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Document Preview Lease Renewal Amendment |
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Title: |
Lease Renewal Amendment |
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Entities: |
Comdisco Holding Co. Inc.; General Electric Capital Corp.; La Jolla Pharmaceutical Co. |
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Date: |
2003 |
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Size: |
7KB total |
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Price: |
$38 |
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ID: |
#281415 |
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LEASE RENEWAL AMENDMENT
1045179-001
THIS LEASE RENEWAL AMENDMENT dated as of July 1, 2003 ("Amendment")
amends Schedule No. SG02 ("Schedule") to the Master Lease Agreement dated as of
September 13, 1995 ("Agreement"), such Schedule and Agreement, as the same may
have been heretofore amended or otherwise modified, are hereinafter collectively
referred to as the ("Lease") between General Electric Capital Corporation
Successor In Interest to Comdisco, Inc. as of February 25, 2002 ("Lessor") and
La Jolla Pharmaceutical Company ("Lessee"). Capitalized terms not defined herein
shall have the meanings assigned to them in the Lease.
W I T N E S S E T H
WHEREAS, the term of the Lease is scheduled to expire on June 30, 2003
("Primary Term Expiration Date"); and
WHEREAS, Lessee desires to renew the Lease pursuant to the terms set
forth herein; and
WHEREAS, Lessor is willing to consent to such renewal pursuant to the
terms set forth herein;
NOW, THEREFORE, in consideration of the above premises and the mutual
promises contained herein, as well as other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto,
intending to be legally bound, agree as follows:
1. Commencing on July 1, 2003, the Lease shall be renewed for an
additional period of Twenty Four (24) months ("Renewed Term") on and
subject to the same terms and conditions as set forth in the Lease,
except as otherwise expressly provided herein:
(a) During the Renewed Term, Lessee hereby agrees to pay to Lessor
rent in the total principal sum One Hundred Eleven Thousand
and 00/100 Dollars ($111,000.00), with interest thereon, from
the date upon which the Renewed Term commences through and
including the last day of the Renewed Term, at a fixed
interest rate of Seven percent (7.0%), to be paid in Eight (8)
consecutive Quarterly installments of principal and interest
of Fourteen Thousand Seven Hundred Thirty Seven and 00/100
Dollars ($14,737.00) (each a "Periodic Installment") and a
final installment equal to the GPO Amount (as that term is
described below). The Periodic Installments have been
calculated on the basis of a 360 day year of twelve thirty-day
months. Each Periodic Installment may, at the option of the
Lessor, be calculated and applied on the assumption that such
installment would be made on its due date. The first Periodic
Installment shall be due and payable on July 1, 2003 and the
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