Document:

Exhibit 4.4

 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

OCCIDENTAL PETROLEUM CORPORATION

 

2.70% SENIOR NOTE DUE 2023

 

	
NO. [·]-[·]
    	
PRINCIPAL AMOUNT:
    
	
 
    	
U.S.$[                    ]
    
	
 
    	
 
    
	
 
    	
CUSIP:  674599CE3
    
	
 
    	
ISIN:  US674599CE35
    
	
 
    	
COMMON CODE:  079833665
    

 

	
ORIGINAL ISSUE DATE:
    	
June 22, 2012
    
	
MATURITY DATE:
    	
February 15, 2023
    
	
INTEREST RATE:
    	
2.70% per annum
    
	
INTEREST PAYMENT DATES:
    	
February 15 and August 15, commencing February 15, 2013
    
	
REGULAR RECORD DATES:
    	
February 1 and August 1
    
	
REDEMPTION DATE/PRICE:
    	
See Further Provisions Set Forth Herein
    

 

OCCIDENTAL PETROLEUM CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (herein referred to as the “Company,” which term includes any successor under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the lesser of (i) the Principal Amount specified above and (ii) the Principal Amount set forth on the Schedule of Exchanges of Interests in the Global Note attached hereto on the Maturity Date specified above (unless and to the extent earlier redeemed prior to such Maturity Date) and to pay interest thereon from June 22, 2012 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on February 15 and August 15 in each year, commencing on February 15, 2013, at the rate per annum specified above, until the principal hereof is paid or made available for payment.  Interest on this Note will be computed on the basis of a 360-day year comprised of twelve 30-day months.  Interest payments for this Note will include interest accrued to but excluding each Interest Payment Date.  The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date, which shall be the February 1 or August 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest

 

 

Payment Date.  If any Interest Payment Date or Maturity with respect to this Note falls on a day that is not a Business Day, the payment due on such Interest Payment Date or Maturity will be made on the next succeeding Business Day with the same force and effect as if made on such Interest Payment Date or Maturity, and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date or Maturity, as the case may be, until such following Business Day.  Except as otherwise provided in the Indenture, any Defaulted Interest will forthwith cease to be payable to the Holder on the Regular Record Date with respect to such Interest Payment Date by virtue of having been such Holder and may either (1) be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee (as defined below), notice of which will be given to Holders of Notes not less than 10 days prior to such Special Record Date, or (2) be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.  Payment of the principal of and interest on this Note will be made at the Corporate Trust Office of the Trustee in the Borough of Manhattan, The City of New York, or at the office or agency of the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York, or at any other office or agency designated by the Company for such purpose, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided that, at the option of the Company, payment of interest due on any Interest Payment Date may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer of immediately available funds if appropriate wire transfer instructions have been received in writing by the Trustee not less than 15 days prior to the applicable Interest Payment Date.

 

Reference is hereby made to the further provisions of this Note set forth below, which further provisions shall for all purposes have the same effect as if set forth at this place.

 

Unless the certificate of authentication hereon has been executed by the Trustee or its duly appointed co-authenticating agent by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 

[signature page follows]

 

2

 

IN WITNESS WHEREOF, OCCIDENTAL PETROLEUM CORPORATION has caused this Note to be signed by the signature or facsimile signature of its Chairman of the Board, its President, a Vice President, its Treasurer or an Assistant Treasurer and attested by its Secretary or an Assistant Secretary by his or her signature or a facsimile thereof.

 

Dated:  June 22, 2012

 

	
 
    	
OCCIDENTAL PETROLEUM CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:  Christopher G. Stavros
    
	
 
    	
 
    	
Title:  Vice President and   Treasurer
    

 

Attest:

 

 

	
 
    	
 
    
	
Name:  Linda S. Peterson
    
	
Title:  Assistant Secretary
    

 

Signature Page to Note

 

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture.

 

Dated:  June 22, 2012

 

The Bank of New York Mellon Trust Company, N.A., as Trustee

 

 

	
By:
    	
 
    	
 
    
	
 
    	
Authorized Signatory
    	
 
    

 

Signature Page to Note

 

 

This Note is one of a duly authorized issue of securities (herein called the “Securities”) of the Company, issued and to be issued pursuant to the Indenture. This Note is one of a series designated by the Company as its 2.70% Senior Notes due 2023 (the “Notes”), limited in initial aggregate principal amount to $1,250,000,000.  The Indenture does not limit the aggregate principal amount of the Securities.

 

The Company issued this Note pursuant to an Indenture, dated as of August 18, 2011 (herein called the “Indenture” which term, for the purpose of this Note, shall include the Officers’ Certificate dated June 22, 2012, delivered pursuant to Sections 201 and 301 of the Indenture), between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered.

 

The Notes are issuable as Registered Securities, without coupons, in denominations of $2,000 and any amount in excess thereof which is an integral multiple of $1,000.  As provided in the Indenture and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes of like tenor of any authorized denomination, as requested by the Holder surrendering the same, upon surrender of the Note or Notes to be exchanged at any office or agency described below where Notes may be presented for registration of transfer.

 

The Company may, from time to time, without notice to or the consent of the Holders of the Notes, reopen this series of Notes and issue additional Notes.

 

The Notes are redeemable, in whole at any time or in part from time to time prior to November 15, 2022, at the option of the Company at a Redemption Price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed (not including any portion of such payments of interest accrued to, but not including, the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year comprised of twelve 30-day months) at the Adjusted Treasury Rate (as defined herein) plus 20 basis points plus, in each case, accrued and unpaid interest on the principal amount of the Notes being redeemed to, but not including, the Redemption Date.  On and after November 15, 2022, the Notes are redeemable, in whole at any time or in part from time to time, at the option of the Company at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest on the principal amount of the Notes being redeemed to, but not including, the Redemption Date. Notwithstanding the foregoing, installments of interest whose Stated Maturity is on or prior to the relevant Redemption Date shall be payable to the Holders of the Notes, or one or more Predecessor Securities, of record at the close of business on the relevant Regular Record Dates according to their terms and the provisions of the Indenture.

 

“Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,

 

5

 

assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date.

 

“Comparable Treasury Issue” means, with respect to any Redemption Date, the United States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes.

 

“Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer than three Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations, such average in any case to be determined by the Quotation Agent, or (iii) if only one Reference Treasury Dealer Quotation is received, such Reference Treasury Dealer Quotation.

 

“Quotation Agent” means, with respect to any Redemption Date, the Reference Treasury Dealer appointed by the Company.

 

“Reference Treasury Dealer” means, with respect to any Redemption Date, (i)  J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and a Primary Treasury Dealer (as defined below) selected by Wells Fargo Securities, LLC (or their respective affiliates which are primary U.S. Government securities dealers) and their respective successors; provided, however, that if any of them shall cease to be a primary U.S. Government securities dealer in the United States of America (a “Primary Treasury Dealer”), the Company shall substitute for it another Primary Treasury Dealer, and (ii) any other Primary Treasury Dealer or Dealers selected by the Company.

 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m. (New York City time) on the third Business Day in The City of New York preceding such Redemption Date.

 

Notice of any redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each Holder of the Notes to be redeemed, all as more fully provided in the Indenture.  Unless the Company defaults in payment of the Redemption Price (or any accrued and unpaid interest on the Notes or portions thereof to be redeemed), on and after the Redemption Date interest will cease to accrue on the Notes or portions thereof called for redemption.  If less than all of the Notes are to be redeemed, the Notes (or portions thereof) to be redeemed shall be selected by the Trustee by such method as the Trustee shall deem fair and appropriate, all as more fully provided in the Indenture.

 

All notices of redemption shall state the Redemption Date, the Redemption Price, if fewer than all the Outstanding Notes are to be redeemed, the identification (and, in the case of

 

6

 

partial redemption, the principal amounts) of the particular Notes to be redeemed, that on the Redemption Date the Redemption Price will become due and payable upon each Note, or portion thereof, to be redeemed, together with accrued and unpaid interest thereon, that interest on each Note, or portion thereof, called for redemption will cease to accrue on the Redemption Date and the place or places where Notes may be surrendered for redemption.

 

In the event of redemption of this Note in part only, a new Note or Notes of like tenor in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal amount hereof will be issued in authorized denominations in the name of the Holder hereof upon surrender hereof.

 

For all purposes of this Note and the Indenture, unless the context otherwise requires, all provisions relating to the redemption by the Company of this Note shall relate, in the case that this Note is redeemed, or to be redeemed, by the Company only in part, to that portion of the principal amount of this Note that has been, or is to be, redeemed.

 

If an Event of Default with respect to Notes shall occur and be continuing, the principal of and accrued interest on the Notes may be declared due and payable in the manner and with the effect provided in the Indenture.

 

The Indenture permits, in certain circumstances therein specified, the amendment thereof without the consent of the Holders of the Securities.  The Indenture also permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations under the Indenture of the Company and the rights of Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Securities at the time Outstanding of each series to be affected.  The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all the Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences.  Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.

 

No reference herein to the Indenture and no provision of this Note, subject to the provisions for satisfaction and discharge in Article Four of the Indenture, shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed.

 

The Indenture permits the Company, by irrevocably depositing cash or U.S. Government Obligations, in amounts and maturities sufficient to pay and discharge at the Stated Maturity or Redemption Date, as the case may be, the entire indebtedness on all Outstanding Notes, with the Trustee in trust, solely for the benefit of the Holders of all Outstanding Notes, to defease the Indenture with respect to the Notes (subject to specified exceptions), and, upon such deposit and satisfaction of the other conditions set forth in the Indenture, the Company shall be deemed to have paid and discharged its entire indebtedness on the Notes.

 

7

 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of Notes is registrable in the Security Register, upon surrender of a Note for registration of transfer at the Corporate Trust Office of the Trustee or at the office or agency of the Trustee maintained for such purpose in the Borough of Manhattan, The City of New York, or at such other offices or agencies as the Company may designate, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder thereof or his attorney duly authorized in writing, and thereupon one or more new Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

 

No service charge shall be made by the Company, the Trustee or the Security Registrar for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith (other than exchanges pursuant to Sections 304, 305, 906 or 1107 of the Indenture not involving any transfer).

 

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

This Note shall be governed by and construed in accordance with the law of the State of New York (without regard to conflicts of laws principles thereof).

 

Customary abbreviations may be used in the name of a Holder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with right of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act).

 

All undefined terms (whether or not capitalized) used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

8

 

ASSIGNMENT FORM

 

To assign this Note, fill in the form below:

 

(I) or (we) assign and transfer this Note to

 

	
 
    
	
(Insert assignee’s soc. sec. or tax I.D. no.)
    
	
 
    
	
 
    
	
 
    
	
 
    
	
 
    
	
 
    
	
 
    
	
 
    
	
(Print or type assignee’s name, address and zip code)
    

 

and irrevocably appoint                                                                                                                                                                                 to transfer this Note on the books of the Company.  The agent may substitute another to act for him.

 

	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
 
    	
 
    

 

	
 
    	
Your Signature:
    	
 
    
	
 
    	
(Sign exactly as   your name(s) appear(s) on the face of this Note)
    

 

Signature Guarantee*

 

	
 
    

 

*NOTICE:  The signature must be guaranteed by an institution that is a member of one of the following recognized signature guarantee programs:  (i) The Securities Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee.

 

9

 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

 

The initial outstanding principal amount of this Global Note is $[·].  The following exchanges of an interest in this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of an interest in another Global Note or Definitive Notes for an interest in this Global Note, have been made:

 

	
Date of
   Exchange
    	
 
    	
Amount of
   Decrease in
   Principal
   Amount of this
   Global Note
    	
 
    	
Amount of
   Increase in
   Principal
   Amount of this
   Global Note
    	
 
    	
Principal
   Amount of this
   Global Note
   Following Such
   Decrease (or
   Increase)
    	
 
    	
Signature of
   Authorized
   Officer of
   Trustee or
   Security
   Custodian
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

10ex10_1.htm

Exhibit 10.1

 

SECOND AMENDMENT TO TRI-POINTE OFFICE LEASE

 

THIS SECOND AMENDMENT TO TRI-POINTE OFFICE LEASE (“Second Amendment”) is made and entered into this 5th day of June, 2012 (“Effective Date”) by and between Tri Pointe Tucson, LLC, a California limited liability company (“Landlord”) and Scientific Learning Corporation, a Delaware corporation (“Tenant”).

WITNESSETH:

WHEREAS, Landlord and Tenant executed that certain Tri-Pointe Office Lease dated April 5, 2006, as amended by the First Amendment to Lease dated February 28, 2008, (collectively the “Lease”), for those premises located at 6367 E. Tanque Verde Road, Suite 10, Tucson, Arizona (the “Demised Premises”).

WHEREAS, the Lease Term currently expires May 31, 2013;

WHEREAS, the parties desire to amend the Lease to reflect: (i) an extension of the Lease Term; (ii) a relocation of Tenant’s Demised Premises and expansion of the square footage of the Demised Premises; (iii) a modification of Tenant’s Base Rent schedule; and (iv) various other terms as set forth below.

NOW, THEREFORE, in consideration of the covenants and agreements contained herein, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties do hereby agree as follows:

1.           LEASE TERM:  The Lease Term is hereby extended for a period of fifty-one (51) months commencing June 1, 2013 and ending August 31, 2017 (the “Extension Term”).

2.           DEMISED PREMISES.   On September 1, 2012 (the “Expansion Date”), Tenant shall  vacate 6367 E. Tanque Verde Rd., Suite 10 consisting of approximately 6,167 rentable square feet, and Tenant shall relocate its business and occupy 6375 E. Tanque Verde Rd., Suite 200, (the “Expansion Space”), consisting of approximately 10,823 rentable square feet, as further depicted on Exhibit “A” attached hereto.  From and after the Expansion Date, the Expansion Space shall be the Demised Premises for the duration of the Lease Term, including the Extension Term.

3.           EARLY OCCUPANCY.  Tenant may occupy the Expansion Space prior to the Expansion Date upon Landlord’s completion of the improvements to the Expansion Space described in Section 7 of this Second Amendment, subject to all of the provisions of the Lease.  Notwithstanding anything to the contrary in the Lease, during the early occupancy period, Tenant shall not be required to pay Monthly Base Rent and or any other charges specified in this Lease.  Early occupancy of the Expansion Space by Tenant shall not advance the Termination Date of this Lease.

4.           BASE RENT:  Commencing on the Expansion Date, Base Rent for the Demised Premises shall be payable to Landlord, without offset or deduction, in monthly installments plus applicable tax, if any, for the following periods as follows:

 

Tri Pointe - Scientific Learning Second Amendment

  

1

  

	
Period

	 	
Base Annual Rent

(approx. per leasable 

square foot)

	 	 	
Base Monthly Rent

(payable in monthly 

installments)

	 
	
9/01/2012– 8/30/2013

	 	$	19.50	 	 	$	17,587.38	 
	
9/01/2013 – 8/30/2014

	 	$	19.99	 	 	$	18,027.06	 
	
9/01/2014 – 8/30/2015

	 	$	20.49	 	 	$	18,477.74	 
	
9/01/2015 – 8/30/2016

	 	$	21.00	 	 	$	18,939.68	 
	
9/01/2016 – 8/30/2017

	 	$	21.52	 	 	$	19,413.17	 

During the Extension Term, in addition to Base Rent, Tenant shall continue to pay all other amounts due under the Lease, including but not limited to Tenant’s share of Operating Costs, Utility Costs and Taxes.

5.           TENANT’S SHARE OF OPERATING COSTS.  From and after the Expansion Date and continuing through the Extension Term, , Section 1L of the Lease is hereby amended to increase Tenant’s share of the total leasable area of Tri-Pointe Plaza from 4.04% to  7.09% and this percentage shall be used to calculate Tenant’s share of any increase in Operating Costs, Utility Costs and Taxes over Tenant’s Base Year.

6.           BASE YEAR. From and after the Expansion Date, the Base Year set forth in Section 1K of the Lease is hereby changed to 2012.  Thereafter, all future calculations of Tenant’s share of increases in Operating Costs, Utility Costs and Real Estate Taxes shall be based upon the Base Year of 2012.

7.           TENANT IMPROVEMENTS.  Prior to the Expansion Date, Landlord shall, at Landlord’s sole cost and expense, provide the following improvements to the Demised Premises, as more particularly set forth on the floor plan attached hereto as Exhibit “A”:

	 	
a. 

	
Divide offices with building standard wall system along perimeter of Premises.

	 	
b. 

	
Provide additional glass wall and system as needed to complete office divisions.

	 	
c. 

	
Provide and install Building Standard interior doors.

	 	
d. 

	
Paint the interior of the Premises. Color to be determined by Tenant.

	 	
e. 

	
Professional clean, or replace as needed, existing interior carpeting.

	 	
f. 

	
Deliver all existing improvements in proper working order.

	 	
g. 

	
Premises shall be compliant with Americans with Disability Act (ADA) as of the date Landlord delivers the Premises to Tenant.

8.           PARKING Tenant shall have the use of fifteen (15) covered reserved parking spaces for the Lease Term, including the Extension Term, at no charge.  The location of such spaces shall be determined, or changed, by Landlord at Landlord’s sole discretion.

 

Tri Pointe - Scientific Learning Second Amendment

  

2

  

 

9.           RIGHT OF FIRST OFFER.  If at any time during the Lease Term or any extension thereof any space within 6375 E. Tanque Verde, excluding any vacancy existing as of the Effective Date becomes vacant (“Vacant Space”) and Landlord decides to release such Vacant Space, Landlord shall give Tenant notice (“First Notice”) of the business terms on which Landlord would be willing to lease such Vacant Space.  Tenant shall have ten (10) days following receipt of the First Notice to give Landlord notice of its intention to lease the Vacant Space on the business terms set forth in the First Notice.  The parties shall then negotiate in good faith to reach an agreement regarding the remaining terms and conditions of the lease and shall enter into a lease for the Vacant Space.  If Tenant fails to notify Landlord within the ten (10)  day period, Landlord shall be free to lease the Vacant Space to a third party without re-offering it to Tenant, provided such lease may not be on terms more favorable to the third party than those offered to Tenant in the First Notice.  In the event the Landlord is unable to lease the Vacant Space to a third party on the business terms provided in the First Notice, and Landlord desires to lease the Vacant Space to a third party on terms more favorable to the third party than those offered to Tenant, Landlord shall give Tenant notice (“Subsequent Notice”) of the proposed new business terms on which Landlord desires to lease the Vacant Space to a third party.  Tenant shall have five (5) days following receipt of a Subsequent Notice to give Landlord notice of its intention to lease the Vacant Space on the business terms contained in such Subsequent Notice.  If Tenant fails to notify Landlord within the five (5) day period, Landlord shall be free to lease the Vacant Space to a third party without re-offering it to Tenant.

10.         RELOCATION.  Article 55 of the Lease Relocation is hereby deleted in its entirety and shall be of no further force or effect.

11.         BROKERAGE.  Landlord and Tenant agree that Mark Irvin of Mark Irvin Commercial Real Estate Services, LLC (“Tenant’s Broker”) exclusively represents the Tenant in connection with this Second Amendment.  Upon full execution of this Second Amendment and satisfaction of all contingencies to this Second Amendment, Landlord agrees to pay a Tenant’s Broker a leasing commission in connection with this Second Amendment equal to two and one-half percent (2.5%) of the total Annual Base Rent payable by Tenant to Landlord during the Extension Term, as defined herein.

 

12.         CONFIDENTIALITY.  Tenant acknowledges that this Second Amendment is confidential and that Landlord shall suffer irreparable damage if the contents of this Second Amendment are discovered by the other tenants at Tri-Pointe Plaza, or any other third parties.  Therefore, Tenant agrees that neither it nor its employees, agents, representatives or attorneys, shall disclose, release or discuss the contents of this Second Amendment to or with any third party for any reason.  Tenant agrees to reimburse, indemnify, defend and hold Landlord harmless against any and all losses, claims, suits, damages and liabilities resulting from the breach of the foregoing agreement of Tenant contained in this Section 8.  In the event Tenant breaches its agreement under this Section 8 such breach shall constitute an event of default by Tenant under the Lease, without notice or opportunity to cure.  Notwithstanding the foregoing, Landlord acknowledges that Tenant may file this Second Amendment with the Securities and Exchange Commission as part of Tenant’s periodic filings as a material agreement of Tenant, and any such filing shall not be a breach by Tenant of this Section 12.

 

13.         EXISTENCE OF OFFSETS, CREDITS, CLAIMS, CAUSES OF ACTION OR EXPENSES.   Tenant hereby represents and warrants to Landlord that, to the best of Tenant’s knowledge, Landlord is not in default under the Lease and Tenant has no offsets or credits against rentals nor have any rentals been paid in advance.  Further, Tenant agrees that there are no existing claims or causes of action against Landlord arising out of the Lease, nor are there any existing defenses which Tenant has against the enforcement of the Lease by Landlord, in each case to the best of Tenant’s knowledge.

 

14.         NO WAIVER.  By entering into this Second Amendment, Landlord does not waive any existing default under the Lease or any default hereafter occurring, or become obligated to waive any condition or obligation in any agreement between or among the parties hereto.  Landlord hereby represents and warrants to Tenant that, to the best of Landlord’s knowledge, Tenant is not in default under the Lease.  Further, Landlord agrees that, to the best of Landlord’s knowledge, there are no existing claims or causes of action against Tenant arising out of the Lease, nor are there any existing defenses which Landlord has against the enforcement of the Lease by Tenant, in each case to the best of Landlord’s knowledge.

 

Tri Pointe - Scientific Learning Second Amendment

  

3

  

 

15.         BINDING EFFECT.  This Second Amendment shall be binding upon and inure to the benefit of the parties hereto, their respective heirs, administrators, guarantors, executors, successors and assigns.

16.         MISCELLANEOUS:  All terms not specifically defined herein are as defined in the Lease.  Except as amended or modified by this Second Amendment, all terms and conditions of the Lease shall remain in full force and effect and Landlord and Tenant shall be bound thereby.  This Second Amendment may be executed in one or more counterparts, which counterparts shall together constitute an original document.  In the event of a conflict between the terms of this Second Amendment and the terms of the Lease, the terms of this Second Amendment shall prevail and be controlling.

17.         TIME:  Time is of the essence of this Second Amendment to the Lease.

18.         APPROVAL OF LANDLORD’S LENDER.  This Second Amendment is subject to and contingent upon the approval of the Landlord’s lender.  In the event the approval of Landlord’s lender to this Second Amendment is not obtained on terms satisfactory to Landlord by the date which is forty (40) days after the Effective Date (the “Deadline”), Tenant shall have the option to terminate this Second Amendment by providing Landlord with not less than three (3) days advanced written notice.  After the expiration of Tenant’s  three (3) day notice, this Second Amendment shall be null and void and of no further force and effect thereafter.  The Deadline may be extended by written agreement of Landlord and Tenant.

 

(Signatures on following page)

 

Tri Pointe - Scientific Learning Second Amendment

  

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IN WITNESS WHEREOF, the Landlord and the Tenant have signed this Second Amendment to Lease to be executed and made effective as of the Effective Date.

 

TENANT:

SCIENTIFIC LEARNING CORPORATION,

a Delaware corporation

 

	
By

	
/s/ Andy Myers

	  

 

	
Date Executed:

	
6-11-12

	  

LANDLORD:

Tri Pointe Tucson, LLC, a California limited liability company

 

By:  West Valley Properties, Inc., a California corporation

Its:  Manager

	  	
By:

	
  /s/ Jon Rayden

	  

 

	  	
Title:

	
 President

	  

 

	  	
Date Executed:

	
 6/18/12

	  

By:  Guardian Equity Growth, LLC, a California limited liability company

Its:  Manager

	  	
By:

	
/s/ Jerry Moison

	  

 

	  	
Title:

	
Manager

	  

 

	  	
Date Executed:

	
6/18/12

	  

Tri Pointe - Scientific Learning Second Amendment

  

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EXHIBIT “A”

 

 

Tri Pointe - Scientific Learning Second Amendment

 

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