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HomeMy WebLinkAboutECAT16-023 American AirlinesTHIRD AMENDMENT
TO
EAGLE COUNTY AIR TERMINAL CORPORATION
TERMINAL BUILDING LEASE
THIS THIRD AMENDMENT to the Eagle County Air Terminal Corporation Terminal
Building Lease (the "Third Amendment") is made and entered into this twelfth day of December,
2016, by and between Eagle County Air Terminal Corporation, a not for profit 63-20
Corporation of the State of Colorado, hereinafter called "CORPORATION" and American
Airlines, Inc., a corporation organized and existing under the laws of the State of Delaware and
authorized to do business in the State of Colorado, hereinafter called "AIRLINE".
RECITALS
The circumstances surrounding the making of this Third Amendment are as follows:
A. CORPORATION and AIRLINE are parties to that certain Terminal Building Lease
dated December 1, 2006, as amended by the First Amendment dated December 1, 2009, and as
further amended by the Second Amendment dated December 1, 2012 (the "LEASE"), under
which AIRLINE operates an AIR TRANSPORTATION business and leases property at the
Eagle County TERMINAL BUILDING.
B. Pursuant to Section 16.19 of the LEASE, the LEASE may be amended in whole or in
part without further consideration upon mutual written consent of CORPORATION and
AIRLINE who both herein intend to amend the LEASE.
C. Pursuant to Section 2.1 of the LEASE, the Term began on December 1, 2006
("Commencement Date") and continued for thirty-six (36) consecutive months thereafter and
was amended by the First Amendment on December 1, 2009 for an additional thirty-six (36)
consecutive months, and was further amended by the Third Amendment on December 1, 2012
for an additional thirty-six (36) consecutive months thereafter.
D. Pursuant to Article 7 of the LEASE, AIRLINE terminal building rent shall be
calculated for each year of the LEASE under certain specified terms.
AMENDMENTS
Section 2.1 of the LEASE is amended by this Third Amendment to read in its entirety as
follows:
The Term of this LEASE (the "Term") shall begin on December 1, 2015
("Commencement Date") and shall terminate in thirty-seven (37) consecutive months
thereafter (except as it may be terminated or extended in accordance with this LEASE),
and the rentals, fees and charges shall be effective on the Commencement Date, but only
in the event that the PREMISES are then tendered to AIRLINE ready for use and
occupancy in accordance with the terms and provisions of this LEASE.
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ECAT16-023
2. Section 6.2.2 of the LEASE is amended by this Third Amendment to read in its entirety
as follows:
Without demand or invoicing for December 2015 and FY 2016, AIRLINE shall pay to
CORPORATION in advance, its total rental amount due in thirteen (13) equal monthly
installments on the 1 st day of each month of the LEASE in accordance with amounts
currently determined in the Calculation of Terminal Building Rent provided in Exhibit B
for each year of the LEASE. For CY 2017 and 2018, AIRLINE shall pay to
CORPORATION in advance, its total annual rental amount due in twelve (12) equal
monthly installments on the 1St day of each month of the LEASE in accordance with
amounts currently determined in the Calculation of Terminal Building Rent provided in
Exhibit B for each year of the LEASE.
3. Sections 6.11.1, 6.11.2 and 6.11.3 of the LEASE are amended by this Third Amendment
to read in their entirety as follows:
6.11.1 AIRLINE shall be required to provide security in an amount equal to one-fourth
(1/4) of the AIRLINE's annual total of TERMINAL BUILDING rent and Other
Charges.
6.11.2 AIRLINE shall file and maintain with the CORPORATION a good and sufficient
corporate surety bond or bonds or other security as may be acceptable to the
CORPORATION. The form and terms of such bond or other security shall be
filed and maintained in accordance with the requirements of the laws of the state
of Colorado and shall be subject to the approval of the CORPORATION.
6.11.3 Not used.
4. Section 6.12 of the LEASE is amended by this Third Amendment with the addition of the
following subsection:
6.12.3 Within ten (10) business days after the end of each month, AIRLINE shall
provide CORPORATION with a written report of passenger enplanements and
deplanements of all revenue passengers, non -revenue passengers and award ticket
passengers for the preceding month for AIRLINE and all of its AFFILIATES.
5. The LEASE Exhibit B is hereby replaced in its entirety by the Exhibit B which is
attached to this Third Amendment and is incorporated into the LEASE by reference
herein.
6. The provisions of the LEASE shall continue in full force and effect except as modified by
this Third Amendment.
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IN WITNESS WHEREOF, the parties hereto or their duly authorized representatives
have executed this Third Amendment on the day and year first written above.
AIRLINE: Americ Airlin s, c.
By:
Kirk Hotelling
Title: Managing Director Airport Affairs & Properties
Date: December 8, 2016
EAGLE COUNTY AIR TERMINAL CORPORATION
By: W I"
Title: � 1�/ar/L
Date: 12/2v/l fa
Approved as to Form:
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