|
|
|
|
Document Preview Agreement of Lease |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Agreement of Lease |
|||
|
Entities: |
Chase Manhattan Bank; Directrix, Inc.; Playboy Enterprises Inc; Playboy Enterprises, Inc. |
|||
|
Date: |
2001 |
|||
|
Size: |
Preview shows 23KB of 270KB total |
|||
|
Price: |
$72 |
|||
|
ID: |
#1289583 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
<SEQUENCE>5
<FILENAME>ex10-3a.txt
<DESCRIPTION>AGREEMENT OF LEASE
<TEXT>
AGREEMENT OF LEASE
between
Kingston Andrita LLC,
Landlord
and
Playboy Entertainment Group, Inc.,
Tenant
Dated as of September 20, 2001
Premises
3030 Andrita Street, Los Angeles, California
Neither this draft lease, nor any other draft lease, nor any correspondence,
writings, communications or other documents delivered or exchanged between
Landlord and Tenant shall be deemed to be an offer or agreement to lease or to
enter into a lease, on the terms set forth herein or otherwise and no lease, or
agreement to lease, shall be binding on either party except and until as set
forth in Section 35.15 of this draft.
Page
ARTICLE 1 DEMISE OF PREMISES AND DURATION OF LEASE ........................ 1
Section 1.1. Demise of Premises ................................ 1
Section 1.2. Duration of Lease ................................. 1
Section 1.3. Existing Leases ................................... 2
ARTICLE 2 RENT ............................................................ 4
Section 2.1. Time and Place of Payment ......................... 4
Section 2.2. Base Rent ......................................... 4
Section 2.3. Proration of Base Rent ............................ 8
Section 2.4. Abatement, Deduction, Counterclaim and Offset ..... 8
Section 2.5. All Amounts Deemed Rent ........................... 8
ARTICLE 3 IMPOSITIONS ..................................................... 8
Section 3.1. Payment of Impositions ............................ 8
Section 3.2. Income or Franchise Tax of Landlord ............... 10
Section 3.3. Evidence of Payment ............................... 10
Section 3.4. Apportionment of Impositions ...................... 10
Section 3.5. Contest of Real Property Tax Assessments
and Impositions ................................... 11
ARTICLE 4 Intentionally Omitted ........................................... 12
ARTICLE 5 LATE CHARGES .................................................... 12
ARTICLE 6 INSURANCE ....................................................... 13
Section 6.1. Insurance Requirements ............................ 13
Section 6.2. Additional Insureds ............................... 17
Section 6.3. Policy Limits Review .............................. 17
Section 6.4. Treatment of Proceeds ............................. 17
Section 6.5. Insurance Carriers and Form of Policies ........... 18
Section 6.6. Payment of Premiums ............................... 18
Section 6.7. Cooperation in Collection of Proceeds ............. 18
Section 6.8. Intentionally omitted ............................. 18
Section 6.9. Waiver of Subrogation ............................. 18
Section 6.10. Compliance With Policy Requirements ............... 18
Section 6.11. Required Insurance Policy Clauses ................. 19
Section 6.12. Landlord's Insurance .............................. 19
ARTICLE 7 DAMAGE, DESTRUCTION AND RESTORATION ............................. 19
Section 7.1. Notice to Landlord ................................ 19
Section 7.2. Casualty Restoration .............................. 19
Section 7.3. Termination Options ............................... 20
Section 7.4. Repair Delays ..................................... 21
Section 7.5. Effect of Casualty on this Lease .................. 21
Section 7.6. Waiver of Rights Under Statute .................... 21
ARTICLE 8 CONDEMNATION .................................................... 21
Section 8.1. Substantial Taking ................................ 21
Section 8.2. Less Than A Substantial Taking .................... 22
Section 8.3. Temporary Taking .................................. 23
Section 8.4. Right to Terminate at End of Term ................. 23
Section 8.5. Termination Pursuant to This Article .............. 23
Section 8.6. Disputes .......................................... 23
Section 8.7. Collection of Awards .............................. 23
Section 8.8. Separate Claim .................................... 24
Section 8.9. Waiver by Tenant .................................. 24
Section 8.10. Fee Mortgage ...................................... 24
ARTICLE 9 ASSIGNMENT, TRANSFER AND SUBLETTING ............................. 24
Section 9.1. No Right to Assign, Transfer ...................... 24
Section 9.2. Permitted Assignments and Sublettings ............. 24
Section 9.3. Collection of Rent by Landlord .................... 27
Section 9.4. Permitted Licenses ................................ 27
Section 9.5. Sublease/License Assignment ....................... 28
Section 9.6. Required Sublease Clauses ......................... 28
Section 9.7. Landlord's Sale or Conveyance ..................... 28
ARTICLE 10 MORTGAGES ...................................................... 29
Section 10.1. Tenant's Right to Mortgage ........................ 29
Section 10.2. Landlord's Right to Mortgage ...................... 30
Section 10.3. Subordination ..................................... 31
ARTICLE 11 LANDLORD'S AND TENANT'S MAINTENANCE AND REPAIR OBLIGATIONS;
UTILITIES ...................................................... 32
Section 11.1. Maintenance of the Premises, Etc. ................. 32
Section 11.2. Free of Dirt, Etc. ................................ 33
Section 11.3. No Obligation to Supply Utilities ................. 33
Section 11.4. Window Cleaning ................................... 33
ARTICLE 12 CHANGES, ALTERATIONS AND ADDITIONS ............................. 33
Section 12.1. Tenant's Right to Make Alterations ................ 33
Section 12.2. No Reduction in Value of Premises ................. 33
Section 12.3. Compliance with Governmental Requirements ......... 33
Section 12.4. Insurance Requirements ............................ 33
Section 12.5. Contractor's Bond ................................. 34
Section 12.6. Removal ........................................... 34
Section 12.7. Exterior Signs .................................... 34
ARTICLE 13 REQUIREMENTS OF GOVERNMENTAL AUTHORITIES ....................... 35
Section 13.1. Obligation to Comply With Requirements ............ 35
Section 13.2. Contest of Requirements by Tenant ................. 35
Section 13.3. Sharing of Costs .................................. 36
ARTICLE 14 DISCHARGE OF LIENS; BONDS ...................................... 36
Section 14.1. Creation of Liens ................................. 36
Section 14.2. Discharge of Liens ................................ 37
Section 14.3. No Authority to Contract in Name of Landlord;
Notice of Completion .............................. 37
ARTICLE 15 LANDLORD'S WORK ................................................ 37
Section 15.1. Landlord's Work ................................... 37
Section 15.2. No Representations as to Premises ................. 44
SECTION 15.3.(a) Unused Playboy Allowance .......................... 44
Section 15.4. Landlord's Costs .................................. 48
Section 15.5. Disputes .......................................... 48
ARTICLE 16 LIMITATION OF LANDLORD'S LIABILITY ............................. 48
ARTICLE 17 INDEMNIFICATION OF LANDLORD AND TENANT ......................... 49
Section 17.1. Tenant's Obligation to Indemnify .................. 49
Section 17.2. Contractual Liability ............................. 50
Section 17.3. Landlord's Obligation to Indemnify ................ 50
Section 17.4. Defense of Claim, Etc. ............................ 50
Section 17.5. Survival Clause ................................... 50
ARTICLE 18 RIGHT OF ENTRY AND INSPECTION .................................. 50
Section 18.1. Permission to Enter Premises ...................... 50
Section 18.2. No Liability of Landlord for Disturbance .......... 51
ARTICLE 19 PARTY'S RIGHT TO PERFORM THE OTHER'S COVENANTS ................. 51
Section 19.1. Landlord's Right to Perform Tenant's Obligations .. 51
Section 19.2. Alterations ....................................... 51
Section 19.3. Right to Reimbursement ............................ 52
Section 19.4. Discharge of Liens ................................ 52
Section 19.5. Reimbursement For Amounts Paid by Landlord
Pursuant to this Article .......................... 52
Section 19.6. Waiver, Release and Assumption of Obligations ..... 52
Section 19.7. Proof of Damages .................................. 52
Section 19.8. Tenant's Right to Perform Landlord's Obligations .. 52
Section 19.9. Amounts owed by Landlord to Tenant ................ 53
ARTICLE 20 PERMITTED USE; NO UNLAWFUL OCCUPANCY ........................... 53
Section 20.1. Type of Use ....................................... 53
Section 20.2. Prohibited Uses ................................... 53
Section 20.3. Restriction of Public Use ......................... 53
Section 20.4. Hazardous Materials ............................... 54
ARTICLE 21 EVENTS OF DEFAULT, CONDITIONAL LIMITATIONS, REMEDIES, ETC. ..... 56
Section 21.1. Events of Default ................................. 56
Section 21.2. Enforcement of Performance ........................ 58
Section 21.3. Remedies .......................................... 58
Section 21.4. Intentionally Omitted ............................. 59
Section 21.5. Intentionally Omitted ............................. 59
Section 21.6. Receipt of Monies after Notice or Termination ..... 59
Section 21.7. Waiver of Service ................................. 60
Section 21.8. Strict Performance ................................ 60
Section 21.9. Landlord's Right to Enjoin Defaults or
Threatened Defaults ............................... 60
Section 21.10. Tenant's Payment of All Costs and Expenses ........ 60
Section 21.11. Rights and Remedies Cumulative .................... 61
ARTICLE 22 NOTICES ........................................................ 61
Section 22.1. All Notices, Communications, etc., in Writing ..... 61
Section 22.2. Service ........................................... 61
ARTICLE 23 Intentionally Omitted .......................................... 62
ARTICLE 24 Intentionally Omitted .......................................... 62
ARTICLE 25 EXCAVATIONS AND SHORING ........................................ 62
ARTICLE 26 CERTIFICATE OF TENANT AND LANDLORD ............................. 62
ARTICLE 27 CONSENTS AND APPROVALS ......................................... 62
Section 27.1. Effect of Granting or Failure to Grant
Approvals or Consents ............................. 62
Section 27.2. Remedy for Refusal to Grant Consent or
Approval .......................................... 63
ARTICLE 28 SURRENDER AT END OF TERM ....................................... 63
ARTICLE 29 NO OTHER AGREEMENTS ............................................ 64
ARTICLE 30 QUIET ENJOYMENT ................................................ 64
ARTICLE 31 ARBITRATION .................................................... 64
Section 31.1. Notice ............................................ 64
Section 31.2. Arbitration Procedure ............................. 65
Section 31.3. Article 27 Arbitrations ........................... 65
Section 31.4. Article 15 Arbitrations ........................... 65
Section 31.5. Power of Arbitrators .............................. 65
ARTICLE 32 INVALIDITY OF CERTAIN PROVISIONS ............................... 66
ARTICLE 33 NO RECORDING OF LEASE .......................................... 66
ARTICLE 34 CERTAIN DEFINITIONS ............................................ 66
ARTICLE 35 MISCELLANEOUS .................................................. 68
Section 35.1. Captions .......................................... 68
Section 35.2. Table of Contents ................................. 68
Section 35.3. Reference to Landlord and Tenant .................. 68
Section 35.4. Relationship of Landlord and Tenant ............... 68
Section 35.5. Person Acting on Behalf of a Party ................ 68
Section 35.6. Landlord's Liability .............................. 68
Section 35.7. Landlord's Remedies Cumulative .................... 68
Section 35.8. No Termination .................................... 69
Section 35.9. No Third Party Beneficiary ........................ 69
Section 35.10. Waiver, Modification, Etc. ........................ 69
Section 35.11. Governing Law ..................................... 69
Section 35.12. Successors and Assigns ............................ 69
Section 35.13. Broker ............................................ 69
Section 35.14. Landlord as Contract Vendee ....................... 70
Section 35.15. Submission not an Offer ........................... 70
Section 35.16. Counterparts ...................................... 70
ARTICLE 36 RIGHT OF FIRST OFFER ........................................... 70
Section 36.1. Landlord to Offer Premises to Tenant .............. 70
Section 36.2. Tenant's Exercise of Right ........................ 71
Section 36.3. Tenant's Additional Right ......................... 71
Section 36.4. Certain Transfers Excluded ........................ 71
Section 36.5. Right Terminates .................................. 72
Section 36.6. Release ........................................... 72
Exhibit "A" Description of Land
Exhibit "B" Title Matters
Exhibit "C" Directrix Sublease
Exhibit "D" Directrix SNDA
Exhibit "E" Landlord's Work
Exhibit "E-1" Studio A Operational Condition
Exhibit "E-2" Work in Excess of the Work Letter Standard
Exhibit "E-3" Proposed Construction Contract Provisions
Exhibit "F" Studio A Floor Plan
Exhibit "F-1" Master Control Room Floor Plan
Exhibit "F-2" Dressing Room and Control Room Areas Floor Plan
Exhibit "F-3" Substitute FX Space
Exhibit "F-4" FX Space and Tanna Space
Exhibit "G" License Agreement Form
Exhibit "H" Form of SNDA from Landlord's Mortgagee
Exhibit "I" Article 15 Arbitrators
Exhibit "J" Insurance for Landlord's Work
Exhibit "K" Assignment and Assumption Agreement
Exhibit "L" Property Tenant May Remove
Exhibit "M" Form of Guaranty
AGREEMENT OF LEASE, made as of the 20th day of September, 2001, between
KINGSTON ANDRITA LLC, as landlord ("Landlord"), a Delaware limited liability
company having an office c/o Kingston Investors Corp., 135 East 57th Street, New
York, New York 10021, and PLAYBOY ENTERTAINMENT GROUP, INC., as tenant
("Tenant"), a Delaware corporation, having an office at 9242 Beverly Boulevard,
Beverly Hills, California 90210.
W I T N E S S E T H:
It is hereby mutually covenanted and agreed by and between the parties
that this Lease is made upon the terms, covenants and conditions hereinafter set
forth.
ARTICLE 1
DEMISE OF PREMISES AND DURATION OF LEASE
Section 1.1. Demise of Premises. (a) Landlord hereby demises and leases to
Tenant, and Tenant hereby hires and takes from Landlord all those certain
parcels of land located in Los Angeles, California, more particularly described
in Exhibit "A", annexed hereto and made a part hereof, together with all
buildings, structures and improvements, if any, situate thereon and all
easements, appurtenances and other rights pertaining thereto (collectively, the
"Building") ("Premises") and further subject to those matters affecting title
("Title Matters") set forth in Exhibit "B", annexed hereto and made a part
hereof.
Section 1.2. Duration of Lease.
(a) The term of this Lease ("Term") shall commence on the earliest of (i)
the date on which Tenant or Directrix, Inc. ("Directrix") first takes possession
and uses or occupies all or any portion of the Premises for the conduct of
business (the "First Possession Date"), and (ii) the date (the "Studio A
Delivery Date") on which that certain studio, as more particularly described in
Exhibit F attached hereto, ("Studio A") first is in "operational condition" (as
determined pursuant to Article 15 below), and (iii) the date (the "Substantial
Completion Date") the Premises shall first be available for occupancy as
determined pursuant to Section 1.2(b) below (the earliest of the First
Possession Date, the Studio A Delivery Date and the Substantial Completion Date
being hereinafter referred to as the "Commencement Date"), and shall end on the
day preceding the fifteenth (15th) anniversary of the Substantial Completion
Date (the "Expiration Date") or until such term shall sooner cease and terminate
as herein provided. When the Commencement Date has been determined, at
Landlord's or Tenant's request, Landlord and Tenant shall within ten (10) days
after such request, execute a written agreement, in form reasonably satisfactory
to Landlord and Tenant, confirming the Commencement Date. Any failure of
Landlord or Tenant to send, or Landlord or Tenant to execute, such written
agreement shall not affect the validity of the Commencement Date as fixed and
determined pursuant to the terms and conditions of this Lease.
(b) For the purposes of this Lease, the Premises shall be conclusively
deemed "available for occupancy" on the date upon which Landlord's Work (as
defined in Article 15 hereof) shall be substantially completed (other than with
respect to the Tanna Space and the FX Space), as determined in accordance with
the provisions of Article 15.
(c) Tenant shall accept possession of the Premises in its "as is"
condition, subject only to (i) the completion by Landlord of Landlord's Work
substantially in accordance with the Construction Drawings, (ii) Landlord's
obligation to complete any incomplete or defective work, to the extent provided
in Section 15.1(d) below, (iii) Landlord's correction of latent defects of which
Landlord receives notice within one (1) year following the Commencement Date,
and (iv) subject to the immediately following sentence, Landlord's correction of
defects in Landlord's Work which are covered by any warranty obtained by
Landlord (but only for so long as such defects are covered by such warranty and
for so long as Landlord is entitled to enforce such warranty). To the extent
that the same are assignable to Tenant, Landlord shall require that any
warranties obtainable by Landlord with respect to Landlord's Work be assigned to
Tenant (other than warranties that relate to portions of Landlord's Work that
are covered by Landlord's maintenance and repair obligations under Article 11
below), and Landlord shall use commercially reasonable efforts to cause such
warranties to be assignable to Tenant (if there will be an additional cost in
order to have any of such warranties be assignable to Tenant, Landlord will
|
End of Preview |
Home Intelligence Services Subscriptions News About Us