Exhibit 10.41
FIFTH AMENDMENT TO OFFICE
LEASE
THIS FIFTH AMENDMENT TO OFFICE LEASE
(this “ Fifth
Amendment ”) is entered into between
CRESCENT REAL ESTATE FUNDING VIII, L.P. , a Delaware limited
partnership (“ Landlord ”), and GAINSCO,
INC. , a Texas corporation (“ Tenant ”).
A.
Landlord, and Tenant executed that certain Office Lease dated as of
May 3, 2005 (the “ Original
Lease ”) covering certain space designated as
Suite 1200, containing approximately 20,585 Rentable Square Feet on
the 12 th floor (the “ Original Premises ”) of the
office building located at 3333 Lee Parkway, Dallas, Texas (the
“ Building
”).
B.
The Original Lease has been amended by (i) that certain First
Amendment to Lease dated July 13, 2005 (the “
First Amendment
”), pursuant to which the Tenant leased an additional 11,130
Rentable Square Feet on the 11 th floor of the Building (the “
First Preferential
Space ”); (ii) that certain Second Amendment
to Lease dated September 23, 2005 (the “ Second Amendment ”), pursuant to
which the Premises was expanded to include an additional 8,749
Rentable Square Feet (the “ Expansion Space ”); (iii) that
certain Third Amendment to Office Lease dated October 27, 2005 (the
“ Third
Amendment ”) regarding use of certain
conference facilities; and (iv) that certain Fourth Amendment to
Office Lease executed by Landlord on January 25, 2006 (the “
Fourth Amendment
”) adding a Cabling Agreement as Exhibit G to the Lease.
C.
The Original Lease, as modified by the First Amendment, Second
Amendment, Third Amendment and Fourth Amendment is hereinafter
collectively referred to as the “ Lease ”. The Original
Premises as expanded by the First Preferential Space and Expansion
Space collectively consists of 40,464 Rentable Square Feet (the
“ Current
Premises ”).
D.
Landlord and Tenant now desire to amend the Lease as set forth
below. Unless otherwise expressly provided in this Second
Amendment, capitalized terms used in this Second Amendment shall
have the same meanings as in the Lease.
FOR GOOD AND VALUABLE CONSIDERATION,
the receipt and sufficiency of which are acknowledged, the parties
agree as follows:
1.
EXPANSION .
Tenant leases from Landlord
an additional 11,656 Rentable Square Feet in Suite 700 on the
7 th floor of the Building (the “
Second Expansion
Space ”) as depicted on the attached
Exhibit A . The
Lease term for the Second Expansion Space shall commence upon April
1, 2007 (the “ Second
Expansion Space Commencement Date ”), and
shall run concurrent with the Term of the Lease. Effective
upon the Second Expansion Space Commencement Date the “
Premises ”
shall be deemed to include the Current Premises and the Second
Expansion Space for all purposes of the Lease, and will consist of
a total of 52,120 Rentable Square Feet. In connection with
the foregoing, Landlord agrees that Tenant may enter the Second
Expansion Space on or after February 17, 2007 for the sole purpose
of installation of furniture, fixtures and equipment (the “
Early Entry ”)
provided that such Early Entry is conducted in a manner as to not
unreasonably interfere with any Landlord Work occurring in or
around the Second Expansion Space, and further provided that such
Early Entry shall be subject to all of the terms and conditions
contained in the Lease (other than the payment of Base Rent and
Tenant’s Pro Rata Share of Excess Operating Expenses),
including, without limitation, Tenant’s insurance and
indemnity obligations as contained in this Lease. Prior to
any such Early Entry, Tenant shall provide Landlord with
certificates of insurance or other evidence acceptable to Landlord
evidencing Tenant’s compliance with its insurance
obligations. In the event that Tenant’s Early Entry
interferes with the Landlord Work or otherwise disrupts
Landlord’s operations or the operations of other tenants in
the Building, Landlord may terminate Tenant’s right to Early
Entry, and any delay in the Landlord Work attributable to such
Early Entry will be deemed a Tenant Delay as provided in the
attached Work Letter.
3333 LEE PARKWAY / GAINSCO,
INC.
Fifth Amendment to Office
Lease
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2.
RENT
(a)
Base Rent for the Second Expansion
Space . Commencing upon the Second Expansion
Space Commencement Date and continuing through the Expiration Date
(“ SESCD ” and “ ED
”, respectively in the table below), the Base Rent due and
payable for the Second Expansion Space shall be as
follows:
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Period
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Annual Rate
Per RSF
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Monthly
Base Rent
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SESCD through ED
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$23.50
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$22,826.33
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(b)
Payment .
All rental shall be paid in
accordance with the terms and provisions of the Lease, as modified
by this Fifth Amendment.
3.
BASE
YEAR
The Base Year for Operating Expenses
in connection with the Second Expansion Space shall be the 2007
calendar year.
4.
EARLY
TERMINATION .
Tenant shall continue to have the option to terminate its lease of
the Original Premises and First Preferential Space on the terms and
conditions provided for in Section
3.D of the Original Lease. In addition, Tenant
shall have the option to terminate its lease of the Expansion Space
on the same terms and conditions set forth in Section 4 of the Second Amendment.
Furthermore, Tenant shall have the option to terminate its lease of
the Second Expansion Space on the same terms and conditions
provided for in Section 3.D
of the Original Lease, except the termination of the lease of the
Second Expansion Space shall be conditioned on the payment of six
(6) times (instead of four [4] times) the Base Rent payable for the
Second Expansion Space for the month immediately preceding the
Termination Date. Tenant shall have the option to terminate
its lease of the Original Premises, the First Preferential Space,
the Expansion Space and the Second Expansion Space separately, or
all at the same time.
5.
CONDITION OF THE
SECOND EXPANSION SPACE . TENANT ACCEPTS THE SECOND EXPANSION SPACE
IN ITS “AS-IS” CONDITION, AND LANDLORD MAKES NO
REPRESENTATIONS OR WARRANTIES WHATSOEVER WITH RESPECT THERETO,
except that Landlord shall cause leasehold improvements to be
performed in the Second Expansion Space in accordance with the Work
Letter attached as Exhibit
B .
6.
RIGHT OF FIRST
REFUSAL. Tenant shall the Right of First Refusal as set
forth in the Rider No.
1 attached to this Fifth Amendment.
7.
PARKING
. Effective as of the Second Expansion
Space Commencement Date, Tenant shall be entitled to an additional
38 parking permits which allow access to unreserved spaces in
Parking Facilities. Any charges for such permits shall be
abated for the initial Term of the Lease.
8.
BROKERS
. Tenant represents and warrants that it
has not been represented by any broker or agent in connection with
the execution of this Fifth Amendment. Tenant shall indemnify
and hold harmless Landlord and its designated property management,
construction and marketing firms, and their respective partners,
members, affiliates and subsidiaries, and all of their respective
officers, directors, shareholders, employees, servants, partners,
members, representatives, insurers and agents from and against all
claims (including costs of defense and investigation) of any broker
or agent or similar party claiming by, through or under Tenant in
connection with this Fifth Amendment.
9.
TIME OF THE ESSENCE
. Time is of the
essence with respect to Tenant’s execution and delivery of
this Fifth Amendment to Landlord. If Tenant fails to execute
and deliver a signed copy of this Fifth Amendment to Landlord by
5:00 p.m., February 7, 2007, this Fifth Amendment shall be deemed
null and void and shall have no force or effect, unless otherwise
agreed in writing by Landlord. Landlord’s
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acceptance, execution and return of
this Fifth Amendment shall constitute Landlord’s agreement to
waive Tenant’s failure to meet such deadline.
10.
MISCELLANEOUS .
This Fifth Amendment shall
become effective only upon its full execution and delivery by
Landlord and Tenant. This Fifth Amendment contains the
parties’ entire agreement regarding the subject matter
covered by it and supersedes all prior correspondence,
negotiations, and agreements, if any, whether oral or written,
between the parties concerning such subject matter. There are
no contemporaneous oral agreements, and there are no
representations or warranties between the parties not contained in
this Fifth Amendment. All exhibits referenced in this Fifth
Amendment are incorporated by reference and made a part hereof for
all purposes. Except as modified by this Fifth Amendment, the
terms and provisions of the Lease shall remain in full force and
effect, and the Lease, as modified by this Fifth Amendment, shall
be binding upon and shall inure to the benefit of Landlord and
Tenant, their successors and permitted assigns.
11.
RATIFICATION .
Tenant confirms and ratifies
that, as of the date hereof, (a) the Lease is and remains in good
standing and full force and effect, and (b) Tenant has no claims,
counterclaims, set-offs or defenses against Landlord arising out of
the Lease or in any way relating thereto or arising out of any
other transaction between Landlord and Tenant.
12.
CONTINGENCY .
The effectiveness of this
Fifth Amendment is contingent upon the termination of any leases
and other agreements currently encumbering the Second Expansion
Space. If such terminations are not effected to allow
sufficient time for Landlord to meet it’s obligations under
this Fifth Amendment, at Landlord’s option, this Fifth
Amendment will be void and of no force or effect.
LANDLORD AND TENANT enter into this
Fifth Amendment as of the Effective Date specified below
Landlord’s signature.
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TENANT :
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LANDLORD :
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GAINSCO, INC., a Texas corporation
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CRESCENT REAL ESTATE FUNDING
VIII,
L.P., a Delaware limited partnership
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By:
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/s/ Glenn W. Anderson
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By:
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CRE Management VIII, LLC,
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Name: Glenn W. Anderson
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a Delaware limited liability company,
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Title: President and CEO
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its General Partner
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By:
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Crescent Real Estate Equities, Ltd.,
a Delaware corporation, its Manager
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By:
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/s/ Michael S. Lewis
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Name: Michael S. Lewis
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Title: Senior Vice President
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Leasing & Marketing
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Effective Date: February 7,
2007
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