Document:

ex10_16.htm

    
      

    

    Exhibit
10.16

    

    HOTEL
LEASE

    Amendment No.
2

    

    This
agreement, dated the 1st day of
September, 1977, by and between CHATEAU LOUISIANE, INC., a Louisiana corporation
hereinafter called "Landlord" and ROYAL SONESTA, INC., a Louisiana corporation,
assignee of Sonesta International Hotels Corporation, successor by merger of
Louisiana Sonesta Corporation (formerly The Royal Orleans, Inc.), which
corporations are hereinafter interchangeably referred to as
"Tenant",

    

    W I T N E
S S E T H   T H A T :

    

    WHEREAS,
by act dated December 12, 1967, registered C.O.B. 683-D, Folio 40-43, as amended
by agreement dated November 26, 1973, registered C.O.B. 723-C, Folio 269-272
(which act and agreement are hereinafter collectively called the "Lease"),
Landlord did lease to Tenant certain properties located in the City of New
Orleans, and

    

    WHEREAS,
it has become apparent that certain changes should be made in the Lease so as to
clarify the original intent of the parties,

    

    NOW,
THEREFORE, the parties agree that the Lease between them shall be and the same
is hereby further amended as follows:

    

    1.           By
providing that the furnishings and equipment provided by Landlord pursuant to
the provisions of Paragraph (c) of Section 7 of the Lease shall be construed as
a portion of the property leased by Landlord to Tenant.

    

    2.           By
adding the following to Section 8 of the Lease:

    

    "Tenant's
obligation to maintain the furnishings and equipment shall be construed in
accordance with the provisions of Articles 2719 and 2720 of the Revised Civil
Code of Louisiana, except only as modified by the obligations of the parties
pursuant to Sections 21 and 22 of this Lease."

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    3.           By
adding to Section 26 of the Lease, following the words "the demised premises",
the words "(including the furnishings and equipment)".

    

    IN
WITNESS WHEREOF, the parties have caused this agreement to be executed on the
date first above written.

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	
                                      Witnesses:

                                    	 
      	
                                      CHATEAU
      LOUISIANE, INC.

                                    
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                      By
      

                                    	
                                      /s/ Lester E. Kabacoff

                                    	 
      
	 
      	 
      	 
      	
                                      Lester
      E. Kabacoff, Vice President

                                    
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                      Attest

                                    	
                                      /s/ Stephen B. Lemann

                                    	 
      
	 
      	 
      	 
      	
                                      Stephen
      B. Lemann, Secretary

                                    
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                      ROYAL
      SONESTA, INC.

                                    
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                      By
      

                                    	
                                      /s/ John J. Duane

                                    	 
      
	 
      	 
      	 
      	
                                      John
      J. Duane, Vice President

                                    
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                                      Attest

                                    	 
      	 
      

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    

    The
undersigned Sonesta International Hotels Corporation (formerly Hotel Corporation
of America), as guarantor of the obligations of Tenant pursuant to the Lease
dated December 12, 1967, as amended by agreement dated November 26, 1973, does
hereby consent to the execution of the above and foregoing amendment and agrees
that it shall remain obligated in solido with Royal Sonesta, Inc. pursuant to
the terms of the Lease as amended by the foregoing Amendment No. 2, and agrees
that its obligations as guarantor of the Royal Orleans Hotel Lease, as modified
by the terms of the assignment thereof, also remain in full force and
effect.

    

    
      
        
          
            
              
                
                  
                    	
                            Witnesses:

                          	 
      	
                            SONESTA
      INTERNATIONAL HOTELS CORPORATION

                          
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                            By
      

                          	
                            /s/ John J. Duane

                          	 
      
	 
      	 
      	 
      	
                            John
      J. Duane, Vice
President

                          

                  

                

              

            

          

        

      

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      
        
          	 
      	 
      	
                  Attest

                	 
      	 
      

        

      

    

    

    Consent
is hereby granted to the foregoing Amendment No. 2:

    

    
      
        
          
            
              
                
                  	 
      	
                          THE
      EQUITABLE LIFE ASSURANCE

                        
	 
      	
                          SOCIETY
      OF THE UNITED STATES

                        
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	
                          By

                        	 
      	 
      
	 
      	 
      	
                          Vice
      President

                        	 
      

                

              

            

          

        

      

    

    

    

    

    STATE OF
LOUISIANA

    

    PARISH OF
ORLEANS

    

    On this
19th
day of July, 1977, before me appeared LESTER E. KABACOFF, to me personally
known, who being by me duly sworn, did say that he is the Vice President of
CHATEAU LOUISIANE, INC., and that the above and foregoing instrument was signed
and sealed on behalf of the corporation by authority of its Board of Directors,
and the said appearer acknowledged the instrument to be the free act and deed of
said corporation.

    

    

    

    
      
        
          
            	 
      	 
      	 
      
	 
      	
                    Notary
      Public

                  	 
      

          

        

      

    

    

    

    

    COMMONWEALTH
OF MASSACHUSETTS

    

    COUNTY OF
SUFFOLK

    

    

    

    On this
1st
day of September, 1977, before me appeared John J. Duane, to me personally
known, who being by me duly sworn, did say that he is the Vice President of
ROYAL SONESTA, INC., and that the above and foregoing instrument was signed and
sealed on behalf of the corporation by authority of its Board of Directors, and
the said appearer acknowledged the instrument to be the free act and deed of
said corporation.

    

    

    

    
      
        
          	 
      	 
      	 
      
	 
      	
                  Notary
      Public

                	 
      

        

      

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    COMMONWEALTH
OF MASSACHUSETTS

    

    COUNTY OF
SUFFOLK

    

    On this
1st
day of September, 1977, before me appeared John J. Duane, to me personally
known, who being by me duly sworn, did say that he is the Vice President of
SONESTA INTERNATIONAL HOTELS CORPORATION, and that the above and foregoing
instrument was signed and sealed on behalf of the corporation by authority of
its Board of Directors, and the said appearer acknowledged the instrument to be
the free act and deed of said corporation.

    

    

    
      
        
          	 
      	 
      	 
      
	 
      	
                  Notary
      Public

                	 
      

        

      

    

     

     

    4FIRST
LEASE MODIFICATION AGREEMENT

    

    First Lease Modification Agreement
("First Modification") dated as of May 14, 2008 between MED 469 LLC; Rector 469
LLC and TPP 469 LLC, c/o Williams U.S.A. Realty Services, Inc., 380 Madison
Avenue, New York, New York, 10017 (hereinafter collectively referred to as the
"Landlord") and Traffix, Inc. ("Tenant").

    

    WHEREAS, by a lease agreement dated as
of April 14, 2008 (hereinafter referred to as the “Lease”), Tenant leased from
Landlord a portion of the tenth (10th) floor
known as Room 1001(hereinafter referred to as the "Original Demised Premises")
in the building known as 469 Seventh Avenue, New York, New York (the "Building")
for a term which is to expire on September 30, 2018; and

    

    WHEREAS, Landlord and Tenant now desire
to amend the Lease to (i) provide for Tenant to rent additional office space
consisting of a portion of the tenth floor known as Room 1002 and as shown on
the plan attached hereto (the “Additional Space”); and (ii) otherwise modify the
terms of the Lease as provided below;

    

    NOW THEREFORE, in consideration of the
mutual covenants herein contained the parties hereto mutually covenant and agree
as follows:

    

    1.   Effective
as of the Additional Space Commencement Date, as such term is defined below,
Landlord shall deliver, and Tenant shall accept the Additional Space in broom
clean and otherwise in its "as is" condition, and the following amendments to
the Lease with respect to the Additional Space only shall become effective, the
intent herein being that Tenant shall pay both (a) the charges set forth in the
Lease in the manner set forth in the Lease for the Original Demised Premises
plus (b) the charges set forth herein for the Additional Space. Thereupon, the
premises demised to Tenant under the Lease shall be deemed to consist of the
Additional Space and the Original Demised Premises, and the leasing of such
Additional Space shall be upon all of the terms and conditions contained in the
Lease except that no work, work allowance or rent concession is to be performed
or granted by Landlord with respect to the Additional Space except as otherwise
expressly set forth herein and the following amendments to the Lease shall
become effective:

    

    (i)           the
"annual rental rate" with respect to solely to the Additional Space shall
be:

    

    a)           
$215,213.00 per year from the Additional Space Commencement Date to the last day
of the First (1st) “Lease
Year” (defined below);

    

    b)           
$221,669.00 per year from the first day of the Second (2nd) Lease
Year to the last day of the Second (2nd) Lease
Year;

    

    c)           
$228,319.00 per year from the first day of the Third (3rd) Lease
Year to the last day of the Third (3rd) Lease
Year;

    

    d)           
$235,169.00 from the first day of the Fourth (4th) Lease
Year to the last day of the Fourth (4th) Lease
Year;

    

    e)           
$242,224.00 per year from the first day of the Fifth (5th) Lease
Year to the last day of the Fifth (5th) Lease
Year;

    

    f)          
  $263,228.00 per year from the first day of the Sixth (6th) Lease
Year to the last day of the Sixth (6th) Lease
Year;

    

    g)           
$271,125.00 per year from the first day of the Seventh (7th) Lease
Year to the last day of the Seventh (7th) Lease
Year;

    

    h)           
$279,258.00 per year from the first day of the Eighth (8th) Lease
Year to the last day of the Eighth (8th) Lease
Year;

    

    i)            
$287,636.00 per year from the first day of the Ninth (9th) Lease
Year to the last day of the Ninth (9th) Lease
Year;

    

    j)           
 $296,265.00 per year from the first day of the Tenth (10th) Lease
Year to the last day of the Tenth (10th) Lease
Year; and

    

    k)           
$305,153.00 per year from the first day of the Eleventh (11th) Lease
Year to January 31, 2019;

    

    (ii)           the
percentage utilized for computing additional rent due to Real Estate Tax
Increases as set forth in Article 35 of the Lease with respect to the Additional
Space shall be 1.831;

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (iii) the
additional rent due for the use of water, as set forth in Article 64 of the
Lease, and the contract price for sprinkler advisory service, as set forth in
Article 65 of the Lease with respect to the Additional Space, shall each be
$37.00;

     

    (iv)           Article
76.02 (2) of the Lease shall be deemed deleted from the Lease and replaced with
the following Article 76.02: “76.02 (2)  Provided all of the
conditions set forth in subparagraph 76.02(1)(i), (ii) and (iii) above have been
met, the Letter of Credit referred to in this article shall be reduced on the
3rd
anniversary of the Commencement Date by $116,150.24  and on the 5th
anniversary of the Commencement Date by $116,150.24 so that if Tenant meets all
of the requirements set forth in subparagraph 76.02(1) above the Letter of
Credit shall ultimately be reduced to $232,300.50. On or after each such date,
Tenant shall request in writing of Landlord as to whether the applicable
conditions have been met, and, if so, Landlord shall authorize Tenant to direct
the issuer of the Letter of Credit to issue an amendment thereto reducing the
amount as provided herein, and Landlord agrees to execute and accept such
amendment and return it to Tenant.”

    

    (v) the
provisions of Article 77 of the Lease shall be applicable with respect to the
Additional Space except that the “Landlord Maximum Contribution” as such term is
defined therein shall be modified so as to mean “$160,265.00” with respect to
the Additional Space.

    

    (vi)
Article 78 of the Lease shall be deemed deleted therefrom;

    

    (vii)           For
purposes of this First Modification,  the term (A) Additional Space
Commencement Date shall mean the
date  which  (i)  which is three (3) business days
after the date in which Landlord gives notice to Tenant that the Landlord’s
Work, as such term is defined herein, required to be performed by Landlord,
solely with respect to Additional Space has been “substantially completed”, or
(ii) which Tenant (or its agent) enters, uses or occupies any portion of the
Additional Space, the earlier of which to occur.; and (B)"substantially
completed” shall be deemed to mean the date when Landlord's Work shall have been
completed with the exception of punch list items and insubstantial details which
do not prevent Tenant from conducting its business in the Additional
Space.

    

     (viii)
For purposes of this First Lease Modification, the First "Lease Year" shall mean
the period from the Additional Space Commencement Date through the last day of
the month in which the anniversary of the Additional Space Commencement Date
occurs unless the Additional Space Commencement Date is the first day of the
month, in which event the First Lease Year shall end on the date preceding the
first anniversary thereof.  Each successive Lease Year shall mean
successive twelve (12) calendar months and the Eleventh Lease Year shall end on
September  30, 2018;

     

    
      	
               
      

            	
              2.

            	
              Landlord
      agrees to perform the following work within the Additional
      Space:

            

    

    

    
      	
               
      

            	
              (i)

            	
              Demolish
      and remove all existing interior non-load bearing drywall partitions and
      other installations, inclusive of the existing air-conditioning unit, if
      any, from the demised premises, and bring the wiring associated with the
      Landlord’s Class E fire alarm system to a designated point of the
      Additional Space and Tenant shall thereafter be responsible to connect
      same to the designated points of the Class E fire alarm
      system.  Landlord will leave the existing Class E devices
      (speaker, strobes etc.) and wiring in place or hanging from the ceiling.
      Landlord will remove the wooden radiator enclosures, if any, but will not
      remove the metal fin covers.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              Remove
      existing air-conditioning unit and window unit and replace same with one
      (1) new building standard ten (10) ton air-conditioning unit in location
      as designated by Tenant and approved by Landlord, and replace the window
      openings that have louvers with new windows. Tenant shall, at its sole
      cost and expense, be responsible for any and all related distribution
      ductwork.

            

    

    

    
      	
               
      

            	
              (iii)

            	
              Deliver
      the existing windows clean and in working
order;

            

    

    

    
      	
               
      

            	
              (iv)

            	
              Remove
      all existing flooring down to the
concrete.

            

    

    

    Items (i)
(ii) (iii) and (iv) above and the matters described in Section 6 below are
hereinafter collectively referred to as the “Landlord’s Work”)

    

    3.           Anything
contained herein to the contrary notwithstanding, Tenant's obligations to pay
the "Fixed Rent" with respect to the Additional Space shall commence as of the
date (the "Rent Date") which is one hundred thirty five (135) days after the
Additional Space Commencement Date except that Tenant shall pay all additional
rent otherwise payable hereunder including, without limitation, charges
attributable to electric service as of the Additional Space Commencement
Date.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    4.           Landlord
and Tenant warrant and represent to each other that they have had no dealings
with any broker or agent except Williams Real Estate Co. Inc., and Kaufman/Adler
Realty LLC  in connection with this First Modification and covenant
and agree to hold harmless and indemnify each other from and against any and all
costs, expenses or liability for any compensation, commissions, fees and charges
claimed by any other broker or agent with respect to this First Modification or
the negotiation thereof based on the actions of the indemnifying party, its
agents or representatives. The obligations of each party contained herein shall
survive the expiration and/or earlier termination of the Lease.

    

    5.           Upon
execution of this First Modification, Tenant shall furnish to Landlord an
amendment to the Letter of Credit which increases the face amount thereof by
$152,876.00.

    

    6.           Promptly
subsequent to the full execution of this First Modification and delivery of same
to both parties hereto and prior to completion of Landlord’s Work, Landlord
agrees, with respect to the Additional Space, to provide Tenant with an ACP-5
certificate, or comparable certificate providing in effect that plans for
alterations to be performed to the Additional Space may be filed by the New York
City Department of Buildings as a “no asbestos” project and that no action need
be taken regarding asbestos with respect to the Additional Space.  In
addition, Landlord will be responsible, at its sole cost and expense, as part of
Landlord’s Work to promptly encapsulate or remove any friable asbestos in the
Additional Space, provided however that any violations of laws relating to
asbestos not introduced by Tenant, its contractors and/or its invitees or caused
by Tenant’s construction shall be remedied by Tenant at its sole cost and
expense.

    

    7.           This
First Modification may not be changed, modified or canceled orally and shall be
binding upon and inure to the benefit of the respective parties hereto, their
successors, and except as otherwise provided in the Lease, their
assigns.

    

    8.           
As modified and extended by this First Modification, the Lease is hereby
ratified and confirmed in all respects.

    

    IN WITNESS WHEREOF, the parties hereto
have executed this agreement as of the day and year first above
written.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	
                                      Witness
      for Landlord:

                                    	 	
                                      Landlord:

                                    
	 
      	 	 
      	 
      
	 
      	 	
                                      MED
      469 LLC; Rector 469 LLC and TPP469 LLC

                                    
	 
      	 	 
      	 
      
	
                                       

                                    	 	 	
                                      BY:

                                    	  
      
	 
      	 	 
      	
                                      Martin
      Meyer, Authorized Signatory

                                    
	 
      	 	 
      	 
      
	
                                      Witness
      for Tenant:

                                    	 	
                                      Tenant:

                                    
	 
      	 	 
      	 
      
	 
      	 	
                                      Traffix
      Inc.

                                    
	 
      	 	 
      	 
      
	
                                       

                                    	 	 
      	
                                      BY:

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