EXHIBIT 10.22
THIRD AMENDMENT TO LEASE
AGREEMENT
THIS THIRD
AMENDMENT TO LEASE AGREEMENT (the “Third Amendment”),
is made this 3 rd day of June, 2008, by 3280 PEACHTREE I
LLC (as “Landlord”) and XPEDITE SYSTEMS, LLC D/B/A
PREMIERE GLOBAL SERVICES (as “Tenant”).
W I T N E S S E T H:
WHEREAS, Landlord
and Tenant did enter into that certain Lease Agreement, dated as of
October 28, 2005 (the “Original Lease”), for space
(consisting of all of the 10 th floor, containing 23,684
square feet of Rentable Floor Area) in that certain building
located at 3280 Peachtree Road, Atlanta, Georgia (the
“Building”), as such space is more particularly
described in the Original Lease (the “Demised
Premises”).
WHEREAS, Landlord
and Tenant did enter into that certain First Amendment to Lease
Agreement, dated July 31, 2006 (the “First
Amendment”).
WHEREAS, Landlord
and Tenant did enter into that certain Second Amendment to Lease
Agreement, dated March 15, 2007 (the “Second
Amendment”).
WHEREAS, the
Original Lease, as modified by the First and Second Amendment is
sometimes herein referred to collectively as the
“Lease”.
WHEREAS, Landlord
and Tenant desire to modify and amend the Lease, in the manner and
for the purposes herein set forth.
NOW, THEREFOR, for
and in consideration of the mutual premises, and for Ten and No/100
Dollars ($10.00) and other good and valuable consideration, paid by
the parties hereto to one another, the receipt and sufficiency of
which are acknowledged by the parties hereto, the parties hereto
hereby covenant and agree as follows:
1.
Defined Terms . All capitalized terms not defined herein
shall have the same meaning as set forth in the Original
Lease.
2.
Extension of Lease Term . The Lease Term is extended by
forty-nine (49) months, from July 31, 2014 (the “Term
Addition”), so that it shall continue through August 31,
2018, unless sooner terminated in accordance with the terms of the
Lease. This Term Addition shall not be deemed to be or constitute
an election by Tenant to exercise an “Extended Term”,
as described in Article 56 of the Original Lease.
3.
Base Rental . Base Rental shall be due from Tenant, and
Tenant hereby covenants and agrees to pay Base Rental, for the Term
Addition, as follows:
|
For the Demised Premises,
containing 23,684 square feet of Rentable Floor Area
|
|
August 1, 2014 - July 31,
2015
|
$25.40 per square foot of Rentable
Floor Area
|
|
August 1, 2015 - July 31,
2016
|
$26.10 per square foot of Rentable
Floor Area
|
|
August 1, 2016 - July 31,
2017
|
$26.82 per square foot of Rentable
Floor Area
|
|
August 1, 2017 - July 31,
2018
|
$27.56 per square foot of Rentable
Floor Area
|
|
August 1, 2018 - August 31,
2018
|
$28.32 per square foot of Rentable
Floor Area
|
4.
Additional Rental . Tenant’s Additional Rental and
Tenant’s Forecast Additional Rental shall be charged to and
be due and payable from Tenant with respect to the Demised Premises
leased under the Lease, for the Term Addition, on the same terms
and conditions as is set forth in the Lease.
5.
Tenant Improvement Allowance . Landlord shall also provide
an additional allowance of $236,840 for work performed or to be
performed by Tenant on the original Demised Premises (the
“Additional Allowance”). The Additional Allowance shall
be paid to Tenant within thirty (30) days after Tenant has
presented to Landlord reasonable evidence of (a) any hard or soft
costs incurred by Tenant and relating to improvements or
alterations made or being made to any portion of the Demised
Premises, including, but not limited to, any such costs incurred
prior to the date of this Third Amend
