Back to top

SEVENTH AMENDMENT TO LEASE

Lease Agreement

SEVENTH AMENDMENT TO LEASE | Document Parties: ENCORIUM GROUP INC | Covalent Group Inc | FV Office Partners, LP | GLENHARDIE PARTNERS, LP | Interactive Health Computing Inc | Tredyffrin GP, LLC You are currently viewing:
This Lease Agreement involves

ENCORIUM GROUP INC | Covalent Group Inc | FV Office Partners, LP | GLENHARDIE PARTNERS, LP | Interactive Health Computing Inc | Tredyffrin GP, LLC

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: SEVENTH AMENDMENT TO LEASE
Date: 11/26/2008
Industry: Biotechnology and Drugs     Sector: Healthcare

SEVENTH AMENDMENT TO LEASE, Parties: encorium group inc , covalent group inc , fv office partners  lp , glenhardie partners  lp , interactive health computing inc , tredyffrin gp  llc
50 of the Top 250 law firms use our Products every day

Exhibit 10.1

SEVENTH AMENDMENT TO LEASE

THIS SEVENTH AMENDMENT TO LEASE (the “Amendment”) dated as of the 2nd day of July, 2008 (the “Effective Date”), by and between GLENHARDIE PARTNERS, L.P. , successor in interest to FV Office Partners, L.P., a limited partnership organized and existing under the laws of Delaware (hereinafter referred to as “Landlord”), and ENCORIUM GROUP, INC. , f/k/a/ Covalent Group Inc., a corporation organized and existing under the laws of Nevada whose present address is 1275 Drummers Lane, Wayne, PA 19087 (hereinafter referred to as “Tenant”).

W I T N E S S E T H    T H A T :

WHEREAS, Landlord leased certain premises at Glenhardie Corporate Center in the building located at 1275 Drummers Lane, Wayne, Pennsylvania 19087 (the “Building”), to Tenant pursuant to that certain Lease dated September 9, 1994, amended by that certain First Amendment to Lease dated March 25, 1996 and that certain Second Amendment to Lease dated November 14, 1996 (collectively, the “Original Lease”);

WHEREAS, Landlord and Interactive Health Computing Inc. (“IHC”) entered into that certain Agreement of Lease dated January 15, 1996 as amended by a First Amendment to Lease dated March 25, 1996 (the “IHC Lease”) regarding certain space located on the first floor of the Building. Landlord consented to the assignment of the IHC Lease to Tenant pursuant to that certain Assignment and Assumption of Lease dated September 30, 1999 between Tenant and IHC in which Tenant assumed the rights and obligations of the IHC Lease (the “Assignment and Assumption”) and that certain Consent to Assignment and Assumption between Landlord, IHC and Tenant dated September 1999 (the “Consent”). The IHC Lease, the Assignment and Assumption and the Consent are hereinafter collectively referred to as the “IHC Lease Documents.” The Original Lease and the IHC Lease Documents as the same has been modified by that certain Third Amendment to Lease dated July 31, 2001, that certain Fourth Amendment to Lease dated as of November 27, 2001, that certain Fifth Amendment to Lease dated as of December 13, 2002 and that certain Sixth Amendment to Lease dated as of July 2, 2008 (the “Sixth Amendment”) are hereinafter collectively referred to as the “Lease”; and

WHEREAS, Landlord and Tenant have agreed to further amend the Lease in accordance with the terms and conditions set forth herein;

NOW THEREFORE , Landlord and Tenant for good and valuable consideration, intending to be legally bound, hereby agree as follows:

1. Paragraph 2 of the Sixth Amendment is hereby deleted in its entirety and replaced by the following:

“As of the Effective Date Fixed Rent shall be $22.00 per rentable square foot payable in equal monthly installments. Upon the occurrence of the Give Back Space Surrender Date (as hereinafter defined) Fixed Rent shall be due and payable in accordance with the following schedule:


 

 

 

 

 

 

 

Time Period

  

Monthly Fixed
Rent

  

Annual Fixed
Rent

Give Back Space Surrender Date—5/31/2009

  

$

42,137.33

  

$

505,648.00

6/1/2009—5/31/2010

  

$

43,573.83

  

$

522,886.00

6/1/2010—5/31/2011

  

$

45,010.33

  

$

540,124.00

6/1/2011—5/31/2012

  

$

46,446.83

  

$

557,362.00

6/1/2012—5/31/2013

  

$

47,883.33

  

$

574,600.00

6/1/2013—5/31/2014

  

$

49,319.83

  

$

591,838.00

6/1/2014—12/31/2014

  

$

50,756.33

  

$

609,076.00”

2. Paragraph 4 of the Sixth Amendment is hereby deleted in its entirety and replaced by the following:

“Upon completion of the Tenant Improvements Tenant shall surrender to Landlord a portion of the Premises located on the first floor known as Suite 100 consisting of approximately 11,042 rentable square feet and more fully described on Exhibit “A” attached hereto (the “Give Back Space”). On the date on which Tenant turns over the Give Back Space to Landlord in vacant and broom clean condition (the “Give Back Space Surrender Date”) the Give Back Space shall cease to be a portion of the Premises and Tenant shall not have access to or use of the Give Back Space. From and after the Give Back Space Surrender Date: (i) the Premises shall consist of approximately 22,984 rentable square feet, consisting of 697 rentable square feet


 
SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)


Try our advanced search >>
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Get Email Updates
Email:
This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more