Sample Business Contracts
Massachusetts-Westborough-155 Flanders Road Lease [Amendment No. 1] - Flanders 155 LLC and A123 Systems Inc.
Lease Forms
- Start a state-specific lease for the rental of commercial property. Specify the term and rent due, as well as whether the landlord or tenant is responsible for property taxes, insurance, and maintenance and repairs.
- When a tenant vacates commercial property before the lease term has expired, it may be able to rent the premises to a third party. The tenant would be the sublessor and the third party would be the sublessee. Besides preparing a sublease, both parties will want to review the provisions for assignment or subletting in the original lease agreement between the landlord and the sublessor.
- Tenants of residential property should prepare a sublease agreement if they are seeking to sublease a room or the entire apartment or house to a third party. All parties should review the original lease agreement to see if there are any restrictions on subletting or assigning the premises.
- Triple net leases are a type of commercial leases where the tenant has to pay for property taxes, insurance, utilities, and maintenance, in addition to the monthly rent.
- When renting an office space, tenants should understand the amount of the rent and duration of the lease. Other important terms include whether the space can be subleased, which parties are responsible for maintenance, and whether any furniture and furnishings will be provided.
FIRST AMENDMENT TO LEASE AGREEMENT
This First Amendment to Lease Agreement ("First Amendment") is made and shall be effective for all purposes as of the day of , 2011 by and between FLANDERS 155 LLC ("Landlord"), a Massachusetts limited liability company, having a principal place of business at 116 Flanders Road, Suite 2000, Westborough, Massachusetts 01581 and A123 SYSTEMS, INC. ("Tenant") a duly organized and existing Delaware corporation, having a principal place of business at 155 Flanders Road, Westborough, Massachusetts 01581.
W I T N E S S E T H
WHEREAS, Tenant and Landlord entered into a Lease ("Lease") dated July 16, 2010 for a total of 66,863 square feet ("Original Premises") at 155 Flanders Road, Westborough, Massachusetts, and
WHEREAS, Landlord and Tenant desire to increase the square footage by 22,120 square feet ("Expansion Premises I") and a total Premises of 88,983 square feet ("Total Premises") and to amend the Lease as more fully described hereinafter.
NOW THEREFORE, in consideration of the mutual promises herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree that the Lease shall be amended as follows:
1. Landlord and Tenant hereby incorporate all terms and provisions of the Lease herein as is specifically set forth, except as said terms are modified herein. Capitalized terms not specifically defined in this amendment shall have the same meaning given to terms in the Lease.
2. LEASE, ARTICLE 1.01, REFERENCE DATA:
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Tenant's Address: |
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Delete: |
"A123 Systems, Inc. |
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321 Arsenal Street |
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Watertown, MA 02472 |
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Attn: General Counsel |
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Telephone: |
617-778-5700 |
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Facsimile: |
617-924-8910 |
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With a copy to: |
Wilmer Cutler Pickering Hale and Dorr LLP |
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60 State Street |
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Boston, MA 02109 |
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Telephone: 617-526-6000 |
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Facsimile: 617-526-5000 |
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Email: [email protected] |
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Insert: |
"Mr. Phil McRae |
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Senior Manager, Massachusetts Facilities |
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A123 Systems, Inc. |
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200 West Street |
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Waltham, MA 02451 |
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Telephone: |
617-972-3419 |
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Facsimile: |
<> |
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Mobile: |
339-368-3841 |
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Email: |
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With a copy to: |
Paul Jakubowski, Esq. |
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Wilmer Cutler Pickering Hale and Dorr LLP |
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60 State Street |
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Boston, MA 02109 |
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Telephone: 617-526-6000 |
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Facsimile: 617-526-5000 |
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Email: [email protected] |
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B. |
Rentable Area of the Premises: |
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Delete: |
"66,863 Square Feet" |
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Insert: |
"Original Premises: |
66,863 Square Feet |
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Expansion Premises I: |
22,120 Square Feet as shown on Exhibit B-1 attached hereto. |
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Total Premises: |
88,983 Square Feet" |
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C. |
Term Commencement Date: |
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Delete: |
"The Term Commencement Date shall be as defined in Section 7.01. |
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Insert: |
"Original Premises: July 16, 2010. |
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Expansion Premises I: January 1, 2012." |
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D. |
Basic Rent (See Schedule Below): |
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Insert: |
"The Basic Rent Schedule for the Expansion Premises I: |
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"From |
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To |
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Monthly Rent |
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Annual Rent |
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01/01/2012 |
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12/31/2015 |
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$ |
11,060.00 |
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$ |
132,720.00 |
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01/01/2016 |
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01/31/2021 |
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$ |
12,903.33 |
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$ |
154,840.00 |
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E. Tenant's Share:
Delete: "75.24%"
Insert: "From 07/16/2010 to 12/31/2011: 75.24%
From 01/01/2012 to 01/31/2021: 100.00%"
F. Security Deposit:
Delete: "$155,983.32"
Insert: "From 07/16/2010 to 12/31/2011: $155,983.32
From 01/01/2012 to 01/31/2021: $207,596.64"
3. LEASE, ARTICLE 8, BUILDING SERVICES:
A. Article 8.01, Building Services; Maintenance:
Insert at the end of the last line:
", provided that Landlord shall not be required to repair or maintain any specialized systems installed by or for Tenant."
4. LEASE, ARTICLE 26, MISCELLANEOUS:
A Article 26.03, Brokerage:
Insert: "Tenant warrants and represents to Landlord that it has not exercised its Right of First Offer on Expansion Premises I and has had no dealings with any broker or agent in connection with this First Amendment to Lease Agreement and covenants to defend, with counsel approved by Landlord, hold harmless and indemnify Landlord from and against any and all cost, expense or liability for any compensation, commissions and charges claimed by any broker or agent."
B. Article 26.09, Expansion: Right of First Offer is hereby deleted in its entirety.
5. Tenant shall accept the Expansion Premises I in AS IS condition, (but broom-clean and free of occupants and claims of occupancy by other parties), except Landlord shall complete "Bel-Power Space Environmental Work" as provided in Exhibit C to the Lease.
6. Insert Exhibit B-1, showing Expansion Premises I.
7. Exhibit I, Parking:
Delete: "one hundred ninety four (194) unassigned parking spaces"
Insert: "from July 16, 2010 to December 31, , 2011: one hundred ninety four (194) unassigned parking spaces;
from January 1, 2012 to January 31, 2021: all of the parking spaces that exist on the Land."
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In all other respects, the Lease of July 16, 2010 is hereby ratified, confirmed, and approved.
No representations, inducement, promises or agreements, oral or otherwise, between Landlord and Tenant or any of their respective brokers, employees or agents, not embodied herein, shall be of any force or effect.
The submission of this First Amendment to Lease Agreement for examination, review, negotiation and/or signature shall not constitute an offer or an option to lease or a reservation of the Premises and is subject to withdrawal or modification at any time by either party. This First Amendment to Lease Agreement shall become effective and binding only if and when it shall be executed and delivered by both Landlord and Tenant.
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to Lease Agreement as of the date set forth above.
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LANDLORD: |
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FLANDERS 155 LLC |
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By: |
Carruth Capital, LLC |
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Its Manager |
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By: |
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Christopher F. Egan, President and Managing Member of Carruth Capital, LLC not individually and without personal liability. |
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TENANT: |
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A123 SYSTEMS, INC. |
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By: |
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Printed Name: |
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Title: |
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