Document:

10U IL NILES AMEND 4th

FOURTH AMENDMENT TO AND ASSIGNMENT OF LEASE
 
 
    THIS FOURTH AMENDMENT TO AND ASSIGNMENT OF LEASE (this “Amendment”) is made and entered into as of the 22nd day of December, 2010 (the “Effective Date”), by and among CABOT II -– IL1W02—W03, LLC, a Delaware limited liability company (“Landlord”), HAEMOSCOPE CORPORATION, a Massachusetts corporation (“Existing Tenant”), and HAEMONETICS CORPORATION, a Massachusetts corporation (“New Tenant” or “Tenant”). 
 

WITNESSETH:

 
    WHEREAS, Landlord’s predecessor-in-interest, and Haemoscope Corporation, an Illinois corporation (“Original Tenant”), entered into a certain Industrial/Office Building Lease dated as of March 23, 2004, as amended by a certain First Amendment to Lease dated as of June 10, 2004 (the “First Amendment”), as further amended by a certain Second Amendment to Lease dated as of June 5, 2007, and as further amended by a certain Third Amendment to and Assignment of Lease (the “Third Amendment”) dated as of November 19, 2007 (as amended, the “Lease”), pursuant to which Existing Tenant leases certain premises consisting of approximately 16,748 rentable square feet (the “Premises”) in the building commonly known as Howard Commons, 6201 West Howard Street, Niles, Illinois (the “Building”); and 
 

WHEREAS, pursuant to letter dated March 23, 2006, Landlord consented to the assignment of the Lease from Original Tenant to Haemoscope, Inc. [Corporation], a Delaware corporation (“HC”), in connection with the merger of Original Tenant into HC (with HC as the surviving entity). Further, as described in the Third Amendment, Landlord further consented to assignment of the Lease from HC to Huron Acquisition Corporation, a Massachusetts corporation. By Articles of Amendment filed with the Massachusetts Secretary of State on November 21, 2007, Huron Acquisition Corporation changed its name to Haemoscope Corporation, a Massachusetts corporation, which entity is currently the “Tenant”; and 

WHEREAS, Existing Tenant desires to assign the Lease to New Tenant and New Tenant desires to assume the Lease (the “Lease Assignment”); 

WHEREAS, Landlord and Tenant have agreed to extend the Term of the Lease for a period of one (1) year, pursuant to the terms hereof; and 

WHEREAS, Landlord, Existing Tenant, and Tenant desire to memorialize their understanding and modify the Lease consistent therewith. 

NOW, THEREFORE, and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, Landlord, Existing Tenant, and Tenant hereby agree as follows: 

1.    Assignment and Assumption. As of the Effective Date, Existing Tenant hereby assigns to New Tenant all of its right, title and interest to the Lease, and New Tenant hereby assumes all of Original Tenant’s right, title and interest to the Lease. From and after the 

 

Effective Date, the “Tenant” under the Lease shall mean New Tenant, with a principal place of business at 400 Wood Road, Braintree, Massachusetts 02184”, which address shall be Tenant’s address for purposes of providing notices under the Lease. 

 
    2.     Term. (a) Notwithstanding anything to the contrary contained in the Lease, the Term of the Lease will expire on July 31, 2012. 

 
        (b)     The Lease is amended by deleting in its entirety without replacement Paragraph 2(D) of the First Amendment. 

 
        (c)     The Lease is amended by adding the following as a new Section 2.07 to Exhibit D, First Addendum to the Lease: 

 
            “2.07 Extension Term. Provided Tenant is not in monetary default under this Lease, and Tenant is not otherwise in default hereunder beyond any applicable notice and cure period at the time an option may be exercised and at the time the Extension Option (as defined below) commences, Landlord grants to Tenant one option (the “Extension Option”) to extend this Lease with respect to all of the Premises for one additional period of one (1) year (the “Extension Period”). The Extension Option may be exercised by Tenant delivering written notice (the “Extension Notice”) to Landlord at least six (6) months prior to the expiration of the Lease Term (i.c., no later than January 31, 2012). In the event that Tenant fails timely to give such notice to Landlord, this Lease shall automatically terminate at the end of the Lease Term, and Tenant shall have no option to extend the Lease Term. Time is of the essence in the exercise of the Extension Option. 

The rate of Base Rent (the “Extension Rental Rate”) for the Extension Period shall be equal to one hundred percent of the then current market rental rate at the Building charged by Landlord, taking into account all relevant factors. Not later than thirty (30) days following Landlord’s receipt of the Extension Notice, Landlord shall provide Tenant with Landlord’s good faith estimate (“Landlord’s FMV Notice”) of such Extension Rental Rate. Tenant shall have fifteen (15) days from its receipt of Landlord’s FMV Notice to notify Landlord whether Tenant accepts or rejects Landlord’s determination of the Extension Rental Rate. If Tenant is unwilling to accept Landlord’s determination of the Extension Rental Rate as set forth in Landlord’s FMV Notice, and if the parties are unable to reach agreement thereon within thirty (30) days after the delivery of Tenant’s notice to Landlord rejecting such rental determination, then the Extension Option shall lapse, the Lease shall automatically terminate at the end of the Term and Tenant shall have no further option to extend the term of this Lease. 

Landlord and Tenant shall execute an amendment to this Lease within thirty (30) days after the determination of the Extension Rental Rate, which amendment shall set forth the extended Lease Term and the Extension Rental Rate. Except for the change in the rate of Rent, the Extension Period shall be subject to all of the terms and conditions of this Lease and the Premises shall be delivered in their then “as is” condition at the time the Extension Period commences. 
 

Neither any option granted to Tenant in this Lease or in any collateral instrument to renew or extend the Lease Term, nor the exercise of any such option by Tenant, shall prevent Landlord 

 

from exercising any option or right granted or reserved to Landlord in this Lease or in any collateral instrument or that Landlord may otherwise have, to terminate this Lease or any renewal or extension of the Lease Term either during the original Lease Term or during the renewed or extended Term. Any renewal or extension right granted to Tenant shall be personal to Tenant and may not be exercised by any assignee, subtenant or legal representative of Tenant. Any termination of this Lease shall serve to terminate any such renewal or extension of the Lease Term, whether or not Tenant shall have exercised any option to renew or extend the Lease Term. No option granted to Tenant to renew or extend the Lease Term shall be deemed to give Tenant any further option to renew or extend.” 

3.     Base Rent.   The Lease is amended by deleting the last line of the Base Rent schedule added to the Lease by paragraph 3 of the Third Amendment and replacing such line as follows (such Base Rent to continue to be paid to Landlord in monthly installments on the first day of each month in advance, without offset, deduction or prior demand, and as otherwise set forth in the Lease):

	
			
	Time Period 

	Annual Base Rent 

	Monthly Base Rent 

	8/1/10 —2/28/11
	$139,175.88
	$11,597.99

	3/1/2011
	$142,358.00
	$11,863.17”

    
4.     Base Year.   Notwithstanding the provisions of the Lease to the contrary, effective as of March 1, 2011, “Base Amount Taxes” shall be an amount equal to Tenant’s Proportionate Share of Taxes for the 2011 calendar year, and “Base Amount Expenses” shall be an amount equal to Tenant’s Proportionate Share of Expenses for the 2011 calendar year. Commencing on March 1, 2011, Tenant’s payment of Additional Rent shall be computed based on the Base Amount Taxes and Base Amount Expenses described in this Fourth Amendment. 

5.    Heating and Air Conditioning.   Tenant acknowledges and agrees that since the commencement of the Term, the HVAC serving the Premises has been, is, and will continue to be controlled by Tenant and separately metered. All utility bills of any type related to the such Premises HVAC system shall be paid for by Tenant pursuant to Section 5 of the Lease. 

6.     Brokers.   Tenant represents and warrants that it has dealt with no broker, agent, or other person in connection with this transaction, other than Colliers International and Studley, Inc. (collectively, the “Broker”), and that no other broker, agent or other person brought about this transaction, and Tenant agrees to indemnify and hold Landlord harmless from and against any claims by any other broker, agent or other person claiming a commission or other form of compensation by virtue of having dealt with Tenant with regard to this leasing transaction. Landlord shall be solely responsible for any commissions or fees due the aforementioned Brokers in connection with this Amendment. The provisions of this paragraph shall survive the termination of the Lease. 

7.     No Other Amendments.   In all other respects, the terms and provisions of the Lease are ratified and reaffirmed hereby, are incorporated herein by this reference and shall be binding upon the parties to this Amendment. 
 

8.     Definitions.   All capitalized terms used and not otherwise defined herein, shall have the meanings ascribed to them in the Lease. 

9.     Conflicts.   Any inconsistencies or conflicts between the terms and provisions of the Lease and the terms and provisions of this Amendment shall be resolved in favor of the terms and provisions of this Amendment. 
 

10.     Execution.   The submission of this Amendment shall not constitute an offer, and this Amendment shall not be effective and binding unless and until fully executed and delivered by each of the parties hereto. Tenant represents and warrants for itself that all requisite organizational action has been taken in connection with this transaction, and the individual signing this Amendment on behalf of Tenant represents and warrants that he/she has been duly authorized to bind the Tenant by his/her signature. 

11.     Counterparts.   This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. Additionally, telecopied 
 
or e-mailed signatures may be used in place of original signatures on this Amendment. Tenant and Landlord intend to be bound by the signatures on the telecopied or e-mailed document, are aware that the other party will rely on the teleeopied or e-mailed signatures, and hereby waive any defenses to the enforcement of the terms of this Amendment based on the form of signature. 

[SIGNATURES FOLLOW ON NEXT PAGE]  

IN WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be duly executed, under seal, in multiple copies, each to be considered an original hereof, as of the day and year first above written. 

LANDLORD: 
 
CABOT II- ILIWO2-W03, LLC 
 
By: Cabot Industrial Value Fund II Operating Partnership, L.P.

By:         [Graphic appears here]                   
Name: Stephen P. Vallarelll 
Title: Senior Vice President

EXISTING TENANT: 
HAEMOSCOPE CORPORATION, a Massachusetts corporation  
 

By:          [Graphic appears here]                   
Name: Christopher Lindop 
Title: President 

NEW TENANT:  

HAEMONETICS CORPORATION, a Massachusetts corporation  
 

By:          [Graphic appears here]                   
Name: Christopher Lindop 
Title: CFO10V IL NILES 5TH AMEND

FIFTH AMENDMENT TO LEASE
THIS FIFTH AMENDMENT TO LEASE (this “Amendment”) is entered into as of the 24 day of July, 2012, by and between CABOT II — IL1W02—W03, LLC, a Delaware limited liability company (“Landlord”) and HAEMONETICS CORPORATION, a Massachusetts corporation (“Tenant”).
WHEREAS, Landlord, as a successor-in-interest to Howard Commons Associates, L.L.C., a Delaware limited liability company, and Tenant, as a successor-in-interest to Haemoscope Corporation, an Illinois corporation, are parties to that certain Industrial/Office Building Lease dated as of March 23, 2004 (the “Lease Agreement”) covering certain space in the building known as Howard Commons and located at 6201-6295 West Howard Street, Niles, Illinois 60714 (the “Building”), as more particularly described therein;
WHEREAS the Lease Agreement has been previously amended by that certain First Amendment to Lease dated as of June 10, 2004, that certain Second Amendment to Lease dated as of June 5, 2007, that certain Third Amendment to and Assignment of Lease dated as of November 19, 2007, and that certain Fourth Amendment to and Assignment of Lease (the “Fourth Amendment”) dated as of December 22, 2010 (the Lease Agreement, as amended, the “Lease”) whereby Tenant currently leases from Landlord approximately 16,748 rentable square feet of space known as Suite 6231 (the “Premises”) in the Building;
WHEREAS, Landlord is the current owner of the Building and is the landlord under the Lease;
WHEREAS, the Term of the Lease is currently scheduled to expire on July 31, 2012, and Tenant desires to extend the Term for a period of twelve (12) months to expire on July 31, 2013;
WHEREAS, subject to the terms and conditions set forth below, Landlord has agreed to extend the Term for a period of twelve (12) months to expire on July 31, 2013; and
WHEREAS, Landlord and Tenant desire to amend the Lease to reflect their agreements as to the terms and conditions governing the extension of the Term.
NOW, THEREFORE, in consideration of the premises and the mutual covenants between the parties herein contained, Landlord and Tenant agree as follows:
1.     Term. The Term of the Lease is hereby extended for a period of twelve (12) months to expire on July 31, 2013, unless sooner terminated in accordance with the terms of the Lease.
2.     Base Rent. From and after the date hereof and continuing through July 31, 2012, Tenant shall continue to pay Base Rent in accordance with the terms of the Lease. Commencing August 1, 2012 and continuing through July 31, 2013, Tenant shall pay Base Rent for the Premises in the amount of $13,258.83 per month. All such Base Rent shall be payable in accordance with the terms of the Lease.

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3.     Additional Rent. Tenant shall continue to pay Additional Rent in accordance with the terms of the Lease; provided that, effective as of August 1, 2012, the “Base Amount Taxes” shall be amended to mean an amount equal to Tenant’s Proportionate Share of Taxes for the 2012 calendar year, and the “Base Amount Expenses” shall be amended to mean an amount equal to Tenant’s Proportionate Share of Expenses for the 2012 calendar year. In connection with the updating of the base year, all caps on Expenses previously provided under the Lease are hereby deleted.
4.     Utilities. Tenant shall continue to pay for all utilities provided to the Premises and for Tenant’s insurance premiums in accordance with the terms of the Lease.
5.     Acceptance of the Premises. Tenant acknowledges that it currently occupies the Premises and hereby accepts the Premises and the Project in “as is” condition. Landlord shall not be required to perform any leasehold improvements or provide any improvement allowance in connection with this Amendment.
6.     Landlord’s Addresses. Landlord’s addresses for notices under the Lease are hereby amended in their entireties to the following:
CABOT II — IL1W02—W03, LLC
c/o Cabot Properties
One Beacon Street, Suite 1700
Boston, Massachusetts 02108
Attn: Asset Management
Payments of Rent only shall be made payable to the order of Landlord at the following address:
Cabot Industrial Value Fund II Operating Partnership, L.P.
Lockbox # 774066
4066 Solutions Center
Chicago, IL 60677-4000
or such other name and address as Landlord shall, from time to time, designate.
7.     Expansion Option.
(a)     At any time prior to October 31, 2012, Tenant shall have the option (the “Expansion Option”) to lease the approximately 5,366 rentable square feet of space in the Building currently known as Suite 6233 (the “Expansion Space”) in its entirety by providing Landlord written notice (the “Expansion Notice”) from Tenant of the exercise of its Expansion Option, if:
(i)     Tenant is not in default under the Lease, as amended hereby, beyond any applicable cure periods at the time that Landlord receives the Expansion Notice; and

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(ii)     No part of the Premises is sublet at the time Landlord receives the Expansion Notice; and
(iii)     The Lease has not been assigned prior to the date that Landlord receives the Expansion Notice.
(b)     If Tenant is entitled to and properly exercises its Expansion Option, Tenant shall pay Base Rent for the Expansion Space in the amount of $4,248.08 per month. All such Base Rent shall be payable in accordance with the terms of the Lease, as amended hereby. Tenant shall pay Additional Rent and other sums for the Expansion Space in accordance with the terms of the Lease.
(c)     The Expansion Space (including improvements and personalty, if any) shall be accepted by Tenant in its “as-built” condition and configuration existing on the earlier of the date Tenant takes possession of the Expansion Space or as of the date the term for the Expansion Space commences. The term for the Expansion Space shall commence on the date Landlord delivers possession of the Expansion Space to Tenant, and shall end, unless sooner terminated pursuant to the terms of the Lease, on the expiration of the Term of the Lease, as extended hereby, it being the intention of the parties hereto that the term for the Expansion Space and the Term for the current Premises shall be coterminous, The Expansion Space shall be considered a part of the Premises, subject to all the terms and conditions of the Lease, except that no allowances, credits, abatements or other concessions (if any) set forth in the Lease for the current Premises shall apply to the Expansion Space.
(d)     If Tenant is entitled to and properly exercises the Expansion Option, Landlord and Tenant shall enter into an amendment (the “Expansion Amendment”) to reflect the commencement date of the term for the Expansion Space and the changes in Base Rent, square footage of the Premises, Tenant’s Proportionate Share, and other appropriate terms; provided that an otherwise valid exercise of the Expansion Option shall be fully effective whether or not the Expansion Amendment is executed. The Expansion Option granted herein shall terminate upon November 1, 2012 and if Tenant fails to timely deliver the Expansion Notice, Tenant’s exercise of the Expansion Option shall be of no force or effect, time being of the essence in delivery of the Expansion Notice.
(e)     Notwithstanding anything herein to the contrary, Tenant’s Expansion Option is subject and subordinate to (i) the renewal or extension rights of any tenant leasing all or any portion of the Expansion Space, and (ii) the expansion rights (whether such rights are designated as a right of first offer, right of first refusal, expansion option or otherwise) of any tenant of the Building existing on the date hereof.
8.     Renewal. Section 2.07 to Exhibit D. First Addendum to the Lease Agreement, as added by Section 2(c) of the Fourth Amendment, is hereby deleted, and Tenant shall have no further right or option to extend or renew the Term.
9.     Insurance. The commercial general liability insurance policies required to be carried by Tenant under the Lease shall name Landlord, its property manager, any mortgagee, Cabot

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Industrial Value Fund II Operating Partnership, L.P., Cabot Properties, Inc., and such other parties as Landlord may designate, as additiona1 insureds.
10.     Brokers. Tenant warrants that it has had no dealings with any real estate broker or agent in connection with the negotiation of this Amendment other than Colliers International (“Landlord’s Broker”) and Studley, Inc. (“Tenant’s Broker”), and that it knows of no other real estate brokers or agents who are or might be entitled to a commission in connection with this Amendment. Landlord agrees to pay a commission to Landlord’s Broker and Tenant’s Broker in connection with this Amendment pursuant to separate written agreements between Landlord and such brokers. Tenant agrees to indemnify and hold harmless Landlord from and against any liability or claim arising in respect to any brokers or agents other than Tenant’s Broker claiming a commission by, through, or under Tenant in connection with this Amendment.
11.     Estoppel. Tenant hereby represents, warrants and agrees that: (a) there exists no breach, default or event of default by Landlord under the Lease, or any event or condition which, with the giving of notice or passage of time or both, would constitute a breach, default or event of default by Landlord under the Lease; (b) the Lease continues to be a legal, valid and binding agreement and obligation of Tenant; and (c) Tenant has no current offset or defense to its performance or obligations under the Lease.
12.     Authority. Tenant and each person signing this Amendment on behalf of Tenant represents to Landlord as follows: (i) Tenant is duly formed and validly existing under the laws of the Commonwealth of Massachusetts, (ii) Tenant has and is qualified to do business in Illinois, (iii) Tenant has the full right and authority to enter into this Amendment, and (iv) each person signing on behalf of Tenant was and continues to be authorized to do so.
13.     Defined Terms. All defined terms used but not otherwise defined herein shall have the same meaning assigned to them in the Lease.
14.     Ratification of Lease. Except as amended hereby, the Lease shall remain in full force and effect in accordance with its terms and is hereby ratified. In the event of a conflict between the Lease and this Amendment, this Amendment shall control. In no event shall Landlord be liable for any consequential, special, or punitive damages as a result of any breach of or default under the Lease, as amended hereby, by Landlord.
15.     No Representations. Landlord and Landlord’s agents have made no representations or promises, express or implied, in connection with this Amendment except as expressly set forth herein and Tenant has not relied on ay representations except as expressly set forth herein.
16.     Entire Agreement. This Amendment, together with the Lease, contains all of the agreements of the parties hereto with respect to any matter covered or mentioned in this Amendment or the Lease, and no prior agreement, understanding or representation pertaining to any such matter shall be effective for any purpose.
17.     Section Headings. The section headings contained in this Amendment are for convenience only and shall in no way enlarge or limit the scope or meaning of the various and several sections hereof.

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18.     Successors and Assigns. The terms and provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
19.     Severability. A determination that any provision of this Amendment is unenforceable or invalid shall not affect the enforceability or validity of any other provision hereof and any determination that the application of any provision of this Amendment to any person or circumstance is illegal or unenforceable shall not affect the enforceability or validity of such provision as it may apply to any other persons or circumstances.
20.     Governing Law. This Amendment shall be governed by the laws of the State of Illinois.
21.     Submission of Amendment Not Offer. The submission by Landlord to Tenant of this Amendment for Tenant’s consideration shall have no binding force or effect, shall not constitute an option, and shall not confer any rights upon Tenant or impose any obligations upon Landlord irrespective of any reliance thereon, change of position or partial performance. This Amendment is effective and binding on Landlord only upon the execution and delivery of this Amendment by Landlord and Tenant.
[Signature page follows.]

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IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written.

LANDLORD:
CABOT II- IL1W02—W03, LLC, a
Delaware limited liability company
		
	By: 
	Cabot Industrial Value Fund II Operating  
Partnership, L.P., a Delaware limited partnership,  
its sole member

By:[Graphic appears here]

Name: Bradford M. Otis
Title:   Vice President

TENANT:
HAEMONETICS CORPORATION,
a Massachusetts corporation
By: :[Graphic appears here]

Name: [Graphic appears here]

Title :[Graphic appears here]

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