Sale-Leaseback Agreement between Data Sales Co., Inc. and Adaytum Software Inc. for Dell and NEC Hardware
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Summary
Data Sales Co., Inc. agrees to purchase Dell and NEC hardware from Adaytum Software Inc. for $375,000 and lease it back to Adaytum for 18 months starting April 1, 2000. Adaytum will pay $24,090 per month plus sales tax via ACH direct deposit. At the end of the lease, Adaytum may buy the equipment at fair market value (not exceeding 10% of cost), return it, or renew the lease, provided there is no default. Data Sales also receives warrants equal to 5% of the financed amount. The agreement references a prior Master Lease dated June 8, 1998.
EX-10.26 23 ex-10_26.txt EXHIBIT 10.26 DATA SALES CO., INC. 3450 west burnsville parkway - burnsville, mn 55337 ###-###-#### - fax ###-###-#### March 29, 2000 Mr. Mike Mehr Adaytum Software Inc. 2051 Killebrew Drive Suite 400 Bloomington, MN 55425 Dear Mike, Data Sales Co. Inc. is pleased to provide Adaytum Software Inc. the following lease.
Please sign below acknowledging the conditions of this lease. Thank you. Sincerely, AGREED TO BY: Name: /s/ Mike H. Mehr ---------------------------------- /s/ Daniel Gannon Printed Name: Mike H. Mehr -------------------------- Daniel Gannon Title: VP - Finance & Administration ---------------------------------- Date: March 30, 2000 ----------------------------------