Exhibit 10.37
SURRENDER OF LEASE
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THIS SURRENDER made as of June 18, 2002
BETWEEN:
INFOWAVE SOFTWARE, INC.
▇▇▇ - ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
▇▇▇▇▇▇▇, ▇.▇. ▇▇▇ ▇▇▇
(the "Tenant")
AND:
TONKO REALTY ADVISORS (B.C.) LTD. as Agent of the Owners
(formerly known as Tonko-Novam Management Ltd. and Tonko
Development (B.C.) Ltd.)
▇▇▇ - ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇, ▇.▇. ▇▇▇ ▇▇▇
(the "Landlord")
WHEREAS:
A. Pursuant to that certain Indenture of Lease dated August 12, 1999 (the
"Lease") the Landlord did demise and lease unto the Tenant the premises
known as Suite 184 and comprising 1,755 square feet in the building located
at ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ in Burnaby, B.C. (the "Leased Premises"), shown as
outlined in black on the sketch plan attached as Schedule "A" to the Lease
and being part of those lands and premises situate, lying and being in the
City of Burnaby in the Province of British Columbia and more particularly
known and described as:
▇▇▇ ▇▇ "▇" ▇▇▇▇▇▇ firstly: the west 150 feet, secondly:
part now road on
statutory right of way Plan 4957 District ▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇
(▇▇▇ "Lands");
B. The Leased Premises demised by the Lease are vested in the Tenant for the
unexpired residue of the Term subject to a sublease of the Leased Premises
to Strydent Software Inc. under a sublease dated August 31, 2000 (the
"Sublease");
C. At the request of the Tenant, the Landlord has agreed to accept a surrender
of the Lease subject to the Sublease, such surrender to be made as at 12:01
a.m. on July 1, 2002 (the "Effective Time") and on the terms as herein
contained;
NOW THEREFORE THIS SURRENDER WITNESSES that in consideration of the premises and
the sum of $10.00 and other good and valuable consideration (the receipt and
sufficiency whereof the parties hereby acknowledge), the parties covenant and
agree as follows:
1. The Tenant as the person presently entitled to occupy the Leased Premises
hereby assigns and surrenders to the Landlord effective at the Effective
Time, the Leased Premises and the Lease subject to the Sublease. The
Tenant, for itself, its successors and assigns, hereby covenants with the
Landlord that the Tenant will deliver up possession of the Leased Premises
to the Landlord at the Effective Time subject to the rights of the
subtenant under the Sublease, and that the Tenant has good right, full
power and authority to surrender the Leased Premises and the Lease subject
to the rights of the subtenant pursuant to the Sublease.
2. The Tenant represents and warrants to the Landlord, as representations and
warranties that are true on the date of execution of this Agreement and
shall survive the completion of this surrender, that:
(a) the Sublease is in full force and effect, unamended;
(b) there is no default on the part of the sublandlord or the subtenant
under the Sublease;
(c) all the subsisting rights and all subsisting obligations of the
subtenant and the sublandlord, respectively, under the Sublease
including without limitation those related to tenant inducements,
rental abatements or concessions, are as contained in the Sublease
presented to
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the Landlord by the Tenant and there are no other agreements between
the subtenant and the sublandlord under the Sublease now in effect
pertaining to such rights and obligations;
(d) the Sublease has been validly authorized, executed and delivered;
(e) the Sublease has not been cancelled, surrendered, modified, assigned
or renewed and is in full force and effect and the subtenant has
accepted possession, and is in occupation of the leased premises as
defined in the Sublease and is paying rent upon the terms of the
Sublease;
(f) rent has been paid under the Sublease to date and has not been prepaid
except as provided in the Sublease and the fixed basic rent at present
payable pursuant to the Sublease is $1,608.75 per month;
(g) the Tenant will not amend, modify or surrender the Sublease or accept
any prepayment of rent other than the current month's rent without the
prior written consent of the Landlord;
(h) there is no existing default by either the sublandlord or the
subtenant under the Sublease;
(i) there are no set-offs, defences or counterclaims by the subtenant in
respect of the payment of rent or the enforcement of the obligations
to be performed by the sublandlord under the Sublease nor any
agreement between the subtenant and the sublandlord abating or
deferring any past, present or future rent except as set out in the
Sublease;
(j) no litigation or governmental or municipal proceeding has been
commenced or is pending or threatened by or against the sublandlord
with respect to the subleased premises and the subtenant is in
compliance with all applicable laws with respect to its occupancy of
the subleased premises;
(k) all improvements to be provided by the sublandlord under the Sublease
or under any antecedent agreement relating thereto, have been
completed to the satisfaction of the subtenant and all allowances on
account of such subtenant's improvements or any tenant inducements in
kind or money, including rental abatements or concessions, have been
paid in full by the sublandlord; and
(l) the deposit including all interest thereon that accrues to the benefit
of the subtenant, now held by the sublandlord, is $ - and the same
shall be paid by the Tenant to the Landlord concurrently with the
execution of this Surrender.
3. The Landlord hereby accepts the surrender by the Tenant of the Leased
Premises as aforesaid and hereby releases the Tenant from any liability,
claim and demand in respect of all or any of the covenants contained in or
otherwise arising under the Lease from the Effective Time, provided that
the Tenant has delivered possession of the Leased Premises to the Landlord
on or before the Effective Time in accordance with the terms of this
Surrender, and subject to the survival of the representations, warranties
and covenants of the Subtenant herein contained, which are not released and
which shall remain in full force and effect.
4. The Tenant hereby releases the Landlord from any and all liability, claim
and demand in respect of all or any of the covenants contained in or
otherwise arising under the Lease, excluding any liability, claim or demand
in respect of the obligations as sub-landlord with respect to the Sublease
arising from and including the Effective Time.
5. This Agreement shall enure to the benefit of and be binding upon the
parties hereto and their respective successors and assigns.
6. The parties agree to do and execute, or cause to made, done or executed,
all such further and other lawful acts, deeds, things, devices, conveyances
and assurances in law or equity whatsoever from time to time and at all
times upon every reasonable request of the other to give effect to the
intent of this Agreement.
7. Time is expressly declared to be of the essence of this Agreement and of
each and every term, covenant, agreement, condition and provision hereof or
arising hereunder and observance and performance thereof.
8. All notices, demands and other writings (hereinafter called a "Notice")
contemplated to be given, made or sent, by either party to the other shall
be in writing addressed to the other at its address hereinbefore given, or
if any party has notified the other in writing of a change of its address,
at the last address of which notice has been given pursuant to this clause.
Any Notice shall be deemed to have been received on the date of actual
delivery if delivered, or the date of receipt at such address if mailed, or
the date of confirmation of transmission if sent by facsimile transmission.
No other method of delivery or giving of written notice or demand is
precluded by this clause.
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9. The waiving by a party hereto of a breach of an obligation hereunder of the
other party will not be considered to be a waiver of a subsequent breach of
that obligation or another obligation. No obligation in this Agreement will
be considered to have been waived by a party unless the waiver is in
writing signed by the party waiving the same.
10. Words and phrases capitalized in this Agreement and defined in the Lease
shall have the meanings ascribed thereto in the Lease.
IN WITNESS WHEREOF the parties hereto have executed this Surrender as of the
day, month and year first above written.
LANDLORD: TONKO REALTY ADVISORS (B.C.) LTD. as Agent of the Owners
__________________________________
By: ▇▇▇▇▇▇ Altow, General Manager
TENANT: INFOWAVE SOFTWARE, INC.
By:_______________________________
▇▇▇▇▇▇ ▇▇▇▇▇▇, CFO
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Print Name and Position
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