LEASE SUPPLEMENT NO. 2
(NEWPORT NEWS PROPERTY)
THIS LEASE SUPPLEMENT NO. 2 (this "LEASE SUPPLEMENT") dated as of June 6, 2001, between THE SYMANTEC 2001 TRUST, a Delaware statutory business trust, as lessor (the "GRANTOR"), and SYMANTEC CORPORATION, a Delaware corporation, as lessee (the "GRANTEE").
WHEREAS, the Grantor is the owner or will be the owner of the Property described on SCHEDULE 1 (the "LEASED PROPERTY") and wishes to lease the same to the Grantee pursuant to the Master Lease dated as of March 30, 2001, by and between the Grantor and the Grantee (the "LEASE");
NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
SECTION 1. DEFINITIONS; RULES OF USAGE. For purposes of this Lease Supplement, capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in Annex A to the Participation Agreement dated as of March 30, 2001, by and among the Grantee, the Construction Agent, the Grantor, the trustee of the Trust, the Holders, the Lenders, Fuji Bank, Limited, as documentation agent, KeyBank National Association, as syndication agent, and the Agent.
SECTION 2. THE PROPERTIES. Attached as SCHEDULE 1 is a legal description of the Leased Property. Effective upon the execution and delivery of this Lease Supplement by the Grantor and the Grantee, the Leased Property shall be subject to the terms and provisions of the Lease. Without further action, any and all additional Property or Equipment funded under the Operative Agreements and any and all Improvements made to the Leased Property shall be deemed to be titled to the Grantor and subject to the terms and conditions of the Lease and this Lease Supplement.
This Lease Supplement shall constitute a mortgage, deed of trust, security agreement and financing statement under the laws of the state in which the Leased Property is situated. The maturity date of the obligations secured hereby shall be October 4, 2007 unless otherwise extended by the parties.
For purposes of provisions of the Lease and this Lease Supplement related to the creation and enforcement of the Lease and this Lease Supplement as a security agreement and a fixture filing, Grantee is the debtor and Grantor is the secured party. The mailing addresses of the debtor (Grantee herein) and of the secured party (Grantor herein) from which information concerning security interests hereunder may be obtained are set forth on the signature pages hereto. A carbon, photographic or other reproduction of the Lease and this Lease Supplement or of any financing statement related to the Lease and this Lease Supplement shall be sufficient as a financing statement for any of the purposes referenced herein.
SECTION 3. ALLOCATIONS. The Maximum Residual Percentage for the Leased Property is eighty-five and twenty-nine hundredths percent (85.29%).
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SECTION 4. USE OF PROPERTY. At all times during the Term with respect to the Leased Property, the Grantee will comply with all obligations under and (to the extent no Event of Default exists and provided that such exercise will not impair the value of the Leased Property) shall be permitted to exercise all rights and remedies under, all operation and easement agreements and related or similar agreements applicable to the Leased Property.
SECTION 5. RATIFICATION; INCORPORATION BY REFERENCE. Except as specifically modified hereby, the terms and provisions of the Lease and the other Operative Agreements are hereby ratified and confirmed and remain in full force and effect. The Lease is hereby incorporated herein by reference as though restated herein in its entirety.
SECTION 6. ORIGINAL LEASE SUPPLEMENT. The single executed original of this Lease Supplement marked "THIS COUNTERPART IS THE ORIGINAL EXECUTED COUNTERPART" on the signature page thereof and containing the receipt of the Agent therefor on or following the signature page thereof shall be the original executed counterpart of this Lease Supplement (the "ORIGINAL EXECUTED COUNTERPART"). To the extent that this Lease Supplement constitutes chattel paper, as such term is defined in the Uniform Commercial Code as in effect in any applicable jurisdiction, no security interest in this Lease ...
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