Lease Termination Notice between E-Loan, Inc. and South Park Corporate Center, LLC
E-Loan, Inc. notifies South Park Corporate Center, LLC of its decision to terminate their lease agreement, originally dated February 4, 2002. The termination is exercised under the lease's cancellation clause, with the lease ending effective June 2, 2003. E-Loan, Inc. commits to fulfilling all lease obligations until the termination date, after which all conditions for ending the lease will be satisfied.
Exhibit 10.7
[E-Loan letterhead]
November 27, 2002
South Park Corporate Center
Attn: Mr. M. Craig Meek
3563 Philips Highway - Bldg. G
Jacksonville, FL 32207
Dear Craig:
RE: That certain Lease dated February 4, 2002 between SOUTHPARK
CORPORATE CENTER, llc, a Delaware limited company ("Landlord") and
E-Loan, Inc., a Delaware corporation ("Tenant")
The purpose of this letter is to exercise our rights under paragraph 2.6 Tenant's Right to Cancel Lease, on page 4 of the above referenced lease. This notice to you shall serve to terminate our lease effective June 2, 2003.
We shall continue to perform our obligation of the lease through the expiration/termination date of our lease, June 2, 2003, at which time all applicable conditions of termination shall be met.
Thank you for your continued cooperation.
Sincerely,
/s/
Matthew Roberts
CFO - E-LOAN, Inc.
