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LEASE EXTENSION AGREEMENT

Extension Agreement

LEASE EXTENSION AGREEMENT | Document Parties: INTER PARFUMS INC | 14TH STREET DEVELOPMENT LLC | NICKEL USA, INC You are currently viewing:
This Extension Agreement involves

INTER PARFUMS INC | 14TH STREET DEVELOPMENT LLC | NICKEL USA, INC

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Title: LEASE EXTENSION AGREEMENT
Date: 8/10/2009
Industry: Personal and Household Prods.     Sector: Consumer/Non-Cyclical

LEASE EXTENSION AGREEMENT, Parties: inter parfums inc , 14th street development llc , nickel usa  inc
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Exhibit 10.137

LEASE EXTENSION AGREEMENT

 

This Lease Extension Agreement is made and entered into on this 8 th day of June, 2009 by and between 14 TH STREET DEVELOPMENT LLC, (hereinafter called “Landlord”) and NICKEL USA, INC. d/b/a/ NICKEL (hereinafter called “Tenant”).

 

WHEREAS, Landlord and Tenant are parties to that Lease Agreement dated March 1, 2001 (the “Lease”) with respect to certain real property designated as Commercial Condominium Unit No. 2 and located at 77-79 Eighth Avenue, New York, N.Y. as more specifically described in the Lease (the “Demised Premises”); and

 

WHEREAS, the present Term of the Lease expires on October 31, 2009; and

 

WHEREAS, Tenant has exercised its option to renew the Lease and parties desire to extend the Lease accordingly;

 

NOW THEREFORE, in consideration of the mutual promises and covenants herein exchanged, Landlord and Tenant hereby agree to extend the Lease as follows:

 

1.           The Term of the Lease shall be renewed for a period of five (5) years (the “Renewal Term”) commencing November 1, 2009 (the Renewal Commencement Date) and expiring October 31, 2014 (the “Expiration Date”) upon the same terms and conditions as provided in the Lease except as the same are amended, modified and changed in this Lease Extension Agreement.

 

2.           During the Renewal Term of the Lease, the term “Fixed Rent” payable by Tenant under the Lease shall mean the following:

 

Year(s)

 

Annually

 

Monthly

 

 

 

 

 

1-3

 

$385,000.00

 

$32,083.33

 

 

 

 

 

4-5

 

$423,500.00

 

$35,291.67

 

3.           Section 19.02(c) and Section 19.02(d) of the Lease are deleted in their entirety and the following provision is substituted:

 

For purposes of the Renewal Term, commencing November 1, 2009 the Tenant’s


 
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