OFFICE LEASE AND ADMINISTRATIVE SUPPORT AGREEMENT
Exhibit 10.1
OFFICE LEASE AND ADMINISTRATIVE SUPPORT AGREEMENT
THIS OFFICE LEASE AND ADMINISTRATIVE SUPPORT AGREEMENT (this "Agreement") is made on September 13, 2018, by and between MedAmerica Properties Inc. ("MedAmerica") and Boca Equity Partners LLC ("BEP").
WHEREAS: The parties desire to provide for a cost-sharing arrangement relating to Banyan's use of a portion of BEP's offices located at ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ (the "Premises"), and certain overhead items at the Premises such as space, utilities and other administrative services.
NOW THEREFORE, the parties agree as follows:
TERMS
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1. |
Term. The term of this Agreement shall be month-to-month, commencing on September 1, 2018 (the "Effective Date"). The office lease and administrative support agreement dated June 8, 2017 between MedAmerica and BEP is terminated effective September 1, 2018. |
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2. |
Shared Costs. BEP shall furnish to MedAmerica the following: |
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a. |
A portion of the Premises, including related janitorial, electrical and other, associated taxes and utility services; |
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b. |
Certain furniture, furnishings, computers and other equipment; |
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c. |
Telephone service, internet access and postage machine, etc.; |
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d. |
Services of ▇▇▇▇▇ ▇▇▇▇ and other general office and administrative support. |
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3. |
Reimbursement of Shared Costs. MedAmerica agrees to reimburse BEP $5,000 per month in advance for the costs of the services and facilities provided hereunder. If the cost of such services and facilities changes subsequently, the parties will negotiate changes in good faith. |
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4. |
Notices. All notices, request, demands and other communications required or permitted under this Agreement shall be given in writing as follows: |
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Boca Equity Partners, LLC ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Tower 1, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Attn: ▇▇▇▇ ▇. ▇▇▇▇▇▇, CEO |
▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Tower 1, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Attn: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ CFO |
Agreed upon as of the Effective Date:
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Boca Equity Partners LLC |
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MedAmerica Properties Inc. |
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/s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇ |
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/s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ |
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By: ▇▇▇▇ ▇. ▇▇▇▇▇▇, CEO |
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By: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, CFO |
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