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EXHIBIT 10.57
FIRST AMENDMENT TO LEASE
THIS FIRST AMENDMENT TO LEASE ("Amendment") is made and
entered into as of October 1, 2006 (the "Effective
Date"), between O’HARE PLAZA I LLC, a Delaware
limited liability company ("Landlord"), and PCTEL, INC.,
a Delaware corporation ("Tenant").
Recitals
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Landlord’s predecessor and Tenant entered
into that certain Lease dated July 30, 2002 (the "Lease"),
demising Suite 400 (the "Premises") as depicted therein in the
Building located at 8725 West Higgins Road, Chicago,
Illinois 60631, in the Project commonly known as O’Hare Plaza
I. The Premises consist of approximately 12,624 rentable square
feet ("RSF").
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Tenant desires to expand the Premises, extend the
term of the Lease that expires on August 20, 2007, and
otherwise amend the Lease as provided herein.
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Terms
NOW, THEREFORE, in consideration of the mutual covenants
contained herein and of other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Landlord
and Tenant hereby amend the Lease as follows:
1. Definitions . All capitalized terms not
otherwise defined herein shall have the meaning set forth in the
Lease.
2. Integration of Amendment and Lease. This
Amendment and the Lease shall be deemed to be, for all purposes,
one instrument. In the event of any conflict between the terms and
provisions of this Amendment and the terms and provisions of the
Lease, the terms and provisions of this Amendment shall, in all
instances, control and prevail.
3. Confirmation. The Premises were completed in
accordance with the Workletter attached to the Lease, including
plans and specifications, and Tenant accepted the Premises for
possession as of August 21, 2002.
4. Expansion of Premises. Effective on
January 1, 2007 (the "Expansion Commencement Date"),
the Premises shall be expanded by adding approximately 1,789 RSF in
Suite 820 on the 8th floor of the Building (the
"Expansion Premises"), as depicted on Exhibit A to
this Amendment. The Premises, not including the Expansion Premises,
is sometimes referred to herein as the "Original Premises."
Tenant’s Proportionate Share with respect to the Expansion
Premises shall be 0.378%, and Tenant’s Proportionate Share
with respect to the 14,413 RSF of the entire Premises, as of the
Expansion Commencement Date, shall be 3.043%.
5. Extension of Term of Lease. The
"Lease Expiration Date," for both the Original Premises and
the Expansion Premises, shall be August 31, 2012. The period
from the Expansion Commencement Date through the Lease Expiration
Date is sometimes referred to herein as the "Expansion
Term."
6. Base Rent.
a. Original Premises. Beginning on the Effective Date,
the Base Rent chart found in Section 1.1(f) of the
Lease shall be replaced with the following as to the Original
Premises, and the Base Rent for the Original Premises shall be as
follows:
Notwithstanding the foregoing schedule, Base Rent, on the
Original Premises only, shall be abated for the first five
months following the Effective Date (i.e., October 2006
through February 2007). In addition, Base Rent, on the
Expansion Premises only, shall be abated for the first two
months and for the last three calendar months of the Expansion Term
(i.e., January and February 2007, and June through
August 2012). Such reductions shall occur only if Tenant is
not then in Default under the Lease and/or this Amendment.
The total amount of Base Rent abated pursuant to the previous
paragraph is collectively referred to as the "Abated Rent."
If Landlord, following an uncured monetary Event of Default by
Tenant, terminates this Lease or, without terminating this Lease,
terminates Tenant’s right to possession of some or all of the
Premises, then, in addition to all other rights and remedies
available to Landlord, an amount equal to the total Abated Rent (or
the Abated Rent as to that portion of the Premises for which
Tenant’s right to possession is terminated) multiplied by a
fraction, the numerator of which is the number of months remaining
in the Lease Term and the denominator of which is 63, shall
immediately become due and payable.
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Period
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Base Rent/RSF
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Annual Base Rent
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Monthly Base
Rent
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October 1, 2006 through September 30,
2007
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$
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26.50
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$
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334,536.00
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$
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27,878.00
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October 1, 2007 through September 30,
2008
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$
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27.00
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$
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340,848.00
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$
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28,404.00
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October 1, 2008 through September 30,
2009
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$
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27.50
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$
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347,160.00
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$
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28,930.00
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October 1, 2009 through September 30,
2010
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$
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28.00
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$
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353,472.00
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$
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29,456.00
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October 1, 2010 through September 30,
2011
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$
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28.50
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$
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359,784.00
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$
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29,982.00
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October 1,2011 through August 31,
2012
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$
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29.00
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nla
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$
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30,508.00
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b. Expansion Premises. The Base Rent for
the Expansion Premises shall be as follows:
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Period
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Base Rent/RSF
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Annual Base Rent
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Monthly Base
Rent
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January 1,2007through September 30,
2007
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$
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26.50
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nla
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$
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3,950.71
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October 1, 2007 through September 30,
2008
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$
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27.00
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$
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48,303.00
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$
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4,025.25
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October 1, 2008 through September 30,
2009
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$
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27.50
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$
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49,197.50
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$
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4,099.79
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October 1, 2009 through September 30,
2010
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$
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28.00
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$
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50,092.00
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$
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4,174.33
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October 1,2010 through September 30,
2011
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$
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28.50
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$
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50,986.50
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$
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4,248.88
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October 1,2011 through August 31,
2012
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$
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29.00
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nla
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$
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4,323.42
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7. Operating Costs. Commencing with the Effective
Date and continuing through the Expansion Term, Base Year
shall mean calendar year 2007. Tenant acknowledges and agrees that
Landlord has the right to maintain its records for Operating Costs
on a cash basis, and to include in Operating Costs for each
calendar year those real estate taxes actually paid by Landlord in
that year, regardless of when such taxes were assessed, imposed, or
accrued,. Tenant further confirms that electricity for Tenant
lighting, outlets, and operation of office machines is separately
metered and billed directly to Tenant by Commonwealth Edison.
8. Brokers. Tenant represents to Landlord that
Tenant has not dealt with any broker in connection with this
Amendment other than Landlord’s brok
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