First Amendment to Standard Industrial/Commercial Single-Tenant Lease-Gross, dated November 14, 2018, by and between First Industrial, LP, a Delaware limited partnership and Lollicup USA Inc

Exhibit 10.9

FIRST AMENDMENT

TO

STANDARD INDUSTRIAL/COMMERICAL

SINGLE-TENANT LEASE-GROSS

THIS FIRST AMENDMENT to Standard Industrial/Commercial Single-Tenant-Gross Lease (“Amendment”) is dated November 14, 2018, by and between FIRST INDUSTRIAL, L.P. (“Lessor”), and Lollicup USA, Inc., a California corporation (“Lessee”).

RECITALS

WHEREAS Lessor and Lessee entered into a certain Standard Industrial/Commercial Single-Tenant Lease Gross, together with the Rider and Exhibit A thereto, dated February 6, 2013 (the “Original Lease”), pursuant to which Lessee leased that certain real property, as further described in the Original Lease (the “Premises”), which Premises include that certain building commonly known as 6185 Kimball Avenue, Chino, CA 91708 (the “Building”), and which Building contains 300,300 rentable square feet; and

WHEREAS, Lessee wishes to exercise its first (1st) Renewal Option, as described in Exhibit A to the Original Lease, on all of the same terms and conditions as stated in the Original Lease, except as otherwise expressly provided in this Amendment.

WITNESSETH

NOW, THEREFORE, in consideration of the foregoing Recitals and the mutual covenants herein contained, Lessor and Lessee hereby agree as follows:

Base Rental Payments

All Base Rent shall continue to be due on the first day of each month during the Extended Term.

In addition to the Base Rent, throughout the Extended Term, Lessee shall continue to pay to Lessor, on a monthly basis, a management fee in an amount equal to three percent (3.0%), per annum, of the Base Rent.

Notwithstanding the above language or any limitations set forth in Section 8. Lessor acknowledges and agrees that Lessee’s changes to the Premises through work performed by licensed contractors to increase the electrical current and output to the back of the Building by approximately 2,000 amps shall constitute Improvements within the meaning of this Section and shall be eligible for, and subject to, the Lessee Improvement Allowance identified below.

Lessor shall provide Lessee with an allowance for the performance of the Improvements in a maximum aggregate amount not to exceed the sum of One Hundred Fifty Thousand One Hundred Fifty Dollars ($150,150.00), which is fifty cents (50¢) per rentable square foot of the Premises (the “Lessee Improvement Allowance”) to be used to reimburse Lessee for the hard and soft costs incurred by Lessee to perform (or cause to be performed) the Improvements. All Improvements must be performed in accordance with the terms and conditions set forth in the Original Lease (including, but not limited to, Sections 7.3 and 7.4) and shall be deemed Alterations for all purposes under the Lease. Provided that no Default is then existing, the Lessee Improvement Allowance shall be paid by Lessor to Lessee, from time to time, after December 1, 2018 (but not more often than monthly), to reimburse Lessee for the costs and expenses it incurs to perform the Improvements. Lessor shall pay such reimbursements within twenty (20) days after Lessor’s receipt of written invoices (“Invoices”) evidencing the actual, out-of-pocket hard and soft costs incurred by Lessee, together with conditional waivers of mechanics liens and/or materialman’s liens, executed by all of the contractors, subcontractors, vendors and suppliers (collectively, “Contractors”) that provided those goods, or furnished those services, for the Improvements that are the subject of the current request for a disbursement of a portion of the Lessee Improvement Allowance, together with proof of payment and final lien waivers from all Contractors that provided those goods, or furnished those services, for the Improvements that were the subject of the immediately preceding disbursement of the Lessee Improvement Allowance to Lessee. Lessee shall have until July 31, 2024 (the “Cut Off Date”) to submit Invoices for payment from the Lessee Improvement Allowance. To the extent there is any remaining Lessee Improvement Allowance remaining after the Cut Off Date, such remaining amount of the Lessee Improvement Allowance shall be deemed automatically forfeited by Lessee. Lessee shall have the right to utilize the Lessee Improvement Allowance only for the performance of the Improvements; and Lessee shall not have the right to apply any portion of the Lessee Improvement Allowance to the satisfaction of Lessee’s monetary obligations to Lessor under the Lease. As a condition to the disbursement of the final installment of the Lessee Improvement Allowance, Lessee shall be required to deliver to Lessor: (i) final lien waivers from all Contractors (if and to the extent that such final lien waivers have not yet been delivered to Lessor with respect to the entirety of the services or goods to be provided by each Contractor, respectively, for the performance of the Improvements); (ii) a final general Contractor’s sworn statement, (iii) a certificate of completion for the Improvements signed by Lessee’s general Contractor, (iv) a final certificate of occupancy for the Improvements, and (v) as-built drawings of the Building, reflecting all Improvements and prepared by a duly-licensed engineer.

Lessee hereby indemnifies, defends and holds Lessor, its partners and the partners, members, officers, directors, shareholders, employees, agents and representatives of Lessor and its partners (collectively, the “Lessor Indemnified Parties”) from and against any and all liabilities, obligations, causes of action, actual damages, losses, costs and expenses, including, but not limited to legal fees and court costs (collectively, “Losses”) that any or all of the Lessor Indemnified Parties suffers or incurs due to, as a result of, or because of, the performance of the Improvements; provided, however, that the foregoing indemnity shall not apply to any Losses that are suffered or incurred due to, or as a result of, any willful or intentional acts of omissions of any of the Lessor Indemnified Parties. Lessee shall furnish to Lessor such information and evidence as Lessor may reasonably request from time to time to enable Lessor to monitor completion of the Improvements and determine Lessee’s compliance with the provisions of this Section 8.

IN WITNESS WHEREOF, the parties have executed this Amendment the day and year first above written.