Vistaprint 2009 Annual Report Download - page 68

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In October 2006, VistaPrint USA, Incorporated, entered into an operating lease for approximately
202,000 square feet of office space in Lexington, Massachusetts. The lease term for this space
commenced on April 27, 2007 and expires on April 26, 2017. Future rental payments required under
the lease are an aggregate of approximately $45 million. The lease requires a security deposit in the
form of a letter of credit in the amount of $728.
In December 2006, our Spanish subsidiary, VistaPrint España S.L., entered into an operating
lease for approximately 19,000 square feet of office space in Barcelona, Spain. The lease term for this
space commenced on January 1, 2007 and expires on December 31, 2011. Future minimum rental
payments required under the lease are an aggregate of approximately 1.0 million euro ($1.4 million
at June 30, 2009). The lease requires a security deposit in the form of a bank guarantee in the amount
of 126 euro ($178 at June 30, 2009).
In November 2007, VistaPrint Schweiz, GmbH, our Swiss subsidiary, entered into an operating
lease for approximately 12,000 square feet of office space in Winterthur, Switzerland. The lease term
for this space commenced on November 1, 2007 and expires on February 28, 2013. Future minimum
rental payments under the lease are an aggregate of approximately 0.8 million Swiss francs ($0.7
million at June 30, 2009). The lease requires a security deposit in the form of a bank guarantee in the
amount of 132 Swiss francs ($122 at June 30, 2009).
In June 2009, VistaPrint France, our French subsidiary, entered into an operating lease for
approximately 3,850 square feet of office space in Paris, France. The lease term for this space
commenced on June 1, 2009 and expires on May 31, 2018. Future minimum rental payments under
the lease are an aggregate of approximately 1.7 million euro ($2.3 million at June 30, 2009). The lease
requires a security deposit in the form of a bank guarantee in the amount of 271 euro ($383 at June 30,
2009).
Purchase Commitments. At June 30, 2009, we had unrecorded commitments under contracts to
expand our Canadian and Dutch production facilities and other facility related commitments of
approximately $349, $1,615 and $1,790, respectively and to purchase production equipment for our
Canadian and Dutch production facilities of approximately $5,699 and $3,320, respectively.
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