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Document Preview Sublease Agreement |
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Title: |
Sublease Agreement |
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Entities: |
Advanced Thermal Sciences Corp; BE Aerospace Inc.; Kilroy Realty Corp.; Kilroy Realty, LP |
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Date: |
2000 |
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Size: |
Preview shows 6KB of 24KB total |
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Price: |
$42 |
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ID: |
#1362619 |
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Sublease Agreement
This Sublease Agreement ("Sublease") is made as of the first day of
August 2000 by and between BE Aerospace, Inc., a Delaware corporation (herein
"Sublandlord") and Advanced Thermal Technologies Inc., a Delaware corporation
and wholly owned subsidiary of BE Aerospace, Inc. (herein "Subtenant").
RECITALS
This Sublease is made with regard to the following facts:
A. Sublandlord is the tenant under the Standard
Industrial/Commercial Single-Tenant Lease-Net (herein the "Master Lease"), dated
October 1998, with Kilroy Realty, L.P., a Delaware limited partnership (herein
the "Master Landlord"). A copy of that Master Lease is attached to this Sublease
and marked as Exhibit A. Under the Master Lease, Sublandlord leases Building 5
of Anaheim Technology Center located at 3355 East La Palma Avenue, Anaheim,
California, 92806, which includes approximately 98,200 square feet of Floor
Area, as improved, the Exclusive Use Areas and the Lessee Parking Areas (as such
terms are defined in the Master Lease), which building and areas are
collectively referred to herein as the "Premises".
B. Subtenant desires to sublease from Sublandlord a portion of
the Premises for Subtenant's exclusive use and occupancy, as well as the
nonexclusive use of the Premises' corridors, hallways, stairwells, elevators,
lobby(s), lunch rooms, conference and meeting rooms, shipping and receiving
docks, Exclusive Use Areas and Lessee Parking Areas (collectively the "Subleased
Premises"), which Subleased Premises are more particularly described in Exhibit
B attached to this Sublease. Sublandlord has agreed to sublease the Subleased
Premises to Subtenant on the terms, covenants and conditions stated in this
Sublease.
NOW, THEREFORE, in consideration of the mutual covenants contained in
this Sublease, and for valuable consideration, the receipt and sufficiency of
which are acknowledged by the parties, the parties agree as follows:
1. Sublease. Sublandlord subleases to Subtenant and
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<PAGE> 2
Subtenant subleases from Sublandlord the Subleased Premises, subject to the
terms, covenants, and conditions contained in this Sublease. Sublandlord and
Subtenant agree that the Subleased Premises shall, among other things, contain
up to 20,000 square feet of Floor Area for Subtenant's exclusive use and
occupancy as more particularly described in Exhibit B attached to this Sublease.
2. Term. The terms and provisions of this Sublease shall be
effective between Sublandlord and Subtenant as of the date of this Sublease. The
term of this Sublease will commence on August 01, 2000, and will expire July 31,
2005, unless sooner terminated by Subtenant upon six (6) months written notice
to Sublandlord.
3. Rent. Subtenant will pay rent during the term of this Sublease in
the amount of $25,000.00 dollars per month ("Rent"), payable monthly in advance
on the first business day of each month. Furthermore, in the event that the term
of this Sublease begins or ends on a date that is not the first day of a month,
Rent will be prorated as of that date.
The monthly Rent payable under this section of the Sublease is
inclusive of all real property taxes relating to the Subleased Premises, all
operating, utility, security, janitorial and maintenance costs and expenses
relating to Subtenant's use and occupancy of the Subleased Premises, the
premises' common areas, the Exclusive Use Areas and the Lessee Parking Areas, as
well as all premiums and costs for real property insurance covering the Premises
and the Subleased Premises. Concurrent with Subtenant's execution of this
Sublease, Subtenant will deliver to Sublandlord the first month's Rent in the
amount of $25,000.00.
4. Additional Rent. Subtenant acknowledges that during the term of this
Sublease should it need more than 20,000 square feet of Floor Area (as defined
in the Master Lease) for its exclusive use and occupancy and/or adds a second or
third shift to its manufacturing operations, then rent, in additional to the
Rent set forth in section 3 above, would be due from it to Sublandlord.
The amount of the additional rent will be mutually agreed to
by Sublandlord and Subtenant and will relate to the amount of additional Floor
Area needed by Subtenant and/or the increase in operating, utility, janitorial,
maintenance,
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<PAGE> 3
security expenses attributed to a second or third shift. If Subtenant and
Sublandlord are unable to agree to the amount of additional rent, then such
issue shall be promptly submitted by the parties to this Sublease to binding
arbitration through the American Arbitration Association, which entity shall
decide the issue using a panel of three arbitrators in accordance with its
standard rules and procedures. The cost of the arbitration shall be borne
equally by Subtenant and Sublandlord. Subtenant agrees to pay the additional
rent to Sublandlord monthly along with the Rent due under section 3 of this
Sublease.
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