California-Los Angeles-8383 Wilshire Boulevard Lease [Amendment No. 4] - Arden Realty LP and MatchNet plc
FOURTH AMENDMENT TO LEASE
(8383 WILSHIRE BOULEVARD, SUITE 840)
THIS FOURTH AMENDMENT TO LEASE ("FOURTH AMENDMENT") is made and entered
into as of the 14th day of May, 2004, by and between ARDEN REALTY LIMITED
PARTNERSHIP, a Maryland limited partnership ("LANDLORD") and MATCHNET PLC, a
public limited company organized and existing under the laws of England and
qualified to do business in California ("TENANT").
R E C I T A L S:
A. Landlord and Tenant entered into that certain Standard Office Lease
dated as of September 1, 2000 (the "ORIGINAL LEASE"), as amended by that certain
First Amendment to Lease dated as of September 5, 2000 (the "FIRST AMENDMENT"),
as amended by that certain Second Amendment to Lease dated as of January 16,
2003 (the "SECOND AMENDMENT"), as amended by that certain Third Amendment to
Lease dated as of October 30, 2003 (the "THIRD AMENDMENT"), whereby Tenant
leases certain office space in that certain building located and addressed at
8383 Wilshire Boulevard, Beverly Hills, California (the "BUILDING"). The
Original Lease, as amended by the First Amendment, Second Amendment and Third
Amendment, is herein referred to, collectively, as the "LEASE".
B. By this Fourth Amendment, Landlord and Tenant desire to expand
Tenant's occupancy within the Building, and to otherwise modify the Lease as
provided herein.
C. Unless otherwise defined herein, capitalized terms as used herein
shall have the meanings given thereto in the Lease.
NOW, THEREFORE, in consideration of the foregoing recitals and the mutual
covenants contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows:
A G R E E M E N T:
1. Existing Premises. Landlord and Tenant hereby acknowledge that
pursuant to the Lease, Landlord currently leases to Tenant that certain office
space in the Building containing 24,955 rentable square feet located on the
eighth (8th) floor of the Building and known as Suites 800, 809 and 810
(collectively, the "EXISTING PREMISES"), as outlined on Exhibit "A" to the
Second Amendment and the Third Amendment.
2. Expansion Space. That certain space located on the eighth (8th)
floor of the Building known as Suite 840, as outlined on the floor plan attached
hereto as Exhibit "A," shall
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be referred to herein, collectively, as the "EXPANSION SPACE." Landlord and
Tenant hereby stipulate that the Expansion Space contains 1,705 rentable square
feet. Tenant shall commence to pay charges pursuant to the Lease, as hereby
amended, effective as of the date that is fifteen (15) days following the full
execution and delivery of this Fourth Amendment to Landlord ("EXPANSION
COMMENCEMENT DATE"). The addition of the Expansion Space to the Existing
Premises shall, effective as of the Expansion Commencement Date, increase the
number of rentable square feet leased by Tenant in the Building to a total of
26,660 rentable square feet. Effective as of the Expansion Commencement Date,
all references to the "Premises" shall mean and refer to the Existing Premises
as expanded by the Expansion Space.
3. Term and Monthly Basic Rental for the Expansion Space. The Term for
Tenant's lease of the Expansion Space ("EXPANSION SPACE TERM") shall commence on
the Expansion Commencement Date and shall expire co-terminous with Tenant's
lease of the Existing Premises on July 31, 2006. During the Expansion Space
Term, Tenant shall pay in accordance with the provisions of this Section 3 and
the applicable provisions of the Lease, Monthly Basic Rental for the Expansion
Space as follows:
MONTHLY BASIC RENTAL PER
PERIOD MONTHLY BASIC RENTAL RENTABLE SQUARE FOOT
------ -------------------- ------------------------
Expansion Commencement Date - Month 12 $3,239.50 $1.90
Months 13 - July 31, 2006 $3,341.80 $1.96
4. Tenant's Proportionate Share and Base Year. Notwithstanding anything
to the contrary in the Lease, during the Expansion Space Term, (i) Tenant's
Proportionate Share of any increase in Operating Costs for the Expansion Space
only shall be 0.39%; and (ii) the Base Year for the Expansion Space shall be the
calendar year 2004.
5. Condition of the Expansion Space. Tenant hereby agrees to accept the
Expansion Space in its "as-is" condition and Tenant hereby acknowledges that
Landlord shall not be obligated to provide or pay for any other work or services
related to the improvement of the Expansion Space. Tenant also acknowledges that
Landlord has made no representation or warranty regarding the condition of the
Expansion Space.
6. Security Deposit. Tenant has previously deposited with Landlord
Forty-Nine Thousand Six Hundred Twenty-One and 47/100 Dollars ($49,621.47) as a
Security Deposit under the Lease. Concurrently with Tenant's execution of this
Fourth Amendment, Tenant shall deposit with Landlord an additional Three
Thousand Three Hundred Forty-One and 80/100 Dollars ($3,341.80), for a total
Security Deposit under the Lease, as amended herein, of Fifty-Two Thousand Nine
Hundred Sixty-Three and 27/100 Dollars ($52,963.27). Landlord shall continue to
hold the Security Deposit, as increased herein, in accordance with the terms and
conditions of Article 4 of the Original Lease.
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7. Parking. Effective as of the Expansion Commencement Date and
continuing throughout the Expansion Space Term, Tenant shall rent from Landlord
an additional five (5) unreserved parking passes for use in the Building's
parking facility. Tenant's rental and use of such additional parking passes
shall be in accordance with, and subject to, all provisions of Article 23 of the
Original Lease including, without limitation, payment of the monthly parking
rate specified therein, which rate is currently One Hundred Ten and NO/100
Dollars ($110.00) per unreserved parking pass per month.
8. Brokers. Each party represents and warrants to the other that no
broker, agent or finder negotiated or was instrumental in negotiating or
consummating this Fourth Amendment other than Brian Davies of CRESA Partners
(the "BROKER"). Each party further agrees to defend, indemnify and hold harmless
the other party from and against any claim for commission or finder's fee by any
entity other than the Broker who claims or alleges that they were retained or
engaged by such party in connection with this Fourth Amendment.
9. Signage/Directory. Provided Tenant is not in default hereunder,
Landlord, at Tenant's sole cost and expense, shall install Building-standard
signage at the entry of the Expansion Space as well as allow Tenant one (1)
designated line on the lobby directory board at the Building.
10. Defaults. Tenant hereby represents and warrants to Landlord that, as
of the date of this Fourth Amendment, Tenant is in full compliance with all
terms, covenants and conditions of the Lease and that there are no breaches or
defaults under the Lease by Landlord or Tenant, and that Tenant knows of no
events or circumstances which, given the passage of time, would constitute a
default under the Lease by either Landlord or Tenant.
11. WAIVER OF JURY TRIAL. EACH PARTY HEREBY WAIVES ANY RIGHT TO TRIAL BY
JURY IN ANY ACTION SEEKING SPECIFIC PERFORMANCE OF ANY PROVISION OF THE LEASE,
FOR DAMAGES FOR ANY BREACH UNDER THE LEASE, OR OTHERWISE FOR ENFORCEMENT OF ANY
RIGHT OR REMEDY UNDER THE LEASE.
12. No Further Modification. Except as set forth in this Fourth
Amendment, all of the terms and provisions of the Lease shall apply with respect
to the Expansion Space and shall remain unmodified and in full force and effect.
Effective as of the Expansion Commencement Date, all references to the "Lease"
shall refer to the Lease as amended by this Fourth Amendment.
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IN WITNESS WHEREOF, this Fourth Amendment has been executed as of the
day and year first above written.
"LANDLORD":
ARDEN REALTY LIMITED PARTNERSHIP,
a Maryland limited partnership
By: ARDEN REALTY, INC.,
a Maryland corporation
Its: Sole General Partner
By: /s/ Robert C. Peddicord
-----------------------------
Its: Senior Vice President
Leasing and Operations
"TENANT":
MATCHNET PLC,
a public limited company organized
and existing under the laws of
England and qualified to do
business in California
By: /s/ William Rochelle
---------------------------------
Print Name: William Rochelle
Its: ________________________________
By:__________________________________
Print Name: _________________________
Its: ___________________________
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