Loudeye Corp. Contracts
Sample Business Contracts
Washington-Seattle-414 Olive Way Lease [Amendment No. 1] - Times Square Building LLC and Loudeye Technologies 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 OF OFFICE LEASE AGREEMENT
This First Amendment of Office Lease Agreement ("First Amendment") is entered
into as of the 3rd day of April 2000 between TIMES SQUARE BUILDING L.L.C., a
Washington limited liability company ("Landlord"), and LOUDEYE TECHNOLOGIES.
INC., a(n) Delaware corporation ("Tenant"). Landlord and Tenant agree to all
of the following terms, including the Recitals.
SECTION 1: RECITALS
1.1 Landlord and Tenant entered into a certain lease dated the 10th day of
August 1999, (the "Lease") of certain premises located on floor(s) 3, 4
and Lower Mezzanine of the Times Square Building (the "Building").
1.2 On October 14, 1999 ("Exercise Date") the Tenant exercised the Expansion
Option as provided in Section 1 of Exhibit E to the Lease relating to the
Fifth Floor and the Fifth Floor Mezzanine ("Fifth Floor Space").
1.3 Tenant subsequently changed its name to "Loudeye Technologies, Inc."
1.4 On April 3, 2000 Landlord delivered possession of the Fifth Floor Space to
Tenant.
1.5 Landlord and Tenant desire to amend the Lease to expand the premises to
include the Fifth Floor Space.
1.6 Unless otherwise provided in this First Amendment, all defined terms shall
have the definition set forth in the Lease.
SECTION 2: LEASE AMENDMENTS
2.1 Effective April 3, 2000 the following Subsections of Section 1 shall read
as follows:
(b) PREMISES: The Premises consists of the areas on the 3rd, 4th, 5th and
5th floor Mezzanine and Lower Mezzanine floor(s) of the Building,
known as Suite No. 400, which is cross-hatched on the floor plan(s)
attached hereto as Exhibit A and L, including additional Improvements
(if any) set forth on Exhibit B (with respect to floors 3, 4 and lower
mezzanine which have been completed) and Exhibit M (with respect to
the Fifth Floor Space). For the purposes of this Lease the agreed net
rentable area of the Premises is 35,181* square feet. *(3rd floor =
9,231 square feet, 4th floor = 9,231 square feet, Fifth Floor Space =
14,056 square feet and Lower Mezzanine = 2,663 square feet)
(e) TENANT'S PERCENTAGE: As used in this Lease, Landlord and Tenant agree
that Tenant's Percentage of the Office Complex is 71.01%.
(f) TERM: The term of this Lease shall commence on the following dates:
for the 3rd and 4th premises on August __, 1999; for the Lower
Mezzanine premises on October 1, 1999; for the Fifth Floor Space on
April 3, 2000. The term of this Lease shall expire on May 31, 2005 for
all of the premises unless sooner terminated as provided herein.
(g) BASE RENT: The following amounts for the following periods, payable
on or before the first day of each calendar month:
For the third floor Premises:
Applicable Period Monthly Base Rent Amount
----------------- ------------------------
08/__/99 - 09/30/99 $ 0.00
10/01/99 - 10/31/00 $17,308.00
11/01/00 - 10/31/01 $17,693.00
11/01/01 - 10/31/02 $18,078.00
11/01/02 - 10/31/03 $18,456.00
11/01/03 - 5/31/05 $18,847.00
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For the fourth floor Premises:
Applicable Period Monthly Base Rent Amount
----------------- ------------------------
09/1/99 - 10/31/99 $ 0.00
11/01/00 - 10/31/00 $17,308.00
11/01/00 - 10/31/01 $17,693.00
11/01/01 - 10/31/02 $18,078.00
11/01/02 - 10/31/03 $18,456.00
11/01/03 - 5/31/05 $18,847.00
For the Lower Mezzanine Premises
Applicable Period Monthly Base Rent Amount
----------------- ------------------------
10/01/99 - 10/31/99 $ 0.00
11/01/00 - 05/31/05 $3,329.00
For the fifth floor Premises:
Applicable Period Monthly Base Rent Amount
----------------- ------------------------
04/3/00 - 05/31/00 $ 0.00
06/1/00 - 5/31/01 $26,941.00
06/1/01 - 5/31/02 $27,526.00
06/1/02 - 5/31/03 $28,112.00
06/1/03 - 5/31/04 $28,698.00
06/1/04 - 5/31/05 $29,287.00
(h) BASE YEAR: The Base Year for the Lower Mezzanine, 3rd and 4th floors
is calendar year 1999. The Base Year for the Fifth Floor Space is
calendar year 2000.
(i) PREPAID RENT DEPOSIT: Tenant has deposited with Landlord $57,945 with
respect to 3rd Floor, 4th Floor and Lower Mezzanine and $26,941.00
with respect to the Fifth Floor Space to be applied to Base Rent due
hereunder.
(j) SECURITY DEPOSIT: An Irrevocable Letter of Credit in form and
substance acceptable to Landlord with a revised expiration date of May
31, 2005 in the amount of $350,000.00; until October 31, 2000, at
which time it may be reduced to $300,000.00; until October 31, 2001,
at which time it may be reduced to $250,000.00; until October 31,
2002, at which time it may be reduced to $150,000.00; until October
31, 2003, at which time it may reduced to $100,000.00 for the duration
of the Lease term, plus $56,224.00 as a Security Deposit. The Letter
of Credit is in the form of Exhibit K -- Amendment of Letter of
Credit, attached hereto.
(m) EXHIBITS: The following exhibits or riders are made a part of this
Lease with respect to the Fifth Floor Space:
Exhibit A - Floor Plan of Premises - 3rd, 4th and Lower Mezzanine
Exhibit
B - 1 Additional Landlord Improvements
B - 2 Tenant Improvement Requirement
B - 3 Final Agreed Plans
B - 4 Tenant's Allowance
Exhibit C - Legal Description of the Land
Exhibit D - Rules and Regulations
Exhibit E - Non-Standard Section
Exhibit F - Operating Cost Exclusion
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Exhibit G - Contractors Indemnification Agreement - 3rd, 4th and
Lower Mezzanine
Exhibit H - Expansion Area -- no longer applicable
Exhibit I - Satellite Antenna Agreement
Exhibit J - Letter of Credit -- no longer applicable
Exhibit K - Amendment Letter of Credit
Exhibit L - Floor Plan of Premises -- 5th Floor Space
Exhibit M - 1 Tenant Improvement Requirement - 5th Floor Space
M - 2 Final Agreed Plans - 5th Floor Space
M - 3 Tenant's Allowance - 5th Floor Space
Exhibit N - Contractors Indemnification Agreement - 5th Floor
Space
2.2 This First Amendment and the Exhibits attached hereto incorporate the
provisions of Section 1 of Exhibit "E" to the Lease which effectuates the
provisions thereof. Section 1 of Exhibit "E" is hereby deemed terminated
except to the extent expressly set forth in this First Amendment.
SECTION 3: MISCELLANEOUS
3.1 Each of the parties represents that (1) it has the full right, power and
authority to enter into this First Amendment, (2) all of the individuals
signing this First Amendment on behalf of each party have the authority to
do so and (3) the signatures below are all that are needed from the party
for whom the signatures are given in order to make this First Amendment
fully binding upon each party.
3.2 Except as specifically modified hereby, all terms of the Lease remain in
full force and effect.
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<PAGE>
LANDLORD: TENANT:
TIMES SQUARE BUILDING L.L.C. LOUDEYE TECHNOLOGIES, INC.
By: /s/ Mark Houtchens By: /s/ Dave Bullis
----------------------------------- ----------------------------------
Mark Houtchens David Bullis
Its: Authorized Agent Its: President and COO
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