SECOND AMENDMENT TO SUB-LEASE AGREEMENT
Exhibit 10.31.7
SECOND AMENDMENT TO SUB-LEASE AGREEMENT
THIS SECOND AMENDMENT TO SUB-LEASE AGREEMENT made this 10th day of July, 2014 between:
HELLER, ALPER, ROBERTS, XXXX – EDISON, L.L.C., a New Jersey limited liability company (successor-in-interest to HELLER, ALPER, ROBERTS, XXXX – EDISON, a New Jersey general partnership), having an office at 000 Xxxx Xxxx, Xxxxxx, Xxx Xxxxxx 00000, hereinafter referred to as:
“LANDLORD”
and
JOSHEN PAPER & PACKAGING CO., an Ohio corporation, having an office at 0000 Xxxxx Xxxxxx, Xxxxxxxx Xxxxxxx, Xxxx 00000, hereinafter referred to as:
“SUB-LANDLORD”
and
PHARMEDIUM SERVICES, LLC, having an office at Two Xxxxxx Park, 000 Xxxxxxxxxx Xxxxx, Xxxxx 000, Xxxx Xxxxxx, Xxxxxxxx 00000, hereinafter referred to as:
“SUB-TENANT”
W I T N E S S E T H:
WHEREAS, the parties hereto entered into a certain Agreement of Sub-Lease dated June 24, 2009 and First Amendment to Sub-Lease dated October 28, 2009 (collectively, “Sub-Lease”) leasing a Sub-Leased Premises which currently consists of a 14,600 square foot building, and additional land, located in the Township of Edison, County of Middlesex, State of New Jersey, said Sub-Leased Premises more particularly shown, identified and described in said Sub-Lease; and
WHEREAS, pursuant to the provisions of the Sub-Lease, the Term of the Sub-Lease is currently due to expire on June 30, 2014; and
WHEREAS, the parties hereto wish to extend the Term of this Sub-Lease under the terms and conditions set forth in this Second Amendment to Sub-Lease.
NOW THEREFORE, in consideration of the terms and conditions contained herein together with other good and valuable consideration, the parties hereto agree as follows:
1. All capitalized terms used in this Second Amendment to Sub-Lease, not otherwise defined herein, shall have the meaning set forth in the Sub-Lease.
2. Paragraph 2 of the Sub-Lease is hereby deleted in its entirety and replaced with the following:
“Sub-Tenant may extend the Sub-Lease Term for one (1) renewal period of three (3) years and one (1) month, commencing July 1, 2012 and continuing through July 31, 2015 (the “Renewal Period”), by written notice (the “Renewal Notice”) to the Sub-Landlord at least six (6) months prior to the expiration of the initial three (3) years of the Sub-Lease Term, provided that all of the following conditions have been satisfied: Sub-Tenant shall not be in default hereunder at the time Sub-Landlord has received the Renewal Notice or at the time the Renewal Period is to commence.”
3. Notwithstanding anything in the Sub-Lease to the contrary, effective July 1, 2014, rent for the Sub-Leased Premises of 14,600 square feet during the Renewal Period shall be increased from $9,953.83 per month to $10,202.68 per month.
4. Effective July 1, 2014, Paragraph 5 of the Sub-Lease is hereby further amended by deleting “annual Base Rent” and the number “$119,446.00” and replacing same with “Thirteen (13) Month Base Rent and the number “$132,634.84”.
5. By their signatures below, Landlord, Sub-Landlord and Sub-Tenant hereby acknowledge and reaffirm that Sub-Tenant has exercised its right of renewal for the Renewal Period commencing July 1, 2012 and continuing through July 31, 2015 under the terms and conditions set forth in the Sub-Lease and in this Second Amendment to Sub-Lease.
6. This Second Amendment to Sub-Lease may be executed in any number of counterparts, each of which shall be deemed to be original, and all of which together shall constitute one and the same instrument.
7. Except as modified herein, all of the terms and conditions of said Sub-Lease, as amended, shall remain in full force and effect throughout the Term of this Sub-Lease and any extensions thereof.
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8. Submission of this Second Amendment to Sub-Lease Agreement for examination or signature of Landlord, Sub-Landlord and Sub-Tenant does not constitute an offer, reservation of or option under the Sub-Lease; and this Second Amendment to Sub-Lease Agreement will not be effective or binding upon the parties until execution and delivery by Landlord, Sub-Landlord, and Sub-Tenant.
IN WITNESS WHEREOF, the parties hereunto set their hands and seals or caused these premises to be duly executed by their proper corporate officers the day and year first written above.
| WITNESS: | XXXXXX, ALPER, ROBERTS, XXXX – EDISON, L.L.C., LANDLORD By: XXXXXX INDUSTRIAL PARKS, INC., Manager | |||
| /s/ Xxxxxxxx X. Xxxxxxx |
By: | /s/ Xxxxx Xxxxxxxxxxx | ||
| Xxxxxxxx X. Xxxxxxx | Xxxxx Xxxxxxxxxxx, President | |||
| ATTEST: | JOSHEN PAPER & PACKAGING CO., SUB-LANDLORD | |||
| /s/ Xxxx X. Xxxxxxxxxxx |
By: | /s/ Xxx Xxxxxxxxxx | ||
| Xxxx X. Xxxxxxxxxxx | Xxx Xxxxxxxxxx | |||
| ATTEST: | PHARMEDIUM SERVICES, LLC, SUB-TENANT | |||
| /s/ Xxxxxxxx Xxxxxxxxx |
By: | /s/ Xxxxxx Xxxxxxxxx | ||
| Xxxxxxxx Xxxxxxxxx, Paralegal | Xxxxxx Xxxxxxxxx, VP Supply Chain & Field Ops | |||
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