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Title: |
Office Space Lease |
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Entities: |
Viasys Healthcare, Inc.; Morgan, Lewis & Bockius; Pepper Hamilton LLP; Washington Street Associates II, L.P.; Viasys Healthcare Inc. |
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Date: |
2001 |
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Size: |
Preview shows 10KB of 198KB total |
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Price: |
$52 |
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ID: |
#139937 |
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OFFICE SPACE LEASE
FOR
SUITE # 200, MILLENNIUM III
CONSHOHOCKEN, PENNSYLVANIA
BY AND BETWEEN
WASHINGTON STREET ASSOCIATES II, L.P.
(AS LANDLORD)
AND
VIASYS HEALTHCARE INC.
(AS TENANT)
Date: October 3, 2001
{PAGE}
TABLE OF CONTENTS
PAGE
----
1. DEFINITIONS......................................................... 1
2. PREMISES............................................................ 1
3. COMPLETION OF PREMISES.............................................. 1
4. COMMENCEMENT DATE................................................... 1
5. USE OF PREMISES..................................................... 1
6. FIXED BASIC RENT.................................................... 2
7. REAL ESTATE TAXES................................................... 2
8. OPERATING EXPENSES.................................................. 5
9. INTEREST AND LATE CHARGE............................................ 12
10. INSURANCE........................................................... 13
11. REPAIRS AND MAINTENANCE............................................. 16
12. UTILITIES AND SERVICES.............................................. 16
13. GOVERNMENTAL REGULATIONS............................................ 18
14. SIGNS............................................................... 18
15. ALTERATIONS, ADDITIONS AND FIXTURES................................. 18
16. MECHANIC'S LIENS.................................................... 19
17. LANDLORD'S RIGHT OF ENTRY........................................... 20
18. DAMAGE BY FIRE OR OTHER CASUALTY.................................... 21
19. NON-ABATEMENT OF RENT............................................... 22
20. INDEMNIFICATION..................................................... 22
21. CONDEMNATION........................................................ 23
22. QUIET ENJOYMENT..................................................... 24
23. RULES AND REGULATIONS............................................... 24
24. ASSIGNMENT AND SUBLEASE............................................. 25
25. [Intentionally Omitted]............................................. 28
26. SUBORDINATION....................................................... 28
27. CURING TENANT'S DEFAULTS............................................ 29
28. SURRENDER........................................................... 29
29. DEFAULTS-REMEDIES................................................... 29
30. CONDITION OF PREMISES............................................... 33
31. HAZARDOUS SUBSTANCES................................................ 33
32. RECORDING........................................................... 34
33. BROKERS' COMMISSION................................................. 34
34. NOTICES............................................................. 34
35. IRREVOCABLE OFFER: NO OPTION....................................... 35
36. INABILITY TO PERFORM................................................ 35
37. SURVIVAL............................................................ 36
38. AUTHORITY........................................................... 36
39. TENANT REPRESENTATIONS AND WARRANTIES............................... 36
40. WAIVER OF INVALIDITY OF LEASE....................................... 36
41. SECURITY DEPOSIT.................................................... 36
42. ESTOPPEL CERTIFICATE................................................ 37
43. RIGHTS RESERVED BY LANDLORD......................................... 37
-i-
{PAGE}
PAGE
----
44. MISCELLANEOUS....................................................... 38
45. ADDITIONAL DEFINITIONS.............................................. 39
-ii-
{PAGE}
THIS LEASE (the "Lease") is made the ____ day of October, 2001 between
WASHINGTON STREET ASSOCIATES, L.P. (herein referred to as "Landlord") whose
address is 700 South Henderson Road, Suite 225, King of Prussia, Pennsylvania
19406 and VIASYS HEALTHCARE INC. (herein referred to as "Tenant"), a Delaware
corporation whose address is 700 South Henderson Road, Suite 202, King of
Prussia, Pennsylvania, 19406.
PREAMBLE
BASIC LEASE PROVISIONS AND DEFINITIONS
In addition to other terms elsewhere defined in this Lease, the
following terms whenever used in this Lease shall have only the meanings set
forth in this Section, unless such meanings are expressly modified, limited or
expanded elsewhere in this Lease.
A. ADDITIONAL RENT shall mean all sums in addition to Fixed Basic Rent payable
by Tenant to Landlord pursuant to the provisions of the Lease.
B. BROKER(S) shall mean Tadley & Associates and OPG Advisors, LLC.
C. BUILDING shall mean the building known as Millennium III of the Millennium
Corporate Center (the "Project") located on the Property containing 69,414
rentable square feet of space as set forth on Exhibit C. The Building is also
identified as Unit B pursuant to that certain Declaration of Condominium of
Millennium, A Condominium dated October 18, 2000 and recorded October 20, 2000
in the Montgomery County Recorder of Deeds at Deed Book 335 page 2384 ET SEQ.
(the "Declaration").
D. BUILDING HOLIDAYS shall be those holidays listed on Exhibit D.
E. EXHIBITS shall be the following, attached to this Lease and incorporated in
this Lease and made a part of this Lease:
Exhibit A Premises
Exhibit B Legal Description of Property
Exhibit C Building Measurement
Exhibit D Work Letter
Exhibit E Building Holidays
Exhibit F Janitorial Specifications
Exhibit G Rules and Regulations
Exhibit H Tenant Estoppel Certificate
Exhibit I Confirmation of Lease Term
Exhibit J Competitors
Exhibit K Additional Space Plans and Specifications
{PAGE}
FIXED BASIC RENT shall be calculated and payable as follows:
Rate Per
Rentable Rentable Yearly Monthly
Months Sq. Ft. Sq. Foot Rate Installment
(net of utilities)
1-3 7,964 $ 0.00 None None
4-15 7,964 $ 32.50 $ 258,830.00 $ 21,569.17
16-27 7,964 $ 33.00 $ 262,812.00 $ 21,901.00
28-39 7,964 $ 33.50 $ 266,794.00 $ 22,232.83
40-51 7,964 $ 34.00 $ 270,776.00 $ 22,564.67
52-63 7,964 $ 34.50 $ 274,758.00 $ 22,896.50
F. OPERATING EXPENSES STOP shall mean Four Dollars ($4.00) per rentable square
foot of the Premises.
G. PERMITTED USE shall be general office use and for no other purpose, subject
to all applicable laws and all rules and regulations of the Building and
insurers of the Building.
H. PREMISES shall be approximately seven thousand nine hundred sixty four
(7,964) rentable square feet on the second level of the Building as shown on
Exhibit A. The measurement of the Premises is as set forth on Exhibit C.
I. PROPERTY shall mean the buildings (including the Building) in the Project and
the lot, tract or parcel of land on which the buildings are situated and all
improvements thereto as more particularly described on Exhibit B attached hereto
which is subject to the Declaration.
J. REAL ESTATE TAXES STOP shall mean One and 50/100 Dollars ($1.50) per rentable
square foot of the Premises.
K. RENT COMMENCEMENT DATE shall mean that date which is three (3) months next
following the Commencement Date.
L. SECURITY DEPOSIT shall be the sum of $64,707.51 which shall be held in
accordance with Section 41 of the Lease.
M. TARGET DATE shall be November 16, 2001, provided this Lease has been executed
and delivered by the Tenant on or before October 5, 2001. In the event the
Tenant fails to execute this Lease on or before October 5, 2001, then the Target
Date shall be extended one (1) day for each one (1) business day after October
5, 2001 until such time as the Tenant executes and delivers this Lease to
Landlord.
N. TENANT'S OPERATING EXPENSES SHARE shall mean 11.47 percent.
O. TENANT'S TAX SHARE shall mean 11.47 percent.
P. TERM shall mean the period of time commencing on the Commencement Date (as
defined in Section 4 of the Lease) and ending on the date which is five (5)
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