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PARTIAL SURRENDER AND SEVENTH AMENDMENT TO OFFICE LEASE

Office Lease Agreement

PARTIAL SURRENDER AND SEVENTH AMENDMENT TO OFFICE LEASE | Document Parties: SPARK NETWORKS INC | ARDEN REALTY LIMITED PARTNERSHIP | ARDEN REALTY, INC | B Tenant and Total Beauty Media, Inc | SPARK NETWORKS LIMITED | Sparks Networks PLC You are currently viewing:
This Office Lease Agreement involves

SPARK NETWORKS INC | ARDEN REALTY LIMITED PARTNERSHIP | ARDEN REALTY, INC | B Tenant and Total Beauty Media, Inc | SPARK NETWORKS LIMITED | Sparks Networks PLC

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Title: PARTIAL SURRENDER AND SEVENTH AMENDMENT TO OFFICE LEASE
Date: 3/31/2008
Industry: Personal Services     Sector: Services

PARTIAL SURRENDER AND SEVENTH AMENDMENT TO OFFICE LEASE, Parties: spark networks inc , arden realty limited partnership , arden realty  inc , b tenant and total beauty media  inc , spark networks limited , sparks networks plc
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Exhibit 10.1(g)

PARTIAL SURRENDER AND SEVENTH AMENDMENT TO OFFICE LEASE

This Partial Surrender and Seventh Amendment to Office Lease (“Seventh Amendment”) is made and entered into as of this 27 th day of November, 2007, by and between ARDEN REALTY LIMITED PARTNERSHIP, a Maryland limited partnership (“Landlord”), and SPARK NETWORKS LIMITED (formerly known as Sparks Networks PLC, which was formerly known as MatchNet plc), a limited company organized and existing under the laws of England and Wales and qualified to do business in California (“Tenant”), with reference to the following facts:

A. Landlord and Tenant entered into that certain Standard Office Lease dated as of September 1, 2000 (“Initial Lease”), as amended by that certain First Amendment to Lease dated as of September 5, 2000 (“First Amendment”), that certain Second Amendment to Lease dated as of January 16, 2003 (“Second Amendment”), that certain Third Amendment to Lease dated as of October 30, 2003 (the “Third Amendment”), that certain Fourth Amendment to Lease dated as of May 14, 2004 (the “Fourth Amendment”), that certain Fifth Amendment to Lease dated as of January 31, 2006 (the “Fifth Amendment”), and that certain Sixth Amendment to Lease dated as of February 6, 2007 (the “Sixth Amendment”), whereby Landlord leased to Tenant and Tenant leased from Landlord certain office space now consisting of approximately 24,955 rentable square feet in the aggregate and commonly known as Suites 800, 809 and 810 (collectively, the “Premises”), all in that certain building whose address is 8383 Wilshire Boulevard, Beverly Hills, California (the “Building”), as more particularly described in the Original Lease (as defined below). The Initial Lease, as amended by the First Amendment, Second Amendment, Third Amendment, Fourth Amendment, Fifth Amendment and Sixth Amendment, are sometimes collectively referred to herein as the “Original Lease.”

B. Tenant and Total Beauty Media, Inc., a Delaware corporation (“Subtenant”) entered into that certain Standard Sublease dated July 12, 2007 (the “Original Sublease”), whereby Tenant subleased to Subtenant and Subtenant subleased from Tenant a portion of the Premises as provided on Exhibit “A” attached to the Original Sublease (the “Original Sublease Premises”). Landlord consented to the Original Sublease pursuant to that certain Consent to Sublease Agreement dated July 19, 2007. Tenant and Subtenant entered into that certain First Amendment to Standard Sublease dated November 2, 2007 (“Sublease Amendment” and collectively referred to herein with the Original Sublease as the “Sublease”), whereby Tenant and Subtenant amended the terms of the Original Sublease to, among other things, increase the Original Sublease Premises to include additional portions of the Premises as provided on Exhibit “A” attached to the Sublease Amendment (collectively referred to herein with the Original Sublease Premises as the “Sublease Premises”), all as more particularly set forth therein. As of the date of this Seventh Amendment, Tenant and Subtenant are awaiting receipt of Landlord’s consent to the Sublease Amendment.

C. Tenant now desires to surrender to Landlord all of Tenant’s right, title and interest in and to (i) a portion of Suite 809 and all of Suite 810 consisting of approximately 8,541 rentable square feet in the aggregate, as more particularly depicted on Exhibit “A” attached hereto (collectively, the “Surrendered Premises”), and (ii) the Lease (as defined below) (but only as it relates to the Surrendered Premises), and Landlord desires to accept said surrender, all on the terms and conditions of this Seventh Amendment.

D. Landlord and Tenant also desire to extend the Term of Tenant’s lease of the Remaining Premises (as defined below) for a period of three (3) years upon the terms and conditions described in this Seventh Amendment.

E. Unless otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Lease. The term “Lease” where used in the Original Lease and this Seventh Amendment shall hereafter refer to the Original Lease, as amended by this Seventh Amendment.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are acknowledged, Landlord and Tenant agree as follows:

1. Extension of Term . The Term of the Lease is hereby extended until July 31, 2011 (“New Expiration Date”). The period commencing as of August 1, 2008 and ending as of the New Expiration Date shall hereinafter be referred to as the “Extended Term.”

 


2. Premises . Effective as of the Effective Date (as defined below), the “Premises” shall no longer include the Surrendered Premises and instead shall consist of only 16,414 rentable square feet, in the aggregate (collectively, the “Remaining Premises”), as such Remaining Premises is more particularly depicted on Exhibit “A” attached hereto. The Remaining Premises shall be commonly referred to as “Suite 800”. Effective as of the Effective Date, all references in the Lease to “Premises” shall mean and refer to the Remaining Premises only. Landlord and Tenant hereby stipulate and agree that the Remaining Premises consists of the number of rentable square feet set forth in this Section 2.

3. Effective Date . As used in this Seventh Amendment, the term “Effective Date” shall mean August 1, 2008.

4. Monthly Basic Rental . Until the day immediately preceding the Effective Date, Tenant shall continue to pay to Landlord monthly installments of Basic Rental in accordance with the terms of the Original Lease. Commencing as of the Effective Date (and notwithstanding anything to the contrary in the Original Lease), Tenant shall pay to Landlord monthly installments of Basic Rental (without limiting Tenant’s obligation to pay Tenant’s Proportionate Share of Direct Costs and all other amounts under the Lease due and payable with respect to the Remaining Premises) for the Remaining Premises in accordance with the terms of Section 3(a) of the Initial Lease and the following payment schedule:

 

Period of Term

   Monthly
Base Rent
   Annual
Base Rent
   Monthly Basic Rental
Per Rentable Sq. Ft.

August 1, 2008 – July 31, 2009

   $ 59,911.10    $ 718,933.20    $ 3.65

August 1, 2009 – July 31, 2010

   $ 62,373.20    $ 748,478.40    $ 3.80

August 1, 2010 – July 31, 2011

   $ 64,835.30    $ 778,023.60    $ 3.95

5. Tenant’s Proportionate Share . From and after the Effective Date, without limiting amounts accruing prior to such date, Tenant’s Proportionate Share shall be 3.93% and the Base Year shall be the calendar year 2008.

6. Security Deposit . Tenant has previously deposited with Landlord $74,865.00 as a security deposit under the Lease. Concurrently herewith, Tenant shall deposit with Landlord an additional $54,805.60 (which shall be held by Landlord as an additional security deposit under the Lease, thereby increasing the security deposit being held by Landlord under the Lease to $129,670.60 (“Security Deposit”)). Tenant shall have the right to substitute, at any time prior to the last nine (9) months of the Term, for the cash Security Deposit a letter of credit in the same amount, provided that the letter of credit is issued by a financial institution acceptable to Landlord and is otherwise in form and substance reasonably acceptable to Landlord. Upon its receipt of a letter of credit acceptable to Landlord (as set forth above), Landlord shall return the cash Security Deposit to Tenant. In no event shall the term of the letter of credit expire prior to the date which is 60 days following the expiration of the Term. For purposes hereof, Bank of America, N.A., Wells Fargo Bank, N.A. and other comparable financial institutions will be deemed acceptable to Landlord.

7. Parking . From and after the Effective Date, the number of parking passes Tenant shall be entitled to lease shall be reduced to forty-nine (49) unreserved parking passes (collectively, the “Remaining Spaces”). Tenant shall surrender all parking passes in excess of the Remaining Spaces on the Effective Date. Tenant shall continue to rent the Remaining Spaces in accordance with the terms of the Original Lease.

8. As Is . Tenant shall continue to lease the Remaining Premises in its “as-is, where-is condition,” with all faults. Notwithstanding the foregoing, Tenant shall have the right to improve the Remaining Premises in accordance with the terms and conditions set forth in the Tenant Work Letter attached hereto as Exhibit “B” (“Work Letter”).

9. Surrender of Surrendered Premises . Effective on the Effective Date, Tenant shall surrender to Landlord, and Landlord shall accept the surrender from Tenant, of all of Tenant’s right, title and interest in and to the Surrendered Premises, the Lease (as it relates only to the Surrendered Premises) and any other rights of occupancy, with respect to the Surrendered Premises, subject to the rights, duties and limitations set forth in this Amendment. Except for (a) Landlord’s and Tenant’s obligations to continue performance all of their respective obligations under the Lease (including Tenant’s obligation to pay Basic Rental and Additional Rent for the Surrendered Premises) until such time as Tenant has properly surrendered the Surrendered Premises in accordance with the terms of this Seventh Amendment (which, to the extent Tenant has not fully surrendered the Surrendered Premises by the Effective Date, shall include the payment of holdover rent on the Surrendered Premises until the Subtenant has completely vacated all of the Surrendered Premises and the Surrendered Premises has been properly surrendered [provided that solely for purposes of determining whether Tenant has fully surrendered the Premises, the completion of the installation of the demising wall referenced in Section 2.1 of the

 


attached Work Letter shall not be required for the Surrendered Premises to be considered fully surrendered]; in connection with the foregoing, Landlord acknowledges and understands that Tenant will need to occupy a portion of the Surrendered Premises for the purposes of constructing the demising wall and that, provided that Tenant has otherwise vacated th


 
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