UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT
REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: August 15, 2006
(Date of earliest event reported)
CA, Inc.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
1-9247 |
13-2857434 |
(Commission File Number) |
(IRS Employer Identification No.) |
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One CA Plaza |
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Islandia, New York |
11749 |
(Address of Principal Executive Offices) |
(Zip Code) |
(631) 342-6000
(Registrants Telephone Number, Including Area Code)
Not applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
On Tuesday, August 15, 2006, CA, Inc. (the Company ), entered into a purchase and sale agreement (the Purchase Agreement ) and a lease agreement (the Lease ) with Island Headquarters Operators LLC, a Delaware limited liability company, and Islandia Operators LLC, a Delaware limited liability company (collectively, Purchaser or Lessor ). The Purchase Agreement sets forth the terms and conditions whereby the Company sold to Purchaser for a cash purchase price of $204.3 million, its world headquarters located at One CA Plaza, Islandia, New York, 11749, including all buildings, structures, fixtures and other improvements thereon (the Premises ).. The purchase price less certain expenses was paid to Company and the sale was consummated on Tuesday, August 15, 2006. Concurrently with the closing of the sale, the Company leased back the Premises from the Lessor for a term of 15 years, with several options for the Company to renew for up to a total lease term of 35 years.
Item 2.01 Completion of Acquisition or Disposition of Assets.
See Item 1.01 above.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On August 15, 2006, the Company entered into the Lease pursuant to which the Company is leasing back the Premises from the Lessor for the period commencing on the date of closing of the sale of the Premises ( Effective Date ) and, unless renewed at Companys option, ending at 11:59 p.m. on the day immediately preceding the 15 th anniversary of the Effective Date. The monthly base rent is $1,263,211.25 and will increase annually until the 11 th anniversary of the Effective Date by approximately .78% and thereafter be constant until the expiration of the initial term. The Company is also responsible for paying real estate taxes and operating expenses, as well as any capital expenditures required to maintain the Premises in good condition and repair and in compliance with applicable laws. Pursuant to the Purchase Agreement, the Company paid the Lessor out of the sales proceeds, advance rent, which will be utilized to pay the monthly base rent through September 2006.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit No. |
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Description |
Exhibit 10.1 |
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Purchase and Sale Agreement, dated as of August 15, 2006, among CA, Inc., Island Headquarters Operators LLC and Islandia Operators LLC |
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Exhibit 10.2 |
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Lease, dated as of August 15, 2006, among CA, Inc., Island Headquarters Operators LLC and Islandia Operators LLC |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CA, INC. |
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Date: August 21, 2006 |
By: |
/s/ Michael J. Christenson |
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Name: |
Michael J. Christenson |
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Title: |
Executive Vice President and Chief Operating Officer |
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Exhibit 10.1
PURCHASE AND SALE AGREEMENT
Among
CA, INC.,
as Seller,
and
ISLAND
HEADQUARTERS OPERATORS LLC
and ISLANDIA OPERATORS LLC,
collectively, as Purchaser.
Dated as of August 15, 2006
Property
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One CA Plaza, Islandia, New York
TABLE OF CONTENTS
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Section 1. |
Interpretation |
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1 |
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Section 2. |
Definitions |
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2 |
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Section 3. |
Agreement to Sell and Purchase |
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5 |
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Section 4. |
Purchase Price; Allocation; Method of Payment |
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5 |
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Section 5. |
Agreement to Lease |
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5 |
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Section 6. |
Due Diligence |
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5 |
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Section 7. |
Responsibility for Costs; Adjustments and Prorations |
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7 |
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Section 8. |
Closing |
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7 |
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Section 9. |
Conditions to Closing |
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8 |
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Section 10. |
Omitted |
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10 |
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Section 11. |
Title Support |
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10 |
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Section 12. |
Recordation |
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10 |
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Section 13. |
Omitted |
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11 |
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Section 14. |
Representations and Warranties of Seller |
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11 |
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Section 15. |
Representations and Warranties of Purchaser |
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13 |
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Section 16. |
Provisions relating to Representations and Warranties |
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14 |
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Section 17. |
Omitted |
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14 |
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Section 18. |
Hazardous Materials |
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14 |
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Section 19. |
AS-IS; RELEASE |
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15 |
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Section 20. |
Indemnification |
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17 |
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Section 21. |
Omitted |
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17 |
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Section 22. |
Omitted |
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17 |
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Page |
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Section 23. |
Brokers or Advisors |
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17 |
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Section 24. |
Further Assurances |
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18 |
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Section 25. |
Binding Effect |
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18 |
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Section 26. |
No Third Party Beneficiaries |
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18 |
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Section 27. |
Confidentiality |
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18 |
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Section 28. |
Assignment |
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19 |
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Section 29. |
Notices |
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19 |
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Section 30. |
Time of the Essence |
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20 |
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Section 31. |
Severability |
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20 |
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Section 32. |
No Waiver |
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20 |
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Section 33. |
Applicable Law |
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20 |
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Section 34. |
Entire Agreement |
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21 |
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Section 35. |
Modifications |
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21 |
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Section 36. |
Consequential, Exemplary or Punitive Damages |
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21 |
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Section 37. |
Attorneys Fees |
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21 |
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Section 38. |
Counterparts |
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21 |
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Section 39. |
Miscellaneous |
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ii
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List of Exhibits |
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Exhibit A: |
Description of Land |
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Exhibit B: |
Omitted |
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Exhibit C: |
Omitted |
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Exhibit D: |
Permitted Exceptions |
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Exhibit E: |
Form of Deed |
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Schedule A to Deed: |
Legal Description of Real Property |
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Schedule B to Deed: |
Permitted Exceptions |
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Exhibit F: |
Site Plan showing Current LIPA Area and Former LIPA Area |
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Exhibit G: |
Site Plan showing Pump Station Area |
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List of Schedules |
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Schedule 1: |
Environmental Reports |
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Schedule 2: |
Retained Fixtures |
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Schedule 3: |
Notices of Violations |
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Schedule 4: |
Property Documents |
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iii
PURCHASE AND SALE AGREEMENT ( Agreement ), dated as of the 15th day of August, 2006 among CA, INC., a Delaware corporation ( Seller ), ISLAND HEADQUARTERS OPERATORS LLC, a Delaware limited liability company, as to an estate for years of twenty-seven (27) years, beginning on the Closing Date and ending on the day preceding the twenty-seventh (27 th ) anniversary of the Closing Date (Island), and ISLANDIA OPERATORS LLC, a Delaware limited liability company for the remainder interest, consisting of the entire fee simple interest in the Property other than the estate for years ( Islandia , and together with Island, Purchaser ).
Preliminary Statement
WHEREAS, Seller desires to sell and convey to Purchaser, and Purchaser desires to purchase and accept from Seller, any and all of Sellers right, title and interest in and to the Property (as hereinafter defined), upon and subject to the terms and conditions set forth herein.
WHEREAS, contemporaneously with the closing of said sale and purchase, Purchaser, as lessor, and Seller, as lessee, desire to enter into a lease of the Property, all as more particularly set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
Access Agreement shall have the meaning set forth in Section 6(c).
Buildings shall mean the buildings and structures on the Property, including, the six-story central office tower, the two-story atrium building and the two-story annex.
Business Day shall mean any day other than (i) Saturday and Sunday or (ii) a day on which the banks in State are required to close.
Claims shall have the meaning set forth in Section 20(a) .
Closing shall mean the closing of the purchase, sale and lease of the Property pursuant hereto.
Closing Date shall mean the date of this Agreement.
Current LIPA Area shall have the meaning given such term in Section 6(b) .
Deed shall mean the form of deed attached hereto as Exhibit E .
Due Diligence Period shall have the meaning given such term in Section 6(a) .
Environmental Laws shall have the meaning given such term in the Lease.
Environmental Reports shall mean the environmental assessment reports specified on Schedule 1 hereto.
Escrow Instructions shall have the meaning set forth in Section 4(b) .
Fixtures shall have the meaning set forth in the definition of the term Property.
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Former LIPA Area shall have the meaning given such term in Section 6(b) .
Governmental Authority shall have the meaning given such term in the Lease.
Improvements shall mean the Buildings and all fixtures attached to or located in, on or under the Buildings and other structures situated on the Land, including the roads, parking lots and structures, structural systems, mechanical systems, electrical systems, power plants, storage tanks, heating, ventilation and air conditioning systems, plumbing systems, fire and life-safety systems, access ways, sidewalks, recreational areas, vehicle control facilities, landscaping and utility systems used or procured for use in connection with the operation and maintenance of the Property, excepting, however, any personalty, including machinery, inventory, tools, trade equipment, trade fixtures and furniture.
Land shall have the meaning set forth in the definition of the term Property.
Lease shall mean the form of lease agreement being executed and delivered concurrently herewith.
LIPA shall have the meaning given such term in Section 6(b) .
Organizational Document means with respect to any Person (i) in the case of a corporation, such Persons certificate of incorporation and by-laws, (ii) in the case of a limited partnership, such Persons certificate of limited partnership, limited partnership agreement and any voting trusts or similar arrangements applicable to its partners or any of its partnership interests, (iii) in the case of a limited liability company, such Persons certificate of formation or certificate of organization, limited liability company agreement and any other document affecting the rights or duties of managers or holders of limited liability company interests or (iv) in the case of any other legal entity, such Persons organizational documents and all other documents establishing or affecting the duties or rights of holders of equity interests in such Person.
Permitted Exceptions means those items set forth on Exhibit D , together with any other title matter that, in Purchasers reasonable discretion, does not affect (other than to an immaterial extent) the value or intended use of the Property.
Property means that real property described on Exhibit A (the Land ); together with the Buildings and the other Improvements; together with all replacements, modifications, alterations and additions thereto; together with all easements, rights and appurtenances relating to the Land or the Improvements; but excluding any Retained Fixtures (collectively, excluding the Retained Fixtures, the Fixtures ), subject to the Permitted Exceptions. Notwithstanding the foregoing or anything to the contrary herein, the following are expressly excluded from the definition of Property hereunder: (a) all tangible and intangible personal property, including all intellectual property whether owned or leased by Seller or third parties, all software object and source code, all trade fixtures, furniture and furnishings (including computers, servers, inventory and tools) and all equipment in any way related to the use, occupancy, repair or maintenance of the Property, except if the same is incorporated into the structural, mechanical, plumbing, heating, ventilation and air conditioning or electrical systems of any of the Main Buildings, and (b) any deposits with from utility companies or governmental
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agencies provided by Seller and any refunds that are now or may hereafter be payable in respect of the Property (including relating to real estate taxes) attributable to the period prior to the Closing Date.
Property Documents shall have the meaning set forth in Section 14(k) .
Pump Station Area shall have the meaning set forth in Section 6(b) .
Purchase Price shall have the meaning set forth in Section 4(a) .
Purchaser shall have the meaning set forth in the introduction, and unless otherwise stated or the context shall otherwise require, references to Purchaser herein shall be deemed to mean each of the parties comprising Purchaser.
Purchaser Parties shall have the meaning set forth in Section 20(b) .
Purchaser Related Party shall have the meaning set forth in Section 19(b) .
Purchasers Designated Representatives means Francesco Piovanetti and David Metzman, provided that on notice to Seller, Purchaser shall have the right from time to time to replace any one or more of the above-specified persons.
Purchasers knowledge , known to Purchaser and words of similar import shall mean to the actual knowledge of either of Purchasers Designated Representatives.
Retained Fixtures means those fixtures in respect of the Improvements specified on Schedule 2 hereto.
Seller shall have the meaning set forth in the introduction.
Seller Parties shall have the meaning set forth in Section 20(a) .
Seller Related Party shall have the meaning set forth in Section 19(b) .
Sellers Designated Representatives means Charles Quinn, provided that, on notice to Purchaser, Seller shall have the right from time to time to replace any one or more of the above-specified persons.
Sellers knowledge , known to Seller and words of similar import shall mean the actual knowledge of Sellers Designated Representatives.
State means New York State.
Subordination, Nondisturbance and Attornment Agreement shall have the meaning set forth in Section 12 .
Title Documents shall have the meaning set forth in Section 6(b) .
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Bank: Wachovia Bank, N.A.
ABA#: 0312-0146-7
Account Name: CA, Inc.
Account Number: 2000028308067
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Notwithstanding anything herein that may be construed to the contrary, under no circumstances shall Purchasers obligations hereunder be conditioned on Purchasers ability to obtain and/or close on any financing to pay all or any portion of the Purchase Price.
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The provisions of this Section shall survive the Closing.
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Assignment . Except as provided below in this Section, this Agreement cannot be assigned by Purchaser, nor may the direct or indirect interests in Purchaser be conveyed, voluntarily or involuntarily, by agreement or operation of law, in whole or in part without the prior written consent of Seller, which consent may be withheld by Seller for any reason whatsoever, and any assignment or transfer in violation of this Section 28 shall be null and void and constitute a material default on the part of Purchaser under this Agreement. Notwithstanding the foregoing, Purchaser may collaterally assign all of its rights under this Agreement for any breach of warranty or other similar claim so long as following such assignment the assignee may pursue any such claim only subsequent to a foreclosure or other transfer of the Property to assignee.
To Seller:
CA, Inc.
One CA Plaza
Islandia, New York 11749
Attention: Lease Administration
Fax: (631) 342-6872
with a copy to:
CA, Inc.
One CA Plaza
Islandia, New York 11749
Attention: Legal Real Estate Notice
Fax: (631) 342-4866
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To Purchaser:
Island
Headquarters Operators LLC
c/o CRIC Asset Management LLC, as Asset Manager
One Exeter Plaza
Boston, MA 02116
Fax: (617) 303-4440
And
Islandia Operators
LLC
c/o CRIC Asset Management LLC, as Asset Manager
One Exeter Plaza
Boston, MA 02116
Fax: (617) 303-4440
with a copy to:
Liechty &
McGinnis, P.C.
7502 Greenville Avenue, Suite 750
Dallas, Texas 75231
Attention: Lorne O. Leichty, Esq.
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IN WITNESS WHEREOF, Purchaser and Seller have executed and delivered this Purchase and Sale Agreement as of the day and year first above written.
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SELLER : |
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CA, INC., a Delaware corporation |
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By: |
/s/ Bryan Urquhart |
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Bryan Urquhart |
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SVP- Finance and Administration |
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PURCHASER : |
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ISLANDIA OPERATORS LLC, a Delaware
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By: |
/s/ Francesco Piovanetti |
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Francesco Piovanetti |
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Vice President |
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ISLAND HEADQUARTERS OPERATORS
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By: |
/s/ Francesco Piovanetti |
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Francesco Piovanetti |
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Vice President |
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Exhibit
A
Description of Land
[As executed, the legal description in metes and bounds, but for purposes of this filing, the land commonly known as One CA Plaza, Islandia, NY 11749.]
Exhibit 10.2
LEASE AGREEMENT
Dated as of August 15, 2006
Between
ISLAND HEADQUARTERS
OPERATORS LLC,
as Owner of the Estate for Years,
and
ISLANDIA OPERATORS LLC,
as Remainderman,
Collectively, as Lessor,
and
CA, INC., as Lessee
One CA Plaza
Islandia, New York 11749
List of Attachments
Appendix A |
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Definitions, Rider of Construction |
Schedules |
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3.1 |
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Base Net Rent for the Initial Term |
3.3 |
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Rent Control Direction Letter |
5.3-A |
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Base Net Rent for the First Renewal Term assuming renewal subsequent to 10 th anniversary of the Effective Date |
5.3-B |
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Base Net Rent for the First Renewal Term assuming renewal on or prior to 10 th anniversary of the Effective Date |
9.5(d) |
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Description of Alterations permitted without compliance with Section 9.5(b) |
23.2 |
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Special-Purpose Covenants |
25.11(b) |
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Former LIPA Area, Current LIPA Area and Pump Station Area |
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Exhibit |
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A |
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Legal Description of the Land |
B |
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Site Map Showing Central Tower, Atrium Building and Annex |
C |
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Form of Sublease Subordination, Nondisturbance and Attornment Agreement |
D |
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Form of Mortgagee Subordination, Nondisturbance and Attornment Agreement |
E |
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Road Abandonment Plan |
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Table of Contents
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ARTICLE I. DEFINITIONS |
1 |
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ARTICLE II. LEASE OF PROPERTY |
1 |
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SECTION 2.1. |
Demise and Lease |
1 |
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SECTION 2.2. |
True Lease |
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ARTICLE III. RENT |
1 |
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SECTION 3.1. |
Base Net Rent. |
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SECTION 3.2. |
Supplemental Rent |
2 |
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SECTION 3.3. |
Method of Payment |
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SECTION 3.4. |
Late Payment |
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SECTION 3.5. |
Net Lease; No Setoff |
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ARTICLE IV. LESSEES ACCEPTANCE OF PROPERTY |
3 |
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ARTICLE V. RENEWAL OPTIONS |
3 |
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SECTION 5.1. |
Grant of Options |
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SECTION 5.2. |
Manner of Exercise |
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SECTION 5.3. |
Rent during Renewal Terms. |
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SECTION 5.4. |
Determination of Fair Market Rental Value |
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SECTION 5.5. |
Lease Provisions Applicable During Renewal |
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ARTICLE VI. INTENTIONALLY OMITTED |
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ARTICLE VII. PERMITTED USE; COMPLIANCE; NAMING |
5 |
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SECTION 7.1. |
Use |
5 |
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SECTION 7.2. |
Compliance with Applicable Laws and Restrictions |
6 |
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SECTION 7.3. |
Permits, Licenses |
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SECTION 7.4. |
Naming of the Property |
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ARTICLE VIII. CURE OF LESSEE LIENS |
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SECTION 8.1. |
No Lessee Liens |
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SECTION 8.2. |
No Leasehold Mortgages |
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SECTION 8.3. |
Notice re: Work Giving Rise to Liens |
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ARTICLE IX. MAINTENANCE AND REPAIRS; ALTERATIONS |
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SECTION 9.1. |
Maintenance and Repair |
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SECTION 9.2. |
Replacement of Components |
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SECTION 9.3. |
Lessees Right to Enforce Warranties |
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SECTION 9.4. |
Lessor not Responsible for Repairs |
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SECTION 9.5. |
Alterations. |
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SECTION 9.6. |
Title to Alterations |
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SECTION 9.7. |
No Lessor Rights to Lessees Personalty |
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ARTICLE X. PERMITTED CONTESTS; EXCUSABLE DELAY |
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SECTION 10.1. |
Contest Right |
11 |
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SECTION 10.2. |
Lessors Cooperation |
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SECTION 10.3. |
Effect of Contest on Lessees Obligations Generally |
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SECTION 10.4. |
Force Majeure |
11 |
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ARTICLE XI. ENVIRONMENTAL COMPLIANCE |
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SECTION 11.1. |
Lessees Obligation Generally |
12 |
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SECTION 11.2. |
Lessees Obligation with respect to Remedial Work |
12 |
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SECTION 11.3. |
Lessees Obligation with respect to Third Parties |
13 |
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SECTION 11.4. |
Indemnity for Environmental Matters |
13 |
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SECTION 11.5. |
Lessee to Notify Lessor of Environmental Events |
13 |
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SECTION 11.6. |
Lessee Right to Control Remediation |
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ARTICLE XII. INSURANCE |
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SECTION 12.1 |
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SECTION 12.2. |
Policies. |
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ARTICLE XIII. RETURN OF LEASED PROPERTY TO LESSOR |
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ARTICLE XIV. CASUALTY; CONDEMNATION |
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SECTION 14.1. |
Notice |
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SECTION 14.2. |
Casualty or Condemnation not Constituting an Event of Loss |
19 |
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SECTION 14.3. |
Event of Loss |
19 |
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SECTION 14.4. |
Collection, Disbursement and Application of Proceeds for so long as Lease Continues. |
20 |
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SECTION 14.5. |
Rent Obligation When Lease Continues |
22 |
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SECTION 14.6. |
Negotiations |
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SECTION 14.7. |
Lessees Right to Claim Relocation Expenses, etc |
22 |
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SECTION 14.8. |
Express Provisions to the Contrary |
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ARTICLE XV. ASSIGNMENT |
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ARTICLE XVI. SUBLEASE |
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SECTION 16.1. |
Subleasing Permitted; Lessee Remains Obligated |
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SECTION 16.2. |
Provisions of Subleases |
24 |
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SECTION 16.3. |
Sublessee Nondisturbance Agreements |
24 |
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SECTION 16.4. |
Lessee Reimbursement of Expenses |
25 |
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ARTICLE XVII. BROKERS |
25 |
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ARTICLE XVIII. LESSORS INSPECTION AND SHOWING THE PROPERTY |
25 |
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SECTION 18.1. |
Generally |
25 |
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SECTION 18.2. |
No Duty to Inspect |
26 |
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SECTION 18.3. |
Showing |
26 |
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ARTICLE XIX. DEFAULTS; REMEDIES |
26 |
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- iv -
SECTION 19.1. |
Event of Default |
26 |
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SECTION 19.2. |
Remedies |
27 |
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SECTION 19.3. |
Survival of Lessees Obligations |
28 |
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SECTION 19.4. |
Right of Lessor to Perform for Lessee. |
29 |
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SECTION 19.5. |
Right of Lessee to Perform for Lessor |
30 |
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SECTION 19.6. |
Lessor Reasonableness Resolved by Arbitration |
30 |
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SECTION 19.7. |
No Punitive, Consequential or Indirect Damages |
30 |
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SECTION 19.8. |
Remedies Cumulative; No Waiver; Consents |
30 |
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SECTION 19.9. |
Attorneys Fees |
31 |
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SECTION 19.10. |
Lessor Right to Request Escrows During Continuance of Event of Default |
31 |
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ARTICLE XX. INDEMNITIES |
31 |
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SECTION 20.1. |
General Indemnification. |
31 |
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SECTION 20.2. |
Taxes. |
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ARTICLE XXI. MERGER OF LESSEE |
36 |
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ARTICLE XXII. LESSEE FINANCIAL INFORMATION |
36 |
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ARTICLE XXIII. LESSORS COVENANTS AND AGREEMENTS |
37 |
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SECTION 23.1. |
Discharge of Lessor Liens |
37 |
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SECTION 23.2. |
Special-Purpose Provisions |
37 |
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SECTION 23.3. |
Restrictions on Transfer of Lessors Interests. |
37 |
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SECTION 23.4. |
First Offer in favor of Lessee. |
41 |
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SECTION 23.5. |
Quiet Enjoyment |
44 |
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SECTION 23.6. |
Copies of Notices |
44 |
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ARTICLE XXIV. LESSORS FINANCING; SUBORDINATION |
45 |
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SECTION 24.1. |
Lessors Mortgages and Lessees Nondisturbance. |
45 |
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SECTION 24.2. |
Attornment |
46 |
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ARTICLE XXV. MISCELLANEOUS |
46 |
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SECTION 25.1. |
Binding Effect; Successors and Assigns |
46 |
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SECTION 25.2. |
Notices |
47 |
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SECTION 25.3. |
Severability |
48 |
||
SECTION 25.4. |
Amendment; Complete Agreements |
48 |
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SECTION 25.5. |
Business Day |
48 |
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SECTION 25.6. |
Headings |
48 |
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SECTION 25.7. |
Counterparts |
48 |
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SECTION 25.8. |
Governing Law |
48 |
||
SECTION 25.9. |
Apportionments |
48 |
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SECTION 25.10. |
Estoppel Certificates |
48 |
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SECTION 25.11. |
Granting of Easements. |
49 |
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SECTION 25.12. |
No Joint Venture |
52 |
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SECTION 25.13. |
No Merger |
52 |
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SECTION 25.14. |
Lessor Bankruptcy |
52 |
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- v -
SECTION 25.15. Expenses; Reimbursements and Requirements for Requesting Same |
52 |
SECTION 25.16. Further Assurances |
53 |
SECTION 25.17. Holdover |
53 |
SECTION 25.18. Non-recourse |
53 |
SECTION 25.19. Survival |
53 |
SECTION 25.20. Waiver of Jury Trial |
53 |
- vi -
LEASE AGREEMENT (this Lease ), dated as of August 15, 2006, between ISLAND HEADQUARTERS OPERATORS LLC, a Delaware limited liability company, as the Owner of the Estate for Years, and ISLANDIA OPERATORS LLC, a Delaware limited liability company, as Remainderman, collectively, as lessor, and CA, INC., a Delaware corporation, as lessee.
In consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:
Capitalized terms used and not otherwise defined herein shall have the meanings assigned thereto in Appendix A hereto for all purposes hereof. In addition, Appendix A sets forth certain rules of construction that shall be applicable to this Lease.
Lessor acknowledges that it has received Base Net Rent paid through September, 2006.
2
The Property is demised and let by Lessor AS IS in its present condition. Lessee has examined the Property and has found the same to be satisfactory. LESSOR HAS NOT MADE AND SHALL NOT BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, OR SHALL BE DEEMED TO HAVE ANY LIABILITY WHATSOEVER AS TO THE VALUE, HABITABILITY, COMPLIANCE AS OF THE EFFECTIVE DATE (OR ANY TIME THEREAFTER) WITH THE PLANS AND SPECIFICATIONS FOR THE PROPERTY, CONDITION, LOCATION, USE, DESCRIPTION, MERCHANTABILITY, DESIGN, OPERATION, OR FITNESS FOR USE OF THE PROPERTY (OR ANY PART THEREOF), OR ANY OTHER REPRESENTATION OR WARRANTY WHATSOEVER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY (OR ANY PART THEREOF), AND LESSOR SHALL NOT BE LIABLE FOR ANY LATENT, HIDDEN OR PATENT DEFECT THEREIN OR THE FAILURE OF THE PROPERTY TO COMPLY WITH APPLICABLE LAWS AS OF THE EFFECTIVE DATE OR AT ANY TIME THEREAFTER DURING THE TERM. It is agreed that Lessee has been afforded full opportunity to inspect the Property, is satisfied with the results of its inspections of the Property and is entering into this Lease solely on the basis of the results of its own inspections and all risks incident to the matters discussed in the preceding sentence. The provisions of this Article IV have been negotiated, and the foregoing provisions are intended to be a complete exclusion and negation of any representations or warranties by Lessor, express or implied, with respect to the Property, that may arise pursuant to any law now or hereafter in effect, or otherwise.
3
4
5
6
7
8
9
If an Alteration is not within any of the categories set forth in clauses (a) through (c) of this Section 9.6, then title to such Alteration shall vest in Lessee. So long as removal thereof shall not result in the violation of any Applicable Laws and Restrictions or this Lease, all Alterations to which title shall vest in Lessee as aforesaid may be removed at any time by Lessee, provided that Lessee shall, at its expense, repair any damage (other than of a de minimis nature) to the Property caused by the removal of such Alteration and shall restore the affected portion of the Property to substantially the same condition in which it would have been had the Alteration not been made.
10
Lessee shall not be required to comply with such Applicable Law and Restriction; provided, with respect to a matter described in Section 10.1(a) above, Lessee shall pay promptly all costs, including all interest and penalties, and perform all acts (if any) the payment and performance of which shall be ultimately ordered or decreed as a result of such test, challenge, appeal or proceeding.
11
ARTICLE XI.
ENVIRONMENTAL COMPLIANCE
12
13
14
15
16
17
Unless the Lessors Interests are then being transferred to Lessee or its designee pursuant to this Lease, Lessee shall, on the expiration or earlier termination of this Lease, return the Property to Lessor by surrendering the same into the possession of Lessor free and clear of all Liens, except that Lessee shall have no responsibility or liability in respect of Liens described in clauses (a), (b) (to the extent of taxes allocable to periods after the Term), (e) and (f) of the definition of Permitted Liens . All Alterations in respect of which title has not been vested in Lessor hereunder that shall have not been removed by Lessee at or prior to the thirtieth (30th) day after the expiration or earlier termination of this Lease shall be deemed abandoned in place by Lessee and shall become the property of Lessor. Lessee shall remove from the Property, on or prior to the thirtieth (30th) day after the expiration or earlier termination of this Lease, all of Lessees personal property and, if applicable, any personal property of Lessees sublessees, assignees or other users of the Property which would constitute Lessees personal property if owned by Lessee (subject to the rights of such Persons granted under any applicable Lessor Nondisturbance Agreements) and shall repair any damage (other than of a de minimis nature) caused by such removal. Any property described in the
18
immediately preceding sentence not so removed shall become the property of Lessor, and Lessor may cause such property to be removed from the Property and disposed of, but the cost of any such removal and disposition and of repairing any damage caused by such removal shall be borne by Lessee. Except for surrender at the expiration or earlier termination of the Term, no surrender to Lessor of this Lease or of the Property shall be valid or effective unless agreed to and accepted in writing by Lessor. Lessee shall assign to Lessor any and all assignable warranties, licenses and permits relating to the property surrendered to Lessor which extend beyond the expiration or earlier termination of this Lease, such assignment to be without representation, warranty or recourse of any sort whatsoever.
19
20
21
22
Lessee may assign this Lease to any Person without the consent of Lessor provided that, as of the effective date of the assignment, no Event of Default then exists. Any assignee shall assume any obligations of Lessee arising from and after the effective date of the assignment. Such assignment shall not release the Lessee named herein from its primary liability for the performance of its duties and obligations under this Lease, and the Lessee named herein (and all subsequent assignees) shall continue to be obligated for all obligations of Lessee in this Lease, which obligations shall continue in full effect as obligations of a principal and not of a guarantor or surety, as though no assignment had been made. Any assignor of this Lease who so requests in writing of Lessor will have the right, subsequent to any assignment, (a) to receive a duplicate copy of each notice of default hereunder sent by Lessor to the Lessee from time to time (and no such notice shall be effective as against such Lessee unless and until such copy has been delivered to such assignor in accordance with the provisions of Section 25.2), and (b) to cure any default by such Lessee under this Lease within the cure period provided for hereunder. To the extent an assignor of this Lease performs on behalf of Lessee the obligations of Lessee hereunder, such assignor shall be subrogated to the rights of Lessor ( provided that such assignor may not claim or collect on such subrogated right unless Lessor shall have received all amounts then due and payable to Lessor from Lessee).
23
24
If Lessor is obligated under this Section 16.3 to deliver a Lessor Nondisturbance Agreement with respect to a particular Sublease, then Lessor shall also cause each Mortgagee to execute and deliver its agreement to be bound by the terms of the Lessor Nondisturbance Agreement if such Mortgagee or any purchaser at foreclosure or other successor thereto shall at any time acquire Lessors Interests.
Lessee and Lessor each represents and warrants that it has had dealings with only Jones Lang LaSalle Americas Inc. ( Lessees Broker ) in connection with the negotiation of this Lease and it knows of no other real estate broker or agent who is entitled to a commission in connection with this Lease. Any brokerage commission payable to Lessees Broker in connection with this transaction shall be paid by Lessee pursuant to a separate agreement, and Lessee shall indemnify, defend and hold Lessor harmless from and against all liabilities arising from any claims by or under Lessees Broker in connection with t his Lease. Lessee and Lessor shall indemnify, defend and hold the other harmless from and against all liabilities arising from any other claims of brokerage commissions or finders fees based on, respectively, Lessees or Lessors dealings or contacts with brokers or agents other than those Lessees Broker or breach of the foregoing representation.
25
26
27
28
29
30
31
provided that Lessee shall not be required to indemnify any Indemnitee under this Section 20.1 for any of the following: (1) any Claim to the extent attributable to acts or events which occur after the later of (a) the expiration or earlier termination of the Term and (b) the date on which possession of the Property has been returned to Lessor, (2) any Claim to the extent resulting from the willful misconduct or gross negligence of any Indemnitee, its agents, employees or Affiliates, (3) any expense expressly provided under this Lease to be paid or borne by a party other than Lessee, (4) any Claim to the extent resulting from a transfer by any Indemnitee or any Affiliate of all or part of its direct or indirect interest in this Lease or the Property, (5) any Claim to the extent resulting from a material breach or violation by Lessor or its agents, employees or Affiliates of any of Lessors representations, warranties or covenants in this Lease or from a violation of Applicable Laws and Restrictions by any Indemnitee or its agents, employees or Affiliates not required to be complied with by Lessee hereunder, (6) any Claims in respect of Taxes (which shall be covered to the extent, but only to the extent, provided for in Section 20.2), (7) without limiting immediately preceding clause (6), any Claim in respect of any real estate mortgage investment conduit (REMIC)-related or grantor trust-related excise, income or other taxes, or (8) any Claim for losses to the extent based on the inability to invest in another transaction or use for any other purpose the funds invested in connection with the transactions contemplated hereby. Lessee shall be entitled to credit against any payments due under this Section 20.1 any insurance recoveries or other reimbursements actually received by any Indemnitee in respect of the related Claim under or from insurance paid for by Lessee or assigned to Lessor by Lessee.
32
33
34
35
Lessee shall not consolidate with or merge into any other Person where Lessee is not the surviving Person, or sell, convey, transfer or lease all or substantially all its assets, unless the successor Person formed by such consolidation or into which Lessee shall be merged or the Person that shall acquire by sale, conveyance, transfer or lease all or substantially all the assets of Lessee shall assume in writing all of the obligations of Lessee hereunder and as of the effective date of such consolidation, merger, sale, conveyance, transfer or lease, no Event of Default arising from a failure to pay Base Net Rent or Supplemental Rent, and no other material Event of Default, shall have occurred and be continuing. Upon any such consolidation or merger, or any sale, conveyance, transfer or lease of substantially all the assets of Lessee in accordance with this Article XXI, the successor Person formed by such consolidation or into which Lessee shall be merged or to which such sale, conveyance, transfer or lease shall be made shall succeed to, and be substituted for, and may exercise every right and power of, Lessee under this Lease.
During any period when Lessee is not listed on a nationally recognized public stock exchange with certified financial statements on file with the Securities and Exchange Commission, Lessee shall, within thirty (30) days after requested by Lessor from time to time (but not more often than quarterly), deliver to Lessor Lessees most recent financial statements in the form used by Lessee in the normal course of its business and prepared in accordance with generally accepted accounting principles (including, to the extent such items are available, balance sheets and income and loss
36
statements for Lessees most recent full and partial fiscal year preceding such request), certified to be complete and accurate in all material respects by Lessees chief financial officer (or his or her authorized delegate) together with (for Lessees annual year-end financial statements) an audit letter of an independent certified public accountant.
37
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39
40
41
42
43
44
45
46
If to Lessor: |
|
c/o CRIC ASSET MANAGEMENT LLC |
One Exeter Plaza, 11 th Floor |
Boston, Massachusetts 02116 |
Tel.: 617-303-4400 |
Fax: 617-303-4440 |
|
with a copy to: |
|
Duane Morris LLP |
380 Lexington Avenue |
New York, New York 10168 |
Attention: Stewart J. Stern, Esq. |
Tel.: 212-692-1070 |
Fax: 212-692-1020 |
|
If to Lessee: |
|
CA, Inc. |
One CA Plaza |
Islandia, New York 11749 |
Attention: Lease Administration |
Fax: (631) 342-6872 |
|
With a copy to: |
|
CA, Inc. |
One CA Plaza |
Islandia, New York 11749 |
Attention: Legal Real Estate Notice |
Fax: (631) 342-4866 |
47
From time to time any party may designate a new address for purposes of notice hereunder by notice to the other party hereto.
48
49
50
51
52
[SIGNATURES APPEAR ON THE FOLLOWING PAGE]
53
IN WITNESS WHEREOF, Lessee and Lessor have executed this Lease as of the date first above written.
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LESSEE: |
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CA, INC., a Delaware corporation |
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By: |
/s/ Bryan Urquhart |
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Bryan Urquhart |
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SVP- Finance and Administration |
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LESSOR: |
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ISLANDIA OPERATORS LLC, a Delaware |
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limited liability company |
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By: |
/s/ Francesco Piovanetti |
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Francesco Piovanetti |
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Vice President |
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ISLAND HEADQUARTERS OPERATORS |
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LLC, a Delaware limited liability company |
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By: |
/s/ Francesco Piovanetti |
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Francesco Piovanetti |
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Vice President |
54
APPENDIX A
In this Lease, unless the context otherwise requires:
Affiliate of any Person shall mean any other Person directly or indirectly controlling, controlled by or under common control with, such Person and shall include, if such Person is an individual, members of the Family of such Person and trusts for the benefit of such individual or Family members. Without limiting the foregoing, a limited partnership the limited partners of which are trusts for the benefit of Family members of a Person and the general partners of which are beneficiaries or Family members of the beneficiaries of such trusts or corporations or partnerships owned by any of the foregoing shall be an Affiliate of such trusts.
Alterations shall mean, with respect to the Property, alterations, additions, improvements, modifications and additions to the Property.
Annual Base Net Rent shall have the meaning given in Article III.
Applicable Laws and Restrictions shall mean
(1) all existing and future applicable laws, rules, regulations, statutes, treaties, codes, ordinances, permits, certificates, orders and licenses of and interpretations by, any Governmental Authorities, and applicable judgments, decrees, injunctions, writs, orders or like action of any court, arbitrator or other administrative, judicial or quasi judicial tribunal or agency of competent jurisdiction (including Environmental Laws and other laws pertaining to health, safety or the environment and those pertaining to the construction, use or occupancy of the Property);
(2) the requirements of all easements, covenants, conditions and restrictions which now or (provided Lessee and Lessor consent thereto) hereafter affect or encumber the Property; and
(3) the requirements of public liability, fire and other policies of insurance at any time in force with respect to the Property which are purchased by Lessee at such time as Lessee is not self-insuring.
Appraisal Procedure shall mean the following procedure using standard appraisal practices, for determining Fair Market Rental Value or any other amount which may, pursuant to any provision of this Lease, be determined by the Appraisal Procedure: the parties shall first attempt jointly to select a qualified MAI to make such determination. If such joint selection is not agreed upon in writing within ten (10) Business Days after the request of either party to do so, then each party shall select one qualified MAI, provided that if either party shall fail to choose an MAI within ten (10) Business Days after notice from the other party of the selection of its MAI, then the appraisal by such appointed MAI shall be binding on the parties. If the two MAIs cannot agree within twenty (20) days after both shall have been appointed, then a third MAI shall be selected by the two MAIs or, failing agreement as to such third MAI within thirty (30) days after both shall have been appointed, by the American Arbitration Association. The decisions of the three MAIs shall be given within twenty (20) days of the appointment of the third MAI and the decision of the MAI most different from the average of the other two shall be discarded and such average shall be binding on the
2
parties; provided that if the highest appraisal and the lowest appraisal are equidistant from the third appraisal, the third appraisal shall be binding on the parties. The fees and expenses of all MAIs shall be split among Lessor and Lessee.
Arbitration Procedure shall mean arbitration in the County of Suffolk, New York in accordance with the following provisions, and shall be employed only in those instances in which this Lease expressly so provides elsewhere in this Lease. Within ten (10) Business Days next following the giving of any notice by a party to the other stating that it wishes the dispute between the parties to be so determined, Lessor and Lessee shall each give notice to each other setting forth the name and address of an arbitrator designated by the party giving notice. If either party shall fail to give notice of such designation within said ten (10) Business Days, then the arbitrator chosen by the other side shall make the determination alone. The two arbitrators shall designate a third arbitrator. If the two arbitrators shall fail to agree upon the designation of a third arbitrator within five (5) Business Days after the designation of the second arbitrator, then either party may apply to any court having jurisdiction, requesting the designation of such arbitrator. All arbitrators shall be persons who shall have had at least ten (10) years experience arbitrating or mediating disputes relating to New York office leases or who shall otherwise be approved by the parties, and shall not be financially or contractually related to Lessor or Lessee (or any Mortgagee) at the time of appointment or at any time within the preceding ten (10) years. The three arbitrators shall conduct such hearings as they deem appropriate, making their determination in writing and give notice to Lessor and Lessee; the concurrence of any two of said arbitrators shall be binding upon Lessor and Lessee. The arbitrators shall be bound by the provisions of this Lease, and shall not add to, subtract from or otherwise modify such provisions. The determination in any such arbitration shall be final and binding upon Lessor and Lessee and enforceable in any court of competent jurisdiction. Each party shall pay its own counsel fees and expenses, if any, in connection with any arbitration hereunder, including the expenses and fees of any arbitrator selected by it in accordance with provisions hereof, and the parties shall share all other expenses and fees of any such arbitration, provided that the foregoing shall not prohibit the arbitrators from determining that the prevailing party shall be entitled to recover all costs and expenses from the non-prevailing party to the extent permitted by this Lease.
Authorized Officer shall mean with respect to Lessor if Lessor is not an individual, any officer of Lessor, any trustee of Lessor (if a trust) or any general partner, manager or joint venturer of Lessor (if a partnership, limited liability company or joint venture) who shall be duly authorized to execute this Lease.
Bankruptcy Code shall mean Title 11 of the United States Code.
Base Net Rent shall mean, for the Initial Term, the rent payable pursuant to Section 3.1 and, for any Renewal Term, the rent payable pursuant to Article V.
Board of Directors , with respect to a corporation, shall mean either the Board of Directors or any duly authorized committee of that Board which pursuant to the by laws of such corporation has the same authority as that Board as to the matter at issue.
3
Buildings shall mean the Main Buildings and any other structures now or hereafter existing during the Term.
Business Day shall mean any day other than (i) a Saturday or a Sunday, (ii) a day on which commercial banks in the City of New York, State of New York are authorized or obligated by law, government decree or executive order to be closed or (iii) a day observed as a holiday by the State of New York or the Federal government.
Casualty shall mean a fire, casualty or other (actual or constructive) loss affecting all or any portion of the Property.
Claims shall mean liabilities, obligations, damages, losses, demands, penalties, fines, claims, actions, suits, judgments, settlements, costs, expenses and disbursements (including reasonable, actually incurred legal fees and expenses and costs of investigation) of any kind and nature whatsoever.
Code shall mean the Internal Revenue Code of 1986.
CA Competitor shall mean a Person (or an Affiliate of a Person) that engages primarily in the development and/or licensing of computer software applications.
Condemnation shall mean any condemnation, requisition or other taking or sale of the use, occupancy or title to the Property or any part thereof in, by or on account of any eminent domain proceeding or other action by any Governmental Authority or other Person under the power of eminent domain or otherwise (including by reason of the application of Applicable Laws and Regulations or any transfer in lieu of or in anticipation thereof.
Consumer Price Index shall mean the Consumer Price Index published by the Bureau of Labor Statistics of the United States Department of Labor for Urban Consumers for the N.Y.-Northern N.J.-Long Island, NY-NJ-CT area in the table entitled Consumer Price Index-Cities, or any successor index thereto, All-Item Figures (1982-84=100) for the month and year in question. In the event that the Consumer Price Index is converted to a different standard reference base or otherwise revised, the determination to be made pursuant to any provision of this Lease shall be made with the use of such conversion factor, formula or table for converting the Consumer Price Index as may be published by the Bureau of Labor Statistics or, if not so published, then with the use of such conversion factor, formula or table for converting the Consumer Price Index as may be published by the Bureau of Labor Statistics or, if no so published, then with the use of such conversion factor, formula or table as may be published by Prentice-Hall, Inc. or any other nationally recognized publisher of similar statistical information, or if a conversion factor, formula or table is unavailable, Lessor or Lessee shall agree on another method to adjust the Consumer Price Index, or any successor thereto, to the figure that would have been arrived at had the manner of computing the Consumer Price Index in effect on the date of this Lease not been altered..
Control (including the correlative meanings of the terms controlling , controlled by and under common control with ), as used with respect to any Person,
4
shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management policies of such Person, whether through the ownership of voting securities or by contract or otherwise, provided (but without limiting the foregoing) that no pledge of voting securities of any Person without the current right to exercise voting rights with respect thereto shall by itself be deemed to constitute control over such Person.
Covenants and Obligations of Lessor shall have the meaning as specified in Section 23.3(b)(ii).
Covered Taxes means, collectively, real estate, ad valorem taxes or other taxes in the nature of property taxes, sales taxes, gross receipts taxes, business license taxes, use taxes and similar taxes (including rent taxes, intangible taxes and excise taxes) and charges and assessments on the Property (including all charges and assessments for public improvements or benefits for the Property or the area in which they are located, whether or not such improvements are commenced or completed within the Term), including all fines, interest and penalties thereon (except as provided in Section 20.2(b)), which at any time prior to, during or with respect to the Term may be levied, assessed or imposed by any federal, state or local authority or any other Person upon or with respect to (a) the Property or any part thereof; (b) the construction, leasing, subleasing, assignment, control, condition, occupancy, servicing, maintenance, repair, activity conducted on, delivery, insuring, use, operation or improvement of the Property or any part thereof by Lessee; or (c) the Rent. Nothing contained in this Lease, however, shall be construed to require Lessee to pay, assume liability for, or indemnify, protect, defend or hold harmless with respect to, and the term Covered Taxes shall not mean or include: (i) any income or franchise tax, or taxes on doing business, taxes on the privilege to do business, capital or net worth taxes, capital stock taxes, license or mercantile license or similar taxes based on or measured by net income or taxes in lieu thereof imposed by the United States or by a state, county or city in which Lessor is doing business or in which the Property is located, unless such tax is imposed upon Lessor or the rents or income from the Property in substitution for any of the items included above in this definition of Covered Taxes , in which case this tax shall be calculated for this purpose as if the Property for which such tax is imposed was the only property of Lessor and as if the income therefrom was the only income of Lessor; or (ii) any transfer tax or other similar tax imposed with respect to the sale, exchange or other disposition of the Property or any interest therein by Lessor or the proceeds thereof.
Current LIPA Area shall mean the areas shown on Schedule 25.11(b) as CA TO GRANT TITLE TO LIPA.
deemed refund or credit shall have the meaning as specified in Section 20.2(d).
Deposit shall have the meaning as specified in section 23.4(c)(v).
Disbursing Agent shall have the meaning specified in Section 14.4(b)(i).
5
Dollar or $ shall mean the lawful currency of the United States of America.
Due Diligence Procedures shall have the meaning as specified in Section 23.4(c)(iii).
Effective Date shall mean August 15, 2006.
Election Period shall have the meaning as specified in Section 23.4(c)(v).
Environmental Laws shall mean and include the Resource Conservation and Recovery Act of 1976, (RCRA) 42 U.S.C. §§ 6901 6987, as amended by the Hazardous and Solid Waste Amendments of 1984, the Comprehensive Environmental Response, Compensation and Liability Act, as amended by the Superfund Amendments and Reauthorization Act of 1986, 42 U.S.C. §§ 9601 9657, (CERCLA), the Hazardous Materials Transportation Act of 1975, 49 U.S.C. §§ 1801 1812, the Toxic Substances Control Act, 15 U.S.C. §§ 2601 2671, the Clean Air Act, 42 U.S.C. §§ 7401 et seq., the Federal Insecticide, Fungicide and Rodenticide Act, 7 U.S.C. §§ 136 et seq. and all similar federal, state and local environmental laws, ordinances, rules, orders, statutes, decrees, judgments, injunctions, codes and regulations, and any other federal, state or local laws, ordinances, rules, codes and regulations relating to the environment, human health or natural resources or the regulation or control of or imposing liability or standards of conduct concerning Hazardous Materials or the investigation, clean up or other remediation of the Property, as any of the foregoing are from time to time amended, supplemented or supplanted.
Estate for Years shall mean an estate for years in the Property, granted pursuant to deed by Lessee to Island Headquarters Operators LLC, dated as of the Effective Date, commencing on the Effective Date and expiring on the day immediately prededing the twenty seventh (27th) anniversary of the Effective Date, unless sooner terminated by operation of law or otherwise (the Estate for Years Expiration Date ).
Estate for Years Expiration Date shall have the meaning given such term in the definition of Estate for Years.
ERISA shall mean the Employee Retirement Income Security Act of 1974.
Event of Default shall have the meaning given in Section 19.1.
Event of Loss shall mean.
(1) a Casualty where it is reasonably likely to take longer than one (1) year from the Casualty to restore the Property to substantially the same dimensions and utility as existed immediately prior to the Casualty, or where, as a result of Applicable Laws and Regulations, the Property cannot be restored to substantially the same dimensions and utility as existed immediately prior to the Casualty;
6
(2) a Condemnation of 50% or more of the usable square footage of office space in the Improvements;
(3) a Condemnation of a portion of the Property such that the remaining portion thereof is uneconomic or impractical for Lessees continued use (including any instance in which a material number of parking spaces are eliminated), or
(4) a Condemnation whereby Applicable Laws and Restrictions prohibit occupancy or use.
Exercise Notice shall have the meaning as specified in Section 23.4(c)(v).
Fair Market Rental Value shall have the meaning as specified in Section 5.4(a).
Filing shall have the meaning as specified in Section 20.2(h).
Family shall mean, as to any Person, such Persons grandparents, all lineal descendants of such Persons grandparents, Persons adopted by, or stepchildren of, any such grandparent or descendant and Persons currently married to, or who are widows or widowers of, any such grandparent, descendant, adoptee or stepchild.
Final Payment Date shall have the meaning as specified in Section 19.2(c).
First Renewal Term shall have the meaning specified in Section 5.1.
Former LIPA Area shall mean the areas shown on Schedule 25.11(b) as LIPA TO GRANT TITLE TO CA.
Governmental Authority shall mean any federal, state, county, municipal or other governmental or regulatory authority, agency, board, body, commission, instrumentality, court or quasi governmental authority.
Hazardous Material shall mean any substance, waste or material which is tox ic (including Toxic Mold, except that Lessees remediation obligations in respect of Toxic Mold shall be as set forth in the last sentence of Section 11.1 ), explosive, corrosive, flammable, infectious, radioactive, carcinogenic, mutagenic or otherwise hazardous, including petroleum, its derivatives, by products and other hydrocarbons and friable asbestos and is or becomes regulated by any Governmental Authority, including any agency, department, commission, board or instrumentality of the United States, the State of New York or any political subdivision thereof.
Improvements shall mean the Buildings and all fixtures attached to or located in, or in the future located in, on or under the Buildings and other structures situated on the Land, now or hereafter located on the Land, including the roads, parking lots and structures, access ways, sidewalks, recreational areas, vehicle control facilities,
7
landscaping, utility and service systems used or procured for use in connection with the operation and maintenance of the Property and Conveyed Equipment, excepting, however, any Retained Fixtures and all tangible and intangible personal property, including all intellectual property whether owned or leased by Lessee or third parties, all software object and source code, all trade fixtures, furniture and furnishings (including computers, servers, inventory and tools) and, unless specified as included within the Conveyed Equipment, all equipment in any way related to the use, occupancy, repair or maintenance of the Property or any component thereof.
Initial Term shall mean the period commencing on the Effective Date and ending at 11:59 p.m. on the day immediately preceding the fifteenth (15th) anniversary of the Effective Date.
Land shall mean the land described in Exhibit A .
Lessee shall mean CA, Inc., a Delaware corporation.
Lessee Purchaser shall have the meaning as specified in Section 23.4(c)(v).
Lessees Broker shall have the meaning as specified in Article XVII.
Lessor shall mean collectively, the Owner of the Estate for Years and Remainderman.
Lessor Liens shall mean Liens on or against the Property or this Lease or any payment of Rent (a) which result from any act of, or any Claim against, Lessor, any owner of a direct or indirect interest in Lessor or any trustee of Lessor, unrelated to its interest in the Property, or which result from any violation by Lessor of any of the terms of this Lease not caused by a default of Lessee under this Lease or (b) which result from Liens in favor of any taxing authority by reason of any Tax owed by Lessor, any owner of a direct or indirect interest in Lessor or any trustee of Lessor, except that Lessor Liens shall not include any Lien resulting from any Covered Tax until such time as Lessee shall have already paid to Lessor such Covered Tax or (c) which result from any amounts owed by Lessor but which are not indemnifiable by Lessee pursuant to this Lease. For the avoidance of doubt, any Mortgage is a Lessor Lien.
Lessors Interests shall mean (1) the Estate for Years and the Owner of the Estate for Years other rights and interests in and to the Property and this Lease, and (2) the Remainder Interest and the Remaindermans other rights and interests in and to the Property and this Lease, as applicable.
Lessor Nondisturbance Agreement has the meaning given such term in Section 16.3.
Lien shall mean any lien, mortgage, deed of trust, encumbrance, pledge, charge, security interest of any kind (including any thereof arising under any conditional sale or other title retention agreement) lease, easement, servitude, right of others or other
8
matters of any sort affecting the title or current or future rights to ownership, possession or use.
LIPA shall mean the Long Island Power Authority, and its successors and assigns.
MAI shall mean a certified member of The Appraisal Institute or any successor organization, who shall have at least ten years experience in appraising commercial properties in the tri-state (Connecticut, New York and New Jersey) area, and a disinterested third party unrelated to Lessor (and Mortgagee) and Lessee.
Main Buildings are the following buildings on the Property, each of which is shown on Exhibit B : (1) the six-story central office tower (the Central Tower ), (2) the two-story atrium building (the Atrium Building ), (3) the two-story annex (the Annex ) and (4) solely for purposes of Article IX, the two (2) three-story parking garages.
Mezzanine Financing shall have the meaning given such term in Section 23.3(d).
Minimum Rating shall mean, with respect to a specified Person, that the senior, long-term unsecured debt of such Person is rated BBB- (or higher) by Standard & Poors Ratings Group and Ba1 (or higher) by Moodys Investors Service, Inc (or their respective successors).
Mortgage shall mean a mortgage lien on Lessors interest in the Property and in this Lease to secure Lessors borrowed indebtedness.
Mortgagee shall mean the holder of a Mortgage from time to time.
Mortgagee Nondisturbance Agreement has the meaning given such term in Section 24.1.
Multi-Asseted Owner shall mean a Person whose net economic interest in the Property and this Lease represents not more than ten percent (10%) of the net assets of such Person.
Multi-Asset Person shall have the meaning as specified in Section 23.3(e)(i).
Net Casualty Proceeds shall mean the compensation and/or insurance payments net of the expenses of collecting such amounts received by Lessor or Lessee in respect of the Property by reason or on account of a Casualty (but excluding any business interruption payments).
Net Condemnation Proceeds shall mean any award or compensation net of the expenses of collecting such amounts received by Lessor or Lessee in respect of the Property by reason or on account of a Condemnation.
9
Net Proceeds shall mean Net Casualty Proceeds and Net Condemnation Proceeds.
Nonseverable shall describe an Alteration or part of an Alteration which cannot be readily removed from the Property without causing damage (other than that of a de minimis nature) to the Property.
Non-U.S. Person means a person who is not a U.S. person, as defined in Regulation S.
Notice of Alterations shall have the meaning specified in Section 9.5(b).
Notice of Objection shall have the meaning specified in Section 9.5(b).
Offer terms shall have the meaning as specified in Section 23.4(c)(i).
Officers Certificate of a Person means a certificate signed by the Chairman of the Board or the President or any Executive Vice President or any Senior Vice President or any other Vice President of such Person signing with the Treasurer or any Assistant Treasurer or the Controller or any Assistant Controller or the Secretary or any Assistant Secretary of the such Person, or by any Vice President who is also Controller or Treasurer signing alone.
Owner of the Estate for Years shall mean Island Headquarters Operators LLC, a Delaware limited liability company, and its successors and assigns as the holder of the Estate for Years, provided the foregoing shall not be deemed Lessees consent to any assignment, succession or other transfer of any sort whatsoever not otherwise permitted under this Lease.
Permitted Investments shall mean (i) obligations of the United States of America, or fully guaranteed as to interest and principal by the United States of America, maturing in not more than six months from the date such investment is made, (ii) certificates of deposit having a final maturity of not more than thirty (30) days after the date of issuance thereof of any commercial bank incorporated under the laws of the United States of America or any state thereof or the District of Columbia which bank is a member of the Federal Reserve System and has a combined capital and surplus of not less than $100,000,000 and with a senior unsecured debt credit rating of at least A by the Rating Agencies, (iii) commercial paper, rated A 1 or its equivalent (or better) by the Rating Agencies and having a remaining term until maturity of not more than ninety (90) days from the date such investment is made and (iv) investments in shares of a money market fund or investment fund the assets of which consist only of the types of investments described in (i) above and which fund is rated at least AAAm or AAAm-G by the Rating Agencies.
Permitted Liens shall mean:
(a) Lessor Liens,
10
(b) Liens for Taxes either not yet due or being contested in compliance with Section 10.1,
(c) materialmens, mechanics, workers, repairmens, employees or other like Liens on Lessees interest in the Property for amounts either not yet due or being contested in compliance with Section 10.1,
(d) Liens arising out of judgments or awards with respect to which at the time an appeal or proceeding for review is being prosecuted in good faith and either which have been bonded or for the payment of which adequate reserves shall have been taken,
(e) easements, rights of way, reservations, servitudes and rights of others against the Property which are (x) listed on Schedule B to the Title Policy or otherwise included as Property Documents under the Purchase and Sale Agreement or (y) granted pursuant to Section 25.11, and
(f) assignments, leases and subleases and other Liens expressly permitted by this Lease or otherwise consented by Lessor.
Person shall mean individual, corporation, partnership, limited liability company, joint venture, association, joint stock company, trust, nonincorporated organization or government or any agency or political subdivision thereof.
Property shall mean (i) the Land, (ii) the Buildings and other Improvements, and (iii) all of the appurtenances, easements, restrictions, and rights of way relating to the foregoing, subject to the Permitted Liens. In addition, Property shall be subject to modification in the manner contemplated in Section 25.11(b).
Proposed Sale Notice shall have the meaning as specified in Section 23.4(c)(i).
Pump Station Area shall mean the areas shown on Schedule 25.11(b) as CA TO GRANT TITLE TO SUFFOLK COUNTY.
Purchase and Sale Agreement shall mean the Purchase and Sale Agreement, dated as of the Effective Date, between CA, Inc., as seller, and the Lessor named herein, as purchaser.
Purchase Price shall have the meaning as specified in Section 23.4(c)(i).
Qualified Depositary shall have the meaning as specified in Section 19.20.
Recognition Agreement means that certain Recognition Agreement, dated as of the Effective Date, between Remainderman and Lessee, to be recorded in the land records of the Property.
11
Related Party Transfer shall have the meaning given such term in Section 23.3(d).
Remainderman shall mean Islandia Operators LLC, a Delaware limited liability company, and its successors and assigns as the holder of the Remainder Interest, provided the foregoing shall not be deemed Lessees consent to any assignment, succession or other transfer of any sort whatsoever not otherwise permitted under this Lease.
Remainder Interest shall mean the entire fee estate in the Property other than the Estate for Years, granted pursuant to deed by Lessee to Islandia Operators LLC, dated as of the Effective Date, the possessory estate under which will commence without further action immediately upon the Estate for Years Expiration Date (subject to this Lease and other Permitted Liens).
Remaining Parcel shall have the meaning given such term in Section 25.11(c).
Remedial Work shall have the meaning specified in Section 11.2.
Remedy Exercise shall have the meaning as specified in Section 23.4(b)(iii).
Remedy Exercising Party shall have the meaning as specified in Section 23.4(b)(iii).
Removal Cost shall have the meaning specified in Section 9.5(b).
Renewal Option Exercise Cut-off Date shall have the meaning set forth in Section 5.2.
Renewal Term shall have the meaning specified in Section 5.1.
Renewal Term Rent Determination Request shall have the meaning specified in Section 5.4(b).
Rent shall mean Base Net Rent and Supplemental Rent, collectively.
Rent Payment Dates shall have the meaning specified in Section 3.1(c).
Replacement Parts shall have the meaning specified in Section 9.2.
Retained Fixtures shall have the meaning given such term in the Purchase and Sale Agreement.
Second Renewal Term shall have the meaning specified in Section 5.1.
Special-Purpose Covenants shall have the meaning given such term in Section 23.2.
12
Stipulated Rate shall have the meaning given such term in Section 3.4.
Subject Sale shall have the meaning as specified in Section 23.3(d)(ii).
Sublease shall have the meaning given in such term in Section 16.1,
Supplemental Rent shall mean any and all amounts, liabilities and obligations other than Base Net Rent which Lessee is obligated to pay under this Lease (whether or not designated as Supplemental Rent) to Lessor or any other party, including all Covered Taxes for which Lessee is responsible under the Lease, premiums for all policies of insurance required hereunder, and all utilities, water and sewer rents and similar charges to the extent attributable to the Term.
Taxes shall mean any and all present or future liabilities, losses, expenses and costs of any kind whatsoever that are fees (including license fees, documentation fees and registration fees), taxes (including property, ad valorem, real estate, income, gross or net income, gross or net receipts, sales, use, value added, franchise, business, transfer, capital property (tangible and intangible), municipal assessments, excise and stamp taxes and sewer and water rents), levies, imposts, duties, charges, assessments or withholdings, together with any penalties, fines or interest thereon or addition thereto (any of the foregoing being referred to herein individually as a Tax ).
Taxing Authority shall have the meaning as specified in Section 20.3(a).
Term shall mean the Initial Term and any Renewal Terms as to which Lessee exercises a renewal option pursuant to Section 5.1 or such shorter period as may result from earlier termination of this Lease as provided herein.
Third Renewal Term shall have the meaning specified in Section 5.1.
Title Insurance Company shall mean Chicago Title Insurance Company.
Title Policy shall mean the title insurance policy issued by the Title Insurance Company to Lessor on the Effective Date.
Toxic Mold shall mean any toxic mold or fungus of a type that may pose a risk to human health or the environment or would negatively impact the value of the Leased Property.
TRIA shall mean the federal Terrorism Risk Insurance Extension Act of 2005.
UCC shall mean the Uniform Commercial Code of New York.
Verifier shall have the meaning as specified in Section 20.2(f).
13
Schedule 3.1
Base Net Rent for the Initial Term
|
|
|
|
|
|
Payment Amount |
|
||
|
|
Months |
|
Lease |
|
Monthly |
|
Annualized |
|
Date |
|
Elapsed |
|
Year |
|
Base Rent |
|
Base Rent |
|
8/15/2006 |
|
0 |
|
|
|
673,712.67 |
|
|
|
9/1/2006 |
|
1 |
|
1 |
|
1,263,211.25 |
|
15,158,535.00 |
|
10/1/2006 |
|
2 |
|
1 |
|
1,263,211.25 |
|
15,158,535.00 |
|
11/1/2006 |
|
3 |
|
1 |
|
1,263,211.25 |
|
15,158,535.00 |
|
12/1/2006 |
|
4 |
|
1 |
|
1,263,211.25 |
|
15,158,535.00 |
|
1/1/2007 |
|
5 |
|
1 |
|
1,263,211.25 |
|
15,158,535.00 |
|
2/1/2007 |
|
6 |
|
1 |
|
1,263,211.25 |
|
15,158,535.00 |
|
3/1/2007 |
|
7 |
|
1 |
|
1,263,211.25 |
|
15,158,535.00 |
|
4/1/2007 |
|
8 |
|
1 |
|
1,263,211.25 |
|
15,158,535.00 |
|
5/1/2007 |
|
9 |
|
1 |
|
1,263,211.25 |
|
15,158,535.00 |
|
6/1/2007 |
|
10 |
|
1 |
|
1,263,211.25 |
|
15,158,535.00 |
|
7/1/2007 |
|
11 |
|
1 |
|
1,263,211.25 |
|
15,158,535.00 |
|
8/1/2007 |
|
12 |
|
1 |
|
1,263,211.25 |
|
15,158,535.00 |
|
9/1/2007 |
|
13 |
|
2 |
|
1,273,064.30 |
|
15,276,771.57 |
|
10/1/2007 |
|
14 |
|
2 |
|
1,273,064.30 |
|
15,276,771.57 |
|
11/1/2007 |
|
15 |
|
2 |
|
1,273,064.30 |
|
15,276,771.57 |
|
12/1/2007 |
|
16 |
|
2 |
|
1,273,064.30 |
|
15,276,771.57 |
|
1/1/2008 |
|
17 |
|
2 |
|
1,273,064.30 |
|
15,276,771.57 |
|
2/1/2008 |
|
18 |
|
2 |
|
1,273,064.30 |
|
15,276,771.57 |
|
3/1/2008 |
|
19 |
|
2 |
|
1,273,064.30 |
|
15,276,771.57 |
|
4/1/2008 |
|
20 |
|
2 |
|
1,273,064.30 |
|
15,276,771.57 |
|
5/1/2008 |
|
21 |
|
2 |
|
1,273,064.30 |
|
15,276,771.57 |
|
6/1/2008 |
|
22 |
|
2 |
|
1,273,064.30 |
|
15,276,771.57 |
|
7/1/2008 |
|
23 |
|
2 |
|
1,273,064.30 |
|
15,276,771.57 |
|
8/1/2008 |
|
24 |
|
2 |
|
1,273,064.30 |
|
15,276,771.57 |
|
9/1/2008 |
|
25 |
|
3 |
|
1,282,994.20 |
|
15,395,930.39 |
|
10/1/2008 |
|
26 |
|
3 |
|
1,282,994.20 |
|
15,395,930.39 |
|
11/1/2008 |
|
27 |
|
3 |
|
1,282,994.20 |
|
15,395,930.39 |
|
12/1/2008 |
|
28 |
|
3 |
|
1,282,994.20 |
|
15,395,930.39 |
|
1/1/2009 |
|
29 |
|
3 |
|
1,282,994.20 |
|
15,395,930.39 |
|
2/1/2009 |
|
30 |
|
3 |
|
1,282,994.20 |
|
15,395,930.39 |
|
3/1/2009 |
|
31 |
|
3 |
|
1,282,994.20 |
|
15,395,930.39 |
|
4/1/2009 |
|
32 |
|
3 |
|
1,282,994.20 |
|
15,395,930.39 |
|
5/1/2009 |
|
33 |
|
3 |
|
1,282,994.20 |
|
15,395,930.39 |
|
6/1/2009 |
|
34 |
|
3 |
|
1,282,994.20 |
|
15,395,930.39 |
|
7/1/2009 |
|
35 |
|
3 |
|
1,282,994.20 |
|
15,395,930.39 |
|
8/1/2009 |
|
36 |
|
3 |
|
1,282,994.20 |
|
15,395,930.39 |
|
9/1/2009 |
|
37 |
|
4 |
|
1,293,001.55 |
|
15,516,018.65 |
|
10/1/2009 |
|
38 |
|
4 |
|
1,293,001.55 |
|
15,516,018.65 |
|
11/1/2009 |
|
39 |
|
4 |
|
1,293,001.55 |
|
15,516,018.65 |
|
12/1/2009 |
|
40 |
|
4 |
|
1,293,001.55 |
|
15,516,018.65 |
|
1/1/2010 |
|
41 |
|
4 |
|
1,293,001.55 |
|
15,516,018.65 |
|
2/1/2010 |
|
42 |
|
4 |
|
1,293,001.55 |
|
15,516,018.65 |
|
3/1/2010 |
|
43 |
|
4 |
|
1,293,001.55 |
|
15,516,018.65 |
|
4/1/2010 |
|
44 |
|
4 |
|
1,293,001.55 |
|
15,516,018.65 |
|
5/1/2010 |
|
45 |
|
4 |
|
1,293,001.55 |
|
15,516,018.65 |
|
6/1/2010 |
|
46 |
|
4 |
|
1,293,001.55 |
|
15,516,018.65 |
|
7/1/2010 |
|
47 |
|
4 |
|
1,293,001.55 |
|
15,516,018.65 |
|
14
8/1/2010 |
|
48 |
|
4 |
|
1,293,001.55 |
|
15,516,018.65 |
|
9/1/2010 |
|
49 |
|
5 |
|
1,303,086.97 |
|
15,637,043.59 |
|
10/1/2010 |
|
50 |
|
5 |
|
1,303,086.97 |
|
15,637,043.59 |
|
11/1/2010 |
|
51 |
|
5 |
|
1,303,086.97 |
|
15,637,043.59 |
|
12/1/2010 |
|
52 |
|
5 |
|
1,303,086.97 |
|
15,637,043.59 |
|
1/1/2011 |
|
53 |
|
5 |
|
1,303,086.97 |
|
15,637,043.59 |
|
2/1/2011 |
|
54 |
|
5 |
|
1,303,086.97 |
|
15,637,043.59 |
|
3/1/2011 |
|
55 |
|
5 |
|
1,303,086.97 |
|
15,637,043.59 |
|
4/1/2011 |
|
56 |
|
5 |
|
1,303,086.97 |
|
15,637,043.59 |
|
5/1/2011 |
|
57 |
|
5 |
|
1,303,086.97 |
|
15,637,043.59 |
|
6/1/2011 |
|
58 |
|
5 |
|
1,303,086.97 |
|
15,637,043.59 |
|
7/1/2011 |
|
59 |
|
5 |
|
1,303,086.97 |
|
15,637,043.59 |
|
8/1/2011 |
|
60 |
|
5 |
|
1,303,086.97 |
|
15,637,043.59 |
|
9/1/2011 |
|
61 |
|
6 |
|
1,313,251.04 |
|
15,759,012.53 |
|
10/1/2011 |
|
62 |
|
6 |
|
1,313,251.04 |
|
15,759,012.53 |
|
11/1/2011 |
|
63 |
|
6 |
|
1,313,251.04 |
|
15,759,012.53 |
|
12/1/2011 |
|
64 |
|
6 |
|
1,313,251.04 |
|
15,759,012.53 |
|
1/1/2012 |
|
65 |
|
6 |
|
1,313,251.04 |
|
15,759,012.53 |
|
2/1/2012 |
|
66 |
|
6 |
|
1,313,251.04 |
|
15,759,012.53 |
|
3/1/2012 |
|
67 |
|
6 |
|
1,313,251.04 |
|
15,759,012.53 |
|
4/1/2012 |
|
68 |
|
6 |
|
1,313,251.04 |
|
15,759,012.53 |
|
5/1/2012 |
|
69 |
|
6 |
|
1,313,251.04 |
|
15,759,012.53 |
|
6/1/2012 |
|
70 |
|
6 |
|
1,313,251.04 |
|
15,759,012.53 |
|
7/1/2012 |
|
71 |
|
6 |
|
1,313,251.04 |
|
15,759,012.53 |
|
8/1/2012 |
|
72 |
|
6 |
|
1,313,251.04 |
|
15,759,012.53 |
|
9/1/2012 |
|
73 |
|
7 |
|
1,323,494.40 |
|
15,881,932.83 |
|
10/1/2012 |
|
74 |
|
7 |
|
1,323,494.40 |
|
15,881,932.83 |
|
11/1/2012 |
|
75 |
|
7 |
|
1,323,494.40 |
|
15,881,932.83 |
|
12/1/2012 |
|
76 |
|
7 |
|
1,323,494.40 |
|
15,881,932.83 |
|
1/1/2013 |
|
77 |
|
7 |
|
1,323,494.40 |
|
15,881,932.83 |
|
2/1/2013 |
|
78 |
|
7 |
|
1,323,494.40 |
|
15,881,932.83 |
|
3/1/2013 |
|
79 |
|
7 |
|
1,323,494.40 |
|
15,881,932.83 |
|
4/1/2013 |
|
80 |
|
7 |
|
1,323,494.40 |
|
15,881,932.83 |
|
5/1/2013 |
|
81 |
|
7 |
|
1,323,494.40 |
|
15,881,932.83 |
|
6/1/2013 |
|
82 |
|
7 |
|
1,323,494.40 |
|
15,881,932.83 |
|
7/1/2013 |
|
83 |
|
7 |
|
1,323,494.40 |
|
15,881,932.83 |
|
8/1/2013 |
|
84 |
|
7 |
|
1,323,494.40 |
|
15,881,932.83 |
|
9/1/2013 |
|
85 |
|
8 |
|
1,333,817.66 |
|
16,005,811.91 |
|
10/1/2013 |
|
86 |
|
8 |
|
1,333,817.66 |
|
16,005,811.91 |
|
11/1/2013 |
|
87 |
|
8 |
|
1,333,817.66 |
|
16,005,811.91 |
|
12/1/2013 |
|
88 |
|
8 |
|
1,333,817.66 |
|
16,005,811.91 |
|
1/1/2014 |
|
89 |
|
8 |
|
1,333,817.66 |
|
16,005,811.91 |
|
2/1/2014 |
|
90 |
|
8 |
|
1,333,817.66 |
|
16,005,811.91 |
|
3/1/2014 |
|
91 |
|
8 |
|
1,333,817.66 |
|
16,005,811.91 |
|
4/1/2014 |
|
92 |
|
8 |
|
1,333,817.66 |
|
16,005,811.91 |
|
5/1/2014 |
|
93 |
|
8 |
|
1,333,817.66 |
|
16,005,811.91 |
|
6/1/2014 |
|
94 |
|
8 |
|
1,333,817.66 |
|
16,005,811.91 |
|
7/1/2014 |
|
95 |
|
8 |
|
1,333,817.66 |
|
16,005,811.91 |
|
8/1/2014 |
|
96 |
|
8 |
|
1,333,817.66 |
|
16,005,811.91 |
|
9/1/2014 |
|
97 |
|
9 |
|
1,344,221.44 |
|
16,130,657.24 |
|
10/1/2014 |
|
98 |
|
9 |
|
1,344,221.44 |
|
16,130,657.24 |
|
11/1/2014 |
|
99 |
|
9 |
|
1,344,221.44 |
|
16,130,657.24 |
|
12/1/2014 |
|
100 |
|
9 |
|
1,344,221.44 |
|
16,130,657.24 |
|
1/1/2015 |
|
101 |
|
9 |
|
1,344,221.44 |
|
16,130,657.24 |
|
2/1/2015 |
|
102 |
|
9 |
|
1,344,221.44 |
|
16,130,657.24 |
|
3/1/2015 |
|
103 |
|
9 |
|
1,344,221.44 |
|
16,130,657.24 |
|
4/1/2015 |
|
104 |
|
9 |
|
1,344,221.44 |
|
16,130,657.24 |
|
5/1/2015 |
|
105 |
|
9 |
|
1,344,221.44 |
|
16,130,657.24 |
|
15
6/1/2015 |
|
106 |
|
9 |
|
1,344,221.44 |
|
16,130,657.24 |
|
7/1/2015 |
|
107 |
|
9 |
|
1,344,221.44 |
|
16,130,657.24 |
|
8/1/2015 |
|
108 |
|
9 |
|
1,344,221.44 |
|
16,130,657.24 |
|
9/1/2015 |
|
109 |
|
10 |
|
1,354,706.36 |
|
16,256,476.37 |
|
10/1/2015 |
|
110 |
|
10 |
|
1,354,706.36 |
|
16,256,476.37 |
|
11/1/2015 |
|
111 |
|
10 |
|
1,354,706.36 |
|
16,256,476.37 |
|
12/1/2015 |
|
112 |
|
10 |
|
1,354,706.36 |
|
16,256,476.37 |
|
1/1/2016 |
|
113 |
|
10 |
|
1,354,706.36 |
|
16,256,476.37 |
|
2/1/2016 |
|
114 |
|
10 |
|
1,354,706.36 |
|
16,256,476.37 |
|
3/1/2016 |
|
115 |
|
10 |
|
1,354,706.36 |
|
16,256,476.37 |
|
4/1/2016 |
|
116 |
|
10 |
|
1,354,706.36 |
|
16,256,476.37 |
|
5/1/2016 |
|
117 |
|
10 |
|
1,354,706.36 |
|
16,256,476.37 |
|
6/1/2016 |
|
118 |
|
10 |
|
1,354,706.36 |
|
16,256,476.37 |
|
7/1/2016 |
|
119 |
|
10 |
|
1,354,706.36 |
|
16,256,476.37 |
|
8/1/2016 |
|
120 |
|
10 |
|
1,354,706.36 |
|
16,256,476.37 |
|
9/1/2016 |
|
121 |
|
11 |
|
1,354,706.36 |
|
16,256,476.37 |
|
10/1/2016 |
|
122 |
|
11 |
|
1,354,706.36 |
|
16,256,476.37 |
|
11/1/2016 |
|
123 |
|
11 |
|
1,354,706.36 |
|
16,256,476.37 |
|
12/1/2016 |
|
124 |
|
11 |
|
1,354,706.36 |
|
16,256,476.37 |
|
1/1/2017 |
|
125 |
|
11 |
|
1,354,706.36 |
|
16,256,476.37 |
|
2/1/2017 |
|
126 |
|
11 |
|
1,354,706.36 |
|
16,256,476.37 |
|
3/1/2017 |
|
127 |
|
11 |
|
1,354,706.36 |
|
16,256,476.37 |
|
4/1/2017 |
|
128 |
|
11 |
|
1,354,706.36 |
|
16,256,476.37 |
|
5/1/2017 |
|
129 |
|
11 |
|
1,354,706.36 |
|
16,256,476.37 |
|
6/1/2017 |
|
130 |
|
11 |
|
1,354,706.36 |
|
16,256,476.37 |
|
7/1/2017 |
|
131 |
|
11 |
|
1,354,706.36 |
|
16,256,476.37 |
|
8/1/2017 |
|
132 |
|
11 |
|
1,354,706.36 |
|
16,256,476.37 |
|
9/1/2017 |
|
133 |
|
12 |
|
1,354,706.36 |
|
16,256,476.37 |
|
10/1/2017 |
|
134 |
|
12 |
|
1,354,706.36 |
|
16,256,476.37 |
|
11/1/2017 |
|
135 |
|
12 |
|
1,354,706.36 |
|
16,256,476.37 |
|
12/1/2017 |
|
136 |
|
12 |
|
1,354,706.36 |
|
16,256,476.37 |
|
1/1/2018 |
|
137 |
|
12 |
|
1,354,706.36 |
|
16,256,476.37 |
|
2/1/2018 |
|
138 |
|
12 |
|
1,354,706.36 |
|
16,256,476.37 |
|
3/1/2018 |
|
139 |
|
12 |
|
1,354,706.36 |
|
16,256,476.37 |
|
4/1/2018 |
|
140 |
|
12 |
|
1,354,706.36 |
|
16,256,476.37 |
|
5/1/2018 |
|
141 |
|
12 |
|
1,354,706.36 |
|
16,256,476.37 |
|
6/1/2018 |
|
142 |
|
12 |
|
1,354,706.36 |
|
16,256,476.37 |
|
7/1/2018 |
|
143 |
|
12 |
|
1,354,706.36 |
|
16,256,476.37 |
|
8/1/2018 |
|
144 |
|
12 |
|
1,354,706.36 |
|
16,256,476.37 |
|
9/1/2018 |
|
145 |
|
13 |
|
1,354,706.36 |
|
16,256,476.37 |
|
10/1/2018 |
|
146 |
|
13 |
|
1,354,706.36 |
|
16,256,476.37 |
|
11/1/2018 |
|
147 |
|
13 |
|
1,354,706.36 |
|
16,256,476.37 |
|
12/1/2018 |
|
148 |
|
13 |
|
1,354,706.36 |
|
16,256,476.37 |
|
1/1/2019 |
|
149 |
|
13 |
|
1,354,706.36 |
|
16,256,476.37 |
|
2/1/2019 |
|
150 |
|
13 |
|
1,354,706.36 |
|
16,256,476.37 |
|
3/1/2019 |
|
151 |
|
13 |
|
1,354,706.36 |
|
16,256,476.37 |
|
4/1/2019 |
|
152 |
|
13 |
|
1,354,706.36 |
|
16,256,476.37 |
|
5/1/2019 |
|
153 |
|
13 |
|
1,354,706.36 |
|
16,256,476.37 |
|
6/1/2019 |
|
154 |
|
13 |
|
1,354,706.36 |
|
16,256,476.37 |
|
7/1/2019 |
|
155 |
|
13 |
|
1,354,706.36 |
|
16,256,476.37 |
|
8/1/2019 |
|
156 |
|
13 |
|
1,354,706.36 |
|
16,256,476.37 |
|
9/1/2019 |
|
157 |
|
14 |
|
1,354,706.36 |
|
16,256,476.37 |
|
10/1/2019 |
|
158 |
|
14 |
|
1,354,706.36 |
|
16,256,476.37 |
|
11/1/2019 |
|
159 |
|
14 |
|
1,354,706.36 |
|
16,256,476.37 |
|
12/1/2019 |
|
160 |
|
14 |
|
1,354,706.36 |
|
16,256,476.37 |
|
1/1/2020 |
|
161 |
|
14 |
|
1,354,706.36 |
|
16,256,476.37 |
|
2/1/2020 |
|
162 |
|
14 |
|
1,354,706.36 |
|
16,256,476.37 |
|
3/1/2020 |
|
163 |
|
14 |
|
1,354,706.36 |
|
16,256,476.37 |
|
16
4/1/2020 |
|
164 |
|
14 |
|
1,354,706.36 |
|
16,256,476.37 |
|
5/1/2020 |
|
165 |
|
14 |
|
1,354,706.36 |
|
16,256,476.37 |
|
6/1/2020 |
|
166 |
|
14 |
|
1,354,706.36 |
|
16,256,476.37 |
|
7/1/2020 |
|
167 |
|
14 |
|
1,354,706.36 |
|
16,256,476.37 |
|
8/1/2020 |
|
168 |
|
14 |
|
1,354,706.36 |
|
16,256,476.37 |
|
9/1/2020 |
|
169 |
|
15 |
|
1,354,706.36 |
|
16,256,476.37 |
|
10/1/2020 |
|
170 |
|
15 |
|
1,354,706.36 |
|
16,256,476.37 |
|
11/1/2020 |
|
171 |
|
15 |
|
1,354,706.36 |
|
16,256,476.37 |
|
12/1/2020 |
|
172 |
|
15 |
|
1,354,706.36 |
|
16,256,476.37 |
|
1/1/2021 |
|
173 |
|
15 |
|
1,354,706.36 |
|
16,256,476.37 |
|
2/1/2021 |
|
174 |
|
15 |
|
1,354,706.36 |
|
16,256,476.37 |
|
3/1/2021 |
|
175 |
|
15 |
|
1,354,706.36 |
|
16,256,476.37 |
|
4/1/2021 |
|
176 |
|
15 |
|
1,354,706.36 |
|
16,256,476.37 |
|
5/1/2021 |
|
177 |
|
15 |
|
1,354,706.36 |
|
16,256,476.37 |
|
6/1/2021 |
|
178 |
|
15 |
|
1,354,706.36 |
|
16,256,476.37 |
|
7/1/2021 |
|
179 |
|
15 |
|
1,354,706.36 |
|
16,256,476.37 |
|
8/1/2021 |
|
180 |
|
15 |
|
1,354,706.36 |
|
16,256,476.37 |
|
|
|
|
|
|
|
|
|
|
|
17
Schedule 5.3-A
Base Net Rent for the
First Renewal Term assuming renewal on or prior to 10
th
anniversary of the Effective Date
|
|
|
|
|
|
Payment Amount |
|
||
Payment |
|
Full Months |
|
Lease |
|
Montly |
|
Annual |
|
Date |
|
Elapsed |
|
Year |
|
Rent |
|
Rent |
|
9/1/2021 |
|
181 |
|
16 |
|
1,364,866.66 |
|
16,378,399.94 |
|
10/1/2021 |
|
182 |
|
16 |
|
1,364,866.66 |
|
16,378,399.94 |
|
11/1/2021 |
|
183 |
|
16 |
|
1,364,866.66 |
|
16,378,399.94 |
|
12/1/2021 |
|
184 |
|
16 |
|
1,364,866.66 |
|
16,378,399.94 |
|
1/1/2022 |
|
185 |
|
16 |
|
1,364,866.66 |
|
16,378,399.94 |
|
2/1/2022 |
|
186 |
|
16 |
|
1,364,866.66 |
|
16,378,399.94 |
|
3/1/2022 |
|
187 |
|
16 |
|
1,364,866.66 |
|
16,378,399.94 |
|
4/1/2022 |
|
188 |
|
16 |
|
1,364,866.66 |
|
16,378,399.94 |
|
5/1/2022 |
|
189 |
|
16 |
|
1,364,866.66 |
|
16,378,399.94 |
|
6/1/2022 |
|
190 |
|
16 |
|
1,364,866.66 |
|
16,378,399.94 |
|
7/1/2022 |
|
191 |
|
16 |
|
1,364,866.66 |
|
16,378,399.94 |
|
8/1/2022 |
|
192 |
|
16 |
|
1,364,866.66 |
|
16,378,399.94 |
|
9/1/2022 |
|
193 |
|
17 |
|
1,375,103.16 |
|
16,501,237.94 |
|
10/1/2022 |
|
194 |
|
17 |
|
1,375,103.16 |
|
16,501,237.94 |
|
11/1/2022 |
|
195 |
|
17 |
|
1,375,103.16 |
|
16,501,237.94 |
|
12/1/2022 |
|
196 |
|
17 |
|
1,375,103.16 |
|
16,501,237.94 |
|
1/1/2023 |
|
197 |
|
17 |
|
1,375,103.16 |
|
16,501,237.94 |
|
2/1/2023 |
|
198 |
|
17 |
|
1,375,103.16 |
|
16,501,237.94 |
|
3/1/2023 |
|
199 |
|
17 |
|
1,375,103.16 |
|
16,501,237.94 |
|
4/1/2023 |
|
200 |
|
17 |
|
1,375,103.16 |
|
16,501,237.94 |
|
5/1/2023 |
|
201 |
|
17 |
|
1,375,103.16 |
|
16,501,237.94 |
|
6/1/2023 |
|
202 |
|
17 |
|
1,375,103.16 |
|
16,501,237.94 |
|
7/1/2023 |
|
203 |
|
17 |
|
1,375,103.16 |
|
16,501,237.94 |
|
8/1/2023 |
|
204 |
|
17 |
|
1,375,103.16 |
|
16,501,237.94 |
|
9/1/2023 |
|
205 |
|
18 |
|
1,385,416.44 |
|
16,624,997.22 |
|
10/1/2023 |
|
206 |
|
18 |
|
1,385,416.44 |
|
16,624,997.22 |
|
11/1/2023 |
|
207 |
|
18 |
|
1,385,416.44 |
|
16,624,997.22 |
|
12/1/2023 |
|
208 |
|
18 |
|
1,385,416.44 |
|
16,624,997.22 |
|
1/1/2024 |
|
209 |
|
18 |
|
1,385,416.44 |
|
16,624,997.22 |
|
2/1/2024 |
|
210 |
|
18 |
|
1,385,416.44 |
|
16,624,997.22 |
|
3/1/2024 |
|
211 |
|
18 |
|
1,385,416.44 |
|
16,624,997.22 |
|
4/1/2024 |
|
212 |
|
18 |
|
1,385,416.44 |
|
16,624,997.22 |
|
5/1/2024 |
|
213 |
|
18 |
|
1,385,416.44 |
|
16,624,997.22 |
|
6/1/2024 |
|
214 |
|
18 |
|
1,385,416.44 |
|
16,624,997.22 |
|
7/1/2024 |
|
215 |
|
18 |
|
1,385,416.44 |
|
16,624,997.22 |
|
8/1/2024 |
|
216 |
|
18 |
|
1,385,416.44 |
|
16,624,997.22 |
|
9/1/2024 |
|
217 |
|
19 |
|
1,395,807.06 |
|
16,749,684.70 |
|
10/1/2024 |
|
218 |
|
19 |
|
1,395,807.06 |
|
16,749,684.70 |
|
11/1/2024 |
|
219 |
|
19 |
|
1,395,807.06 |
|
16,749,684.70 |
|
12/1/2024 |
|
220 |
|
19 |
|
1,395,807.06 |
|
16,749,684.70 |
|
1/1/2025 |
|
221 |
|
19 |
|
1,395,807.06 |
|
16,749,684.70 |
|
2/1/2025 |
|
222 |
|
19 |
|
1,395,807.06 |
|
16,749,684.70 |
|
3/1/2025 |
|
223 |
|
19 |
|
1,395,807.06 |
|
16,749,684.70 |
|
4/1/2025 |
|
224 |
|
19 |
|
1,395,807.06 |
|
16,749,684.70 |
|
5/1/2025 |
|
225 |
|
19 |
|
1,395,807.06 |
|
16,749,684.70 |
|
6/1/2025 |
|
226 |
|
19 |
|
1,395,807.06 |
|
16,749,684.70 |
|
7/1/2025 |
|
227 |
|
19 |
|
1,395,807.06 |
|
16,749,684.70 |
|
18
8/1/2025 |
|
228 |
|
19 |
|
1,395,807.06 |
|
16,749,684.70 |
|
9/1/2025 |
|
229 |
|
20 |
|
1,406,275.61 |
|
16,875,307.34 |
|
10/1/2025 |
|
230 |
|
20 |
|
1,406,275.61 |
|
16,875,307.34 |
|
11/1/2025 |
|
231 |
|
20 |
|
1,406,275.61 |
|
16,875,307.34 |
|
12/1/2025 |
|
232 |
|
20 |
|
1,406,275.61 |
|
16,875,307.34 |
|
1/1/2026 |
|
233 |
|
20 |
|
1,406,275.61 |
|
16,875,307.34 |
|
2/1/2026 |
|
234 |
|
20 |
|
1,406,275.61 |
|
16,875,307.34 |
|
3/1/2026 |
|
235 |
|
20 |
|
1,406,275.61 |
|
16,875,307.34 |
|
4/1/2026 |
|
236 |
|
20 |
|
1,406,275.61 |
|
16,875,307.34 |
|
5/1/2026 |
|
237 |
|
20 |
|
1,406,275.61 |
|
16,875,307.34 |
|
6/1/2026 |
|
238 |
|
20 |
|
1,406,275.61 |
|
16,875,307.34 |
|
7/1/2026 |
|
239 |
|
20 |
|
1,406,275.61 |
|
16,875,307.34 |
|
8/1/2026 |
|
240 |
|
20 |
|
1,406,275.61 |
|
16,875,307.34 |
|
9/1/2026 |
|
241 |
|
21 |
|
1,416,822.68 |
|
17,001,872.14 |
|
10/1/2026 |
|
242 |
|
21 |
|
1,416,822.68 |
|
17,001,872.14 |
|
11/1/2026 |
|
243 |
|
21 |
|
1,416,822.68 |
|
17,001,872.14 |
|
12/1/2026 |
|
244 |
|
21 |
|
1,416,822.68 |
|
17,001,872.14 |
|
1/1/2027 |
|
245 |
|
21 |
|
1,416,822.68 |
|
17,001,872.14 |
|
2/1/2027 |
|
246 |
|
21 |
|
1,416,822.68 |
|
17,001,872.14 |
|
3/1/2027 |
|
247 |
|
21 |
|
1,416,822.68 |
|
17,001,872.14 |
|
4/1/2027 |
|
248 |
|
21 |
|
1,416,822.68 |
|
17,001,872.14 |
|
5/1/2027 |
|
249 |
|
21 |
|
1,416,822.68 |
|
17,001,872.14 |
|
6/1/2027 |
|
250 |
|
21 |
|
1,416,822.68 |
|
17,001,872.14 |
|
7/1/2027 |
|
251 |
|
21 |
|
1,416,822.68 |
|
17,001,872.14 |
|
8/1/2027 |
|
252 |
|
21 |
|
1,416,822.68 |
|
17,001,872.14 |
|
9/1/2027 |
|
253 |
|
22 |
|
1,427,448.85 |
|
17,129,386.18 |
|
10/1/2027 |
|
254 |
|
22 |
|
1,427,448.85 |
|
17,129,386.18 |
|
11/1/2027 |
|
255 |
|
22 |
|
1,427,448.85 |
|
17,129,386.18 |
|
12/1/2027 |
|
256 |
|
22 |
|
1,427,448.85 |
|
17,129,386.18 |
|
1/1/2028 |
|
257 |
|
22 |
|
1,427,448.85 |
|
17,129,386.18 |
|
2/1/2028 |
|
258 |
|
22 |
|
1,427,448.85 |
|
17,129,386.18 |
|
3/1/2028 |
|
259 |
|
22 |
|
1,427,448.85 |
|
17,129,386.18 |
|
4/1/2028 |
|
260 |
|
22 |
|
1,427,448.85 |
|
17,129,386.18 |
|
5/1/2028 |
|
261 |
|
22 |
|
1,427,448.85 |
|
17,129,386.18 |
|
6/1/2028 |
|
262 |
|
22 |
|
1,427,448.85 |
|
17,129,386.18 |
|
7/1/2028 |
|
263 |
|
22 |
|
1,427,448.85 |
|
17,129,386.18 |
|
8/1/2028 |
|
264 |
|
22 |
|
1,427,448.85 |
|
17,129,386.18 |
|
9/1/2028 |
|
265 |
|
23 |
|
1,438,154.72 |
|
17,257,856.58 |
|
10/1/2028 |
|
266 |
|
23 |
|
1,438,154.72 |
|
17,257,856.58 |
|
11/1/2028 |
|
267 |
|
23 |
|
1,438,154.72 |
|
17,257,856.58 |
|
12/1/2028 |
|
268 |
|
23 |
|
1,438,154.72 |
|
17,257,856.58 |
|
1/1/2029 |
|
269 |
|
23 |
|
1,438,154.72 |
|
17,257,856.58 |
|
2/1/2029 |
|
270 |
|
23 |
|
1,438,154.72 |
|
17,257,856.58 |
|
3/1/2029 |
|
271 |
|
23 |
|
1,438,154.72 |
|
17,257,856.58 |
|
4/1/2029 |
|
272 |
|
23 |
|
1,438,154.72 |
|
17,257,856.58 |
|
5/1/2029 |
|
273 |
|
23 |
|
1,438,154.72 |
|
17,257,856.58 |
|
6/1/2029 |
|
274 |
|
23 |
|
1,438,154.72 |
|
17,257,856.58 |
|
19
7/1/2029 |
|
275 |
|
23 |
|
1,438,154.72 |
|
17,257,856.58 |
|
8/1/2029 |
|
276 |
|
23 |
|
1,438,154.72 |
|
17,257,856.58 |
|
9/1/2029 |
|
277 |
|
24 |
|
1,448,940.88 |
|
17,387,290.51 |
|
10/1/2029 |
|
278 |
|
24 |
|
1,448,940.88 |
|
17,387,290.51 |
|
11/1/2029 |
|
279 |
|
24 |
|
1,448,940.88 |
|
17,387,290.51 |
|
12/1/2029 |
|
280 |
|
24 |
|
1,448,940.88 |
|
17,387,290.51 |
|
1/1/2030 |
|
281 |
|
24 |
|
1,448,940.88 |
|
17,387,290.51 |
|
2/1/2030 |
|
282 |
|
24 |
|
1,448,940.88 |
|
17,387,290.51 |
|
3/1/2030 |
|
283 |
|
24 |
|
1,448,940.88 |
|
17,387,290.51 |
|
4/1/2030 |
|
284 |
|
24 |
|
1,448,940.88 |
|
17,387,290.51 |
|
5/1/2030 |
|
285 |
|
24 |
|
1,448,940.88 |
|
17,387,290.51 |
|
6/1/2030 |
|
286 |
|
24 |
|
1,448,940.88 |
|
17,387,290.51 |
|
7/1/2030 |
|
287 |
|
24 |
|
1,448,940.88 |
|
17,387,290.51 |
|
8/1/2030 |
|
288 |
|
24 |
|
1,448,940.88 |
|
17,387,290.51 |
|
9/1/2030 |
|
289 |
|
25 |
|
1,459,807.93 |
|
17,517,695.18 |
|
10/1/2030 |
|
290 |
|
25 |
|
1,459,807.93 |
|
17,517,695.18 |
|
11/1/2030 |
|
291 |
|
25 |
|
1,459,807.93 |
|
17,517,695.18 |
|
12/1/2030 |
|
292 |
|
25 |
|
1,459,807.93 |
|
17,517,695.18 |
|
1/1/2031 |
|
293 |
|
25 |
|
1,459,807.93 |
|
17,517,695.18 |
|
2/1/2031 |
|
294 |
|
25 |
|
1,459,807.93 |
|
17,517,695.18 |
|
3/1/2031 |
|
295 |
|
25 |
|
1,459,807.93 |
|
17,517,695.18 |
|
4/1/2031 |
|
296 |
|
25 |
|
1,459,807.93 |
|
17,517,695.18 |
|
5/1/2031 |
|
297 |
|
25 |
|
1,459,807.93 |
|
17,517,695.18 |
|
6/1/2031 |
|
298 |
|
25 |
|
1,459,807.93 |
|
17,517,695.18 |
|
7/1/2031 |
|
299 |
|
25 |
|
1,459,807.93 |
|
17,517,695.18 |
|
8/1/2031 |
|
300 |
|
25 |
|
1,459,807.93 |
|
17,517,695.18 |
|
20
Schedule 5.3-B
Base Net Rent for the
First Renewal Term assuming renewal subsequent to 10
th
anniversary of the Effective Date
|
|
|
|
|
|
Payment Amount |
|
||
Payment |
|
Full Months |
|
Lease |
|
Montly |
|
Annual |
|
Date |
|
Elapsed |
|
Year |
|
Rent |
|
Rent |
|
9/1/2021 |
|
181 |
|
16 |
|
1,354,706.36 |
|
16,256,476.37 |
|
10/1/2021 |
|
182 |
|
16 |
|
1,354,706.36 |
|
16,256,476.37 |
|
11/1/2021 |
|
183 |
|
16 |
|
1,354,706.36 |
|
16,256,476.37 |
|
12/1/2021 |
|
184 |
|
16 |
|
1,354,706.36 |
|
16,256,476.37 |
|
1/1/2022 |
|
185 |
|
16 |
|
1,354,706.36 |
|
16,256,476.37 |
|
2/1/2022 |
|
186 |
|
16 |
|
1,354,706.36 |
|
16,256,476.37 |
|
3/1/2022 |
|
187 |
|
16 |
|
1,354,706.36 |
|
16,256,476.37 |
|
4/1/2022 |
|
188 |
|
16 |
|
1,354,706.36 |
|
16,256,476.37 |
|
5/1/2022 |
|
189 |
|
16 |
|
1,354,706.36 |
|
16,256,476.37 |
|
6/1/2022 |
|
190 |
|
16 |
|
1,354,706.36 |
|
16,256,476.37 |
|
7/1/2022 |
|
191 |
|
16 |
|
1,354,706.36 |
|
16,256,476.37 |
|
8/1/2022 |
|
192 |
|
16 |
|
1,354,706.36 |
|
16,256,476.37 |
|
9/1/2022 |
|
193 |
|
17 |
|
1,354,706.36 |
|
16,256,476.37 |
|
10/1/2022 |
|
194 |
|
17 |
|
1,354,706.36 |
|
16,256,476.37 |
|
11/1/2022 |
|
195 |
|
17 |
|
1,354,706.36 |
|
16,256,476.37 |
|
12/1/2022 |
|
196 |
|
17 |
|
1,354,706.36 |
|
16,256,476.37 |
|
1/1/2023 |
|
197 |
|
17 |
|
1,354,706.36 |
|
16,256,476.37 |
|
2/1/2023 |
|
198 |
|
17 |
|
1,354,706.36 |
|
16,256,476.37 |
|
3/1/2023 |
|
199 |
|
17 |
|
1,354,706.36 |
|
16,256,476.37 |
|
4/1/2023 |
|
200 |
|
17 |
|
1,354,706.36 |
|
16,256,476.37 |
|
5/1/2023 |
|
201 |
|
17 |
|
1,354,706.36 |
|
16,256,476.37 |
|
6/1/2023 |
|
202 |
|
17 |
|
1,354,706.36 |
|
16,256,476.37 |
|
7/1/2023 |
|
203 |
|
17 |
|
1,354,706.36 |
|
16,256,476.37 |
|
8/1/2023 |
|
204 |
|
17 |
|
1,354,706.36 |
|
16,256,476.37 |
|
9/1/2023 |
|
205 |
|
18 |
|
1,354,706.36 |
|
16,256,476.37 |
|
10/1/2023 |
|
206 |
|
18 |
|
1,354,706.36 |
|
16,256,476.37 |
|
11/1/2023 |
|
207 |
|
18 |
|
1,354,706.36 |
|
16,256,476.37 |
|
12/1/2023 |
|
208 |
|
18 |
|
1,354,706.36 |
|
16,256,476.37 |
|
1/1/2024 |
|
209 |
|
18 |
|
1,354,706.36 |
|
16,256,476.37 |
|
2/1/2024 |
|
210 |
|
18 |
|
1,354,706.36 |
|
16,256,476.37 |
|
3/1/2024 |
|
211 |
|
18 |
|
1,354,706.36 |
|
16,256,476.37 |
|
4/1/2024 |
|
212 |
|
18 |
|
1,354,706.36 |
|
16,256,476.37 |
|
5/1/2024 |
|
213 |
|
18 |
|
1,354,706.36 |
|
16,256,476.37 |
|
6/1/2024 |
|
214 |
|
18 |
|
1,354,706.36 |
|
16,256,476.37 |
|
7/1/2024 |
|
215 |
|
18 |
|
1,354,706.36 |
|
16,256,476.37 |
|
8/1/2024 |
|
216 |
|
18 |
|
1,354,706.36 |
|
16,256,476.37 |
|
9/1/2024 |
|
217 |
|
19 |
|
1,354,706.36 |
|
16,256,476.37 |
|
10/1/2024 |
|
218 |
|
19 |
|
1,354,706.36 |
|
16,256,476.37 |
|
11/1/2024 |
|
219 |
|
19 |
|
1,354,706.36 |
|
16,256,476.37 |
|
12/1/2024 |
|
220 |
|
19 |
|
1,354,706.36 |
|
16,256,476.37 |
|
1/1/2025 |
|
221 |
|
19 |
|
1,354,706.36 |
|
16,256,476.37 |
|
2/1/2025 |
|
222 |
|
19 |
|
1,354,706.36 |
|
16,256,476.37 |
|
3/1/2025 |
|
223 |
|
19 |
|
1,354,706.36 |
|
16,256,476.37 |
|
4/1/2025 |
|
224 |
|
19 |
|
1,354,706.36 |
|
16,256,476.37 |
|
5/1/2025 |
|
225 |
|
19 |
|
1,354,706.36 |
|
16,256,476.37 |
|
6/1/2025 |
|
226 |
|
19 |
|
1,354,706.36 |
|
16,256,476.37 |
|
7/1/2025 |
|
227 |
|
19 |
|
1,354,706.36 |
|
16,256,476.37 |
|
|
|
|
|
|
|
Payment Amount |
|
|
|
Payment |
|
Full Months |
|
Lease |
|
Montly |
|
Annual |
|
Date |
|
Elapsed |
|
Year |
|
Rent |
|
Rent |
|
8/1/2025 |
|
228 |
|
19 |
|
1,354,706.36 |
|
16,256,476.37 |
|
9/1/2025 |
|
229 |
|
20 |
|
1,354,706.36 |
|
16,256,476.37 |
|
10/1/2025 |
|
230 |
|
20 |
|
1,354,706.36 |
|
16,256,476.37 |
|
11/1/2025 |
|
231 |
|
20 |
|
1,354,706.36 |
|
16,256,476.37 |
|
12/1/2025 |
|
232 |
|
20 |
|
1,354,706.36 |
|
16,256,476.37 |
|
1/1/2026 |
|
233 |
|
20 |
|
1,354,706.36 |
|
16,256,476.37 |
|
2/1/2026 |
|
234 |
|
20 |
|
1,354,706.36 |
|
16,256,476.37 |
|
3/1/2026 |
|
235 |
|
20 |
|
1,354,706.36 |
|
16,256,476.37 |
|
4/1/2026 |
|
236 |
|
20 |
|
1,354,706.36 |
|
16,256,476.37 |
|
5/1/2026 |
|
237 |
|
20 |
|
1,354,706.36 |
|
16,256,476.37 |
|
6/1/2026 |
|
238 |
|
20 |
|
1,354,706.36 |
|
16,256,476.37 |
|
7/1/2026 |
|
239 |
|
20 |
|
1,354,706.36 |
|
16,256,476.37 |
|
8/1/2026 |
|
240 |
|
20 |
|
1,354,706.36 |
|
16,256,476.37 |
|
9/1/2026 |
|
241 |
|
21 |
|
1,364,866.66 |
|
16,378,399.94 |
|
10/1/2026 |
|
242 |
|
21 |
|
1,364,866.66 |
|
16,378,399.94 |
|
11/1/2026 |
|
243 |
|
21 |
|
1,364,866.66 |
|
16,378,399.94 |
|
12/1/2026 |
|
244 |
|
21 |
|
1,364,866.66 |
|
16,378,399.94 |
|
1/1/2027 |
|
245 |
|
21 |
|
1,364,866.66 |
|
16,378,399.94 |
|
2/1/2027 |
|
246 |
|
21 |
|
1,364,866.66 |
|
16,378,399.94 |
|
3/1/2027 |
|
247 |
|
21 |
|
1,364,866.66 |
|
16,378,399.94 |
|
4/1/2027 |
|
248 |
|
21 |
|
1,364,866.66 |
|
16,378,399.94 |
|
5/1/2027 |
|
249 |
|
21 |
|
1,364,866.66 |
|
16,378,399.94 |
|
6/1/2027 |
|
250 |
|
21 |
|
1,364,866.66 |
|
16,378,399.94 |
|
7/1/2027 |
|
251 |
|
21 |
|
1,364,866.66 |
|
16,378,399.94 |
|
8/1/2027 |
|
252 |
|
21 |
|
1,364,866.66 |
|
16,378,399.94 |
|
9/1/2027 |
|
253 |
|
22 |
|
1,375,103.16 |
|
16,501,237.94 |
|
10/1/2027 |
|
254 |
|
22 |
|
1,375,103.16 |
|
16,501,237.94 |
|
11/1/2027 |
|
255 |
|
22 |
|
1,375,103.16 |
|
16,501,237.94 |
|
12/1/2027 |
|
256 |
|
22 |
|
1,375,103.16 |
|
16,501,237.94 |
|
1/1/2028 |
|
257 |
|
22 |
|
1,375,103.16 |
|
16,501,237.94 |
|
2/1/2028 |
|
258 |
|
22 |
|
1,375,103.16 |
|
16,501,237.94 |
|
3/1/2028 |
|
259 |
|
22 |
|
1,375,103.16 |
|
16,501,237.94 |
|
4/1/2028 |
|
260 |
|
22 |
|
1,375,103.16 |
|
16,501,237.94 |
|
5/1/2028 |
|
261 |
|
22 |
|
1,375,103.16 |
|
16,501,237.94 |
|
6/1/2028 |
|
262 |
|
22 |
|
1,375,103.16 |
|
16,501,237.94 |
|
7/1/2028 |
|
263 |
|
22 |
|
1,375,103.16 |
|
16,501,237.94 |
|
8/1/2028 |
|
264 |
|
22 |
|
1,375,103.16 |
|
16,501,237.94 |
|
9/1/2028 |
|
265 |
|
23 |
|
1,385,416.44 |
|
16,624,997.22 |
|
10/1/2028 |
|
266 |
|
23 |
|
1,385,416.44 |
|
16,624,997.22 |
|
11/1/2028 |
|
267 |
|
23 |
|
1,385,416.44 |
|
16,624,997.22 |
|
12/1/2028 |
|
268 |
|
23 |
|
1,385,416.44 |
|
16,624,997.22 |
|
1/1/2029 |
|
269 |
|
23 |
|
1,385,416.44 |
|
16,624,997.22 |
|
2/1/2029 |
|
270 |
|
23 |
|
1,385,416.44 |
|
16,624,997.22 |
|
3/1/2029 |
|
271 |
|
23 |
|
1,385,416.44 |
|
16,624,997.22 |
|
4/1/2029 |
|
272 |
|
23 |
|
1,385,416.44 |
|
16,624,997.22 |
|
5/1/2029 |
|
273 |
|
23 |
|
1,385,416.44 |
|
16,624,997.22 |
|
6/1/2029 |
|
274 |
|
23 |
|
1,385,416.44 |
|
16,624,997.22 |
|
|
|
|
|
|
|
Payment Amount |
|
||
Payment |
|
Full Months |
|
Lease |
|
Montly |
|
Annual |
|
Date |
|
Elapsed |
|
Year |
|
Rent |
|
Rent |
|
7/1/2029 |
|
275 |
|
23 |
|
1,385,416.44 |
|
16,624,997.22 |
|
8/1/2029 |
|
276 |
|
23 |
|
1,385,416.44 |
|
16,624,997.22 |
|
9/1/2029 |
|
277 |
|
24 |
|
1,395,807.06 |
|
16,749,684.70 |
|
10/1/2029 |
|
278 |
|
24 |
|
1,395,807.06 |
|
16,749,684.70 |
|
11/1/2029 |
|
279 |
|
24 |
|
1,395,807.06 |
|
16,749,684.70 |
|
12/1/2029 |
|
280 |
|
24 |
|
1,395,807.06 |
|
16,749,684.70 |
|
1/1/2030 |
|
281 |
|
24 |
|
1,395,807.06 |
|
16,749,684.70 |
|
2/1/2030 |
|
282 |
|
24 |
|
1,395,807.06 |
|
16,749,684.70 |
|
3/1/2030 |
|
283 |
|
24 |
|
1,395,807.06 |
|
16,749,684.70 |
|
4/1/2030 |
|
284 |
|
24 |
|
1,395,807.06 |
|
16,749,684.70 |
|
5/1/2030 |
|
285 |
|
24 |
|
1,395,807.06 |
|
16,749,684.70 |
|
6/1/2030 |
|
286 |
|
24 |
|
1,395,807.06 |
|
16,749,684.70 |
|
7/1/2030 |
|
287 |
|
24 |
|
1,395,807.06 |
|
16,749,684.70 |
|
8/1/2030 |
|
288 |
|
24 |
|
1,395,807.06 |
|
16,749,684.70 |
|
9/1/2030 |
|
289 |
|
25 |
|
1,406,275.61 |
|
16,875,307.34 |
|
10/1/2030 |
|
290 |
|
25 |
|
1,406,275.61 |
|
16,875,307.34 |
|
11/1/2030 |
|
291 |
|
25 |
|
1,406,275.61 |
|
16,875,307.34 |
|
12/1/2030 |
|
292 |
|
25 |
|
1,406,275.61 |
|
16,875,307.34 |
|
1/1/2031 |
|
293 |
|
25 |
|
1,406,275.61 |
|
16,875,307.34 |
|
2/1/2031 |
|
294 |
|
25 |
|
1,406,275.61 |
|
16,875,307.34 |
|
3/1/2031 |
|
295 |
|
25 |
|
1,406,275.61 |
|
16,875,307.34 |
|
4/1/2031 |
|
296 |
|
25 |
|
1,406,275.61 |
|
16,875,307.34 |
|
5/1/2031 |
|
297 |
|
25 |
|
1,406,275.61 |
|
16,875,307.34 |
|
6/1/2031 |
|
298 |
|
25 |
|
1,406,275.61 |
|
16,875,307.34 |
|
7/1/2031 |
|
299 |
|
25 |
|
1,406,275.61 |
|
16,875,307.34 |
|
8/1/2031 |
|
300 |
|
25 |
|
1,406,275.61 |
|
16,875,307.34 |
|
EXHIBIT A
DESCRIPTION OF LAND
[As
executed, the legal description in metes and bounds, but for purposes of this
filing,
|