Document:

EX10.5 Sunroad 2 Lease Amendment

FIRST AMENDMENT TO LEASE
This First Amendment to Lease (the “First Amendment”), dated for reference purposes as of August 9, 2011, is entered into by and between SUNROAD CENTRUM OFFICE I, L.P., a California limited partnership (“Landlord”), and BRIDGEPOINT EDUCATION, INC., a Delaware corporation (“Tenant”), with reference to the following recitals.
RECITALS
A.Landlord and Tenant entered into a Standard Form Modified Gross Office Lease dated November 10, 2010 (the “Lease”) for that certain premises identified in the Lease and consisting of an 8-story to-be-constructed building known as Building II in the Sunroad Centrum Project in the Kearny Mesa area of San Diego, California (the “Building”).
B.Landlord and Tenant wish to amend the Lease on the terms and conditions set forth below.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
1.Outside Delivery Dates.  Section 4.1.4 of the Lease is hereby amended to change the Outside Delivery Date (as it may be extended under said section) for floors 2, 3 and 4 of the Building to February 28, 2013, and to change the Outside Delivery Date (as it may be extended under said section) with respect to floors 1, 5, 6, 7 and 8 of the Building to April 30, 2013.
2.Conflict.  If there is a conflict between the terms and conditions of this First Amendment and the terms and conditions of the Lease, the terms and conditions of this First Amendment shall control.  Except as modified by this First Amendment, the terms and conditions of the Lease shall remain in full force and effect.  Capitalized terms included in this First Amendment shall have the same meaning as capitalized terms in the Lease unless otherwise defined herein.  Tenant hereby acknowledges and agrees that the Lease is in full force and effect, Landlord is not currently in default under the Lease, and, to the best of Tenant's knowledge, no event has occurred which, with the giving of notice or the passage of time, or both, would ripen into Landlord's default under the Lease.
3.Authority.  The persons executing this First Amendment on behalf of the parties hereto represent and warrant that they have the authority to execute this First Amendment on behalf of said parties and that said parties have authority to enter into this First Amendment.
4.Brokers.  Tenant and Landlord each represent and warrant to the other that neither has had any dealings or entered into any agreements with any person, entity, broker or finder in connection with the negotiation of this First Amendment, and no other broker, person, or entity is entitled to any commission or finder's fee in connection with the negotiation of this First Amendment, and Tenant and Landlord each agree to indemnify, defend and hold the other harmless from and against any claims, damages, costs, expenses, attorneys' fees or liability for compensation or charges which may be claimed by any such unnamed broker, finder or other similar party by reason of any dealings, actions or agreements of the indemnifying party.

1

5.Counterparts.  This First Amendment may be executed in counterparts.  Each counterpart shall be deemed an original, and all counterparts shall be deemed the same instrument with the same effect as if all parties hereto had signed the same signature page.
6.No Further Modification.  Except as set forth in this First Amendment, all the terms and provisions of the Lease shall apply and shall remain unmodified and in full force and effect. 
IN WITNESS WHEREOF, the parties hereby execute this First Amendment as of the date first written above.
	
						
	LANDLORD:
	 
	TENANT:
	 

	 
	 
	 
	 
	 
	 

	Sunroad Centrum Office I, L.P., 
a California limited partnership
	 
	Bridgepoint Education, Inc., 
a Delaware corporation
	 

	 
	 
	 
	 
	 
	 

	By:
	Sunroad Asset Management, Inc.
	 
	By:
	/s/ Andrew S. Clark
	 

	 
	a Californai corporation
	 
	 
	Andrew S. Clark
	 

	 
	 
	 
	Its:
	Chief Executive Officer
	 

	 
	 
	 
	 
	 
	 

	By:
	/s/ Dan Feldman
	 
	By:
	/s/ Daniel J. Devine
	 

	 
	Dan Feldman
	 
	 
	Daniel J. Devine
	 

	Its:
	President
	 
	Its:
	Chief Financial Officer
	 

2exhibit10_3.htm

  

  

  

EXECUTION VERSION

Exhibit 10.3

 

 

AMENDMENT NO.  4

AMENDMENT NO. 4, dated as of  August 31, 2010 (this “Amendment”), by and among BOARDWALK PIPELINES, LP, a Delaware limited partnership (the “Parent Borrower”), TEXAS GAS TRANSMISSION, LLC, a Delaware limited liability company (“Texas Gas”), and GULF SOUTH PIPELINE COMPANY, LP,  a Delaware limited partnership (“Gulf South” and, together with the Parent Borrower and Texas Gas, the “Borrowers”), severally as Borrowers, BOARDWALK PIPELINE PARTNERS, LP, a Delaware limited partnership (the “MLP”), the Lenders party hereto, and WELLS FARGO BANK, N.A. (as successor to Wachovia Bank, National Association), as administrative agent for the Lenders and the Issuers (in such capacity, the “Administrative Agent”).

 

W I T N E S S E T H:

 

WHEREAS, the Borrowers, the MLP, the Administrative Agent, the Lenders and the other parties thereto have entered into that certain Amended and Restated Revolving Credit Agreement, dated as of June 29, 2006 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”); and

 

WHEREAS, the Borrowers have requested and the Lenders have agreed, subject to the terms and conditions hereinafter set forth, to amend the Credit Agreement as set forth below.

 

NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

1. Defined Terms.  Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Credit Agreement.

 

2. Amendments and Consent.  On the Effective Date, and notwithstanding anything to the contrary contained in the Credit Agreement or the other Loan Documents (including, without limitation, Section 2.5 of the Credit Agreement), (i) the aggregate Revolving Credit Commitments of Lehman Commercial Paper, Inc. (“Lehman”) shall be permanently and irrevocably reduced to zero ($0.00), (ii) after giving effect to such termination, the aggregate Revolving Credit Commitments shall be $950,000,000, and (iii) the Revolving Credit Sublimits of each of the Parent Borrower, Texas Gas, and Gulf South shall be reduced to $522,500,000, $190,000,000 and $237,500,000, respectively.  Concurrently with any subsequent payment of any Facility Fee to the Lenders pursuant to Section 2.11(a) of the Credit Agreement or any Letter of Credit fee to the Lenders pursuant to Section 2.11(c)(ii) of the Credit Agreement, in each case, with respect to any period before the Effective Date, the Borrower shall pay to Lehman its ratable share (based on its Revolving Credit Commitment immediately prior to the Effective Date) of such Facility Fee or Letter of Credit fee, as applicable.  From and after the Effective Date, (i) Lehman shall have no further obligation to fund any amount or extend any credit under the Loan Documents and (ii) except as specified in the prior sentence, Lehman shall, for all purposes, be deemed to no longer be a Lender or a party to, or beneficiary of, the Credit Agreement or Loan Documents.

 

3. Conditions to Effectiveness of this Amendment.  This Amendment shall become effective as of the date (the “Effective Date”) the Administrative Agent shall have received counterparts of this Amendment duly executed and delivered by each of the Borrowers, the MLP, the Administrative Agent, Lehman and the Required Lenders under the Credit Agreement.

 

4. Representations and Warranties.  Each Loan Party hereby represents and warrants to the Administrative Agent and the Lenders, on and as of the date hereof, that:

 

  

  

  

EXHIBIT 10.3

 

(a) (i) Such Loan Party has taken all necessary action to authorize the execution, delivery and performance of this Amendment, (ii) this Amendment has been duly executed and delivered by such Loan Party and (iii) this Amendment is the legal, valid and binding obligation of such Loan Party, enforceable against it in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles.

 

(b) After giving effect to this Amendment, each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents (other than the representations and warranties set forth in Sections 3.2 and 3.6 of the Credit Agreement) is true and correct in all material respects on and as of the date hereof, as if made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties are true and correct in all material respects as of such earlier date.

 

(c) After giving effect to this Amendment, no Default or Event of Default has occurred and is continuing as of the date hereof.

 

5. Reaffirmation.

 

(a) Each Loan Party hereby consents to the execution, delivery and performance of this Amendment and agrees that each reference to the Credit Agreement in the Loan Documents shall, on and after the Effective Date, be deemed to be a reference to the Credit Agreement as amended by this Amendment.

 

(b) Each Loan Party hereby acknowledges and agrees that, after giving effect to this Amendment, all of its respective obligations and liabilities under the Loan Documents to which it is a party are reaffirmed, and remain in full force and effect.

 

6. Continuing Effect.  Except as expressly set forth in this Amendment, all of the terms and provisions of the Credit Agreement are and shall remain in full force and effect and the Borrower shall continue to be bound by all of such terms and provisions.  The Amendment provided for herein is limited to the specific provisions of the Credit Agreement specified herein and shall not constitute an amendment of, or an indication of the Administrative Agent’s or the Lenders’ willingness to amend or waive, any other provisions of the Credit Agreement or the same sections for any other date or purpose.

 

7. Expenses.  The Borrowers agree to pay and reimburse the Administrative Agent for all its reasonable out-of-pocket costs and expenses incurred in connection with the negotiation, preparation, execution and delivery of this Amendment, and other documents prepared in connection herewith, and the transactions contemplated hereby, including, without limitation, reasonable fees and disbursements and other charges of counsel to the Administrative Agent and the charges of SyndTrak Online relating to the Amendment.

 

8. Choice of Law.  This Amendment and the rights and obligations of the parties hereto shall be governed by, and construed and interpreted in accordance with the law of the State of New York.

 

9. Counterparts.  This Amendment may be executed in any number of counterparts and by different parties and separate counterparts, each of which when so executed and delivered, shall be deemed an original, and all of which, when taken together, shall constitute one and the same instrument.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile or e-mail shall be effective as delivery of a manually executed counterpart of this Amendment.

 

  

  

  

EXHIBIT 10.3

 

10. Integration.  This Amendment, together with the other Loan Documents, incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

 

11. Severability.  In case any provision in this Amendment shall be invalid, illegal or unenforceable, such provision shall be severable from the remainder of this Amendment and the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

12. Loan Document.  This Amendment is a Loan Document.

 

13. Waiver of Jury Trial.  EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES TRIAL BY JURY IN ANY ACTION OR PROCEEDING WITH RESPECT TO THIS AMENDMENT AND ANY OTHER LOAN DOCUMENT.

 

[Signature Pages Follow]

 

  

  

  

EXHIBIT 10.3

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

 

BOARDWALK PIPELINES, LP,

as Borrower

By: Boardwalk Operating GP, LLC,

its general partner

By: Boardwalk Pipeline Partners, LP,

its managing member

By: Boardwalk GP, LP,

its general partner

By: Boardwalk GP, LLC,

its general partner

By:                  /s/ Jamie L. Buskill

Name: Jamie L. Buskill

Title: Senior Vice President, Chief Financial

                  Officer and Treasurer

 

TEXAS GAS TRANSMISSION, LLC,

as Borrower

By:                  /s/ Jamie L. Buskill

Name: Jamie L. Buskill

Title: Senior Vice President, Chief Financial

                  Officer and Treasurer

GULF SOUTH PIPELINE COMPANY, LP,

as Borrower

By: GS PIPELINE COMPANY, LLC,

its general partner

By:                  /s/ Jamie L. Buskill

Name: Jamie L. Buskill

Title: Senior Vice President, Chief Financial

                  Officer and Treasurer

BOARDWALK PIPELINE PARTNERS, LP

By: Boardwalk GP, LP,

its general partner

By: Boardwalk GP, LLC,

its general partner

By:                  /s/ Jamie L. Buskill

Name: Jamie L. Buskill

Title: Senior Vice President, Chief Financial

                  Officer and Treasurer

 

[Signature Page to Amendment No. 4]

  

  

  

EXHIBIT 10.3

WELLS FARGO BANK, N.A.,

                    as Administrative Agent and Lender

 

 

 

	
By:

	
/s/: Christina Faith

	  
	  	
Name:           Christina Faith

	  
	  	
Title:              Director

	  

 

 

 

 

 

[Signature Page to Amendment No. 4]

  

  

  

EXHIBIT 10.3

CITIBANK, N.A.,

as a Lender

By:        /s/ John Miller

Name:           John Miller

Title:           Attorney-in-fact

[Signature Page to Amendment No. 4]

  

  

  

EXHIBIT 10.3

JPMorgan Chase Bank, N.A.,

as a Lender

By:        /s/ Preeti Bhatnagar

Name:           Preeti Bhatnagar

Title:           Associate

[Signature Page to Amendment]

  

  

  

EXHIBIT 10.3

DNB NOR BANK ASA

as a Lender

By:        /s/ Kristin Ruse

Name:           Kristin Ruse

Title:           First Vice President

By:        /s/ Sanjiv Nayar

Name:           Sanjiv Nayar

Title:           Senior Vice President

[Signature Page to Amendment]

  

  

  

EXHIBIT 10.3

UNION BANK, N.A.,

as a Lender

By:        /s/ Hideyuki Okamoto

Name:           Hideyuki Okamoto

Title:           Vice President

[Signature Page to Amendment]

  

  

  

EXHIBIT 10.3

Royal Bank of Canada

as a Lender

By:        /s/ Jim Allred

Name:           Jim Allred

Title:           Authorized Signatory

[Signature Page to Amendment]

  

  

  

EXHIBIT 10.3

Mizuho Corporate Bank, Ltd.

as a Lender

By:        /s/ Raymond Ventura

Name:           Raymond Ventura

Title:           Deputy General Manager

[Signature Page to Amendment]

  

  

  

EXHIBIT 10.3

UBS AF, Stamford Branch,

as a Lender

By:        /s/ Irja R. Otsa

Name:           Irja R. Otsa

Title:           Associate Director

By:        /s/ Mary E. Evans

Name:           Mary E. Evans

Title:           Associate Director

[Signature Page to Amendment]

  

  

  

EXHIBIT 10.3

BANK OF AMERICA, N.A., (successor by merger to Merrill Lynch Bank USA)

as a Lender

By:        /s/ Christen A. Lacey

Name:           Christen A. Lacey

Title:           Senior Vice President

[Signature Page to Amendment]

  

  

  

EXHIBIT 10.3

MORGAN STANLEY BANK, N.A.,

as a Lender

By:        /s/ Ryan Vetsch

Name:           Ryan Vetsch

Title:           Authorized Signatory

[Signature Page to Amendment]

  

  

  

EXHIBIT 10.3

Credit Suisse AG, Cayman Islands Branch (fka, Credit Suisse, Cayman Islands Branch,

as a Lender

By:        /s/ Bill O’Daly

Name:           Bill O’Daly

Title:           Director

By:        /s/ Vipul Dhadda

Name:           Vipul Dhadda

Title:           Associate

[Signature Page to Amendment]

  

  

  

EXHIBIT 10.3

William Street Commitment Corporation,

as a Lender

By:        /s/ John Makrinos

Name:           John Makrinos

Title:           Authorized Signatory

[Signature Page to Amendment]

  

  

  

EXHIBIT 10.3

DEUTSCHE BANK AG NEW YORK BRANCH,

as a Lender

By:        /s/ Wolfgang Winter

Name:           Wolfgang Winter

Title:           Managing Director

By:        /s/ Stefan Freckmann

Name:           Stefan Freckmann

Title:           Vice President

[Signature Page to Amendment]

  

  

  

EXHIBIT 10.3

BANK HAPDALIM B.H.,

as a Lender

By:        /s/ Helen H. Gateson

Name:           Helen H. Gateson

Title:           Vice President

By:        /s/ Frederic S. Becker

Name:           Frederic S. Becker

Title:           Senior Vice President

[Signature Page to Amendment]

  

  

  

EXHIBIT 10.3

LEHMAN COMMERCIAL PAPER, INC.,

as a Lender

By:        /s/ Maria M. Lund

Name:           Maria M. Lund

Title:           Authorized Signatory

[Signature Page to Amendment]

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