Second Amendment to Lease Agreement between Pixelworks Inc. and Union Bank of California (Trustee for Quest Group Trust VI)

Contract Categories: Real Estate › Lease Agreements
Summary

This amendment updates the lease between Pixelworks Inc. and Union Bank of California (as Trustee for Quest Group Trust VI) for office space in Tualatin, Oregon. Effective October 1, 2008, the leased premises are reduced in size, and the monthly rent and tenant's share of operating expenses are adjusted accordingly. The lease term for the reduced space runs until February 28, 2009. No additional security deposit or lease commission is required. The amendment is contingent on the landlord signing a lease with another tenant, West Yost Associates. All other original lease terms remain unchanged.

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EX-10.2 3 v50401exv10w2.htm EX-10.2 exv10w2
Exhibit 10.2
SECOND AMENDMENT TO LEASE
     
Amendment date:
  August 8, 2008
Lease date:
  June 20, 2005
 
    
Tenant:
  Pixelworks Inc.
Landlord:
  Union Bank of California, as Trustee for Quest Group Trust
 
  VI
 
    
Premises:
  8100 SW Nyberg Road Suites 100-400 Tualatin, Oregon
 
  97062
All terms, conditions, and covenants of the original lease and any addendums, exhibits, and/or attachments to the original lease referenced above shall remain the same, in full force and effect during the occupancy of tenant, with the addition of the following:
1.   Diminished Premises: As of October 1, 2008, Tenant’s premises shall decrease from 54,683 square feet to 49,472 square feet. The diminished premises shall include Suites 100, 105, 107, 111, 201, 300 and 400 Tualatin, Oregon 97062.
2.   Commencement Date: The term for the diminished premises shall commence on October 1, 2008 and termination shall be February 28, 2009.
3.   Monthly Base Rent: The following chart reflects the amended monthly base rent for the balance of the lease term:
         
October 1, 2008- January 31, 2009:
  $ 102,366  
February 1, 2009- February 28, 2009:
  $ 102,861  
4.   Operating Expenses: Commencing on October 1, 2008, the Tenant’s Proportion Share per Section 19 of the Lease Agreement shall be decreased from 97.96% to 88.61%. Tenant’s base year shall remain 2006.
 
5.   Security Deposit: Landlord is holding $115,772 and no additional security deposit shall be due.
 
6.   Lease commission: There is no lease commission for this transaction.
 
7.   Contingency: This proposal is contingent upon Landlord executing a lease agreement with West Yost Associates.

 

 

As amended by this Second Amendment to Lease, the Lease shall remain in full force and effect, including all items in the Second Amendment to Lease now signed. All other terms of the original lease remain the same.
IN WITNESS WHEREOF, the parties hereto have executed this Lease Amendment.
     
Landlord:
  Tenant:
Union Bank of California as
  Pixelworks Inc.
As Trustee for Quest Group VI
    
 
    
By: /s/ Jason Kaufman
 
   By: /s/ Steven Moore
 
     Jason Kaufman
       Steven Moore
 
    
Title: Assistant Vice President
  Title: Chief Financial Officer
 
    
Date: 8/20/08
  Date: 9/4/2008