Document:

EX-10.56

 Exhibit 10.56 
 AMENDMENT NO. 2 TO LEASE 
 This Amendment No. 2 to Lease (this
“Amendment”) dated as of September 15, 2015, is made between THE CONNELL COMPANY, a New Jersey corporation (“Landlord”), and AUTHENTIDATE HOLDING CORP., a Delaware corporation (“Tenant”). 

WHEREAS, Landlord and Tenant are parties to a lease dated as of July 5, 2005, which was amended by Amendment No. 1 to Lease
dated as of February 12, 2010 (as amended, the “Lease”; capitalized terms used herein and not otherwise defined having the meaning set forth in the Lease) pursuant to which Tenant is leasing certain space specified therein from
Landlord; 
 WHEREAS, Landlord and Tenant desire to have the entire portion of the Demised Premises originally subject to the
Lease (consisting of 19,695 rentable square feet located on the fifth floor of the Building) terminate prior to its originally scheduled expiration date, and contemporaneously with such termination, have Tenant lease new space in the Building
(consisting of 5,188 rentable square feet located on the first floor of the Building), for a period of six (6) years, on the terms set forth herein; and 
 WHEREAS, Landlord and Tenant desire to reflect such termination and lease of new space and amend certain portions of the Lease to reflect the same; 

NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows: 
 SECTION 1. Termination with respect to the Initial Demised
Premises. 
 Subject to Section 3 of this Amendment, on the Replacement Effective Date (as defined below) the Lease
shall automatically terminate with respect to the Initial Demised Premises (as defined in Section 1.02 of the Lease (as amended by this Amendment)) only, with such termination having the same force and effect as if the Replacement Effective
Date were the originally scheduled expiration date of the Lease with respect to the Initial Demised Premises. For purposes of clarification, it is understood and agreed that the Lease shall continue on and after the Replacement Effective Date in
full force and effect with respect to the New Demised Premises (as defined in Section 1.02 of the Lease (as amended by this Amendment)). For purposes of clarification, it is also understood and agreed that Tenant shall be required to quit and
surrender the Initial Demised Premises on the Replacement Effective Date in the condition and manner required by Section 7.06 of the Lease and Section 1.13 of Amendment No. 1 to Lease. The “Replacement Effective Date” shall
have the meaning assigned thereto in clause (qq) of Section 2.01 of the Lease (as amended by this Amendment). 
 SECTION 2.
AMENDMENTS TO THE LEASE. 
 2.1. Subject to Section 3 hereof, the Lease is hereby amended as set forth in the remaining
portions of Section 2 hereof. 
 2.2. Section 1.02 of the Lease is amended by deleting such Section 1.02 in its
entirety (other than the heading “Section 1.02. Demised Premises”), and inserting in its place the following: 

 The phrase “Demised Premises” shall have a different definition for different
phases of the Term of this Lease. (A) Prior to the Replacement Effective Date, the “Demised Premises” shall mean the portion of the Building leased to Tenant, consisting of 16,078 usable square feet of floor area converted to 19,695
rentable square feet of floor area by multiplying the usable square feet by 122.5%, and located on the fifth floor and designated as “Initial Demised Premises” on the “Rental Plan” (which is attached hereto as Exhibit B; such
space also being referred to herein sometimes as the “Initial Demised Premises”). (B) Effective as of the Replacement Effective Date and thereafter, the “Demised Premises” shall mean the portion of the Building leased to
Tenant, consisting of 4,235 usable square feet of floor area converted to 5,188 rentable square feet of floor area by multiplying the usable square feet by 122.5%, and located on the first floor and designated as “New Demised Premises” on
the “Rental Plan” (which is attached hereto as Exhibit B-l; such space sometimes also being referred to herein as the “New Demised Premises”). The Demised Premises includes any alterations, additions, improvements or repairs of
any nature made thereto. The computations of rentable square footage set forth above shall be binding and conclusive on the parties and their successors and assigns. 
 2,3. Section 1.03 of the Lease is amended by deleting such Section 1.03 in its entirety (other than the heading “Section 1,03. Base Rent”), and inserting in its place the
following: 
 “Base Rent” in the applicable period of the Term of the Lease shall equal the applicable amount set
forth below: 
  

	 	(i)	From (and including) Commencement Date up to (and including) January 31, 2006: $0.00 per month ($0.00 per rentable square foot of the Initial Demised Premises per
annum); 

  

	 	(ii)	From (and including) February 1, 2006 up to (and including) March 31, 2006: $33,754.50 per month, which amount equals the sum of the following amounts:

  

	 	(a)	$26.00 per rentable square foot per annum on 15,579 rentable square feet of the Initial Demised Premises ($33,754.50 per month), plus 

 

	 	(b)	$0.00 per rentable square foot per annum on 4,116 rentable square feet of the Initial Demised Premises ($0.00 per month); 

 

	 	(iii)	From (and including) April 1, 2006 up to (and including) January 31, 2009: $42,672.50 per month ($26.00 per rentable square foot of the Initial Demised
Premises per annum); 

  

	 	(iv)	From (and including) February 1, 2009 up to (and including) January 31, 2010: $45,134.38 per month ($27.50 per rentable square foot of the Initial Demised
Premises per annum); 

  

	 	(v)	From (and including) February 1, 2010 up to (but not including) the Replacement Effective Date: $42,672.50 per month ($26.00 per rentable square foot of the
Initial Demised Premises per annum); 

  

	 	(vi)	From (and including) the Replacement Effective Date up to (but not including) the date which is one (1) year after the Replacement Effective Date (the “One
Year Anniversary Date”): $11,240.67 per month ($26.00 per rentable square foot of the New Demised Premises per annum); 

  
 2 

	 	(vii)	From (and including) the One Year Anniversary Date up to (but not including) the date which is two (2) years after the Replacement Effective Date (the “Two
Year Anniversary Date”): $11,456.83 per month ($26.50 per rentable square foot of the New Demised Premises per annum); 

  

	 	(viii)	From (and including) the Two Year Anniversary Date up to (but not including) the date which is three (3) years after the Replacement Effective Date (the
“Three Year Anniversary Date”): $11,673.00 per month ($27.00 per rentable square foot of the New Demised Premises per annum); 

  

	 	(ix)	From (and including) the Three Year Anniversary Date up to (but not including) the date which is four (4) years after the Replacement Effective Date (the
“Four Year Anniversary Date”): $11,889.17 per month ($27.50 per rentable square foot of the New Demised Premises per annum); 

  

	 	(x)	From (and including) the Four Year Anniversary Date up to (but not including) the date which is five (5) years after the Replacement Effective Date (the “Five
Year Anniversary Date”): $12,105.33 per month ($28.00 per rentable square foot of the New Demised Premises per annum); and 

  

	 	(xi)	From (and including) the Five Year Anniversary Date up to (but not including) the date which is six (6) years after the Replacement Effective Date (the “Six
Year Anniversary Date”): $12,321.50 per month ($28.50 per rentable square foot of the New Demised Premises per annum); 

 In all cases Base Rent during any renewal term shall be governed by Section 4.01 hereof. Base Rent shall be payable per Section 5.01 hereof (it being understood that payment for
electricity per Section 8.02 hereof is an amount in addition to Base Rent). 
 2.4. Section 1.04(c) of the Lease is
amended by deleting such Section 1.04(c) in its entirety, and inserting in its place the following: 
 (c)
“Required Letter of Credit Amount” shall mean an amount equal to (i) in the case of any period prior to February 1, 2010, $512,070.00 and (ii) in the case of any period on or after February 1, 2010 but prior to the
Replacement Effective Date, $256,035.00 and (iii) in the case of any period on or after the Replacement Effective Date, $134,888.00. 
 2.5. Section 1.05 of the Lease is amended by deleting such Section 1.05 in its entirety (other than the heading “Section 1.05. Term”), and inserting in its place the following:

 The “Term” of this Lease shall commence on the Commencement Date and shall continue thereafter until the date which
is six (6) years after the Replacement Effective Date, unless sooner terminated or renewed in accordance with the provisions of this Lease. For purposes of clarification, the Term of this Lease with respect to the Initial Demised Premises shall
expire on the Replacement Effective Date. 

  
 3 

 2.6. Section 1.06 of the Lease is amended by (i) inserting the words “(a)
prior to the Replacement Effective Date,” before the words “Tenant’s Pro Rata Share” in the third line of such Section 1.06, and (ii) inserting the following after the word “8.066%” in the fifth line of such
Section 1.06: 
 and (b) effective as of the Replacement Effective Date (and thereafter), Tenant’s Pro Rata Share
shall be 2.125%, calculated as follows: Demised Premises of 5,188 rentable sq. ft. divided by the rental Area of Building of 244,179 sq. ft. = 0.02125 x 100 = 2.125%. 

2.7. Section 2.01(d) of the Lease is amended by deleting such Section 2.01(d) in its entirety, and inserting in its place the
following: 
 “Base Tax Rate” shall mean the real estate tax rate in effect for (i) in the case
of periods prior to February 1, 2010, the calendar year 2006, (ii) in the case of periods on and after February 1, 2010 but prior to the Replacement Effective Date, the calendar year 2010 and (iii) in the case of periods from and
after the Replacement Effective Date, the calendar year 2016. 
 2.8. Section 2.01(v) of the Lease is amended by deleting
such Section 2.01(v) in its entirety, and inserting in its place the following: 
 “Operating
Year” shall mean any calendar year. The “First Operating Year “ shall mean (i) in the case of periods prior to February 1, 2010, the calendar year 2006, (ii) in the case of periods on and after February 1, 2010 but
prior to the Replacement Effective Date, the calendar year 2010 and (iii) in the case of periods from and after the Replacement Effective Date, the calendar year 2016. 
 2.9. Section 2.01 of the Lease is amended by inserting the following new clauses at the end of such Section 2.01: 

(mm) “Amendment No. 2 to Lease” means Amendment No. 2 to Lease dated as of September 15, 2015
between Landlord and Tenant. 
 (nn) “Initial Demised Premises” shall have the meaning set forth in
Section 1.02 of this Lease. 
 (oo) “New Demised Premises” shall have the meaning set forth in
Section 1.02 of this Lease. 
 (pp) “New Demised Premises Work” shall have the meaning set forth
in Section 3.08 of this Lease. 
 (qq) “Replacement Effective Date” shall be the earlier of
(i) day on which Landlord shall have completed the New Demised Premises Work, or (ii) the day on which Tenant commences to do business in the New Demised Premises. Promptly following the Replacement Effective Date, Landlord and Tenant
shall execute a Replacement Effective Date Addendum in the form attached hereto as Exhibit G which shall confirm the Replacement Effective Date (it being agreed that the failure of either party to execute the Replacement Effective Date Addendum
shall not in any way affect the Replacement Effective Date or any other terms of this Lease). 

  
 4 

 2.10. The Lease is amended by inserting the following new Section 3.08 immediately
after Section 3.07 of the Lease: 
 Section 3.08. Certain Additional Work in connection with
Amendment No. 2 to Lease. 
 (a) The parties agree that the provisions of this Section 3.08 shall
apply to certain work that Landlord will perform to the New Demised Premises in connection with the parties entering into Amendment No. 2 to Lease (it being understood that none of the work described herein shall occur until after the Work
Start Date). The “Work Start Date” means the later to occur of (i) the date Amendment No. 2 to Lease is fully executed and delivered and (ii) the date the Axtria Conditions (as defined in Section 3 of Amendment No. 2 to
Lease) have been satisfied. 
 (b) The parties agree that Landlord, at Landlord’s sole cost and expense,
shall perform the following work for the New Demised Premises (such work being referred to herein as the “New Demised Premises Work”): (i) provide and install a new 6-ton supplemental air conditioning system, as described on Exhibit H
attached hereto, for the New Demised Premises, (ii) provide and install new carpet for the New Demised Premises at Tenant’s choice of color, (iii) paint the New Demised Premises at Tenant’s choice of color, (iv) replace
damaged ceiling tile in the New Demised Premises, (v) replace non-working light bulbs (if any) and/or ballasts within the New Demised Premises and (vi) replace the damaged window blinds within the New Demised Premises. The parties agree
that the New Demised Premises have been inspected by Tenant as of date the parties entered into Amendment No. 2 to Lease, and on the Replacement Effective Date are accepted by Tenant in its “AS, IS” condition (other than for Landlord
performing the New Demised Premises Work in accordance with the terms of this Section 3.08). Landlord shall use reasonable efforts to have the New Demised Premises Work completed by the date which is thirty (30) days after the Work Start
Date. Notwithstanding the foregoing, Landlord shall cause, as of the Replacement Effective Date, all Building systems to be operational and in good condition and repair. 

(c) All materials for the New Demised Premises Work shall be in accordance with Building standards. Landlord shall cause
the New Demised Premises Work to be completed in a good and workman-like manner and in conformance with all applicable building codes and laws. 
 2.11. Section 4.01(a) of the Lease is amended by inserting the following at the end of such Section 4.01(a): 
 For purposes of clarification, the parties agree that the provisions of this Section 4.01(a) shall apply to the New Demised Premises (and not the Initial Demised Premises). 

  
 5 

 2.12. Section 4.02 of the Lease is amended by deleting such Section 4.02 in its
entirety, and inserting in its place the following. 
 Section 4.02. Termination Option. (a) Tenant
shall have one option to terminate this Lease (the “18-Month Termination Option”) with respect to all (but not less than all) of the Demised Premises (for purposes of clarification, the Demised Premises meaning the New Demised Premises),
with such termination being effective on the date which is eighteen (18) months after the Replacement Effective Date (the “18-Month Termination Date”), provided that (i) there has been no Event of Default (or event or condition
which, with the passage of time or giving of notice, or both, would constitute an Event of Default) that has occurred and is continuing at the time of exercise of the option and (ii) Tenant pays Landlord, at least thirty (30) days before
the 18-Month Termination Date, an amount equal to the 18- Month Termination Amount. In the event Tenant desires to elect the 18- Month Termination Option, Tenant shall give Landlord written notice of its exercise of the 18-Month Termination Option
at least nine (9) months prior to the 18-Month Termination Date (the date which is nine (9) months prior to the 18-Month Termination Date is referred to herein as the “18-Month Termination Notice Final Date”). If Tenant fails to
timely notify Landlord of its exercise of the 18-Month Termination Option by the 18-Month Termination Notice Final Date, then the 18-Month Termination Option shall expire. The termination of the Lease pursuant to this Section 4.02(a) shall have
the same force and effect as if the 18-Month Termination Date were the originally scheduled Expiration Date of this Lease and as used elsewhere in this Lease, the term Expiration Date shall be interpreted to include the 18- Month Termination Date
where applicable (it being understood for purposes of clarification that Tenant’s obligation to pay Landlord the 18-Month Termination Amount shall survive the termination and expiration of this Lease). The term “18-Month Termination
Amount” means an amount equal to $100,000.00. 
 (b) Tenant shall also have one option to terminate this
Lease (the “27- Month Termination Option”) with respect to all (but not less than all) of the Demised Premises (for purposes of clarification, the Demised Premises meaning the New Demised Premises), with such termination being effective on
the date which is twenty-seven (27) months after the Replacement Effective Date (the “27-Month Termination Date”), provided that (i) there has been no Event of Default (or event or condition which, with the passage of time or
giving of notice, or both, would constitute an Event of Default) that has occurred and is continuing at the time of exercise of the option and (ii) Tenant pays Landlord, at least thirty (30) days before the 27-Month Termination Date, an amount
equal to the 27-Month Termination Amount. In the event Tenant desires to elect the 27-Month Termination Option, Tenant shall give Landlord written notice of its exercise of the 27-Month Termination Option at least nine (9) months prior to the
27-Month Termination Date (the date which is nine (9) months prior to the 27-Month Termination Date is referred to herein as the “27-Month Termination Notice Final Date”). If Tenant fails to timely notify Landlord of its exercise of
the 27-Month Termination Option by the 27-Month Termination Notice Final Date, then the 27-Month Termination Option shall expire. The termination of the Lease pursuant to this Section 4.02(b) shall have the same force and effect as if the
27-Month Termination Date were the originally scheduled Expiration Date of this Lease and as used elsewhere in this Lease, the term 

  
 6 

 
Expiration Date shall be interpreted to include the 27-Month Termination Date where applicable (it being understood for purposes of clarification that Tenant’s obligation to pay Landlord the
27-Month Termination Amount shall survive the termination and expiration of this Lease). The term “27- Month Termination Amount” means an amount equal to $85,000.00, 

(c) Tenant shall also have one option to terminate this Lease (the “3- Year Termination Option”) with respect
to all (but not less than all) of the Demised Premises (for purposes of clarification, the Demised Premises meaning the New Demised Premises), with such termination being effective on the date which is three (3) years after the Replacement
Effective Date (the “3-Year Termination Date”), provided that (i) there has been no Event of Default (or event or condition which, with the passage of time or giving of notice, or both, would constitute an Event of Default) that has
occurred and is continuing at the time of exercise of the option and (ii) Tenant pays Landlord, at least thirty (30) days before the 3-Year Termination Date, an amount equal to the 3-Year Termination Amount. In the event Tenant desires to
elect the 3-Year Termination Option, Tenant shall give Landlord written notice of its exercise of the 3-Year Termination Option at least nine (9) months prior to the 3-Year Termination Date (the date which is nine (9) months prior to the
3-Year Termination Date is referred to herein as the “3- Year Termination Notice Final Date”). If Tenant fails to timely notify Landlord of its exercise of the 3-Year Termination Option by the 3-Year Termination Notice Final Date, then the
3-Year Termination Option shall expire. The termination of the Lease pursuant to this Section 4.02(c) shall have the same force and effect as if the 3-Year Termination Date were the originally scheduled Expiration Date of this Lease and as used
elsewhere in this Lease, the term Expiration Date shall be interpreted to include the 3- Year Termination Date where applicable (it being understood for purposes of clarification that Tenant’s obligation to pay Landlord the 3-Year Termination
Amount shall survive the termination and expiration of this Lease). The term “3-Year Termination Amount” means an amount equal to $70,000.00. 
 2.13. Section 8.01(c) of the Lease is amended by inserting the following at the end of such Section 8.01(c): 
 Notwithstanding the foregoing, effective as of the Replacement Effective Date and thereafter, access to the parking in the Parking Area shall be granted 4 cars per each 1,000 rentable square feet
(i.e. 21 cars for 5,188 rentable square feet) and of the number of parking spaces to which Tenant is granted access pursuant to this sentence, Landlord will designate 4 spaces as “reserved” for Tenant. 

2.14. Exhibit B to the Lease is amended by inserting the word “Initial” before the words “Demised Premises” each time
the words “Demised Premises” appear in such Exhibit B. 
 2.15. The Lease is amended by inserting, after Exhibit B to
the Lease and as a new Exhibit B-l to the Lease, Exhibit B-l attached hereto. 
 2.16. The Lease is amended by inserting, after
Exhibit F to the Lease and as new Exhibits G and H to the Lease, Exhibits G and H attached hereto. 

  
 7 

 SECTION 3. AXTRIA LEASE. 

The parties acknowledge that as of the date hereof Landlord and Axtria, Inc. (“Axtria”) are currently in discussions to enter
into a lease for the Initial Demised Premises, plus certain additional space in the building located at 400 Connell Drive. Notwithstanding anything contained herein, the parties agree that the termination of the Lease with respect to the Initial
Demised Premises described in Section 1 hereof and the amendments to the Lease set forth in Section 2 hereof are each subject to, by a date no later than 5:00 p.m. on November 1, 2015 (the “Cut-Off Date”) (i) Landlord
having entered into (and having received a fully executed copy of), a lease agreement or lease agreements with Axtria (or an affiliate of Axtria) in form and substance (including, without limitation, the rental rate, lease term and rent commencement
date) satisfactory to Landlord in its sole discretion (the “Axtria Lease”), pursuant to which Axtria (or an affiliate of Axtria) will lease from Landlord the space described herein as the Initial Demised Premises and certain space in the
building located at 400 Connell Drive and (ii) all of the conditions set forth in the Axtria Lease relating to Axtria obtaining the New Jersey State incentives have been satisfied (or waived by Axtria) (the conditions described in clauses
(i) and (ii) being collectively referred to as the “Axtria Conditions”). In the event that the Axtria Conditions have not been satisfied by the Cut-Off Date, then on the Cut-Off Date (x) this Amendment shall automatically
terminate and be null and void and of no force or effect whatsoever, and the Lease shall continue with the same force and effect as if Landlord and Tenant never entered into this Amendment. Landlord shall provide Tenant with prompt written notice
when and if the Axtria Conditions are satisfied (and prompt written notice if they are not satisfied by the Cut-Off Date). Tenant acknowledges and agrees that Landlord does not and shall not make any representation or warranty of any kind that the
Axtria Conditions will be satisfied, and Landlord shall not have any liability to Tenant in the event the Axtria Conditions are not satisfied. 
 SECTION 4. BROKER 
 Tenant and Landlord each represents that there was no broker
other than the Extension Broker (which is Cushman & Wakefield of New Jersey, Inc.) responsible for bringing about or negotiating this Amendment (including the lease of the New Demised Premises). Each party agrees to defend, indemnify, and
hold the other party harmless against any claims for brokerage commission or compensation with regard to the lease of the New Demised Premises reflected in this Amendment by any other broker claiming or alleging to have acted on behalf of or to have
dealt with such party. Landlord, at Landlord’s sole cost and expense, will pay any fees or commissions due the Extension Broker pursuant to a separate written agreement previously entered into between Landlord and the Extension Broker.

 SECTION 5. MISCELLANEOUS. 
 Tenant agrees that it shall immediately pay Landlord any undisputed past due amounts owed by Tenant to Landlord as of the date this Amendment is fully executed and delivered. 

This Amendment shall be governed by and construed in accordance with the laws of the State of New Jersey. Any and all notices, requests,
certificates and other documents executed and delivered concurrently with or after the delivery of this Amendment may refer to the Lease without making specific reference to this Amendment, but nevertheless all such references shall be deemed to
include this Amendment unless the context shall otherwise require. The Lease shall remain in full force and effect in accordance with its terms as modified and amended by this Amendment, and, as so modified and amended, is in all respects ratified,
confirmed and approved by the parties hereto. To the extent there are any inconsistencies or ambiguities between the specific subject matter of this Amendment and the Lease, the terms of this Amendment shall be controlling. This Amendment supersedes
all prior arrangements and understandings between the parties, either written or oral, with respect to its subject matter. 

  
 8 

 This Amendment may be executed in two or more identical counterparts, all of which shall be
considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains
a portable document format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such
signature page were an original thereof. 
 IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed as of
the day and year first above written. 
  

							
	THE CONNELL COMPANY	 		 	WITNESS OR ATTEST:
				
	By:	 	

	 		 	

	Name:	 	  
 Duane
Connell
	 		 	  
 Richard
Bartok

	Title:	 	Executive Vice President	 		 	Assistant Secretary
			
	AUTHENTIDATE HOLDING CORP.	 		 	WITNESS OR ATTEST:
				
	By:	 	

	 		 	

	Name:	 	  
 Ian C.
Bonnet
	 		 	  
 William A.
Marshall

	Title:	 	CEO	 		 	CFO

  
 9 

									
	 STATE OF
	  	 	)	  	  			
		  	 	)	  	  	 	SS.:	  
	 COUNTY OF
	  	 	)	  	  			

 On this          day of
                , 2015, before me personally appeared                  to me known, who,
being by me duly sworn, did depose and say that (s)he is the                          of AUTHENTIDATE HOLDING CORP., the
corporation described in and which executed the foregoing Amendment; that (s)he knows the seal of said corporation, that the seal affixed to said instrument is such corporate seal, that it was so affixed by authorization of the board of directors of
said corporation, and that (s)he signed his name thereto by like authorization. 
 IN WITNESS WHEREOF, I hereunto set my hand and
official seal. 
  

					
		  	  
	  	
		  	Notary Public	  	

  

									
	 STATE OF NEW JERSEY
	  	 	)	  	  			
		  	 	)	  	  	 	SS.:	  
	 COUNTY OF UNION
	  	 	)	  	  			

 On this 23 day of September, 2015, before me personally appeared Duane Connell to me known, who, being by
me duly sworn, did depose and say that (s)he is the Executive Vice President of THE CONNELL COMPANY, the corporation described in and which executed the foregoing Amendment; that (s)he knows the seal of said corporation, that the seal affixed to
said instrument is such corporate seal, that it was so affixed by authorization of the board of directors of said corporation, and that (s)he signed his name thereto by like authorization. 

IN WITNESS WHEREOF, I hereunto set my hand and official seal. 

 

					
		  	

	  	
		  	  
 Notary
Public
	  	
			
		  	 CHRISTOPHER O. JEGEDE

NOTARY PUBLIC OF NEW JERSEY
 REGISTERED IN UNION COUNTY
 My Commission Expires June 19,
2018
	  	

  
 10 

 Exhibit B-1 
 Rental Plan Showing New Demised Premises 
  
 

 
 300 Connell
Drive                                        
     
 First Floor Plan 

 EXHIBIT G 
 REPLACEMENT EFFECTIVE DATE ADDENDUM 
 Reference is made to the Lease dated as of
July 5, 2005, which was amended as of February 12, 2010 and as of September 15, 2015 (as amended, the “Lease”) between The Connell Company (“Landlord”) and Authentidate Holding Corp. (“Tenant”). Pursuant
to Section 2.01(qq) of the Lease, Landlord and Tenant are entering into this addendum to the Lease to confirm the date of the Replacement Effective Date under the Lease. 
 Landlord and Tenant hereby confirm that the Replacement Effective Date of the Lease is
                            . 

The parties agree that this addendum is intended solely to confirm the Replacement Effective Date, and this addendum shall not in any way
affect or modify any of the terms of the Lease. 
  

			
	 THE CONNELL COMPANY

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	 Date:
	 	  

	
	 AUTHENTIDATE HOLDING CORP.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	 Date:ex10-1.htm

Exhibit 10.1

 

TEMPORARY WAIVER

 

THIS TEMPORARY WAIVER AGREEMENT (the "Agreement") dated as of October 9, 2015, among NORTHWEST PIPE COMPANY, an Oregon corporation (the "Borrower"), the Lenders party hereto and BANK OF AMERICA, N.A., as Administrative Agent for the Lenders (the "Administrative Agent"). 

 

W I T N E S S E T H

 

 

WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to that certain Second Amended and Restated Credit Agreement dated as of October 24, 2012 (as previously amended or modified, the "Credit Agreement");

 

WHEREAS, the Borrower acknowledges that it has failed to comply with Sections 6.17(a) and 6.17(b) of the Credit Agreement with respect to the fiscal quarter ending September 30, 2015 (the "Specified Defaults"); 

 

WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders forbear from exercising their rights and remedies under the Credit Agreement and the other Loan Documents arising as a result of the occurrence of the Specified Defaults;

 

NOW, THEREFORE, IN CONSIDERATION of the premises and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

1.      Definitions. Unless the context otherwise requires, capitalized terms used but not otherwise defined herein shall have the meanings assigned in the Credit Agreement.

 

2.     Reaffirmation of Existing Debt. The Borrower acknowledges and confirms as of the date hereof (a) that the Administrative Agent, on behalf of the Lenders, has a valid and enforceable first priority perfected security interest in the Collateral, subject only to Liens permitted by the Credit Agreement, (b) that the Borrower’s obligation to repay the outstanding principal amount of the Loans and reimburse the L/C Issuer for any drawing on a Letter of Credit is unconditional and not subject to any offsets, defenses or counterclaims, (c) that the Administrative Agent and the Lenders have performed fully all of their respective obligations under the Credit Agreement and the other Loan Documents, and (d) by entering into this Agreement, the Lenders do not waive or release (except as specifically provided in Section 3 hereof) any term or condition of the Credit Agreement or any of the other Loan Documents or any of their rights or remedies under such Loan Documents or applicable law or any of the obligations of the Borrower thereunder.

 

3.     Temporary Waiver. The Lenders hereby agree to (a) forbear from exercising their rights and remedies arising from the Specified Defaults until the Waiver Termination Date (defined below) and (b) continue to make available to the Borrower Credit Extensions from the date hereof until the Waiver Termination Date. "Waiver Termination Date" means the earlier of (a) October 31, 2015 or (b) the occurrence of any Default (other than the Specified Defaults). The Administrative Agent and the Lenders shall be free to exercise any or all of their rights and remedies arising on account of (a) any Default or Event of Default (other than the Specified Defaults) at any time and (b) the Specified Defaults at any time upon or after the Waiver Termination Date. The period from the date hereof to (but excluding) the Waiver Termination Date shall be referred to as the "Waiver Period". 

 

4.     Waiver Period Borrowing Limitations. During the Waiver Period, subject to the terms and conditions hereof, the Lenders shall continue to honor the Borrower's Requests for Credit Extensions, subject to the limitations set forth in this Agreement and the Credit Agreement (other than those solely related to the Specified Defaults); provided that (a) with regard to the Lenders collectively, during the period from September 30, 2015 through October 31, 2015, the Total Outstandings shall not exceed the lesser of (i) the Aggregate Commitments and (ii) $25,000,000, (b) with regard to each Lender individually, such Lender’s Pro Rata Share of the sum of the Loans plus L/C Obligations outstanding at any time shall not exceed such Lender’s Commitment, and (c) all Borrowings made during the Waiver Period shall be made as Base Rate Loans. The Borrower shall make such prepayments of the Loans and/or Cash Collateralize L/C Obligations in the manner provided in Section 2.05(c) of the Credit Agreement to eliminate any excess in Total Outstandings not permitted by this Section 4. 

 

 

 

 

 

 

5.     Conditions Precedent. This Agreement shall become effective as of the date hereof subject to receipt by the Administrative Agent of: (i) counterparts of this Agreement, which collectively shall have been duly executed on behalf of the Borrower, the Administrative Agent, the Swing Line Lender and the Required Lenders and (ii) an amendment fee of $5,000 for the account each consenting Lender (unless such Lender has notified the Administrative Agent that it does not intend to receive such fee).

 

6.     Expenses. On the date hereof, the Borrower agrees to reimburse the Administrative Agent for all reasonable out-of-pocket costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Agreement, including without limitation the reasonable fees and expenses of Moore & Van Allen PLLC.

 

7.     Effect. Except as expressly modified and amended in this Agreement, all of the terms, provisions and conditions of the Credit Agreement are and shall remain in full force and effect, and the obligations of the Borrower hereunder and under the other Loan Documents are hereby ratified and confirmed and shall remain in full force and effect. Any and all other documents heretofore, now or hereafter executed and delivered pursuant to the terms of the Credit Agreement are hereby amended so that any reference to the Credit Agreement shall mean a reference to the Credit Agreement as amended hereby.

 

8.      Representations and Warranties. The Borrower represents and warrants to the Lenders that (i) the representations and warranties of the Borrower set forth in Article V of the Credit Agreement (other than Section 5.07 of the Credit Agreement, solely as a result of the Specified Defaults) are true and correct in all material respects as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they were true and correct in all material respects as of such earlier date, and except that for purposes of this Section 8, the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Credit Agreement, (ii) no Default (other than the Specified Defaults) exists and (iii) as of the date hereof, the Borrower has no counterclaims, offsets, credits or defenses to the Loan Documents and the performance of their respective obligations thereunder, or if the Borrower has any such claims, counterclaims, offsets, credits or defenses to the Loan Documents or any transaction related to the Loan Documents, the same are hereby waived, relinquished and released in consideration of the Lenders' execution and delivery of this Agreement.

 

9.     Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. Delivery of executed counterparts of this Agreement by telecopy or other secure electronic format (.pdf) shall be effective as an original.

 

10.     GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

11.     Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

 

 

 

 

 

 

12.     Authority/Enforceability. The Borrower represents and warrants as follows:

 

(a)     It has taken all necessary action to authorize the execution, delivery and performance of this Agreement.

 

(b)     This Agreement has been duly executed and delivered by such Person and constitutes such Person's legal, valid and binding obligation, enforceable in accordance with its terms, except as such enforceability may be subject to (i) Debtor Relief Laws and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity).

 

(c)     No consent, approval, authorization or order of, or filing, registration or qualification with, any court or Governmental Authority or third party is required in connection with the execution, delivery or performance by such Person of this Agreement.

 

(d)     The execution and delivery of this Agreement does not (i) violate, contravene or conflict with any provision of its Organization Documents or (ii) materially violate, contravene or conflict with any Laws applicable to it.

 

13.     Release. In consideration of the Lenders entering into this Agreement, the Borrower hereby releases the Administrative Agent, the Lenders, and the Administrative Agent's and the Lenders' respective officers, employees, representatives, affiliates, advisors, agents, managers, counsel and directors from any and all actions, causes of action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, now known or unknown, suspected or unsuspected to the extent that any of the foregoing arises from any action or failure to act on or prior to the date hereof.

 

14.     Incorporation of Agreement. Except as specifically modified herein, the terms of the Loan Documents shall remain in full force and effect. The execution, delivery and effectiveness of this Agreement shall not operate as a waiver of any right, power or remedy of the Administrative Agent under the Loan Documents, or constitute a waiver or amendment of any provision of the Loan Documents, except as expressly set forth herein. The breach of any provision or representation under this Agreement shall constitute an immediate Event of Default under the Credit Agreement, and this Agreement shall constitute a Loan Document.

 

15.     FATCA Certification. For purposes of determining withholding Taxes imposed under FATCA, from and after the date of this Amendment, the Borrower and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) the Credit Agreement as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).

 

 

UNDER OREGON LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS MADE BY A LENDER CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES OR SECURED SOLELY BY DEBTOR’S RESIDENCE MUST BE IN WRITING, EXPRESS CONSIDERATION AND BE SIGNED BY SUCH LENDER TO BE ENFORCEABLE.

 

 

 

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IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Agreement to be duly executed under seal and delivered as of the date and year first above written.

 

 

	
BORROWER:
	
NORTHWEST PIPE COMPANY
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
 
	
 

	
 
	
Name:
	
 
	
 

	
 
	
Title:
	
 
	
 

 

 

 

 

  

	
ADMINISTRATIVE AGENT: 
	
BANK OF AMERICA, N.A.,
	
 

	
 
	
as Administrative Agent

	
 
	
 
	
 
	
 

	
 
	
By: 
	
 
	
 

	
 
	
Name:
	
 
	
 

	
 
	
Title:
	
 
	
 

	 	 	 	 
	LENDERS:	 	 	 
	 	bank of america, n.a.,	 
	 	as a Lender, L/C Issuer and Swing Line Lender	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION	 
	 	as a Lender	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 	 
	 	MUFG union BANK, N.A. 	 
	 	as a Lender	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 	 
	 	BANK OF THE WEST,	 
	 	as a Lender	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,	 
	 	as a Lender	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:

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