FIRST AMENDMENT TO LEASE
EX-10.2 3 exhbit102firstamendmenttol.htm EXHIBIT 10.2 Exhibit
Exhibit 10.2
FIRST AMENDMENT TO LEASE
THIS FIRST AMENDMENT TO LEASE (this “First Amendment”) is dated as of January 15, 2008, and is entered into by and between MAINROCK II CHANDLER, LLC, a Delaware limited liability company (“Lessor”), and INTERNAP NETWORK SERVICES CORPORATION, a Delaware corporation (“Lessee”).
R E C I T A L S
1) Lessor and Lessee entered into that certain Lease Agreement dated as of June 15, 2007 (the “Existing Lease”) with respect to the Premises (as defined in the Existing Lease) in the building located at 2121 South Price Road, Chandler, Arizona 85248 (the “Existing Premises”).
1) Lessor and Lessee desire to expand the Existing Premises and to further amend the Existing Lease as provided herein.
In consideration of the foregoing recitals, the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Lessor and Lessee hereby agree as follows:
A G R E E M E N T
1.DEFINITIONS.
All capitalized terms used in this First Amendment which are not otherwise defined herein shall have the same meanings as set forth in the Existing Lease. Unless expressly stated otherwise herein, the term “Lease” as used herein shall mean the Existing Lease as amended hereby.
2. EXPANSION SPACE.
(a) Lessee acknowledges that Lessor has completed the Lessor Work under the Existing Lease and that Lessee is currently in possession of the Existing Premises. Beginning on the Expansion Space Commencement Date (as defined in Paragraph 3(a) below), the Existing Premises shall be expanded to include an additional [***] square feet of area as shown further on Exhibit “A” attached hereto (the “Expansion Space”). Upon the Expansion Space Commencement Date and throughout the Expansion Space Term (defined below), the term “Premises” as used in the Lease and herein, shall mean and include the Existing Premises as expanded by the Expansion Space, unless specifically stated otherwise. Accordingly, except as expressly stated otherwise herein, or where the context would indicate otherwise, all terms and conditions applicable to the Existing Premises shall be equally applicable to the Expansion Space.
(b) The parties hereby stipulate that the area of the Expansion Space is [***] square feet.
3. TERM.
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The term for the Expansion Space (“Expansion Space Term”) shall commence on the later of (i) March 1, 2008, and (ii) Lessor’s delivery of the Expansion Space to Lessee (the “Expansion Space Commencement Date”), and shall be coterminous with the Term for the Existing Premises (i.e., it shall expire on December 31, 2014); provided, however, that if Lessor shall fail to deliver to Lessee possession of the Expansion Space by any date certain for any reason, Lessor shall not be deemed in default hereunder and the Expansion Space Commencement Date shall be deemed to be extended u1ttil the date on which Lessor shall tender to Lessee delivery of possession of the Expansion Space. Section 2.2 of the Existing Lease shall not apply to the Expansion Space.
4. EXPANSION IMPROVEMENTS.
Lessor shall deliver the Expansion Space to Lessee in its “AS-IS” condition and Lessee hereby acknowledges and agrees that Lessor is not obligated to make any improvements to the Expansion Space, nor to provide any allowance therefor.
5. RENTAL PAYMENTS: SECURITY DEPOSIT.
(a) In addition to the Base Rent payable for the Existing Premises as set forth in the Existing Lease, beginning on the Expansion Space Commencement Date, Lessee shall also pay Base Rent for the Expansion Space during the Expansion Space Term in the monthly amount of $[***], to be increased annually during the initial Term by [***]% on every one year anniversary of the Commencement Date for the Existing Premises.
(b) Notwithstanding the foregoing, concurrently with Lessee’s execution and delivery of this First Amendment, Lessee shall pre-pay to Lessor the first full month’s Base Rent owed for the Expansion Space which shall be applied towards Base Rent for March, 2008.
(c) Concurrently with the execution hereof, Lessee shall deposit no additional funds with Lessor to be held as an additional Security Deposit pursuant to Section 8.6 of the Lease.
6. ELECTRICITY: OPERATING EXPENSES.
(a) As of the Expansion Space Commencement Date, the Basic Capacity shall be increased by [***] kW of AC electric capacity such that Lessee’s total Basic Capacity for the Premises shall be [***] kW.
(b) As of the Expansion Space Commencement Date, Lessee’s Pro Rata Share shall be increased to [***]%. The Base Year for the Expansion Space shall be the same as the Base Year for the Existing Premises.
7. GOVERNING LAW.
This First Amendment shall be construed in accordance with and governed by the laws of the State of Arizona.
8. ATTORNEYS’ FEES.
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If either party commences an action or proceeding to enforce or interpret this First Amendment, the prevailing party (as determined by the trier of fact and confirmed on appeal, if any) shall be entitled to collect its attorneys’ fees and costs incurred in connection with such action or proceeding (including any appeals) from the other party, and the prevailing party’s rights and the other party’s obligations hereunder shall be severable from, and shall survive and not merge into, any judgment.
9. ENTIRE AGREEMENT.
This First Amendment constitutes the entire agreement of Lessor and Lessee with respect to the specific subject matter hereof. This First Amendment is valid for execution by Lessee through January 31, 2008.
10. CORPORATE AUTHORITY.
Each of the persons executing this First Amendment on behalf of Lessee hereby covenants and represents and warrants that (a) Lessee is a duly authorized and validly existing corporation, (b) Lessee has and is qualified to do business in Arizona, (c) Lessee has full right and authority to enter into this First Amendment, and (d) each person executing this First Amendment on behalf of Lessee is authorized to do so.
11. SUCCESSORS AND ASSIGNS.
Subject to the provisions of the Existing Lease relating to assignment, mortgaging, pledging and subletting, the Existing Lease, as amended by this First Amendment, shall bind the heirs, executors, administrators, successors and assigns of any and all of the parties hereto.
12. CONSTRUCTION; REAFFIRMATION.
Except as expressly amended hereby, all of the terms and conditions of the Existing Lease shall remain unmodified and in full force and effect. In the event of a conflict between the terms of the Existing Lease and the terms of this First Amendment, the terms of this First Amendment shall govern and prevail. The Existing Lease, as amended by this First Amendment, is hereby reaffirmed and Lessee acknowledges that Lessor is not in default of any of its obligations under the Lease.
[Signatures on next page.]
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IN WITNESS WHEREOF, Lessor and Lessee have executed this First Amendment as of the day and year first written above.
LESSEE: LESSOR:
INTERNAP NETWORK SERVICES MAINROCK II CHANDLER, LLC,
CORPORATION, a Delaware limited liability company,
a Delaware corporation
By: MainRock II Mezz, LLC,
a Delaware limited liability company,
its sole member
By: /s/ Tamara Augustyn
By: MainRock II, LLC,
Print Name: Tamara Augustyn a Delaware limited liability company,
Title: VP, Finance its sole member
By: 365 Main-AZ/VA, LLC,
By: a Delaware limited liability company, its Manager
Print Name:
Title:
By: /s/ Kevin Tlace
Print Name: Kevin Tlace
Title: VP
INTERNAP NETWORK SERVICES MAINROCK II CHANDLER, LLC,
CORPORATION, a Delaware limited liability company,
a Delaware corporation
By: MainRock II Mezz, LLC,
a Delaware limited liability company,
its sole member
By: /s/ Tamara Augustyn
By: MainRock II, LLC,
Print Name: Tamara Augustyn a Delaware limited liability company,
Title: VP, Finance its sole member
By: 365 Main-AZ/VA, LLC,
By: a Delaware limited liability company, its Manager
Print Name:
Title:
By: /s/ Kevin Tlace
Print Name: Kevin Tlace
Title: VP
[***] | Information has been omitted and submitted separately to the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. |
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EXHIBIT “A”
EXPANSION SPACE
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