COMMENCEMENT DATE MEMORANDUM
Exhibit 10.15
COMMENCEMENT DATE MEMORANDUM
THIS MEMORANDUM, made as of October 12, 2012, by and between SILICON VALLEY CA-I, LLC, a Delaware limited liability company (“Landlord”) and CHEGG, INC., a Delaware corporation (“Tenant”).
Recitals:
| A. | Landlord and Tenant are parties to that certain Lease, dated for reference May 10, 2012 (the “Lease”) for certain premises (the “Premises”) consisting of approximately 45,000 square feet at the building located at 0000 Xxxxxxx Xxxxxx, Xxxxx Xxxxx, Xxxxxxxxxx. |
| B. | Tenant is in possession of the Premises and the Term of the Lease has commenced. |
| C. | Landlord and Tenant desire to enter into this Memorandum confirming the Commencement Date, the Termination Date and other matters under the Lease. |
NOW, THEREFORE, Landlord and Tenant agree as follows:
| 1. | The actual Commencement Date is October 19, 2012. |
| 2. | The actual Termination Date is February 28, 2019. |
| 3. | The schedule of the Annual Rent and the Monthly Installment of Rent set forth on the Reference Pages is deleted in its entirety, and the following is substituted therefor: |
| Period | Rentable Square Footage |
Annual Rent Per Square Foot |
Annual Rent |
Monthly Installment of Rent | ||||||||||||||||
| from | through | |||||||||||||||||||
| 10/19/2012 |
7/31/2014 | 45,000 | $ 15.60 | $702,000.00 | $ 58,500.00* | |||||||||||||||
| 8/1/2014 |
7/31/2015 | 45,000 | $ 16.20 | $729,000.00 | $ 60,750.00 | |||||||||||||||
| 8/1/2015 |
7/31/2016 | 45,000 | $ 16.80 | $756,000.00 | $ 63,000.00 | |||||||||||||||
| 8/1/2016 |
7/31/2017 | 45,000 | $ 17.40 | $783,000.00 | $ 65,250.00 | |||||||||||||||
| 8/1/2017 |
7/31/2018 | 45,000 | $ 18.00 | $810,000.00 | $ 67,500.00 | |||||||||||||||
|
8/1/2018 |
2/28/2019 | 45,000 | $ 18.60 | $837,000.00 | $ 69,750.00 | |||||||||||||||
| * | Monthly Installment of Rent for the first nine (9) full calendar months of the initial Term is subject to abatement pursuant to Section 3.3 of the Lease. |
| 4. | Capitalized terms not defined herein shall have the same meaning as set forth in the Lease. |
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date and year first above written.
| LANDLORD: | TENANT: | |||||
| SILICON VALLEY CA-I, LLC, a Delaware limited liability company |
a Delaware corporation | |||||
| By: | SVCA JV LLC, | |||||
| a Delaware limited liability company its Manager |
||||||
| By: | RREEF America REIT III Corp. GG-QRS, | |||||
| a Maryland corporation its Manager |
||||||
| By: | /s/ Xxxxx X. Xxx |
By: | /s/ Xxxx Xxxxx | |||||
| Name: | Xxxxx X. Xxx | Name: | Xxxx Xxxxx | |||||
| Title: | Vice President | Title: | CFO | |||||
| Dated: | 10/18/2012 | Dated: | 10/15/12 |
