Document:

Assignment and Assumption of Lease and First Amendment to Lease

  
 EXHIBIT 10.109

 CONFIDENTIAL TREATMENT REQUESTED 
 CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE 
 SECURITIES EXCHANGE COMMISSION.

  
 ASSIGNMENT AND ASSUMPTION OF LEASE 
  
 This ASSIGNMENT AND ASSUMPTION OF LEASE (this “Agreement”), dated
as of December 6, 2004, is entered into by and between ABOVENET COMMUNICATIONS, INC., a Delaware corporation (“Assignor”) and EQUINIX OPERATING CO., INC., a Delaware corporation (“Assignee”). 
  
 RECITALS 
  
 WHEREAS, Assignor is the current lessee under that certain Lease dated as of December 29, 1999 by and between BROKAW
INTERESTS (“Landlord”) and Assignor, a copy of which is attached hereto as Exhibit A and incorporated herein by this reference (the “Lease”), pursuant to which Assignor leases from Landlord certain real property described therein
and located in San Jose, California, which is commonly referred to as 1735 Lundy Avenue and is more particularly identified in the Lease (the “Premises”); 
  
 WHEREAS, Assignor desires to assign to Assignee, and Assignee desires to assume from Assignor, all of Assignor’s
rights, title, interests, privileges and obligations as lessee under the Lease on the terms and conditions set forth herein. 
  
 AGREEMENT 
  
 NOW, THEREFORE, in consideration of the mutual covenants and promises set forth herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 1. Terms. Capitalized terms used herein but not defined herein shall have the meanings specified in the Lease. 
  
 2. Assignment. Assignor does hereby assign, transfer and set over to Assignee effective from and after the Effective Date, as defined below, (i)
all of Assignor’s rights, title, interests, privileges and benefits as lessee in, to, and under the Lease, including, without limitation, the Security Deposit and, (ii) all of Assignor’s rights, title, interests, privileges and benefits in
and to the Premises; to have and to hold the same together with all rights, easements, privileges and appurtenances thereunto belonging or appertaining or held and enjoyed therewith, for and during the full unexpired term of the Lease. 

 
 3. Acceptance. Assignee hereby accepts the within assignment from
and after the Effective Date and, in addition, does hereby covenant and agree, for the benefit of Assignor and Landlord, to faithfully observe, assume, keep, perform and fulfill all of the terms, covenants, conditions and obligations required to be
observed, performed and fulfilled by the lessee under the Lease accruing from and after the Effective Date. 
  

 4. Delivery of Premises. Assignor and Assignee acknowledge and agree that possession of the
Premises shall only be delivered to Assignee on the Effective Date. In addition, Assignor and Assignee also acknowledge and agree that Assignee shall accept the Premises in an “AS IS” condition and, except as set forth in Section 9(a)(v)
below, Assignor has made no representations or warranties regarding the physical condition of the Premises or its suitability for Assignee’s use and that Assignee is relying on its own independent investigation of the Premises in entering into
this Agreement. Notwithstanding the foregoing, the Assignor states that to the best of its knowledge, without any independent investigation or special inquiry (i) it has received no written notice of violations of local, state or federal building
codes, statues, rules or regulations, including, without limitation, the Americans With Disabilities Act (“ADA”) or any applicable life safety requirements, with respect to the Tenant Improvements and other Alterations made by the Assignor
to the Premises, (ii) all mechanical and electrical systems for the Premises, including, without limitation, all power distribution systems, emergency generators and accompanying fuel delivery systems, HVAC systems (including airside, waterside,
controls and automation elements thereof), building alarm and security management systems, life safety and fire suppression systems, and lighting systems, are in ordinary operating condition, (iii) the electrical distribution system for the Premises
has a rated critical load capacity of [*] megawatts; Assignor’s use of such electrical distribution system has not reached such critical load capacity but such system has been adequate for Assignor’s uses at the Premises, and (iv)
it has received no written notice that any underground storage tanks located on the Premises leak or have leaked during the term of the Lease. Assignor shall have no liability in connection with the statements in the preceding sentence unless and to
the extent that such statements are determined by a court of competent jurisdiction to be intentionally fraudulent in making such statements. A list of Tenant Improvements, Alterations, trade fixtures, equipment and components existing in the
Premises is attached as Exhibit B. Assignor agrees that in the event of any casualty loss or condemnation to the Premises between the date hereof and the Effective Date that would give the Assignor the right to terminate the Lease with respect to
all or a part of the Premises that Assignor shall not exercise such right without the consent of Assignee, which consent shall not be unreasonably withheld, conditioned or delayed. Assignor also agrees that Assignor shall provide Assignee with early
access to the Premises for the purposes of inspecting the Premises relating to improvements or alterations that Assignee may desire to make on the Premises and related activities, subject to appropriate insurance and indemnities from Assignee.

  
 5. Conveyance of Personal Property and Related Items.
As a condition to the Effective Date, Assignor and Assignee must enter into a Bill of Sale (the “Bill of Sale”), to be attached hereto as Exhibit C and incorporated herein by this reference, pursuant to which Assignor will transfer to
Assignee the Tenant Improvements and Alterations and Tenants’ trade fixtures, equipment and components. Any sales taxes associated with the transfer of such personal property will be paid for as provided in the Bill of Sale. On the Effective
Date Assignor shall also assign to Assignee, pursuant to a mutually acceptable form assignment, and without recourse to Assignor, (i) any service contracts relating to the use or operation of the Premises that are approved by Assignee, if and to the
extent that the same are assignable without the consent of the other party thereto, (a list of all service contracts with respect to the Premises is 

	*	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

  

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 attached as Schedule 1) (ii) all warranties, guaranties, causes of action or similar intangible personal property rights,
if any, and to the extent that the same are assignable without the consent of the other party thereto, (a list of all such warranties, guaranties, causes of action or similar intangible personal property rights with respect to the Premises is
attached as Schedule 2) relating to the use or operation of the Premises, and shall deliver to Assignee all keys, operating manuals, books and records, copies of service or vendor contracts, utility bills, statements from Landlord and similar items
relating to the use or occupancy of the Premises. 
  
 6.
Consent/Final Agreement. The “Effective Date” for this Agreement shall be the later of (i) the date on which (a) the consent of Landlord required under the Lease is obtained and the Assignee and Landlord have entered into First
Amendment to Lease in the form attached hereto as Exhibit D and (b) the Assignor and the Assignee have agreed to terms on and executed the Bill of Sale to be attached hereto as Exhibit C; and (ii) March 1, 2005. The date on which the
foregoing conditions are satisfied is referred to as the “Effective Date” and upon the occurrence of such date, this Agreement shall be considered a final agreement (and not executory) and no further action on behalf of Assignor or
Assignee shall be required. If on or before December 31, 2004 (x) the Landlord shall not have consented to this Agreement and entered into the First Amendment to Lease or (y) Assignor and the Assignee have not agreed to terms on and executed the
Bill of Sale, this Agreement shall automatically terminate. 
  
 7.
Master Service Agreement. Assignor and Assignee acknowledge that Assignor shall have the right, pursuant to that certain Master Service Agreement dated as of March 31, 2003 between Assignor and Assignee (the “MSA”), as supplemented
by the Amendment to the Master Service Agreement dated of even date herewith, to use and occupy the portion of the Premises referred to as Collocation Room #5 for the purpose of maintaining and operating its IP infrastructure, fiber termination
panels and other equipment. Assignor and Assignee acknowledge that the Assignor’s right to use said Collocation Room #5 in connection with the foregoing is only pursuant to the MSA and is not a right under the Master Lease and shall be subject
to all of the provisions of the MSA, as it may be amended from time to time. In the event that Assignee defaults on its obligations under this Agreement, Assignor shall have the option to terminate the MSA with respect to Collocation Room #5, in
Assignor’s sole discretion. 
  
 8. Security Deposit.
Upon the Effective Date, Assignee shall pursuant to a separate agreement between Assignor and Assignee reimburse Assignor for the net present value of the Security Deposit posted by Assignor under the Lease and not previously returned to Assignor.

  
 9. Representations and Warranties. 
  
 (a) Assignor hereby represents and warrants to Assignee as
of the date hereof: 
  
 i. Assignor is a
corporation duly organized under the laws of Delaware and has full right, power and authority to enter into this Agreement and to carry out its obligations hereunder and all required corporate actions necessary to authorize Assignor to enter into
this Agreement and to carry out its obligations hereunder have been taken. 
  

 3 

 ii. Attached hereto as Exhibit A is a true and complete copy of the Lease, including all
amendments or modifications thereto, which constitute all agreements between Landlord and Assignor affecting the Premises. 
  
 iii. Assignor is the holder of the entire interest of the tenant under the Lease. 
  
 iv. Subject to obtaining the consent of Landlord, Assignor
has obtained all consents and approvals required to allow this Agreement to be valid and effective on its part, provided that this representation does not apply to service contracts, warranties, license agreements or other contracts or intangible
personal property rights referenced generally in Section 5 hereinabove where the consent of other parties may be required. 
  
 v. The Premises will be in substantially the same condition on the Effective Date as on the date hereof, normal wear and tear and damage
by insured casualty excepted, provided such proceeds are remitted to Assignee if the damage is not repaired. 
  
 vi. To the best of its knowledge there are no defaults by any party under the Lease and there are no events or circumstances which with
the passage of time and or the giving of notice would result in a default under the Lease, except that a dispute exists between Landlord and Assignor regarding Landlord’s obligation to return a portion of the Security Deposit. 
  
 vii. Assignor has paid and performed all obligations
required to be paid or performed by Assignor under the Lease through the Effective Date. 
  
 viii. The term of the Lease expires on May 31, 2020. 
  
 ix. Schedule 3 contains a listing of the additional charges paid by Assignor under the Lease for the most
recent two (2) fiscal years. 
  
 (b) Assignee
warrants and represents to Assignor as follows: 
  
 i. Assignee is a corporation duly organized under the laws of Delaware and has full right power and authority to enter into this Agreement and to carry out its obligations hereunder and all required corporate actions necessary to authorize
Assignee to enter into this Agreement and to carry out its obligations hereunder have been taken. Subject to obtaining the consent of Landlord, Assignee has obtained all consents and approvals required to allow this Agreement to be valid and
effective on its part, 
  
 ii. Assignor has
reviewed the terms of the Lease. 
  
 10. Indemnity.

  
 (a) Assignor hereby indemnifies and agrees to
defend, through attorneys reasonably acceptable to Assignee, and to hold harmless Assignee and its respective successors, assigns, legal and beneficial owners, officers, directors, agents and employees (“Assignee Parties”) from and against
any and all reasonable costs, damages (excluding 

  

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consequential damages), claims, expenses and liabilities which may at any time be asserted against or suffered by Assignee or the Assignee Parties as a
result of or on account of any material breach by Assignee of any representation, warranty or covenant contained in this Agreement, or which arise or have arisen, under the Lease as a result of acts, omissions or events that occur prior to the
Effective Date. Assignee hereby indemnifies and agrees to defend, through attorneys reasonably acceptable to Assignor, and to hold harmless Assignor and its respective successors, assigns, legal and beneficial owners, officers, directors, agents and
employees (“Assignor Parties”) from and against any and all reasonable costs, damages (excluding consequential damages), claims, expenses and liabilities which may at any time be asserted against or suffered by Assignor or the Assignor
Parties as a result of or on account of any material breach by Assignee of any representation, warranty or covenant contained in this Agreement, or which arise or have arisen, under the Lease as a result of acts, omissions or events that occur on or
after the Effective Date. 
  
 (b) Assignee shall
deliver to Assignor within three (3) business days after Assignee’s receipt thereof, or delivery thereof by Assignee, a copy of any default notice received from or delivered to Landlord under the Lease. Assignee agrees that in the event that
Assignee defaults in any of its obligations under the Lease and demand is made upon Assignor to perform or cure such obligations that Assignee shall upon written request from Assignor made at any time after the expiration of any applicable grace
period in connection with such default and prior to the cure thereof by Assignee: (i) reassign to Assignor, without recourse, representation or warranty, but free and clear of all liens and encumbrances, all of Assignee’s interest under the
Lease and deliver the Premises to Assignor in the same condition as exists on the Effective Date, subject to normal wear and tear and loss by casualty or condemnation, (ii) transfer to Assignor free and clear of all liens and encumbrances any
equipment or other personal property transferred to Assignee in connection with the assignment contemplated herein and assign to Assignor all of Assignee’s interest in any Tenant Improvements or Alterations, each with recourse, representation
or warranty and (iii) transfer to Assignor without recourse, representation or warranty all service contracts or intangible personal property related to the leasehold interest or the operation of the Premises as a collocation facility. In connection
with any such reassignment of the Lease to the Assignor, (y) Assignor shall have a right of reentry to the Premises to effectuate an orderly transition of the occupancy of the Premises, and (z) Assignor shall reimburse Assignee for any Security
Deposit, whether in the form of cash or a letter of credit, held by Landlord, less any amounts which Landlord actually applies on account of defaults by Assignee under the Lease and any actual damages suffered by Assignor on account of any such
defaults by Assignee. 
  
 11. Prorations. All expenses with
respect to the Premises shall be apportioned as of the Effective Date as follows, with Assignee being responsible for and getting the benefit of all such items during the entire day on which Effective Date occurs and thereafter and Assignor being
responsible for and getting the benefit of all such items for the period prior to the Effective Date. If any of the aforesaid prorations cannot be calculated accurately on the Effective Date, then they shall be calculated as soon after the Effective
Date as feasible. Either party owing the other party a sum of money based on such subsequent proration(s) shall promptly pay said sum to the other party, with interest thereon at the rate of ten percent (10%) per annum from the Effective Date to the
date of payment, if payment is not made within ten (10) days after delivery of a bill therefor. 
  

 5 

 12. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the
respective legal representatives, successors and assigns of the parties hereto. The words “Assignor” and “Assignee,” wherever used herein, shall include the persons and entities named herein or in the Lease and designated as such
and their respective heirs, legal representatives, successors or assigns. 
  
 13. Notices. All notices or requests provided for hereunder shall be in writing and shall be delivered by any of the following methods: (a) hand, (b) United States Registered or Certified Mail, return receipt
requested, postage prepaid, or (c) prepaid nationally recognized overnight carrier, and if to Assignor, to Abovenet Communications, Inc., 360 Hamilton Avenue, White Plains, New York 10601, Attention: President, with a copy to the same address
Attention and General Counsel; or if to Assignee, to Equinix Operating Co., Inc., 301 Velocity Way, 5th Floor,
Foster City, CA 94404, Attention: Director of Real Estate, Facsimile No. (650) 513 7909, with a copy to Equinix Operating Co., Inc., 301 Velocity Way, 5th Floor, Foster City, CA 94404, Attention: General Counsel, Facsimile No. (650) 513 7909. All
such notices shall be deemed received either when hand delivered if sent in the manner provided in (a) above, two (2) business days after being placed in the United States Mail if sent in the manner set forth in (b) above or upon delivery or
attempted delivery if sent in the manner provided in (c) above. The parties hereto shall have the right from time to time to change their respective address by at least five (5) days prior written notice to the other party. 
  
 14. Brokers. Each of Assignor and Assignee represents and warrants to
the other that it has dealt with no broker, agent or other person in connection with this Agreement other than CB Richard Ellis, Inc. and Liberty Greenfield LLP, whose commission will be paid by Assignor pursuant to a separate written agreement.
Each of Assignor and Assignee agrees to indemnify and hold the other harmless from and against any claims by any broker, agent or other person claiming a commission or other form of compensation by virtue of having dealt with the indemnifying party
with regard to this Agreement. The provisions of this Section 14 shall survive the expiration or earlier termination of this Agreement. 
  
 15. Reimbursement for Landlord’s Expenses. Assignor shall, in accordance with the terms of the Lease, reimburse Landlord for the expenses
incurred by Landlord in connection with the request for Landlord’s consent to this Agreement, including, but not limited to, reasonable attorneys’ fees and disbursements. 
  
 16. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the state of
California (without giving effect to its choice of law principles). 
  
 17. Confidentiality. Assignor and Assignee shall each maintain as confidential any and all non-public material obtained about the other and the transactions contemplated hereby, and shall not, except as required by law or
governmental regulation applicable to Assignor or Assignee, disclose such information to any third party. Notwithstanding the foregoing, Assignor and Assignee shall have the right to disclose such information to their respective lenders or their
employees and agents and such other persons whose assistance is required in carrying out the terms of this letter provided that all such persons are told that such information is confidential and agree (in writing for any third party 

  

 6 

 
consultants) to keep such information confidential. Assignor and Assignee shall each have the right to publicize the consummation of this Agreement (other
than the monetary terms) in whatever manner each deems appropriate; provided, however, that any press release or other public disclosure regarding the transactions contemplated herein, and the wording of same, must be approved in writing in advance
by both parties. 
  
 18. Counterparts. This Agreement may
be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement.

  
 19. Severability. In the event that any one or more of
the provisions contained in this Agreement shall be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision hereof, and this Agreement shall be construed as
if such invalid, illegal, or unenforceable provision had never been contained herein. 
  
 20. Attorneys’ Fees. If any action at law or in equity, including an action for declaratory relief, is brought to enforce or interpret the provisions of this Agreement, the prevailing party shall be
entitled to recover reasonable attorneys’ fees from the other party. 
  
 21. Amendments. This Agreement may not be altered, changed or amended, except by an instrument in writing executed by all parties hereto. 
  
 22. Entire Agreement. This Agreement constitutes the entire agreement and supersedes all prior agreements and
undertakings, both written and oral, among Assignor and Assignee with respect to the subject matter hereof and is not intended to confer upon any other person or entity any rights or remedies hereunder, except as otherwise expressly provided herein.

  
 [Signature page follows] 
  

 7 

 IN WITNESS WHEREOF, the parties hereto have executed and entered into this Agreement as of the date first
above written. 
  

			
	 Assignor:

	
	 ABOVENET COMMUNICATIONS, INC.
 a Delaware
corporation

		
	By:	 	 /s/ ROBERT SOKOTA

	 Name:
	 	 Robert Sokota

	 Title:
	 	 SVP & General Counsel

  

			
	 Assignee:

	
	 EQUINIX OPERATING CO., INC.
 a Delaware
corporation

		
	By:	 	 /s/ RENEE F. LANAM

	 Name:
	 	 Renee Lanam

	 Title:
	 	 Chief Financial Officer

  

 8 

 CONSENT 
  
 Landlord hereby consents to the foregoing Assignment and Assumption of Lease on the terms and conditions set forth above. The foregoing consent of Landlord shall not
release AboveNet Communications, Inc. from any of its obligations under the Lease. Without limiting the generality of the foregoing, the Landlord specifically agrees to the reassignment provisions contained in Section 10.(b) above. Landlord also
represents and warrants as follows to the Assignor and Assignee: 
  
 i. Attached hereto as Exhibit A is a true and complete copy of the Lease, including all amendments or modifications thereto, which constitute all agreements between Landlord and Assignor affecting the Premises. 
  
 ii. To the best of its knowledge, and except for the dispute described in
paragraph 9(a)(vi) above, there are no defaults by any party under the Lease and there are no events or circumstances which with the passage of time and or the giving of notice would result in a default under the Lease. Landlord acknowledges and
agrees that upon the occurrence of the Effective Date as described above and the execution of the accompanying First Amendment to Lease, the foregoing dispute shall be resolved in all respects. 
  
 iii. Assignor has paid and performed all obligations required to be paid or
performed by Assignor under the Lease through the Effective Date. 
  
 iv. The term of the Lease expires on May 31, 2020. 
  
 Landlord also
acknowledges and agrees that it is not entitled to receive any amounts pursuant to Section 17.B. of the Lease with respect to the assignment and assumption of Lease contemplated herein and the acquisition by Assignee of Assignee’s interest in
the Tenant Improvements, Alterations and other personal property in connection with this Agreement. 
  

			
	 Landlord:

	
	 BROKAW INTERESTS,
 a California limited
partnership

		
	By:	 	 /s/ JOHN M. SOBRATO

	 Name:
	 	 John M. Sobrato

	 Title:
	 	 General Partner

  

 9 

  
 EXHIBIT A

  
 Lease Between 
 Brokaw Interests and AboveNet Communications, Inc. 
  

							
	Section

	  	Page #

	1.	 	PARTIES	  	1
	2.	 	PREMISES	  	1
	3.	 	USE	  	1
	 	 	A.	  	Permitted Uses	  	1
	 	 	B.	  	Uses Prohibited	  	1
	 	 	C.	  	Advertisements and Signs	  	1
	 	 	D.	  	Covenants, Conditions and Restrictions	  	2
	4.	 	TERM AND RENTAL	  	2
	 	 	A.	  	Base Monthly Rent	  	2
	 	 	B.	  	Late Charges	  	3
	 	 	C.	  	Security Deposit	  	3
	5.	 	CONSTRUCTION	  	4
	 	 	A.	  	Landlord’s Work	  	4
	 	 	B.	  	Tenant Construction	  	5
	6.	 	ACCEPTANCE OF POSSESSION AND COVENANTS TO SURRENDER	  	5
	 	 	A.	  	Delivery and Acceptance	  	5
	 	 	B.	  	Late Delivery	  	6
	 	 	C.	  	Condition Upon Surrender	  	6
	 	 	D.	  	Failure to Surrender	  	7
	7.	 	ALTERATIONS AND ADDITIONS	  	8
	 	 	A.	  	Tenant’s Alterations	  	8
	 	 	B.	  	Free From Liens	  	8
	 	 	C.	  	Compliance With Governmental Regulations	  	8
	8.	 	MAINTENANCE OF PREMISES	  	9
	 	 	A.	  	Landlord’s Obligations	  	9
	 	 	B.	  	Tenant’s Obligations	  	9
	 	 	C.	  	Waiver of Liability	  	9
	9.	 	HAZARD INSURANCE	  	10
	 	 	A.	  	Tenant’s Use	  	10
	 	 	B.	  	Landlord’s Insurance	  	10
	 	 	C.	  	Tenant’s Insurance	  	10
	 	 	D.	  	Waiver	  	11
	10.	 	TAXES	  	11
	11.	 	UTILITIES	  	11
	12.	 	TOXIC WASTE AND ENVIRONMENTAL DAMAGE	  	11
	 	 	A.	  	Tenant’s Responsibility	  	11
	 	 	B.	  	Tenant’s Indemnity Regarding Hazardous Materials	  	12
	 	 	C.	  	Actual Release by Tenant	  	13
	 	 	D.	  	Environmental Monitoring	  	14

  

 Page i 

							
	13.	 	TENANT’S DEFAULT	  	14
	 	 	A.	  	Remedies	  	14
	 	 	B.	  	Right to Re-enter	  	15
	 	 	C.	  	Abandonment	  	15
	 	 	D.	  	No Termination	  	16
	 	 	E.	  	Non-Waiver	  	16
	 	 	F.	  	Performance by Landlord	  	16
	 	 	G.	  	Habitual Default	  	17
	14.	 	LANDLORD’S LIABILITY	  	17
	 	 	A.	  	Limitation on Landlord’s Liability	  	17
	 	 	B.	  	Limitation on Tenant’s Recourse	  	17
	 	 	C.	  	Indemnification of Landlord	  	17
	15.	 	DESTRUCTION OF PREMISES	  	18
	 	 	A.	  	Landlord’s Obligation to Restore	  	18
	 	 	B.	  	Limitations on Landlord’s Restoration Obligation	  	18
	16.	 	CONDEMNATION	  	19
	17.	 	ASSIGNMENT OR SUBLEASE	  	19
	 	 	A.	  	Consent by Landlord	  	19
	 	 	B.	  	Assignment or Subletting Consideration	  	20
	 	 	C.	  	No Release	  	20
	 	 	D.	  	Reorganization of Tenant	  	21
	 	 	E.	  	Permitted Transfers	  	21
	 	 	F.	  	Effect of Default	  	22
	 	 	G.	  	Conveyance by Landlord	  	22
	 	 	H.	  	Successors and Assigns	  	22
	18.	 	OPTION TO EXTEND THE LEASE TERM	  	22
	 	 	A.	  	Grant and Exercise of Option	  	22
	 	 	B.	  	Determination of Fair Market Rental	  	23
	 	 	C.	  	Resolution of a Disagreement over the Fair Market Rental	  	24
	 	 	D.	  	Personal to Tenant	  	24
	19.	 	GENERAL PROVISIONS	  	24
	 	 	A.	  	Attorney’s Fees	  	24
	 	 	B.	  	Authority of Parties	  	24
	 	 	C.	  	Brokers	  	25
	 	 	D.	  	Choice of Law	  	25
	 	 	E.	  	Dispute Resolution	  	25
	 	 	F.	  	Entire Agreement	  	26
	 	 	G.	  	Entry by Landlord	  	26
	 	 	H.	  	Estoppel Certificates	  	27
	 	 	I.	  	Exhibits	  	27
	 	 	J.	  	Interest	  	27
	 	 	K.	  	This paragraph intentionally left blank	  	27
	 	 	L.	  	No Presumption Against Drafter	  	27
	 	 	M.	  	Notices	  	28
	 	 	N.	  	Property Management	  	28
	 	 	O.	  	Rent	  	28
	 	 	P.	  	Representations	  	28
	 	 	Q.	  	Rights and Remedies	  	28

  

 Page ii 

							
	 	 	R.	  	Severability	  	28
	 	 	S.	  	Submission of Lease	  	28
	 	 	T.	  	Subordination	  	28
	 	 	U.	  	Survival of Indemnities	  	29
	 	 	V.	  	Time	  	29
	 	 	W.	  	Transportation Demand Management Programs	  	29
	 	 	X.	  	Waiver of Right to Jury Trial	  	30
	20.	 	LEASE GUARANTY	  	30

  
 EXHIBIT A - Premises 
 EXHIBIT B - Tenant Improvement Plans and Specifications 
 EXHIBIT C - Komag Termination Agreement 
 EXHIBIT D - Required Condition 
 EXHIBIT E - Guaranty of Lease 
  

 Page iii 

 1. PARTIES: THIS LEASE is entered into on this 29th day of December, 1999 (“Effective Date”), between Brokaw Interests, a California Limited Partnership, whose address is 10600 North De Anza
Boulevard, Suite 200, Cupertino, CA 95014 and AboveNet Communications, Inc., a Delaware Corporation, whose address is 50 West San Fernando Street, Suite 1010, San Jose, California, 95113, hereinafter called respectively Landlord and Tenant.

  
 2. PREMISES: Landlord hereby leases to Tenant, and Tenant hires from
Landlord those certain Premises with the appurtenances, situated in the City of San Jose, County of Santa Clara, State of California, commonly known and designated as 1735 Lundy Avenue and consisting of 103,420 rentable square feet
(“Building”) as shown on Exhibit “A” and all improvements located therein including but not limited to buildings, parking areas, landscaping, loading docks, sidewalks, service areas and other facilities. Unless expressly
provided otherwise, the term Premises as used herein shall include the Tenant Improvements (defined in Section 5.B and subject to Tenant’s ownership thereof) constructed by Tenant pursuant to Section 5.B. 
  
 3. USE: 
  
 A. Permitted Uses: Tenant shall use the Premises only for the following purposes and shall not change the use of the
Premises without the prior written consent of Landlord: Internet colocation and connection, telecommunications, data center and office uses, together with related service and support functions. All commercial trucks and delivery vehicles shall be
parked at the rear of the Building, and permitted to remain on the Premises only so long as is reasonably necessary to complete the loading and unloading. Landlord makes no representation or warranty that any specific use of the Premises desired by
Tenant is permitted pursuant to any Laws. 
  
 B. Uses
Prohibited: Tenant shall not commit or suffer to be committed on the Premises any waste, nuisance, or other act or thing which may disturb the quiet enjoyment of any other tenant in or around the Premises, nor allow any sale by auction or any
other use of the Premises for an unlawful purpose. Tenant shall not: (i) damage or overload the electrical, mechanical or plumbing systems of the Premises, (ii) attach, hang or suspend anything from the ceiling, walls or columns of the building or
set any load on the floor in excess of the load limits for which such items are designed, except as expressly set forth in the Tenant Improvement Plans and Specifications and unless the building is modified by Tenant to support such loads, or (iii)
generate dust, fumes or waste products which create a fire or health hazard or damage the Premises, including without limitation the soils or ground water in or around the Premises. Except as expressly set forth in the Tenant Improvement Plans and
Specifications, no materials, supplies, equipment, finished products or semi-finished products, raw materials or articles of any nature, or any waste materials, refuse, scrap or debris, shall be stored upon or permitted to remain on any portion of
the Premises outside of the Building without Landlord’s prior approval, which approval may be withheld in its sole discretion. 
  
 C. Advertisements and Signs: Tenant will not place or permit to be placed, in, upon or about the Premises any signs not approved by the city and
other governing authority having jurisdiction. Tenant will not place or permit to be placed upon the Premises any signs, advertisements or notices without the written consent of Landlord as to type, size, design, lettering, 

  

 Page 1 

 
coloring and location, which consent will not be unreasonably withheld. Any sign placed on the Premises shall be removed by Tenant, at its sole cost, prior
to the Expiration Date or promptly following the earlier termination of the Lease, and Tenant shall repair, at its sole cost, any damage or injury to the Premises caused thereby, and if not so removed, then Landlord may have same so removed at
Tenant’s expense. 
  
 D. Covenants, Conditions and
Restrictions: This Lease is subject to the effect of (i) any covenants, conditions, restrictions, easements, mortgages or deeds of trust, ground leases, rights of way of record and any other matters or documents of record; and (ii) any zoning
laws of the city, county and state where the Building is situated (collectively referred to herein as “Restrictions”) and Tenant will conform to and will not violate the terms of any such Restrictions. 
  
 4. TERM AND RENTAL: 
  
 A. Base Monthly Rent: The term (“Lease Term”) shall be for two hundred forty five (245) months, commencing
on the date Landlord delivers possession of the Premises to Tenant, estimated to occur on January 1, 2000 (the “Commencement Date”), subject to adjustment pursuant to Section 6.A below, and ending 245 months thereafter (“Expiration
Date”). Notwithstanding the Parties agreement that the Lease Term begins on the Commencement Date, this Lease and all of the obligations of Landlord and Tenant shall be binding and in full force and effect from and after the Effective Date. In
addition to all other sums payable by Tenant under this Lease, Tenant shall pay base monthly rent (“Base Monthly Rent”) for the Premises pursuant to the following schedule: 
  

			
	 Months 01 - 05:
	  	[*]
	 Months 06 - 17:
	  	[*]
	 Months 18 - 29:
	  	[*]
	 Months 30 - 41:
	  	[*]
	 Months 42 - 53:
	  	[*]
	 Months 54 - 65:
	  	[*]
	 Months 66 - 77:
	  	[*]
	 Months 78 - 89: 
	  	[*]
	 Months 90 - 101:
	  	[*]
	 Months 102 - 113:
	  	[*]
	 Months 114 - 125:
	  	[*]
	 Months 126 - 137:
	  	[*]
	 Months 138 - 149:
	  	[*]
	 Months 150 - 161:
	  	[*]
	 Months 162 - 173:
	  	[*]
	 Months 174 - 185:
	  	[*]
	 Months 186 - 197:
	  	[*]
	 Months 198 - 209:
	  	[*]
	 Months 210 - 221:
	  	[*]
	 Months 222 - 233:
	  	[*]
	 Months 234 - 245:
	  	[*]

  
 Base Monthly Rent shall be due in
advance on or before the first day of each calendar month during the Lease Term, commencing on the first day of the 6th month following the Commencement Date. All sums payable by Tenant under this Lease shall be paid to Landlord in lawful money of
the United States of America, without offset or deduction and without prior notice or demand, at the address specified in Section 1 of this Lease or at such place or places as may be designated in writing by Landlord during the Lease Term. Base
Monthly Rent for any period less than a calendar month shall be a pro rata portion of the monthly installment. Concurrently with Tenant’s execution of this Lease, Tenant shall pay to Landlord the sum of [*] as prepaid rent for the first
month of the Lease for which Base Monthly Rent is due. 

	*	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

  

 Page 2 

 B. Late Charges: Tenant hereby acknowledges that late payment by Tenant to Landlord of Base
Monthly Rent and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which is extremely difficult to ascertain. Such costs include but are not limited to: administrative, processing,
accounting, and late charges which may be imposed on Landlord by the terms of any contract, revolving credit, mortgage, or trust deed covering the Premises. Accordingly, if any installment of Base Monthly Rent or other sum due from Tenant shall not
be received by Landlord or its designee within five (5) business days after the rent is due, Tenant shall pay to Landlord a late charge equal to five (5%) percent of such overdue amount, which late charge shall be due and payable on the same date
that the overdue amount was due. The parties agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant, excluding interest and attorney’s fees and costs. If any
rent or other sum due from Tenant remains delinquent for a period in excess of thirty (30) days then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not paid when due at the Agreed Interest Rate specified
in Section 19.J following the date such amount became due until paid. Acceptance by Landlord of such late charge shall not constitute a waiver of Tenant’s default with respect to such overdue amount nor prevent Landlord from exercising any of
the other rights and remedies granted hereunder, in the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of Base Monthly Rent, then the Base Monthly Rent shall automatically become due
and payable quarterly in advance, rather than monthly, notwithstanding any provision of this Lease to the contrary. 
  
 C. Security Deposit: Concurrently with Tenant’s execution of this Lease, Tenant has deposited with Landlord the sum of One Million Four
Hundred Twenty Seven Thousand and No/100 Dollars ($1,427,000.00) (“Security Deposit”). Landlord shall not be deemed a trustee of the Security Deposit, may use the Security Deposit in business, and shall not be required to segregate it from
its general accounts. Tenant shall not be entitled to interest on the Security Deposit. If Tenant defaults with respect to any provisions of the Lease, including but not limited to the provisions relating to payment of Base Monthly Rent or other
charges, Landlord may, to the extent reasonably necessary to remedy Tenant’s default, use any or all of the Security Deposit towards payment of the following: (i) Base Monthly Rent or other charges in default; (ii) any other amount which
Landlord may spend or become obligated to spend by reason of Tenant’s default including, but not limited to Tenant’s failure to restore or clean the Premises following vacation thereof. If any portion of the Security Deposit is so used or
applied, Tenant shall, within ten (10) days after written demand from Landlord, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its full original amount, and shall pay to Landlord such other sums as necessary to
reimburse Landlord for any sums paid by Landlord. Tenant may not assign or encumber the Security Deposit without the consent of Landlord. Any attempt to do so shall be void and shall not be binding on Landlord. The Security Deposit shall be returned
to Tenant within thirty (30) days after the Expiration Date and surrender of the Premises to Landlord, less any amount deducted in accordance with this Section, together with Landlord’s written notice 

  

 Page 3 

 
itemizing the amounts and purposes for such deduction. In the event of termination of Landlord’s interest in this Lease, Landlord may deliver or credit
the Security Deposit to Landlord’s successor in interest in the Premises and thereupon be relieved of further responsibility with respect to the Security Deposit to the extent that Landlord’s successor assumes all obligations under this
Lease. 
  
 Landlord agrees that in lieu of a cash Security Deposit, Tenant may
deposit a letter of credit in a form reasonably acceptable to Landlord. Landlord shall be entitled to draw against the letter of credit at any time provided only that Landlord certifies to the issuer of the letter of credit that Tenant is in default
under the Lease. Tenant shall keep the letter of credit in effect during the entire Lease Term, as the same may be extended, plus a period of four (4) weeks after expiration of the Lease Term. At least thirty (30) days prior to expiration of any
letter of credit, the term thereof shall be renewed or extended for a period of at least one (1) year. Tenant’s failure to so renew or extend the letter of credit shall be a material default of this Lease by Tenant. In the event Landlord draws
against the letter of credit, Tenant shall replenish the existing letter of credit or cause a new letter of credit to be issued such that the aggregate amount of letters of credit available to Landlord at all times during the Lease Term is the
amount of the Security Deposit originally required. 
  
 Notwithstanding the
foregoing, Tenant may reduce the amount of the Security Deposit upon the following conditions: (i) after the 36th month of the Lease Term, the amount of the Security Deposit may be reduced by $713,500.00 provided Tenant has not been in monetary
default under the Lease during the previous 36 months; (ii) after the 72nd month of the Lease Term, the amount of the Security Deposit may be reduced by $583,500.00 provided Tenant has not been in monetary default under the Lease during the previous
36 months; and (iii) provided Tenant has not been in monetary default under the Lease during the Lease Term, the amount of the Security Deposit shall be reduced to $130,000.00 after Tenant’s parent company, Metromedia Fiber Network, Inc., has
posted a net profit (before interest, tax, depreciation, and amortization expenses) for four (4) consecutive quarters. 
  
 5. CONSTRUCTION: 
  
 A. Landlord’s Work: Within the first two (2) months of the Lease Commencement Date, Landlord shall: (i) ensure that the Building structure and
Building exterior is in compliance with all applicable city, state, and government zoning codes, laws and regulations (excluding ADA, which is specifically addressed below); and (ii) ensure that the Premises are properly closed with respect to
Hazardous Materials associated with the Premises’ former use, and deliver to Tenant all related documentation in Landlord’s possession. Landlord agrees to reimburse Tenant for the cost of: (i) putting the existing Building systems
(excluding Building systems installed as part of the Tenant Improvements, or Building systems Tenant intends to remove) in good operating condition and repair including the plumbing, HVAC, and electrical; (ii) any required ADA modifications to the
Premises, excluding ADA requirements for new Tenant Improvements and improvements Tenant intends to remove. Landlord also agrees to reimburse Tenant the sum of Fifty Two Thousand and No/100 Dollars ($52,000.00) towards Tenant’s cost of
installing a new roof membrane on the Building within the first year of the Lease Term. 
  

 Page 4 

 B. Tenant Construction: Within the first year of the Lease Term, Tenant agrees to remove the
existing disc media fabrication improvements at the Premises and install new improvements (“Tenant Improvements”) consistent with Tenant’s use of the Premises as a data center. Tenant shall cause all improvements to the Premises not
included in Landlord’s Work to be constructed at Tenant’s expense by a general contractor selected by Tenant (“General Contractor”) in accordance with construction plans and outline specifications prepared at Tenant’s
expense by an architect selected by Tenant (“Tenant’s Architect”), to be attached to this Lease as Exhibit “B” (“Tenant Improvement Plans and Specifications”). The Tenant Improvements Plans and
Specifications shall include any information required by the relevant agencies regarding Tenant’s use of Hazardous Materials, if applicable. Prior to commencing construction of the Tenant Improvements, Tenant shall: (i) obtain all required
governmental approvals and permits; and (ii) provide Landlord seven (7) days’ prior notice so that Landlord may post a notice of nonresponsibility. Landlord acknowledges that the Tenant improvements will include typical improvements which
support combined office and data-telecommunications center uses, which may consist of the following: (i) raised floors; (ii) floor-to-ceiling equipment racks; (iii) additional power panels, power converters, and related equipment and fixtures to
provide within the Premises additional electric power to support telecommunication equipment; (iv) a UPS system, including back-up, diesel powered generators; (v) fiber conduit, cabling, and risers to support servers, routers, and other equipment;
(vi) antenna in the antenna farm; (vii) specialized HVAC systems to support temperature requirements for data-telecommunications areas, including dry cooler units; and (viii) wall partitions to create separate office areas. As part of the Tenant
Improvements, Tenant shall have the right, at its sole cost, to install a trench and conduit from the street to the carrier rooms to be located within the Premises, provided that plans and specifications and the contractor to be retained for such
work are subject to Landlord’s reasonable approval. Any Tenant Improvement work shall be conducted at Tenant’s risk and in accordance with all Laws. Tenant shall indemnify and hold Landlord harmless from and against all costs, damages,
claims, liabilities and expenses (including attorneys’ fees) suffered by or claimed against Landlord, directly or indirectly, based on, arising out of or resulting from Tenant’s construction of the Tenant Improvements. All costs associated
with Tenant Improvements shall be paid by Tenant. Immediately upon completion of the Tenant Improvements, Tenant agrees to provide Landlord a complete set of half-size (15” x 21”) vellum as-built drawings for the Tenant Improvements and a
certificate of occupancy for the Premises. The Tenant Improvements shall be the property of Tenant until the expiration of the Lease Term or any earlier termination of the Lease, at which time the Tenant Improvements shall become the property of
Landlord and shall remain upon and be surrendered with the Premises, and title thereto shall automatically vest in Landlord without any payment therefor. 
  
 6. ACCEPTANCE OF POSSESSION AND COVENANTS TO SURRENDER: 
  
 A. Delivery and Acceptance: Landlord shall deliver and Tenant shall accept possession of the Premises on the Commencement Date provided, however,
that Landlord shall retain a right of entry to complete Landlord’s Work provided Landlord does not interfere with 

  

 Page 5 

 
construction of Tenant Improvements. Tenant acknowledges that it has had an opportunity to conduct, and has conducted, such inspections of the Premises as it
deems necessary to evaluate its condition. Except as otherwise specifically provided herein, Tenant agrees to accept possession of the Premises in its then existing condition, subject to all Restrictions and without representation or warranty by
Landlord except as provided in Section 5 above. 
  
 Landlord and Tenant hereby
acknowledge that: (i) Komag Corporation (“Komag”) currently occupies the Premises; and (ii) Landlord and Komag have executed a lease termination agreement, attached as Exhibit “D”, that terminates Komag’s lease on
December 31, 1999. Landlord, at its sole cost and expense, shall use its reasonable best efforts to assure that Komag vacates and surrenders the Premises, which efforts shall include, without limitation, the prompt initiation of an unlawful detainer
proceeding if necessary. Landlord shall be obligated to deliver the Premises to Tenant in such condition (the “Required Condition”) that it is free of possession by Komag with equipment and fixtures of Komag removed or left in place
pursuant to Exhibit “E” attached hereto. 
  
 B. Late Delivery: In the event Landlord does not deliver the Premises to Tenant in the Required Condition by January 1, 2000, then the Commencement Date shall not occur until such delivery is made. Further, in the event Landlord does
not deliver the Premises to Tenant in the Required Condition by February 1, 2000, then in addition to such delayed Commencement Date, the Base Monthly Rent which is otherwise payable commencing on the 6th month thereafter shall be abated by a per
diem (calculated on a 30-day month using the Base Monthly Rent rate applicable in the 6th month of the Lease Term) amount for each day in the period commencing on February 1, 2000 and ending on the date the Premises are delivered to Tenant in the
Required Condition. The rent abatement for a delay in the Commencement Date shall be the sole and exclusive remedy of Tenant with respect to the failure by Landlord to deliver the Premises to Tenant in the Required Condition. 
  
 Notwithstanding anything to the contrary contained in this Lease, in the event: (i) Komag has
not obtained a closure permit (or other evidence from applicable governmental agencies) by January 15, 2000 affirming that Komag has removed all Hazardous Materials associated with its use at the Premises; and (ii) Base Monthly Rent is not already
being abated pursuant to the preceding paragraph, then this Lease shall not be void or voidable nor shall Landlord be liable for any loss or damage resulting therefrom; however, Landlord shall pay to Tenant an amount equal to all Holdover Rent due
from Komag to Landlord pursuant to paragraph 5 of the attached Exhibit “D”. 
  
 C. Condition Upon Surrender: Tenant further agrees on the Expiration Date or on the sooner termination of this Lease, to surrender the Premises to Landlord in good condition and repair, normal wear and tear
excepted. In this regard, “normal wear and tear” shall be construed to mean wear and tear caused to the Premises by the natural aging process which occurs in spite of prudent application of the best standards for maintenance, repair
replacement, and janitorial practices, and does not include items of neglected or deferred maintenance. In any event, Tenant shall cause the following to be done prior to the Expiration Date or sooner termination of this Lease: (i) all interior
walls shall be repaired, patched and otherwise made paint-ready, (ii) all tiled floors shall be cleaned and waxed, (iii) all 

  

 Page 6 

 
carpets shall be cleaned and shampooed, (iv) all broken, marred, stained or non-conforming acoustical ceiling tiles shall be replaced, (v) all cabling placed
above the ceiling by Tenant or Tenant’s contractors shall be removed, (vi) all windows shall be washed; (vii) the HVAC system shall be serviced by a reputable and licensed service firm and left in “good operating condition and repair”
as so certified by such firm, (viii) the plumbing and electrical systems and lighting shall be placed in good order and repair (including replacement of any burned out, discolored or broken light bulbs, ballasts, or lenses. On or before the
Expiration Date or sooner termination of this Lease, Tenant shall remove all its personal property and trade fixtures from the Premises. All property and fixtures not so removed shall be deemed as abandoned by Tenant. At the expiration of the Lease
Term, Landlord shall not have the right to require that Tenant remove from the Premises any of the Tenant Improvements (other than Tenant’s equipment, fixtures and components) or any Alterations made with Landlord’s consent unless
Landlord, at the time of granting such consent, indicates that the subject Alteration must be removed upon the expiration of the Lease Term. With respect to Permitted Alterations as defined in Section 7.A below, Tenant shall ascertain from Landlord
within ninety (90) days before the Expiration Date whether Landlord desires to have such Permitted Alterations removed. Tenant shall repair any damage to the Building which results from Tenant’s removal of any Permitted Alteration and any
improvements and/or Tenant’s equipment, fixtures, and components. Such repair and restoration shall include causing the Premises to be brought into compliance with all applicable building codes and laws in effect at the time of the removal to
the extent such compliance is necessitated by the repair and restoration work. 
  
 D. Failure to Surrender: If the Premises are not surrendered at the Expiration Date or sooner termination of this Lease in the condition required by this Section 6, Tenant shall be deemed in a holdover tenancy
pursuant to this Section 6.C and Tenant shall indemnify, defend, and hold Landlord harmless against loss or liability resulting from delay by Tenant in so surrendering the Premises including, without limitation, any claims made by any succeeding
tenant founded on such delay and costs incurred by Landlord in returning the Premises to the required condition, plus interest at the Agreed Interest Rate. Any holding over after the termination or Expiration Date with Landlord’s express
written consent, shall be construed as month-to-month tenancy, terminable on thirty (30) days written notice from either party, and Tenant shall pay as Base Monthly Rent to Landlord a rate equal to one hundred twenty five percent (125%) of the Base
Monthly Rent due in the month preceding the termination or Expiration Date, plus all other amounts payable by Tenant under this Lease. Any holding over shall otherwise be on the terms and conditions herein specified, except those provisions relating
to the Lease Term and any options to extend or renew, which provisions shall be of no further force and effect following the expiration of the applicable exercise period. If Tenant remains in possession of the Premises after the Expiration Date or
sooner termination of this Lease without Landlord’s consent, Tenant’s continued possession shall be on the basis of a tenancy at sufferance and Tenant shall pay as rent during the holdover period an amount equal to one hundred fifty
percent (150%) of the Base Monthly Rent due in the month preceding the termination or Expiration Date, plus all other amounts payable by Tenant under this Lease. This provision shall survive the termination or expiration of the Lease. 
  

 Page 7 

 7. ALTERATIONS AND ADDITIONS: 
  
 A. Tenant’s Alterations: Tenant shall not make, or suffer to be made, any alteration or addition to the Premises
(“Alterations”), or any part thereof, without obtaining Landlord’s prior written consent and delivering to Landlord the proposed architectural and structural plans for all such Alterations at least fifteen (15) days prior to the start
of construction. If such Alterations affect the structure of the Building, Tenant additionally agrees to reimburse Landlord its reasonable out-of-pocket costs incurred in reviewing Tenant’s plans. After obtaining Landlord’s consent, which
consent shall state whether or not Landlord will require Tenant to remove such Alteration at the expiration or earlier termination of this Lease, Tenant shall not proceed to make such Alterations until Tenant has obtained all required governmental
approvals and permits. Tenant agrees to provide Landlord: (i) written notice of the anticipated and actual start-date of the work, (ii) a complete set of half-size (15” X 21”) vellum as-built drawings, and (iii) a certificate of occupancy
for the work upon completion of the Alterations. All Alterations shall be constructed in compliance with all applicable building codes and laws including, without limitation, the Americans with Disabilities Act of 1990 as amended from time to time.
Upon the Expiration Date, all Alterations, except movable furniture and trade fixtures, shall become a part of the realty and belong to Landlord but shall nevertheless be subject to removal by Tenant as provided in Section 6 above. Alterations which
are not deemed as trade fixtures include heating, lighting, electrical systems, air conditioning, walls, carpeting, or any other installation which has become an integral part of the Premises. All Alterations shall be maintained, replaced or
repaired by Tenant at its sole cost and expense. Notwithstanding the foregoing, Tenant shall be entitled, without obtaining Landlord’s consent, to make Alterations which do not affect the structure of the Building and which do not cost more
than One Hundred Thousand Dollars ($100,000.00) per Alteration (“Permitted Alteration”); provided, however, that Tenant shall still be required to comply with all other provisions of this paragraph, and such Permitted Alterations are
subject to removal by Tenant at Landlord’s election pursuant to Section 6.C above at the expiration or earlier termination of the Lease. Tenant shall not be required to seek Landlord’s consent with respect to any replacements,
modifications, retrofits, or upgrades of Tenant’s equipment, fixtures, and components, provided that any work or installation with respect to the foregoing shall otherwise be carried out in compliance with this Lease. 
  
 B. Free From Liens: Tenant shall keep the Premises free from all liens
arising out of work performed, materials furnished, or obligations incurred by Tenant or claimed to have been performed for Tenant. In the event Tenant fails to discharge any such lien within ten (10) days after receiving notice of the filing,
Landlord shall be entitled to discharge the lien at Tenant’s expense and all resulting costs incurred by Landlord, including attorney’s fees shall be due from Tenant as additional rent. 
  
 C. Compliance With Governmental Regulations: The term Laws or
Governmental Regulations shall include all federal, state, county, city or governmental agency laws, statutes, ordinances, standards, rules, requirements, or orders now in force or hereafter enacted, promulgated, or issued. The term also includes
government measures regulating or enforcing public access, traffic mitigation, occupational, health, or safety standards for 

  

 Page 8 

 
employers, employees, landlords, or tenants. Tenant, at Tenant’s sole expense shall make all repairs, replacements, alterations, or improvements needed
to comply with all Governmental Regulations. The judgment of any court of competent jurisdiction or the admission of Tenant in any action or proceeding against Tenant (whether Landlord be a party thereto or not) that Tenant has violated any such
law, regulation or other requirement in its use of the Premises shall be conclusive of that fact as between Landlord and Tenant. 
  
 8. MAINTENANCE OF PREMISES: 
  
 A. Landlord’s Obligations: Landlord at its sole cost and expense, shall maintain in good condition, order, and repair, and replace as and when
necessary, the foundation, exterior load bearing walls and roof structure of the Building. 
  
 B. Tenant’s Obligations: Tenant shall clean, maintain, repair and replace when necessary the Premises and every part thereof through regular inspections and servicing, including but not limited to: (i) all
plumbing and sewage facilities, (ii) all heating ventilating and air conditioning facilities and equipment, (iii) all fixtures, interior walls floors, carpets and ceilings, (iv) all windows, door entrances, plate glass and glazing systems including
caulking, and skylights, (v) all electrical facilities and equipment, (vi) all automatic fire extinguisher equipment, (vii) the parking lot and all underground utility facilities servicing the Premises, (viii) the roof membrane system, and (ix) all
waterscape, landscaping and shrubbery. All wall surfaces and floor tile are to be maintained in an as good a condition as when Tenant took possession free of holes, gouges, or defacements. With respect to items (ii) and (viii) above, Tenant shall
provide Landlord a copy of a service contract between Tenant and a licensed service contractor providing for periodic maintenance of all such systems or equipment in conformance with the manufacturer’s recommendations. Tenant shall provide
Landlord a copy of such preventive maintenance contracts and paid invoices for the recommended work if requested by Landlord. If as a part of Tenant’s fulfillment of its maintenance obligations during the last five (5) years of the Lease Term,
a roof replacement to the Premises is paid for by Tenant, Landlord shall reimburse Tenant for the cost of the replacement less the sum of (i) Fifty Thousand Dollars ($50,000.00) plus (ii) that portion of the cost over $50,000.00 equal to the product
of such cost multiplied by a fraction, the numerator of which is the number of years remaining in the Lease Term, the denominator of which is the useful life (in years) of the roof replacement. 
  
 C. Waiver of Liability: Failure by Landlord to perform any defined
services, or any cessation thereof, when such failure is caused by accident, breakage, repairs, strikes, lockout or other labor disturbances or labor disputes of any character or by any other cause, similar or dissimilar, shall not render Landlord
liable to Tenant in any respect, including damages to either person or property, nor be construed as an eviction of Tenant, nor cause an abatement of rent, nor relieve Tenant from fulfillment of any covenant or agreement hereof. Should any equipment
or machinery utilized in supplying the services listed herein break down or for any cause cease to function properly, upon receipt of written notice from Tenant of any deficiency or failure of any services, Landlord shall use reasonable diligence to
repair the same promptly, but Tenant shall have no right to terminate this Lease and shall have no claim for rebate of rent or damages on account of any interruptions in service occasioned thereby or resulting therefrom. Tenant waives the 

  

 Page 9 

 
provisions of California Civil Code Sections 1941 and 1942 concerning the Landlord’s obligation of tenantability and Tenant’s right to make repairs
and deduct the cost of such repairs from the rent. Landlord shall not be liable for a loss of or injury to person or property, however occurring, through or in connection with or incidental to furnishing, or its failure to furnish, any of the
foregoing. 
  
 9. HAZARD INSURANCE: 
  
 A. Tenant’s Use: Tenant shall not use or permit the Premises, or
any part thereof, to be used for any purpose other than that for which the Premises are hereby leased; and no use of the Premises shall be made or permitted, nor acts done, which will cause an increase in premiums or a cancellation of any insurance
policy covering the Premises or any part thereof, nor shall Tenant sell or permit to be sold, kept, or used in or about the Premises, any article prohibited by the standard form of fire insurance policies. Tenant shall, at its sole cost, comply with
all requirements of any insurance company or organization necessary for the maintenance of reasonable fire and public liability insurance covering the Premises and appurtenances. 
  
 B. Landlord’s Insurance: Landlord agrees to purchase and keep in force fire, extended coverage insurance in an
amount equal to the replacement cost of the Building (not including any Tenant Improvements or Alterations paid for by Tenant from sources other than the Work Allowance) as determined by Landlord’s insurance company’s appraisers. If
commercially available and carried by other owners of commercial properties in the area, such fire and property damage insurance may be endorsed to cover loss caused by such additional perils against which Landlord may elect to insure, including
earthquake and/or flood (if available at commercially reasonable rates), and shall contain reasonable deductibles which, in the case of earthquake and flood insurance may be up to fifteen percent (15%) of the replacement value of the property.
Additionally Landlord may maintain a policy of (i) commercial general liability insurance insuring Landlord (and such others designated by Landlord) against liability for personal injury, bodily injury, death and damage to property occurring or
resulting from an occurrence in, on or about the Premises or Project in an amount as Landlord determines is reasonably necessary for its protection, and (ii) rental lost insurance covering a twelve (12) month period. Tenant agrees to pay Landlord as
additional rent, on demand, the full cost of said insurance as evidenced by insurance billings to Landlord, and in the event of damage covered by said insurance, the amount of any deductible under such policy. Payment shall be due to Landlord within
ten (10) days after written invoice to Tenant. It is understood and agreed that Tenant’s obligation under this Section will be prorated to reflect the Lease Commencement and Expiration Dates. 
  
 C. Tenant’s Insurance: Tenant agrees, at its sole cost, to insure
its personal property, Tenant Improvements (for which it has paid from sources other than the Work Allowance), and Alterations for their full replacement value (without depreciation) and to obtain worker’s compensation and public liability and
property damage insurance for occurrences within the Premises with a combined single limit of not less than Five Million Dollars ($5,000,000.00). Tenant’s liability insurance shall be primary insurance containing a cross-liability endorsement,
and shall provide coverage on an “occurrence” rather than on a “claims made” basis. Tenant shall name Landlord and Landlord’s lender as an additional insured and shall 

  

 Page 10 

 
deliver a copy of the policies and renewal certificates to Landlord. All such policies shall provide for thirty (30) days’ prior written notice to
Landlord of any cancellation, termination, or reduction in coverage. 
  
 D. Waiver: Landlord and Tenant hereby waive all rights each may have against the other on account of any loss or damage sustained by Landlord or Tenant, as the case may be, or to the Premises or its contents, which may arise from any
risk covered by their respective insurance policies (or which would have been covered had such insurance policies been maintained in accordance with this Lease) as set forth above. The Parties shall use their reasonable efforts to obtain from their
respective insurance companies a waiver of any right of subrogation which said insurance company may have against Landlord or Tenant, as the case may be. 
  
 10. TAXES: Tenant shall be liable for and shall pay as additional rental, prior to delinquency, the following: (i) all taxes and assessments levied against
Tenant’s personal property and trade or business fixtures; (ii) all real estate taxes and assessment installments or other impositions or charges which may be levied on the Premises or upon the occupancy of the Premises, including any
substitute or additional charges which may be imposed applicable to the Lease Term; and (iii) real estate tax increases due to an increase in assessed value resulting from a sale, transfer or other change of ownership of the Premises as it appears
on the City and County tax bills during the Lease Term. Tenant’s obligation under this Section shall be prorated to reflect the Lease Commencement and Expiration Dates. If, at any time during the Lease Term a tax, excise on rents, business
license tax or any other tax, however described, is levied or assessed against Landlord as a substitute or addition, in whole or in part, for taxes assessed or imposed on land or Buildings, Tenant shall pay and discharge its pro rata share of such
tax or excise on rents or other tax before it becomes delinquent; except that this provision is not intended to cover net income taxes, inheritance, gift or estate tax imposed upon Landlord. In the event that a tax is placed, levied, or assessed
against Landlord and the taxing authority takes the position that Tenant cannot pay and discharge its pro rata share of such tax on behalf of Landlord, then at Landlord’s sole election, Landlord may increase the Base Monthly Rent by the exact
amount of such tax and Tenant shall pay such increase. If by virtue of any application or proceeding brought by Landlord, there results a reduction in the assessed value of the Premises during the Lease Term, Tenant agrees to pay Landlord a fee
consistent with the fees charged by a third party appeal firm for such services. 
  
 11. UTILITIES: Tenant shall pay directly to the providing utility all water, gas, electric, telephone, and other utilities supplied to the Premises. Landlord shall not be liable for loss of or injury to person or property, however
occurring, through or in connection with or incidental to furnishing or the utility company’s failure to furnish utilities to the Premises, and in such event Tenant shall not be entitled to abatement or reduction of any portion of Base Monthly
Rent or any other amount payable under this Lease. 
  
 12. TOXIC WASTE AND
ENVIRONMENTAL DAMAGE: 
  
 A. Tenant’s
Responsibility: Without the prior written consent of Landlord, Tenant or Tenant’s agents, employees, contractors and invitees (“Tenant’s Agents”) shall not bring, use, or permit upon the Premises, or generate, 

  

 Page 11 

 
create, release, emit, or dispose (nor permit any of the same) from the Premises any chemicals, toxic or hazardous gaseous, liquid or solid materials or
waste, including without limitation, material or substance having characteristics of ignitability, corrosivity, reactivity, or toxicity or substances or materials which are listed on any of the Environmental Protection Agency’s lists of
hazardous wastes or which are identified in Division 22 Title 26 of the California Code of Regulations as the same may be amended from time to time or any wastes, materials or substances which are or may become regulated by or under the authority of
any applicable local, state or federal laws, judgments, ordinances, orders, rules, regulations, codes or other governmental restrictions, guidelines or requirements (“Hazardous Materials”) except for those substances customary in typical
office and data center uses for which no consent shall be required. In order to obtain consent, Tenant shall deliver to Landlord its written proposal describing the toxic material to be brought onto the Premises, measures to be taken for storage and
disposal thereof, safety measures to be employed to prevent pollution of the air, ground, surface and ground water. Landlord’s approval may be withheld in its reasonable judgment_. In the event Landlord consents to Tenant’s use of
Hazardous Materials on the Premises or such consent is not required, Tenant represents and warrants that it shall comply with all Governmental Regulations applicable to Hazardous Materials including doing the following: (i) adhere to all reporting
and inspection requirements imposed by Federal, State, County or Municipal laws, ordinances or regulations and will provide Landlord a copy of any such reports or agency inspections; (ii) obtain and provide Landlord copies of all necessary permits
required for the use and handling of Hazardous Materials on the Premises; (iii) enforce Hazardous Materials handling and disposal practices consistent with industry standards; (iv) surrender the Premises free from any Hazardous Materials arising
from Tenant’s bringing, using, permitting, generating, creating, releasing, emitting or disposing of Hazardous Materials; and (v) properly close the facility with regard to Hazardous Materials including the removal or decontamination of any
process piping, mechanical ducting, storage tanks, containers, or trenches which have come into contact with Hazardous Materials and obtain a closure certificate from the local administering agency within 30 days following the Expiration Date.

  
 Provided Tenant complies with the provisions of this Section 12 and any other
applicable Sections of the Lease, Landlord hereby consents to Tenant’s use of diesel and the presence of diesel tanks on the Premises, provided such diesel tanks are either above-grade or in existing appropriate vaults on the Premises.

  
 B. Tenant’s Indemnity Regarding Hazardous
Materials: Tenant shall, at its sole cost and expense, comply with all laws pertaining to, and shall with counsel reasonably acceptable to Landlord, indemnify, defend and hold harmless Landlord and Landlord’s trustees, shareholders,
directors, officers, employees, partners, affiliates, and agents from, any claims, liabilities, costs or expenses incurred or suffered arising from the bringing, using, permitting, generating, emitting or disposing of Hazardous Materials by Tenant,
Tenant’s Agents, or a third party whose presence upon the Premises are related to Tenant’s use and occupancy thereof, through the surface soils of the Premises during the Lease Term or the violation of any Governmental Regulation or
environmental law, by Tenant or Tenant’s Agents. Tenant’s indemnification, defense, and hold 

  

 Page 12 

 
harmless obligations include, without limitation, the following: (i) claims, liability, costs or expenses resulting from or based upon administrative,
judicial (civil or criminal) or other action, legal or equitable, brought by any private or public person under common law or under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 as amended (“CERCLA”), the
Resource Conservation and Recovery Act of 1980 (“RCRA”) or any other Federal, State, County or Municipal law, ordinance or regulation now or hereafter in effect; (ii) claims, liabilities, costs or expenses pertaining to the identification,
monitoring, cleanup, containment, or removal of Hazardous Materials from soils, riverbeds or aquifers including the provision of an alternative public drinking water source; (iii) all costs of defending such claims; (iv) losses attributable to
diminution in the value of the Premises or the Building; (v) loss or restriction of use of rentable space in the Building; (vi) Adverse effect on the marketing of any space in the Building; and (vi) all other liabilities, obligations, penalties,
fines, claims, actions (including remedial or enforcement actions of any kind and administrative or judicial proceedings, orders or judgments), damages (including consequential and punitive damages), and costs (including attorney, consultant, and
expert fees and expenses) resulting from the release or violation. This Section 12.B shall survive the expiration or termination of this Lease. 
  
 C. Actual Release by Tenant: Tenant agrees to notify Landlord of any lawsuits or orders which relate to the remedying of or actual release of
Hazardous Materials on or into the soils or ground water at or under the Premises. Tenant shall also provide Landlord all notices required by Section 25359.7(b) of the Health and Safety Code and all other notices required by law to be given to
Landlord in connection with Hazardous Materials. Without limiting the foregoing, Tenant shall also deliver to Landlord, within twenty (20) days after receipt thereof, any written notices from any governmental agency alleging a material violation of,
or material failure to comply with, any federal, state or local laws, regulations, ordinances or orders, the violation of which or failure to comply with poses a foreseeable and material risk of contamination of the ground water or injury to humans
(other than injury solely to Tenant or Tenant’s Agents. In the event of any release on or into the Premises or into the soil or ground water under the Premises, the Building or the Project of any Hazardous Materials used, treated, stored or
disposed of by Tenant or Tenant’s Agents, Tenant agrees to comply, at its sole cost, with all laws, regulations, ordinances and orders of any federal, state or local agency relating to the monitoring or remediation of such Hazardous Materials.
In the event of any such release of Hazardous Materials Tenant shall immediately give verbal and follow-up written notice of the release to Landlord, and Tenant agrees to meet and confer with Landlord and its Lender to attempt to eliminate and
mitigate any financial exposure to such Lender and resultant exposure to Landlord under California Code of Civil Procedure Section 736(b) as a result of such release, and promptly to take reasonable monitoring, cleanup and remedial steps given,
inter alia, the historical uses to which the Property has and continues to be used, the risks to public health posed by the release, the then available technology and the costs of remediation, cleanup and monitoring, consistent with acceptable
customary practices for the type and severity of such contamination and all applicable laws. Nothing in the preceding sentence shall eliminate, modify or reduce the obligation of Tenant under 12.B of this Lease to indemnify, defend and hold 

  

 Page 13 

 
Landlord harmless from any claims liabilities, costs or expenses incurred or suffered by Landlord. Tenant shall provide Landlord prompt written notice of
Tenant’s monitoring, cleanup and remedial steps. 
  
 In the
absence of an order of any federal, state or local governmental or quasi-governmental agency relating to the cleanup, remediation or other response action required by applicable law, any dispute arising between Landlord and Tenant concerning
Tenant’s obligation to Landlord under this Section 12.C concerning the level, method, and manner of cleanup, remediation or response action required in connection with such a release of Hazardous Materials shall be resolved by mediation and/or
arbitration pursuant to this Lease. 
  
 D. Environmental
Monitoring: Landlord and its agents shall have the right to inspect, investigate, sample and monitor the Premises including any air, soil, water, ground water or other sampling or any other testing, digging, drilling or analysis to determine
whether Tenant is complying with the terms of this Section 12. If Landlord discovers that Tenant is not in compliance with the terms of this Section 12, any such costs incurred by Landlord, including attorneys’ and consultants’ fees, shall
be due and payable by Tenant to Landlord within five (5) days following Landlord’s written demand therefore. 
  
 13. TENANT’S DEFAULT: The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant: (i) Tenant’s failure
to pay the Base Monthly Rent including additional rent or any other payment due under this Lease by the date such amount is due, where such failure continues for five (5) business days after Landlord’s delivery of written notice, (ii) the
abandonment of the Premises by Tenant for a consecutive period of ninety (90) days or longer; (iii) Tenant’s failure to observe and perform any other required provision of this Lease, where such failure continues for thirty (30) days after
written notice from Landlord; provided, however, that if the nature of the default is such that it cannot reasonably be cured within the 30-day period, Tenant shall not be deemed in default if it commences within such period to cure, and thereafter
diligently prosecutes the same to completion; (iv) Tenant’s making of any general assignment for the benefit of creditors; (v) the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization
or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); (vi) the appointment of a trustee or receiver to take possession of substantially all of
Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (vii) the attachment, execution or other judicial seizure of substantially all of
Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days. 
  
 A. Remedies: In the event of any such default by Tenant, then in addition to other remedies available to Landlord at law or in equity, Landlord
shall have the immediate option to terminate this Lease and all rights of Tenant hereunder by giving written notice of such intention to terminate. In the event Landlord elects to so terminate this Lease, Landlord may recover from Tenant all the
following: (i) the worth at time of award of any unpaid rent which had been earned at the time of such termination; (ii) the worth at time of award of the amount by which the unpaid rent which would have been earned after termination until the time
of award exceeds the amount of such rental 

  

 Page 14 

 
loss for the same period that Tenant proves could have been reasonably avoided; (iii) the worth at time of award of the amount by which the unpaid rent for
the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; (iv) any other amount necessary to compensate Landlord for all detriment proximately caused
by.-Tenant’s failure to perform its obligations under this Lease, or which in the ordinary course of things would be likely to result therefrom; including the following: (x) expenses for repairing, altering or remodeling the Premises for
purposes of reletting, (y) broker’s fees, advertising costs or other expenses of reletting the Premises and (z) costs of carrying the Premises such as taxes, insurance premiums, utilities and security precautions; and (v) at Landlord’s
election, such other amounts in addition to or in lieu of the foregoing as may be permitted by applicable California law. The computation of the damages pursuant to the foregoing shall include a credit for that portion of any rent to which Landlord
is entitled pursuant to a subsequent lease which, for the remaining balance of the Lease Term under this Lease, is higher than the Base Monthly Rent which would be due hereunder during such period. The term “rent”, as used herein, is
defined as the minimum monthly installments of Base Monthly Rent and all other sums required to be paid by Tenant pursuant to this Lease, all such other sums being deemed as additional rent due hereunder. As used in (i) and (ii) above, “worth
at the time of award” shall be computed by allowing interest at a rate equal to the discount rate of the Federal Reserve Bank of San Francisco plus five (5%) percent per annum. As used in (iii) above, “worth at the time of award”
shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one (1%) percent. 
  
 B. Right to Re-enter: In the event of any such default by Tenant, Landlord shall have the right, after terminating this Lease, to re-enter the
Premises and remove all persons and property. Such property may be removed and stored in a public warehouse or elsewhere at the cost of and for the account of Tenant, and disposed of by Landlord in any manner permitted by law. 
  
 C. Abandonment: If Landlord does not elect to terminate this Lease as
provided in Section 13.A or 13.B above, then the provisions of California Civil Code Section 1951.4, (Landlord may continue the lease in effect after Tenant’s breach and abandonment and recover rent as it becomes due if Tenant has a right to
sublet and assign, subject only to reasonable limitations) as amended from time to time, shall apply and Landlord may from time to time, without terminating this Lease, either recover all rental as it becomes due or relet the Premises or any part
thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable, with the right to make alterations and repairs to the Premises. In the event that Landlord
elects to so relet, rentals received by Landlord from such reletting shall be applied in the following order to: (i) the payment of any indebtedness other than Base Monthly Rent due hereunder from Tenant to Landlord; (ii) the payment of any cost of
such reletting; (iii) the payment of the cost of any alterations and repairs to the Premises; and (iv) the payment of Base Monthly Rent due and unpaid hereunder. The residual rentals, if any, shall be held by Landlord and applied in payment of
future Base Monthly Rent as the same may become due and payable hereunder. Landlord shall the obligation to market the space but shall have no obligation to relet the Premises 

  

 Page 15 

 
following a default if Landlord has other comparable available space within the Building or Project. In the event the portion of rentals received from such
reletting which is applied to the payment of rent hereunder during any month be less than the rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord immediately upon demand. Such deficiency shall be
calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.

  
 D. No Termination: Landlord’s re-entry or taking
possession of the Premises pursuant to 13.B or 13.C shall not be construed as an election to terminate this Lease unless written notice of such intention is given to Tenant or unless the termination is decreed by a court of competent jurisdiction.
Notwithstanding any reletting without termination by Landlord because of any default by Tenant, Landlord may at any time after such reletting elect to terminate this Lease for any such default. 
  
 E. Non-Waiver: Landlord may accept Tenant’s payments without
waiving any rights under this Lease, including rights under a previously served notice of default. No payment by Tenant or receipt by Landlord of a lesser amount than any installment of rent due shall be deemed as other than payment on account of
the amount due. If Landlord accepts payments after serving a notice of default, Landlord may nevertheless commence and pursue an action to enforce rights and remedies under the previously served notice of default without giving Tenant any further
notice or demand. Furthermore, the Landlord’s acceptance of rent from the Tenant when the Tenant is holding over without express written consent does not convert Tenant’s Tenancy from a tenancy at sufferance to a month to month tenancy. No
waiver of any provision of this Lease shall be implied by any failure of Landlord to enforce any remedy for the violation of that provision, even if that violation continues or is repeated. Any waiver by Landlord of any provision of this Lease must
be in writing. Such waiver shall affect only the provision specified and only for the time and in the manner stated in the writing. No delay or omission in the exercise of any right or remedy by Landlord shall impair such right or remedy or be
construed as a waiver thereof by Landlord. No act or conduct of Landlord, including, without limitation, the acceptance of keys to the Premises, shall constitute acceptance of the surrender of the Premises by Tenant before the Expiration Date. Only
written notice from Landlord to Tenant of acceptance shall constitute such acceptance of surrender of the Premises. Landlord’s consent to or approval of any act by Tenant which requires Landlord’s consent or approvals shall not be deemed
to waive or render unnecessary Landlord’s consent to or approval of any subsequent act by Tenant. 
  
 F. Performance by Landlord: If Tenant fails to perform any obligation required under this Lease or by law or governmental regulation, Landlord in
its sole discretion may, without notice, without waiving any rights or remedies and without releasing Tenant from its obligations hereunder, perform such obligation, in which event Tenant shall pay Landlord as additional rent all sums reasonably
paid by Landlord in connection with such substitute performance, including interest at the Agreed Interest Rate (as defined in Section 19.J) within ten (10) days of Landlord’s written notice for such payment. 
  

 Page 16 

 G. Habitual Default: The provisions of Section 13 notwithstanding, the Parties agree that if
Tenant shall have materially defaulted in the performance of any (but not necessarily the same) term or condition of this Lease for five (5) or more times during any twelve (12) month period during the Lease Term, then such conduct shall, at the
election of the Landlord, represent a separate event of default which cannot be cured by Tenant. Tenant acknowledges that the purpose of this provision is to prevent repetitive material defaults by Tenant, which work a hardship upon Landlord and
deprive Landlord of Tenant’s timely performance under this Lease. 
  
 14.
LANDLORD’S LIABILITY: 
  
 A. Limitation on
Landlord’s Liability: In the event of Landlord’s failure to perform any of its covenants or agreements under this Lease, Tenant shall give Landlord written notice of such failure and shall give Landlord thirty (30) days to cure or
commence to cure such failure prior to any claim for breach or resultant damages, provided, however, that: (i) if the nature of the default is such that it cannot reasonably be cured within the 30-day period, Landlord shall not be deemed in default
if it commences within such period to cure, and thereafter diligently prosecutes the same to completion; and (ii) in the event of emergency, Landlord shall use its best efforts to cure or commence to cure such failure as soon as reasonably possible.
In addition, upon any such failure by Landlord, Tenant shall give notice by registered or certified mail to any person or entity with a security interest in the Premises (“Mortgagee”) that has provided Tenant with notice of its interest in
the Premises, and shall provide Mortgagee a reasonable opportunity to cure such failure. Tenant agrees that each of the Mortgagees to whom this Lease has been assigned is an expressed third-party beneficiary hereof. Tenant waives any right under
California Civil Code Section 1950.7 or any other present or future law to the collection of any payment or deposit from Mortgagee or any purchaser at a foreclosure sale of Mortgagee’s interest unless Mortgagee or such purchaser shall have
actually received and not refunded the applicable payment or deposit. Tenant Further waives any right to terminate this Lease and to vacate the Premises on Landlord’s default under this Lease. Tenant’s sole remedy on Landlord’s
default is an action for damages or injunctive or declaratory relief. 
  
 B. Limitation on Tenant’s Recourse: If Landlord is a corporation, trust, partnership, joint venture, unincorporated association or other form of business entity, then (i) the obligations of Landlord shall not constitute personal
obligations of the officers, directors, trustees, partners, joint venturers, members, owners, stockholders, or other principals or representatives except to the extent of their interest in the Premises. Tenant shall have recourse only to the
interest of Landlord in the Premises or for the satisfaction of the obligations of Landlord and shall not have recourse to any other assets of Landlord for the satisfaction of such obligations. Notwithstanding the foregoing, the provisions of this
Section 14.B shall not apply to a default by Landlord in the return of the Security Deposit. 
  
 C. Indemnification of Landlord: As a material part of the consideration rendered to Landlord, Tenant hereby waives all claims against Landlord for damages to goods, wares and merchandise, and all other personal
property in, upon or about said Premises and for injuries to persons in or about said Premises, from any cause arising at any time to the fullest extent permitted by 

  

 Page 17 

 
law, and Tenant shall indemnify, defend with counsel reasonably acceptable to Landlord and hold Landlord, and their shareholders, directors, officers,
trustees, employees, partners, affiliates- and agents from any claims, liabilities, costs or expenses incurred or suffered arising from the use of occupancy of the Premises or any part of the Project by Tenant or Tenant’s Agents, the acts or
omissions of Tenant or Tenant’s Agents, Tenant’s breach of this Lease, or any damage or injury to person or property from any cause, except to the extent caused by the willful misconduct or active negligence of Landlord or from the failure
of Tenant to keep the Premises in good condition and repair as herein provided, except to the extent due to the gross negligence or willful misconduct of Landlord. Further, in the event Landlord is made party to any litigation due to the acts or
omission of Tenant and Tenant’s Agents, Tenant will indemnify, defend (with counsel reasonably acceptable to Landlord) and hold Landlord harmless from any such claim or liability including Landlord’s costs and expenses and reasonable
attorney’s fees incurred in defending such claims. 
  
 15. DESTRUCTION OF
PREMISES: 
  
 A. Landlord’s Obligation to
Restore: In the event of a destruction of the Premises during the Lease Term Landlord shall repair the same to a similar condition to that which existed prior to such destruction. Such destruction shall not annul or void this Lease; however,
Tenant shall be entitled to a proportionate reduction of Base Monthly Rent from the date of destruction until the repairs are sufficiently complete to allow Tenant to conduct its business without material interference, such proportionate reduction
to be based upon the extent to which the repairs interfere with Tenant’s business in the Premises, as reasonably determined by Landlord. In no event shall Landlord be required to replace or restore Alterations, Tenant Improvements paid for by
Tenant from sources other than the Work Allowance or Tenant’s fixtures or personal property. With respect to a destruction which Landlord is obligated to repair or may elect to repair under the terms of this Section, Tenant waives the
provisions of Section 1932, and Section 1933, Subdivision 4, of the Civil Code of the State of California, and any other similarly enacted statute, and the provisions of this Section 15 shall govern in the case of such destruction. 
  
 B. Limitations on Landlord’s Restoration Obligation:
Notwithstanding the provisions of Section 15.A, Landlord shall have no obligation to repair, or restore the Premises if any of the following occur: (i) if the repairs cannot be made in one hundred eighty (180) days from the date of receipt of all
governmental approvals necessary under the laws and regulations of State, Federal, County or Municipal authorities to effect such repairs, as reasonably determined by Landlord, (ii) if the holder of the first deed of trust or mortgage encumbering
the Building elects not to permit the insurance proceeds payable upon damage or destruction to be used for such repair or restoration, (iii) the damage or destruction is not fully covered by the insurance maintained by Landlord and any amounts
Tenant elects, in its sole discretion, to pay towards the cost of repair or restoration, (iv) the damage or destruction occurs in the last twenty four (24) months of the Lease Term, (v) Tenant is in default pursuant to the provisions of Section 13,
or (vi) Tenant has vacated the Premises for more than one hundred twenty (120) days. In any such event Landlord may elect either to (i) complete the repair or restoration, or (ii) terminate this Lease by providing Tenant written notice of its
election within sixty (60) days following the damage or 

  

 Page 18 

 
destruction. If the repairs cannot be made within one hundred eighty (180) days from the date of receipt of all governmental approvals necessary under the
laws and regulations of State, Federal, County or Municipal authorities to effect such repairs, Tenant may elect to terminate this Lease by providing Landlord written notice of its election within sixty (60) days following the date of the damage or
destruction. 
  
 16. CONDEMNATION: If any part of the Premises shall be
taken for any public or quasi-public use, under any statute or by right of eminent domain or private purchase in lieu thereof, and only a part thereof remains which is susceptible of occupation hereunder, this Lease shall, as to the part so taken,
terminate as of the day before title vests in the condemnor or purchaser (“Vesting Date”) and Base Monthly Rent payable hereunder shall be adjusted so that Tenant is required to pay for the remainder of the Lease Term only such portion of
Base Monthly Rent as the value of the part remaining after such taking bears to the value of the entire Premises prior to such taking. Further, in the event of such partial taking, Landlord shall have the option to terminate this Lease as of the
Vesting Date. If all of the Premises or such part thereof be taken so that there does not remain a portion susceptible for occupation hereunder, this Lease shall terminate on the Vesting Date. If part or all of the Premises be taken, all
compensation awarded upon such taking shall go to Landlord; and Tenant shall have no claim thereto; except Landlord shall cooperate with Tenant, without cost to Landlord, to recover compensation for damage to or taking of any Alterations, Tenant
Improvements paid for by Tenant from sources other than the Work Allowance, or for Tenant’s moving costs. Tenant hereby waives the provisions of California Code of Civil Procedures Section 1265.130 and any other similarly enacted statue, and
the provisions of this Section 16 shall govern in the case of a taking. 
  
 17.
ASSIGNMENT OR SUBLEASE: 
  
 A. Consent by
Landlord: Except as specifically provided in this Section 17.E, Tenant may not assign, sublet, hypothecate, or allow a third party to use the Premises without the express written consent of Landlord. In the event Tenant desires to assign this
Lease or any interest herein or sublet the Premises or any part thereof, Tenant shall deliver to Landlord (i) executed counterparts of any agreement and of all ancillary agreements with the proposed assignee/subtenant, (ii) current financial
statements of the transferee covering the preceding three years, (iii) the nature of the proposed transferee’s business to be carried on in the Premises, (iv) a statement outlining all consideration to be given on account of the Transfer, and
(v) a current financial statement of Tenant. Landlord may condition its approval of any Transfer on receipt of a certification from both Tenant and the proposed transferee of all consideration to be paid to Tenant in connection with such Transfer.
At Landlord’s request, Tenant shall also provide additional information reasonably required by Landlord to determine whether it will consent to the proposed assignment or sublease. Landlord shall have a fifteen (15) day period following receipt
of all the foregoing within which to notify Tenant in writing that Landlord elects to: (i) terminate this Lease in the event the proposed sublease or assignment is for substantially all of space in the Premises; (ii) permit Tenant to assign or
sublet such space to the named assignee/subtenant on the terms and conditions set forth in the notice; or (iii) refuse consent. If Landlord should fail to notify Tenant in writing of such election within the 15-day period, Landlord shall be deemed
to have elected option (iii) above. In the event Landlord elects option (i) 

  

 Page 19 

 
above, this Lease shall expire with respect to such part of the Premises on the date upon which the proposed sublease or transfer was to commence, and from
such date forward, Base Monthly Rent and Tenant’s Allocable Share of all other costs and charges shall be adjusted based upon the proportion that the rentable area of the Premises remaining bears to the total rentable area of the Building. In
the event Landlord elects option (ii) above, Landlord’s written consent to the proposed assignment or sublease shall not be unreasonably withheld, provided and upon the condition that: (i) the proposed assignee or subtenant is engaged in a
business that is limited to the use expressly permitted under this Lease; (ii) the proposed assignee or subtenant is a company with sufficient financial worth and management ability to undertake the financial obligation of this Lease and Landlord
has been furnished with reasonable proof thereof; (iii) the proposed assignment or sublease is in form reasonably satisfactory to Landlord; and (iv) Tenant reimburses Landlord on demand for any reasonable costs that may be incurred by Landlord in
connection with said assignment or sublease, including the costs of making investigations as to the acceptability of the proposed assignee or subtenant and legal costs incurred in connection with the granting of any requested consent. Additionally,
Tenant acknowledges that Landlord may condition its consent to any assignment or sublease upon the continued guaranty of the Lease by Guarantor as defined in Lease Section 20 below. In the event all or any one of the foregoing conditions are not
satisfied, Landlord shall be considered to have acted reasonably if it withholds its consent. 
  
 B. Assignment or Subletting Consideration: Any rent or other economic consideration realized by Tenant under any sublease and assignment, in excess of the Base Monthly Rent payable hereunder and reasonable
subletting and assignment costs (i.e., Alterations directly associated with such sublease, legal fees and real estate commissions), shall be divided and paid fifty percent (50%) to Landlord and fifty percent (50%) to Tenant. Tenant’s obligation
to pay over Landlord’s portion of the consideration constitutes an obligation for additional rent hereunder. The above provisions relating to Landlord’s right to terminate the Lease and relating to the allocation of excess rent are
independently negotiated terms of the Lease which constitute a material inducement for the Landlord to enter into the Lease, and are agreed by the Parties to be commercially reasonable. No assignment or subletting by Tenant shall relieve it of any
obligation under this Lease. Any assignment or subletting which conflicts with the provisions hereof shall be void. 
  
 C. No Release: Any assignment shall be made only if and shall not be effective until the assignee shall execute, acknowledge, and deliver to
Landlord an agreement, in form and substance satisfactory to Landlord, whereby the assignee shall assume all the obligations of this Lease on the part of Tenant to be performed or observed and shall be subject to all the covenants, agreements,
terms, provisions and conditions in this Lease. Notwithstanding any such assignment and the acceptance of rent by Landlord from any assignee, Tenant and any guarantor shall remain fully liable for the payment of Base Monthly Rent and additional rent
due, and to become due hereunder, for the performance of all the covenants, agreements, terms, provisions and conditions contained in this Lease on the part of Tenant to be performed and for all acts and omissions of any licensee, assignee or any
other person claiming under or through any subtenant or assignee that shall be in violation of any of the terms and conditions of this Lease, and 

  

 Page 20 

 
any such violation shall be deemed a violation by Tenant. Tenant shall indemnify, defend and hold Landlord harmless from and against all losses, liabilities,
damages, costs and expenses (including reasonable attorney fees) resulting from any claims that may be made against Landlord by the proposed assignee or subtenant or by any real estate brokers or other persons claiming compensation in connection
with the proposed assignment or sublease. 
  
 D. Reorganization
of Tenant: The provisions of this Section 17.D shall apply if Tenant is a corporation and: (i) there is a dissolution, merger, consolidation, or other reorganization of or affecting Tenant, where Tenant is not the surviving corporation, or (ii)
there is a sale or transfer to one person or entity (or to any group of related persons or entities) of stock possessing more than 50% of the total combined voting power of all classes of Tenant’s capital stock issued, outstanding and entitled
to vote for the election of directors, and after such sale or transfer of stock Tenant’s stock is no longer publicly traded. In a transaction under clause (i) the surviving corporation shall promptly execute and deliver to Landlord an agreement
in form reasonably satisfactory to Landlord under which such surviving corporation assumes the obligations of Tenant hereunder, and in a transaction under clause (ii) the transferee or buyer shall promptly execute and deliver to Landlord an
agreement in form reasonably satisfactory to Landlord under which such transferee or buyer assumes the obligations of Tenant under the Lease. 
  
 E. Permitted Transfers: Notwithstanding anything contained in this Section 17, so long as Tenant otherwise complies with the provisions of this
Article, Tenant may enter into any of the following transfers (a “Permitted Transfer”) without Landlord’s prior consent, and Landlord shall not be entitled to terminate the Lease or to receive any part of any subrent resulting
therefrom that would otherwise be due pursuant to Sections 17.A and 17.B. Tenant may sublease all or part of the Premises or assign its interest in this Lease to (i) any corporation which controls, is controlled by, or is under common control with
the original Tenant to this Lease by means of an ownership interest of more than 50%; (ii) a corporation which results from a merger, consolidation or other reorganization in which Tenant is not the surviving corporation, so long as the surviving
corporation has a net worth at the time of such assignment that is equal to or greater than the net worth of Tenant immediately prior to such transaction; and (iii) a corporation which purchases or otherwise acquires all or substantially all of the
assets of Tenant so long as such acquiring corporation has a net worth at the time of such assignment that is equal to or greater than the net worth of Tenant immediately prior to such transaction. 
  
 “Permitted Transfers” shall also include any Business Agreements (defined below)
entered into by Tenant with respect to the Premises, provided that Tenant remains in possession and control of the Premises, and provided further that any Business Affiliates (as defined below) comply in all respects with this Lease, including,
without limitation, the provisions hereof related to permitted uses and legal compliance. The term “Business Agreement(s)” shall mean any license, sublease, co-location agreement (defined below), or other arrangement which permits the use
or occupancy of portions of the Premises by any of Tenant’s subsidiaries, divisions, customers, “peering” partners, and/or contractors and subcontractors (collectively, “Business Affiliates”) and/or their equipment and
personnel. The term “Co-location 

  

 Page 21 

 
agreement(s)” shall mean any agreement entered into by Tenant with another party whereby Tenant is providing (whether by cable, fiber or other form of
physical transmission, wireless transmission, or any other mode of transmission) co-location, access, or any other form of connection to (a) the Internet, (b) any Internet successor or affiliated networking system, and/or (c) any other existing or
future telecommunications, networking, or communication systems. 
  
 F. Effect of Default: In the event of Tenant’s default, Tenant hereby assigns all rents due from any assignment or subletting to Landlord as security for performance of its obligations under this Lease, and Landlord may collect
such rents as Tenant’s Attorney-in-Fact, except that Tenant may collect such rents unless a default occurs as described in Section 13 above. A termination of the Lease due to Tenant’s default shall not automatically terminate an assignment
or sublease then in existence; rather at Landlord’s election, such assignment or sublease shall survive the Lease termination, the assignee or subtenant shall attorn to Landlord, and Landlord shall undertake the obligations of Tenant under the
sublease or assignment; except that Landlord shall not be liable for prepaid rent, security deposits or other defaults of Tenant to the subtenant or assignee, or for any acts or omissions of Tenant and Tenant’s Agents. 
  
 G. Conveyance by Landlord: As used in this Lease, the term
“Landlord” is defined only as the owner for the time being of the Premises, so that in the event of any sale or other conveyance of the Premises or in the event of a master lease of the Premises, Landlord shall be entirely freed and
relieved of all its covenants and obligations hereunder, and it shall be deemed and construed, without further agreement between the Parties and the purchaser at any such sale or the master tenant of the Premises, that the purchaser or master tenant
of the Premises has assumed and agreed to carry out any and all covenants and obligations of Landlord hereunder. Such transferor shall transfer and deliver Tenant’s security deposit to the purchaser at any such sale or the master tenant of the
Premises, and thereupon the transferor shall be discharged from any further liability in reference thereto. 
  
 H. Successors and Assigns: Subject to the provisions of this Section 17, the covenants and conditions of this Lease shall apply to and bind the
heirs, successors, executors, administrators and assigns of all Parties hereto; and all Parties hereto comprising Tenant shall be jointly and severally liable hereunder. 
  
 18. OPTION TO EXTEND THE LEASE TERM: 
  
 A. Grant and Exercise of Option: Landlord grants to Tenant, subject to the terms and conditions set forth in this Section 18.A, two (2) options
(the “Options”) to extend the Lease Term for an additional term (the “Option Term”). Each Option Term shall be for a period of sixty (60) months and shall be exercised, if at all, by written notice to Landlord no earlier than
eighteen (18) months prior to the date the Lease Term would expire but for such exercise but no later than twelve (12) months prior to the date the Lease Term would expire but for such exercise, time being of the essence for the giving of such
notice. If Tenant exercises the Option, all of the terms, covenants and conditions of this Lease except for the grant of additional Options pursuant to this Section, provided that Base Monthly Rent for the Premises payable by Tenant during the
Option Term shall be the greater of (i) the Base Monthly Rent applicable to the period immediately prior to the commencement of the Option 

  

 Page 22 

 
Term, and (ii) ninety five percent (95%) of the Fair Market Rental as hereinafter defined. Notwithstanding anything herein to the contrary, if Tenant is in
monetary or material non-monetary default under any of the terms, covenants or conditions of this Lease either at the time Tenant exercises the Option or at any time thereafter prior to the commencement date of the Option Term, Landlord shall have,
in addition to all of Landlord’s other rights and remedies provided in this Lease, the right to terminate the Option upon notice to Tenant, in which event the Lease Term shall not be extended pursuant to this Section 18.A. As used herein, the
term “Fair Market Rental” is defined as the rental and all other monetary payments, including any escalations and adjustments thereto (including without limitation Consumer Price Indexing) that Landlord could obtain during the Option Term
from a third party desiring to lease the Premises, based upon the current use and other potential uses of the Premises, as determined by the rents then being obtained for new leases of space comparable in age and quality to the Premises in the same
real estate submarket as the Building. Fair Market Rental shall further take into account that Tenant is in occupancy and making functional use of the Premises in its then existing condition and no additional work allowance or tenant improvements
shall be required of Landlord; however, Fair Market Rental shall not take into account Alterations or Tenant Improvements installed by Tenant which it has the right to remove pursuant to Section 7 above. The appraisers shall be instructed that the
foregoing five percent (5%) discount is intended to reduce comparable rents which include (i) brokerage commissions, (ii) tenant improvement allowances, and (iii) vacancy costs, to account for the fact that Landlord will not suffer such costs in the
event Tenant exercises its Option. 
  
 B. Determination of Fair
Market Rental: If Tenant exercises the Option, Landlord shall send Tenant a notice setting forth the Fair Market Rental for the Option Term within thirty (30) days following the Exercise Date. If Tenant disputes Landlord’s determination of
Fair Market Rental for the Option Term, Tenant shall, within thirty (30) days after the date of Landlord’s notice setting forth Fair Market Rental for the Option Term, send to Landlord a notice stating that Tenant either elects to terminate its
exercise of the Option, in which event the Option shall lapse and this Lease shall terminate on the Expiration Date, or that Tenant disagrees with Landlord’s determination of Fair Market Rental for the Option Term and elects to resolve the
disagreement as provided in Section 18.C below. If Tenant does not send Landlord a notice as provided in the previous sentence, Landlord’s determination of Fair Market Rental shall be the Base Monthly Rent payable by Tenant during the Option
Term. If Tenant elects to resolve the disagreement as provided in Section 18.C and such procedures are not concluded prior to the commencement date of the Option Term, Tenant shall pay to Landlord as Base Monthly Rent the Fair Market Rental as
determined by Landlord in the manner provided above. If the Fair Market Rental as finally determined pursuant to Section 18.C is greater than Landlord’s determination, Tenant shall pay Landlord the difference between the amount paid by Tenant
and the Fair Market Rental as so determined in Section 18.C within thirty (30) days after such determination. If the Fair Market Rental as finally determined in Section 18.C is less than Landlord’s determination, the difference between the
amount paid by Tenant and the Fair Market Rental as so determined in Section 18.C shall be credited against the next installments of Base Monthly Rent due from Tenant to Landlord hereunder. 
  

 Page 23 

 C. Resolution of a Disagreement over the Fair Market Rental: Any disagreement regarding Fair
Market Rental shall be resolved as follows: 
  
 Within thirty (30) days after
Tenant’s response to Landlord’s notice setting forth the Fair Market Rental, Landlord and Tenant shall meet at a mutually agreeable time and place, in an attempt to resolve the disagreement. 
  
 If within the 30-day period referred to above, Landlord and Tenant cannot reach agreement as
to Fair Market Rental, each party shall select one appraiser to determine Fair Market Rental. Each such appraiser shall arrive at a determination of Fair Market Rental and submit their conclusions to Landlord and Tenant within thirty (30) days after
the expiration of the 30-day consultation period described above. 
  
 If only one
appraisal is submitted within the requisite time period, it shall be deemed as Fair Market Rental. If both appraisals are submitted within such time period and the two appraisals so submitted differ by less than ten percent (10%), the average of the
two shall be deemed as Fair Market Rental. If the two appraisals differ by more than 10%, the appraisers shall immediately select a third appraiser who shall, within thirty (30) days after his selection, make and submit to Landlord and Tenant a
determination of Fair Market Rental. This third appraisal will then be averaged with the closer of the two previous appraisals and the result shall be Fair Market Rental. 
  
 All appraisers specified pursuant to this Section shall be members of the American Institute of Real Estate Appraisers with not less than
ten (10) years’ experience appraising office and industrial properties in the Santa Clara Valley. Each party shall pay the cost of the appraiser selected by such party and one-half of the cost of the third appraiser. 
  
 D. Personal to Tenant: All Options provided to Tenant in this Lease
are personal and granted to AboveNet Communications, Inc. (or a permitted transferee as described in Section 17.E) and are not exercisable by any third party should Tenant assign or sublet all or a portion of its rights under this Lease, unless
Landlord consents to permit exercise of any option by any assignee or subtenant, in Landlord’s sole and absolute discretion. 
  
 19. GENERAL PROVISIONS: 
  
 A. Attorney’s Fees: In the event a suit or alternative form of dispute resolution is brought for the possession of the Premises, for the
recovery of any sum due hereunder, to interpret the Lease, or because of the breach of any other covenant herein; then the losing party shall pay to the prevailing party reasonable attorney’s fees including the expense of expert witnesses,
depositions and court testimony as part of its costs which shall be deemed to have accrued on the commencement of such action. The prevailing party shall also be entitled to recover all costs and expenses including reasonable attorney’s fees
incurred in enforcing any judgment or award against the other party. The foregoing provision relating to post-judgment costs is severable from all other provisions of this Lease. 
  
 B. Authority of Parties: Tenant represents and warrants that it is duly formed and in good standing, and is duly
authorized to execute and deliver this Lease on behalf of said corporation, in accordance with a duly adopted resolution of the Board of Directors of said corporation or in accordance with the by-laws of said corporation, and that this Lease is
binding 

  

 Page 24 

 
upon said corporation in accordance with its terms. At Landlord’s request, Tenant shall provide Landlord with corporate resolutions or other proof in a
form acceptable to Landlord, authorizing the execution of the Lease. 
  
 C. Brokers: Tenant represents it has not utilized or contacted a real estate broker or finder with respect to this Lease other than Cornish & Carey Commercial and Tenant agrees to indemnify, defend and hold Landlord harmless
against any claim, cost, liability or cause of action asserted by any other broker or finder claiming through Tenant. 
  
 D. Choice of Law: This Lease shall be governed by and construed in accordance with California law. Except as provided in Section 19.E, venue shall
be Santa Clara County. 
  
 E. Dispute Resolution: Landlord
and Tenant and any other party that may become a party to this Lease or be deemed a party to this Lease including any subtenants agree that, except for any claim by Landlord for unlawful detainer or any claim within the jurisdiction of the small
claims court (which small claims court shall be the sole court of competent jurisdiction), any controversy, dispute, or claim of whatever nature arising out of, in connection with or in relation to the interpretation, performance or breach of this
Lease, including any claim based on contract, tort, or statute, shall be resolved at the request of any party to this agreement through a two-step dispute resolution process administered by J.A.M.S. or another judicial mediation service mutually
acceptable to the parties located in Santa Clara County, California. The dispute resolution process shall involve first, mediation, followed, if necessary, by final and binding arbitration administered by and in accordance with the then existing
rules and practices of J.A.M.S. or other judicial mediation service selected. In the event of any dispute subject to this provision, either party may initiate a request for mediation and the parties shall use reasonable efforts to promptly select a
J.A.M.S. mediator and commence the mediation. In the event the parties are not able to agree on a mediator within thirty (30) days, J.A.M.S. or another judicial mediation service mutually acceptable to the parties shall appoint a mediator. The
mediation shall be confidential and in accordance with California Evidence Code § 1119 et seq. The mediation shall be held in Santa Clara County, California and in accordance with the existing rules and practice of J.A.M.S. (or other judicial
and mediation service selected). The parties shall use reasonable efforts to conclude the mediation within sixty (60) days of the date of either party’s request for mediation. The mediation shall be held prior to any arbitration or court action
(other than a claim by Landlord for unlawful detainer or any claim within the jurisdiction of the small claims court which are not subject to this mediation/arbitration provision and may be filed directly with a court of competent jurisdiction).
Should the prevailing party in any dispute subject to this Section 19.E attempt an arbitration or a court action before attempting to mediate, the prevailing party shall not be entitled to attorney’s fees that might otherwise be available to
them in a court action or arbitration and in addition thereto, the party who is determined by the arbitrator to have resisted mediation, shall be sanctioned by the arbitrator or judge. 
  
 IF A MEDIATION IS CONDUCTED BUT IS UNSUCCESSFUL, IT SHALL BE FOLLOWED BY FINAL AND BINDING ARBITRATION ADMINISTERED BY AND IN ACCORDANCE
WITH THE THEN EXISTING RULES AND PRACTICES OF J.A.M.S. OR THE 

  

 Page 25 

 
OTHER JUDICIAL AND MEDIATION SERVICE SELECTED, AND JUDGMENT UPON ANY AWARD RENDERED BY THE ARBITRATOR(S) MAY BE ENTERED BY ANY STATE OR FEDERAL COURT HAVING
JURISDICTION THEREOF AS PROVIDED BY CALIFORNIA CODE OF CIVIL PROCEDURE SECTION 1280 ET SEQ., AS SAID STATUTES THEN APPEAR, INCLUDING ANY AMENDMENTS TO SAID STATUTES OR SUCCESSORS TO SAID STATUTES OR AMENDED STATUTES, EXCEPT THAT IN NO EVENT SHALL
THE PARTIES BE ENTITLED TO PROPOUND INTERROGATORIES OR REQUEST FOR ADMISSIONS DURING THE ARBITRATION PROCESS. THE ARBITRATOR SHALL BE A RETIRED JUDGE OR A LICENSED CALIFORNIA ATTORNEY. THE VENUE FOR ANY SUCH ARBITRATION OR MEDIATION SHALL BE IN
SANTA CLARA COUNTY, CALIFORNIA. 
  
 NOTICE: BY INITIALING IN THE SPACE BELOW YOU
ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT OF THE MATTERS INCLUDED IN THE “MEDIATION AND ARBITRATION OF DISPUTES” PROVISION DECIDED BY NEUTRAL ARBITRATION AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS
TO HAVE THE DISPUTE LITIGATED IN A COURT OR JURY TRIAL. BY INITIALING IN THE SPACE BELOW YOU ARE GIVING UP YOUR JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS THOSE RIGHTS ARE SPECIFICALLY INCLUDED IN THE “MEDIATION AND ARBITRATION OF
DISPUTES” PROVISION. IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS PROVISION, YOU MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL PROCEDURE. YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS
VOLUNTARY. 
  
 WE HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT
DISPUTES ARISING OUT OF THE MATTERS INCLUDED IN THE “MEDIATION AND ARBITRATION OF DISPUTES” PROVISION TO NEUTRAL ARBITRATION. 
  

									
					
	 LANDLORD:
	 	 /s/ JMS
	 	 	 	TENANT:	 	 /s/ JM, EW

  
 F. Entire
Agreement: This Lease and the exhibits attached hereto contains all of the agreements and conditions made between the Parties hereto and may not be modified orally or in any other manner other than by written agreement signed by all parties
hereto or their respective successors in interest. This Lease supersedes and revokes all previous negotiations, letters of intent, lease proposals, brochures, agreements, representations, promises, warranties, and understandings, whether oral or in
writing, between the parties or their respective representatives or any other person purporting to represent Landlord or Tenant. 
  
 G. Entry by Landlord: Upon prior notice to Tenant and subject to Tenant’s reasonable security regulations, Tenant shall permit Landlord and
his agents to enter into and upon the Premises at all reasonable times, and without any rent abatement or reduction or any liability to Tenant for any loss of occupation or quiet enjoyment of the Premises thereby occasioned, for the following
purposes: (i) inspecting and maintaining the Premises; (ii) making repairs, alterations or additions to the Premises; (iii) erecting additional building(s) 

  

 Page 26 

 
and improvements on the land where the Premises are situated or on adjacent land owned by Landlord; (iv) performing any obligations of Landlord under the
Lease including remediation of Hazardous Materials if determined to be the responsibility of Landlord, (v) posting and keeping posted thereon notices of non responsibility for any construction, alteration or repair thereof, as required or permitted
by any law, and (vi) showing the Premises to Landlord’s or the Master Landlord’s existing or potential successors, purchaser, tenants and lenders. Tenant shall permit Landlord and his agents, at any time within one hundred eighty (180)
days prior to the Expiration Date (or at any time during the Lease if Tenant is in default hereunder), to place upon the Premises “For Lease” signs and exhibit the Premises to real estate brokers and prospective tenants at reasonable
hours. 
  
 H. Estoppel Certificates: At any time during the
Lease Term, Tenant shall, within ten (10) days following written notice from Landlord, execute and deliver to Landlord a written statement certifying, if true, the following: (i) that this Lease is unmodified and in full force and effect (or, if
modified, stating the nature of such modification); (ii) the date to which rent and other charges are paid in advance, if any; (iii) acknowledging that there are not, to Tenant’s knowledge, any uncured defaults on Landlord’s part hereunder
(or specifying such defaults if they are claimed); and (iv) such other information as Landlord may reasonably request. Any such statement may be conclusively relied upon by any prospective purchaser or encumbrancer of Landlord’s interest in the
Premises. Tenant’s failure to deliver such statement within such time shall be conclusive upon the Tenant that this Lease is in full force and effect without modification, except as may be represented by Landlord, and that there are no uncured
defaults in Landlord’s performance. Tenant agrees to provide, within five (5) days of Landlord’s request, Tenant’s most recent three (3) years of audited financial statements for Landlord’s use in financing or sale of the
Premises or Landlord’s interest therein. 
  
 I.
Exhibits: All exhibits referred to are attached to this Lease and incorporated by reference. 
  
 J. Interest: All rent due hereunder, if not paid when due, shall bear interest at the rate of the Reference Rate published by Bank of America, San
Francisco Branch, plus two percent (2%) per annum from that date until paid in full (“Agreed Interest Rate”). This provision shall survive the expiration or sooner termination of the Lease. Despite any other provision of this Lease, the
total liability for interest payments shall not exceed the limits, if any, imposed by the usury laws of the State of California. Any interest paid in excess of those limits shall be refunded to Tenant by application of the amount of excess interest
paid against any sums outstanding in any order that Landlord requires. If the amount of excess interest paid exceeds the sums outstanding, the portion exceeding those sums shall be refunded in cash to Tenant by Landlord. To ascertain whether any
interest payable exceeds the limits imposed, any non-principal payment (including late charges) shall be considered to the extent permitted by law to be an expense or a fee, premium, or penalty rather than interest. 
  
 K. This paragraph intentionally left blank. 
  
 L. No Presumption Against Drafter: Landlord and Tenant understand,
agree and acknowledge that this Lease has been freely negotiated by both Parties; and that in any controversy, dispute, or contest 

  

 Page 27 

 
over the meaning, interpretation, validity, or enforceability of this Lease or any of its terms or conditions, there shall be no inference, presumption, or
conclusion drawn whatsoever against either party by virtue of that party having drafted this Lease or any portion thereof. 
  
 M. Notices: All notices, demands, requests, or consents required to be given under this Lease shall be sent in writing by U.S. certified mail,
return receipt requested, or by personal delivery addressed to the party to be notified at the address for such party specified in Section 1 of this Lease, or to such other place as the party to be notified may from time to time designate by at
least fifteen (15) days prior notice to the notifying party. When this Lease requires service of a notice, that notice shall replace rather than supplement any equivalent or similar statutory notice, including any notices required by Code of Civil
Procedure Section 1161 or any similar or successor statute. When a statute requires service of a notice in a particular manner, service of that notice (or a similar notice required by this Lease) shall replace and satisfy the statutory
service-of-notice procedures, including those required by Code of Civil Procedure Section 1162 or any similar or successor statute. 
  
 N. Property Management: In addition, Tenant agrees to pay Landlord along with the expenses to be reimbursed by Tenant a monthly fee for management
services rendered by either Landlord or a third party manager engaged by Landlord (which may be a party affiliated with Landlord), in the amount of one percent (1%) of the Base Monthly Rent. 
  
 O. Rent: All monetary sums due from Tenant to Landlord under this
Lease, including, without limitation those referred to as “additional rent”, shall be deemed as rent. 
  
 P. Representations: Tenant acknowledges that neither Landlord nor any of its employees or agents have made any agreements, representations,
warranties or promises with respect to the Premises or with respect to present or future rents, expenses, operations, tenancies or any other matter. Except as herein expressly set forth herein, Tenant relied on no statement of Landlord or its
employees or agents for that purpose. 
  
 Q. Rights and
Remedies: Subject to Section 14 above, All rights and remedies hereunder are cumulative and not alternative to the extent permitted by law, and are in addition to all other rights and remedies in law and in equity. 
  
 R. Severability: If any term or provision of this Lease is held
unenforceable or invalid by a court of competent jurisdiction, the remainder of the Lease shall not be invalidated thereby but shall be enforceable in accordance with its terms, omitting the invalid or unenforceable term. 
  
 S. Submission of Lease: Submission of this document for examination or
signature by the parties does not constitute an option or offer to lease the Premises on the terms in this document or a reservation of the Premises in favor of Tenant. This document is not effective as a lease or otherwise until executed and
delivered by both Landlord and Tenant. 
  
 T.
Subordination: This Lease is subject and subordinate to ground and underlying leases, mortgages and deeds of trust (collectively “Encumbrances”) which may now affect the Premises, to any covenants, conditions or restrictions of record,
and to all renewals, modifications, 

  

 Page 28 

 
consolidations, replacements and extensions thereof; provided, however, if the holder or holders of any such Encumbrance (“Holder”) require that
this Lease be prior and superior thereto, within seven (7) days after written request of Landlord to Tenant, Tenant shall execute, have acknowledged and deliver all documents or instruments, in the form presented to Tenant, which Landlord or Holder
deems necessary or desirable for such purposes. Landlord shall have the right to cause this Lease to be and become and remain subject and subordinate to any and all Encumbrances which are now or may hereafter be executed covering the Premises or any
renewals, modifications, consolidations, replacements or extensions thereof, for the full amount of all advances made or to be made thereunder and without regard to the time or character of such advances, together with interest thereon and subject
to all the terms and provisions thereof; provided only, that as a condition to such subordination, in the event of termination of any such lease or upon the foreclosure of any such mortgage or deed of trust, Holder agrees in writing to recognize
Tenant’s rights under this Lease as long as Tenant is not then in default and continues to pay Base Monthly Rent and additional rent and observes and performs all required provisions of this Lease. Within ten (10) days after Landlord’s
written request, Tenant shall execute any documents required by Landlord or the Holder to make this Lease subordinate to any lien of the Encumbrance. If Tenant fails to do so, then in addition to such failure constituting a default by Tenant, it
shall be deemed that this Lease is so subordinated to such Encumbrance. Notwithstanding anything to the contrary in this Section, Tenant hereby attorns and agrees to attorn to any entity purchasing or otherwise acquiring the Premises at any sale or
other proceeding or pursuant to the exercise of any other rights, powers or remedies under such encumbrance. 
  
 Landlord shall cause the existing lender, Union Labor Life Insurance Company, to furnish to Tenant, within forty-five (45) days of the date of both parties’ execution of this Lease, with a written agreement
providing for (i) recognition by the lender of all of the terms and conditions of this Lease; and (ii) continuation of this Lease upon foreclosure of existing lender’s security interest in the Premises. In the event that Landlord is unable to
provide such agreement, Tenant’s sole remedy shall be termination of the Lease, which election shall be made within fourteen (14) days following the expiration of such forty-five (45) day period. 
  
 U. Survival of Indemnities: All indemnification, defense, and hold
harmless obligations of Landlord and Tenant under this Lease shall survive the expiration or sooner termination of the Lease. 
  
 V. Time: Time is of the essence hereunder. 
  
 W. Transportation Demand Management Programs: Should a government agency or municipality require Landlord to institute TDM (Transportation Demand
Management) facilities and/or programs, Tenant agrees that the cost of TDM imposed facilities and programs required on the Premises, including but not limited to employee showers, lockers, cafeteria, or lunchroom facilities, shall be paid by Tenant.
Further, any ongoing costs or expenses associated with a TDM program which are required for the Premises and not provided by Tenant, such as an on-site TDM coordinator, shall be provided by Landlord with such costs being included as additional rent
and reimbursed to Landlord by Tenant within thirty (30) days after demand. If 

  

 Page 29 

 
TDM facilities and programs are instituted on a Project wide basis, Tenant shall pay its proportionate share of such costs in accordance with Section 8
above. 
  
 X. Waiver of Right to Jury Trial: Landlord and
Tenant waive their respective rights to trial by jury of any contract or tort claim, counterclaim, cross-complaint, or cause of action in any action, proceeding, or hearing brought by either party against the other on any matter arising out of or in
any way connected with this Lease, the relationship of Landlord and Tenant, or Tenant’s use or occupancy of the Premises, including any claim of injury or damage or the enforcement of any remedy under any current or future law, statute,
regulation, code, or ordinance. 
  
 20. LEASE GUARANTY: A
material provision of the Lease and a material inducement of Landlord to enter into this Lease is the guaranty of this Lease by Metromedia Fiber Network, Inc. a Delaware Corporation, (“Guarantor”) which is attached hereto as Exhibit
“E” and made a part hereof. 
  

 Page 30 

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease on the day and year first above written. 
  

									
	Landlord: The 1979 Revocable Trust, a California Limited Partnership	 	 	 	Tenant: AboveNet Communications, a Delaware Corporation
					
	 By:
	 	 /s/ John M. Sobrato
	 	 	 	 By:
	 	 /s/ Jeff Monroe

	 Its:
	 	 Trustee
	 	 	 	 Its:
	 	 VP Real Estate

					
	 	 	 	 	 	 	 * By:
	 	 /s/ Ezekiel Wimert

	 	 	 	 	 	 	 Its:
	 	 VP Worldwide Operations

  

	*	NOTE: This lease must be signed by two (2) officers of such corporation: one being the chairman of the board, the president, or a vice president, and the other being the
secretary, an assistant secretary, the chief financial officer or an assistant treasurer. If one (1) individual is signing in two (2) of the foregoing capacities, that individual must sign twice; once as one officer and again as the other officer
and in such event, Tenant must deliver to Landlord a certified copy of a corporate resolution authorizing the signatory to execute this Lease. 

  

  
 FIRST AMENDMENT TO
LEASE 
  
 THIS FIRST AMENDMENT TO LEASE (this “Amendment”) is
entered into as of December 6, 2004 by and between BROKAW INTERESTS, a California limited partnership (“Landlord”) and EQUINIX OPERATING CO., INC., a Delaware corporation, as successor-in-interest to ABOVENET COMMUNICATIONS, INC., a
Delaware corporation (“Tenant”). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to such terms in that certain Lease dated as of December 29, 1999 between Landlord and Tenant (the
“Lease”). 
  
 For good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree that the Lease shall be amended as follows: 
  
 1. Amendments to Lease. Landlord and Tenant hereby agree that the Lease shall be modified as follows: 
  
 1.1 With respect to Section 4.C, Tenant agrees,
notwithstanding anything to the contrary in the Lease, that the cash security deposit of One Million Four Hundred Twenty Seven Thousand and No/100 Dollars ($1,427,000.00) shall not be returned or reduced in amount until the expiration of the Lease.
Within thirty (30) days following the expiration of the Lease, Landlord agrees to return such deposit to Tenant less any amounts Landlord is entitled to deduct pursuant to this Section 4.C. Further Tenant shall have no right to post a letter of
credit in lieu of a cash deposit. 
  
 1.2 The
reference to “one hundred eighty (180) days” in Section 15.B. (i) shall be changed to twelve (12) months. 
  
 1.3 The reference to “twenty-four (24) months” in Section 15.B.(iv) shall be changed to eighteen (18) months. 
  
 1.4 The reference to “one hundred eighty (180)
days” in the last sentence of Section 15.B. shall be changed to twelve (12) months. 
  
 1.5 The second sentence of Section 16 shall be deleted. 
  
 1.6 With respect to Section 17.E., the definition of Permitted Transfer shall be amended to include an
assignment of the Tenant’s entire interest under this Lease or of all or any portion of the Premises to (i) an affiliate, subsidiary, or parent of Equinix, Inc., or a corporation, partnership or other legal entity wholly owned by Equinix, Inc.
(collectively, an “Affiliated Party”), or (ii) a successor to Tenant by acquisition or merger, or by a consolidation or reorganization pursuant to which Tenant ceases to exist as a legal entity (each such party a “Successor
Party”). Simultaneously with any such Permitted Transfer, Tenant’s successor shall sign a form of assumption agreement that is approved in advance by Landlord, which approval shall not be unreasonably withheld, conditioned, or delayed. As
used herein and for so long as Equinix Operating Co., Inc., or its affiliate is the Tenant under the Lease, (A) “parent” shall 

  

 
mean a company which owns a majority of Equinix, Inc.’s voting equity; (B) “subsidiary” shall mean an entity wholly owned by Equinix, Inc. or
a controlling interest in whose voting equity is owned by Equinix, Inc.; and (C) “affiliate” shall mean an entity controlled by, controlling or under common control with Equinix, Inc. 
  
 1.7 Section 18.D. of the Lease shall be deleted with the
effect that the option to extend the Lease under Article 18 shall be available to Tenant and its permitted transferees. 
  
 1.8 Any exercise by Landlord of its rights to enter the Premises pursuant to any provision of the Master Lease, including, without
limitation, Section 19.G., shall be done in a way that does not materially interfere with Tenant’s quiet enjoyment of the Premises. 
  
 1.9 Section 19.G.(iii) shall be deleted. 
  
 1.10 The following language shall be inserted at the end of Section 19.G.(vi): “;provided, however, that with respect to prospective
tenants, such right may only be exercised in the last nine (9) months of the Lease.” 
  
 1.11 Notwithstanding anything to the contrary contained in the Lease, Tenant shall have the right, without the prior written consent of
Landlord being obtained, to subject Tenant’s leasehold estate pursuant to this Lease, and its personal property, equipment, components and trade fixtures, to a leasehold mortgage and/or security agreement to secure financing or other
obligations which Tenant may obtain or incur. In connection with any such leasehold mortgage and/or security agreement or otherwise, Landlord will, within thirty (30) days following receipt of written request therefor, provide to Tenant and
Tenant’s lender(s) an estoppel certificate certifying if true, the following: (i) that the Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification); (ii) the date to which rent and other
charges are paid under the Lease, including the date, if any, to which rent and other charges have been paid in advance; (iii) acknowledging that there are not, to the Landlord’s knowledge, any uncured defaults on the party of the Tenant under
the Lease (or if there are any defaults, identifying the defaults); and (iv) such other information as Tenant or Tenant’s lenders may reasonably request. In addition, Landlord agrees to provide any lender of Tenant who Landlord has been
notified in writing of the requirement with written notice of any defaults by Tenant under the Lease and the same opportunity to cure such defaults as therein provided to Tenant before Landlord exercises its remedies under this Lease, and to provide
Tenant’s lender(s) with a reasonable opportunity to enter upon the Premises for the purpose of removing any property of Tenant which has been pledged as collateral to Tenant’s lender(s) or which has been subjected to any such leasehold
mortgage and/or security agreement. Notwithstanding anything to the contrary set forth above any such leasehold mortgage and/or security agreement shall be subject and subordinate to the Landlord’s rights under the Lease and any rights of
reentry or reversion of Tenant’s predecessor in interest. 
  
 1.12 Within ten (10) days after Tenant’s written request, Landlord and Tenant shall execute and record a Memorandum of Lease in a form reasonably acceptable to Tenant and Landlord. After the Lease terminates,
within ten (10) days after Landlord’s request, Tenant shall 

  

 2 

 
deliver to Landlord an executed quit claim in form reasonably acceptable to Landlord and Tenant to remove the Memorandum of Lease from title to the Premises.

  
 1.13 In the event that Tenant defaults in any
of its obligations under the Lease, Landlord agrees that it will simultaneous with giving notice thereof to the Tenant, as and to the extent required by the Lease, provide written notice thereof to AboveNet Communications, Inc.
(“AboveNet”), at 360 Hamilton Avenue, White Plains, New York 10601, Attention: President, with a copy to the same address Attention: General Counsel, accept a cure of any such default from AboveNet and shall, to the extent provided in the
Assignment and Assumption of Lease between Tenant and AboveNet, allow AboveNet the right of reentry in the Premises and allow the Lease to be reassigned to AboveNet, without the requirement of any Landlord consent, and, in the event of such
reassignment, recognize AboveNet as the Tenant thereunder. 
  
 2.
Terms. Capitalized terms used herein but not defined herein shall have the meanings specified in the Lease. 
  
 3. Effect of Amendment. As modified by this Amendment, the Lease shall remain in full force and effect and is hereby ratified and confirmed. All
references to the Lease herein shall mean the Lease (as defined above) as modified by this Amendment. The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Landlord or Tenant nor
constitute a waiver of any provision of the Lease. 
  
 4.
Neutral Construction. This Amendment is the product of negotiation among the parties hereto and represents the jointly conceived, bargained-for and agreed upon language mutually determined by the parties to express their intentions in
executing and delivering this Amendment. Any ambiguity or uncertainty in this Amendment shall equally be deemed to be caused by, or attributable to, the parties hereto collectively. This Amendment shall be construed in a neutral manner in any action
or proceeding to enforce or interpret it, and no term or condition hereof shall be construed more or less favorably to any one party. 
  
 5. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all of which taken
together shall constitute one and the same instrument. The signature page and acknowledgment of any counterpart may be removed therefrom and attached to any other counterpart to evidence execution thereof by all of the parties hereto without
affecting the validity thereof. 
  
 [signatures appear on next
page] 
  

 3 

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment effective as of the date first
written above. 
  

			
	 LANDLORD

	
	 BROKAW INTERESTS
 a California limited
partnership

		
	 By:
	 	 /s/ John M. Sobrato

	 Name:
	 	 John M. Sobrato

	 Title:
	 	 General Partner

	
	 TENANT

	
	 EQUINIX OPERATING CO., INC.,
 a Delaware corporation

		
	 By:
	 	 /s/ Renee F. Lanam

	 Name:
	 	 Renee Lanam

	 Title:
	 	 Chief Financial Officer

  
 The undersigned, as
predecessor-in-interest to Tenant under the Lease, hereby consents to this Amendment to Lease and hereby agrees that this Amendment shall not release the undersigned from any liability that it may have under the Lease. 
  

			
	
	 ABOVENET COMMUNICATIONS., INC.,
 a Delaware
corporation

		
	 By:
	 	 /s/ Robert Sokota

	 Name:
	 	 Robert Sokota

	 Title:
	 	 SVP & General CounselLoan and Security Agreement

 Exhibit 10.110 
  
 CONFIDENTIAL TREATMENT REQUESTED 
 CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE 
 SECURITIES EXCHANGE COMMISSION.

  
 LOAN AND SECURITY AGREEMENT 
  
 THIS LOAN AND
SECURITY AGREEMENT (as amended, restated, or otherwise modified from time to time, this “Agreement”) dated the Effective Date, between SILICON
VALLEY BANK (“Bank”) and EQUINIX, INC., a Delaware corporation, whose address is 301 Velocity Way, 5th Floor, Foster City, California 94404
(“Borrower”), provides the terms on which Bank will lend to Borrower, and Borrower will repay Bank. 
  

	1.	ACCOUNTING AND OTHER TERMS 

  
 Accounting terms not defined in this Agreement shall be construed following GAAP. Calculations and determinations must be made following GAAP. The term
“financial statements” includes the notes and schedules. The terms “including” and “includes” always mean “including (or includes) without limitation,” in this or any Loan Document. Capitalized terms in this
Agreement shall have the meanings as set forth in Section 13. All other terms contained in this Agreement, unless otherwise indicated, shall have the meanings provided by the Code, to the extent such terms are defined therein. 
  

	2.	LOAN AND TERMS OF PAYMENT 

  
 2.1 Promise to Pay. 
  
 Borrower hereby unconditionally promises to pay Bank the unpaid principal amount of all Credit Extensions hereunder with all interest, fees, and finance
charges due thereon as and when due in accordance with this Agreement. 
  
 2.1.1 Revolving Advances. 
  
 (a) Subject to the terms and conditions hereof, Bank shall make Advances to Borrower from time to time until the Revolving Maturity Date not exceeding the Committed Revolving Line minus the Sublimit
Utilization Amount. Until the Revolving Maturity Date and subject to the terms hereof and the applicable terms and conditions precedent in Sections 3.1 and 3.2, Borrower may borrow, repay, and reborrow under this Section 2.1.1.
The proceeds of the Advances shall be used solely for working capital purposes. 
  
 (b) Interest on each Advance shall be paid pursuant to the terms of Section 2.4(c). The outstanding principal amount of and
all accrued but unpaid interest on the Advances shall be due and payable on the Revolving Maturity Date, except as otherwise set forth in Section 2.5. 
  

(c) To obtain an Advance, Borrower must follow the procedures set forth in Section 3.3. 
  

 2.1.2 Letters of Credit Sublimit. 
  
 Bank will issue letters of credit (“Letters of
Credit”) for Borrower’s account not exceeding the Committed Revolving Line minus the sum of (a) all amounts for services utilized under the Cash Management Services Sublimit, (b) the FX Reserve, and (c) the sum of the
outstanding principal balance of the Advances. Each Letter of Credit will have an expiry date of no later than 180 days after the Revolving Maturity Date. Borrower’s reimbursement obligation with respect to any Letter of Credit with an expiry
date later than the Revolving Maturity Date will be secured by cash on terms reasonably acceptable to Bank on or before the Revolving Maturity Date if the term of this Agreement is not extended by Bank. Borrower agrees to execute any further
documentation in connection with the Letters of Credit as Bank may reasonably request. 
  
 2.1.3 FX Forward Contracts. 
  
 If there is availability under the Committed Revolving Line, then Borrower may enter into foreign exchange forward contracts with the Bank under which
Borrower commits to purchase from or sell to Bank a set amount of foreign currency more than one business day after the contract date (the “FX Forward Contract”). Bank will subtract ten percent (10%) of each outstanding FX
Forward Contract from the foreign exchange sublimit (the “FX Reserve”). The foreign exchange sublimit shall be the Committed Revolving Line minus the sum of (a) all amounts for services utilized under the Cash
Management Services Sublimit, (b) the amount of all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit), and (c) the sum of the outstanding principal balance of the Advances. The total FX Forward Contracts at any one
time may not exceed ten (10) times the amount of the FX Reserve. 
  
 2.1.4 Cash Management Services. 
  
 Borrower may use amounts up to the Committed Revolving Line minus the sum of (a) the amount of all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit), (b) the FX Reserve, and (c) the sum of the outstanding
principal balance of the Advances (the “Cash Management Services Sublimit”) for Bank’s Cash Management Services, which may include merchant services, direct deposit of payroll, business credit card, and check cashing
services identified in various cash management services agreements related to such services, including automated clearing house and electronic funds transfer services (the “Cash Management Services”). Such aggregate amounts
utilized under the Cash Management Services Sublimit will at all times reduce the amount otherwise available to be borrowed under the Committed Revolving Line. Any amounts Bank pays on behalf of Borrower or any amounts that are not paid by Borrower
when due for any Cash Management Services will be treated as Prime Rate Advances under the Committed Revolving Line and will accrue interest at the rate for Prime Rate Advances. 
  
 2.2 Suspension and Termination of Commitment to Lend; Termination of this Agreement. 
  
 Bank shall have no obligation to make Credit Extensions (a) upon the
occurrence and during the continuance of an Event of Default or if there exists any event, condition, or act which 

  

 2 

 
with notice or lapse of time, or both, would constitute an Event of Default or (b) upon the occurrence of any Change in Control of Borrower. Bank’s
obligation to make Credit Extensions shall terminate on the Revolving Maturity Date. Borrower may, upon five (5) Business Days’ prior written notice to Bank, irrevocably terminate this Agreement provided that all Obligations have been paid in
full and no Letters of Credit remain outstanding (other than Letters of Credit that have been secured by cash on terms acceptable to Bank) as of the effective date of such termination. 
  
 2.3 Overadvances. 
  
 If, at any time Borrower’s aggregate obligations under Sections 2.1.1, 2.1.2, 2.1.3, and 2.1.4, exceed the Committed Revolving Line,
Borrower must, after written notice from Bank, immediately pay Bank the excess. 
  
 2.4 Interest Rates. 
  
 (a) During the Revolving Period, Borrower shall pay interest on the Advances (other than Advances with respect to which Borrower has selected the Term Loan Option) at the following rates: (i) the greater of (A)
the Prime Rate and (B) four percent (4.00%) per annum, or (ii) at the election of Borrower, Adjusted LIBOR plus the Applicable Revolver LIBOR Margin per annum. 
  
 (b) If Borrower has selected the Term Loan Option, then, commencing on the Term Loan Option Date,
Borrower shall pay interest on Advances with respect to which Borrower has selected the Term Loan Option at the following rates: (i) the Prime Rate per annum or (ii) at the election of Borrower, Adjusted LIBOR plus the Applicable Term LIBOR
Margin per annum. 
  
 The Applicable Margins are as follows:

  

							
	 Applicable Margin

	  	Initial
Margin

	 	 	Margin during
Covenant
Level 2

	 
	 Applicable Revolver LIBOR Margin
	  	2.00	%	 	1.75	%
	 Applicable Term LIBOR Margin
	  	2.25	%	 	2.00	%

  
 (c)
Pursuant to the terms of Section 3.7, interest on each Advance shall be paid in arrears on each Interest Payment Date. Interest shall also be paid on the date of any prepayment of any Advance pursuant to this Agreement for the portion of
any Advance so prepaid and upon payment (including prepayment) in full thereof. 
  
 (d) After an Event of Default occurs and so long as such Event of Default continues, including after an acceleration of the
Obligations pursuant to Section 9.1(a) (whether before or after entry of judgment to the extent permitted by law), Obligations shall accrue interest at two percent (2.00%) above the rate effective immediately before the Event of Default;
provided, however, that on and after the expiration of any Interest Period applicable to 

  

 3 

 
any LIBOR Advance outstanding on the date of occurrence of such Event of Default or acceleration, the Effective Amount of such LIBOR Advance shall, during
the continuance of such Event of Default or after acceleration, bear interest at a rate per annum equal to the Prime Rate plus two percent (2.00%). Payment or acceptance of the increased interest provided in this Section 2.4(d) is not a
permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Bank. 
  
 2.5 Term Loan Option. 
  
 (a) To select the Term Loan Option, no less than five (5) calendar days prior to the Term Loan Option Date, Borrower shall
complete, execute, and deliver to Bank an election notice substantially in the form attached hereto as Exhibit A. 
  
 (b) If Borrower selects the Term Loan Option, the Advances chosen to continue under such Term Loan Option are payable in eight (8)
equal quarterly installments of principal plus accrued interest, beginning on the First Installment Payment Date and ending on the Term Loan Maturity Date. In addition, Borrower may prepay, without penalty or premium, all or any portion of the
Advances chosen to be continued under the Term Loan Option. Prepayments of Advances under the Term Loan Option will be applied to payments due in the inverse order of their maturity. When repaid or prepaid, Advances chosen to be continued by
Borrower under the Term Loan Option may not be reborrowed. 
  
 2.6 General Provisions. 
  
 Bank may debit any of
Borrower’s deposit accounts maintained with Bank for principal and interest payments due and owing or any amounts Borrower owes Bank pursuant to the Loan Documents which are then due and owing, including the Designated Deposit Account. These
debits are not a set-off. Payments received after 12:00 noon (Pacific time) are considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment is due the next Business
Day and additional fees or interest accrue. 
  
 2.7 Fees.

  
 Borrower shall pay to Bank: 
  
 (a) all documented Bank Expenses incurred through and
after the Effective Date, when due (including (i) reasonable attorneys’ fees and expenses incurred in connection with the documentation, negotiation, execution, and delivery of the Loan Documents associated with the initial Credit Extension,
which shall not exceed $30,000 unless otherwise agreed by Borrower and which shall be due and payable on the Effective Date, and (ii) fees and expenses relating to Bank’s initial field examination of Borrower, which fees and expenses shall not
exceed $5,000, unless otherwise agreed by Borrower); and 
  
 (b) on the Effective Date, a fully-earned loan fee (the “Loan Fee”) equal to $95,000. If Borrower fails to maintain an average of $25,000,000 on deposit with Bank for the 12 months
following the Effective Date, then Borrower shall pay to Bank on the earlier to occur of the first anniversary of the Effective Date or the date this Agreement terminates, an 

  

 4 

 
additional loan fee equal to the product of $82.19 multiplied by the number of days that Borrower failed to maintain $25,000,000 on deposit with Bank during
such period; and 
  
 (c) as additional
compensation for Bank’s Revolving Loan Commitment, in arrears, on the first Business Day of each quarter prior to the Revolving Maturity Date and on the Revolving Maturity Date, a fee for Borrower’s non-use of available funds in an amount
equal to 0.20% multiplied by the difference between (i) the Revolving Loan Commitment and (ii) the sum of (A) the daily average of the closing balance of the aggregate Advances outstanding during the period for which such fee is due (any
period, a “Usage Period”), plus, (B) the daily average of the face amount of all Letters of Credit issued for the account of Borrower outstanding during such Usage Period, plus, (C) the daily average of the FX Reserve during
such Usage Period, plus, (D) the daily average of the amount of all Cash Management Services utilized by Borrower during such Usage Period. 
  
 2.8 Mandatory Prepayment Event. 
  
 Concurrently with the occurrence of any Change in Control of Borrower, Borrower shall prepay in full, without penalty or premium, all outstanding
Obligations and shall post cash collateral, upon terms reasonably acceptable to Bank, in the face amount of any undrawn Letters of Credit. 
  

	3.	CONDITIONS OF CREDIT EXTENSIONS 

  
 3.1 Conditions Precedent to Initial Credit Extension. 
  
 Bank’s obligation to make the initial Credit Extension is subject to the condition precedent that the following have been satisfied, all in form and
substance reasonably satisfactory to Bank: 
  
 (a) the parties shall have executed and delivered the Loan Documents; 
  
 (b) Borrower shall have delivered executed one or more Control Agreement(s), in form and substance satisfactory to Bank, by and
among Borrower, Bank, and such banks or financial institutions as is necessary for Bank to perfect its security interest in the Domestic Collateral Accounts; 
  

(c) Borrower shall have delivered its Operating Documents and a good standing certificate of Borrower from the Secretary of
State of Borrower’s jurisdiction of formation; 
  
 (d) Borrower shall have delivered a copy of the resolutions of its Board of Directors certified to be a true and correct copy by its secretary or other authorized officer, together with incumbency information and specimen signatures;

  
 (e) Bank shall have received the
certificates of insurance described in Section 6.5 hereof; 
  

 5 

 (f) Subject to the limitations set forth in Section 2.7, Borrower shall
have paid all documented and invoiced costs and fees, including Bank Expenses, then due; and 
  
 (g) Borrower shall have delivered to Bank, in addition to the documents required in Sections 3.2 and 3.3, all
documents, certificates, and other assurances that Bank or its counsel may reasonably request. 
  
 3.2 Conditions Precedent to all Credit Extensions. 
  
 Bank’s obligation to make each Credit Extension, including the initial Credit Extension, is subject to the following: 
  
 (a) timely receipt of a Notice of Borrowing in the form attached as Exhibit B; and 
  
 (b) the representations and warranties in Section
5 shall be true, accurate and complete on the date of the Notice of Borrowing and on the Funding Date, and no Event of Default shall have occurred and be continuing, or result from, an Advance and/or Credit Extension; provided,
however, that those representations and warranties expressly referring to a date other than the Funding Date are true, accurate and complete as of such date; and provided, further, that the representations and warranties set
forth in Section 5 shall be deemed to be made with respect to the financial statements most recently delivered to the Bank pursuant to Section 6.2. Borrower’s receipt of an Advance is Borrower’s representation and warranty on
that date that the representations and warranties in Section 5 remain true, accurate and complete, subject to the provisos set forth in the preceding sentence. 
  
 3.3 Procedure for the Borrowing of Advances. 
  
 (a) Subject to the prior satisfaction of all other applicable conditions to the making of an Advance
set forth in this Agreement, including Section 3.1 and Section 3.2 for Advances made on the Effective Date and Section 3.2 for all Advances, each Advance shall be made upon Borrower’s irrevocable written notice delivered to
Bank in the form of a Notice of Borrowing, each executed by a Responsible Officer of Borrower or his or her designee or without instructions if the Advances are necessary to meet Obligations which have become due. Bank may rely on any telephone
notice given by a person whom Bank believes is a Responsible Officer or designee. Borrower will indemnify Bank for any loss Bank suffers due to such reliance (other than losses resulting from Bank’s gross negligence or willful misconduct). Such
Notice of Borrowing must be received by Bank prior to 12:00 noon(Pacific time), (i) at least three (3) Business Days prior to the requested Funding Date, in the case of LIBOR Advances, and (ii) at least one (1) Business Day prior to the requested
Funding Date, in the case of Prime Rate Advances, specifying: 
  
 (i) the amount of the Advance, which, if a LIBOR Advance is requested, shall be in an aggregate minimum principal amount of $1,000,000 or in any integral multiple of $100,000 in excess thereof; 
  
 (ii) the requested Funding Date, which shall be a
Business Day; 
  

 6 

 (iii) whether the Advance is to be comprised of LIBOR Advances or Prime Rate
Advances; and 
  
 (iv) the duration of the
Interest Period applicable to any such LIBOR Advances included in such notice; provided that if the Notice of Borrowing shall fail to specify the duration of the Interest Period for any Advance comprised of LIBOR Advances, such Interest Period shall
be one (1) month. 
  
 (b) The proceeds of
all such Advances will then be made available to Borrower on the Funding Date by Bank by transfer to the Designated Deposit Account. 
  
 3.4 Conversion and Continuation Elections. 
  
 (a) So long as (1) no Event of Default or event which with notice, passage of time, or both would constitute an Event of Default
exists; (2) no party hereto shall have sent any notice of termination of this Agreement; and (3) Borrower shall have complied with such customary procedures as Bank has established from time to time for Borrower’s requests for LIBOR Advances,
Borrower may, upon irrevocable written notice to Bank: 
  
 (i) elect to convert on any Business Day, Prime Rate Advances in an amount equal to $1,000,000 or any integral multiple of $100,000 in excess thereof into LIBOR Advances; 
  
 (ii) elect to continue on any Interest Payment Date any LIBOR Advances maturing on such Interest
Payment Date (or any part thereof in an amount equal to $1,000,000 or any integral multiple of $100,000 in excess thereof); provided, that if the aggregate amount of LIBOR Advances shall have been reduced, by payment, prepayment, or
conversion of part thereof, to be less than $1,000,000, such LIBOR Advances shall automatically convert into Prime Rate Advances; or 
  
 (iii) elect to convert on any Interest Payment Date any LIBOR Advances maturing on such Interest Payment Date (or any part thereof
in an amount equal to $1,000,000 or any integral multiple of $100,000 in excess thereof) into Prime Rate Advances. 
  
 (b) Borrower shall deliver a Notice of Conversion/Continuation substantially in the form attached hereto as Exhibit C to be
received by Bank prior to 11:00 a.m. (Pacific time) at least (i) three (3) Business Days in advance of the Conversion Date or Continuation Date, if any Advances are to be converted into or continued as LIBOR Advances; and (ii) one (1) Business Day
in advance of the Conversion Date, if any Advances are to be converted into Prime Rate Advances, in each case specifying: 
  
 (i) the proposed Conversion Date or Continuation Date; 
  
 (ii) the aggregate amount of the Advances to be converted or continued which, if any Advances are to
be converted into or continued as LIBOR Advances, shall be in an aggregate minimum principal amount of $1,000,000 or in any integral multiple of $100,000 in excess thereof; 
  

 7 

 (iii) whether a conversion or a continuation is proposed; and 
  
 (iv) the duration of the requested Interest Period.

  
 (c) If upon the expiration of any
Interest Period applicable to any LIBOR Advances, Borrower shall have timely failed to select a new Interest Period to be applicable to such LIBOR Advances, Borrower shall be deemed to have elected to convert such LIBOR Advances into Prime Rate
Advances. 
  
 (d) Any LIBOR Advances
shall, at Bank’s option, convert into Prime Rate Advances in the event that (i) an Event of Default, or event which with notice, the passage of time, or both would constitute an Event of Default, shall exist, (ii) the Agreement shall terminate,
or (iii) the aggregate principal amount of the Prime Rate Advances which have been previously converted to LIBOR Advances, or the aggregate principal amount of existing LIBOR Advances continued, as the case may be, at the beginning of an Interest
Period shall at any time during such Interest Period exceed the Committed Revolving Line. Borrower agrees to pay Bank, upon demand by Bank (or Bank may, at its option, charge the Designated Deposit Account or any other account Borrower maintains
with Bank) any amounts required to compensate Bank for any loss (including loss of anticipated profits), cost, or expense incurred by Bank, as a result of the conversion of LIBOR Advances to Prime Rate Advances pursuant to any of the foregoing.
Concurrently with any demand for compensation under this Section 3.4(d), Bank will furnish Borrower with a statement setting forth the basis and amount of such request by Bank for such compensation. Determinations by Bank for purposes of this
Section 3.4(d) of the amounts required to compensate Bank in respect of any loss, costs or expense incurred by Bank as a result of the conversion of LIBOR Advances to Prime Rate Advances pursuant to the circumstances set forth in Sections
3.4(d)(i)-(iii) shall be conclusive absent manifest error. 
  
 (e) Notwithstanding anything to the contrary contained herein, Bank shall not be required to purchase United States Dollar deposits in the London interbank market or other applicable LIBOR market to fund any
LIBOR Advances, but the provisions hereof shall be deemed to apply as if Bank had purchased such deposits to fund the LIBOR Advances. 
  
 3.5 Special Provisions Governing LIBOR Advances. 
  
 Notwithstanding any other provision of this Agreement to the contrary, the following provisions shall govern with respect to LIBOR Advances as to the
matters covered: 
  
 (a) Determination
of Applicable Interest Rate. As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest
rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower. 
  
 (b) Inability to Determine Applicable Interest
Rate. In the event that Bank shall have determined (which determination shall be final and conclusive and binding upon all parties hereto), on any Interest Rate Determination Date with respect to any LIBOR Advance, that by reason of
circumstances affecting the London interbank market adequate and 

  

 8 

 
fair means do not exist for ascertaining the interest rate applicable to such Advance on the basis provided for in the definition of LIBOR, Bank shall on
such date give notice (by telefacsimile or by telephone confirmed in writing) to Borrower of such determination, whereupon (i) no Advances may be made as, or converted to, LIBOR Advances until such time as Bank notifies Borrower that the
circumstances giving rise to such notice no longer exist, and (ii) any Notice of Borrowing or Notice of Conversion/Continuation given by Borrower with respect to Advances in respect of which such determination was made shall be deemed to be
rescinded by Borrower and, with respect to a Notice of Conversion/Continuation, be deemed a request to convert or continue Advances referred to therein as Prime Rate Advances. 
  
 (c) Compensation for Breakage or Non-Commencement of Interest Periods. Borrower shall
compensate Bank, upon written request by Bank (which request shall set forth the manner and method of computing such compensation), for all reasonable losses, expenses and liabilities, if any (including any interest paid by Bank to lenders of funds
borrowed by it to make or carry its LIBOR Advances and any loss, expense or liability incurred by Bank in connection with the liquidation or re-employment of such funds) such that Bank may incur: (i) if for any reason (other than a default by Bank
or due to any failure of Bank to fund LIBOR Advances due to illegality under Section 3.6(e) or impracticability under Section 3.6(d)) a borrowing or a conversion to or continuation of any LIBOR Advance does not occur on a date
specified in a Notice of Borrowing or a Notice of Conversion/Continuation, as the case may be, or (ii) if any principal payment or any conversion of any of its LIBOR Advances occurs on a date prior to the last day of an Interest Period applicable to
that Advance. 
  
 Concurrently with any demand for compensation
under this Section 3.5(c), Bank will furnish Borrower with a statement setting forth the basis and amount of such request by Bank for such compensation. Determinations by Bank for purposes of this Section 3.5(c) of the amounts required
to compensate Bank in respect of any loss, expense or liability incurred by Bank as a result of the circumstances set forth in Sections 3.5(c)(i)-(ii) shall be conclusive absent manifest error. 
  
 (d) Assumptions Concerning Funding of LIBOR
Advances. Calculation of all amounts payable to Bank under this Section 3.5 and under Section 3.3 shall be made as though Bank had actually funded each of its relevant LIBOR Advances through the purchase of a Eurodollar deposit
bearing interest at the rate obtained pursuant to the definition of LIBOR Rate in an amount equal to the amount of such LIBOR Advance and having a maturity comparable to the relevant Interest Period; provided, however, that Bank may
fund each of its LIBOR Advances in any manner it sees fit and the foregoing assumptions shall be utilized only for the purposes of calculating amounts payable under this Section 3.5 and under Section 3.3. 
  
 (e) LIBOR Advances After Event of Default.
After the occurrence of and during the continuation of an Event of Default, (i) Borrower may not elect to have an Advance be made or continued as, or converted to, a LIBOR Advance after the expiration of any Interest Period then in effect for such
Advance, and (ii) subject to the provisions of Section 3.5(c), any Notice of Conversion/Continuation given by Borrower with respect to a requested conversion/continuation that has not yet occurred shall be deemed to be rescinded by Borrower
and be deemed a request to convert or continue Advances referred to therein as Prime Rate Advances. 
  

 9 

 3.6 Additional Requirements/Provisions Regarding LIBOR Advances. 
  
 (a) If for any reason (including voluntary or
mandatory prepayment or acceleration), Bank receives all or part of the principal amount of a LIBOR Advance prior to the last day of the Interest Period for such Advance, Borrower shall immediately notify Borrower’s account officer at Bank and,
within fifteen (15) days after written demand by Bank, pay Bank the amount (if any) by which (i) the additional interest which would have been payable on the amount so received had it not been received until the last day of such Interest Period
exceeds (ii) the interest which would have been recoverable by Bank by placing the amount so received on deposit in the certificate of deposit markets, the offshore currency markets, or United States Treasury investment products, as the case may be,
for a period starting on the date on which it was so received and ending on the last day of such Interest Period at the interest rate determined by Bank in its reasonable discretion. Bank’s determination as to such amount shall be conclusive
absent manifest error. 
  
 (b) Borrower
shall pay Bank, within fifteen (15) days after written demand by Bank, from time to time such amounts as Bank may determine to be necessary to compensate it for any costs incurred by Bank that Bank determines are attributable to its making or
maintaining of any amount receivable by Bank hereunder in respect of any Advances relating thereto (such increases in costs and reductions in amounts receivable being herein called “Additional Costs”), in each case resulting
from any Regulatory Change which: 
  
 (i)
changes the basis of taxation of any amounts payable to Bank under this Agreement in respect of any Advances (other than changes which affect taxes measured by or imposed on the overall net income or capital of Bank by the jurisdiction in which
Bank has its principal office); 
  
 (ii)
imposes or modifies any reserve, special deposit or similar requirements relating to any extensions of credit or other assets of, or any deposits with, or other liabilities of Bank (including any Advances or any deposits referred to in the
definition of LIBOR); or 
  
 (iii) imposes
any direct costs on Bank in respect of any Advances. 
  
 Bank will
notify Borrower of any event occurring after the Effective Date which will entitle Bank to compensation pursuant to this Section 3.6(b) as promptly as practicable after it obtains knowledge thereof and determines to request such compensation.
Concurrently with any demand for compensation under this Section 3.6(b), Bank will furnish Borrower with a statement setting forth the basis and amount of such request by Bank for such compensation. Determinations and allocations by Bank for
purposes of this Section 3.6(b) of the effect of any Regulatory Change on its costs of maintaining its obligations to make Advances, of making or maintaining Advances, or on amounts receivable by it in respect of Advances, and of the
additional amounts required to compensate Bank in respect of any Additional Costs, shall be conclusive absent manifest error. 
  

 10 

 (c) If Bank shall determine that the adoption or implementation of any applicable
law, rule, regulation, or treaty regarding capital adequacy, or any change therein, or any change in the interpretation or administration thereof by any governmental authority, central bank, or comparable agency charged with the interpretation or
administration thereof, or compliance by Bank (or its applicable lending office) with any respect or directive regarding capital adequacy (whether or not having the force of law) of any such authority, central bank, or comparable agency, has or
would have the effect of reducing the rate of return on capital of Bank or any person or entity controlling Bank (a “Parent”) as a consequence of its obligations hereunder to a level below that which Bank (or its Parent)
could have achieved but for such adoption, change, or compliance (taking into consideration policies with respect to capital adequacy) by an amount deemed by Bank to be material, then from time to time, within fifteen (15) days after written demand
by Bank, Borrower shall pay to Bank such additional amount or amounts as will compensate Bank for such reduction. Concurrently with any demand for compensation under this Section 3.6(c), Bank will furnish Borrower with a statement setting
forth the basis and amount of such request by Bank for such compensation, which statement shall be conclusive absent manifest error. 
  
 (d) If, at any time, (i) the amount of LIBOR Advances for periods equal to the corresponding Interest Periods is not available to
Bank in the offshore currency interbank markets, or (ii) LIBOR does not accurately reflect the cost to Bank of lending the LIBOR Advances, then Bank shall promptly give notice thereof to Borrower. Upon the giving of such notice, Bank’s
obligation to make the LIBOR Advances shall terminate. 
  
 (e) If it shall become unlawful for Bank to continue to fund or maintain any LIBOR Advances, or to perform its obligations hereunder, upon demand by Bank, Borrower shall prepay the Advances in full with accrued interest thereon and
all other amounts payable by Borrower hereunder (including, without limitation, any amount payable in connection with such prepayment pursuant to Section 3.6(a)). Notwithstanding the foregoing, to the extent a determination by Bank as
described above relates to a LIBOR Advance then being requested by Borrower pursuant to a Notice of Borrowing or a Notice of Conversion/Continuation, Borrower shall have the option, subject to the provisions of Section 3.5(c), to (i) rescind
such Notice of Borrowing or Notice of Conversion/Continuation by giving notice (by telefacsimile or by telephone confirmed in writing) to Bank of such rescission on the date on which Bank gives notice of its determination as described above, or (ii)
modify such Notice of Borrowing or Notice of Conversion/Continuation to obtain a Prime Rate Advance or to have outstanding Advances converted into or continued as Prime Rate Advances by giving notice (by telefacsimile or by telephone confirmed in
writing) to Bank of such modification on the date on which Bank gives notice of its determination as described above. 
  
 (f) Failure or delay on the part of Bank to demand compensation pursuant to the provisions of Sections 3.6(b) or
3.6(c) shall not constitute a waiver of Bank’s right to demand such compensation, provided that Borrower shall not be required to compensate Bank pursuant to the provisions of Sections 3.6(b) or 3.6(c) for any costs
incurred or reductions suffered more than 90 days prior to the date that Bank notifies Borrower of the Regulatory Change giving rise to such increased costs or reductions and of Bank’s intention to claim compensation therefor. 
  

 11 

 3.7 Calculation of Interest and Fees. 
  
 Interest on the Advances and all fees payable hereunder shall be computed on
the basis of a 360-day year and the actual number of days elapsed (other than Prime Rate Advances, which shall be computed on the basis of a 365-day year and the actual number of days elapsed) in the period during which such interest accrues. In
computing interest on any Advance, the date of the making of such Advance shall be included and the date of payment shall be excluded; provided, however, that if any Advance is repaid on the same day on which it is made, such day shall be
included in computing interest on such Advance. 
  
 (a) Prime Rate Advances. Each change in the interest rate of the Prime Rate Advances based on changes in the Prime Rate shall be effective on the effective date of such change and to the extent of such change. Interest on
Prime Rate Advances is payable quarterly by debit to the Designated Deposit Account on each Interest Payment Date. 
  
 (b) LIBOR Advances. The interest rate applicable to each LIBOR Advance shall be determined in accordance with Section
3.5(a) hereunder. Subject to Sections 3.5 and 3.6, such rate shall apply during the entire Interest Period applicable to such LIBOR Advance, and interest calculated thereon shall be payable on the Interest Payment Date applicable
to such LIBOR Advance. 
  

	4.	CREATION OF SECURITY INTEREST 

  
 4.1 Grant of Security Interest. 
  
 Borrower hereby grants Bank, to secure the payment and performance in full of all of the Obligations and the performance of each of Borrower’s duties
under the Loan Documents, a continuing security interest in the Collateral and all proceeds and products thereof. Borrower warrants and represents that the security interest granted herein shall be a perfected first priority security interest in the
Filing Collateral (which security interest shall be perfected by the filing of any financing statements required by the Code) and in the Domestic Collateral Accounts (which security interest shall be perfected by “control” pursuant to
Section 9104 or Section 9106 of the Code, as applicable), subject only to Permitted Liens. 
  
 Borrower agrees that any disposition of the Collateral in violation of this Agreement, by either Borrower or any other Person, shall be deemed to violate the rights of Bank under the Code. If the Agreement is
terminated, Bank’s lien and security interest in the Collateral shall continue until Borrower fully satisfies its Obligations. If Borrower shall at any time, file a commercial tort claim in any court where the amount of damages claimed exceeds
$500,000, Borrower shall promptly notify Bank in a writing signed by Borrower of the brief details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such
writing to be in form and substance reasonably satisfactory to Bank. 
  
 Once the Obligations have been indefeasibly paid in full (other than inchoate indemnity obligations) or otherwise performed in full and Bank’s obligations to provide Credit Extensions hereunder have terminated, (i) Bank’s security
interest in the Collateral shall automatically terminate, (ii) all rights to the Collateral shall automatically revert to Borrower and (iii) Bank 

  

 12 

 
shall promptly return any pledged Collateral to Borrower, or to the Person or Persons legally entitled thereto, and shall promptly endorse, execute, deliver,
record and file all financing statements, instruments and documents, and do all other acts and things, reasonably required for the return of the Collateral to Borrower, or to the Person or Persons legally entitled thereto, and to evidence or
document the release and termination of Bank’s interests arising under this Agreement, all as reasonably requested by, and at the expense of, Borrower. Bank’s Lien on any Collateral sold or otherwise transferred by Borrower in a
transaction which is not a Default or Event of Default under this Agreement shall terminate effective upon such sale or other transfer. Upon such termination or Bank’s release of any Collateral prior to indefeasible payment or performance in
full of the Obligations, Bank shall execute and deliver to Borrower (or to a party designated by Borrower) such documents as may be appropriate to confirm such termination or release, including documents necessary to terminate financing statements
or to evidence the release (or partial release) of Collateral under financing statements filed under the Code. 
  
 4.2 Authorization to File Financing Statements. 
  
 Borrower hereby authorizes Bank to file financing statements with all appropriate jurisdictions, to perfect or protect Bank’s interest or rights
hereunder. 
  

	5.	REPRESENTATIONS AND WARRANTIES 

  
 Borrower represents and warrants as follows: 
  
 5.1 Due Organization and Authorization. 
  
 Borrower and each Subsidiary is duly existing and, in any jurisdiction in which such legal concept is applicable, in good standing in its jurisdiction of
organization and is qualified and licensed to do business in, and, in any jurisdiction in which such legal concept is applicable, is in good standing in, any jurisdiction in which the conduct of its business or its ownership of property requires
that it be qualified, except where the failure to do any of the foregoing could not reasonably be expected to cause a Material Adverse Change. In connection with this Agreement, Borrower has delivered to Bank a certificate signed by Borrower and
entitled “Collateral Information Certificate”. Borrower represents and warrants to Bank that: (a) Borrower’s exact legal name is that indicated on the Collateral Information Certificate and on the signature page hereof; (b) Borrower
is an organization of the type, and is organized in the jurisdiction, set forth in the Collateral Information Certificate; (c) the Collateral Information Certificate accurately sets forth Borrower’s organizational identification number or
accurately states that Borrower has none; and (d) the Collateral Information Certificate accurately sets forth Borrower’s place of business, or, if more than one, its chief executive office as well as Borrower’s mailing address if
different, and (e) all other information set forth on the Collateral Information Certificate pertaining to Borrower is accurate and complete. If Borrower does not now have an organizational identification number, but later obtains one, Borrower
shall promptly notify Bank of such organizational identification number. 
  
 The execution, delivery and performance of the Loan Documents have been duly authorized by Borrower, and do not conflict with Borrower’s organizational documents, nor constitute an event of default under any
material agreement by which Borrower is bound. 

  

 13 

 
Borrower is not in default under any agreement to which or by which it is bound in which the default could reasonably be expected to cause a Material Adverse
Change. 
  
 5.2 Collateral. 
  
 Borrower has good title to the Collateral, free of Liens except Permitted
Liens. Borrower maintains its primary operating accounts with Bank or with Bank’s Affiliates and all other deposit or investment accounts of Borrower are disclosed in the Collateral Information Certificate or have otherwise been disclosed to
Bank in writing. The Domestic Accounts are bona fide, existing obligations, and the service or property has been performed or delivered to the account debtor or its agent for immediate shipment to and unconditional acceptance by the account debtor.
Except as otherwise disclosed in writing to Bank, no Collateral consisting of Inventory with an aggregate value in excess of $200,000 is in the possession of any third party bailee (such as a warehouse). Except as hereafter disclosed to Bank in
writing by Borrower pursuant to and within the timeframe provided by Section 6.2(f)(i), none of the components of the Collateral with an aggregate value in excess of $200,000 is maintained at locations other than as provided in the Collateral
Information Certificate. In the event that Borrower, after the date hereof, intends to deliver possession of any Collateral consisting of Inventory with an aggregate value in excess of $200,000 to a bailee, then Borrower shall first obtain the
written consent of Bank, and such bailee must acknowledge in writing that the bailee is holding such Collateral for the benefit of Bank. All Inventory is in all material respects of good and marketable quality, free from material defects.

  
 5.3 Litigation. 
  
 Except as shown in the Collateral Information Certificate, there are no
actions or proceedings pending or, to the knowledge of Borrower’s Responsible Officers or legal counsel, threatened in writing by or against Borrower or any Subsidiary which could reasonably be expected to cause a Material Adverse Change.

  
 5.4 No Material Deterioration in Financial Statements.

  
 All consolidated financial statements for Borrower, and
any Subsidiary, delivered to Bank fairly present in all material respects Borrower’s consolidated financial condition and Borrower’s consolidated results of operations. There has not been a Material Adverse Change since the date of the
most recent financial statements submitted to Bank. 
  
 5.5
Solvency. 
  
 The fair salable value of Borrower’s
assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement; and Borrower is able to pay its debts (including trade
debts) as they mature. 
  
 5.6 Regulatory Compliance.

  
 Borrower is not an “investment company” or a
company “controlled” by an “investment company” under the Investment Company Act. Borrower is not engaged as one of its important 

  

 14 

 
activities in extending credit for margin stock (under Regulations T and U of the Federal Reserve Board of Governors). Borrower has complied in all material
respects with the Federal Fair Labor Standards Act. Borrower has not violated any laws, ordinances or rules, the violation of which could reasonably be expected to cause a Material Adverse Change. None of Borrower’s or any Subsidiary’s
properties or assets has been used by Borrower or any Subsidiary or, to the best of Borrower’s knowledge, by previous Persons, in disposing, producing, storing, treating, or transporting any hazardous substance other than legally. Borrower and
each Subsidiary have timely (taking into account any extensions of time granted to Borrower) filed all required tax returns and paid, or made adequate provision to pay, all material taxes, except those being contested in good faith with adequate
reserves under GAAP. Borrower and each Subsidiary have obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all government authorities that are necessary to continue its business as
currently conducted, except where the failure to make such declarations, notices or filings would not reasonably be expected to cause a Material Adverse Change. 
  

5.7 Subsidiaries. 
  
 Except as shown in the Collateral Information Certificate or as Borrower may otherwise notify Bank in writing from time to time, Borrower does not own any
stock, partnership interest or other equity securities except for Permitted Investments. 
  
 5.8 Full Disclosure. 
  
 No written representation, warranty or other statement of Borrower in any certificate or written statement given to Bank (taken together with all such written certificates and written statements given to Bank) contains any untrue statement
of a material fact or omits to state a material fact necessary to make the statements contained in the certificates or statements not misleading, it being recognized by Bank that the projections and forecasts provided by Borrower in good faith and
based upon reasonable assumptions are not viewed as facts and that actual results during the period or periods covered by such projections and forecasts may differ from the projected or forecasted results. 
  

	6.	AFFIRMATIVE COVENANTS 

  
 Borrower shall, and, where indicated, shall cause each of its Domestic Subsidiaries to, do all of the following for so long as Bank has an obligation to
lend or there are outstanding Obligations: 
  
 6.1 Government
Compliance. 
  
 (a) Except as to
Subsidiaries in connection with a transaction permitted by Section 7.1(f) or a merger permitted by Section 7.4, maintain its and all its Domestic Subsidiaries’ legal existence and, to the extent such legal concept is applicable, good standing
in their respective jurisdictions of organization except where the failure to do so could not reasonably be expected to cause a Material Adverse Change; 
  

 15 

 (b) Maintain its and its Domestic Subsidiaries’ qualification to do business
(to the extent such legal concept is applicable) in each jurisdiction where the failure to so qualify could reasonably be expected to cause a Material Adverse Change; and 
  
 (c) Comply, and have each of its Domestic Subsidiaries comply, with all laws, ordinances and
regulations to which it is subject, for which noncompliance or would reasonably be expected to cause a Material Adverse Change. 
  
 6.2 Financial Statements, Reports, Certificates. 
  
 (a) Deliver to Bank: (i) as soon as available, but no later than forty-five (45) days after the last day of each quarter, a company
prepared consolidated balance sheet and income statement covering Borrower’s consolidated operations during the period certified by a Responsible Officer and in a form acceptable to Bank; (ii) as soon as available, but no later than ninety (90)
days after the last day of Borrower’s fiscal year, audited consolidated financial statements prepared under GAAP, consistently applied, together with an opinion on the financial statements from a nationally-recognized, independent, certified
public accounting firm; (iii) within five (5) Business Days of filing, copies of all reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission; (iv) a prompt report of any legal actions pending or threatened in writing against
Borrower or any Subsidiary that could result in damages or costs to Borrower or any Subsidiary of Two Million Dollars ($2,000,000) or more; (v) as soon as available, but no later than ninety (90) days after the end of each fiscal year, a one (1)
year (prepared on a quarterly basis) financial projections of Borrower on a consolidated basis, including a balance sheet and statements of income and cash flows prepared in accordance with GAAP and showing projected operating revenues, expenses and
debt service of Borrower on a consolidated basis; and (vi) budgets, sales projections, operating plans or other financial information reasonably requested by Bank. 
  
 Documents required to be delivered pursuant to this Section 6.2(a) (to the extent any such documents
are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date on which Borrower posts such documents, or provides a link thereto on the Borrower’s
website on the Internet at Borrower’s website address of www.equinix.com (or such other website address as Borrower may provide to Bank in writing from time to time); provided that: (x) to the extent Bank is otherwise unable to
receive any such electronically delivered documents, Borrower shall, upon request by Bank, deliver paper copies of such documents to Bank until a written request to cease delivering paper copies is given by Bank and (y) Borrower shall notify Bank
(by telecopier or electronic mail) of the posting of any such documents or provide to Bank by electronic mail electronic versions (i.e., soft copies) of such documents. 
  
 (b) Borrower shall deliver to Bank, as soon as available, but no later than forty-five (45) days
after the last day of each month and together with the annual financial statements set forth in clause (a)(ii) above, a Compliance Certificate signed by a Responsible Officer in the form of Exhibit D. 
  
 (c) Except as otherwise provided herein, once per
calendar year, Borrower shall, during normal business hours, from time to time upon five (5) Business Days’ 

  

 16 

 
prior notice: (i) provide Bank and any of its officers, employees and agents access to its properties, facilities, advisors, officers and employees of
Borrower and to the Collateral, (ii) permit Bank, and any of its officers, employees and agents, to inspect, audit and make extracts from Borrower’s books and records, and (iii) permit Bank, and its officers, employees and agents, to inspect,
review, evaluate and make test verifications and counts of the Domestic Accounts, Inventory and other Collateral of Borrower. So long as no Default or Event of Default shall have occurred and be continuing, Borrower shall reimburse Bank for not more
than one (1) inspection in any calendar year in an amount not to exceed $10,000. If an Event of Default has occurred and is continuing, Borrower shall provide access to (x) its properties, facilities, advisors, officers and employees of Borrower and
to the Collateral at all times and without advance notice, and (y) its suppliers and customers upon request from Bank. Borrower shall promptly make available to Bank and its counsel originals or copies of all books and records that Bank may
reasonably request. 
  
 (d) Borrower shall
permit Bank to conduct its initial field examination within ninety (90) days after the Effective Date. In addition to any audits or inspections conducted by Bank pursuant to the terms of clause (c) above, Borrower shall permit Bank to conduct
annual field examinations during the term of this Agreement; provided, however, that Bank shall not be entitled to reimbursement for Bank Expenses in excess of $5,000 per examination; provided, further that at such time
as Covenant Level 2 is in effect and so long as no Event of Default has occurred and is continuing, Bank shall no longer require a field examination of Borrower on an annual basis. 
  
 (e) If, at any time prior to Covenant Level 2, the amount of unrestricted cash and Cash Equivalents
(net of Obligations and any STT Debt plus any interest accrued thereon) maintained by Borrower and Guarantor with Bank, any Affiliate of Bank, or any other financial institution located in the United States is less than $15,000,000 in the aggregate,
then Borrower shall deliver to Bank, within thirty (30) days after the last day of each month, aged listings (by invoice date) of accounts receivable and of accounts payable and a listing of Eligible Domestic Accounts, certified by a Responsible
Officer. 
  
 (f) Borrower shall provide
written notice to Bank (i) such notice to be delivered at the end of the fiscal quarter in which the following such relocation or additions occur, if Borrower relocates its chief executive office, or adds any new offices or business locations,
including warehouses (unless such new offices or business locations contain less than $200,000 in Borrower’s assets or property), (ii) such notice to be delivered at least thirty (30) days prior to the effective date of the following changes,
if Borrower changes (1) its jurisdiction of organization, (2) its organizational structure or type, (3) its legal name, or (4) the organizational number (if any) assigned by its jurisdiction of organization. 
  
 6.3 Inventory; Returns. 
  
 Keep all Inventory in good and marketable condition, free from material
defects. Returns and allowances between Borrower and its account debtors shall follow Borrower’s customary practices. Borrower must promptly notify Bank of all returns, recoveries, disputes and claims, that involve more than $250,000.

  

 17 

 6.4 Taxes. 
  
 Make, and cause each Subsidiary to make, timely (taking into account any extensions of time granted to Borrower) payment of
all material federal, state, and local taxes or assessments (other than taxes and assessments which Borrower is contesting in good faith, with reserves maintained to the extent required by GAAP) and will deliver to Bank, on demand, appropriate
certificates attesting to such payments. 
  
 6.5 Insurance.

  
 Keep its business and the Collateral insured for such
risks and in such amounts as is customary for Persons similarly situated as Borrower. All property policies shall have a lenders’ loss payable endorsement showing Bank as an additional loss payee; all liability policies shall show Bank as an
additional insured; all policies shall provide that the insurer must give Bank at least twenty (20) days notice before canceling its policy. At Bank’s request, Borrower shall deliver certified copies of policies and evidence of all premium
payments. Following the occurrence and during the continuance of an Event of Default, proceeds payable under any policy shall, at Bank’s option be payable to Bank on account of the Obligations. 
  
 6.6 Primary Accounts. 
  
 (a) Maintain Borrower’s primary operating
accounts with Bank or any Affiliate of Bank (collectively, “SVB Accounts”); 
  
 (b) Provide Bank five (5) Business Days advance written notice before establishing any Domestic Collateral Account at or with any
bank or financial institution (other than Bank). In addition, for each Domestic Collateral Account that Borrower at any time maintains, Borrower shall cause each applicable bank or financial institution (other than Bank) at or with which any
Domestic Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Domestic Collateral Account to perfect Bank’s security interest in such Domestic Collateral Account; and

  
 (c) At all times STT Debt of
$2,500,000 or more is outstanding, maintain cash or investment property pledged to STT separate from cash or Cash Equivalents in SVB Accounts or Domestic Collateral Accounts. 
  
 6.7 Financial Covenants. 
  
 (a) (i) At all times that Covenant Level 1 is in effect, Borrower and Guarantor shall maintain (A) with Bank, any Affiliate of
Bank, or any other financial institution located in the United States, unrestricted cash and Cash Equivalents (excluding cash and Cash Equivalents in amount equal to the outstanding principal amount of the STT Debt plus all unpaid interest accrued
thereon), and (B) [*], plus (2) the then outstanding amount of the Obligations. In measuring the Liquidity (which shall be tested on a monthly basis), not more than $7,500,000 shall be attributable to Eligible Domestic Accounts. (ii) At all
times Covenant Level 2 is in 

	*	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

  

 18 

 effect, Borrower and Guarantor shall maintain with Bank, any Affiliate of Bank, or any other financial
institution located in the United States, cash and Cash Equivalents in an aggregate amount (excluding cash and Cash Equivalents in amount equal to the outstanding principal amount of the STT Debt plus all unpaid interest accrued thereon) of at least
(1) [*]. (iii) In the event Covenant Level 2 is not yet in effect on the first anniversary of the Effective Date, Borrower and Guarantor shall maintain with Bank, any Affiliate of Bank, or any other financial institution located in the United
States, cash and Cash Equivalents in an aggregate amount (excluding cash and Cash Equivalents in amount equal to the outstanding principal amount of the STT Debt plus all unpaid interest accrued thereon) of at least (1) [*] (the
“Alternate Covenant Level”). 
  
 (b) At each date that is a quarter-end, Borrower and its consolidated Subsidiaries shall have achieved total revenue for the two-quarter period ending on such date equal to or greater than the amounts set forth in below opposite each
time period set forth below: 
  

			
	 Period

	  	Minimum Total Revenue

	 For the two fiscal quarters ending 9/30/04
	  	[*]
	 For the two fiscal quarters ending 12/31/04
	  	[*]
	 For the two fiscal quarters ending 3/31/05
	  	[*]
	 For the two fiscal quarters ending 6/30/05
	  	[*]
	 For the two fiscal quarters ending 9/30/05
	  	[*]
	 For the two fiscal quarters ending 12/31/05 and each quarter-end thereafter
	  	[*]

  
 (c)
For each quarter, Borrower and its consolidated Subsidiaries shall achieve an operating cash flow (as determined in accordance with GAAP and reported on Borrower’s financial statements, measured on a rolling two-quarters basis, of at least
$4,000,000; provided, however, losses for any quarter shall not exceed $1,000,000. At such time as Covenant Level 2 is in effect, Borrower shall no longer be required to maintain such minimum operating cash flow, and this Section 6.7(c) shall no
longer be applicable. 
  
 6.8 Intentionally Omitted.

  
 6.9 Further Assurances. 
  
 Borrower shall execute any further instruments and take further action as
Bank reasonably requests to perfect or continue Bank’s security interest in the Collateral or to effect the purposes of this Agreement. 

	*	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

  

 19 

	7.	NEGATIVE COVENANTS 

  
 Borrower shall not, and, where indicated, shall not permit any of its Subsidiaries to, do any of the following without Bank’s prior written consent,
for so long as Bank has an obligation to lend or there are any outstanding Obligations: 
  
 7.1 Dispositions. 
  
 Convey, sell, lease, transfer or otherwise dispose of (collectively a “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for (a) Transfers of Inventory in
the ordinary course of business; (b) non-exclusive licenses, leases, and similar arrangements for the use of the property of Borrower or its Subsidiaries in the ordinary course of business; (c) Transfers of worn out, surplus, damaged, or obsolete
Equipment; (d) Transfers associated with the making or disposition of a Permitted Investment; (e) dispositions of cash or Permitted Investments in a manner not prohibited by this Agreement; (f) mergers or consolidations of any Subsidiary into
Borrower or another Subsidiary or liquidations of or dissolutions of Subsidiaries; (g) Transfers in connection with transaction permitted under Section 7.4; (h) Transfers of unimproved real property; (i) Transfers of any Facility if as of the
date of such Transfer such Facility is a Non-Performing Facility; and (j) Transfers not otherwise permitted in this Section 7.1, provided, that the aggregate book value of all such other Transfers by Borrower and its Subsidiaries,
together, shall not exceed $5,000,000 in any fiscal year. 
  
 7.2 Changes in Business. 
  
 Engage in or permit
any of its Subsidiaries to engage in any business other than the businesses currently engaged in by Borrower or reasonably related thereto. 
  
 7.3 Dissolution. 
  
 Dissolve or elect to dissolve. 
  
 7.4 Mergers; Consolidations. 
  
 Merge or consolidate with another corporation or entity, or acquire all or substantially all of the capital stock or property of a Person; provided that
Borrower may merge or consolidate with another corporation or entity or acquire all or substantially all of the capital stock or property of a Person, if (a) a Default or an Event of Default shall not have occurred and be continuing and would not
occur as a result of such transaction, and (b) Borrower is the sole survivor after giving effect to the transaction; 
  
 7.5 Indebtedness. 
  
 Prior to the effectiveness of Covenant Level 2, create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than
Permitted Indebtedness. While Covenant Level 2 is in effect, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, if any of the foregoing would result in the occurrence of or constitute a Default or an Event of
Default. 
  
 7.6 Encumbrance. 
  
 Prior to the effectiveness of Covenant Level 2, create, incur, or allow any
Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens. While Covenant Level 2 is in effect, create, incur, or allow
any Lien on any of its property, or permit any of its Subsidiaries 

  

 20 

 
to do so, if any of the foregoing would result in the occurrence of or constitute a Default or an Event of Default. Permit any Collateral not to be subject
to the first priority security interest granted herein, subject only to Permitted Liens. 
  
 7.7 Distributions; Investments. 
  
 Prior to the effectiveness of Covenant Level 2, directly or indirectly acquire or own any Person, or make any Investment in any Person, other than Permitted Investments, or permit any of its Domestic Subsidiaries to do so; or pay any
dividends or make any distribution or payment or redeem, retire or purchase any capital stock except for Permitted Distributions. While Covenant Level 2 is in effect, directly or indirectly acquire or own any Person, or make any Investment in any
Person, or permit any of its Domestic Subsidiaries to do so, if such acquisition, ownership or Investment would result in the occurrence of or constitute a Default or an Event of Default; or pay any dividends or make any distribution or payment or
redeem, retire or purchase any capital stock if any of the foregoing would result in the occurrence of or constitute a Default or an Event of Default. 
  
 7.8 Transactions with Affiliates. 
  
 Directly or indirectly enter into or permit to exist any material transaction with any Affiliate of Borrower except for transactions that are in the
ordinary course of Borrower’s business, or upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length transaction with a non-affiliated Person. 
  
 7.9 Subordinated Debt. 
  
 Prior to the effectiveness of Covenant Level 2, make or permit any payment
on any Subordinated Debt, except under the terms of the Subordinated Debt or any intercreditor agreement to which Bank is a party, or amend any provision in any document relating to the Subordinated Debt without Bank’s prior written consent.
While Covenant Level 2 is in effect, make or permit any payment on any Subordinated Debt, except under the terms of the Subordinated Debt or any intercreditor agreement to which Bank is a party, or amend any provision in any document relating to the
Subordinated Debt, if any of the foregoing would result in the occurrence of or constitute a Default or an Event of Default. 
  
 7.10 Compliance. 
  
 Become an “investment company” or a company controlled by an “investment company,” under the Investment Company Act of 1940 or
undertake as one of its important activities extending credit to purchase or carry margin stock, or use the proceeds of any Credit Extension for that purpose; fail to meet the minimum funding requirements of ERISA, permit a Reportable Event or
Prohibited Transaction, as defined in ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or violate any other law or regulation, if the violation could reasonably be expected to have a material adverse effect on
Borrower’s business or operations or would reasonably be expected to cause a Material Adverse Change, or permit any of its Subsidiaries to do so. 
  

 21 

	8.	EVENTS OF DEFAULT 

  
 Any one of the following is an Event of Default: 
  
 8.1 Payment Default. 
  
 If Borrower fails to pay (a) the principal portion of any Credit Extension when due, or (b) the interest portion of any Credit Extension within three (3)
Business days after the date due, or (c) any other monetary Obligations within three (3) Business Days after payment of such other Obligation becomes delinquent. During any cure period, the failure to cure the payment default is not an Event of
Default (but no Credit Extensions will be made during the cure period). 
  
 8.2 Covenant Default. 
  
 (a)
If Borrower fails to perform any obligation under Section 6.7 or violates any of the covenants contained in Sections 7.5, 7.6 or 7.7 of this Agreement, or 
  
 (b) If Borrower fails or neglects to perform, keep, or observe any other material term, provision,
condition, covenant, or agreement contained in this Agreement, in any other Loan Document, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition, covenant or agreement
that can be cured, has failed to cure such default within fifteen (15) days after a Responsible Officer is aware of the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the fifteen (15)
day period or cannot after diligent attempts by Borrower be cured within such fifteen (15) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any
case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default (but no Credit Extensions will be made during such cure period).

  
 8.3 Material Adverse Change. 
  
 If a Material Adverse Change occurs. 
  
 8.4 Attachment. 
  
 If (a) any material portion of Borrower’s assets is attached, seized,
levied on, or comes into possession of a trustee or receiver and the attachment, seizure or levy is not removed in fifteen (15) days; (b) the service of process upon Borrower seeking to attach, by trustee or similar process, any material portion of
funds of Borrower on deposit with Bank, or any entity under the control of Bank (including a subsidiary); (c) Borrower is enjoined, restrained, or prevented by court order from conducting a material part of its business; (d) a judgment or other
claim becomes a Lien on a material portion of Borrower’s assets; or (e) a notice of lien, levy, or assessment is filed against any material portion of Borrower’s assets by any government agency and not paid within fifteen (15) days after
Borrower receives notice. These are not Events of Default if stayed or if a bond is posted pending contest by Borrower (but no Credit Extensions shall be made during the cure period). For purposes of this Section 8.4, “material portion”
means an amount equal to or in excess of Two Million Dollars ($2,000,000). 
  

 22 

 8.5 Insolvency. 
  
 If (a) Borrower is unable to pay its debts (including trade debts) as they mature; (b) Borrower begins an Insolvency
Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within sixty (60) days (but no Credit Extensions shall be made before any Insolvency Proceeding is dismissed). 
  
 8.6 Other Agreements. 
  
 If there is a default in any agreement (other than a lease of real property
under which a bona fide dispute exists between Borrower and the landlord regarding the existence of a default and for which adequate reserves are maintained) to which Borrower is a party with a third party or parties resulting in a right by such
third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of [*] or that could result in a Material Adverse Change. 
  
 8.7 Judgments. 
  
 If a judgment or judgments for the payment of money in an amount, individually or in the aggregate, of at least Two Million Dollars ($2,000,000) shall be
rendered against Borrower and shall (a) remain unsatisfied and unstayed for a period of ten (10) days and (b) not be appealed within the shorter of forty-five (45) days or the time period during which such appeal is required to be brought under
applicable law (provided that no Credit Extensions will be made prior to the satisfaction or stay of such judgment). 
  
 8.8 Misrepresentations. 
  
 If Borrower or any Person acting for Borrower makes any material misrepresentation or material misstatement now or later in any warranty or representation
in this Agreement or in any writing delivered to Bank or to induce Bank to enter this Agreement or any Loan Document. 
  

	9.	RIGHTS AND REMEDIES 

  
 9.1 Rights and Remedies. 
  
 When an Event of Default occurs and continues Bank may, without notice or demand, do any or all of the following: 
  
 (a) declare all Obligations immediately due and
payable (but if an Event of Default described in Section 8.5 occurs, all Obligations are immediately due and payable without any action by Bank); 
  
 (b) stop advancing money or extending credit for Borrower’s benefit under this Agreement or under any other agreement between
Borrower and Bank; 

	*	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

  

 23 

 (c) settle or adjust disputes and claims directly with account debtors for
amounts, on terms and in any order that Bank considers advisable and notify any Person owing Borrower money of Bank’s security interest in such funds and collect and verify the amount of such account. Borrower shall collect all payments in
trust for Bank and, if requested by Bank, immediately deliver the payments to Bank in the form received from the account debtor, with proper endorsements for deposit; 
  
 (d) make any payments and do any acts it considers necessary or reasonable to protect its security
interest in the Collateral. Borrower shall assemble the Collateral if Bank requests and make it available as Bank designates. Bank may enter premises where the Collateral is located, take and maintain possession of any part of the Collateral, and
pay, purchase, contest, or compromise any Lien which appears to be prior or superior to its security interest and pay all expenses incurred. Borrower grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of
Bank’s rights or remedies; 
  
 (e)
apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) any amount held by Bank owing to or for the credit or the account of Borrower; 
  
 (f) ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale,
and sell the Collateral. Bank is hereby granted a non-exclusive, royalty-free license or other right to use, without charge, Borrower’s labels, patents, copyrights, mask works, rights of use of any name, trade secrets, trade names, trademarks,
service marks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Bank’s exercise of its rights under this
Section, Borrower’s rights under all licenses and all franchise agreements inure to Bank; 
  
 (g) place a “hold” on any account maintained with Bank and/or deliver a notice of exclusive control, any entitlement
order, or other directions or instructions pursuant to any control agreement or similar agreements providing control of any Collateral; 
  
 (h) require Borrower to provide cash collateral in the face amount of all undrawn Letters of Credit; 
  
 (i) terminate any FX Forward Contracts; and

  
 (j) dispose of the Collateral
according to the Code. 
  
 9.2 Power of Attorney.

  
 Borrower hereby irrevocably appoints Bank as its lawful
attorney-in-fact, to be effective upon the occurrence and during the continuance of an Event of Default, to: (a) endorse Borrower’s name on any checks or other forms of payment or security; (b) sign Borrower’s name on any invoice or bill
of lading for any Account or drafts against account debtors, (c) settle and adjust disputes and claims about the Accounts directly with account debtors, for amounts and on terms Bank determines reasonable; (d) make, settle, and adjust all claims
under Borrower’s insurance policies; and (e) transfer the Collateral into the name of Bank or a third party as the Code permits. Borrower hereby appoints Bank as its lawful attorney-in-fact to sign Borrower’s 

  

 24 

 
name on any documents necessary to perfect or continue the perfection of any security interest regardless of whether an Event of Default has occurred until
all Obligations have been satisfied in full and Bank is under no further obligation to make Credit Extensions hereunder. Bank’s foregoing appointment as Borrower’s attorney in fact, and all of Bank’s rights and powers, coupled with an
interest, are irrevocable until all Obligations have been fully repaid and performed and Bank’s obligation to provide Credit Extensions terminates. 
  
 9.3 Intentionally Omitted. 
  
 9.4 Bank Expenses. 
  
 If Borrower fails to pay any amount or furnish any required proof of payment to third persons Bank may make all or part of the payment or obtain insurance
policies required in Section 6.5. Any amounts paid by Bank as provided herein are Bank Expenses and are immediately due and payable and shall bear interest at the highest applicable default rate and be secured by the Collateral. No payments by Bank
shall be deemed an agreement to make similar payments in the future or Bank’s waiver of any Event of Default. 
  
 9.5 Bank’s Liability for Collateral. 
  
 So long as Bank complies with reasonable banking practices regarding the safekeeping of Collateral, Bank shall not be liable or responsible for: (a) the
safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or
destruction of the Collateral. 
  
 9.6 Remedies Cumulative.

  
 Bank’s rights and remedies under this Agreement, the
other Loan Documents, and all other agreements among Borrower and Bank, are cumulative. Bank has all rights and remedies provided under the Code, by law, or in equity. Bank’s exercise of one right or remedy is not an election, and Bank’s
waiver of any Event of Default is not a continuing waiver. Bank’s delay in enforcing its rights is not a waiver, election, or acquiescence. No waiver hereunder by Bank shall be effective unless signed by Bank and then is only effective for the
specific instance and purpose for which it was given. 
  
 9.7
Demand Waiver. 
  
 Borrower waives demand, notice of default
or dishonor, notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Bank on which Borrower is
liable. 
  

	10.	NOTICES 

  
 Notices or demands by either party about this Agreement must be in writing and personally delivered or sent by an overnight delivery service, or by
certified mail, postage prepaid, return receipt requested, or by facsimile at the addresses and facsimile numbers listed 

  

 25 

 
below. For purposes of Section 2.3, Bank may send notice to Borrower by electronic mail at the email address set forth below (provided that a copy of
such notice shall be mailed promptly thereafter to Borrower at the address set forth below). Failure to provide copies of notices to Borrower or Bank to the Persons named below to receive copies shall not invalidate the notice to Borrower or to
Bank, as applicable. A party may change its notice address by written notice to the other party. 
  

			
	 If to Borrower:
	  	Equinix, Inc.
	 	  	301 Velocity Way, 5th Floor
	 	  	Foster City, California 94404
	 	  	Attn: Treasurer
	 	  	Fax: (650) 513-7913
	 	  	Email:mmock@equinix.com
		
	 with a copy to:
	  	Equinix, Inc.
	 	  	301 Velocity Way, 5th Floor
	 	  	Foster City, California 94404
	 	  	Attn: General Counsel
	 	  	Fax: (650) 513-7913
		
	 and to:
	  	Orrick, Herrington & Sutcliffe LLP
	 	  	405 Howard Street
	 	  	San Francisco, California 94105
	 	  	Attn: Richard S. Grey, Esq.
	 	  	Fax: (415) 773-5759
		
	 If to Bank:
	  	Silicon Valley Bank
	 	  	3003 Tasman Drive
	 	  	Santa Clara, California 95054
	 	  	Attn: Maria Leaf
	 	  	Fax: (650) 320-0016
		
	 with a copy to:
	  	Bingham McCutchen LLP
	 	  	Three Embarcadero Center
	 	  	San Francisco, California 94111-4067
	 	  	Attn: Pamela J. Martinson, Esq.
	 	  	Fax: (415) 393-2286

  

	11.	CHOICE OF LAW, VENUE AND JURY TRIAL WAIVER 

  
 California law governs the Loan Documents without regard to principles of conflicts of law. Borrower and Bank each submit to the exclusive jurisdiction of
the State and Federal courts in California, and Borrower accepts jurisdiction of the courts and venue in Santa Clara County, California. NOTWITHSTANDING THE FOREGOING, BANK SHALL HAVE THE RIGHT TO BRING ANY ACTION OR PROCEEDING AGAINST BORROWER OR
ITS PROPERTY IN THE COURTS OF ANY OTHER JURISDICTION WHICH BANK DEEMS NECESSARY 

  

 26 

 
OR APPROPRIATE IN ORDER TO REALIZE ON THE COLLATERAL OR TO OTHERWISE ENFORCE BANK’S RIGHTS AGAINST BORROWER OR ITS PROPERTY. 
  
 BORROWER AND BANK EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR
CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS
AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
  

	12.	GENERAL PROVISIONS 

  
 12.1 Successors and Assigns. 
  
 This Agreement binds and is for the benefit of the successors and permitted assigns of each party. Borrower may not assign this Agreement or any rights or
Obligations under it without Bank’s prior written consent which may be granted or withheld in Bank’s sole discretion. Bank has the right, with the consent (not to be unreasonably withheld or delayed) of Borrower so long as no Default or
Event of Default has occurred, to sell, assign or transfer all or any part of, or any interest in, Bank’s obligations, rights and benefits under this Agreement, the Loan Documents or any other related agreement, provided that no consent shall
be required for Bank to grant participations in all or any part of, or any interest in, Bank’s obligations, rights and benefits under this Agreement so long as the sale of any such participation interests does not relieve Bank of its
obligations hereunder or create any additional obligations of Borrower. 
  
 12.2 Indemnification. 
  
 Borrower hereby
indemnifies, defends and holds Bank and its respective officers, employees, and agents harmless against: (a) all obligations, demands, claims, and liabilities asserted by any other party in connection with the transactions contemplated by the Loan
Documents; and (b) all losses, or Bank’s Expenses incurred, or paid by Bank from, following, or consequential to transactions between Bank and Borrower (including reasonable attorneys’ fees and expenses), except to the extent any of the
foregoing are caused by Bank’s gross negligence or willful misconduct. 
  
 12.3 Attorneys’ Fees, Costs and Expenses. 
  
 In any action or proceeding between Borrower and Bank arising out of the Loan Documents the prevailing party will be entitled to recover its reasonable attorneys’ fees and other reasonable costs and expenses
incurred, in addition to any other relief to which it may be entitled. 
  
 12.4 Right of Set-Off. 
  
 Borrower hereby grants
to Bank, a lien, security interest and right of set-off as security for all Obligations to Bank hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession,
custody, safekeeping or control of Bank or any entity under the control of Bank (including a Bank 

  

 27 

 
subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Bank
may set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO
REQUIRE BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER OR ANY GUARANTOR, ARE
HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 
  
 12.5
Time of Essence. 
  
 Time is of the essence for the payment
and performance of all Obligations in this Agreement. 
  
 12.6
Severability of Provisions. 
  
 Each provision of this
Agreement is severable from every other provision in determining the enforceability of any provision. 
  
 12.7 Amendments in Writing, Integration. 
  
 All amendments to this Agreement must be in writing signed by both Bank and Borrower. This Agreement and the Loan Documents represent the entire agreement
about this subject matter, and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Agreement and the Loan Documents
merge into this Agreement and the Loan Documents. 
  
 12.8
Counterparts. 
  
 This Agreement may be executed in any number
of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, are an original, and all taken together, constitute one Agreement. 
  
 12.9 Survival. 
  
 All covenants, representations and warranties made in this Agreement continue in full force while any Obligations remain outstanding. The obligation of
Borrower in Section 12.2 to indemnify Bank shall survive until the statute of limitations with respect to such claim or cause of action shall have run. 
  

12.10 Confidentiality. 
  
 In handling any confidential information, Bank shall exercise the same degree of care that it exercises for its own proprietary information, but
disclosure of information may be made: (a) to Bank’s subsidiaries or affiliates in connection with their business with Borrower; (b) to 

  

 28 

 
prospective transferees or purchasers of any interest in the Credit Extensions (provided, however, Bank shall obtain such prospective transferee’s or
purchaser’s agreement to the terms of this provision); (c) as required by law, regulation, subpoena, or other order; (d) as required in connection with Bank’s examination or audit; and (e) as Bank considers appropriate in exercising
remedies under this Agreement. Confidential information does not include information that either: (x) is in the public domain or in Bank’s possession when disclosed to Bank (other than information that becomes part of the public domain by
reason of Bank’s breach of this Section 12.10), or becomes part of the public domain after disclosure to Bank; or (y) is disclosed to Bank by a third party, if, at the time of disclosure, Bank does not know that the third party is
prohibited from disclosing the information. 
  
 12.11
Designation of Obligations as “Designated Senior Debt”. 
  
 Borrower and Bank expressly agree that the Obligations constitute “Designated Senior Debt” for purposes of and as defined in that certain Indenture, dated as of February 11, 2004, between Borrower and U.S. Bank National
Association, as Trustee, as amended, modified or supplemented from time to time. 
  

	13.	DEFINITIONS 

  
 13.1 Definitions. 
  
 In this Agreement: 
  
 “Accounts” are all existing and later arising accounts, contract rights, and other obligations owed Borrower or Guarantor in
connection with its sale or lease of goods (including licensing software and other technology) or provision of services, all credit insurance, guaranties, other security and all merchandise returned or reclaimed by Borrower or Guarantor and
Borrower’s Books relating to any of the foregoing, as such definition may be amended from time to time according to the Code. 
  
 “Adjusted LIBOR” means, for each Interest Period in respect of LIBOR Advances comprising part of the same Advances, an interest
rate per annum (rounded upward to the nearest 1/16th of one percent (0.0625%)) equal to LIBOR for such Interest Period divided by one (1) minus the Reserve Requirement for such Interest Period. 
  
 “Advance” or “Advances” is a
loan advance (or advances) under the Committed Revolving Line. 
  
 “Affiliate” of any Person is (a) any Person that owns or controls directly or indirectly such Person, (b) any Person that controls or is controlled by or is under common control with such Person, and (c) each of such
Person’s senior executive officers or directors, (d) for any Person that is a limited liability company, such Person’s managers and members, and (e) for any Person that is a partnership, such Person’s general partner. 
  
 “Alternate Covenant Level” has the meaning set forth
in Section 6.7(a). 
  

 29 

 “Applicable Margins” means, collectively, the Applicable Revolver LIBOR Margin
and the Applicable Term LIBOR Margin. 
  
 “Applicable
Revolver LIBOR Margin” means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Advances, as determined by reference to Section 2.4(b) of the Agreement. 

 
 “Applicable Term LIBOR Margin” means the per annum
interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Advances, as determined by reference to Section 2.4(b) of the Agreement. 
  
 “Bank Expenses” are all audit fees and expenses and costs or expenses (including reasonable
attorneys’ fees and expenses) for preparing, negotiating, administering, defending and enforcing the Loan Documents (including appeals or Insolvency Proceedings). 
  
 “Borrower’s Books” are all Borrower’s and Guarantor’s books and records including
ledgers, records regarding Borrower’s and Guarantor’s assets or liabilities, the Collateral, business operations or financial condition and all computer programs or discs or any equipment containing the information. 
  
 “Business Day” is any day that is not a Saturday,
Sunday or a day on which Bank is closed. 
  
 “Cash
Equivalents” are (a) marketable direct obligations issued or unconditionally guaranteed by the United States or its agency or any state maturing within one (1) year from its acquisition, (b) commercial paper maturing no more than one
(1) year after its acquisition and having an A-1/P-1 or better rating from either Standard & Poor’s Corporation or Moody’s Investors Service, Inc., (c) Bank’s certificates of deposit issued maturing no more than one (1) year after
issue, (d) shares in money market funds rated Aaa/AAA, and (e) any other investments administered through Bank or its Affiliates. 
  
 “Cash Management Services” has the meaning ascribed to it in Section 2.1.4. 
  
 “Cash Management Services Sublimit” has
the meaning ascribed to it in Section 2.1.4. 
  
 “Change in Control” is a transaction in which (a) any “person” or “group” (within the meaning of Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the
“Act”)), other than STT or its Affiliates, becomes the “beneficial owner” (as defined in Rule 13d-3 under the Act), directly or indirectly, of greater than 35% of the shares of all classes of stock then outstanding
of a Person ordinarily entitled to vote in the election of the directors of such Person; or (b) STT, considered together with its Affiliates, becomes the “beneficial owner” (as defined in Rule 13d-3 under the Act), directly or indirectly,
of greater than 50% of the shares of all classes of stock then outstanding of a Person ordinarily entitled to vote in the election of the directors of such Person. 
  
 “Code” is the Uniform Commercial Code as adopted in California as amended and in effect from time to
time. 
  

 30 

 “Collateral” is the property described on Exhibit E attached hereto.

  
 “Collateral Information Certificates”
are the Collateral Information Certificates delivered by Borrower and Guarantor to Bank on or before the Effective Date. 
  
 “Committed Revolving Line” is an aggregate principal amount equal to $25,000,000. 
  
 “Commodity Account” has the meaning ascribed to it in
the Code. 
  
 “Contingent Obligation” is,
for any Person, any direct or indirect liability, contingent or not, of that Person for (a) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation directly or indirectly guaranteed, endorsed, co
made, discounted or sold with recourse by that Person, or for which that Person is directly or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and (c) all obligations from any interest rate,
currency or commodity swap agreement, interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but “Contingent
Obligation” does not include endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not
determinable, the maximum reasonably anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under the guarantee or other support arrangement. 
  
 “Continuation Date” means any date on which Borrower
elects to continue a LIBOR Advance into another Interest Period. 
  
 “Control Agreement” means, collectively, any control agreement entered into among Borrower, Bank and the depositary bank, securities intermediary, or commodity intermediary at which Borrower maintains a Deposit
Account, Securities Account, or a Commodity Account, pursuant to which Bank obtains control (within the meaning of the applicable provision of the Code) over such Deposit Account, Securities Account, or Commodity Account. 
  
 “Conversion Date” means any date on which Borrower
elects to convert a Prime Rate Advance to a LIBOR Advance or a LIBOR Advance to a Prime Rate Advance. 
  
 “Copyright” means any of the following now owned or hereafter acquired or created (as a work for hire for the benefit of Borrower)
by Borrower or in which Borrower now holds or hereafter acquires or receives any right or interest, in whole or in part: (a) any copyright, whether registered or unregistered, held pursuant to the laws of the United States or of any other country or
foreign jurisdiction, (b) registration, application or recording in the United States Copyright Office or in any similar office or agency of the United States or any other country or foreign jurisdiction, (c) any continuation, renewal or extension
thereof, and (d) any registration to be issued in any pending application, and shall include any right or interest in and to work protectable by any of the foregoing which are presently or in the future owned, created or authorized (as a work for
hire for the benefit of Borrower) or acquired by Borrower, in whole or in part. 
  

 31 

 “Covenant Level 1” means the period from the Effective Date until the date
Borrower elects to comply with Covenant Level 2. 
  
 “Covenant Level 2” means the period beginning on the date Borrower elects to comply with Covenant Level 2 by giving notice thereof to Bank in writing, either by checking the appropriate space on the Compliance
Certificate or otherwise, until termination of this Agreement. 
  
 “Credit Extension” is each Advance, Letter of Credit, FX Forward Contract, Cash Management Services, or any other extension of credit by Bank for Borrower’s benefit. 
  
 “Default” means an event, condition, or act which
with notice or the passage of time, or both, would constitute an Event of Default. 
  
 “Deferred Revenue” is all amounts received in advance of performance and not yet recognized as revenue. 
  

“Deposit Accounts” means all present and future “deposit accounts” as defined in the Code in effect on the date
hereof with such additions to such term as may hereafter be made, and includes without limitation all general and special bank accounts, demand accounts, checking accounts, savings accounts and certificates of deposit, whether maintained with Bank
or other institutions. 
  
 “Designated Deposit
Account” means that certain deposit account maintained with Bank in the name of Borrower, account number [*]. 
  
 “Domestic Accounts” means Accounts for which the account debtor has its principal place of business in the United States.

  
 “Domestic Collateral Account” is any
Deposit Account, Securities Account or Commodity Account established by Borrower or Guarantor at or with any bank or financial institution located in the United States. 
  
 “Domestic Subsidiary” means any direct or indirect Subsidiary of Borrower or Guarantor which is
organized under the laws of the United States or any State thereof. 
  
 “Effective Amount” means with respect to any Advances on any date, the aggregate outstanding principal amount thereof after giving effect to any borrowing and prepayments or repayments thereof occurring on such date.

  
 “Effective Date” means the date that
Bank signs this Agreement as indicated on the signature page hereof. 
  
 “Eligible Domestic Accounts” are Accounts in the ordinary course of Borrower’s and Guarantor’s business that meet all the representations and warranties in Section 5.2, and which 

	*	CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

  

 32 

 contain selling terms and conditions acceptable to Bank; provided, that Bank may change eligibility standards by giving
Borrower and Guarantor notice thereof. Unless Bank agrees otherwise in writing, Eligible Domestic Accounts will not include: 
  
 (a) Accounts against which Bank does not have a perfected, first priority security interest; 
  
 (b) Accounts that the account debtor has not paid within 90 days of invoice date; 
  
 (c) Accounts for an account debtor, 35% or more of whose Accounts have not
been paid within 90 days of invoice date; 
  
 (d) Accounts with
credit balances over 90 days from invoice date; 
  
 (e) Accounts
for an account debtor, including Affiliates, whose total obligations to Borrower and Guarantor exceed 40% of all Accounts, for the amounts that exceed that percentage, unless the Bank approves otherwise in writing; 
  
 (f) Accounts for which the account debtor does not have its principal place
of business in the United States; 
  
 (g) Accounts for which the
account debtor is a federal, state or local government entity or any department, agency, or instrumentality and against which Bank’s security interest has not been perfected under the Assignment of Claims Act; 
  
 (h) Accounts for which Borrower or Guarantor owes the account debtor, but
only up to the amount owed (sometimes called “contra” accounts, accounts payable, customer deposits or credit accounts); 
  
 (i) Accounts for demonstration or promotional equipment, or in which goods are consigned, sales guaranteed, sale or return, sale on approval, bill and
hold, or other terms if account debtor’s payment may be conditional; 
  
 (j) Accounts for which the account debtor is an Affiliate, officer, employee, or agent of Borrower or Guarantor; 
  
 (k) Accounts in which the account debtor disputes liability or makes any claim and Bank believes there may be a basis for dispute (but only up to the
disputed or claimed amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; or 
  
 (l) Accounts for which Bank reasonably determines collection to be doubtful, or the Account holder to be an unacceptable business risk. 
  
 “Equipment” is all present and future machinery,
equipment, tenant improvements, furniture, fixtures, vehicles, tools, parts and attachments in which Borrower has any interest. 
  

 33 

 “Facility” means any Internet Business ExchangeTM (IBX) center owned or operated by the Borrower or any of its Subsidiaries.

  
 “Filing Collateral” means any
Collateral in which a security interest may be perfected by the filing of a financing statement in the appropriate jurisdiction under the Code. 
  
 “First Installment Payment Date” means the date that is ninety (90) days from the Term Loan Option Date. 
  
 “Foreign Assets” means (a) any tangible assets not
located within the United States; (b) Accounts that are not Domestic Accounts; (c) any Deposit Account, Securities Account, Commodity Account or Letter of Credit Right if the jurisdiction (as determined pursuant to Section 9304, 9305 or 9306, as
applicable, of the Code) of the related depositary bank, securities intermediary, commodity intermediary or issuer is outside the United States; (d) any equity securities issued by a Subsidiary of Borrower or Guarantor that is not a Domestic
Subsidiary; and (e) any “instrument” (as defined in the Code) if the payor thereof does not have its principal place of business in the United States. 
  

“Funding Date” is the date on which an Advance is made to or on account of Borrower. 
  
 “FX Forward Contract” has the meaning ascribed
thereto in Section 2.1.3. 
  
 “FX
Reserve” has the meaning ascribed thereto in Section 2.1.3. 
  
 “GAAP” is generally accepted accounting principles in effect under the laws of the United States of America from time to time. 
  
 “General Intangibles” has the meaning ascribed to it in the Code. 
  
 “Governmental Authority” means (a) any foreign,
federal, state, county, or municipal government, or political subdivision thereof, (b) any governmental or quasi-governmental agency, authority, board, bureau, commission, department, instrumentality or public body, (c) any court or administrative
tribunal or (d) with respect to any Person, any arbitration tribunal or other non-governmental authority to whose jurisdiction that Person has consented. 
  
 “Guarantor” means Equinix Operating Co., Inc., a Delaware corporation. 
  
 “Indebtedness” is (a) indebtedness for borrowed money
or the deferred price of property or services, such as reimbursement and other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations and (d)
Contingent Obligations. 
  
 “Insolvency
Proceeding” is any proceeding by or against any Person under the United States Bankruptcy Code, or any other bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its
creditors, or proceedings seeking reorganization, arrangement, or other relief. 
  

 34 

 “Intellectual Property” means any intellectual property, in any medium, of any
kind or nature whatsoever, now or hereafter owned or acquired or received by Borrower or in which Borrower now holds or hereafter acquires or receives any right or interest, and shall include, in any event, any Copyright, Trademark, Patent, trade
secret, customer list, Internet domain name (including any right related to the registration thereof), proprietary or confidential information, Mask Works, source, object or other programming code, invention (whether or not patented or patentable),
technical information, procedure, design, knowledge, know how, software, data base, data, skill, expertise, recipe, experience, process, model, drawing, material or record, all claims for damages by way of past, present and future infringement of
any of the rights included above and all licenses or other rights to use any property or rights of a type described above. 
  
 “Interest Payment Date” means, with respect to any LIBOR Advance, the last day of each Interest Period applicable to such LIBOR
Advance and, with respect to Prime Rate Advances, the last day of each fiscal quarter, and each date a Prime Rate Advance is converted into a LIBOR Advance to the extent of the amount converted to a LIBOR Advance. 
  
 “Interest Period” means, as to any LIBOR Advance, the
period commencing on the date of such LIBOR Advance, or on the conversion/continuation date on which the LIBOR Advance is converted into or continued as a LIBOR Advance, and ending on the date that is one (1), two (2), or three (3), months
thereafter, in each case as Borrower may elect in the applicable Notice of Borrowing or Notice of Conversion/Continuation; provided, however, that (a) no Interest Period with respect to any LIBOR Advance being repaid during the
Revolving Period shall end later than the Revolving Maturity Date unless such LIBOR Advance is selected to be repaid under the Term Loan Option, (b) no Interest Period with respect to any LIBOR Advance being repaid under the Term Loan Option shall
end later than the Term Loan Maturity Date, (c) the last day of an Interest Period shall be determined in accordance with the practices of the LIBOR interbank market as from time to time in effect, (d) if any Interest Period would otherwise end on a
day that is not a Business Day, that Interest Period shall be extended to the following Business Day unless, in the case of a LIBOR Advance, the result of such extension would be to carry such Interest Period into another calendar month, in which
event such Interest Period shall end on the preceding Business Day, (e) any Interest Period pertaining to a LIBOR Advance that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in
the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period, and (f) interest shall accrue from and include the first Business Day of an Interest Period but
exclude the last Business Day of such Interest Period. 
  
 “Interest Rate Determination Date” means each date for calculating the LIBOR for purposes of determining the interest rate in respect of an Interest Period. The Interest Rate Determination Date shall be the second
Business Day prior to the first day of the related Interest Period for a LIBOR Advance. 
  
 “Inventory” is present and future inventory in which Borrower has any interest, including merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and
finished products intended for sale or lease or to be furnished under a contract of service, of every kind and description now or later owned by or in the custody or possession, actual or constructive, of Borrower, including inventory temporarily
out of its custody or possession or in 

  

 35 

 
transit and including returns on any accounts or other proceeds (including insurance proceeds) from the sale or disposition of any of the foregoing and any
documents of title. 
  
 “Investment” is
any beneficial ownership of (including stock, partnership interest or other securities) any Person, or any loan, advance or capital contribution to any Person. 
  

“Investment Property” has the meaning ascribed to it in the Code. 
  
 “Letter of Credit” has the meaning ascribed to it in Section 2.1.2. 
  
 “Letter of Credit Rights” has the meaning ascribed to
it in the Code. 
  
 “LIBOR” means, for any
Interest Rate Determination Date with respect to an Interest Period for any Advance to be made, continued as or converted into a LIBOR Advance, the rate of interest per annum determined by Bank to be the per annum rate of interest at which deposits
in United States Dollars are offered to Bank in the London interbank market in which Bank customarily participates at 11:00 a.m. (local time in such interbank market) two (2) Business Days prior to the first day of such Interest Period for a period
approximately equal to such Interest Period and in an amount approximately equal to the amount of such Advance. 
  
 “LIBOR Advance” means an Advance that bears interest based on Adjusted LIBOR. 
  
 “Lien” is a mortgage, lien, deed of trust, charge,
pledge, security interest or other encumbrance. 
  
 “Loan Documents” are, collectively, this Agreement, the Collateral Information Certificates, any note executed by Borrower, the Guaranty and any other present or future agreement between Borrower or Guarantor and/or
for the benefit of Bank in connection with this Agreement, all as amended, extended or restated. 
  
 “Mask Works” are all mask works or similar rights available for the protection of semiconductor chips, now owned or later
acquired. 
  
 “Material Adverse Change”
is: (a) a material impairment in the perfection or priority of Banks’ security interest in the Collateral or in the value of such Collateral; or (b) a material adverse change in the business, operations, or financial condition of Borrower and
Guarantor taken as a whole, which results in a material impairment of the prospect of repayment of any portion of the Obligations. 
  
 “Non-Performing Facility” means, as of any date of determination, a Facility with negative operating cash flow during the period
consisting of the two immediately preceding quarters. 
  
 “Notice of Borrowing” means a notice given by Borrower to Bank in accordance with Section 3.2(a), substantially in the form of Exhibit B, with appropriate insertions. 
  
 “Notice of Conversion/Continuation” means a notice
given by Borrower to Bank in accordance with Section 3.4, substantially in the form of Exhibit C, with appropriate insertions. 
  

 36 

 “Obligations” are debts, principal, interest, Bank Expenses, and other amounts
Borrower owes Bank now or later, including Cash Management Services, Letters of Credit and FX Forward Contracts, if any and including interest accruing after Insolvency Proceedings begin and debts, liabilities, or obligations of Borrower assigned to
Bank. 
  
 “Operating Documents” shall
mean, for any Person, such Person’s formation documents, as currently filed with the Secretary of State of such Person’s state of formation, and, (a) if such Person is a corporation, its bylaws in current form, (b) if such Person is a
limited liability company, its limited liability company agreement (or similar agreement), each of the foregoing with all current modifications and amendments thereto. 
  
 “Other Property” means (a) the following as defined in the Code in effect on the date hereof with
such additions to such term as may hereafter be made, and all rights relating thereto: all present and future “commercial tort claims”, “documents”, “instruments”, “promissory notes”, “chattel
paper”, “letters of credit”, “letter-of-credit rights”, “fixtures”, “farm products” and “money”; and (b) all other goods and personal property of every kind, tangible and intangible, whether or
not governed by the Code, but shall not include Intellectual Property. 
  
 “Patent” means any of the following now hereafter owned or acquired or received by Borrower or in which Borrower now holds or hereafter acquires or receives any right or interest: (a) letters patent and right
corresponding thereto, of the United States or any other country or other foreign jurisdiction, any registration and recording thereof, and any application for letters patent, and rights corresponding thereto, of the United States or any other
country or other foreign jurisdiction, including, without limitation, registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof or any other
country or other foreign jurisdiction; (b) any reissue, continuation, continuation-in-part or extension thereof; (c) any petty patent, divisional, and patent of addition; and (d) any patent to issue in any such application. 
  
 “Permitted Distributions” means: 
  
 (a) purchases of capital stock from former employees, consultants and
directors pursuant to repurchase agreements or other similar agreements; 
  
 (b) distributions or dividends consisting solely of Borrower’s capital stock; 
  
 (c) purchases for value of any rights distributed in connection with any stockholder rights plan; 
  
 (d) payments of dividends or distributions made by any Subsidiary of Borrower
to Borrower or another Subsidiary of Borrower; 
  
 (e) mandatory
dividends provided for under Borrower’s Certificate of Incorporation as in existence as of the Effective Date; 
  
 (f) exchanges of equity securities of Borrower for other equity securities of Borrower that do not provide for any mandatory dividend or redemption prior
to the Revolving Maturity Date; and 
  

 37 

 (g) other distributions, dividends or purchases of Borrower’s capital stock in cash, provided that
the aggregate amount of such distributions, dividends, or purchases made pursuant to this clause (g) not exceeding 25% of Borrower’s assets. 
  
 “Permitted Indebtedness” is: 
  
 (a) Borrower’s indebtedness to Bank under this Agreement or the other Loan Documents; 
  
 (b) Indebtedness existing on the Effective Date and shown on the Collateral Information Certificate; 
  
 (c) Subordinated Debt; 
  
 (d) Indebtedness to trade creditors incurred in the ordinary course of
business; 
  
 (e) capitalized leases and purchase money
Indebtedness secured by Permitted Liens not exceeding $65,000,000; 
  
 (f) Indebtedness secured by Permitted Liens; 
  
 (g)
Indebtedness under any performance, surety, statutory or appeal bonds or similar obligations incurred in the ordinary course of business 
  
 (h) (i) Indebtedness of Borrower to any of its Subsidiaries to the extent it is Subordinated Debt; (ii) Indebtedness of any Subsidiary of Borrower to
another Subsidiary of Borrower; and (iii) Indebtedness of any Subsidiary to Borrower to the extent permitted under clause (h) of the definition of Permitted Investments; 
  
 (i) guaranty obligations of Borrower or any Subsidiary in respect of Permitted Indebtedness of any wholly-owned Subsidiary
of such Person; 
  
 (j) Indebtedness of any Persons acquired in
connection with any merger or acquisition transaction permitted under this Agreement; 
  
 (k) Indebtedness incurred in connection with Rate Contracts; 
  
 (l) obligations resulting from the assumption of a real property lease or sublease to the extent such obligation is treated as a capital lease obligation for accounting purposes only; 
  
 (m) other Indebtedness not otherwise permitted by Section 7.5 not
exceeding $1,000,000 in the aggregate outstanding at any time; and 
  
 (n) extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (j) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to
impose more burdensome terms upon Borrower or its Subsidiary, as the case may be. 
  

 38 

 “Permitted Investments” are: 
  
 (a) Investments shown on the Collateral Information Certificate and existing
on the Effective Date; 
  
 (b) Cash Equivalents; 
  
 (c) Investments consisting of the endorsement of negotiable instruments for
deposit or collection or similar transactions in the ordinary course of Borrower; 
  
 (d) Investments accepted in connection with Transfers permitted by Section 7.1; 
  
 (e) Investments consisting of extensions of credit to Borrower’s or its Subsidiaries’ customers in the nature of accounts receivable, prepaid
royalties or notes receivable arising from the sale or lease of goods, provision of services or licensing activities of Borrower; 
  
 (f) Investments consisting of (i) travel advances and employee relocation loans and other employee loans and advances in the ordinary course of business,
and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to employee stock purchase plans or agreements approved by Borrower’s Board of Directors; 
  
 (g) Investments (including debt obligations) received in connection with the
bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 
  
 (h) (i) Investments of Subsidiaries of Borrower in or to Borrower; (ii)
Investments of Subsidiaries of Borrower in or to other Subsidiaries of Borrower; and (iii) Investments of Borrower in or to Subsidiaries in an amount not to exceed $1,000,000 in any month and $12,000,000 in any fiscal year so long as no Event of
Default exists or would result therefrom; 
  
 (i) Investments
consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not Affiliates, in the ordinary course of business; provided that this paragraph (i) shall not apply to Investments of Borrower
in any Subsidiary; 
  
 (j) Investments resulting from transactions
not prohibited by Section 7.4 or Investments acquired in connection with such transactions; 
  
 (k) Investments consisting of joint ventures entered into by Borrower or any Subsidiary not exceeding $1,000,000 in the aggregate; 
  
 (l) deposits, prepayment and other credits to suppliers made in the ordinary
course of business not in excess of $100,000; and 
  
 (m)
Investments permitted by the investment policy adopted by Borrower’s Board of Directors, a true and correct copy of which has been provided to Bank. 
  

 39 

 “Permitted Liens” are: 
  
 (a) Liens existing on the Effective Date and shown on the Collateral
Information Certificate or arising under this Agreement or other Loan Documents; 
  
 (b) Liens for taxes, fees, assessments or other government charges or levies, either not delinquent or being contested in good faith and for which Borrower maintains adequate reserves on its Books, if they have no
priority over any of Bank’s security interests; 
  
 (c) Liens
(including with respect to capital leases) on property (including accessions, additions, parts, replacements, fixtures, improvements and attachments thereto, and the proceeds thereof) acquired or held by Borrower or its Subsidiaries incurred for
financing such property (including accessions, additions, parts, replacements, fixtures, improvements and attachments thereto, and the proceeds thereof), if the Lien is confined to such property (including accessions, additions, parts, replacements,
fixtures, improvements and attachments thereto, and the proceeds thereof) and the Indebtedness is Permitted Indebtedness; 
  
 (d) Liens to secure existing Indebtedness of any Persons acquired in connection with any merger or acquisition transaction permitted under this Agreement;

  
 (e) licenses or sublicenses granted in the ordinary course of
Borrower’s business and any interest or title of a licensor or under any license or sublicense, if the licenses and sublicenses permit granting Bank a security interest; 
  
 (f) Liens incurred in the extension, renewal or refinancing of the Indebtedness secured by Liens described in (a) through
(d), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase; 
  
 (g) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default under
Section 8.3 or 8.6; 
  
 (h) carriers’,
warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlord’s or other like Liens arising in the ordinary course of business which are not overdue for a period of more than 30 days or which are being contested in good
faith and by appropriate proceeding if adequate reserves with respect thereto are maintained on the books of the applicable Person; 
  
 (i) pledges or deposits in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other social security
legislation; 
  
 (j) deposits to secure the performance of bids,
trade contracts (other than for borrowed money), contracts for the purchase of property, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case, incurred in the ordinary course
of business and not representing an obligation for borrowed money; 
  
 (k) easements, rights-of-way, restrictions and other similar encumbrances affecting real property which do not materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the
business of the applicable Person; 
  

 40 

 (l) statutory, common law or contractual Liens of depository institutions or institutions holding
securities accounts (including rights of set-off) provided they are subordinate to Bank’s Liens pursuant to the terms of a control agreement; 
  
 (m) Liens in favor of customs or revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of
goods; 
  
 (n) Liens on insurance proceeds in favor of insurance
companies granted solely to secure financed insurance premiums; 
  
 (o) purported Liens evidenced by the precautionary filing of UCC financing statements relating solely to operating leases of personal property entered into in the ordinary course of business; and 
  
 (p) Liens on escrowed cash representing a portion of the proceeds of
permitted sales of assets by Borrower or any Subsidiary established to satisfy contingent post-closing obligations that it owes (including earn-outs, indemnities and working capital adjustments). 
  
 “Person” is any individual, sole proprietorship,
partnership, limited liability company, joint venture, company association, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency.

  
 “Prime Rate” is Bank’s most
recently announced “prime rate,” even if it is not the lowest rate offered by Bank. 
  
 “Prime Rate Advance” means an Advance that bears interest based on the Prime Rate. 
  
 “Rate Contract” means swap agreements (as that term is defined in Section 101 of the Federal Bankruptcy Reform Act of 1978, as
amended) and any other agreements or arrangements designed to provide protection against fluctuations in interest or currency exchange rates. 
  
 “Regulatory Change” means, with respect to Bank, any change on or after the date of this Agreement in United States federal,
state, or foreign laws or regulations, including Regulation D, or the adoption or making on or after such date of any interpretations, directives, or requests applying to a class of lenders including Bank, of or under any United States federal or
state, or any foreign laws or regulations (whether or not having the force of law) by any court or governmental or monetary authority charged with the interpretation or administration thereof. 
  
 “Requirement of Law” means, as to any Person, any law
(statutory or common), treaty, rule, regulation, guideline or determination of an arbitrator or of a Governmental Authority, in each case applicable to or binding upon the Person or any of its Property or to which the Person or any of its Property
is subject. 
  
 “Reserve Requirement”
means, for any Interest Period, the average maximum rate at which reserves (including any marginal, supplemental, or emergency reserves) are required to be maintained during such Interest Period under Regulation D against “Eurocurrency
liabilities” (as such term is used in Regulation D) by member banks of the Federal Reserve System. Without 

  

 41 

 
limiting the effect of the foregoing, the Reserve Requirement shall reflect any other reserves required to be maintained by Bank by reason of any Regulatory
Change against (a) any category of liabilities which includes deposits by reference to which Adjusted LIBOR is to be determined as provided in the definition of LIBOR or (b) any category of extensions of credit or other assets which include
Advances. 
  
 “Responsible Officer” is any
of the Chief Executive Officer, President, Chief Financial Officer, Chief Accounting Officer, Controller, Vice President-Finance, or Treasurer of Borrower. 
  
 “Revolving Maturity Date” is December 6, 2006. 
  
 “Revolving Period” means the period from the Effective Date through, and including, the Revolving
Maturity Date. 
  
 “STT” means iSTT
Investments Pte Ltd, a corporation organized under the laws of the Republic of Singapore, as agent for the holders of certain convertible secured notes referred to in the definition of “STT Debt.” 
  
 “STT Debt” means the Indebtedness of Borrower to
certain holders of convertible secured notes due 2007 pursuant to the STT Purchase Agreement. 
  
 “STT Purchase Agreement” means that certain Securities Purchase Agreement dated as of October 2, 2002, by and among Borrower, the guarantors party thereto, and the purchases named therein, as
amended, modified, supplemented or restated from time to time. 
  
 “Securities Account” has the meaning ascribed to it in the Code. 
  
 “Subordinated Debt” is debt incurred by Borrower subordinated to Borrower’s debt to Bank (pursuant to a subordination
agreement entered into among Bank, Borrower and the subordinated creditor), on terms reasonably acceptable to Bank. 
  
 “Subsidiary” is any Person, corporation, partnership, limited liability company, joint venture, or any other business entity of
which more than fifty percent (50%) of the voting stock or other equity interests is owned or controlled, directly or indirectly, by the Person or one or more Affiliates of the Person. 
  
 “Sublimit Utilization Amount” means the sum of (a) all amounts for services utilized under the Cash
Management Services Sublimit, (b) the amount of all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit), and (c) the FX Reserve. 
  

“Term Loan Option” means Borrower’s option to have up to $10,000,000 of the then-outstanding principal amount of the
Advances be repaid pursuant to the terms of Section 2.5(b). 
  
 “Term Loan Option Date” is 364 days from the Effective Date. 
  
 “Term Loan Maturity Date” means the date that is twenty-four (24) months from the Term Loan Option Date. 
  

 42 

 “Trademark” means any of the following now or hereafter owned or acquired or
received by Borrower or in which Borrower now holds or hereafter acquires or receives any right or interest: (a) any trademark, trade name, corporate name, business name, trade style, service mark, logo, other source or business identifier, print or
label on which any of the foregoing have appeared or appear, design or other general intangibles of like nature, now existing or hereafter adopted or acquired, all registrations and recordings thereof, and any applications in connection therewith,
including registration, recording and application in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof or any other country or other foreign jurisdiction and (b) any reissue,
extension or renewal of any of the foregoing. 
  
 “Usage Period” has the meaning ascribed to it in Section 2.7(c). 
  

 43 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first
above written. 
  

									
	BORROWER	 	 	 	EQUINIX, INC.
				
	 	 	 	 	By:	 	 /s/ Peter Van Camp

	 	 	 	 	 Name: Peter Van Camp

	 	 	 	 	 Title: Chief Executive Officer

			
	BANK	 	 	 	SILICON VALLEY BANK
				
	 	 	 	 	By:	 	 /s/ Amanda Peters

	 	 	 	 	 Name: Amanda Peters

	 	 	 	 	 Title: Vice President

	 	 	 	 	 Effective Date: 12/6/04

  

 44 

 TABLE OF CONTENTS 
  

									
	 	  	 	  	 	  	 	  	Page

	1.	  	Accounting and Other Terms	  	1
	2.	  	Loan and Terms of Payment	  	1
	 	  	2.1	  	Promise to Pay	  	1
	 	  	 	  	2.1.1	  	Revolving Advances	  	1
	 	  	 	  	2.1.2	  	Letters of Credit Sublimit	  	2
	 	  	 	  	2.1.3	  	FX Forward Contracts	  	2
	 	  	 	  	2.1.4	  	Cash Management Services	  	2
	 	  	2.2	  	Suspension and Termination of Commitment to Lend; Termination of this Agreement	  	2
	 	  	2.3	  	Overadvances	  	3
	 	  	2.4	  	Interest Rates	  	3
	 	  	2.5	  	Term Loan Option	  	4
	 	  	2.6	  	General Provisions	  	4
	 	  	2.7	  	Fees	  	4
	 	  	2.8	  	Mandatory Prepayment Event	  	5
			
	3.	  	Conditions Of Credit Extensions	  	5
	 	  	3.1	  	Conditions Precedent to Initial Credit Extension	  	5
	 	  	3.2	  	Conditions Precedent to all Credit Extensions	  	6
	 	  	3.3	  	Procedure for the Borrowing of Advances	  	6
	 	  	3.4	  	Conversion and Continuation Elections	  	7
	 	  	3.5	  	Special Provisions Governing LIBOR Advances	  	8
	 	  	3.6	  	Additional Requirements/Provisions Regarding LIBOR Advances	  	10
	 	  	3.7	  	Calculation of Interest and Fees	  	12
			
	4.	  	Creation of Security Interest	  	12
	 	  	4.1	  	Grant of Security Interest	  	12
	 	  	4.2	  	Authorization to File Financing Statements	  	13
			
	5.	  	REPRESENTATIONS AND WARRANTIES	  	13
	 	  	5.1	  	Due Organization and Authorization	  	13
	 	  	5.2	  	Collateral	  	14
	 	  	5.3	  	Litigation	  	14
	 	  	5.4	  	No Material Deterioration in Financial Statements	  	14
	 	  	5.5	  	Solvency	  	14
	 	  	5.6	  	Regulatory Compliance	  	14
	 	  	5.7	  	Subsidiaries	  	15
	 	  	5.8	  	Full Disclosure	  	15
			
	6.	  	AFFIRMATIVE COVENANTS	  	15
	 	  	6.1	  	Government Compliance	  	15
	 	  	6.2	  	Financial Statements, Reports, Certificates	  	16
	 	  	6.3	  	Inventory; Returns	  	17

  

							
	 	  	6.4	  	Taxes	  	18
	 	  	6.5	  	Insurance	  	18
	 	  	6.6	  	Primary Accounts	  	18
	 	  	6.7	  	Financial Covenants	  	18
	 	  	6.8	  	Intentionally Omitted	  	19
	 	  	6.9	  	Further Assurances	  	19
			
	7.	  	NEGATIVE COVENANTS	  	20
	 	  	7.1	  	Dispositions	  	20
	 	  	7.2	  	Changes in Business	  	20
	 	  	7.3	  	Dissolution	  	20
	 	  	7.4	  	Mergers; Consolidations	  	20
	 	  	7.5	  	Indebtedness	  	20
	 	  	7.6	  	Encumbrance	  	20
	 	  	7.7	  	Distributions; Investments	  	21
	 	  	7.8	  	Transactions with Affiliates	  	21
	 	  	7.9	  	Subordinated Debt	  	21
	 	  	7.10	  	Compliance	  	21
			
	8.	  	EVENTS OF DEFAULT	  	22
	 	  	8.1	  	Payment Default	  	22
	 	  	8.2	  	Covenant Default	  	22
	 	  	8.3	  	Material Adverse Change	  	22
	 	  	8.4	  	Attachment	  	22
	 	  	8.5	  	Insolvency	  	23
	 	  	8.6	  	Other Agreements	  	23
	 	  	8.7	  	Judgments	  	23
	 	  	8.8	  	Misrepresentations	  	23
			
	9.	  	RIGHTS AND REMEDIES	  	23
	 	  	9.1	  	Rights and Remedies	  	23
	 	  	9.2	  	Power of Attorney	  	24
	 	  	9.3	  	Intentionally Omitted	  	25
	 	  	9.4	  	Bank Expenses	  	25
	 	  	9.5	  	Bank’s Liability for Collateral	  	25
	 	  	9.6	  	Remedies Cumulative	  	25
	 	  	9.7	  	Demand Waiver	  	25
			
	10.	  	NOTICES	  	25
			
	11.	  	CHOICE OF LAW, VENUE AND JURY TRIAL WAIVER	  	26
			
	12.	  	GENERAL PROVISIONS	  	27
	 	  	12.1	  	Successors and Assigns	  	27
	 	  	12.2	  	Indemnification	  	27
	 	  	12.3	  	Attorneys’ Fees, Costs and Expenses	  	27
	 	  	12.4	  	Right of Set-Off	  	27

  

							
	 	  	12.5	  	Time of Essence	  	28
	 	  	12.6	  	Severability of Provisions	  	28
	 	  	12.7	  	Amendments in Writing, Integration	  	28
	 	  	12.8	  	Counterparts	  	28
	 	  	12.9	  	Survival	  	28
	 	  	12.10	  	Confidentiality	  	28
	 	  	12.11	  	Designation of Obligations as “Designated Senior Debt”	  	29
			
	13.	  	DEFINITIONS	  	29
	 	  	13.1	  	Definitions	  	29

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00079-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00079-of-00352.parquet"}]]