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Document Preview Agreement of Lease |
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Title: |
Agreement of Lease |
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Entities: |
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Date: |
2006 |
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Size: |
127KB total |
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Price: |
$55 |
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ID: |
#2655485 |
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Start of Preview |
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AGREEMENT OF LEASE
(Pre-Built Suite)
By and Between
424 WEST 33rd STREET LLC, as Landlord
and
International Fight League, Inc., as Tenant
covering a portion of the 6th floor
at premises 424 WEST 33rd STREET, NEW YORK, NEW YORK
TABLE OF CONTENTS
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Definitions and Summary of Fundamental Lease Terms |
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2. |
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Base Rent; Rent Commencement Date; Late Charges |
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3. |
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Escalation For Real Estate Taxes |
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4. |
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Security Deposit |
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5. |
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Use and Occupancy |
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6. |
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Utilities and Services |
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7. |
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Condition of Premises |
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8. |
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Alterations during Term; Maintenance and Repairs to Premises |
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9. |
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Insurance |
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10 |
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Indemnities |
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1l. |
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Damage or Destruction |
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12. |
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Assignment and Subleasing |
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13. |
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Defaults and Remedies |
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14. |
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Provisions relating to Termination of Lease |
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Eminent Domain |
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Subordination; Attornment; Rights of Mortgagee; Amendment |
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17. |
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Estoppel Certificates |
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18. |
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Rules and Regulations |
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19. |
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Bankruptcy |
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20. |
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Notices |
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21. |
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Miscellaneous |
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Exhibit A |
Floor Plan of Premises (1.6) |
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Exhibit B |
Rules and Regulations (Article 18) |
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Exhibit C |
Guarantee |
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LEASE AGREEMENT (the Lease) made and entered into between 424 WEST 33rd STREET LLC, a New York limited liability company, as landlord (Landlord), and the person or entity described below as Tenant. In consideration of the rents and covenants hereinafter set forth, Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises described below upon the following terms and conditions:
ARTICLE 1. DEFINITIONS AND SUMMARY OF FUNDAMENTAL LEASE TERMS
The following sets forth certain fundamental facts and definitions relating to this Lease:
1.1. Date of Lease: as of August , 2006.
1.2. Landlord: 424 West 33rd Street LLC, a New York limited liability company.
1.3. Tenant: International Fight League, Inc., a Delaware corporation having an office at 1010 Sixth Avenue, 3rd Floor, New York, New York 10018.
1.4. Tenants Trade Name: None.
1.5. Building: 424 West 33rd Street, New York, New York.
1.6. Premises: Suite 650, on the sixth (6th) floor of the Building, as more particularly designated on Exhibit A annexed.
1.7. Permitted Use: Executive, administrative and general offices.
1.8. Term: approximately four (4) years, beginning on the Commencement Date and ending on the Expiration Date, unless sooner terminated in accordance with this Lease.
1.9. Commencement Date: September 1, 2006.
1.10. Expiration Date: August 31, 2010.
1.11. Rent Commencement Date: November 1, 2006. If such date is not the first of a month, rent will be pro-rated for the month in which it occurs.
1.42. Guarantor: Gareb Shamus, an individual having a residential address at 24 North Brae Court, Tenafly, New Jersey 07670.
1.13. Security Deposit: an amount equal to eight (8) months Base Rent at the rate from time to time in effect, initially $107,152.00; provided, however, that the amount of the Security Deposit shall be an amount equal to six (6) months Base Rent at the rate from time to time in effect from and after the date on which Landlord receives financial information, reasonably satisfactory to Landlord and audited by a certified public accountant, that Tenants regular business operations, reported on an accrual basis and otherwise in accordance with generally accepted accounting principles, are generating, for a period of not less than one calendar quarter, revenue equal to or greater than expenses.
1.14. Base Rent (includes Electricity Inclusion Factor) shall mean the amount set forth in the table below, subject to any escalation set forth in this Lease:
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Lease |
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Lease Year |
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Lease Year |
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Base Annual |
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Base Monthly |
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Year |
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Beginning |
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Ending |
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Rent |
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Rent |
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1 |
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September 1, 2006 |
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August 31, 2007 |
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$ |
160,728.00 |
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$ |
13,394.00 |
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2 |
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September 1, 2007 |
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August 31, 2008 |
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$ |
160,728.00 |
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$ |
13,394.00 |
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3 |
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September 1, 2008 |
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August 31, 2009 |
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$ |
169,416.00 |
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$ |
14,118.00 |
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4 |
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September 1, 2009 |
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August 31, 2010 |
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$ |
169,416.00 |
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$ |
14,118.00 |
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Notwithstanding the foregoing provisions of this 1.14, Tenant shall pay Base Rent at the reduced rate of $1,086.00 per month, representing the Electricity Inclusion Factor, from the Commencement Date through and including the date immediately preceding the Rent Commencement Date.
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