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Ex 10.17
LEASE AMENDING AGREEMENT
THIS AGREEMENT is made as of the 25th of February, 20000
BETWEEN:
302 TOWN CENTRE LIMITED, a corporation
incorporated under the laws of the Province of
Ontario
(hereinafter called the "Landlord")
OF THE FIRST PART
-and-
DELANO TECHNOLOGY CORPORATION, a
corporation incorporated under the laws of the
Province of Ontario
(hereinafter called the "Tenant")
OF THE SECOND PART
WHEREAS:
1. By a lease, dated as of the 17th day of November, 1999, (the "Lease"),
between the Landlord and the Tenant, the Landlord leased to the Tenant certain
premises shown outlined in red on Schedule "C" attached to the Lease (the
"Premises"), being located at 302 Town Centre Boulevard, in the Town of
Markham, in the Province of Ontario (the "Building").
2. The Landlord and the Tenant have agreed to amend the Lease in accordance
with the terms and conditions hereinafter set forth.
NOW THEREFORE THIS AGREEMENT WITNESSES that for good and valuable
consideration (the receipt and sufficiency of which are hereby acknowledged),
the Parties do hereby agree as follows:
1. The Parties hereby confirm that the foregoing recitals are true.
2. The Lease is hereby amended as follows:
(a) The Premises to be leased by the landlord to the Tenant shall be all
rentable space on all of the office floors of the Building, comprised of
approximately 58,000 square feet of rentable area and sections 1.1 and
2.1 are amended accordingly. From and after the date hereof, all
references to the Premises shall be deemed to be references to all
rentable space in the office portion of the Building. Whenever in the
Lease, there is a reference to "Proportionate Share", it is understood
that the Tenant is responsible for 100% of the costs in respect of which
the Proportionate Share calculation was previously being made.
(b) Section 9.6(a) is amended to provide that the Tenant shall be entitled to
have exclusive exterior signage rights on all sides of the top of the
Building.
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(c) Section 9.6(b) is amended to delete the following words: "The Landlord
shall . . . are located."
(d) Section 9.6(d) of the Lease is hereby deleted, on the understanding
that all of the Tenant's signage and directory boards shall be
installed, maintained and removed in accordance with subsections (a),
(b) and (c).
(e) Section 4 of Schedule "F" is hereby deleted.
(f) Section 6 of Schedule "F" is hereby amended to provide that the Tenant
shall be entitled to the use of Two hundred and Fifty (250) parking
spots in common with all other users thereof in the underground
parking facilities and that the Tenant shall be entitled to up to
thirty (30) of such spots being for the Tenant's exclusive use, as in
Section 6 provided.
3. The parties confirm that save as amended hereby the Lease remains
unamended. It is understood and agreed that all terms and expressions when used
in this Agreement, unless a contrary intention is expressed herein, have the
same meaning as they have in the Lease.
4. This Agreement shall be effective from February 22, 2000.
5. This Agreement shall enure to the benefit of and be binding upon the
Parties hereto and their respective successors and assigns.
6. CONSTRUCTION OF PREMISES
Clause 2.4(b)(ii) - Delete - April 1, 2000
Add - May 15, 2000
Provided that all BH drawings have been received and approved no later than
March 5, 2000 and all finishing materials are readily available.
IN WITNESS WHEREOF the Parties hereto have signed and sealed this Agreement
as of the date and year first above written.
)
) 302 CITY CENTRE LIMITED
)
)
) Per: /s/ Louis Reznick
) -----------------------------------
) I have authority to bind the Corporation
)
) DELANO TECHNOLOGY
CORPORATION
)
)
) Per: /s/ David Lewis
) -----------------------------------
) I have authority to bind the Corporation
