The Outside TI Completion Date is extended to November 1, 2022. Notwithstanding the foregoing, "Approved Work" shall specifically exclude the purchase of moveable furniture, fixtures or other equipment which have no permanent connection to the Leased Premises." b. As used herein, "Approved Work" shall be performed in accordance with Paragraph 13 of the Lease and shall mean (i) sustainability related physical improvements to the building(s) located on or comprising a part of the Leased Premises, including the installation of solar panels to the Building(s), the upgrade or replacement of building equipment and systems with high efficiency alternatives (HV AC, plumbing, electrical, and building automation systems), improvements to the building envelope, shell or facade, and other projects subject to Landlord's review and prior written approval and (ii) certain soft costs (which soft costs shall not, in any event, exceed thirty percent (30%) of the TI allowance), including, but not limited to, space planning, space programming, interior design, design development drawings, construction drawings, electrical / mechanical / plumbing /Įngineering drawings, commissioning fees, energy audit fees, approval fees, and other construction design costs. Landlord shall reimburse Tenant after completion of the Approved Work. Paragraph 5 of the First Amendment, entitled Tenant Improvement Allowance, is hereby amended by deleting subsection (a) in its entirety and replacing it with the following: "(a) Landlord shall provide to Tenant an improvement allowance ("TI Allowance") equal to $967,245.00 for Approved Work (hereinafter defined) to be completed by Tenant that Tenant deems necessary or desirable for its continued use and occupancy of the Leased Premises. Effective as of the Effective Date, the Existing Lease is hereby amended as follows: a. As used herein, the term "Lease" shall mean the Existing Lease as amended by this Amendment and as hereafter amended. All capitalized terms contained in this Amendment shall, for the purposes hereof, have the same meanings ascribed to them in the Existing Lease unless otherwise defined herein. NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant hereby covenant and agree as follows: 1. W I TN E S S E T H: - WHEREAS, QRS 11-20 (UT), INC., a Utah corporation ("Original Landlord") and Tenant entered into that certain Lease Agreement dated as of J(the "Original Lease"), as such Original Lease was assigned pursuant to that certain Assignment and Assumption of Lease dated Aug(the "Assignment") from Original Landlord to Landlord, and amended by that certain Addendum to Lease Agreement dated Ap(the "Addendum"), and as further amended by that certain First Amendment to Lease Agreement dated (the "First Amendment", and collectively with the Original Lease, the Addendum and First Amendment, the "Existing Lease"), with respect to certain real property located at 1600 West Merit Parkway, South Jordan, UT (the "Leased Premises") and WHEREAS, Landlord and Tenant hereby desire to further amend the Existing Lease to (i) revise the Tenant Improvement Allowance and (ii) to adopt the Green Lease Rider attached hereto as Exhibit F. SECOND AMENDMENT TO LEASE AGREEMENT THIS SECOND AMENDMENT TO LEASE AGREEMENT (this "Amendment") dated as of l\'ltlCR JO_, 2022 (the "Effective Date") by and between MM (UT) QRS 11-59, INC., a Delaware corporation ("Landlord"), as lessor, and MERIT MEDICAL SYSTEMS, INC., a Utah corporation ("Tenant"), as lessee.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |