ONVI » Topics » 4. Basic Rent. Section 4.1 of the Lease is deleted in its entirety and the following substituted in lieu thereof: Section 4.1 Basic Rent.

This excerpt taken from the ONVI 10-Q filed Nov 13, 2006.

4. Basic Rent. Section 4.1 of the Lease is deleted in its entirety and the following substituted in lieu thereof:

Section 4.1 Basic Rent.

4.1.1 The term “Basic Rent” for any month during the Term means the sum of (a) the Fixed Amount as specified in the Lease Summary, plus (b) the Operating Expenses Factor, and (c) the Parking Factor. Basic Rent attributable to each month of the Lease Term is payable on or before the 25th day of the preceding month. Basic Rent for any partial month shall be prorated based upon the actual number of days in that partial month. Basic Rent shall not be adjusted (either upward or downward) despite subsequent measurements of the rentable area of the Premises which identify discrepancies between the actual area and that shown in the Lease Summary.

4.1.2 The term “Operating Expense Factor” means, for any month, 3.773% of Operating Expenses for the 2007 Lease Year. [45.28% ÷ 12].

 

2


4.1.3 The term “Parking Factor” means, for any month, the amount depicted in the last column of the following table, which is the product obtained by multiplying (A) the Parking Rate Differential for such month by (B) 102. The term “Parking Rate Differential” means the positive difference between (A) the per space monthly amount payable by Tenant for parking spaces pursuant to Paragraph 4 of Exhibit E, agreed to be the amount depicted in the column labeled “Onvia Rate” in the following table and (B) the amount depicted in the “Gates Rate” column in following table:

 

Month(s)

   Onvia
Rate
   Gates
Rate
   Differential    Parking
Factor

01/01/07-04/30/07

   $ 162.50    $ 100.00    $ 62.50    $ 6,375.00

05/01/07-12/31/07

     168.75      100.00      68.75      7,012.50.

01/01/08-04/30/08

     168.75      106.25      62.50      6,375.00

05/01/08-12/31/08

     175.00      106.25      68.75      7,012.50

01/01/09-04/30/09

     175.00      109.98      65.02      6,632.04

05/01/09-12/31/09

     181.25      109.98      71.27      7,269.54

01/01/10-04/30/10

     181.25      111.09      70.16      7,156.32

5. Name of Building. Section 21.19 of the Lease is deleted in its entirety.

6. Tenant Floor Plan. Exhibit A of the Lease is deleted in its entirety and Exhibit A annexed hereto is substituted in lieu thereof.

7. Option to Extend Term. The last sentence of Exhibit E, Paragraph 1 of the Lease is deleted in its entirety and the following substituted in lieu thereof:

“Tenant shall deliver to Landlord a written notice of Tenant’s exercise of its option to extend hereunder not later than April, 30, 2009.”

8. Parking Rates. Pursuant to Exhibit E, Paragraph 4 of the Lease, Landlord and Tenant agree to the following as the monthly parking rate per space through April 30, 2010:

 

Month(s)

   Rate

01/01/07-04/30/07

   $ 162.50

05/01/07-12/31/07

     168.75

01/01/08-04/30/08

     168.75

05/01/08-12/31/08

     175.00

01/01/09-04/30/09

     175.00

05/01/09-12/31/09

     181.25

01/01/10-04/30/10

     181.25
This excerpt taken from the ONVI 8-K filed Oct 16, 2006.

4. Basic Rent. Section 4.1 of the Lease is deleted in its entirety and the following substituted in lieu thereof:

Section 4.1 Basic Rent.

4.1.1 The term “Basic Rent” for any month during the Term means the sum of (a) the Fixed Amount as specified in the Lease Summary, plus (b) the Operating Expenses Factor, and (c) the Parking Factor. Basic Rent attributable to each month of the Lease Term is payable on or before the 25th day of the preceding month. Basic Rent for any partial month shall be prorated based upon the actual number of days in that partial month. Basic Rent shall not be adjusted (either upward or downward) despite subsequent measurements of the rentable area of the Premises which identify discrepancies between the actual area and that shown in the Lease Summary.

4.1.2 The term “Operating Expense Factor” means, for any month, 3.773% of Operating Expenses for the 2007 Lease Year. [45.28% ÷ 12].

4.1.3 The term “Parking Factor” means, for any month, the amount depicted in the last column of the following table, which is the product obtained by multiplying (A) the Parking Rate Differential for such month by (B) 102. The term “Parking Rate Differential” means the positive difference between (A) the per space monthly amount payable by Tenant for parking spaces pursuant to Paragraph 4 of Exhibit E, agreed to be the amount depicted in the column labeled

 

2


“Onvia Rate” in the following table and (B) the amount depicted in the “Gates Rate” column in following table:

 

Month(s)

   Onvia Rate    Gates Rate    Differential    Parking Factor

01/01/07-04/30/07

   $ 162.50    $ 100.00    $ 62.50    $ 6,375.00

05/01/07-12/31/07

     168.75      100.00      68.75      7,012.50.

01/01/08-04/30/08

     168.75      106.25      62.50      6,375.00

05/01/08-12/31/08

     175.00      106.25      68.75      7,012.50

01/01/09-04/30/09

     175.00      109.98      65.02      6,632.04

05/01/09-12/31/09

     181.25      109.98      71.27      7,269.54

01/01/10-04/30/10

     181.25      111.09      70.16      7,156.32

5. Name of Building. Section 21.19 of the Lease is deleted in its entirety.

6. Tenant Floor Plan. Exhibit A of the Lease is deleted in its entirety and Exhibit A annexed hereto is substituted in lieu thereof.

7. Option to Extend Term. The last sentence of Exhibit E, Paragraph 1 of the Lease is deleted in its entirety and the following substituted in lieu thereof:

“Tenant shall deliver to Landlord a written notice of Tenant’s exercise of its option to extend hereunder not later than April, 30, 2009.”

8. Parking Rates. Pursuant to Exhibit E, Paragraph 4 of the Lease, Landlord and Tenant agree to the following as the monthly parking rate per space through April 30, 2010:

 

Month(s)

   Rate

01/01/07-04/30/07

   $ 162.50

05/01/07-12/31/07

     168.75

01/01/08-04/30/08

     168.75

05/01/08-12/31/08

     175.00

01/01/09-04/30/09

     175.00

05/01/09-12/31/09

     181.25

01/01/10-04/30/10

     181.25

EXCERPTS ON THIS PAGE:

10-Q
Nov 13, 2006
8-K
Oct 16, 2006
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