARY 14, 1998 $3,642.00 PER MONTH/$43,642 PER
ANNUM/$24 PER SQUARE FOOT OF
RENTABLE AREA
SUBLESSEE SHALL DEPOSIT WITH TENANT UPON SUBLESSEE'S EXECUTION OF THE SUBLEASE
PROPOSAL:
COMMITMENT DEPOSIT $3490.25 TO BE APPLIED TO FIRST
MONTHS RENTS DUE UNDER THIS
SUBLEASE
SECURITY DEPOSIT $3490.25 TO BE APPLIED TO LAST
MONTHS RENTS DUE UNDER THIS
SUBLEASE
RENTAL PAYMENTS SHALL BE PAYABLE TO THE SUBLESSOR AT:
XXXXXX XXXX CURRENCY SERVICES INC.
ATTENTION: MARU XXXXXX, OPERATIONS MANAGER
CHEVY CHASE PAVILION
0000 XXXXXXXXX XXXXXX XXX
XXXXX 000
XXXXXXXXXX, XX
00000
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AS-IS and acknowledges that, except as otherwise contained herein, Sublessor
has made no representations as to the condition thereof.
8. REPAIRS AND MAINTENANCE:
The Sublessee, at its sole cost and expense, shall construct
and keep the Sublease Premises in a clean, neat and orderly condition at all
times and shall maintain the Sublease Premises in accordance with the terms of
the Head Lease. Further, Sublessee shall, at its own expense, make all
necessary interior, non-structural repairs to the Sublease premises so as to
maintain the Sublease Premises in good order and condition, reasonable wear and
tear and damage by fire or other casualty excepted. In the event that
Sublessee fails to make any repair within ten (10) days after notice by
Sublessor or Head Landlord that such repair is needed, Sublessor, without
obligation to do so, may make such repairs and Sublessee shall thereafter
promptly reimburse Sublessor of all expenses incurred on account thereof, plus
an administration fee equal to 15% of the cost of all such expenses.
9. TAXES: Sublessee agrees to pay, before they become
delinquent, all taxes (both general and special), assessments or governmental
charges of any kind whatsoever (the "Taxes"), levied or assessed against the
Sublease Premises or any property of Sublessee located thereon or any business
conducted by Sublessee thereon. In the event that Sublessor shall be assessed
for Taxes on the Sublease Premises or any or all of Sublessee's leasehold
improvements, equipment, furniture, fixtures, personal property or Sublessee's
business operations, Sublessee shall pay to Sublessor the amount of the Taxes
within ten (10) days after delivery to Sublessee by Sublessor of a written
statement. On demand by Sublessor, Sublessee shall furnish Sublessor with
satisfactory evidence that the payments required to be made by the Sublessee
hereunder have been made. NOTWITHSTANDING THE CONTENT OF THIS SUBLEASE OR THE
LEASE, REALTY TAXES SHALL BE INCLUDED IN PAYMENT OF BASE RENT.
10. ALTERATIONS: Sublessee may not make any alteration, addition, or
improvement tot he Sublease Premises without the prior written approval of
Sublessor and Head Landlord. Sublessee shall prepare and submit at its costs
such professional drawings as are required by Sublessor and Head Landlord.
Unless Sublessor elects otherwise, all alterations , additions or improvements
to the Sublease Premises shall become the property of Sublessor upon the
expiration or earlier termination of this Sublease. In the event Sublessor so
elects, such alterations, additions or improvements shall be removed by
Sublessee at its own costs and expense, prior to expiration of the term of this
Sublease, and Sublessee shall repair any damage to the Sublease Premises caused
by such removal, all in accordance with the terms and conditions of the Head
Lease.
11. RIGHT OF ENTRY: Sublessor shall have the right to enter the Sublease
Premises for any reasonable purpose, upon prior notice except for emergencies,
including to gain access to and egress from those portions of the Head Lease
Premises or the Building not leased to Sublessee hereunder and to perform such
functions as may be necessary or convenient for the maintenance and operation
thereof. Sublessor shall use reasonable efforts not to interfere with the
business
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of the Sublessee.
12. COMPLIANCE WITH LAW:
Sublessee will comply with all applicable statutes,
ordinances, rules, regulations, orders, and directives or any governmental
authority applicable to the Sublease Premises or to Sublessor's or Sublessee's
use or occupancy thereof and perform, at its own expenses, all obligations
imposed thereby.
13. CASUALTY: In the event that the Sublease Premises or any
portion thereof should be damaged or destroyed by fire, or other casualty,
Sublessor, at its option, may either terminate this Sublease or diligently
proceed to cause the repair of the damage to the Sublease Premises. If
Sublessor elects to repair or rebuild, and if the Sublease Premises are so
damaged that Sublessee is unable to occupy the Sublease premises or a portion
thereof during such repair or reconstruction, then the rental hereunder shall
be appropriately abated until the Sublease Premises can be occupied by
Sublessee. Sublessor shall in no event be required to rebuild, repair, or
replace any improvements, fixtures or personal property of Sublessee.
Notwithstanding the foregoing, in the event the Building or the Sublease
Premises or the Head Lease Premises are damaged or destroyed through negligence
or willful misconduct of Sublessee, its officers, directors, employees, agents,
customers, concessionaires, vendor, contractor or invitees, then Sublessee
shall pay to Sublessor upon demand, the cost of repairing any such damage.
14. RELEASE AND INDEMNITY:
A) Release. Sublessee hereby agrees that Sublessor shall not be
liable for any loss or any damage to any property (including the property of
Sublessee, its officers, directors, employees, agents, customers,
concessionaires, vendors, contractors or invitees) or the death or injury of
any persons (including Sublessee, its officers, directors, employees, agents,
customers, concessionaires, vendors, contractors or invitees) occasioned by
theft, fire, acts of God, public enemy, injunction, riot, strike, insurrection,
war, or any other action of any governmental body or authority, by other
tenants of the Head Lease Premises or the Building or any other matter beyond
the control of Sublessor, or for any injury damages or inconvenience which may
arise through repair or alteration of any part of the Sublease Premises or the
Head Lease Premises or the Building, or failure to make repairs, or for any
cause whatsoever except the negligence or willful misconduct of Sublessor.
B) Indemnity. Sublessee hereby releases and will defend, indemnify,
and hold harmless Sublessor and the Head Landlord, their respective officers,
directors, employees, agents, concessionaires, vendors, and contractors
(the"Indemnified Parties") from and against any and all liability, claims,
penalties, fines, causes of action, suits, liens, losses, loss of use, damages,
costs and expenses of any kind (including legal fees and litigation costs)
which may be suffered by, accrued against, charged to or recoverable from the
Indemnified Parties by reason of 1) any occurrence in, upon, or at the Sublease
Premises, however caused, including without limitation, occurrences caused, in
whole or in part, by the negligence or misconduct or Sublessee, its officers,
directors, employees, agents, customers, concessionaires, vendors, contractors
or
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invitees; or 2) any occupancy, use or misuse or the Sublease Premises or the
service areas parking areas, pedestrian areas, pedestrian walks or driveways in
or around the Sublease Premises, by Sublessee, its officers, directors,
employees, agents, customers, concessionaires, vendors, contractors or
invitees; or 3) any occurrence elsewhere in the Head Lease Premises or the
Building occasioned in whole or in part by the act or omission of Sublessee; or
4) any occurrence occasioned by the violation of any law, regulation or
ordinance by Sublessee or its officers, directors, employees, agents,
customers, concessionaires, vendors, contractors or invitees.
15. INSURANCE: During the term of this Sublease, Sublessee, at its
own cost and expense, shall maintain with insurers acceptable to sublessor and
Head Landlord, all of the coverage's required in the Head Lease.
A) Form and Certificates.
The liability policies shall : 1) name Sublessor and
Head Landlord as additional insured; 2) specifically insure the liability
assumed by Sublessee hereunder; 3) be primary without right of contribution
from any insurance carried by Sublessor or Head Landlord hereunder; and 4)
provide for thirty (30) day written notice to Sublessor and Head Landlord prior
to cancellation and to the extent possible, providing notice of material
change. Certificates evidencing the above coverage's and special endorsements
shall be provided to Sublessor and Head Landlord on or before the date
Sublessee takes possession of the Sublease Premises.
C) Waiver of Subrogation.
Sublessee, on behalf of itself and its insurers,
hereby waives any claim or right of recovery from Sublessor or Head Landlord,
their officers, directors, employees, agents, concessionaires and contractors,
for loss or damage to Sublessee or its property or the property of others under
Sublessee's control, to the extent that such loss is covered by valid insurance
policies. Sublessee shall provide notice of this waiver of subrogation to its
insurers.
16. LIENS: Sublessee hereby agrees to keep the Sublease
Premises, and the improvements thereon, free and clear of mechanics' liens and
other liens for labor, services, equipment or materials. In the event such a
lien is filed or recorded, Sublessee shall take all action required to remove
the same within fifteen (15) days of the filing or recordation. In the event
that Sublessee fails to take such action to remove the lien, then Sublessor may
do so and all costs associated therewith shall be due to Sublessor from
Sublessee upon demand.
17. CONDEMNATION:
A) Total Taking. If during the term of this Sublease or any extension
or renewal thereof, all or a substantial art of the Sublease Premises should be
taken for any public or quasi-public use under any governmental law, ordinance,
or regulation or by right of eminent domain, or should be sold tot he
condemning authority under threat of condemnation, this Sublease shall
terminate and the rent hereunder shall be abated during the unexpired portion
of this Sublease, effective form the date of taking of the Sublease Premises by
the condemning authority.
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B) Partial Taking.
If less than a substantial part of the Sublease
Premises is taken for public or quasi-public use under any governmental law,
ordinance or regulation, or by right of eminent domain, or is sold to the
condemning authority under threat of condemnation, Sublessor, at its option,
may by written notice terminate this Sublease or shall forthwith at its sole
expense restore the Sublease Premises (other than leasehold improvements make
by Sublessee), in order to make the same reasonably tenable and suitable for
the uses for which the Sublease Premises are subleased. The rent payable
hereunder during the unexpired portion of this Sublease shall be adjusted
equitably.
C) Awards. Sublessor and Sublessee shall be entitled to seek and
receive and retain such separate awards and portions of lump sum awards as may
be allocated to their respective interests in any condemnation proceedings.
The termination of this Sublease shall not affect the rights of the respective
parties to such awards.
18. DEFAULTS: The occurance of any of the following shall
constitute a default by Sublessee under this Sublease:
a) Sublessee fails to pay any sum as required hereunder and such
failure continues for five (5) days after due date;
b) Sublessee abandons or vacated the Sublease Premises;
c) Sublessee fails to observe and perform any other provisions of
this Sublease, and such failure continues for thirty (30) days after written
notice thereof by Sublessor;
d) Sublessee: 1) fails to pay its bills when due; or 2) takes any
steps leading to its cessation as a going concern or ceases or suspends
operations for reasons other than a strike or regulatory closing; or 3) becomes
insolvent or makes transfers in fraud of creditors or makes an assignment for
the benefit of creditors; or 4) files a petition for protection under any state
or federal bankruptcy act or a trustee or receiver is appointed for all or
substantially all of Sublessee's assets.
19. REMEDIES UPON DEFAULT:
Upon the occurrence of an event of default hereunder,
Sublessor may take any one or more of the following actions:
a) Maintain this Sublease in full force and effect and recover
any and all rents and other monetary charges as they becomes due, without
terminating Sublessee's right to possession, regardless of whether Sublessee
shall have abandoned the Sublease Premises. If Sublessor elects not to
terminate this Sublease, Sublessor shall have the right to attempt to relet the
Sublease Premises on behalf of Sublessee upon such conditions and for such a
term and to do all acts necessary to maintain or preserves the Sublease
Premises as Sublessor deems reasonable and necessary, including the removal of
all persons and property from the Sublease Premises, without being deemed to
have elected to terminate this Sublease. Any property so removed may be
disposed of or stored in a public warehouse or elsewhere, at Sublessor's
election, at the cost of and for the account of Sublessee. Notwithstanding
that Sublessor fails to
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elect to terminate this Sublease initially, Sublessor at any time thereafter
may elect to terminate this Sublease as a result of such previous and then
existing default of Sublessee.
B) Terminate this Sublease by written notice to Sublessee, in
which event this Sublease shall be ended as to Sublessee and all persons
holding under Sublessee, and all of Sublessee's rights shall be forfeited and
lapsed, as fully as if this Sublease had expired by lapse of time. In such
event, Sublessee shall be required to vacate the Sublease Premises immediately
and surrender same to Sublessor. If Sublessee fails to surrender the Sublease
Premises immediately to Sublessor, Sublessor, without prejudice to any other
remedy, may enter upon and take possession of the Sublease Premises or any part
thereof, without being liable for prosecution or any other claims of damages.
In the event of termination in accordance with this provision, the rental or
any other sums payable by Sublessee pursuant to this Sublease that have accrued
hereunder but are unpaid shall be immediately due and payable by Sublessee to
Sublessor. In addition, Sublessee agrees to pay Sublessor upon demand the
amount of all loss and damages which Sublessor may suffer by reason of such
termination, whether through inability to relet the Sublease Premises on
satisfactory terms or otherwise, including, without limitation,: 1) all
expenses incurred by Sublessor, including court costs and attorney's fees, in
recovering possession of the Sublease Premises or enforcing Sublessor's rights
under this Sublease; 2) all costs and charges for care of the Sublease Premises
to a good condition; 3) all reasonable costs associated with Sublessor's
efforts to relet the Sublease Premises; and 4) the difference between the total
rental that would have accrued to Sublessor under the Sublease for the
remainder of the term had the Sublease not been terminated and the rentals
received as the result of the Sublease Premises being relet. The failure of
Sublessor to relet the Sublease Premises or any part of parts thereof shall not
release or effect Sublessee's liability for damages hereunder;
c) Cure the default on the behalf of the Sublessee, in which
event the Sublessee shall, upon demand by Sublessor, pay all sums expended by
Sublessor in accomplishing such cure;
d) Exercise any right available to Sublessor in law or in equity.
20. CUMULATIVE RIGHTS:
Sublessor's rights and remedies hereunder shall be cumulative
and shall not be exclusive of one another, and Sublessor shall have the right
to pursue any one or more of them Sublessor's acceptance of any rent or other
payments due hereunder or Sublessor's failure to take any action on account of
any rent or other payments due hereunder or Sublessor's failure to take any
action on account of a default if such default persists or is repeated, shall
not be deemed a waiver of any default. Sublessor's consent to any act by
Sublessee requiring Sublessor's consent or approval shall not be deemed to
waive or render unnecessary Sublessor's consent or approval to any subsequent
or similar acts by Sublessee.
21. SURRENDER OR PREMISES/HOLDING OVER:
At the expiration or earlier termination of this Sublease,
Sublessee shall
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surrender the Sublease Premises to Sublessor in good condition, broom clean,
reasonable wear and tear, damage by fire or other casualty excepted. Should
Sublessee remain in possession of the Sublease Premises, or any portion
thereof, after the termination of this Sublease (whether by expiration of the
term of this Sublease or otherwise), without execution of a new Sublease,
Sublessee shall become a tenant from month to month and shall be liable to pay
monthly rental at double the rate provided hereunder. Such tenancy shall be
subject to all terms and conditions of this Sublease.
22. ASSIGNMENT AND SUBLEASE:
Sublessee shall not assign this Sublease or any right
hereunder or sublet the Sublease Premises during the term of this Sublease,
without the prior written consent of Sublessor, provided however that, subject
to the rights of the Head Landlord and the terms of the Head Lease, Sublessor's
consent shall not be unreasonably withheld. Sublessor's acceptance of rent
from any person other than Sublessee shall not be deemed to be a waiver of this
provision. Consent to one assignment or subletting shall not be deemed to be
consent to any subsequent assignment or subletting.
23. ACCORD AND SATISFACTION:
No payment or receipt by Sublessor of a lesser amount than the
rent or other charges herein stipulated shall be deemed to be other than on
account of the rent or such charges. Further, no endorsement or statement on
any check or any letter accompanying any check or payment without prejudice to
Sublessor's right to recover the balance of such rent or other charges or
pursue any other remedy provided in this Sublease.
24. FORCE MAJEURE: Neither party shall be deemed to be in breach of this
Sublease by reason of a failure to perform any of its obligations hereunder tot
he extent that such failure is caused by strike or labor troubles,
unavailability of materials or utilities, riots, rebellion, insurrection,
invasion, war, action or interference of governmental authorities, acts of God,
or any other cause whether similar or dissimilar to the foregoing which is
reasonable beyond the control of the parties; provided, however, this clause
shall not apply to Sublessee's obligation to pay rent or other sums due
hereunder, such obligation being absolute and unconditional.
25. ATTORNEY'S FEES: In the event that Sublessee defaults in the
performance of any of the terms, conditions or agreements contained IN THE
Sublease and Sublessor places the enforcement of all or part of this Sublease
in the hands of an attorney for enforcement, including the filing of a suit
upon the same, Sublessee agrees to pay all of Sublessor's reasonable attorney's
fees and costs.
26. GOVERNING LAW: THIS SUBLEASE SHALL BE GOVERNED BY AND CONSTRUED UNDER
THE LAWS OF THE STATES IN WHICH THE DEMISED PREMISES IS LOCATED.
27. ENTIRE AGREEMENT:
This Sublease constitutes the complete agreement between the
parties with respect
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to the subject matter hereof and supersedes all previous agreements,
representation and understandings concerning the same, whether written or oral.
The provisions of the Sublease may be modified, amended or waived only by
written instrument, executed by Sublessor and Sublessee.
28. WAIVER: A waiver by either party to this Sublease of any
breach of the covenants, conditions or agreements contained herein shall not be
construed as a waiver of any succeeding breach of the same or other covenants,
conditions or agreements.
29. SEVERABILITY: If any provision or term of this Sublease shall be
determined to be illegal, invalid or unenforceable, the remainder of this
Sublease shall not be affected and shall remain valid and enforceable to the
fullest extent permitted by law.
30. APPROVAL BY LANDLORD:
This Sublease is conditional upon written consent being
obtained from the Landlord. In the event the Landlord does not give its
consent, either or the undersigned parties may, at its option, rescind its
signature and this Sublease shall thereafter be of no force or effect.
31. NOTICES:
To the Sublessor:
Xxxxxx Xxxx Currency Services Inc.
Attention: X.Xxxx
Vice President and General Manager
Chevy Chase Pavilion
0000 Xxxxxxxxx Xxxxxx XX
Xxxxx 000
Xxxxxxxxxx, XX 00000
with a copy to:
Xxxxxx Xxxx Group (Canada) Limited
Facilities Department
000 Xxxxx Xxxxxx, 00xx xxxxx
Xxxxxxx, Xxxxxxx
X0X 0X0
To the Sublessee:
XXX. XXXXX X. XXXXXXX
SENIOR VICE PRESIDENT
FRANKLIN NATIONAL BANK
0000 XXX XXXXXX, XX
XXXXXXXXXX, XX 00000
Either party from time to time, may change its address by written notice to the
other party.
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Notices hereunder shall be deemed effective when delivered by hand delivery or
overnight courier, or three days after deposit in the United States mail or
Canada Post, first class, postage prepaid.
32. QUIET ENJOYMENT:
Upon Sublessee's payment of all sums due hereunder and
provided that Sublessee is not otherwise in default hereunder, Sublessee shall
peaceably and quietly hold, occupy and enjoy the Sublease Premises for the term
of this sublease without hindrance, ejection or interruption by Sublessor, or
persons lawfully claiming through Sublessor.
33. BINDING EFFECT: Subject to prohibitions against assignment, this
Sublease shall be binding upon the parties, their personal representative,
successors and assigns.
WITNESS the signatures of the parties as of the date first written above.
SUBLESSOR
XXXXXX XXXX CURRENCY SERVICES INC.:
BY: XXXXXXX X. XXXX
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NAME: XXXXXXX X. XXXX
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TITLE: VICE PRESIDENT
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I/WE HAVE THE AUTHORITY TO BIND THE CORPORATION
SUBLESSEE
BY: XXXXXX X. XXXXXX
-------------------------------------------------------------------
NAME: XXXXXX X. XXXXXX
-------------------------------------------------------------------
TITLE: PRESIDENT & CEO
-------------------------------------------------------------------
I/WE HAVE THE AUTHORITY TO BIND THE CORPORATION
LANDLORD
BY:
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NAME:
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TITLE:
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