No preview available
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. -1- 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. -2- 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: -3-