Exhibit 10.34
ELEVENTH AMENDMENT
(1740 TECHNOLOGY)
THIS ELEVENTH AMENDMENT (this "Amendment") is made and entered into as of June 28, 2022 (the "Effective Date"), by and between HUDSON 1740 TECHNOLOGY, LLC, a Delaware limited liability company ("Landlord"), and NUTANIX, INC., a Delaware corporation ("Tenant").
RECITALS
NOW, THEREFORE, in consideration of the above recitals which by this reference are incorporated herein, the mutual covenants and conditions contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows:
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Period of the Eleventh Amendment Extended Term | Annual Rate Per Square Foot (rounded to the nearest 100th of a dollar) |
Monthly Base Rent |
June 1, 2024 – May 31, 2025 | $54.11 | $973,399.36 |
June 1, 2025 – May 31, 2026 | $55.74 | $1,002,601.34 |
June 1, 2026 – May 31, 2027 | $57.41 | $1,032,679.38 |
June 1, 2027 – May 31, 2028 | $59.13 | $1,063,659.77 |
June 1, 2028 – May 31, 2029 | $60.91 | $1,095,569.56 |
June 1, 2029 – May 31, 2030 | $62.73 | $1,128,436.64 |
All such Base Rent shall be payable by Tenant in accordance with the terms of the Lease and shall be subject to all existing rental abatements and concessions set forth therein, including as set forth in Section 1.1 of the Tenth Amendment. The Base Rent set forth in the table above shall be reduced in the event that the Suite 460 Expansion Effective Date and/or the Suite 100 Expansion Effective Date have not yet occurred as of June 1, 2024, such that Base Rent shall be calculated based upon 209,444 rentable square feet if the Suite 460 Expansion Effective Date has not occurred, 213,087 rentable square feet if the Suite 100 Expansion Effective Date has not occurred, and 206,674 rentable square feet if neither the Suite 460 Expansion Effective Date nor the Suite 100 Expansion Effective Date have occurred.
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Period | Annual Rate Per Square Foot (rounded to the nearest 100th of a dollar) | Monthly Base Rent* |
Effective Date – 3/31/2023 | $44.30 | $796,872.09 |
4/1/2023 – 7/31/2023 | $45.63 | $820,896.24 |
8/1/2023 – 5/31/2024 | $50.90 | $915,577.93 |
Notwithstanding anything contained in this Section 7 to the contrary, Base Rent for the Premises shall be partially abated, by the amount of $576,089.00, for the full calendar month of January 2023; provided, however, that if a Default exists when such abatement would otherwise apply, such abatement shall be deferred until the date, if any, on which such Default is cured.
All such Base Rent shall be payable by Tenant in accordance with the terms of the Lease and shall be subject to all existing rental abatements and concessions set forth therein, including as set forth in Section 1.1 of the Tenth Amendment. The Base Rent set forth in the table above shall be reduced in the event that the Suite 460 Expansion Effective Date and/or the Suite 100 Expansion Effective Date have not yet occurred, such that Base Rent shall be calculated based upon 209,444 rentable square feet if the Suite 460 Expansion Effective Date has not occurred, 213,087 rentable square feet if the Suite 100 Expansion Effective Date has not occurred, and 206,674 rentable square feet if neither the Suite 460 Expansion Effective Date nor the Suite 100 Expansion Effective Date have occurred.
Accordingly, pursuant to California Civil Code § 1938(e), Landlord hereby further states as follows: "A Certified Access Specialist (CASp) can inspect the subject premises and determine whether the subject premises comply with all of the applicable construction-related accessibility standards under state law. Although state law does not require a CASp inspection of the subject premises, the commercial property owner or lessor may not prohibit the lessee or tenant from obtaining a CASp inspection of the subject premises for the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee or tenant. The parties shall mutually agree on the arrangements for the time and manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any repairs necessary to correct violations of construction-related accessibility standards within the premises".
In accordance with the foregoing, Landlord and Tenant agree that if Tenant requests a CASp inspection of the Premises, then Tenant shall pay (i) the fee for such inspection, and (ii) except as may be otherwise expressly provided in this Amendment, the cost of making any repairs necessary to correct violations of construction-related accessibility standards within the Premises.
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[Signature Page Follows]
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IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Amendment as of the day and year first above written.
LANDLORD: | HUDSON 1740 TECHNOLOGY, LLC, a Delaware limited liability company By: Hudson Pacific Properties, L.P., a Maryland limited partnership, its sole member By: Hudson Pacific Properties, Inc., a Maryland corporation, its general partner By: /s/ Mark T. Lammas Name: Mark T. Lammas Title: President |
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TENANT: | NUTANIX, INC., a Delaware corporation By: /s/ Aaron Boynton Name: Aaron Boynton Title: Chief Accounting Officer |
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EXHIBIT A
WORK LETTER
As used in this Exhibit A (this "Work Letter"), the following terms shall have the following meanings:
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