NINTH AMENDMENT TO LEASE
Exhibit 10.01
NINTH AMENDMENT TO LEASE
THIS NINTH AMENDMENT TO LEASE (“Agreement”) dated this 9th day of December, 2013 (the “Effective Date”), is made and entered into by and between XXXXXX STREET INVESTORS II, LLC, a Delaware limited liability company (“Landlord”) and LEAPFROG ENTERPRISES, INC., a Delaware corporation (“Tenant”).
BACKGROUND
A. Landlord and Tenant entered into that certain Lease Agreement dated November 14, 2000, for approximately 40,060 rentable square feet of space (the “Premises”) located at 0000 Xxxxxx Xxxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxxxxx, as more fully described in the Lease.
B. The Lease has been amended by a First Amendment to Lease dated April 30, 2001.
C. The Lease has been amended by a Second Amendment to Lease dated February 22, 2002, whereby the Premises were expanded by an additional 30,770 rentable square feet and Tenant’s Pro Rata Share was increased to Fifty-One and Sixty-Two Hundredths Percent (51.62%).
D. The Lease has been amended by a Third Amendment to Lease dated March 27, 2003, whereby the Premises were expanded by an additional 31,980 rentable square feet and Tenant’s Pro Rata Share was increased to Seventy-Four and Ninety-Three Hundredths Percent (74.93%).
E. The Lease has been amended by a Fourth Amendment to Lease dated March 27, 2003.
F. The Lease has been amended by a Fifth Amendment to Lease dated March 7, 2005, whereby the Lease Term was extended until March 31, 2016.
G. The Lease has been amended by a Sixth Amendment to Lease dated March 22, 2006, whereby the size of the Premises was increased by an additional 34,393 rental square feet known as Suite 125.
H. The Lease has been amended by a Seventh Amendment to Lease dated December 6, 2010, whereby the Lease was terminated as to Suite 175 consisting of 30,770 rental square feet.
I. The Lease has been amended by the Eighth Amendment to Lease dated June 2, 2011, whereby Landlord granted Tenant use of “Rooftop Equipment” (as defined therein).
J. The Lease Agreement, as amended from time to time, is referred to as the “Lease”.
K. The Premises currently contain 106,433 rentable square feet.
L. The current term of the Lease expires on March 31, 2016.
M. Tenant desires to lease Suite 160 in the building known as building B, located at 0000 00xx Xxxxxx, Xxxxxxxxxx, Xxxxxxxxxx (“Building B”) on a temporary basis.
N. Landlord and Tenant desire to amend the terms and conditions of the Lease as set forth in this Agreement.
O. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Lease.
AGREEMENT
NOW, THEREFORE, in consideration of the covenants and agreements contained herein, the parties hereby mutually agree as follows:
1. TEMPORARY PREMISES. From and after the Effective Date of this Agreement until January 31, 2015 (“Temporary Premises Term”), Tenant shall be allowed to occupy Suite 160 in Building B (the “Temporary Premises”). The Temporary Premises consist of approximately 3,129 rentable square feet. During the Temporary Premises Term, the term “Common Areas,” as defined in the Lease, shall include the common areas in Building B.
2. TEMPORARY PREMISES BASE RENT. The Base Rent for the Temporary Premises shall be Two and 50/100 Dollars ($2.50) per rentable square foot per month, full service, for a total of Seven Thousand Eight Hundred Twenty-two and 50/100 Dollars ($7,822.50) per month, fully serviced, payable in advance on the first day of each month during the Temporary Premises Term.
3. RENT CREDIT. Landlord shall provide Tenant with a rent credit in the amount of One Thousand Two Hundred Fifty and No/100 Dollars ($1,250.00) to be applied to the first month’s Base Rent.
4. CONDITION OF TEMPORARY PREMISES. Tenant shall accept the Temporary Premises in its current ‘as is’ condition and acknowledges that Tenant is not relying on any representations or warranties by Landlord, its agents or any other persons regarding the Premises or Building B.
5. AUTHORITY. Tenant represents and warrants that all necessary corporate actions have been duly taken to permit Tenant to enter into this Agreement and that the person signing this Agreement on behalf of Tenant has been duly authorized and instructed to execute this Agreement. Landlord represents and warrants that all necessary company actions have been duly taken to permit Landlord to enter into this Agreement and that the person signing this Agreement on behalf of Landlord has been duly authorized and instructed to sign this Agreement.
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6. BROKERS. Each of Landlord and Tenant warrants and represents that it has dealt with no real estate broker in connection with this Agreement and that no broker is entitled to any commission on account of this Agreement. The party who breaches this warranty shall defend, hold harmless and indemnify the other from any loss, cost, damage or expense, including reasonable attorneys’ fees, arising from the breach; Landlord’s indemnity of Tenant shall include claims by the Broker. Landlord is solely responsible for paying the commission of the Broker in accordance with a separate agreement.
7. FULL FORCE AND EFFECT. Except as expressly modified above, all terms and conditions of the Lease remain in full force and effect and are hereby ratified and confirmed. Landlord and Tenant hereby acknowledge and agree that, except as provided in this Agreement, the Lease has not been modified, amended, canceled, terminated, released, superseded or otherwise rendered of no force or effect.
[Signatures follow on next page.]
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Designated Address for Landlord:
Xxxxxx Street Investors II LLC c/o Bentall Xxxxxxx (U.S.) Limited Partnership Attn: Dir. of Asset Management 0000 Xxxxxx Xxxxxx, Xxxxx 0000 Xxxxxxx, XX 00000 Facsimile: 000-000-0000
and to:
Xxxxxx Street Investors II LLC c/o Bentall Xxxxxxx (U.S.) Limited Partnership Attn: Dir. of Asset Management 0000 Xxxxxxxxx Xxx., Xxx. 000 Xxxx Xxxxxxxx, XX 00000 Facsimile: 000-000-0000
and to:
MEPT Edgemoor REIT, LLC c/o NewTower Trust Company Attn: President/MEPT or Xxxxxxx X. Xxxxxxxx 0 Xxxxxxxx Xxxxx Xxxxxx, Xxxxx 0000 Xxxxxxxx, XX 00000 Facsimile: 000-000-0000
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LANDLORD:
Xxxxxx Street Investors II LLC, a Delaware limited liability company
By: Xxxxxx Street Investors, L.L.C, a Delaware limited liability company, its Sole Member
By: MEPT Xxxxxx Street LLC, a Delaware limited liability company, its Manager
By: MEPT Edgemoor REIT LLC, a Delaware limited liability company, its Manager
By: Bentall Xxxxxxx (U.S.) Limited Partnership, its Authorized Signatory
By: Bentall Xxxxxxx (U.S.) G.P. LLC, its General Partner
By: /s/ Xxxx X. Xxxxxxxx Name: Xxxx X. Xxxxxxxx Its: Senior Vice President
By: /s/ Xxxxx Xxxxxxxx Name: Xxxxx X. Xxxxxxxx Its: Senior Vice President
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Designated Address for Tenant:
Leapfrog Enterprises, Inc. Attn: Director of Real Estate and Facilities 0000 Xxxxxx Xxxxxx Xxxxxxxxxx, XX 00000
With a copy to:
Leapfrog Enterprises, Inc. Attn: General Counsel 0000 Xxxxxx Xxxxxx Xxxxxxxxxx, XX 00000 |
TENANT:
Leapfrog Enterprises, Inc., a Delaware corporation
By: /s/ Xxxxxxx X. Xxxxxx Name: Xxxxxxx X. Xxxxxx Its: CFO
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