Exhibit 10.7
TENTH MODIFICATION OF OFFICE
LEASE
THIS TENTH MODIFICATION OF OFFICE
LEASE (this “ Tenth Modification ”) is
entered into as of the
day of
, 2004 (the “ Effective Date ”), by and
between CRESCENT REAL ESTATE FUNDING I, L.P. , a Delaware
limited partnership (“ Landlord ”), and
WESTWOOD MANAGEMENT CORP. , a New York corporation (“
Tenant ”).
RECITALS:
A. The Crescent, a Texas joint
venture, predecessor-in-interest to Landlord, and Tenant entered
into that certain Office Lease dated April 9, 1990 (the “
Original Lease ”), covering certain space
therein designated as Suite 1110, containing approximately 1,621
rentable square feet (the “ Original Premises
”), located on the 11 th floor of the 300 portion of the
office building commonly known as The Crescent
®
, and located at 100,
200 and 300 Crescent Court, Dallas, Dallas County, Texas (the
“ Office Building ”).
B. The Original Lease has been
amended by: (i) that certain First Modification of Office Lease
dated September 11, 1991 (the “ First
Modification ”), pursuant to which the Original
Premises were expanded to include an additional 1,783 rentable
square feet to consist of a total of 3, 404 rentable square feet;
(ii) that certain Second Modification of Office Lease dated
September 27, 1991 (the “ Second Modification
”), pursuant to which an error in the amount of the monthly
installments of Basic Rental was corrected; (iii) that certain
Third Modification of Office Lease dated October 5, 1994 (the
“ Third Modification ”), pursuant to
which Tenant relocated to Suite 1320, containing approximately
5,322 rentable square feet located in 300 Crescent Court, Dallas,
Texas (the “ New Premises ”); (iv) that
certain Letter Agreement dated June 15, 1995 (the “
Letter Agreement ”), pursuant to which the term
of the Original Lease was extended for an additional five (5)
years, through and including March 31, 2000; (v) that certain
Fourth Modification of Office Lease dated April 26, 1996 (the
“ Fourth Modification ”), pursuant to
which the New Premises were expanded to include an additional 2,691
rentable square feet located at 200 Crescent Court, Dallas, Texas
(the “ First Expansion Space ”) and an
additional 1,770 rentable square feet located in 300 Crescent
Court, Dallas, Texas (the Second Expansion Space
”) and the term of the Original Lease was extended through
June 30, 2001; (vi) that certain Fifth Modification of Office Lease
dated May 30, 1996 (the “ Fifth Modification
”), pursuant to which the New Premises were expanded to
include an additional 167 rentable square feet located at 200
Crescent Court, Dallas, Texas (the “ Third Expansion
Space ”); (vii) that certain Sixth Modification of
Office Lease dated September 18, 1997 (the “ Sixth
Modification ”), pursuant to which the New Premises
were expanded to include an additional 1,038 rentable square feet
located at 200 Crescent Court, Dallas, Texas (the “
Fourth Expansion Space ”); (viii) that certain
Seventh Modification of Office Lease dated June 24, 1998 (the
“ Seventh Modification ”), pursuant to
which the New Premises were reduced by approximately 3,896 rentable
square feet of space located at 200 Crescent Court, Dallas, Texas
(the “ Released Space ”) and expanded to
include an additional 5,818 rentable square feet located on the
thirteenth floor of 200 and 300 Crescent Court, Dallas, Texas (the
“ Fifth Expansion Space ”); (ix) that
certain Eighth Modification of Office Lease dated September 21,
1998 (the “ Eighth Modification ”),
pursuant to which the New Premises were expanded to include an
additional
1
665 rentable square feet located on the
thirteenth floor of 200 Crescent Court, Dallas, Texas (the “
Sixth
