THIRD LEASE AMENDMENT
EXHIBIT
10.107
THIRD
LEASE AMENDMENT
This
THIRD LEASE AMENDMENT
(this “Amendment”) is made as of the 31st day of
December 2007, by and between BOI I, L.L.C., a New Jersey
limited liability company, having an address c/o Advance Realty Group, 0000
Xxxxx 000, Xxxxx 000, Xxxxxxxxxx, Xxx Xxxxxx 00000 (“Landlord”), and PERFORMANCE HEALTH TECHNOLOGIES,
INC., a Delaware corporation, having an office at 000 Xxxxxxxxx Xxxxx,
Xxxxxxx, Xxx Xxxxxx 00000 (“Tenant”).
RECITALS:
A. The
Xxxxx Company (“Xxxxx”), as Rent Receiver for River View Executive Park, Inc.,
on behalf of Colony NYRO Partners, L.P., and Tecker Consultants, LLC (“Tecker”)
entered into a lease dated as of October 31, 1994 (the “Original “Lease”), which
Original Lease was modified by a First Amendment to Lease dated as of November
24, 1999, and a Second Amendment to Lease dated as of January 13, 2003
(collectively the “Lease”), for approximately 1,909 square feet of space (the
“Premises”) on the second floor of the building located at 000 Xxxxxxxxx
Xxxxxxxxx Xxxx, Xxxxxxx, Xxx Xxxxxx (the “Building”).
B. Landlord
is the successor in interest to Xxxxx.
C. Pursuant
to an Assignment and Assumption of Lease dated as of August 31, 2006, Tenant
assumed all of the rights and obligations of Tecker under the
Lease.
D. Landlord
and Tenant desire to amend the Lease to extend the Lease Term, subject to the
terms, covenants and conditions set forth below.
NOW,
THEREFORE, in consideration of the sum of One Dollar ($1.00) and other good and
valuable consideration, the parties hereto mutually covenant and agree as
follows:
1. All
capitalized terms not defined herein shall have the meaning given such terms in
the Lease.
2. The
Lease Term is hereby extended to December 31, 2012. Notwithstanding anything in
the Lease to the contrary, Tenant shall have no right to extend the Lease Term
beyond December 31, 2012 without the written consent of Landlord.
3. Each
party herein covenants, warrants and represents to the other party that it has
had no dealings, conversations or negotiations with any broker concerning the
execution and delivery of this Amendment. Landlord and Tenant hereby indemnify
and hold each other harmless against any loss, claim, expense or liability
arising from any action of the other party or from any broker claiming through
the other party with respect to any commissions or brokerage fees claimed by any
entity on account of the execution of this Amendment.
4. Tenant
represents and warrants that it is the sole owner and holder of the Tenant’s
interest in the Lease, and it has not assigned, mortgaged, hypothecated, sublet,
or otherwise alienated all or any part of its interest in the Lease or the
Premises. The Lease is in full force and effect and is enforceable in accordance
with its terms. Tenant has no claim, action or right of setoff against Landlord
arising out of the Lease or Tenant’s occupancy. Tenant represents that there has
been no default on the part of Landlord or Tenant under the Lease, nor has any
event or condition occurred that after the giving of notice or
lapse
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of
time, or both, would constitute an event of default on the part of Landlord or
Tenant under the Lease.
5. Tenant
hereby renews its obligations to Landlord for the full, prompt and timely
payment of all rents and other sums required to be paid by Tenant during the
term of the Lease as herein modified, and for the full, prompt and timely
performance of, compliance with and observation of all the terms contained in
the Lease as herein modified.
6. The
parties hereto represent and warrant to each other that each has full right and
authority to enter into this Amendment and that the person signing this
Amendment on behalf of Landlord and Tenant respectively has the requisite
authority for such act.
7. Except
as expressly provided herein, all other terms, conditions, covenants, conditions
and agreements as set forth in the Lease remain unchanged and in full force and
effect.
8. This
Amendment shall be governed by the laws of the State of New Jersey.
(Remainder
of this page left intentionally blank — Signature page to
follow)
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IN WITNESS WHEREOF, the parties have
executed this Amendment as of the date first above written.
BOI I, L.L.C.,
a New Jersey limited liability
company
By:
Advance Plaza, Inc.
a New Jersey corporation, its managing
member
By:
/s/ Xxxx
X.
Xxxxxxxx
Name: Xxxx X.
Xxxxxxxx
Title: COO
PERFORMANCE HEALTH TECHNOLOGIES,
INC.,
a Delaware corporation
By:
/s/
Xxxxxx X.
Xxxxxxxx
Name: Xxxxxx X.
Xxxxxxxx
Title: CEO
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