calendar month, the first Lease Month shall include the period from the first Monthly Anniversary of the Commencement Date to the last day of the month in which such monthly anniversary date
occurs and Tenant shall pay Basic Monthly Rent and Additional Rent (at the rates in effect on the Commencement Date) for such extended period. The Basic Annual Rent and Basic Monthly Rent shall be increased at such time as the Premises are expanded
in accordance with the terms of this Lease or by the mutual written agreement of Landlord and Tenant.
4. “Tenant’s Pro Rata
Share Percentage”: The Agreed Rentable Area of the Premises divided by the Agreed Rentable Area of the Building, expressed in a percentage. As of the Commencement Date, Tenant’s Pro Rata Share Percentage shall be 4.4984%.
5. “Tenant’s Operating Expense Stop”: Tenant’s Operating Expense Stop shall be equal to actual Operating Expenses for the
calendar year 2012 (the “Base Year”), grossed up in accordance with subsection 2.202 of the Supplemental Lease Provisions.
6. “Tenant’s Pro Rata Share of Electrical Expenses”: Tenant’s Pro Rata Share of Electrical Expenses shall be equal to the
Electrical Expenses (as defined in the Supplemental Lease Provisions) for the applicable period of time, multiplied by Tenant’s Pro Rata Share Percentage.
7. “Tenant’s Real Estate Taxes Stop”: Tenant’s Real Estate Taxes Stop shall be equal to actual Real Estate Taxes for the Base Year; provided, however, that if Real Estate Taxes
assessed for the Base Year do not reflect an assessment attributable to a 95% occupied building, then Tenant’s Real Estate Taxes Stop amount shall be adjusted upward to reflect an amount equal to reflect such assessment, as reasonably
determined by Landlord.
8. “Term”: The Term of this Lease shall be equal to 126 Lease Months; provided, however, if the
Commencement Date is a day other than the first day of a calendar month, the first Lease Month shall be in excess of a full calendar month as provided in item 3 of these Basic Lease Provisions.
9. “Commencement Date”: April 1, 2012.
10. “Expiration Date”: September 30, 2022.
11. “Security
Deposit”: $86,191.25.
11A. “Prepaid Rent”: $86,191.25.
12. “Broker”: Cushman & Wakefield of Texas, Inc.
13.
“Permitted Use”: As a call center (including related training rooms) and for general and administrative offices and uses ancillary thereto (provided such ancillary uses are consistent with the character of first class multi-tenant
office buildings in the Dallas central business district), subject to Section 4.101 of the Supplemental Lease Provisions.
14. All
payments shall be made payable to Landlord and sent to Landlord at P.O. Box 3085, Hicksville, NY 11802-3085 or to such other place and/or person or entity as Landlord may designate from time to time. All payments shall be in the form of check or in
such other form as shall be mutually acceptable to Landlord and Tenant, provided that payment by check shall not be deemed made if the check is not duly honored with good funds.
15. Parking: See Exhibit E attached to the Supplemental Lease Provisions.
16. Addresses
for notices due under this Lease (see Article 14, Supplemental Lease Provisions):
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LANDLORD: |
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TENANT: |
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1201 Elm Street |
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Priority Fulfillment Services, Inc. |
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Suite 2550 |
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500 North Central Expressway |
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Dallas, TX 75270 |
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Plano, TX 75074 |
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Attention: Property Manager |
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Attention: Chief Financial Officer |
Renaissance Tower/
Priority Fulfillment Services, Inc.
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