Exhibit 10.9
FIRST
AMENDMENT TO OFFICE LEASE
THIS FIRST AMENDMENT TO OFFICE LEASE (“
Amendment ”) effective as of July 1, 2007 by and
between Aerospace/Defense, Inc. , a South Carolina
corporation (hereinafter call the “ Landlord ”)
and Force Protection Industries, Inc. and Force
Protection, Inc. , Nevada corporations (collectively, the
“ Tenant ”).
RECITALS
A.
By Office Lease effective as of June 1, 2005 (the “
Lease ”), the Landlord leased unto Tenant certain
premises within Building No. 1 situated in an industrial
project (the “ Project ”) located in Ladson
(Charleston County), South Carolina. By the execution of this
Amendment, the parties intend to amend the Lease according to the
terms of Subsection 27K of the Lease. Each capitalized term
used and not otherwise defined or modified herein shall have the
meaning ascribed thereto in the Lease.
B.
The Landlord and Tenant now wish to enter into this Amendment to
amend the Lease according to the terms, provisions and conditions
hereinafter set forth.
NOW
THEREFORE, in consideration of the mutual promises given one to the
other, the parties do hereby covenant and agree to amend and modify
the Lease as follows:
1.
All the recitals set forth above in the “ Recitals
” clauses are hereby made an integral part of this
Agreement.
2.
Section 2C of the Lease is modified to read as
follows:
“2C. The Initial Term of this Lease and
any extension thereof may be extended at the option of the Tenant
for four (4) separate and successive periods of five
(5) years each (each an “ Option Period ”)
commencing on the day following the expiration date of the Initial
Term or the last day of the then-current Option Period, as the case
may be. Tenant may exercise the option by notice in writing to
Landlord served at least six (6) months and not more than
twelve (12) months prior to the end of the last year of the Initial
Term or the then-current Option Period, as the case may be.
Conditions to exercising any option to renew this Lease shall be
(i) Tenant shall not be in default in the performance of any
terms, covenants, or conditions of this Lease, and (ii) Tenant
shall have exercised its option to renew and extend the term of
that certain Industrial Lease between the parties hereto dated as
of July 13, 2004, covering premises known as Building
No. 2 of the Project (the “Building No. 2
Lease”) pursuant to Subsection 2C therein. All terms and
conditions of this Lease shall be applicable to the Option Period
referred to in this Subsection 2C . For clarification,
the Term of this Lease and the term of the Building No. 2
Lease shall be coterminous: that is, the Term of this Lease shall
be the same as the term of the Building No. 2 Lease. For
further clarification, for the Tenant to exercise its option to
renew and extend this Lease under Section 2C above, the Tenant
shall have also exercised its option to renew for the same 5-year
period pursuant to Section 2C of the Building No. 2
Lease, and if the Building No. 2 Lease expires or terminates,
this Lease shall also
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