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EXHIBIT
10.6
FOURTH LEASE
MODIFICATION AND EXTENSION AGREEMENT
Fourth Lease Modification and
Extension Agreement (“Fourth Modification”) dated
October 8, 2007 between ABNER PROPERTIES COMPANY, c/o Williams
U.S.A. Realty Services Inc., 380 Madison Avenue, New York, New York
10017, (hereinafter referred to as “Landlord”) and
ALLOY, INC. (f/k/a Alloy On-Line, Inc.), a Delaware corporation,
having an office at 151 West 26 th Street, New York, New York (hereinafter referred to as
“Tenant”).
W I T N E S S E T H
:
WHEREAS, Landlord and Tenant
entered into that certain lease agreement dated as of
November 2, 1999 (hereinafter, together with any and all
modifications, amendments and extensions thereof, collectively
referred to as the “Lease”) Tenant leased from Landlord
the entire rentable area of the eleventh (11 th ) floor (the “Original
Demised Premises”), as now occupied; portions of the tenth
(10 th
) floor known as 10
th
Floor Rear (the “First
Additional Space”), and 10 th Floor South (the “Second Additional Space”); and
the entire rentable area of the ninth (9 th ) floor (the “Third
Additional Space”), in the building known as 151 West 26
th
Street, New York, New York
(the “Building”) for a term expiring on March 31,
2013; and
WHEREAS, Landlord and Tenant
now desire to amend the Lease to (i) provide for Tenant to
substitute the First Additional Space and Second Additional Space
with the entire rentable area of the twelfth (12 th ) floor (“Substitution
Space”); (ii) extend the term of the Lease with respect
solely to the Substitution Space so that it shall expire on
February 28, 2018 and (iii) otherwise modify the terms of
the Lease as provided below;
NOW, THEREFORE, in
consideration of their mutual covenants herein contained, the
parties hereto mutually covenant and agree as follows:
1. The term of the Lease, with respect
solely to the Substitution Space, is hereby extended for an
additional period of four (4) years and eleven
(11) months so that it shall expire on February 28, 2018
instead of on the date set forth in the Lease for its expiration,
subject, however, to any earlier termination under the terms of the
Lease.
2. Effective as of November 1, 2007
(the “Substitution Space Commencement Date”), Landlord
shall deliver and Tenant shall accept the Substitution Space in its
“as is” condition with no work letter/work allowance
and/or rental concession and/or abatement to be performed or
granted by Landlord, except as provided herein and in Exhibit A
hereof (“Landlord’s Work”), provided, however,
Landlord shall permit Tenant and its representative immediate
access to the Substitution Space fro the purposes of performing the
Initial Work, as hereinafter defined, provided such access does not
interfere with and/or delay the performance or increase the cost of
the Landlord’s Work. Either as of February 28, 2008, or
any earlier date thereto as selected by Tenant, provided that
Tenant gives Landlord at least thirty days’ written notice
thereof, which notice designates the desired surrender date of the
First Additional Space and Second Additional Space
(“Surrender Date”) Tenant shall surrender and Landlord
shall accept possession of the First Additional Space and Second
Additional Space, which premises are to be delivered free of all
liens, claims, damages, occupants and personal property subject to
the applicable provisions in the Lease which apply to the condition
of the demised premises upon expiration of the term.; and
thereupon, the premises demised to Tenant under the Lease shall be
deemed to consist only of the Substitution Space; Original Demised
Premises and Third Additional Space and the leasing thereof shall
be upon all of the terms and conditions contained in the Lease as
modified by this Fourth Modification; and Tenant’s obligation
to pay rent as provided herein shall commence. In connection with
the Landlord’s Work, Tenant agrees, if required, to provide
access to the Substitution Space and will permit Landlord access
thereto for the purposes of Landlord performing the
Landlord’s Work without rent reduction or other concession to
Tenant. Landlord agrees that the Landlord’s Work shall be
conducted, to the extent practicable (but without the necessity of
incurring overtime wages or other additional costs) in such manner
so as to minimize interference with Tenant’s use of the
Substitution Space. Tenant expressly acknowledges that in addition
to all other rent and additional rent charges with respect to the
Original Demised Premises, Substitution Space and Third Additional
Space, Tenant shall also be responsible for all rent and additional
rent charges with respect to the First Additional Space and Second
Additional Space through the Surrender Date. Upon execution and
delivery of this Fourth Modification between the parties hereto
Landlord agrees to promptly commence and diligently perform the
Landlord’s Work.
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