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FIRST AMENDMENT TO LEASE

Lease Agreement

FIRST AMENDMENT TO LEASE | Document Parties: ARUBA NETWORKS, INC. | ARDEN REALTY LIMITED PARTNERSHIP You are currently viewing:
This Lease Agreement involves

ARUBA NETWORKS, INC. | ARDEN REALTY LIMITED PARTNERSHIP

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Title: FIRST AMENDMENT TO LEASE
Date: 10/6/2009
Industry: Communications Services     Sector: Services

FIRST AMENDMENT TO LEASE, Parties: aruba networks  inc. , arden realty limited partnership
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Exhibit 10.15

FIRST AMENDMENT TO LEASE
(1344 Crossman Avenue, Sunnyvale)

     THIS FIRST AMENDMENT TO LEASE (“ First Amendment ”) is made and entered into as of the 12th day of August, 2009, by and between ARDEN REALTY LIMITED PARTNERSHIP, a Maryland limited partnership (“ Landlord ”) and ARUBA NETWORKS, INC., a Delaware corporation (“ Tenant ”).

R E C I T A L S :

     A. Landlord and Tenant entered into that certain Standard Office Lease dated as of November 30, 2007 (the “ Lease ”), whereby Landlord leased to Tenant and Tenant leased from Landlord certain space located in that certain building located and addressed at 1344 Crossman Avenue, Sunnyvale, California (the “ Building ”).

     B. By this First Amendment, Landlord and Tenant desire to extend the Term of the Lease and to otherwise modify the Lease as provided herein.

     C. Unless otherwise defined herein, capitalized terms as used herein shall have the same meanings as given thereto in the Lease.

     NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

A G R E E M E N T :

     1.  The Premises . Landlord and Tenant hereby agree that pursuant to the Lease, Landlord currently leases to Tenant and Tenant currently leases from Landlord the entire Building containing a total of 99,427 rentable square feet (also known as the “ Premises ”).

     2.  Extended Lease Term . The Lease Expiration Date shall be extended such that the Lease shall expire on July 31, 2016 (“ New Expiration Date ”). Tenant shall continue to have an Option to further extend the Term for the entire Premises beyond the New Expiration Date in accordance with, and subject to, Article 31 of the Lease; provided, however, that (i) the Option Term specified in Section 31(a) of the Lease shall be revised to five (5) years, and (ii) in the second line of Section 31(b) of the Lease, the phrase “ninety-five percent (95%) of” shall be inserted after the words “shall be equal to”.

     3.  Monthly Basic Rental . Notwithstanding anything to the contrary in the Lease, commencing as of January 1, 2010 and continuing through the New Expiration Date, Tenant shall pay, in accordance with the provisions of this Section 3 and subject to abatement pursuant to Section 4 below, Monthly Basic Rental for the Premises as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Monthly Basic Rental Per

              Period

 

Monthly Basic Rental

 

Rentable Square Foot

1/1/2010 – 12/31/2010

 

$

104,398.35

 

 

$

1.05

 

1/1/2011 – 12/31/2011

 

$

107,381.16

 

 

$

1.08

 

1/1/2012 – 12/31/2012

 

$

110,363.97

 

 

$

1.11

 

1/1/2013 – 12/31/2013

 

$

114,341.05

 

 

$

1.15

 

1/1/2014 – 12/31/2014

 

$

117,323.86

 

 

$

1.18

 

1/1/2015 – 12/31/2015

 

$

121,300.94

 

 

$

1.22

 

1/1/2016 – 7/31/2016

 

$

124,283.75

 

 

$

1.25

 

 


 

     4.  Rental Abatement . Notwithstanding anything to the contrary contained in the Lease or in this First Amendment, and provided that Tenant faithfully performs all of the terms and conditions of the Lease, as amended by this First Amendment, Landlord hereby agrees to abate Tenant’s obligation to pay Monthly Basic Rental for the following months: February, 2010; May, 2010; August, 2010; November, 2010 and December, 2010. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under the Lease, as amended by this First Amendment including, without limitation, Tenant’s Proportionate Share of Direct Costs. In the event of a default by Tenant under the terms of the Lease, as amended by this First Amendment, that results in early termination pursuant to the provisions of Section 20(a) of the Lease, then as a part of the recovery set forth in Section 20(a) of the Lease, Landlord shall be entitled to the recovery of the Monthly Basic Rental that was abated under the provisions of this Section 4.

     5.  Improvements to the Premises . Tenant accepts the Premises in its “as is” condition and acknowledges that Landlord has made no representation or warranty regarding the condition of the Premises except as expressly provided in the Lease. However, Landlord shall provide Tenant with a one-time refurbishment allowance (the “ Refurbishment Allowance ”) in the amount of Four Hundred Ninety-Seven Thousand One Hundred Thirty-Five Dollars ($497,135.00) (based on $5.00 per rentable square foot of the Premises) which may be used by Tenant only for the design and construction of renovations to the existing leasehold improvements within the Premises that are to be permanently affixed to the Premises (the “ Refurbished Improvements ”). The Refurbished Improvements may include, without limitation, wall modifications, tile, carpeting, paint and modifications to the systems of the Building. Any such Refurbished Improvements shall be constructed in accordance with, and subject to, Article 9 and Article 10 of the Lease. The Refurbishment Allowance shall be disbursed by Landlord to Tenant in accordance with the following procedure: Tenant shall deliver to Landlord: (i) a request for payment of Tenant’s general contractor (“ Contractor ”), which Contractor shall be retained by Tenant and shall be subject


 
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