Exhibit 10.46
TRIPLE NET SPACE LEASE
Between
PACIFIC SHORES INVESTORS, LLC,
as
LESSOR
and
BROADVISION, INC.
a Delaware corporation
as
LESSEE
for
PREMISES
at
Pacific Shores Center
Redwood City, California
1
ARTICLE I
PARTIES
SECTION 1.01.
PARTIES.
THIS LEASE, DATED FOR REFERENCE PURPOSES, AND
EFFECTIVE AS OF JULY 7, 2004, IS MADE BY AND BETWEEN PACIFIC SHORES INVESTORS,
LLC ("LESSOR") AND BROADVISION, INC., A DELAWARE CORPORATION ("LESSEE").
ARTICLE II
PREMISES
SECTION 2.01.
DEMISE.
LESSOR HEREBY LEASES TO LESSEE AND LESSEE LEASES
FROM LESSOR FOR THE TERM, AT THE RENTAL, AND UPON ALL OF THE TERMS AND
CONDITIONS SET FORTH HEREIN, CERTAIN PREMISES (DEFINED BELOW) WHICH SHALL BE
LOCATED IN ONE OF TEN FREE STANDING, OFFICE AND RESEARCH AND DEVELOPMENT
BUILDINGS ("PROJECT BUILDINGS") ON REAL PROPERTY SITUATED IN REDWOOD CITY,
COUNTY OF SAN MATEO, STATE OF CALIFORNIA, MORE PARTICULARLY DESCRIBED IN EXHIBIT
"A" AND COMMONLY KNOWN AS PACIFIC SHORES CENTER.
THE PREMISES, THE PROJECT
BUILDINGS AND APPURTENANCES DESCRIBED HEREIN, INCLUDING COMMON AREA (DEFINED
BELOW), AND ALL OTHER IMPROVEMENTS AT PACIFIC SHORES CENTER TOGETHER WITH THE
LAND ON WHICH THE SAME ARE LOCATED ARE TOGETHER DESIGNATED AS THE PROJECT (THE
"PROJECT").
THE PROJECT BUILDING IN WHICH THE PREMISES SHALL BE LOCATED SHALL
BE REFERRED TO HEREIN AS THE "BUILDING."
LESSOR RESERVES THE RIGHT TO ACCESS
AND USE THE RESTROOMS AND JANITOR, TELEPHONE AND ELECTRICAL CLOSETS (AS WELL AS
THE SPACE ABOVE ANY DROPPED CEILINGS) FOR CABLING, WIRING, PIPES AND OTHER
BUILDING SYSTEM ELEMENTS.
THE ACTUAL RENTABLE SQUARE FOOTAGE OF THE PREMISES,
THE BUILDING AND THE OTHER PROJECT BUILDINGS (THE "RENTABLE AREA) WILL BE
DETERMINED AND CERTIFIED BY LESSOR'S ARCHITECT BY A METHOD DESCRIBED AS
"DRIPLINE," WHEREBY THE MEASUREMENT ENCOMPASSES THE OUTERMOST PERIMETER OF THE
CONSTRUCTED BUILDING, INCLUDING EVERY PROJECTION THEREOF AND ALL AREA BENEATH
EACH SUCH PROJECTION, WHETHER OR NOT ENCLOSED, WITH NO DEDUCTION FOR ANY INWARD
DEVIATION OF STRUCTURE AND WITH THE MEASUREMENT BEING MADE FLOOR BY FLOOR,
BEGINNING FROM THE TOP OF THE BUILDING PROVIDED, THAT, RENTABLE AREA DOES NOT
INCLUDE THE OPEN AREA BENEATH ANY WALKWAY BETWEEN THE BUILDING AND ANY OTHER
PROJECT BUILDING.
THE RENTABLE AREA OF THE PREMISES ALSO INCLUDES AN ALLOCATION
OF THE BUILDING COMMON AREA (DEFINED IN SECTION 2.03. BELOW).
SECTION 2.02.
DESIGNATION OF PREMISES.
AS USED HEREIN, THE "PREMISES"
SHALL MEAN AND REFER TO THE SPACE LEASED TO LESSEE PURSUANT TO THIS LEASE, THE
EXACT LOCATION OF WHICH SHALL BE AS DETERMINED IN ACCORDANCE WITH THE TERMS OF
THIS SECTION 2.02.
AS OF THE DATE OF THIS LEASE, LESSOR AND LESSEE ANTICIPATE
THAT, SUBJECT TO THE TERMS AND CONDITIONS OF THIS SECTION 2.02., THE PREMISES
SHALL CONSIST OF APPROXIMATELY FIFTY THOUSAND (50,000) SQUARE FEET OF RENTABLE
AREA WHICH SHALL COMPRISE A PORTION OF THAT CERTAIN PROJECT BUILDING, SOMETIMES
KNOWN AS "BUILDING 6" AND COMMONLY KNOWN AS 1600 SEAPORT BOULEVARD, REDWOOD
CITY, CALIFORNIA 94063 ("BUILDING 6").
AT ANY TIME ON OR AFTER FEBRUARY 1, 2006
AND ON OR BEFORE SEPTEMBER 1, 2006, LESSOR SHALL DELIVER WRITTEN NOTICE (THE
"DESIGNATION NOTICE") TO LESSEE DESCRIBING THE