EXHIBIT 10.53
FIRST AMENDMENT TO OFFICE LEASE
BETWEEN
CRESCENT REAL ESTATE FUNDING VIII, L.P.
("LANDLORD")
AND
STARTEK USA, INC.
("TENANT")
FIRST AMENDMENT TO OFFICE LEASE
THIS FIRST AMENDMENT TO OFFICE LEASE (this "First Amendment") is entered
into as of the 14th day of June , 2004, by and between CRESCENT REAL ESTATE
FUNDING VIII, L.P., a Delaware limited partnership ("Landlord"), and STARTEK
USA, INC., a Colorado corporation ("Tenant").
R E C I T A L S:
A. Landlord and Tenant executed that certain Office Lease dated May 21,
2004 (the "Lease"), covering certain space containing approximately 14,077
Rentable Square Feet (the "Premises"), commonly known as Suite 400, and located
on the 4th floor of that office building commonly known as 44 Xxxx, and located
at 00 Xxxx Xx., Xxxxxx, Xxxxxxxx (the "Building").
B. Tenant desires: (i) to modify Section 3.A. of the Lease to eliminate
its special termination right and to further eliminate certain contingencies
related to the Current Tenant; and (ii) to further amend and modify the Lease in
certain respects as provided herein, and Landlord has agreed to such
modifications, all on the terms and conditions contained herein.
C. Unless otherwise expressly provided herein, capitalized terms used
herein shall have the meanings as designated in the Lease.
AGREEMENT:
In consideration of the sum of Ten Dollars ($10.00), the mutual covenants
and agreements contained herein and in the Lease, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Landlord and Tenant hereby further amend and modify the Lease as
follows:
1. Modification of Section 3.A. Section 3.A. of the Lease is
hereby deleted and amended in its entirety to read as follows:
A. TERM. This Lease shall govern the relationship between Landlord and
Tenant with respect to the Premises from the Effective Date through the
last day of the Term specified in SECTION 1.G (the "EXPIRATION DATE"),
unless terminated early in accordance with this Lease. The Term of this
Lease (as specified in SECTION 1.G) shall commence on the "COMMENCEMENT
DATE", which shall be the earliest of (1) the date on which the Landlord
Work (defined below) is Substantially Complete, as determined pursuant to
the Work Letter (defined below), or (2) the date on which the Landlord
Work would have been Substantially Complete but for Tenant Delay, as such
term is defined in the Work Letter, or (3) the date
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Tenant takes possession of any part of the Premises for purposes of
conducting business. If Landlord is delayed in delivering possession of
the Premises or any other space due to any reason, including Landlord's
failure to Substantially Complete the Landlord Work by the Estimated
Commencement Date, the holdover or unlawful possession of such space by
any third party or for any other reason, such delay shall not be a default
by Landlord, render this Lease void or voidable, or otherwise render
Landlord liable for damages. Promptly after the determination of the
Commencement Date, the Expiration Date, the Rent schedule and any other
variable matters, Landlord shall prepare and deliver to Tenant a
commencement letter agreement substantially in the form attached as
EXHIBIT C. If such commencement letter is not executed by Tenant within 30
days after delivery of same by Landlord, then Tenant shall be deemed to
have agreed with the matters set forth therein. Notwithstanding any other
provision of this Lease to the contrary, if the Expiration Date would
otherwise occur on a date other than the last day of a calendar month,
then the Term shall be automatically extended to include the last day of
such calendar month, which shall become the Expiration Date. "LANDLORD
WORK" means the work, if any, that Landlord is obligated to perform in the
Premises pursuant to a separate work letter agreement (the "WORK LETTER"),
if any, attached as EXHIBIT D. If a Work Letter is not attached to this
Lease or if an attached Work Letter does not require Landlord to perform
any work, the occurrence of the Commencement Date shall not be conditioned
upon the performance of work by Landlord.
2. Brokers. Neither Landlord nor Tenant has dealt with any broker
or agent in connection with the negotiation or execution of this First
Amendment. Tenant and Landlord shall each indemnify the other against all costs,
expenses, attorneys' fees, and other liability for any commissions or other
compensation claimed by any other broker or agent claiming the same by, through,
or under the indemnifying party.
3. Ratification of Lease. All of the terms and provisions of the Lease
as herein amended and supplemented, are hereby ratified and confirmed, and shall
remain in full force and effect.
4. Time of the Essence. Time is of the essence with respect to Tenant's
execution and delivery of this First Amendment to Landlord. If Tenant fails to
execute and deliver a signed copy of this First Amendment to Landlord by 5:00
p.m. (Denver, Colorado time) on June 2, 2004, it shall be deemed null and void
and shall have no force or effect, unless otherwise agreed in writing by
Landlord. Landlord's acceptance, execution and return of this document shall
constitute Landlord's agreement to waive Tenant's failure to meet the foregoing
deadline.
5. Binding Effect. Except as modified by this First Amendment, the
terms and provisions of the Lease shall remain in full force and effect, and the
Lease, as modified by this First Amendment, shall be binding upon the parties
hereto, their
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successors and permitted assigns. This First Amendment shall become effective
only after the full execution and delivery hereof by Landlord and Tenant.
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EXECUTED as of the date first written above.
TENANT: LANDLORD:
STARTEK USA, INC., a Colorado CRESCENT REAL ESTATE FUNDING VIII,
corporation L.P. , a Delaware limited partnership
By: CRE Management VIII, LLC, a
Delaware limited liability
company, its general
partner
By: /s/ X.X. Xxxxxxx By: Crescent Real Estate
--------------------------------- Equities, Ltd., a
Name: Xxxxx Xxxxxxx Delaware corporation,
Title: COO
By: /s/ Xxxx Xxxx
------------------------------
Name: Xxxx X. Xxxx, Xx.
Title: Senior Vice President
Asset Management & Leasing
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