This Lease Assignment Agreement involves
Title: ASSIGNMENT OF LEASE (SKECHERS LEASE)
Governing Law: California Date: 11/9/2010
Industry: Footwear Sector: Consumer Cyclical
ASSIGNMENT OF LEASE
THIS ASSIGNMENT OF LEASE (“ Assignment ”) is made and entered into this 12 th day of April, 2010 (the “ Effective Date ”) by and between HF LOGISTICS I, LLC, a Delaware limited liability company (“ Assignor ”) and HF LOGISTICS-SKX T1, LLC, a Delaware limited liability company (“ Assignee ”).
For valuable consideration, receipt of which is acknowledged, Assignor and Assignee agree as follows:
1. Assignment and Assumption .
(a) Assignor hereby assigns and transfers to Assignee all right, title and interest of Assignor in, to and under the lease (the “ Lease ”) described as follows: Lease Agreement dated September 25, 2007 between Assignor, as landlord, and Skechers U.S.A., Inc., a Delaware corporation (“ Tenant ”), as tenant, as amended by that certain Amendment to Lease Agreement dated December 18, 2009, by and between Assignor and Tenant. The foregoing assignment includes the transfer by Assignor to Assignee of all rights to prepaid rents (including, without limitation, operating expenses) under the Lease. It is understood and agreed that the actual transfer of the prepaid rent and operating expenses (Eight Hundred Ninety-Eight Thousand Two Hundred Eighty-One Dollars ($898,281)) shall be made by Assignor to Assignee no later than the Commencement Date (as defined in the Lease).
(b) Assignee hereby accepts the foregoing assignment, and assumes and agrees to perform all of the covenants and agreements in the Lease to be performed by the landlord thereunder that arise from and after the Effective Date.
2. Assignor Representations . Assignor represents to Assignee as follows:
(a) It is the sole, lawful owner of the landlord’s interest in the Lease and Assignor has not sold, assigned, encumbered or transferred any interest in the Lease, or any part thereof, to any other person or entity.
(b) To the best of Assignor’s knowledge, the Lease is in full force and effect and neither Tenant nor Assignor, as landlord, is in default thereunder.
3. Indemnification . Assignor agrees to indemnify, defend a