Document:

Exhibit 10.18

 

	

    	
 

    

 

Oct 27, 2014

 

O.COM LAND LLC

CARTER LEE

6350 SOUTH 3000 EAST

SAL T LAKE CITY, UT

84121

 

OUR REF: 34355CB

 

Dear Sirs,

 

The purpose of this letter agreement is to set forth the terms and conditions of the Interest Rate Product Transaction entered into between us on the trade date referred to below. This letter constitutes a ‘Confirmation’ as referred to in the Interest Rate Swap Agreement specified below.

 

1.               If you and we are parties to a Master Agreement or Interest Rate and Currency Exchange Agreement that sets forth the general terms and conditions applicable to Swap Transactions between us ( the ‘Agreement’), this confirmation supplements, forms a part of, and is subject to, such Agreement. If you and we are not yet parties to an Agreement, this Confirmation evidences a complete binding agreement between you and us as to the terms of the Swap Transaction to which this Confirmation relates. In addition, upon the execution by you and us of an Interest Rate Swap Agreement ( the ‘Agreement’ ), in the form published by the International Swaps and Derivatives Association, Inc. ( ‘ISDA’ ), with such modifications as you and we shall in good faith agree, this Confirmation will supplement, form a part of, and be subject to the Agreement. All provisions contained or incorporated by reference in such Agreement upon its execution shall govern this Confirmation except as expressly modified below. The definitions and provisions contained in the 2006 ISDA Definitions, as published by the International Swaps and Derivatives Association, Inc., are incorporated into this Confirmation. In the event of any inconsistency between those definitions and provisions and this Confirmation, this Confirmation will govern. Both parties will make each payment specified in this Confirmation as being payable by it by transfer of the relevant amount in freely transferable funds to the account of the other party specified below. The obligations of the parties under this Confirmation will be calculated and payable on the basis of Net Payments. This agreement will be governed by and construed in accordance with the laws of the State of New York (without reference to choice of law doctrine). The Termination Currency will be US Dollars.

 

1

 

2.               The terms of the particular Interest Rate Product Transaction to which this confirmation relates are as follows:

 

Interest Rate Swap

 

	
Trade Entry Date
    	
:
    	
Oct   27, 2014
    
	
 
    	
 
    	
 
    
	
Effective Date
    	
:
    	
Sep   01, 2015, subject to no Adjustment
    
	
 
    	
 
    	
 
    
	
Termination Date
    	
:
    	
Oct   01, 2023, subject to no Adjustment
    
	
 
    	
 
    	
 
    
	
Notional Amount
    	
:
    	
USD   1,713,565.01
    

 

NOTIONAL BALANCES

 

	
From Date
    	
 
    	
To Date
    	
 
    	
Currency
    	
 
    	
Notional
    	
 
    
	
Sep 01, 2015
    	
 
    	
Oct   01, 2015
    	
 
    	
USD
    	
 
    	
1,713,565.01
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Oct 01, 2015
    	
 
    	
Nov   01, 2015
    	
 
    	
USD
    	
 
    	
4,393,157.68
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Nov 01, 2015
    	
 
    	
Dec   01, 2015
    	
 
    	
USD
    	
 
    	
7,072,749.88
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Dec 01, 2015
    	
 
    	
Jan   01, 2016
    	
 
    	
USD
    	
 
    	
9,618,788.29
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jan 01, 2016
    	
 
    	
Feb   01, 2016
    	
 
    	
USD
    	
 
    	
11,994,499.64
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Feb 01, 2016
    	
 
    	
Mar   01, 2016
    	
 
    	
USD
    	
 
    	
13,980,955.11
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Mar 01, 2016
    	
 
    	
Apr   01, 2016
    	
 
    	
USD
    	
 
    	
16,025,727.71
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Apr 01, 2016
    	
 
    	
May   01, 2016
    	
 
    	
USD
    	
 
    	
16,820,400.89
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
May 01, 2016
    	
 
    	
Jun   01, 2016
    	
 
    	
USD
    	
 
    	
17,608,936.81
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jun 01, 2016
    	
 
    	
Jul   01, 2016
    	
 
    	
USD
    	
 
    	
18,533,388.27
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jul 01, 2016
    	
 
    	
Aug   01, 2016
    	
 
    	
USD
    	
 
    	
19,421,268.56
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Aug 01, 2016
    	
 
    	
Sep   01, 2016
    	
 
    	
USD
    	
 
    	
20,187,645.86
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sep 01, 2016
    	
 
    	
Oct   01, 2016
    	
 
    	
USD
    	
 
    	
21,175,586.80
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Oct 01, 2016
    	
 
    	
Nov   01, 2016
    	
 
    	
USD
    	
 
    	
21,507,200.00
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Nov 01, 2016
    	
 
    	
Dec   01, 2016
    	
 
    	
USD
    	
 
    	
21,507,200.00
    	
 
    

 

2

 

	
Dec 01, 2016
    	
 
    	
Jan   01, 2017
    	
 
    	
USD
    	
 
    	
21,507,200.00
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jan 01, 2017
    	
 
    	
Feb   01, 2017
    	
 
    	
USD
    	
 
    	
21,507,200.00
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Feb 01, 2017
    	
 
    	
Mar   01, 2017
    	
 
    	
USD
    	
 
    	
21,463,163.35
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Mar 01, 2017
    	
 
    	
Apr   01, 2017
    	
 
    	
USD
    	
 
    	
21,419,126.70
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Apr 01, 2017
    	
 
    	
May   01, 2017
    	
 
    	
USD
    	
 
    	
21,375,090.05
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
May 01, 2017
    	
 
    	
Jun   01, 2017
    	
 
    	
USD
    	
 
    	
21,331,053.40
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jun 01, 2017
    	
 
    	
Jul   01, 2017
    	
 
    	
USD
    	
 
    	
21,287,016.75
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jul 01, 2017
    	
 
    	
Aug   01, 2017
    	
 
    	
USD
    	
 
    	
21,242,980.10
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Aug 01, 2017
    	
 
    	
Sep   01, 2017
    	
 
    	
USD
    	
 
    	
21,198,943.45
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sep 01, 2017
    	
 
    	
Oct   01, 2017
    	
 
    	
USD
    	
 
    	
21,154,906.80
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Oct 01, 2017
    	
 
    	
Nov   01, 2017
    	
 
    	
USD
    	
 
    	
21,110,870.15
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Nov 01, 2017
    	
 
    	
Dec   01, 2017
    	
 
    	
USD
    	
 
    	
21,066,833.50
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Dec 01, 2017
    	
 
    	
Jan   01, 2018
    	
 
    	
USD
    	
 
    	
21,022,796.85
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jan 01, 2018
    	
 
    	
Feb   01, 2018
    	
 
    	
USD
    	
 
    	
20,978,760.20
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Feb 01, 2018
    	
 
    	
Mar   01, 2018
    	
 
    	
USD
    	
 
    	
20,934,723.55
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Mar 01, 2018
    	
 
    	
Apr   01, 2018
    	
 
    	
USD
    	
 
    	
20,890,686.90
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Apr 01, 2018
    	
 
    	
May   01, 2018
    	
 
    	
USD
    	
 
    	
20,846,650.25
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
May 01, 2018
    	
 
    	
Jun   01, 2018
    	
 
    	
USD
    	
 
    	
20,802,613.60
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jun 01, 2018
    	
 
    	
Jul   01, 2018
    	
 
    	
USD
    	
 
    	
20,758,576.95
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jul 01, 2018
    	
 
    	
Aug   01, 2018
    	
 
    	
USD
    	
 
    	
20,714,540.30
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Aug 01, 2018
    	
 
    	
Sep   01, 2018
    	
 
    	
USD
    	
 
    	
20,670,503.65
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sep 01, 2018
    	
 
    	
Oct   01, 2018
    	
 
    	
USD
    	
 
    	
20,626,467.00
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Oct 01, 2018
    	
 
    	
Nov   01, 2018
    	
 
    	
USD
    	
 
    	
20,582,430.35
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Nov 01, 2018
    	
 
    	
Dec   01, 2018
    	
 
    	
USD
    	
 
    	
20,538,393.70
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Dec 01, 2018
    	
 
    	
Jan   01, 2019
    	
 
    	
USD
    	
 
    	
20,494,357.05
    	
 
    

 

3

 

	
Jan 01, 2019
    	
 
    	
Feb   01, 2019
    	
 
    	
USD
    	
 
    	
20,450,320.40
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Feb 01, 2019
    	
 
    	
Mar   01, 2019
    	
 
    	
USD
    	
 
    	
20,406,283.75
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Mar 01, 2019
    	
 
    	
Apr   01, 2019
    	
 
    	
USD
    	
 
    	
20,362,247.10
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Apr 01, 2019
    	
 
    	
May   01, 2019
    	
 
    	
USD
    	
 
    	
20,318,210.45
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
May 01, 2019
    	
 
    	
Jun   01, 2019
    	
 
    	
USD
    	
 
    	
20,274,173.80
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jun 01, 2019
    	
 
    	
Jul   01, 2019
    	
 
    	
USD
    	
 
    	
20,230,137.15
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jul 01, 2019
    	
 
    	
Aug   01, 2019
    	
 
    	
USD
    	
 
    	
20,186,100.50
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Aug 01, 2019
    	
 
    	
Sep   01, 2019
    	
 
    	
USD
    	
 
    	
20,142,063.85
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sep 01, 2019
    	
 
    	
Oct   01, 2019
    	
 
    	
USD
    	
 
    	
20,098,027.20
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Oct 01, 2019
    	
 
    	
Nov   01, 2019
    	
 
    	
USD
    	
 
    	
20,053,990.55
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Nov 01, 2019
    	
 
    	
Dec   01, 2019
    	
 
    	
USD
    	
 
    	
20,009,953.90
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Dec 01, 2019
    	
 
    	
Jan   01, 2020
    	
 
    	
USD
    	
 
    	
19,965,917.25
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jan 01, 2020
    	
 
    	
Feb   01, 2020
    	
 
    	
USD
    	
 
    	
19,921,880.60
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Feb 01, 2020
    	
 
    	
Mar   01, 2020
    	
 
    	
USD
    	
 
    	
19,877,843.95
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Mar 01, 2020
    	
 
    	
Apr   01, 2020
    	
 
    	
USD
    	
 
    	
19,833,807.30
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Apr 01, 2020
    	
 
    	
May   01, 2020
    	
 
    	
USD
    	
 
    	
19,789,770.65
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
May 01, 2020
    	
 
    	
Jun   01, 2020
    	
 
    	
USD
    	
 
    	
19,745,734.00
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jun 01, 2020
    	
 
    	
Jul   01, 2020
    	
 
    	
USD
    	
 
    	
19,701,697.35
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jul 01, 2020
    	
 
    	
Aug   01, 2020
    	
 
    	
USD
    	
 
    	
19,657,660.70
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Aug 01, 2020
    	
 
    	
Sep   01, 2020
    	
 
    	
USD
    	
 
    	
19,613,624.05
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sep 01, 2020
    	
 
    	
Oct   01, 2020
    	
 
    	
USD
    	
 
    	
19,569,587.40
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Oct 01, 2020
    	
 
    	
Nov   01, 2020
    	
 
    	
USD
    	
 
    	
19,525,550.75
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Nov 01, 2020
    	
 
    	
Dec   01, 2020
    	
 
    	
USD
    	
 
    	
19,481,514.10
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Dec 01, 2020
    	
 
    	
Jan   01, 2021
    	
 
    	
USD
    	
 
    	
19,437,477.45
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jan 01, 2021
    	
 
    	
Feb   01, 2021
    	
 
    	
USD
    	
 
    	
19,393,440.80
    	
 
    

 

4

 

	
Feb 01, 2021
    	
 
    	
Mar   01, 2021
    	
 
    	
USD
    	
 
    	
19,349,404.15
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Mar 01, 2021
    	
 
    	
Apr   01, 2021
    	
 
    	
USD
    	
 
    	
19,305,367.50
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Apr 01, 2021
    	
 
    	
May   01, 2021
    	
 
    	
USD
    	
 
    	
19,261,330.85
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
May 01, 2021
    	
 
    	
Jun   01, 2021
    	
 
    	
USD
    	
 
    	
19,217,294.20
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jun 01, 2021
    	
 
    	
Jul   01, 2021
    	
 
    	
USD
    	
 
    	
19,173,257.55
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jul 01, 2021
    	
 
    	
Aug   01, 2021
    	
 
    	
USD
    	
 
    	
19,129,220.90
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Aug 01, 2021
    	
 
    	
Sep   01, 2021
    	
 
    	
USD
    	
 
    	
19,085,184.25
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sep 01, 2021
    	
 
    	
Oct   01, 2021
    	
 
    	
USD
    	
 
    	
19,041,147.60
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Oct 01, 2021
    	
 
    	
Nov   01, 2021
    	
 
    	
USD
    	
 
    	
18,997,110.95
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Nov 01, 2021
    	
 
    	
Dec   01, 2021
    	
 
    	
USD
    	
 
    	
18,953,074.30
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Dec 01, 2021
    	
 
    	
Jan   01, 2022
    	
 
    	
USD
    	
 
    	
18,909,037.65
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jan 01, 2022
    	
 
    	
Feb   01, 2022
    	
 
    	
USD
    	
 
    	
18,865,001.00
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Feb 01, 2022
    	
 
    	
Mar   01, 2022
    	
 
    	
USD
    	
 
    	
18,820,964.35
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Mar 01, 2022
    	
 
    	
Apr   01, 2022
    	
 
    	
USD
    	
 
    	
18,776,927.70
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Apr 01, 2022
    	
 
    	
May   01, 2022
    	
 
    	
USD
    	
 
    	
18,732,891.05
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
May 01, 2022
    	
 
    	
Jun   01, 2022
    	
 
    	
USD
    	
 
    	
18,688,854.40
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jun 01, 2022
    	
 
    	
Jul   01, 2022
    	
 
    	
USD
    	
 
    	
18,644,817.75
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jul 01, 2022
    	
 
    	
Aug   01, 2022
    	
 
    	
USD
    	
 
    	
18,600,781.10
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Aug 01, 2022
    	
 
    	
Sep   01, 2022
    	
 
    	
USD
    	
 
    	
18,556,744.45
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sep 01, 2022
    	
 
    	
Oct   01, 2022
    	
 
    	
USD
    	
 
    	
18,512,707.80
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Oct 01, 2022
    	
 
    	
Nov   01, 2022
    	
 
    	
USD
    	
 
    	
18,468,671.15
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Nov 01, 2022
    	
 
    	
Dec   01, 2022
    	
 
    	
USD
    	
 
    	
18,424,634.50
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Dec 01, 2022
    	
 
    	
Jan   01, 2023
    	
 
    	
USD
    	
 
    	
18,380,597.85
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jan 01, 2023
    	
 
    	
Feb   01, 2023
    	
 
    	
USD
    	
 
    	
18,336,561.20
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Feb 01, 2023
    	
 
    	
Mar   01, 2023
    	
 
    	
USD
    	
 
    	
18,292,524.55
    	
 
    

 

5

 

	
Mar 01, 2023
    	
 
    	
Apr   01, 2023
    	
 
    	
USD
    	
 
    	
18,248,487.90
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Apr 01, 2023
    	
 
    	
May   01, 2023
    	
 
    	
USD
    	
 
    	
18,204,451.25
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
May 01, 2023
    	
 
    	
Jun   01, 2023
    	
 
    	
USD
    	
 
    	
18,160,414.60
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jun 01, 2023
    	
 
    	
Jul   01, 2023
    	
 
    	
USD
    	
 
    	
18,116,377.95
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Jul 01, 2023
    	
 
    	
Aug   01, 2023
    	
 
    	
USD
    	
 
    	
18,072,341.30
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Aug 01, 2023
    	
 
    	
Sep   01, 2023
    	
 
    	
USD
    	
 
    	
18,028,304.65
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Sep 01, 2023
    	
 
    	
Oct   01, 2023
    	
 
    	
USD
    	
 
    	
17,984,268.00
    	
 
    

 

FLOATING AMOUNTS

 

	
Floating Rate Payer
    	
:
    	
COMPASS   BANK
    
	
 
    	
 
    	
 
    
	
Period End Dates
    	
:
    	
Monthly   on the 1st commencing Oct 01, 2015 and ending with the Termination Date   subject to no Adjustment
    
	
 
    	
 
    	
 
    
	
Floating Rate Payer Payment
    	
:
    	
Monthly   on the 1st commencing Dates Oct 01, 2015 and ending with the Termination Date   subject to adjustment in accordance with the Modified Following Business Day   Convention
    
	
 
    	
 
    	
 
    
	
Floating Rate for Initial Calculation Period
    	
:
    	
To   be determined. 
    
	
 
    	
 
    	
 
    
	
Floating Rate Option
    	
:
    	
USD-LIBOR-BBA
    
	
 
    	
 
    	
 
    
	
Designated Maturity
    	
:
    	
1   month
    
	
 
    	
 
    	
 
    
	
Spread
    	
:
    	
None
    
	
 
    	
 
    	
 
    
	
Floating Rate Day Count Fraction
    	
:
    	
ACTUAL   /360 
    
	
 
    	
 
    	
 
    
	
Reset Dates
    	
:
    	
The   first day of each Calculation Period
    
	
 
    	
 
    	
 
    
	
Compounding
    	
:
    	
Inapplicable
    

 

6

 

FIXED AMOUNTS

 

	
Fixed   Rate Payer
    	
:
    	
O.COM   LAND LLC
    
	
 
    	
 
    	
 
    
	
Period   End Dates
    	
:
    	
Monthly   on the 1st commencing Oct 01, 2015 and ending with the Termination Date   subject to no Adjustment
    
	
 
    	
 
    	
 
    
	
Fixed   Rate Payer Payment
    	
:
    	
Monthly   on the 1st commencing Dates Oct 01, 2015 and ending with the Termination Date   subject to adjustment in accordance with the Modified Following Business Day   Convention
    
	
 
    	
 
    	
 
    
	
Fixed   Rate
    	
:
    	
2.580000   % per annum 
    
	
 
    	
 
    	
 
    
	
Fixed   Rate Day Count Fraction
    	
:
    	
ACTUAL   /360 
    
	
 
    	
 
    	
 
    
	
Calculation   Agent
    	
:
    	
COMPASS   BANK
    
	
 
    	
 
    	
 
    
	
Business   Days for Fixings in USD
    	
:
    	
New   York & London Bank Holidays
    
	
 
    	
 
    	
 
    
	
Business   Days for Payments in USD
    	
:
    	
New   York Banking 
    

 

3.               Relationship Between Parties. Each party will be deemed to represent to the other party on the date on which it enters into a Transaction that (absent a written agreement between the parties that expressly imposes affirmative obligations to the contrary for that Transaction):

 

(a)                  Non-Reliance. It is acting for its own account, and it has made its own independent decisions to enter into that Transaction and as to whether that Transaction is appropriate or proper for it based upon its own judgment and upon advice from such advisers as it has deemed necessary. It is not relying on any communication (written or oral) of the other party as investment advice or as a recommendation to enter into that Transaction: it being understood that information and explanations related to the terms and conditions of a Transaction shall not be considered investment advice or a recommendation to enter into that Transaction. No communication (written or oral) received from the other party shall be deemed to be an assurance or guarantee as to the expected results of that Transaction.

 

7

 

(b)                  Assessment and Understanding. It is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks of that Transaction. It is also capable of assuming, and assumes, the risks of that Transaction.

 

(c)                   Status of Parties. The other party is not acting as a fiduciary for or an adviser to it in respect of that Transaction.

 

4.               Please confirm that the foregoing correctly sets forth the terms and conditions of our agreement with respect to the Transaction by signing and returning this Confirmation to Compass Bank (see fax and mail instructions in Section 5 below), within ten (10) business days. Your failure to return an executed copy of this Confirmation, or to otherwise formally acknowledge agreement with its terms, within such period shall not affect the validity or enforceability of the Transaction as against you. Failure to return an executed copy of this Confirmation will be deemed to be an agreement to all terms and conditions contained in this Confirmation.

 

5.                       Payment Information:

 

Mail:

COMPASS BANK

Attn: TX-HO-HT-WBS

MIDDLE OFFICE CIB OPERATIONS

PO BOX 4444

HOUSTON, TX

77210-9830

 

Wire Instructions:

 

Compass Bank      ABA#      062001186      AC# 07790126253

 

Contact information for payments:

 

Phone: +1-877-559-3780

Fax: +1-205-297-2329

Email: CapitalMarkets.us@bbva.com

 

8

 

Please confirm that the foregoing correctly sets forth the terms of our agreement by executing the copy of this confirmation enclosed for that purpose and returning it to us.

 

	
O.COM   LAND LLC
    	
 
    	
COMPASS   BANK
    
	
 
    	
 
    	
 
    
	
/s/   Carter Lee
    	
 
    	
/s/   Joel Herrera 
    
	
Authorized   Signature
    	
 
    	
Authorized   Signature
    
	
 
    	
 
    	
 
    
	
Manager
    	
 
    	
Joel   Herrera / Vice President
    
	
 
    	
 
    	
 
    
	
Printed   Name / Title
    	
 
    	
Printed   Name / Title
    

 

9Exhibit 10.19

 

LEASE AGREEMENT

 

THIS LEASE AGREEMENT (this “Lease”) is made and entered into as of October 24, 2014, by and between O.COM LAND, LLC (“O.com”), a Utah limited liability company, and OVERSTOCK.COM, INC., a Delaware corporation (“OVERSTOCK”).

 

RECITALS

 

A.  O.com is currently building approximately 257,000 square feet of office space (“Buildings”) and a parking structure (“Parking Structure”) on a portion of Parcel “A” and Lot 10 of the View 72 Retail Subdivision Amended in Midvale City on real property more particularly described in Exhibit A attached hereto (the “Land”).

 

B.  Overstock desires to lease the Land, the Buildings and the Parking Structure (collectively, the “Premises”) from O.com for use as a corporate headquarters.

 

C.  O.com has agreed to lease the Premises to Overstock pursuant to the terms and conditions set forth hereinafter.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of their mutual promises and covenants set forth herein, the parties agree as follows:

 

1.  Lease and Term.  O.com does hereby lease the Premises to Overstock.  The term of this Lease is for a period of fifteen (15) years commencing the earlier of September 1, 2016 or the date upon which Overstock takes possession of the Premises and can legally occupy the Buildings.  In the event that any portion of the Buildings are not complete or cannot be occupied, Overstock shall only pay rent on the portion of the Buildings that it can occupy.

 

2. Rent and Additional Rent.

 

a. Base Rent.  Overstock shall pay base rent in the amount of five hundred ninety-five thousand, one hundred eighty-four dollars ($595,184) per month for the Buildings (“Base Rent”).

 

b. Additional Rent.  In addition to the Base Rent, Overstock shall pay for all operating costs of the Premises and all costs of owning the Premises (including, without limitation, payment of all insurance, taxes, and maintenance costs and expenses) with the exception of the costs of capital invested by O.com in the Premises in the construction of the Premises (“Additional Rent”).   Overstock will not be responsible for any portion of any capital improvements or long-term repairs that are attributable to years beyond the Term of this Lease.

 

3. Entire Agreement. This Lease is the entire agreement between the parties hereof.  No amendment to this Lease shall be valid unless in writing signed by both parties to the Lease.

 

 

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

 

	
 
    	
O.COM   LAND, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Carter Lee
    
	
 
    	
Name:
    	
Carter   Lee
    
	
 
    	
Title:
    	
Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
OVERSTOCK.COM, INC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert Hughes
    
	
 
    	
Name:
    	
Robert   Hughes
    
	
 
    	
Title:
    	
Senior   Vice President, Finance and Risk Management
    

 

 

EXHIBIT A

 

Legal Description

 

That certain real property located in Salt Lake County, Utah, more particularly described as follows:

 

PARCEL 1:

 

A PORTION OF PARCEL “A”, VIEW 72 RETAIL SUBDIVISION AMENDED, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

 

BEGINNING AT A POINT BEING SOUTH 00°17’30” WEST 2,022.66 FEET ALONG THE SECTION LINE AND NORTH 89°42’30” WEST 617.34 FEET FROM THE NORTHEAST CORNER OF SECTION 26, TOWNSHIP 2 SOUTH, RANGE 1 WEST, SALT LAKE BASE AND MERIDIAN; AND RUNNING THENCE SOUTH 00°17’30” WEST 464.63 FEET TO THE NORTH LINE OF THE UTAH TRANSIT AUTHORITY CORRIDOR; THENCE SOUTH 83°51’00” WEST 1,014.92 FEET ALONG THE NORTH LINE OF SAID UTAH TRANSIT AUTHORITY CORRIDOR TO THE EASTERLY RIGHT-OF-WAY LINE OF BINGHAM JUNCTION BOULEVARD; THENCE NORTH 06°11’37” WEST 169.67 FEET ALONG THE EASTERLY RIGHT-OF-WAY LINE OF SAID BINGHAM JUNCTION BOULEVARD; THENCE NORTHEASTERLY 637.50 FEET ALONG THE ARC OF A 1,327.00 FOOT RADIUS CURVE TO THE RIGHT (CENTER BEARS NORTH 83°48’23” EAST AND THE CHORD BEARS NORTH 07°34’08” EAST 631.38 FEET WITH A CENTRAL ANGLE OF 27°31’30”) ALONG THE EASTERLY RIGHT-OF-WAY LINE OF SAID BINGHAM JUNCTION BOULEVARD; THENCE SOUTH 68°31’47” EAST 311.79 FEET; THENCE SOUTHEASTERLY 567.76 FEET ALONG THE ARC OF A 1,536.00 FOOT RADIUS CURVE TO THE LEFT (CENTER BEARS NORTH 21°28’13” EAST AND THE CHORD BEARS SOUTH 79°07’09” EAST 564.53 FEET WITH A CENTRAL ANGLE F 21°10’43”); THENCE SOUTH 89°42’30” EAST 102.05 FEET TO THE POINT OF BEGINNING.

 

PARCEL 2:

 

LOT 10, VIEW 72 RETAIL SUBDIVISION AMENDED, ACCORDING TO THE PLAT THEREOF AS RECORDED IN THE OFFICE OF THE SALT LAKE COUNTY RECORDER.

 

Tax Parcel Nos.: 21-26-276-003-0000 and 21-26-279-002-0000

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