CONFIRMATION OF LEASE TERM
Exhibit 10.34
CONFIRMATION OF LEASE TERM
THIS MEMORANDUM made as of the 10th day of August, 2006, between BRANDYWINE OPERATING PARTNERSHIP, a Delaware Limited Partnership, with an office at 000 Xxxxxxxx Xxxx. Xxxxx 000, Xxxxxxxx Xxxxxxx, Xxxxxxxxxxxx 00000 (“Landlord”) and MEDQUIST INC. (“Tenant”), who entered into a lease amendment dated for reference purposes as of March 10, 2006 covering certain premises located at 0000 Xxxxxxx Xxxx Xxxxxxxxx, Xx. Xxxxxx, Xxx Xxxxxx 00000. All capitalized terms, if not defined herein, shall be defined as they are defined in the Lease.
1. The Parties to this Memorandum hereby agree that the date of July 24, 2006 is the “Additional Premises Commencement Date” of the Term, that the date June 30, 2014 is the expiration date of the Lease.
2. Tenant hereby confirms the following:
a. That it has accepted possession of the Additional Premises pursuant to the terms of the Amendment;
b. That the improvements, if any, including the Landlord Work, required to be furnished according to the Amendment by Landlord have been substantially completed in accordance with the terms and conditions of the Amendment;
c. That Landlord has fulfilled all its duties of an inducement nature or as otherwise set forth in the Lease;
d. That there are no offsets or credits against rentals.
e. That there is no default by Landlord or Tenant under the Lease or Amendment and the Lease and Amendment is in full force and effect.
f. The Rentable Square Footage of the Additional Premises is 2,941.
g. Tenant’s Fixed Rent for the Additional Premises (2,941 RSF) is as follows:
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LEASE YEAR |
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PER SF |
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MONTHLY |
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ANNUAL |
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APCD-06/30/07 |
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$ |
23.50 |
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$ |
5,795.46 |
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$ |
69,113.52 |
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7/1/07-6/30/08 |
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$ |
24.00 |
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$ |
5,882.00 |
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$ |
70,584.00 |
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7/1/08-6/30/09 |
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$ |
24.50 |
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$ |
6,004.54 |
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$ |
72,054.48 |
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7/1/09-6/30/10 |
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$ |
25.00 |
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$ |
6,127.08 |
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$ |
73,524.96 |
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7/1/10-6/30/11 |
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$ |
25.50 |
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$ |
6,249.63 |
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$ |
74,995.56 |
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7/1/11-6/30/12 |
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$ |
26.00 |
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$ |
6,372.17 |
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$ |
76,466.04 |
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7/1/12-6/30/13 |
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$ |
26.50 |
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$ |
6,494.71 |
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$ |
77,936.52 |
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7/1/13-6/30/14 |
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$ |
27.00 |
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$ |
6,617.25 |
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$ |
79,407.00 |
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*Plus costs associated with Article 6 and Article 7 of the Original Lease.
h. Tenant’s Allocated Share of the Building is 73.56%.
3. Landlord hereby confirms to Tenant that its Building Number is 292 and its Lease Number is 005342. This information must accompany each Rent check or wire payment.
4. Tenant’s Notice Address is:
Medquist Inc.
0000 Xxxxxxx Xxxx Xxxxxxxxx
Xx. Xxxxxx, XX 00000
Attn: General Counsel
Phone No.: (000) 000-0000
Fax No.: (000) 000-0000
E-mail: xxxxxxxxx@xxxxxxxx.xxx
Tenant’s Billing Address is:
Medquist Inc.
0000 Xxxxxxx Xxxx Xxxxxxxxx
Xx. Xxxxxx, XX 00000
Attn: Real Estate
Phone No.: (000) 000-0000
Fax No.: (000)000-0000
E-mail:
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5. This Memorandum, each and all of the provisions hereof, shall inure to the benefit, or bind, as the case may require, the parties hereto, and their respective successors and assigns, subject to the restrictions upon assignment and subletting contained in the Lease.
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LANDLORD: |
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BRANDYWINE OPERATING PARTNERSHIP, L.P. |
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WITNESS: |
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By: |
Brandywine Realty Trust, its general partner |
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By: |
/s/ Xxxxxx X. Xxxx |
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Xxxxxx X. Xxxx |
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Senior Vice President |
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TENANT: |
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ATTEST: |
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By: |
/s/ Xxxxxxxx Xxxxxxx |
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Xxxxxxxx Xxxxxxx |
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Senior Vice President & Chief Financial Officer |
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