FIRST AMENDMENT TO INDUSTRIAL BUILDING LEASE
Exhibit 10.6
FIRST AMENDMENT TO INDUSTRIAL BUILDING LEASE
THIS FIRST AMENDMENT TO INDUSTRIAL BUILDING LEASE (this “Amendment”) is made as of the day of April, 2010 by and between INTERNATIONAL REALTY HOLDINGS, LLC, a Delaware limited liability company, successor-in-interest to Southcorp Packaging USA, lnc. (“Landlord”), and BWAY CORPORATION, a Delaware limited liability company, successor-in-interest to North America Packaging Corporation (“Tenant”).
BACKGROUND:
A. Landlord and Tenant are parties to that certain Industrial Building Lease dated June 28, 2001 (the “Lease”), for improved real property located at 0000 Xxxxxxxx Xxxxx, Xxxxxxxxxx, Xxxxxxx, as more fully described in the Lease.
B. Landlord and Tenant desire to amend certain terms of the Lease as set forth herein.
C. Capitalized terms used but not otherwise defined herein shall have the meanings given in the Lease, as applicable.
NOW, THEREFORE, the parties hereto, in consideration of the mutual promises and covenants contained herein and in the Lease, and intending to be legally bound hereby, agree that the Lease is amended as follows:
1. Term. The Initial Term of the Lease is hereby extended for ten (10) years terminating on February 28, 2021.
2. Rent. Effective as of March 1, 2011, the Base Rent payable under the Lease shall be:
| Period |
Annual Base Rent |
Monthly Base Rent | ||
| 3/1/11 – 2/28/12 |
$391,432.00 | $32,619.33 | ||
| 3/1/12 – 2/28/13 |
$397,303.48 | $33,108.62 | ||
| 3/1/13 – 2/28/14 |
$403,263.03 | $33,605.25 | ||
| 3/1/14 – 2/28/15 |
$409,311.98 | $34,109.33 | ||
| 3/1/15 – 2/28/16 |
$415,451.66 | $34,620.97 | ||
| 3/1/16 – 2/28/17 |
$421,683.43 | $35,140.29 | ||
| 3/1/17 – 2/28/18 |
$428,008.68 | $35,667.39 | ||
| 3/1/18 – 2/28/19 |
$434,428.81 | $36,202.40 | ||
| 3/1/19 – 2/28/20 |
$440,945.25 | $36,745.44 | ||
| 3/1/20 – 2/28/21 |
$447,559.42 | $37,296.62 |
3. Notices. Landlord’s and Tenant’s notice addresses in Section 1.1(I) of the Lease are hereby deleted and replaced with the following:
Landlord’s Mailing Address:
International Realty Holdings, LLC
000 Xxxxx Xxxxxx Xxxxxx
Xxxxxxxx, Xxx Xxxx 00000-0000
Attention: Xx. Xxxx Xxxxxxxxxx
Facsimile: (000) 000-0000
Tenant’s Mailing Address:
BWAY Corporation
0000 Xxxxxxx Xxxxx
Xxxxx 000
Xxxxxxx, Xxxxxxx 00000
Attention: Chief Administrative Officer
Facsimile: (000) 000-0000
4. Ratification. Except as expressly modified herein, the terms and conditions of the Lease shall remain unchanged and in full force and effect.
5. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be an original and all of which together shall constitute but one and the same instrument, and facsimile signatures shall be deemed to be original signatures and of the same force and effect.
6. Brokerage. Landlord shall pay the commission due Xxxxxxx & Xxxxxxxxx of Georgia, Inc. (“Broker”) in accordance with that separate agreement between Landlord and Broker. Subject to the foregoing, Landlord represents and warrants, that it has not engaged any other broker, finder or any other person who would be entitled to any commission or fee in respect of the execution of this Amendment and any other transaction contemplated by this Amendment; and agrees to indemnify and hold harmless Tenant against and in respect to any and all losses, liabilities or expenses which may be incurred by Tenant as a result of any claim which may be asserted by any such broker (including Broker), finder or other person on the basis of any arrangements or agreements made or alleged to have been made on behalf of Landlord. Tenant represents and warrants, that except for the Broker, it has not engaged any broker, finder or any other person who would be entitled to any commission or fee in respect of the execution of this Amendment and any other transaction contemplated by this Amendment; and agrees to indemnify and hold harmless Landlord against and in respect of any and all losses, liabilities or expenses which may be incurred by Landlord as a result of any claim which may be asserted by any such broker, finder or other person on the basis of any arrangements or agreements made or alleged to have been made on behalf of Tenant, other than the Broker.
[Signatures appear on the following page.]
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IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the day and year first above written.
| LANDLORD: | ||||||||
| Signed, sealed and | INTERNATIONAL REALTY HOLDINGS, LLC, a | |||||||
| delivered in the | Delaware limited liability company | |||||||
| presence of: | ||||||||
| By: | IRH Manager Corp., a Delaware corporation | |||||||
| /s/ Desilu Xxxxxxxx Xxxxxxx |
By: | /s/ Xxxx Xxxxxxxxxx | ||||||
| Notary Public | Xxxx Xxxxxxxxxx, President | |||||||
| My Commission Expires: | ||||||||
| DESILU XXXXXXXX XXXXXXX | ||||||||
| NOTARY PUBLIC | ||||||||
| STATE OF NEW YORK | ||||||||
| KINGS COUNTY | ||||||||
| My commission:#01SM6201906 | ||||||||
| EXPIRES: 03/09/2013 |
||||||||
| (NOTARIAL SEAL) | ||||||||
| TENANT: | ||||||||
| Signed, sealed and | BWAY CORPORATION, a Delaware corporation | |||||||
| delivered in the presence of |
||||||||
| /s/ Xxxx X.Xxxxxxx |
By : | /s/ Xxxxx X. Xxxx | ||||||
| Notary Public | Xxxxx X. Xxxx, Chief Administrative Officer | |||||||
| My Commission Expires: | and Senior Vice President | |||||||
| Xxxx X.Xxxxxxx | ||||||||
| Notary Public, Xxxxxx County, Georgia | ||||||||
| My Commission Expires: October 25, 2011 |
||||||||
| (NOTARIAL SEAL) | ||||||||
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