LEASE AMENDING AGREEMENT
Exhibit
10.33
THIS AGREEMENT made as of the
9th
day of March, 0000,
X
X X X X X X:
(the
“Tenant”)
A
N D:
2600
SKYMARK INVESTMENTS INC.
(the
“Landlord”)
WHEREAS pursuant to a lease
dated the 17th day of
October, 2005 (the “Lease”), as supplemented by a Rent Deposit Agreement dated
October 17, 2005 (the “Rent Deposit Agreement”), the Landlord, by its
predecessor Penyork Properties III Inc., as landlord, leased to the Tenant
certain premises containing a Rentable Area of approximately 6,600 square feet
as set out in the Lease, being composed of part of the ground floor of Building
9, known as Suite 103, and part of the second floor of Building 9, known as
Suite 201, of the Project municipally designated as 0000 Xxxxxxx Xxxxxx,
Xxxxxxxxxxx, Xxxxxxx (the Project and Building as more particularly described in
the Lease) for a term now expiring July 31, 2007 at the rents and upon the terms
and conditions contained in the Lease;
AND WHEREAS 2600 Skymark
Investments Inc. is successor in interest and title as owner and landlord of the
Project and Building;
AND WHEREAS the Landlord and
the Tenant have agreed to extend the Term of the Lease and to certain other
amendments to the Lease and to execute this Agreement to give effect
thereto;
NOW THEREFORE THIS AGREEMENT
WITNESSES that in consideration of the mutual convenants contained herein
and the sum of TWO ($2.00) DOLLARS now paid by each party to the other and other
good and valuable consideration (the receipt and sufficiency of which is hereby
acknowledged), the parties hereby covenant and agree as follows:
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1.
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The
above recitals are true in substance and in
fact.
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2.
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The
Lease shall be and is hereby amended as
follows:
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(a)
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Section
1(b) Term is extended for a further Three (3) years from August 1, 2007 to
July 31, 2010;
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(b)
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Section
1(d) Expiry Date is extended to July 31,
2010;
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(c)
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Section
1(e) Basic Rent shall be amended by adding the
following:
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Rental
Period
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Annual
Basic Rent
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Monthly
Basic Rent
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Annual
Rate per square foot of Rentable Area
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August
1, 2007 to July 31, 2010
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$79,200.00
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$6,600.00
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$12.00
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(e)
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The
Landlord’s address for service in Section 1(i) shall be deleted and
replaced with the following:
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2600
Skymark Investments Inc.
Xxxxx
000
0 Xx.
Xxxxx Xxxxxx Xxxx
Xxxxxxx,
Xxxxxxx, X0X 0X0
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(d)
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The
Tenant shall have no right or option to extend or renew the Lease or the
term of the Lease.
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(e)
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The
Tenant accepts the Premises in their current “as is” condition and the
Landlord shall not provide any Landlord’s Work. There shall be
no rental credit, rent free period, tenant allowance, Landlord’s Work,
Fixturing Period, leasehold improvements or other tenant inducement
whatsoever provided by the
Landlord.
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(f)
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The
Tenant’s right of first offer to lease the ROFO Space is hereby terminated
and Sections 4 and 5 of Schedule D to the Lease are hereby deleted from
the Lease.
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(g)
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Section
5.5 of the Lease is hereby amended by deleting the word “audited” from the
ninth line thereof, so that the statement of Operating Costs and Realty
Taxes for the Project to be provided annually by the Landlord to the
Tenant shall not be required to be in audited
form.
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3.
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The
Landlord and the Tenant hereby acknowledge, confirm and agree that in all
other respects the terms of the Lease and the Rent Deposit Agreement are
to remain in full force and effect, unchanged and unmodified except in
accordance with this Agreement.
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4.
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Except
as specifically stated in this Agreement, any expression used in this
Agreement has the same meaning as the corresponding expression in the
Lease.
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5.
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This
Agreement shall enure to the benefit of and be binding upon the parties
hereto and their respective permitted successors and permitted
assigns.
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6.
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This
Agreement may be executed by the parties hereto in separate counterparts,
each of which so executed shall be deemed to be an
original. Such counterparts together shall constitute one and
the same instrument and, notwithstanding the date of execution, shall be
deemed to bear the effective date set forth
above.
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IN WITNESS WHEREOF each of the
parties hereto have executed this Agreement as of the date first written
above.
Tenant:
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Per:
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“TomReeves”
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Name:
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Xxx
Xxxxxx
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Title:
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President
& COO
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Per:
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“Xxxxxxx
Dumencu”
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Name:
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Xxxxxxx
Dumencu
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Title:
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CFO
& Treasurer
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I/We
have authority to bind the Corporation
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Landlord:
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2600
SKYMARK INVESTMENTS INC.
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Per:
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“Xxxxxxx Xxxxxxx”
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Name:
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Xxxxxxx
Xxxxxxx
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Title:
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President
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I
have authority to bind the Corporation
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