Exhibit 10.2
FOURTEENTH AMENDMENT TO SUBLEASE
AGREEMENT
This Fourteenth Amendment to
Sublease Agreement (“ Fourteenth Amendment ”) is
made as of the 1st day of March, 2009, between Verizon Realty
Corp., a Delaware corporation (“ Landlord ”),
and Idearc Media LLC, a Delaware limited liability company (“
Tenant ”).
RECITALS
WHEREAS, Landlord and Tenant entered
into that certain Sublease Agreement dated January 1, 2007
(the “ Lease ,” as amended) for property located
in the Dallas-Fort Worth Regional Airport, Tarrant County, Texas,
as more particularly described in the Lease (the “
Property ”);
WHEREAS, the Lease was amended by
that certain First Amendment to Sublease Agreement between the
parties dated as of May 28, 2008; that certain Second
Amendment to Sublease Agreement between the parties dated as of
June 13, 2008; that certain Third Amendment to Sublease
Agreement between the parties dated as of June 17, 2008; that
certain Fourth Amendment to Sublease Agreement between the parties
dated as of September 10, 2008; that certain Fifth Amendment
to Sublease Agreement between the parties dated as of
September 30, 2008; that certain Sixth Amendment to Sublease
Agreement between the parties dated as of October 14, 2008;
that certain Seventh Amendment to Sublease Agreement between the
parties dated as of October 28, 2008; that certain Eighth
Amendment to Sublease Agreement between the parties dated as of
November 5, 2008; that certain Ninth Amendment to Sublease
Agreement between the parties dated as of November 12, 2008;
that certain Tenth Amendment to Sublease Agreement between the
parties dated as of November 19, 2008; that certain
Eleventh Amendment to Sublease Agreement between the parties dated
as of December 4, 2008; that certain Twelfth Amendment
to Sublease Agreement between the parties dated as of
January 5, 2009; and that certain Thirteenth Amendment to
Sublease Agreement between the parties dated as of February 4,
2009.
WHEREAS, Landlord and Tenant desire
to amend the terms of the Lease as hereinafter set
forth.
NOW THEREFORE, in consideration of
the mutual covenants contained herein and other good and valuable
consideration, the receipt and sufficiency of which is hereby
acknowledged, Landlord and Tenant hereby amend the Lease as
follows:
AMENDMENT
1.
Section 1.1(d) of the Lease is hereby deleted in
its entirety, and the right of termination provided for therein
shall no longer be of any force or effect.
2.
Section 1.2 of the Lease is hereby deleted in its
entirety, and the following is substituted in lieu
thereof:
Section 1.2
Term . Tenant shall enjoy the tenancy of the Property
for a term (the “ Term ”) commencing on
January 1, 2007 (the “ Commencement Date
”), and ending on December 31, 2018 (the “
Expiration Date ”).
3.
Section 3.1 of the Lease is hereby deleted in its
entirety, and the following is substituted in lieu
thereof:
Section 3.1
Rent .
(a)
Tenant agrees to pay to Landlord, in lawful money of the United
States, at the address specified above or such other place as
Landlord shall designate by notice to Tenant, during the aforesaid
term, a fixed rent (the “ Base Rent ”)
provided for in this Section 3.1 during the Term.
(b)
Tenant shall pay Base Rent at an annual amount of $4,188,240.00
($349,020.00 per month) for the first 24 months of the Term.
Commencing on the 25 th
month of the Term, and for
each 12 month period thereafter (for example months 25-36, 37-48),
Base Rent shall be increased in accordance with the following
schedule:
|
Month of the
Term
|
|
Annual Base Rent
(12-month period)
|
|
Monthly
Base Rent
|
|
|
2-24
|
|
$
|
4,188,240.00
|
|
$
|
349,020.00
|
|
|
25-26
|
|
$
|
4,280,381.00
|
|
$
|
356,698.42
|
|
|
27-36
|
|
$
|
3,822,621.00
|
|
$
|
318,551.75
|
|
|
37-48
|
|
$
|
3,892,400.09
|
|
$
|
324,366.67
|
|
|
49-60
|
|
$
|
3,963,714.33
|
|
$
|
330,309.53
|
|
|
61-72
|
|
$
|
4,036,597.48
|
|
$
|
336,383.12
|
|
|
73-8
|
|
