Circuit City 2009 Annual Report Download - page 89

Exhibit 10.14
THIRD AMENDMENT TO LEASE
THIS THIRD AMENDMENT TO LEASE (this “Amendment”), dated as of June 26, 2009, is between SC MOTA ASSOCIATES
LIMITED PARTNERSHIP, a Delaware limited partnership (“Landlord”), and TIGERDIRECT, INC., a Florida corporation, doing business as
TigerDirect (“Tenant”).
RECITALS
A. Landlord (as successor in interest to Keystone-Miami Property Holding Corp.) and Tenant entered into a Lease, dated
September 17, 1998, as amended by a Settlement Agreement and Mutual Release dated June 8, 2001, a First Amendment to Lease dated as of
September 5, 2003, and a [Second Amendment to Lease] dated March 22, 2007 (collectively, the “Lease”), pursuant to the terms of which
Landlord leased to Tenant an aggregate of 82,866 rentable square feet of space comprised of Suite 235 containing 63,882 rentable square feet
(the “Office Premises”), Bay M33D containing 15,984 rentable square feet (the “Original Retail Premises”), and Bay E33C containing 3,000
rentable square feet (the “Storage Premises”), all as more particularly described in the Lease and located in Mall of the Americas (which, as of
the date hereof, contains 651,011 rentable square feet of space), Miami — Dade County, State of Florida, on the land described on Exhibit “A”
to this Amendment.
B. Tenant desires to (i) extend the term of the Lease for the Office Premises, the Original Retail Premises and the Storage
Premises (collectively, the “Original Remaining Premises”) for a period of ten (10) years, (ii) lease additional retail space known as Bay M34
containing 25,320 rentable square feet of space and marked as such on Exhibit “B” attached hereto (the “Additional Retail Premises”) for a
period co-terminus with the term of the Original Remaining Premises, and (iii) modify certain other provisions of the Lease.
C. Landlord agrees to such extension, lease of additional space and modifications pursuant to the terms and conditions set forth
herein.
D. Therefore, for good and valuable considerations, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:
AGREEMENT
1. Recitals; Capitalized Terms . The foregoing Recitals are true and correct and are hereby incorporated into this Amendment.
Capitalized terms used but not otherwise defined in this Amendment will have the meanings set forth in the Lease.
2. Leasing of Additional Retail Premises . Landlord hereby agrees to lease to Tenant, and Tenant hereby agrees to lease from
Landlord, the Additional Retail Premises upon the following terms and conditions, subject to the other terms and conditions in the Lease that
affect the Additional Retail Premises:
(a) Additional Retail Premises . Landlord and Tenant agree that for the purposes of all calculations in the Lease, the
rentable square footage of the Additional Retail Premises shall be deemed to be 25,320 rentable square feet.
(b) Additional Retail Term . The lease term (the “Additional Retail Term”) for the Additional Retail Premises shall
commence on the Additional Retail Commencement Date and end on January 3 1, 2020 such that the last day
of the Additional Retail Term shall
be co-terminus with the Original Extension Term (as defined below), subject to Tenant’s extension options in Section 4 of this Amendment.
(c) Additional Retail Commencement Date . The “Additional Retail Commencement Date”
shall be the earlier to occur
of the date that (i) possession of the Additional Retail Premises is tendered to Tenant by Landlord and (ii) Tenant shall occupy any portion of the
Additional Retail Premises. Tenant’s failure to accept possession of the Additional Retail Premises within five (5) days after the date on which
Landlord tenders possession in accordance with this Amendment will constitute an Event of Default under the Lease. Landlord may confirm the
Additional Retail Commencement Date and the Additional Retail Rent Commencement Date (as hereinafter defined) in writing by sending
notice to Tenant. If the Additional Retail Commencement Date or the Additional Retail Rent Commencement Date in such notice is not disputed
by Tenant within five (5) days of receipt, such date(s) shall be deemed correct.
(d) Additional Retail Rent Commencement Date . Notwithstanding anything set forth herein to the contrary, but
provided no Event of Default exists (beyond any applicable notice and cure period), Tenant’s obligations for Annual Rent, Tenant’s Percentage
Share of Operating Expenses (as defined below) and Tenant’s Percentage Share of Real Estate Taxes (as defined below) shall be abated for a
period (the “Free Rent Period”) of twelve (12) months commencing on the Additional Retail Commencement Date. Tenant’s obligations for
Annual Rent, Tenant’s Percentage Share of Operating Expenses and Tenant’
s Percentage Share of Real Estate Taxes shall commence on the first
day following the Free Rent Period; provided, however, that if an Event of Default occurs during the Free Rent Period, Tenant shall have no
further right to the abatement set forth in this Section 2(d) and shall commence the payment of Monthly Installments of Annual Rent, Tenant’s
Percentage Share of Operating Expenses and Tenant’s Percentage Share of Real Estate Taxes for the Additional Retail Premises on the first day
following the occurrence of such Event of Default. Furthermore, if Event of Default occurs during or after the Free Rent Period, then in addition
to any other costs, damages and unpaid rent that Tenant may owe to Landlord, Tenant shall further owe to Landlord the total sum of the Annual
Rent and other rent abated by Landlord during the Free Rent Period. The date on which Tenant’s obligation to commence paying Annual Rent,
Tenant’s Percentage Share of Operating Expenses and Tenant’s Percentage Share of
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