Exhibit 10.34
TPI
Matamoros
Contrato de Arrendamiento Maestro Sujeto a Condición (el “Contrato”) de fecha 25 de mayo de 2017, que celebran: |
| Master Lease Agreement Subject to Condition (the "Agreement"), dated May 25th, 2017, entered into by and among: |
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1. TPI-Composites II, S. de R.L. de C.V., con el carácter de arrendatario (a quien en lo sucesivo se le denominará el “Arrendatario”), representado en este acto por Victor Manuel Saenz Saucedo; y |
| 1. TPI Composites II, S de R.L. de C.V., as tenant (hereinafter referred to as the “Tenant”), represented herein by Mr. Victor Manuel Saenz Saucedo, and |
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2. QVC II, S. de R.L. de C.V., (a quien en lo sucesivo se le denominará como el “Arrendador”), representada en este acto por los señores Lorenzo Manuel Berho Corona y Lorenzo Dominique Berho Carranza. |
| 2. QVC II, S. de R.L. de C.V., (hereinafter the “Landlord”), represented herein by Mr. Lorenzo Manuel Berho Corona and Mr. Lorenzo Dominique Berho Carranza. |
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De conformidad con los siguientes antecedentes, declaraciones y cláusulas. |
| In accordance with the following recitals, representations and clauses. |
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ANTECEDENTES |
| RECITALS |
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I. A la fecha de celebración de este Contrato, el Arrendador se encuentra en proceso de análisis de la adquisición de uno o más lotes de terreno con una superficie de aproximadamente 21.6 has. (veintiuna punto seis hectáreas) parte del predio el Ballineño, que colindan con el Parque Industrial las Ventanas, en la ciudad de Matamoros, Tamaulipas (el “Terreno”), sobre el cual se construirá el Edificio (según se define más adelante) en los términos descritos más adelante. Un plano de ubicación del Terreno se acompaña como Anexo “1”. |
| I. As of the date hereof, the Landlord is in the process of analyzing the acquisition of one or more parcels of land having an area of approximately 21.6 hectares (twenty one point six hectares) part of the land called “el Ballineño”, neighboring with “Parque Industrial las Ventanas”, in the city of Matamoros, Tamaulipas (the “Land”), on which it will build the Building (as such term are defined below) and as set forth below. A location plan of the Land is attached hereto as Annex “1”. |
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II. Declara el Arrendador, por conducto de sus representantes, bajo protesta de decir verdad, que: |
| II. Landlord represents, through its representatives, under oath, that: | |||||||
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1) Es una sociedad mercantil válidamente constituida y legalmente existente de conformidad con las leyes aplicables en México, según consta en la escritura pública número 65,785, de fecha 27 de octubre de 1994, otorgada ante la fe del Lic. Joaquín F. Oseguera, notario público número 99 de la Ciudad de México, cuyo primer testimonio quedó debidamente inscrito en el Registro Público de Comercio de Toluca, Estado de México, bajo el Libro 1, bajo la partida número 124-1412 del volumen 30- Fs. 40, de fecha 22 de septiembre de 1995, y su número de Registro Federal de Contribuyentes es el QVC941103DK2. Una copia simple de dichos documentos ha sido entregada al Arrendatario con anterioridad a la fecha de este Contrato. |
| 1) It is company validly incorporated and legally existing under the laws of Mexico, as provided in public deed number 65,785 dated October 27th, 1994, granted before Mr. Joaquin F. Oseguera, notary public number 99 of Mexico City, which first original was duly recorded before the Public Registry of Property and Commerce of Toluca, State of México, under Book 1, number 124-1412, volume 30-Fs. 40, on September 22nd, 1995, and its Federal Tax Payer number is QVC941103DK2. A non-certified copy of such documents have been delivered to Tenant before the date hereof. | |||||||
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2) La celebración, entrega y cumplimiento del presente Contrato por parte del Arrendador, están comprendidos dentro de su objeto social, y no viola, contraviene o incumple: (i) sus estatutos sociales vigentes, o (ii) ley o restricción contractual alguna que le obligue o afecte. |
| 2) The execution, delivery and performance of this Agreement by the Landlord, are considered within its corporate purpose, and do not contravene (i) its by-laws, or (ii) any law or contractual restriction binding or affecting it. | |||||||
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3) Excepto por las autorizaciones corporativas que a esta fecha ha obtenido y se encuentran vigentes, no requiere autorización o aprobación de, ni requiere de cualquier otro acto por parte de, y no requiere notificar o registrar ante, cualquier persona, órgano corporativo, autoridad gubernamental o agencia regulatoria alguna para la debida celebración, entrega y cumplimiento del presente Contrato por parte del Arrendador. |
| 3) Except for the corporate authorizations, which as of the date hereof has obtained and are in full force and effect, it does not require authorization or approval from, nor of any action by, or to notify or register before any person, corporate body, governmental authority or regulatory agency for the due execution, delivery and fulfillment of this Agreement by the Landlord. | |||||||
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4) Una vez cumplidas las Condiciones (según se define más adelante), este Contrato constituirá obligaciones legales y válidas del Arrendador, exigibles en su contra de conformidad con sus respectivos términos. |
| 4) Upon fulfillment of the Conditions (as defined below), this Agreement will constitute legal and valid obligations of the Landlord, enforceable against it according to its terms. | |||||||
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5)Cuenta con la capacidad técnica, la solvencia económica y los recursos tanto humanos como materiales suficientes para dar cumplimiento a sus obligaciones conforme a este Contrato, en caso de cumplimiento de las Condiciones (según se define más adelante). |
| 5)Has the technical capability, economic solvency and resources, human and material, to fulfill its obligations pursuant to this Agreement, in case of fulfillment of the Conditions (as defined below). | |||||||
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Salvo por el derecho del Arrendatario de dar por terminado el Contrato, de conformidad con el segundo párrafo del inciso (ii) anterior, las penas convencionales aquí descritas, serán las únicas penalidades aplicables al incumplimiento consistente en el retraso en la entrega de cada del Edificio en condiciones de Ocupación Substancial. |
| Except for Tenant’s right to terminate as set forth in the second paragraph on item (ii) above, the conventional penalties herein described, are the only penalties applicable to the breach consisting in the delay of delivery of the Buildingin a condition of Substantial Occupancy. | |||||||
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El Edificio será entregado en estado de Ocupación Benéfica en la fecha que se establezcan en el Anexo de Arrendamiento; en el entendido de que el retraso en la Fecha de Ocupación Anticipada y en la Fecha de Ocupación Benéfica del Edificio no causará el pago de pena convencional alguna. |
| The Building will be available for Beneficial Occupancy by the date set forth in the Lease Schedule; provided that a delay in the Date of Early Occupancy and in the Date of Beneficial Occupancy of the Building will not cause the payment of any conventional penalty. | |||||||
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Inciso 2.06. Licencia de Construcción. El Arrendador, ya sea directamente o a través de sus contratistas, será el responsable de la obtención de todas aquellas licencias y permisos relativos al uso de suelo industrial, impacto ambiental, la licencia de construcción y el aviso de terminación de obra del Edificio, así como cualquier otro necesario para la construcción del mismo (conjuntamente las “Licencias de Construcción”). Copias de las Licencias de Construcción serán entregadas al Arrendatario tan pronto como sea posible pero no más tarde de la Fecha de Ocupación Substancial, a fin de que el Arrendatario pueda obtener las licencias y permisos que sean necesarias para el funcionamiento de su negocio o industria en el Inmueble. |
| Section 2.06. Construction Licenses. Landlord whether on its own or through its contractors, will be responsible to obtain all permits and licenses related to industrial zoning (uso de suelo), environmental impact (impacto ambiental), the construction license (licencia de construccion) and the construction termination notice (aviso de terminación de obra) of the Building, as well as any other necessary for the construction of the same (collectively, the “Construction Licenses”). Copies of the Construction Licenses will be delivered to Tenant as soon as available but no later than the Date of Substantial Occupancy, so the Tenant may be able to obtain the licenses and permits necessary for the operation of its business or industry at the Premises. | |||||||
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Inciso 2.07. Certificación LEED. Las partes convienen que el Edificio, así como cualquier ampliación al mismo que en el futuro se haga conforme a lo previsto en este Contrato deberán obtener la certificación “Silver” de Liderazgo en Diseño de Energía y Ambiente “LEED” emitida por el Green Building Council de los Estados Unidos de América. Con el propósito de obtener y mantener dicha certificación “Silver” respecto del Edificio y las demás construcciones que componen el Inmueble, el Arrendador se obliga a llevar a cabo todos los actos necesarios por el lado de la construcción del Inmueble para tal efecto, y el Arrendatario se obliga a llevar a cabo todos los actos necesarios desde el punto de vista de la operación del Inmueble para tal efecto. Una vez satisfecho el proceso de certificación, el Arrendador deberá entregar al Arrendatario copias del certificado o cualquier otro documento que evidencie que el Edificio y cualquier otra construcción que integra el Inmueble han obtenido la certificación “Silver” LEED. |
| Section 2.07. LEED Certification. The parties hereby agree that the Building, as well as any expansion of the same that in the future may be carried out according to that set forth in this Agreement, must obtain the “Silver” certification of Leadership in Energy and Environmental Design “LEED” issued by the Green Building Council of the United States of America. In order to obtain and maintain said “Silver” certification regarding to the Building, and constructions comprising the Premises, the Landlord binds itself carry out all necessary actions on the side of the construction of the Premises to that end, and the Tenant binds itself to carry out all actions necessary from the point of view of the operation of the Premises to that end. Upon completion of the certification process, Landlord shall deliver Tenant with copies of the certificate and any other evidence that the Building and all other constructions comprising the Premises are “Silver” LEED certified. | |||||||
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Arrendamiento Maestro |
| CLAUSE III Master Lease | |||||||
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Inciso 3.01. Arrendamiento Maestro. Sujeto al cumplimiento de todas las Condiciones, el Arrendador y el Arrendatario convienen que este Contrato funcionará como un Contrato de Arrendamiento Maestro (el “Arrendamiento Maestro”) el cual aplicará para el Terreno y para el Edificio a ser construido sobre el Terreno de conformidad con los términos y condiciones del presente. |
| Section 3.01. Lease. Subject to the fulfillment of all the Conditions, Landlord and Tenant agree that this Agreement shall serve as a Master Lease Agreement (the “Master Lease”) governing the lease of the Land and of the Buildingto be developed at the Land pursuant to the terms and conditions hereof. | |||||||
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Las partes convienen que los términos de este Contrato constituirán los términos generales del arrendamiento del Inmueble y que celebrarán un anexo (el “Anexo de Arrendamiento”) en términos substancialmente iguales al formato que se acompaña como Anexo “3”, para el Edificio. El Anexo de Arrendamiento incluirá el costo del desarrollo del Edificio y el cálculo de la renta, así como un anexo identificando los bienes y equipo que instalará el Arrendatario en el Edificio. Para ser válido, el Anexo de Arrendamiento deberá ser firmado por apoderados de las partes y determinará la Fecha de Inicio del Arrendamiento para cada Edificio, los términos económicos, las Especificaciones, la ubicación y los términos y condiciones específicos para el Edificio. |
| The parties agree that the terms of this Agreement shall provide the general lease terms for the Building and that there shall be a schedule (the “Lease Schedule”), substantially in the form attached hereto as Annex “3”, for each Building. The Lease Schedule shall set forth the development cost of the Building and the calculation of rent and include an annex identifying Tenant’s personal property and equipment that is intending to install at the Building. For the Lease Schedule to be valid, shall be signed by the legal representatives of the parties and will specify the Lease Commencement Date for the Building, the economic terms, the Specifications, the location of the Building and the specific terms and conditions for the Building. | |||||||
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Asimismo, las partes acuerdan que en caso de que en el futuro exista un acuerdo de las partes para el desarrollo de nuevos edificios, modificaciones o instalaciones adicionales en el Terreno que vayan a ser desarrolladas por el Arrendador y por ende sean sujetos de arrendamiento conforme a este Contrato, los mismos podrán ser documentados a través de anexos de arrendamiento adicionales, elaborados en términos sustancialmente iguales al formato que se acompaña como Anexo “3” de este Contrato y en dicho caso, los anexos de arrendamiento serán numerados de forma consecutiva. |
| Likewise, the parties agree that if in the future there is an agreement between the parties to develop new buildings, modifications or other installations at the Land, that are to be developed by the Landlord and therefore, be subject to lease under this Agreement, the same may be evidenced through additional lease schedules, which shall be prepared in substantially the same terms as the form attached hereto as Annex “3”, and in such case, the lease schedules will be consecutively numbered. | |||||||
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Los términos generales de este Contrato junto con los términos de cualquier Anexo de Arrendamiento suscrito conforme a este Contrato, constituirán el acuerdo integral respecto del arrendamiento del Edificio y demás partes que constituyan el Inmueble. |
| The general terms of this Agreement together with the specific terms of any Lease Schedule executed pursuant to the terms hereof, shall constitute the entire agreement with respect to the lease of the Building and all other parts comprising the Premises. | |||||||
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El Arrendador dará en arrendamiento al Arrendatario y éste tomará en arrendamiento el Inmueble, sujeto a los términos y condiciones de este Contrato y a los términos específicos establecidos en el Anexo de Arrendamiento. |
| Landlord shall grant the lease to the Tenant, and the later will lease the Premises, subject to the terms and conditions of this Agreement and those specific terms set forth in the Lease Schedule. | |||||||
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Inciso 3.05. Lugares de Estacionamiento. Como parte del Inmueble, el Arrendatario tendrá el uso de los lugares de estacionamiento, andenes y rampas que forman parte del Inmueble y que se describen en las Especificaciones y en cada Anexo de Arrendamiento. El Arrendatario se obliga a no utilizar ninguna otra área del Inmueble (incluyendo sin limitar, las áreas verdes) para fines de estacionamiento de cualquier tipo de vehículo (ya sea particular o de carga, cajas de tráiler, planchas, montacargas, etc). El Arrendador no tendrá ninguna responsabilidad relacionada con robos o daños a los vehículos que utilicen dichos lugares de estacionamiento, o respecto de los objetos que se encuentren dentro de los mismos; excepto en caso de culpa o negligencia del Arrendador, sus directores, funcionarios, empleados, asesores, representantes, contratistas, factores, dependientes, visitantes o cualquier otra persona por la que el Arrendador sea legalmente responsable. No obstante, el Arrendatario podrá realizar actividades y maniobras que sean necesarias en el Terreno para la guarda, almacenamiento y transporte de los productos terminados. |
| Section 3.05. Parking Spaces. As part of the Premises, the Tenant shall have the use of the parking spaces, trailer docks and ramps that are an integral part of the Premises as described in the Specifications and in each Lease Schedule. The Tenant agrees not to utilize any other area of the Premises (including without limitation the gardened areas) for parking vehicles of any kind (whether particular, trailers, boxes, beds, forklifts, etc). The Landlord shall have no responsibility related to theft or damage to the vehicles using such parking spaces, or with respect to object left therein; except in case of fault or negligence of the Landlord, its directors, officers, employees, consultants, representatives, contractors, managers, visitors or any other person for whom the Landlord is legally responsible. Notwithstanding, Tenant shall be allowed to carry out maneuvering and other activities in the Land as may be required by the storage, warehousing and transport of its finished products. | |||||||
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Salvo en el uso permitido al Arrendatario bajo el Inciso 3.03 del presente, en lo que sea necesario para desarrollar sus actividades industriales, el Arrendatario se obliga a no utilizar, ni a permitir que sus directores, funcionarios, empleados, asesores, representantes, contratistas, factores, dependientes, visitantes o cualquier otra persona por la que el Arrendatario sea legalmente responsable, utilicen los lugares de estacionamiento para la realización de reparaciones a vehículos, siendo el Arrendatario responsable de todo y cualquier daño, perjuicio, pérdida, multa, penalidad, gasto o costo en que incurra el Arrendador con motivo del incumplimiento de esta obligación, especialmente aquellos relacionados con, o derivados de la Legislación Ambiental (según se define más adelante). |
| Except as permitted to Tenant under Section 3.03 hereunder, as may be required to carry out its industrial activities, Tenant agrees not to utilize, or to allow any of its directors, officers, employees, consultants, representatives, contractors, managers, visitors or any other person for whom the Tenant is legally responsible, for carrying out any kind of repairs to vehicles, being the Tenant responsible of any damage, loss, fine, penalty, expense or cost incurred by the Landlord by reason of the breach of this obligation, especially those related to the Environmental Laws (as defined below). | |||||||
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Inciso 3.06. Seguridad del Inmueble. El Arrendatario será el único responsable de contratar los servicios de seguridad que requiera de acuerdo a sus necesidades para el resguardo del Inmueble y de sus contenidos. |
| Section 3.06. Security at the Premises. Tenant shall be solely responsible for hiring the security services required according to its own needs to secure the Premises and its contents. | |||||||
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Inciso 3.07. Licencias; Permisos; Autorizaciones. El Arrendatario será el único responsable de la obtención de todas las licencias, autorizaciones y/o permisos de carácter federal, estatal y/o municipal, que sean necesarios para el legal funcionamiento y operación de su negocio en el Inmueble, incluyendo la correspondiente manifiestación de impacto ambiental relativa a sus actividades en el Inmueble (los “Permisos Gubernamentales”); en el entendido de que la falta de obtención de cualquiera de los Permisos Gubernamentales no liberará al Arrendatario de sus obligaciones conforme a este Contrato, especialmente de su obligación de pago de renta. |
| Section 3.07. Licenses, Permits and Authorizations. Tenant shall be solely responsible for obtaining all licenses, permits and authorizations, whether federal, state or municipal, for the legal operation of its business at the Premises, including the relevant environmental impact manifest related to its activities at the Premises (the “Governmental Permits”); provided that the failure to obtain any of the Governmental Permits shall not release the Tenant from its obligations hereunder, especially its rental payment obligation. |
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Queda expresamente convenido por las partes que el Arrendatario será el único y exclusivo responsable de mantener vigentes, conforme a la legislación aplicable, todos y cada uno de los Permisos Gubernamentales; en el entendido de que la falta de vigencia de todos o de cualquiera de dichos Permisos Gubernamentales por cualquier causa o motivo que no sea atribuible al Arrendador, aún en el supuesto de una clausura o cierre de las operaciones del Arrendatario en el Inmueble, no liberarán al Arrendatario de sus obligaciones de pago de renta, ni de sus demás obligaciones conforme al presente Contrato. |
| It is expressly agrees by the parties that the Tenant shall be solely and exclusively responsible of keeping current, each and all of the Governmental Permits; provided that the lack of any or all of the Governmental Permits for any reason not attributable to Landlord, even in the case of suspension or closing of Tenant activities at the Premises, shall not release Tenant from its rental payment obligations, nor from its other obligations hereunder. | |||||||
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El Arrendatario por este medio se obliga a entregar al Arrendador, en un plazo no mayor de diez (10) días naturales siguientes a la solicitud por escrito del Arrendador, copia simple de cada uno de sus Permisos Gubernamentales, incluyendo, en su caso, cualquier permiso de tipo ambiental. |
| Tenant by this means agrees to deliver to Landlord, within a term not exceeding ten (10) calendar days following the Landlord’s written request, a non-certified copy of each and all of the Governmental Permits, including in its case, any permit of environmental nature. | |||||||
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Inciso 3.08. Aplicación del Reglamento del Parque Industrial las Ventanas. Toda vez que el Inmueble colinda con el Parque Industrial Las Ventanas, y que dicho parque industrial proveerá al Inmueble de los servicios de agua potable, drenaje, tratamiento de aguas residuales y permitirá al Arrendatario y/o al Arrendador el uso de las áreas comunes de dicho parque industrial, incluyendo sin limitar, los accesos del parque, según lo establecido mediante contrato entre el Arrendador y dicho parque industrial, el Arrendatario reconoce que estará obligado a suscribir con la administración del Parque Industrial Las Ventanas los acuerdos que sean necesarios para documentar la prestación de los servicios que dicho parque proveerá al Arrendatario, así como para el pago de las cuotas de administración y/o mantenimiento que derivan del reglamento del Parque Industrial Las Ventanas (el “Reglamento del Parque”), el cual el Arrendatario conviene en acatar y cumplir durante el Plazo y la(s) Prorroga(s). Una copia del Reglamento del Parque se acompaña como Anexo “4”. |
| Section 3.08. Application of the Regulations of “Las Ventanas” Industrial Park. Since the Premises are neighboring the Industrial Park “Las Ventanas”, and that said industrial park will supply the Premises with the services consisting in fresh water, drainage, waste water treatment and will allow the Tenant and/or the Landlord the use of the common areas of such industrial park, including without limitation, the accesses to the park, as set forth in the contract between the Landlord and said industrial park, the Tenant acknowledges that it will be bound to execute with the administration of Las Ventanas Industrial Park, those agreements required to evidence the provision of the services to be supplied by the park to the Tenant, as well as for the payment of the common area maintenance and administration quotas derived from the regulations of Las Ventanas Industrial Park (the “Park Regulations”), which the Tenant agrees to apply and comply during the Term and the Extension(s). A copy of the Park Regulations is attached hereto as Annex “4”. | |||||||
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En términos de lo previsto por el artículo 1806 del Código Civil para el Estado de Tamaulipas, las partes reconocen que el Anexo de Arrendamiento se celebrará por tiempo determinado y por lo tanto concluirá en la fecha ahí señalada, sin necesidad de aviso, notificación o cualquier otro acto por parte del Arrendador, excepto que el Arrendatario ejerza su derecho de prorrogar el plazo del Anexo de Arrendamiento conforme a este Contrato. |
| Pursuant to that provided for in article 1806 of the Civil Code for the State of Tamaulipas, the parties hereby acknowledge that the Lease Schedule will be entered into for a determined period of time; therefore it will end on the date set forth therein, without the need of further notice or any other act by the Landlord; except if Tenant exercises its right to extend the term of the Lease Schedule pursuant to this Agreement. | |||||||
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Las partes convienen que el Plazo del Anexo de Arrendamiento se extenderá automáticamente a fin de igualar al vencimiento de cualquier posterior Anexo de Arrendamiento que suscriban las partes conforme a este Contrato, sin necesidad de ninguna acción, aviso, notificación, o comunicación por parte del Arrendador. |
| The parties agree that the Term of the Lease Schedule shall be automatically extended to match the termination date of any following the Lease Schedule executed by the parties according to this Agreement, without the need of any action, notice or communication by the Landlord. | |||||||
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Inciso 4.02. Prórroga(s). Sujeto a la condición de que el Arrendatario esté al corriente en el pago de las rentas y en cumplimiento con todas y cada una de las obligaciones materiales que le derivan conforme al presente Contrato, el Arrendatario tendrá el derecho, al final del Plazo, de prorrogar el Anexo de Arrendamiento, en 2 (dos) ocasiones cada una por periodos de 7 (siete) años calendario (la(s) “Prorroga(s)”). Una vez ejercida cada Prórroga, ésta constituirá un plazo forzoso para las partes. |
| Section 4.02. Extension(s). Subject to the condition that the Tenant be in compliance with the payment of rents hereunder, and with each and every one of its material obligations derived hereunder, the Tenant shall have the right, at the end of the Term, to extend the Lease Schedule twice for a periods of 7 (seven) calendar years each (the “Extension(s)”). Once each Extension is exercised, it shall constitute a mandatory term for the parties. | |||||||
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Para efectos de claridad las partes hacen constar que las Prórrogas operarán respecto del Inmueble en su totalidad. |
| For sake of clarity the parties hereby acknowledge that the Extensions shall apply for the Premises in its entirety. | |||||||
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Queda convenido que durante la(s) Prórroga(s), los términos y condiciones de este Contrato serán aplicables sin modificación alguna. |
| It is hereby agreed that during the Extension(s), the terms and conditions of this Agreement shall be applicable without any amendment thereto. | |||||||
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La renta mensual aplicable al primer año de la primera Prórroga, será equivalente al 95% (noventa y cinco por ciento) de la renta pagada por el Arrendatario al Arrendador durante el mes calendario anterior al inicio de dicha primera Prórroga ajustado conforme a lo previsto en el Inciso 5.02 siguiente, siempre y cuando durante el Plazo el Arrendador no hubiera hecho inversiones adicionales en el Inmueble, y a partir del segundo año de dicha Prórroga la renta mensual se incrementará en términos de lo previsto en el Inciso 5.02 siguiente. Se acuerda que el costo de todas aquellas mejoras “above standard” identificadas como “ASTIs” en el Anexo “5” de este Contrato, cuya inversión hubiera sido totalmente amortizada por el Arrendador durante el Plazo, no será considerado para determinar la renta mensual de la primera renovación. |
| The monthly rent applicable to the first year of the first Extension shall be equivalent to 95% (ninety five percent) of the rent payable by the Tenant to the Landlord during the calendar month immediately preceding to the beginning of the first Extension adjusted pursuant to that set forth in Section 5.02 below, as long as during the Term the Landlord had not made any additional investments in the Premises, and monthly rent for the second year of said Extension the rent shall be increased in the terms of Section 5.02 below. It is hereby agreed that the cost of all above standard improvements designated “ASTIs” in Annex “5” hereto, which investment has been fully amortized by the Landlord during the Term, shall not be considered to determine the monthly rent applicable for the first renewal. | |||||||
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En caso de existir algún vicio oculto o daño estructural en el Inmueble, o necesidad de reemplazar equipo, el Arrendador acudirá al Inmueble con el propósito de evaluar el mismo dentro de los 5 (cinco) días naturales siguientes a la fecha en que hubiere recibido la notificación a que se hace referencia en el párrafo que antecede (salvo en caso de emergencia, en cuyo caso el Arrendador deberá acudir a más tardar al día siguiente a la fecha en que hubiere recibido la notificación). El Arrendador deberá presentar al Arrendatario, dentro de los cinco (5) días naturales siguientes al fecha en que el Arrendador acudió al Inmueble para realizar la evaluación del desperfecto (salvo en caso de emergencia, en cuyo caso el Arrendador deberá presentarlo a más tardar al día siguiente a la fecha en que haya acudido al Inmueble para realizar la evaluación del desperfecto), un informe en el que (i) se detalle el vicio oculto o equipo que necesite reemplazo, (ii) según su opinión declare si es o no un vicio oculto o daño estructural, (iii) las causas probables del mismo, (iv) las acciones que se llevarán a cabo para su reparación o reemplazo en caso de ser responsabilidad del Arrendador conforme a este Contrato, (v) el tiempo estimado para completar la reparación de que se trate en el entendido de que el Arrendador hará sus mejores esfuerzos para que la reparación se lleve a cabo lo antes posible y (vi) la manera en que se llevará a cabo la reparación del mismo. |
| In case of existence of any hidden defect or structural damage, in the Premises, or need to replace equipment, the Landlord shall appear to the Premises in order to evaluate the same within the 5 (five) calendar days following the notice referred to in paragraph above (except in case of emergency, in which case, the Landlord shall appear the following day of the reception of the notice). Landlord will submit to the Tenant, within the 5 (five) calendar days following the date in which the Landlord appeared at the Premises to evaluate the defect (except in case of emergency, in which case, the Landlord shall submit it at the day following the day in which the evaluation of the defect was made), a report (i) describing the defect, (ii) confirming, if in its opinion, is a hidden defect, or structural damage, (iii) the probable causes of the same, (iv) the actions to be carried out in case that the Landlord results responsible for repairing the defect or replacement by landlord in accordance to this agreement, (v) estimated time for its repair, in the understanding that the Landlord shall make is best effort to complete the relevant repair as soon as possible, and (vi) the manner in which the repair shall be carried out. | |||||||
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El Arrendatario deberá permitir al Arrendador, sus empleados, contratistas y demás personas designadas por el Arrendador, el acceso al Inmueble, con el fin de realizar las obras y reparaciones que fuesen necesarias en términos de este Inciso 7.07; siempre que el Arrendador envíe aviso por escrito al Arrendatario con por lo menos 2 (dos) días hábiles de anticipación, salvo en caso de emergencia donde no se requerirá de aviso previo; en el entendido de que, el Arrendador, sus empleados, contratistas y demás personas designadas por el Arrendador deberán cumplir con los reglamentos y políticas internas de seguridad del Arrendatario y en la medida de lo posible no deberán interferir con las operaciones del Arrendatario. |
| Tenant shall allow Landlord, its employees, contractors and other appointed persons, to access the Premises in order to carry out the necessary works and repairs in terms of this Section 7.07; provided that the Landlord notifies in writing to Tenant, with at least 2 (two) business days in advance, except in case of emergency, which will not require previous notice; in the understanding that, the Landlord, its employees, contractors and other appointed persons must comply with all internal regulations and policies and will avoid, as much as possible to interfere with Tenant’s operations. | |||||||
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Si la realización de las reparaciones de que se trate requieren interferir con el uso y goce normal del Inmueble por el Arrendatario, las partes actuando de buena fe, acordarán por escrito la manera en que se llevarán a cabo las reparaciones para reducir al mínimo indispensable dicha interferencia. En este caso, el Arrendatario tendrá derecho a una reducción en la renta durante el tiempo en que no pueda hacer uso del Inmueble, pero sólo en la proporción que corresponda al porcentaje del Inmueble del cual no puede hacer uso. |
| If the repairs interfere with the normal use and enjoyment of the Premises by Tenant, the parties acting in good faith, shall agree in writing the manner in which the repairs will be conducted in order to reduce such interference as much as possible. In this case, the Tenant shall have the right to a rental reduction during the time in which it cannot use the Premises, but only in proportion to the percentage of the Premises that cannot be used. |
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En caso de cualquier reparación o reemplazo a cargo del Arrendador, éste deberá cerciorarse de que el personal utilizado cuenta con la capacidad técnica y experiencia para hacer el trabajo que corresponda, y que dicho personal cuente con los seguros de responsabilidad civil necesarios para cubrir cualquier daño que pudieran causar a los bienes propiedad del Arrendatario que se encuentren dentro del Inmueble y mantendrá al Arrendatario libre, en paz y a salvo y le indemnizará respecto de cualquier daño, pérdida, costo o gasto relacionado con cualquier acción que dicho personal pudiera intentar en contra del Arrendatario alegando alguna relación o vínculo laboral con el Arrendatario, más no por responsabilidad civil del Arrendatario respecto de dicho personal por cualquier acción del Arrendatario, sus directores, funcionarios, empleados, asesores, representantes, contratistas, factores, dependientes, visitantes o cualquier otra persona por la que el Arrendatario sea legalmente responsable, que afecte a dichas personas. |
| In case of any repair or replacement by Landlord, it shall make sure that it hires the adequate personnel with the necessary technical capacity and experience to perform the corresponding works, and that such personnel has the necessary civil liability insurance necessary to cover any damage that they might cause to the property of the Tenant inside the Premises and will keep the Tenant safe and harmless and will indemnify the Tenant for any damage, loss, cost or expense related to any action that such personnel may try against the Tenant alleging any labor relationship with the Tenant, but not for Tenant’s civil liability of Tenant, with respect to such personnel due to actions of the Tenant, its directors, officers, employees, consultants, contractors, representatives, managers, visitors or any other person for which the Tenant is legally responsible, affecting such personnel. | |||||||
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Excepto por lo previsto en este Inciso, el Arrendador no está obligado a hacer ningún otro tipo de reparación, reemplazo o actividad de mantenimiento en el Inmueble. |
| Except for that set forth in this Section, Landlord is not obligated to make any kind of repair, replacement or maintenance activity at the Premises. | |||||||
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CLÁUSULA VIII Obligaciones |
| CLAUSE VIII Obligations | |||||||
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Inciso 8.01. Obligaciones del Arrendatario. Mientras el Arrendatario continúe en posesión del Inmueble, el Arrendatario expresamente conviene y se obliga a todo lo siguiente: |
| Section 8.01. Tenant’s Obligations. While the Tenant remains in possession of the Premises, the Tenant expressly covenants to the following: | |||||||
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a. Pagar la renta en los montos, forma y tiempo previstos por la Cláusula V de este Contrato. |
| a. Pay the rent in the amounts and the manner set forth in Clause V of this Agreement. | |||||||
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b. Responder de los daños que sufra el Inmueble por culpa o negligencia del Arrendatario, sus directores, funcionarios, empleados, asesores, representantes, contratistas, factores, dependientes, visitantes o cualquier otra persona por la que el Arrendatario sea legalmente responsable, salvo por aquellos que ingresen al Inmueble por solicitud o instrucción del Arrendador. |
| b. Be liable for the damages suffered by the Premises due to fault or negligence of the Tenant its directors, officers, employees, consultants, contractors, representatives, managers, visitors or any other person for which the Tenant is legally responsible, except for those persons accessing the Premises at the request or instruction by the Landlord. | |||||||
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c. Destinar el Inmueble exclusivamente a los usos permitidos conforme al Inciso 3.04 del presente Contrato. |
| c. Use the Premises exclusively for the permitted uses pursuant to Section 3.04 of this Agreement. | |||||||
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Todas las pólizas de seguros, o certificados de seguros, emitidas de conformidad con el punto 1 de este Inciso 8.03, deberá contener un endoso por el cual la aseguradora de que se trate acuerde que las pólizas de seguro por ella emitidas en relación con el Inmueble y este Contrato, no serán canceladas o modificadas sin que medie notificación al respecto al Arrendador, dada con por lo menos 30 (treinta) días hábiles de anticipación a la fecha en que se pretenda llevar a cabo la modificación o cancelación de que se trate, y que dicha notificación deberá darse en los términos previstos en el Inciso 12.03 de este Contrato. |
| All insurance policies or certificates of coverage issued pursuant to item 1 of this Section 8.03, shall include a clause by which the relevant insurance policy agrees that the insurance policies issued in connection with the Premises and this Agreement, shall not be cancelled or modified without notice to Landlord, given with at least 30 (thirty) business days in advance to the date of the intended modification or cancellation, and that such notice shall be made according to that set forth in Section 12.03 hereof. | |||||||
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Las partes reconocen que las coberturas de seguro antes mencionadas, ya sea que la aseguradora correspondiente pague o no cualquier cantidad conforme a las mismas, no será limitativa ni sustituirá la responsabilidad en la que el Arrendatario pueda incurrir frente al Arrendador y/o terceras personas por daños o responsabilidades consecuencia de actos u omisiones directamente causadas por el Arrendatario y debidamente probadas, por las cuales la parte de que se trate no hubiera sido totalmente indemnizado, siempre y cuando dichos daños o responsabilidades sean comprobables y sean imputables al Arrendatario. |
| The parties acknowledge that the insurance coverage mentioned herein, whether or not the corresponding insurance company pays or not any amount thereunder, shall not limit or substitute the responsibility of the Tenant before the Landlord and/or third parties for damages in their persons or property consequence of duly proven actions or omissions of the Tenant, for which the relevant party has not been indemnified, as long as said damages or liabilities are duly proven and are attributable to the Tenant. | |||||||
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Independientemente de cualquier otra disposición en este Contrato en contrario, siempre que: (i) cualquier pérdida, costo, daño o gasto que resulte de incendio, explosión o cualquier otro accidente o eventualidad sea incurrido ya sea por el Arrendador o el Arrendatario o por cualquier otra persona reclamando en representación de, a través de, o a nombre del Arrendador o el Arrendatario en relación con el Inmueble, y (ii) dicha parte sea indemnizada en todo o en parte por el seguro con respecto a dicha pérdida, costo, daño o gasto, entonces la parte así asegurada renuncia en este acto a cualquier demanda en contra y libera a la otra parte de cualquier responsabilidad, que la mencionada otra parte pudiera tener por dicha pérdida costo, daño o gasto en la medida de cualquier cantidad recuperada por razón de dicho seguro; en el entendido de que dicha renuncia a demandas o liberación de responsabilidades no serán operantes cuando el efecto del mismo sea invalidar dicha cobertura de seguro o incrementar su costo (excepto que en el caso de aumento en el costo, la otra parte tendrá el derecho, dentro de los siguientes treinta (30) días siguientes a la notificación por escrito, de pagar dicho costo aumentado, por lo tanto manteniendo dicha liberación o renuncia efectivas). |
| Independently of any other provision in this Agreement to the contrary, in the case that: (i) any loss, cost, damage or expense resulting from fire, explosion or any other accident, whether incurred by the Landlord or the Tenant or any other person claiming in representation of, through or in the name of the Landlord or the Tenant in connection with the Premises, and (ii) said party be indemnified all or in part by the insurance with respect to said loss, cost, damage or expense, then the party so insured waives herein any claim against and releases the other party of any responsibility, that said party may have for such loss, cost, damage or expense up to the amount so recovered by said insurance; provided that, said waiver to claim or release of responsibilities will not be effective when the purpose of the same is to invalidate said insurance coverage or increase its cost (except that in case of an increase in cost, the other party shall have the right, within the following 30 (thirty) days following the relevant written notice, to pay such increased cost, therefore, the release or waiver shall remain effective). | |||||||
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El Arrendador conviene y se obliga a indemnizar y mantener al Arrendatario y a sus accionistas, directores, agentes, empleados, sucesores, representantes y cesionarios, libres y a salvo de cualquier reclamación, daño, responsabilidad, pérdida, resolución, acuerdo y costos (incluyendo sin limitación, honorarios razonables y documentados de abogados y gastos) en relación con la liberación o descarga de Materiales Peligrosos derivados de, o resultantes de, o en cualquier forma relacionados con, (i) violaciones a la Legislación Ambiental previo a, y durante el período de construcción del Inmueble o cualquier parte del mismo, y (ii) contaminación del Inmueble o cualquier parte del mismo por el Arrendador, sus directores, funcionarios, empleados, asesores, representantes, contratistas, factores, dependientes, visitantes o cualquier otra persona por la que el Arrendador sea legalmente responsable durante el Plazo o la(s) Prórroga(s). La presente indemnización estará limitada al monto que corresponda a las multas y gastos relacionados con cualquier sanción impuesta por las autoridades gubernamentales en materia ambiental, más los costos de las remediaciones que sean necesarias para corregir el incumplimiento de que se trate y los costos documentados efectivamente erogados por la parte que tenga derecho a dicha indemnización. En ningún caso existirá responsabilidad por daños consecuenciales. |
| The Landlord covenants and agrees to indemnify and hold harmless Tenant, and its shareholders, directors, officers, employees, trustee delegates, successors, legal representatives and assigns from and against all claims, damages, liabilities, losses, judgments, settlements and costs (including, without limitation, reasonable attorney's fees and expenses) in connection with Hazardous Materials arising out of, or resulting from: (i) violations to the Environmental Law before and during the construction period of the Premises or any part thereof and (ii) contamination of the Premises or any part thereof by the Landlord or by its directors, officers, employees, consultants, representatives, contractors, managers, visitors or any other person for which the Landlord is legally responsible during the Term and the Extension(s).This indemnification shall be limited to the amount corresponding to the fines and expenses related to any sanction imposed by any governmental authority in environmental matters, plus the costs related to the remediation actions necessary to correct the relevant breach, and the documented costs effectively incurred by the party having the right to be indemnified. In no case shall exist responsibility for consequential damages. | |||||||
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(B) El Arrendatario, a su costa, se obliga a, y garantiza que, durante el Plazo y la(s) Prórroga(s), el Inmueble será mantenido y las operaciones del Arrendatario serán conducidas de acuerdo a la Legislación Ambiental aplicable al Arrendatario, que el Arrendatario no procesará, combinará, de ninguna forma utilizará, almacenará, desechará, derramará, reciclará, introducirá ni permitirá que se introduzca al Inmueble ningún Material Peligroso o considerado como contaminante por la Legislación Ambiental. |
| (B) Tenant covenants and agrees that, at its own cost, that throughout the Term and the Extension(s), the Premises will be maintained and Tenant’s operation will be conducted in accordance with the Environmental Law applicable to the Tenant, that Tenant will not process, combine, in any manner use, keep, dispose, spill, recycle or introduce or allow to be introduced at the Premises, any Hazardous Materials or any material considered as contaminant by the Environmental Law. | |||||||
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El almacenamiento temporal o permanente de sustancias peligrosas utilizadas en la operación ordinaria del Arrendatario o mantenimiento o limpieza del Inmueble, no implicarán un incumplimiento del Arrendatario conforme a este Inciso 9.01 (B), siempre y cuando, dichas sustancias sean manejadas con el cuidado debido y se encuentren en volúmenes acordes para su uso. |
| The use or temporary or permanent storage of hazardous materials in the ordinary operations of the Tenant, or for maintenance and cleaning of the Premises, will not imply a breach by Tenant to this Section 9.01 (B), as long as, such substances are being managed with the due care and in reasonable volumes for their intended use. | |||||||
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“Materiales Peligrosos” significa aquellas que se describen en el artículo 3 fracción XXXIII de la Ley General de Equilibrio Ecológico y Protección al Ambiente que representen un riesgo al medio ambiente, salud o recursos naturales, incluyendo sin limitar, cualquier desperdicio tóxico, sustancia peligrosa, sustancia tóxica, desecho peligroso, petróleo, sustancias, residuos o desperdicios derivados del petróleo, sustancias, residuos o desperdicios radioactivos, ya sea en forma líquida, sólida o gaseosa, o cualquier elemento constituido de dicha sustancia, residuo o cualquier otra sustancia o materia regulada o definida en la Legislación Ambiental, incluyendo, sin limitar, desperdicios, residuos, materiales o sustancias que: (i) se les denomine “Material Peligroso” y/o “Residuos Peligrosos”, de conformidad con la Legislación Ambiental, o (ii) aparezcan listados o caracterizados y considerados como “Peligrosos” conforme a las Normas Oficiales Mexicanas que sean aplicables, o (iii) sean designados y considerados como “desperdicios peligrosos” en términos de la Legislación Ambiental, o (iv) tengan características corrosivas, radioactivas, explosivas, tóxicas, inflamables, o biológicamente infecciosas. |
| “Hazardous Materials” means those described in article 3 section XXXIII of the General Law of Ecological Equilibrium and Environmental Protection that pose a risk to the environment, health and natural resources, including without limitation, any toxic waste, dangerous substance, toxic substance, hazardous waste, petroleum, substances or waste derived from petroleum, radioactive substances or waste, whether liquid, solid or in gaseous form, or any element elaborated with such substance or waste, or any other substance or material regulated or defined in the Environmental Law, including, without limitation, waste, traces, materials or substances which: (i) are defined as “Hazardous Material” and/or “Hazardous Traces”, in accordance with the Environmental Law, or (ii) appear listed or characterized and considered like “Dangerous” by the Official Mexican Norms NOM-052-SEMARNAT-2005 and NOM-053-SEMARNAT-1993, or (iii) are designated and considered as “Hazardous Waste” in terms of the Environmental Law, or (iv) have corrosive, radioactive, explosive, toxic, flammable, biological infectious characteristics. | |||||||
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CLÁUSULA X Rescisión |
| CLAUSE X Rescission | |||||||
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Inciso 10.01. Rescisión por el Arrendador. En el supuesto de que cualquier de los siguientes eventos (cada una, una “Causa de Rescisión”) ocurra: |
| Section 10.01. Rescission by Landlord. In the case that any of the following events (each a “Cause of Rescission”) occurs: | |||||||
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i. El Arrendatario omita o se atrase en el pago de la renta y/o cualquier otra cantidad pagadera al Arrendador conforme a este Contrato y/o el Anexo de Arrendamiento y/o cualquier otro documento que se suscriba conforme a este Contrato, y dicha omisión o retraso permanezca sin ser subsanado por un periodo de 10 (diez) días naturales siguientes a la fecha en que el Arrendador le hubiera notificado por escrito al Arrendatario; o |
| i. Tenant fails or delays in the payment of the rent and/or any other amount payable to the Landlord pursuant to this Agreement and/or the Lease Schedule and/or any other document executed pursuant to this Agreement, and such omission or delay remains uncured for a period of 10 (ten) calendar days following the date in which the Landlord had notified in writing to the Tenant; or | |||||||
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ii. El Arrendatario ceda los derechos que le corresponden en el presente Contrato o al Anexo de Arrendamiento o subarriende ya sea parcial o totalmente el Inmueble, o de cualquier otra forma conceda el uso, posesión o goce parcial o total del Inmueble a terceros: (a) de manera distinta a la permitida en este Contrato, o (b) sin el consentimiento previo y por escrito del Arrendador para tal efecto, cuyo consentimiento no deberá ser negado o demorado sin razón justificada; o |
| ii. The Tenant assigns its rights from this Agreement or the Lease Schedule or subleases, whether partially or totally the Premises, or in any other manner grants the use, possession or enjoyment of the Premises, whether partially or totally to third parties: (a) in a way different to that permitted hereunder, or (b) without the previous written consent of the Landlord to that effect, which consent shall not be withheld or delayed without just cause; or | |||||||
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Inciso 10.03. Rescisión por el Arrendatario. En el supuesto de incumplimiento por parte del Arrendador respecto de sus obligaciones conforme a este Contrato, y siempre y cuando, dicho incumplimiento permanezca sin ser subsanado por más de 45 (cuarenta y cinco) días naturales contados a partir de la fecha en que el Arrendatario hubiera notificado al Arrendador sobre dicho incumplimiento; o si dicho incumplimiento no pudiera ser subsanado dentro de dicho período de 45 (cuarenta y cinco) días naturales, que el Arrendador incumpla con adoptar las medidas necesarias para subsanar el incumplimiento de que se trate (incluyendo sin limitar la realización de reparaciones temporales) dentro de dicho plazo de 45 (cuarenta y cinco) días naturales aquí mencionado y entregue al Arrendatario evidencia documental al respecto; o en el supuesto de que el Arrendador entre en estado de disolución o liquidación o sea declarado en concurso mercantil; el Arrendatario tendrá derecho de elegir: (i) subsanar dicho incumplimiento con cargo al Arrendador, y/o (ii) ejercer cualquier derecho o medida prevista en la ley. El Arrendador no será responsable de daños consecuenciales. |
| Section 10.03. Rescission by Tenant. In the event of default by the Landlord to its obligations hereunder and provided that such default remains without being cured for more than 30 (thirty) calendar days, from the date in which the Tenant notified the Landlord about such breach, or if such breach cannot be cured within such 45 (forty five) calendar days period, and Landlord fails to undertake the necessary actions to start curing such breach (including the realization of temporary repairs) within the 30 (thirty) calendar days period following the date of the above mentioned term and delivers to the Tenant documentary evidence to that respect; or if the Landlord is subject to dissolution or liquidation or declared in bankruptcy, the Tenant shall have the right to choose to: (i) cure Landlord’s default at Landlord’s cost, and/or (ii) exercise any right or remedy available in law. Landlord shall not be responsible for consequential damages. | |||||||
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Inciso 10.04. Posesión en caso de Abandono. Las partes convienen que el hecho de que el Arrendatario abandone el Inmueble, autorizará al Arrendador para que de inmediato y sin necesidad de declaración judicial alguna, tome posesión del Inmueble, con el propósito de evitar deterioro y daños al mismo; así como un perjuicio mayor al Arrendador al quedar el Inmueble abandonado y susceptible de ser poseída por cualquier persona sin título legítimo para dicho fin. |
| Section 10.04. Possession in Case of Abandonment. The parties agree that the fact that the Tenant abandons the Premises shall authorize the Landlord to immediately take possession of the same, without any judicial declaration, in order to avoid damages to the same; as well as to avoid future damages to the Landlord for having the Premises abandoned and in conditions of being possessed by any third party without right to do so. | |||||||
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Inciso 12.02. Modificaciones. Ninguna modificación de término o condición alguna de este Contrato, y ningún consentimiento o dispensa en relación a cualquiera de dichos términos o condiciones tendrá efecto legal alguno, a menos de que conste por escrito y este suscrito por todas las partes, y aun en dicho caso, dicha modificación, consentimiento o dispensa sólo surtirá efectos para el fin específico para el cual haya sido otorgado. |
| Section 12.02. Modifications. No modification of any term or condition herein, nor any consent or exemption to such terms or conditions will be legal, unless it is approved in writing and signed by the legal representatives of all the parties, and even in such case, such modification, consent or exemption will be effective only for the specific purpose for which it has been granted. | |||||||
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Ninguna conducta entre las partes, costumbre o práctica de industria, y ninguna evidencia extrínseca de ningún tipo o naturaleza podrá ser utilizada para la interpretación de este Contrato ni usada para alterar, suplementar o modificar cualquiera de los términos de este Contrato. |
| No course of conduct among the parties, custom or practice in the industry, and no extrinsic evidence of any kind shall be sued for the interpretation of this Agreement, nor used to alter, supplement or modify any of the terms of this Agreement. | |||||||
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Inciso 12.03. Domicilios; Avisos. (A) Las partes convienen que los domicilios que establecen en este Inciso, constituyen sus domicilios para todo lo relacionado con este Contrato, incluyendo cualquier notificación o diligencia derivada de o relacionada con este Contrato y/o el Inmueble. |
| Section 12.03. Domiciles; Notices. (A) The parties hereby agree that the domiciles set forth in this Section, constitute their domiciles for everything related to this Agreement, including any notice or legal action derived from or related to this Agreement and/or the Premises. | |||||||
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B) Todos los avisos y comunicaciones que se requieran en términos de este Contrato, deberán constar por escrito y enviarse (i) por correo certificado con acuse de recibo o por servicio de mensajería internacional con acuse de recibo, o (ii) entregarse personalmente con acuse de recibo, o (iii) entregarse de manera fehaciente, ya sea ante fedatario público o ante dos testigos. Todos los avisos y comunicaciones deberán dirigirse a la parte a quien se pretenda dar dicha notificación o aviso, al domicilio que aparece a continuación, y en su caso, con porte previamente pagado. |
| (B) Any notice and communication required under this Agreement shall be made in writing and sent by (i) certified mail acknowledgement of reception requested or international courier service with acknowledgment of receipt, or (ii) delivered in person to the recipient with acknowledgement of receipt, or (iii) delivered before notary public or two witnesses. All such notices and communications shall be sent to the intended recipient to the domiciles below, and in its case, postage prepaid: | |||||||
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Al Arrendador: |
| Paseo de los Tamarindos 90, Torre II, Piso 28, Col. Bosques de las Lomas, México, D.F., CP 05120 |
| To Landlord: |
| Paseo de los Tamarindos 90, Torre II, Piso 28, Col. Bosques de las Lomas, México, D.F., CP 05120. | |||
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| At’n: Representante Legal |
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| Attn: Legal Representative | |||
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Al Arrendatario: |
| En el Inmueble |
| To Tenant: |
| At the Premises | |||
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| At'n. Representante Legal |
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| Attn: Legal Representative | |||
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Con copia para; TPI Composites, Inc |
| With a copy to: TPI Composites, Inc. | |||||||
8501 N. Scottsdale Road, Suite 100 |
| 8501 N. Scottsdale Road, Suite 100 | |||||||
Scottsdale, AZ 85253 |
| Scottsdale, AZ 85253 | |||||||
At’n. Abogado General y Director de Finanzas |
| Attn. General Counsel and CFO | |||||||
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Inciso 12.12. Obligaciones Laborales. Cada una de las partes será responsable de dar cumplimiento a las obligaciones que derivadas de su carácter de patrón le imponga la ley federal del trabajo y demás regulaciones que le sean aplicables respecto de sus trabajadores, incluyendo sin limitar sus obligaciones de proveer un lugar de trabajo en condiciones de higiene y seguridad a sus trabajadores y las normas oficiales mexicanas aplicables a los patrones, y desde este momento cada una de ellas se obliga a mantener a las demás partes de este Contrato, libres, en paz y a salvo respecto de toda y cualquier acción, que cualquiera de sus empleados por cualquier causa iniciare en contra de las otras partes de este Contrato, y a indemnizar a dichas otras partes respecto de todos aquellos daños, pérdidas, perjuicios, gastos, costos, multas, indemnizaciones y penalidades en que hubieran incurrido con motivo de dichas acciones, incluyendo sin limitar, honorarios razonables y documentados de abogados y gastos relacionados. |
| Section 12.12. Labor Obligations. Each of the parties will be responsible for complying with the obligations arising from their capacity as employers pursuant to the Federal Labor Law (Ley Federal del Trabajo) and other applicable regulations with respect to their workers, including without limitation their obligations to provide a secure and hygienic working place to their respective workers and to the Mexican official norms applicable to employers, and from this moment, each of them agrees to indemnify and hold harmless the other parties of this Agreement, clear and free from any and all action, whether judicial or extrajudicial, that any of their workers, for any reason undertake against any of the other parties to this Agreement, and to reimburse to said other parties, all those expenses in which they had incurred by reason of the defense of any such action, including without limitation, attorney’s fees and related expenses. | |||||||
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Adicionalmente, las partes se comprometen a que en todas sus relaciones respetarán los derechos humanos de sus empleados y todas las personas en general, evitando la discriminación, el acoso el abuso o la intimidación en cualquiera de sus formas, en relación a: edad, lenguaje u origen, nacionalidad o raza, estado civil, género, embarazo, enfermedades como SIDA, ideas, opiniones o libertad de expresión, capacidades físicas especiales, preferencias políticas o sexuales, religión; o condición social y económica. |
| Additionally, the parties agree that in their respective relationships the human rights of their employees and from all persons in general will be respected, avoiding discrimination, harassment, abuse or intimidation in any manner, in connection with: age, language or origin, nationality, race, civil status, gender, pregnancy, diseases as HIV, ideas, opinions or freedom of expression, physical capabilities, political or sexual preferences, or social and economic condition. | |||||||
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Las partes se comprometen a apegarse, en lo conducente y relacionado con el presente Contrato a lo siguiente: |
| The parties agree to be bound, in all related to this Agreement to the following: | |||||||
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1. Actuar con principios éticos y morales en sus acciones, así como con respeto y en apego en lo que corresponda a sus propios códigos de ética y regulaciones internas. |
| 1. Act according to ethical and moral principles in their activities, as well as with respect and in compliance to their own ethics codes and internal regulations. | |||||||
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2. Abstenerse de emplear mano de obra infantil; y |
| 2. Refrain from using child labor; and | |||||||
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3. Cumplir con la legislación en materia de protección de medio ambiente, seguridad e higiene en el lugar de trabajo. |
| 3. Comply with the legislation relative to environmental protection, security and hygiene in the working place. | |||||||
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Inciso 12.17. Condición Financiera y Estados Financieros. El Arrendatario conviene, dentro de los 10 (diez) días hábiles siguientes a la solicitud por escrito del Arrendador, en entregar una copia de sus estados financieros anuales y de los del Fiador, que en ese momento estén disponibles; en el entendido de que el Arrendador no podrá solicitarlo más de una vez al año, ni tampoco si dicha información es pública, dicha información deberá ser manejada y tratada como información confidencial y sujeta a lo previsto en el Inciso 12.16 anterior. |
| Section 12.17. Financial Condition and Financial Statements. Tenant agrees to deliver to the Landlord, within 10 (ten) calendar days following the written request by the Landlord, a copy of its then available annual financial statements, and of those of the Guarantor, provided that, the Landlord shall not request it more than once in a year, nor if such information is public, said information should be handled and treated as confidential information, and subject to that set forth in Section 12.16 above. | |||||||
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Inciso 12.18. Ausencia de Vicios del Consentimiento. Las partes manifiestan que en la firma del presente Contrato, su voluntad no se encuentra afectada por dolo, lesión, error, mala fe, ni ninguna otra cuestión que menoscabe su voluntad. Siendo el presente Contrato perfecto y válido para que surta plenos efectos y renunciando las partes en términos de lo previsto en el Código Civil para el Estado de Chihuahua, a cualquier acción para la nulidad del mismo por este motivo. |
| Section 12.18. Absence of Vices of Consent. The parties declare that in the signing of this Agreement, their will is not affected by fraud, injury, error, bad faith, or any other issue that impairs their will. Being the present Agreement perfect and valid for fully effective contract effects, and hereby waive in terms of that set forth in the Civil Code for the State of Chihuahua to any action to nullify this agreement for that reason. | |||||||
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Inciso 12.19. Comisión de Corretaje. El Arrendador pagará a CBRE (el “Corredor”) una comisión (la “Comisión”) de conformidad con los términos y condiciones establecidos en el contrato de corretaje celebrado por separado con esta misma fecha entre el Arrendador y el Corredor igual al 5% (cinco por ciento) de la renta aplicable por los primeros 5 (cinco) años del Anexo de Arrendamiento y 2.5% (dos punto cinco por ciento) de la renta aplicable por los años siguientes del Anexo de Arrendamiento. Ambas partes convienen en indemnizar y mantener a la otra parte en paz y a salvo de y contra cualquier reclamo por comisiones u honorarios de corredor y honorarios adicionales de cualquier persona o entidad que reclame haber sido contratado en relación con la presente transacción o ser la causa de adquisición de la presente transacción. El Arrendador y el Arrendatario declaran para beneficio de la otra que no han contratado los servicios de ninguna persona diferente del Corredor en relación con la negociación y celebración de este Contrato. |
| Section 12.22. Brokerage Fees. Landlord shall pay to CBRE (the “Broker”) a brokerage commission ("Commission") pursuant to the terms and conditions of that certain separate brokerage agreement entered into by and between the Landlord and the Broker, equivalent to the 5% (five percent) of the applicable rent for the first 5 (five) years of the Lease Schedule and 2.5% (two point five percent) of the rent applicable to the remaining years of the Lease Schedule. Each Party agrees to indemnify and hold the other party free and harmless from and against any damages and losses resulting from any claims for brokerage commissions or fees and/or finder’s fees by any person or entity claiming to have been retained by a party in connection with this transaction or to be the procuring cause of this transaction. Landlord and Tenant represent to each other that none of them has hired the services of any person other than the Broker in connection with the negotiation and execution of this Agreement. | |||||||
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Lista de Anexos/ List of Annexes
Anexo / Annex “1” |
| Plano de ubicación del Terreno / Land Location Plan |
Anexo / Annex "2" |
| Condiciones y Lineamientos de Inversión / Invesment Conditions and Guidelines |
Anexo / Annex "3" |
| Modelo de Anexo de Arrendamiento / Model of Lease Schedule |
Anexo / Annex “4” |
| Reglamento del Parque / Park Regulations |
Anexo /Annex “5” |
| Modelo de Determinación de Rentas / Model of Rent Determination |
Anexo / Annex “6” Anexo / Annex “7” |
| Modelo de Garantía de Arrendamiento / Model of Lease Guaranty Métricas Financieras del Arrendatario y/o Fiador / Financial Metrics of the Tenant and/or the Guarantor |
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Anexo / Annex “8” |
| Formato de Opción de Compra / Form of Purchase Option |
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Plano de ubicación del Terreno / Land Location Plan
Ver página anexa / See attached page
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Condiciones y Lineamientos de Inversión / Invesment Conditions and Guidelines
Ver [__] páginas anexas / See [__] pages attached
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Modelo de Anexo de Arrendamiento / Model of Lease Schedule
Anexo de Arrendamiento No. [_] De fecha [_] |
| Lease Schedule No. [_], Dated [_] |
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El presente es un Anexo de Arrendamiento suscrito de conformidad con el Contrato de Arrendamiento Maestro Sujeto a Condición de fecha [_] de 2017 (el “Contrato de Arrendamiento”) celebrado entre QVCII, S. de R.L. de C.V. (la “Arrendadora”), y TPI-Composites II, S. de R.L. de C.V. (la “Arrendataria”). |
| This is a Lease Schedule executed pursuant to the Master Lease Agreement Subject to Condition, dated [_], 2017 (the “Lease Agreement”), by and between QVCII, S. de R.L. de C.V. (the “Landlord”), and TPI-Composites II, S. de R.L. de C.V. (the “Tenant”). |
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De acuerdo con lo requerido por el Contrato de Arrendamiento, las partes de este Anexo de Arrendamiento lo suscriben de conformidad con las siguientes disposiciones: |
| As required by the Lease Agreement, the parties hereto enter into this Lease Schedule in accordance with the following provisions: |
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1. Términos Definidos. Los términos con mayúscula que aparecen en este Anexo de Arrendamiento, se usan con los significados que se les atribuye a dichos términos en el Contrato de Arrendamiento, excepto que se definan de otra manera en este Anexo de Arrendamiento. |
| 1. Defined Terms. Capitalized terms herein are used with the meanings assigned to such terms under the Lease Agreement, except as otherwise defined herein. |
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2. Descripción del Edificio. El Edificio objeto de este Anexo de Arrendamiento tendrá un área total rentable de [__] m2 y se construirá de conformidad con las Especificaciones que conforman el Anexo “1” de este Anexo del Arrendamiento. |
| 2. Description of Building. The Building matter of this Schedule, will have a total leasable area of [__] m2, will be built in accordance with the Specifications attached as Annex “1” of this Lease Schedule. |
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3. Vigencia de este Anexo. La vigencia de este Anexo de Arrendamiento es de 10 (diez) años, a partir de la Fecha de Ocupación Substancial. |
| 3. Term of this Schedule. The term of this Lease Schedule is 10 (ten) calendar years, starting on the Date of Substantial Occupancy. |
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4. Fechas de Entrega. Sujeto a las disposiciones del Contrato de Arrendamiento, la Ocupación Anticipada ocurrirá en o antes del día [__], la Ocupación Benéfica ocurrirá, en o antes del día [_] y el Edificio será entregado en estado de Ocupación Sustancial en o antes del día [_] dicha fecha se considerará como la “Fecha de Inicio del Arrendamiento”. |
| 4.Delivery Dates: Subject to the provisions of the Lease Agreement, the Early Occupancy shall be delivered on or before [__], the Beneficial Occupancy shall be delivered on or before [_], and the Building shall be delivered in state of Substantial Occupancy on or before [_], such date will be deemed as, the “Lease Commencement Date”. |
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En términos de lo previsto en el Inciso 2.03 del Contrato de Arrendamiento, el Edificio y la correspondiente Lista de Pendientes deberán concluirse en o antes de la fecha que sea 30 (treinta) días naturales posteriores a la Fecha de Ocupación Substancial. |
| In terms of that set forth in Section 2.03 of the Lease Agreement, the Building and the corresponding Punch List, shall be finished on or before the date that is 30 (thirty) calendar days following the Date of Substantial Occupancy. |
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Reglamento del Parque / Park Regulations
Ver [__] páginas anexas / See [__] pages attached
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Modelo de Determinación de Rentas / Rent Determination Model
Ver página anexa / See page attached
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Modelo de Garantía de Arrendamiento / Model of Lease Guaranty
LEASE GUARANTY
This Guaranty of Lease is made and entered into on this [__], day of [__] of 2017, by TPI Composites Inc, a corporation validly incorporated and legally existing under the laws of ___________________, having its principal place of business at ___________________________ (the "Guarantor"), in favor of QVCII, S. de R.L. de C.V., a corporation validly incorporated and legally existing under the laws of the United Mexican States, having its domicile at Paseo de Tamarindos 90, torre 2, piso 28, Col. Bosques de las Lomas, Cuajimalpa de Morelos, CP 05120, Ciudad de Mexico (the "Landlord"). Guarantor covenants and agrees follows:
RECITALS
(A) | On [__]th, 2017 TPI- Composites II, S. de R.L. de C.V. as tenant (the “Tenant”) and the Landlord, entered into a certain Master Lease Agreement Subject to Condition, regarding the lease of an industrial building to be built by the Landlord within a lot of land of approximately 21.6 hectares, neighboring with “Parque Industrial las Ventanas”, in the city of Matamoros, Tamaulipas (the “Master Lease”), for it to be used by the Tenant. |
(C) | The Guarantor, as ultimate parent of the Tenant, has agreed to guarantee in the manner hereinafter set forth the due and timely payment by the Tenant of its obligations under the Lease Agreement. |
(D) | In order to comply with the terms of the Master Lease, the Guarantor hereby executes and delivers this Lease Guaranty for the benefit of the Landlord; and |
(D) | Defined terms used in the Master Lease are used herein as therein defined, unless otherwise expressly defined herein |
Now therefore, the Guarantor hereby expressly agrees as follows:
AGREEMENT
1. Guaranty. For valuable consideration, Guarantor absolutely and unconditionally guarantees to and for the benefit of Landlord, the full, timely and complete payment, observance and performance by Tenant of all of the terms, covenants and conditions to be performed by Tenant in connection with or arising out of the Lease (collectively, the "Guaranteed Obligations"), including but not limited to any such obligations arising out of any extension of the term of the Lease regardless of whether such Guaranteed Obligations may, from time to time, be greater than the obligations of Tenant.
1.1The Guaranteed Obligations include, without limitation, (i) all of Tenant’s obligations to pay "Rent" (as described in the Lease), insurance, and reimbursement of expenses such as property tax and all of Tenant’s indemnification obligations under the Lease (including but not limited to all obligations arising with respect to "Contamination Conditions" and "Hazardous Materials" as defined in the Lease), and (ii) penalties on any monetary obligations until paid in full on the terms and conditions set forth in the Lease.
1.2The Guaranteed Obligations do not include any obligations of Tenant which are finally determined by the courts to be excused or limited as a material breach of any material obligation of Landlord under the Lease, but payment and/or performance of the Guaranteed Obligations by Guarantor shall not be delayed, forgiven or offset pending any such determination. This Guaranty constitutes an absolute, direct,
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immediate and unconditional guarantee of timely payment, observance and performance, and not merely of collectability, and includes, without limitation, all primary, secondary, direct, indirect, fixed and contingent obligations of Tenant in connection with the Lease, as such may be modified, amended, extended or renewed from time to time.
1.3If Tenant defaults in the payment, performance or observance of any of the terms, covenants, or conditions in the Lease (after any applicable cure period set forth in the Lease), Guarantor will immediately pay, perform and observe the same, as the case may be, in the place and stead of Tenant. Guarantor hereby waives diligence, presentment, demand, protest and notice of any kind whatsoever.
2. Independent and Continuing Obligations. The obligations of Guarantor under this Guaranty are independent obligations of Tenant or of any other guarantor. The obligations of Guarantor under this Guaranty are continuing and irrevocable until all of the Guaranteed Obligations have been fully satisfied.
2.1If at any time all or any part of any payment received by Landlord from Tenant, Guarantor or any other person under or with respect to the Lease or this Guaranty has been refunded or rescinded pursuant to any court order (including without limitation any court order arising out of the insolvency, bankruptcy or reorganization of Tenant, Guarantor or any other guarantor), then Guarantor’s obligations under this Guaranty shall, to the extent of the payment refunded or rescinded, be deemed to have continued in existence, as though such previous payment to Landlord had never occurred.
3. Amendment or Assignment. This Guaranty shall not be affected or limited in any manner by (a) any assignment of, or any modification or amendment (by agreement, course of conduct, or otherwise) to, all or any portion of any agreement, instrument and/or document with respect to, or that evidences the Guaranteed Obligations, or (b) the renewal, extension and/or modification, at any time, of the Lease or any of the Guaranteed Obligations.
3.1By this Guaranty, Guarantor guarantees Tenant's performance of the Guaranteed Obligations as so amended, assigned, renewed, extended or modified, whether or not such amendment, assignment, renewal, extension or modification is with the consent of, or notice to Guarantor. Without limiting the foregoing or affecting in any manner the enforceability of this Guaranty, Landlord may assign its rights under the Lease to a successor in interest to all or a portion of the Building, or the Land, or to a lender encumbering such Building [_] or the Land, and in such case this Guaranty shall also be deemed as assigned in favor to any such lender or successor in interest, without the need any further action, notice, protest or communication of any kind.
4. Remedies. If Tenant defaults with respect to any of the Guaranteed Obligations, Landlord may, at its election, proceed immediately against Guarantor (as if such default arose from the direct and primary obligation of Guarantor), any other guarantor or Tenant, or any combination of Tenant, Guarantor and any other guarantor.
4.1If any portion of the Guaranteed Obligations terminates and Landlord continues to have any rights it may enforce against Tenant under the Guaranteed Obligations after such termination, then Landlord may, at its election, enforce such rights against Guarantor. An action or actions may be brought and prosecuted against Guarantor under this Guaranty, whether or not Tenant or any other guarantor is joined in such action(s) or a separate action or actions are brought against Tenant or any other guarantor.
4.2Landlord may maintain successive actions for separate defaults. Unless and until the Guaranteed Obligations have been fully satisfied, Guarantor shall not be released from its obligations under this Guaranty irrespective of (a) any such action or any number of successive actions, (b) the exercise by Landlord of any of Landlord's rights or remedies (including, without limitation, eviction of Tenant, mitigation of damages as a result thereof, compromise or adjustment of the Guaranteed Obligations or any part thereon), (c) any release by Landlord of either of Tenant or any other guarantor, or (d) the satisfaction by Guarantor of any liability under this Guaranty incident to a particular default.
5. Waiver of Defenses. Guarantor waives and agrees not to assert or take advantage of:
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(a)any right to require Landlord to proceed against Tenant or any other person or any security now or hereafter held by Landlord or to pursue any other remedy whatsoever, including, without limitation, any such right, defense, or any other right set forth in or arising out of Sections 2809, 2810, 2819, 2820, 2822, 2825, 2845, 2850 or 2855 of the California Civil Code, Sections 3603, 9207 or 9504 of the California Commercial Code; and articles 2173, 2174, 2175, 2214, 2216, 2218 and 2219 of the civil code for the State of Tamaulipas.
(b)notice of acceptance of this Guaranty;
(c)any defense based upon any legal disability of Tenant or any guarantor, or any discharge or limitation of the liability of Tenant or any guarantor to Landlord, or any restraint or stay applicable to actions against Tenant or any other guarantor, whether such disability, discharge, limitation, restraint or stay is consensual, or by order of a court or other governmental authority, or arising by operation of law or any liquidation, reorganization, receivership, bankruptcy, insolvency or debtor-relief proceeding, or from any other cause, including, without limitation, any defense to the payment of rent under the Lease, attorneys’ fees and costs and other charges that would otherwise accrue or become payable in respect of the Guaranteed Obligations after the commencement of any such proceeding, it being the intent of the parties that the Guaranteed Obligations shall be determined without regard to any rule of law or order that may relieve Tenant of any portion of such obligations;
(d)setoffs, counterclaims, presentment, demand, protest or notice of any kind and any defense to performance under this Guaranty with the exception of the defenses of (i) prior payment or performance by Tenant or (ii) that there is no obligation on the part of Tenant with respect to the matter claimed to be in default;
(e)right to trial by jury and any action or proceeding of any kind arising under or relating to this Guaranty with any interpretation, breach or enforcement hereof;
(f)any defense based upon the modification, renewal, extension or other alteration of the Guaranteed Obligations, or of the documents executed in connection therewith;
(g)any defense based upon the negligence of Landlord (unless such defense is available to Tenant), including, without limitation, the failure to record an interest under a lease, sublease, or deed of trust, the failure to perfect any security interest, or the failure to file a claim in any bankruptcy of the Tenant or any guarantor;
(h)all rights of subrogation, reimbursement, indemnity, all rights to enforce any remedy that Landlord may have against Tenant, and all rights to participate in any security held by Landlord for the Guaranteed Obligations, including, without limitation, any such right or any other right set forth in Sections 2848 or 2849 of the California Civil Code, until the Guaranteed Obligations have been performed in full, and any defense based upon the impairment of any subrogation, reimbursement or indemnity rights that Guarantor might have.
(i)any defense based upon the death, incapacity, lack of authority or termination of existence or revocation hereof by any person or entity or persons or entities, or the substitution of any party hereto; and
(j)any defense based upon or related to Guarantor’s lack of knowledge as to Tenant’s financial condition.
6. Tenant’s Financial Condition. Guarantor is relying upon its own knowledge and is fully informed with respect to Tenant’s financial condition. Guarantor assumes full responsibility for keeping itself fully informed of the financial condition of Tenant and all other circumstances affecting Tenant’s ability to perform the Guaranteed Obligations, and agrees that Landlord will have no duty to report to Guarantor any information which Landlord receives about Tenant’s financial condition or any circumstances bearing on Tenant’s ability to perform all or any portion of the Guaranteed Obligations.
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7. Default. Each of the following shall constitute a default of Guarantor under this Guaranty:
(a)the failure of Guarantor to perform any of its obligations under this Guaranty;
(b)the commencement of any bankruptcy, insolvency, arrangement, reorganization, or other debtor-relief proceeding under any federal or state law by or relating to Tenant or Guarantor, whether now existing or hereafter enacted; or
(c)the occurrence of a default by Tenant continuing beyond any applicable grace or cure period under the Lease or the failure of any representation or warranty contained herein or in the Lease to be accurate and complete.
Upon an occurrence of a default under this Guaranty as specified above, Landlord may, at its option, without notice or demand upon Guarantor or Tenant, declare the Guaranteed Obligations (or such portion thereof as may be designated by Landlord) immediately due and payable by Guarantor to Landlord.
8. Costs and Expenses. Guarantor hereby agrees to pay, upon demand, Landlord’s reasonable out-of-pocket costs and expenses, including but not limited to legal fees and disbursements, and expert witness fees and disbursements, incurred in any effort to collect or enforce this Guaranty, whether or not any lawsuit is filed, and in the representation of Landlord in any insolvency, bankruptcy, reorganization or similar proceeding relating to Guarantor. Until paid to Landlord, such sums will bear interest from the date such costs and expenses are incurred at the rate set forth in the Lease for past due obligations. The obligations of Guarantor under this Section shall include payment of Landlord’s costs and expenses of enforcing any judgment, which obligations shall be severable from the remaining provisions of this Guaranty and shall survive the entry of judgment.
9. Representations and Warranties. Guarantor makes the following representations and warranties, which shall be deemed to be continuing representations and warranties until payment and performance in full of the Guaranteed Obligations:
(a)Guarantor has all the requisite power and authority to execute, deliver and be legally bound by this Guaranty on the terms and conditions herein stated;
(b)This Guaranty constitutes the legal, valid and binding obligations of Guarantor enforceable against Guarantor in accordance with its terms;
(c)No consent of any other person not heretofore obtained and no consent, approval or authorization of any person or entity is required in connection with the valid execution, delivery or performance by Guarantor of this Guaranty; and
(d)Guarantor is not insolvent, and will not be rendered insolvent by the incurring of its obligations hereunder.
10. Bankruptcy. So long as any Guaranteed Obligations shall be owing to Landlord, Guarantor shall not, without the prior written consent of Landlord, commence, or join with any other person or entity in commencing, any bankruptcy, reorganization, or insolvency proceeding against Tenant. The obligations of Guarantor under this Guaranty shall not be altered, limited, or affected by any proceeding, voluntary or involuntary, involving the bankruptcy, insolvency, receivership, reorganization, liquidation, or arrangement of Tenant, or by any defense Tenant may have by reason of any order, decree, or decision of any court or administrative body resulting from any such proceeding.
11. Miscellaneous
1.1.Further Assurances. Each party to this Guaranty shall execute all instruments and documents and take all actions as may be reasonably required to effectuate this Guaranty.
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1.2.Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of California.
1.3.Arbitration. Any dispute, controversy or claim arising out of or relating to this Guaranty, including the formation, interpretation, breach or termination thereof, including whether the claims asserted are arbitrable, will be referred to and finally determined by arbitration in accordance with the JAMS International Arbitration Rules ("Rules") and the procedures set forth below. The tribunal will consist of a single arbitrator. The place of arbitration will be San Diego, CA. The language to be used in the arbitral proceedings will be English. Judgment upon the award rendered by the arbitrator may be entered by any court having jurisdiction thereof.
1.3.1.Any Party may at any time give notice of intent to arbitrate by providing notice addressed to the other party in accordance with the Notice provisions in this Guaranty.
1.3.2.Within fifteen (15) days after a Notice has been served, the Parties shall select one (1) arbitrator in accordance with the Rules.
1.3.3. Unless the parties mutually agree in writing to some specific pre-hearing discovery, there shall be no pre-hearing discovery other than (a) reasonable, limited production of relevant documents, (b) the identification of witnesses to be called at the hearing, and (c) subpoena of witnesses and documents for presentation at the hearing. The arbitrator shall decide any disputes and shall control the process concerning these pre-hearing discovery matters.
1.3.4.Within fifteen (15) days following the appointment of the arbitrator, each party shall deliver to the arbitrator and to the other party a written brief setting forth its view of the facts and law, its position on the dispute, and the requested decision to be made by the arbitrator. The brief shall also identify generally the written evidence and the witnesses that the Party expects to present at the arbitration hearing, the description of documents the party wants to be produced for inspection and the names or titles of witnesses. The arbitration hearing shall commence as soon as feasible, and in all cases within forty five (45) days following the appointment of the arbitrator.
1.3.5.The Arbitrator may grant any legal or equitable remedy or relief that the arbitrator deems just and equitable and may make such interlocutory orders and prescribe such interim measures to apply as he deems appropriate, pending a final resolution by award of outstanding questions or issues.
1.3.6.The expenses of the arbitration, including the arbitrator's fees, expert witness fees, and attorneys' fees may be awarded to the prevailing party in the discretion of the arbitrator. Unless and until the arbitrator decides that one party is to pay for all (or a disproportionate share) of such expenses, both parties shall share equally in the payment of the arbitrator's fees as and when billed by the arbitrator. Should any party refuse to pay its portion of such expenses, the other party may do so, and the costs so incurred must be addressed in the arbitral award to be issued by the arbitrator.
1.3.7.The Parties shall keep confidential the fact of the arbitration, the dispute being arbitrated, and the decision of the arbitrator. Notwithstanding the foregoing, the parties may disclose information about the arbitration to persons who have a need to know, such as directors, trustees, management employees, the parties' attorneys, lenders, insurers, authorities and others who may be directly affected. Once the arbitration award has become final, if the arbitration award is not promptly satisfied, then these confidentiality provisions shall no longer be applicable as against the nonperforming Party.
1.3.8.The decisions or awards of the Arbitrator shall be final and binding upon the Parties affected thereby and each of the Parties hereby irrevocably and expressly covenants to comply promptly and in good faith with any and all such decisions or awards. Judgment upon the award rendered by the arbitrator may be enforced in any court having jurisdiction thereof or in any jurisdiction where Guarantor has assets.
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1.3.9.The parties agree that the arbitral award, if not satisfied within five (5) days of the date of the award may converted into a judgment in the United States, Mexico or any other jurisdiction at the election of the prevailing party in order to enforce it.
1.3.10.The Parties hereby waive to any objection they might have to the entry of a foreign arbitral award.
1.3.11. In the event that the arbitration results in an award against Guarantor, Guarantor shall satisfy the award within five (5) days of the date of the award and in the event that Guarantor fails to do so Guarantor hereby stipulates that Guarantor agrees that the award may be converted to, and entered as a judgment in any and all jurisdictions in which the Guarantor is doing business on an ex-parte basis by providing Guarantor forty eight (48) hour advance notice.
1.3.12.The Parties hereby agree that all the transactions contemplated by this Agreement shall be deemed to constitute commercial activities. To the extent that any one or more of the Parties may in its jurisdiction claim for itself or any of its agencies, instrumentalities, properties or assets, immunity, whether characterized as sovereign or otherwise, or other statutory defenses, from suit, execution, set-off, attachment (whether in aid of execution, before judgment or otherwise) or other legal process including, without limitation, immunity from service of process or from jurisdiction of the arbitration, or of its assets, such immunity (whether or not claimed), such claims or defenses are hereby expressly and irrevocably waived.
1.4.Attorney's Fees. The prevailing party in any litigation, arbitration, mediation, bankruptcy, insolvency or other proceeding (collectively, "Proceeding") relating to the enforcement or interpretation of this Guaranty may recover from the unsuccessful party all reasonable costs, expenses and reasonable attorneys' fees (including expert witness and other consultants' fees and costs) relating to or arising out of (a) any such Proceeding (whether or not the Proceeding proceeds to judgment or award), and (b) any post-judgment or post-award proceeding including, without limitation, one to enforce or collect on any judgment or award resulting from the Proceeding. All such judgments and awards shall contain a specific provision for the recovery of all such subsequently incurred costs, expenses and actual attorneys' fees.
1.5.Modification. This Guaranty may be modified only in the case that written consent by Landlord is obtained.
1.6.Integration. This Guaranty contains the entire agreement between the parties to this Guaranty with respect to the subject matter of this Guaranty, is intended as a final expression of such parties' agreement with respect to the subject matter of this Guaranty, is intended as a complete and exclusive statement of the terms of such agreement, and supersedes all negotiations, stipulations, understandings, agreements, representations and warranties, if any, with respect to such subject matter which precede or accompany the execution of this Guaranty.
1.7.No Extrinsic Evidence. No course of conduct between the parties, no custom or practice in the industry, and no parol or extrinsic evidence of any kind or nature shall be used in the interpretation of this Guaranty nor used to alter, supplement or modify any of the terms of this Guaranty. There are no conditions to the effectiveness or enforceability of this Guaranty or any provision hereof except (if any) as may be specifically set forth in this Guaranty.
1.8.Partial Invalidity. Each provision of this Guaranty shall be valid and enforceable to the fullest extent permitted by law. If any provision of this Guaranty or the application of such provision to any person or circumstance is or becomes, to any extent, invalid or unenforceable, the reminder of this Guaranty, or the application of such provision to persons or circumstances other than those as to which it is held invalid or unenforceable, are not affected by such invalidity or unenforceability, unless such provision or such application of such provision is essential to this Guaranty.
1.9.Successors-in-Interest and Assigns. This Guaranty is binding on and inures to the benefit of the successors-in-interest and assigns of Landlord and Guarantor. Nothing in this paragraph creates any rights
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enforceable by any person or entity other than Landlord and Guarantor and their successors-in-interest and assigns.
1.10.Notices. Each notice and other communication required or permitted to be given under this Agreement ("Notice") must be in writing. Notice is duly given to another party upon: (a) hand delivery to the other party, or (b) the next business day after the Notice has been deposited with a reputable overnight international delivery service, postage prepaid, addressed to the party as set forth below with next-business-day delivery guaranteed, provided that the sending party receives a confirmation of delivery from the delivery-service-provider. All notices must be made to the domiciles of the parties set forth in the first paragraph of this Lease Guaranty.
Each party shall make a reasonable, good faith effort to ensure that it will accept or receive Notices that are given in accordance with this paragraph. A party may change its address for purposes of this paragraph by giving the other party written notice of a new address in the manner set forth above.
1.11.Waiver of Default. Any waiver of a default under this Guaranty must be in writing and is not a waiver of any other default concerning the same or any other provision of this Guaranty. No delay or omission in the exercise of any right or remedy may impair such right or remedy or be construed as a waiver. A consent to or approval of any act does not waive or render unnecessary consent to, or approval of any other or subsequent act.
IN WITNESS WHEREOF, the parties hereto have executed this Guaranty as of the date first above written.
GUARANTOR TPI Composites, Inc. | ||
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INCUMBENCY CERTIFICATE |
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The undersigned, _________________________, ____________ of TPI Composites, Inc (the “Company”), certifies that the representative who signed above is duly authorized and empowered to bind the Company and to execute this Lease Guaranty dated as of [_], 201[__], which the Company is issuing in favor of QVCII, S. de R.L. de C.V., and that the signature above the name of such representative, is the signature legally used by him/her when signing binding documents on behalf of the Company.
Executed in [__], this [_] day of [___] of 201[_].
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Métricas Financieras del Arrendatario y/o Fiador / Financial Metrics of the Tenant and/or the Guarantor
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Formato de Opción de Compra / Form of Purchase Option
Ver [___] páginas anexas / See [__] pages attached
| September 20, 2017 | |
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TPI Composites II, S. de R.L. de C.V.
Libramiento Aeropuerto 10073, Colonia Lote Bravo, Ciudad Juárez, Chihuahua, CP 32695
Estimado señores:
Hacemos referencia al contrato maestro de arrendamiento que con fecha 25 de mayo de 2017 (el “Contrato Maestro”), celebraron por una parte TPI-Composites II, S. de R.L. de C.V. como arrendatario (“TPI”) y QVCII, S. de R.L. de C.V. como arrendador (“Vesta”), con motivo de la posible compra por parte de Vesta de un terreno parte del predio el Ballineño, que colindan con el Parque Industrial las Ventanas, en la ciudad de Matamoros, Tamaulipas, para ahí desarrollar un cierto edificio industrial para TPI, de acuerdo a los términos a ser estipulados en el Anexo de Arrendamiento No. 1 a celebrarse conforme al Contrato Maestro. Los términos definidos que se utilizan en el Contrato Maestro, se usan aquí con el mismo significado ahí atribuido, a menos de que expresamente se les atribuya un significado diferente.
En relación con lo anterior, y toda vez que en el Inciso 1.01 del Contrato Maestro, las partes acordaron ciertas fechas límite para el cumplimiento de las Condiciones y dicha fecha ha transcurrido sin que se hubieran cumplido las Condiciones, por este medio las partes convienen expresamente en extender las fechas aplicables a las Condiciones para que las mismas se cumplan en o antes del día 31 de octubre de 2017, de lo contrario las partes reconocen que lo previsto en el Inciso 1.02 del Contrato Maestro será aplicable.
En caso de estar de acuerdo con los términos de la presente, solicitamos a ustedes firmar de conformidad en el espacio aquí previsto y devolver un original a la atención de cualquiera de los suscritos.
Atentamente, |
| TPI Composites II, S. de R.L. de C.V.
Libramiento Aeropuerto 10073, Colonia Lote Bravo, Ciudad Juárez, Chihuahua, CP 32695
Dear Sirs:
Reference is made to the master lease agreement dated as of May 25th, 2017 (the “Master Lease”), executed by and between TPI Composites II, S. de R.L. de C.V. as tenant (“TPI”) and QVCII, S. de R.L. de C.V. as landlord (“Vesta”), in connection with a possible purchase by Vesta of a piece of land of the predio Ballineño, adjacent to the Parque Industrial Las Ventanas, in Matamoros, Tamaulipas, in order to develop an industrial building for TPI, as per the terms to be established in Lease Schedule No. 1 to be executed under the terms of the Master Lease. Defined terms used in the Master Lease, are used herein as therein defined, unless otherwise expressly defined herein.
Regarding the foregoing, and considering that within Section 1.01 of the Master Lease the parties agreed to certain dates as limit for the fulfillment of the Conditions and such date has elapsed without the Conditions having been fulfilled, by this means the parties expressly agree to extend the dates applicable to the Conditions, for the same to be fulfilled on or before October 31, 2017, otherwise, the parties acknowledge that the provisions of Section 1.02 of the Master Lease shall be applicable.
Should this agreement meet with your approval, please execute this instrument as evidence of your agreement and return one original to the attention of any of the undersigned.
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/s/ Lorenzo Manuel Berho Corona Por/By: Lorenzo Manuel Berho Corona Cargo/ Title: Apoderado / Attorney in fact |
| /s/ Lorenzo Dominique Berho Caranza Por/By: Lorenzo Dominique Berho Carranza Cargo/ Title: Apoderado / Attorney in fact |
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Este instrumento se firma a los 20 días del mes de septiembre de 2017, como evidencia de su aceptación y acuerdo con todos y cada uno de los términos aquí previstos. |
| This instrument is signed this 20 day of September of 2017, as evidence of its acceptance and agreement with each and all of the terms set forth herein. |
TPI Composites II, S. de R.L. de C.V.
/s/ Victor Manuel Saenz Saucedo
Por/ By: Victor Manuel Saenz Saucedo
Cargo / Title: Apoderado / Attorney in fact
Anexo de Arrendamiento No. 1 De fecha 29 de septiembre de 2017 |
| Lease Schedule No. 1 Dated 29th of September of 2017 |
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El presente es un Anexo de Arrendamiento suscrito de conformidad con el Contrato de Arrendamiento Maestro Sujeto a Condición de fecha 25 de mayo de 2017, según modificado por convenio con efectos al 20 de septiembre de 2017 (el “Contrato de Arrendamiento”) celebrado entre QVCII, S. de R.L. de C.V. (la “Arrendadora”) y TPI-Composites II, S. de R.L. de C.V. (la “Arrendataria”). |
| This is a Lease Schedule executed pursuant to the Master Lease Agreement Subject to Condition, dated May 25th, 2017, as amended by amendment dated as of September 20th, 2017 (together, the “Lease Agreement”), by and between QVCII, S. de R.L. de C.V. (the “Landlord”) and TPI-Composites II, S. de R.L. de C.V. (the “Tenant”). | ||||
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No obstante lo dispuesto en el Inciso 3.01 del Contrato de Arrendamiento, las partes suscriben este Anexo de Arrendamiento No. 1 aunque las Condiciones no han sido cumplidas; por lo que convienen expresamente que este Anexo de Arrendamiento No. 1 sólo surtirá efectos a partir de la fecha en que las Condiciones hayan sido cumplidas en los términos acordados en el Contrato de Arrendamiento, según el mismo haya sido modificado, suplementado o adicionado a esta fecha. |
| Notwithstanding that set forth in Section 3.01 of the Lease Agreement, the parties execute this Lease Schedule No. 1 even though the Conditions have not been met; therefore, expressly agree that this Lease Schedule No. 1 will only produce its effects from the date in which the Conditions are met in the terms agreed in the Lease Agreement, as the same may have been modified, supplemented or added as of the date hereof. | ||||
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De acuerdo con lo requerido por el Contrato de Arrendamiento, las partes de este Anexo de Arrendamiento No. 1 lo suscriben de conformidad con las siguientes disposiciones: |
| As required by the Lease Agreement, the parties hereto enter into this Lease Schedule No.1 in accordance with the following provisions: | ||||
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1. Términos Definidos. Los términos con mayúscula que aparecen en este Anexo de Arrendamiento No. 1, se usan con los significados que se les atribuye a dichos términos en el Contrato de Arrendamiento, excepto que se definan de otra manera en este Anexo de Arrendamiento No. 1. |
| 1. Defined Terms. Capitalized terms appearing in this Lease Schedule No. 1 are used with the meanings assigned to such terms under the Lease Agreement, except as otherwise defined in this Lease Schedule No. 1. | ||||
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2. Terreno. Las partes hacen constar que la medida del Terreno a ser adquirido por el Arrendador conforme a lo dispuesto en el Contrato de Arrendamiento es de 152,170 m2 (ciento cincuenta y dos mil ciento setenta metros cuadrados). |
| 2. Land. The parties hereby certify that the size of the Land to be acquired by the Landlord pursuant to the Lease Agreement is of 152,170 m2 (one hundred fifty two thousand one hundred and seventy square meters). | ||||
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3. Descripción del Edificio. El Edificio objeto de este Anexo de Arrendamiento No. 1 tendrá un área total rentable de 49,001 m2 (cuarenta y nueve mil un metros cuadrados) y se construirá de conformidad con las Especificaciones que conforman el Anexo “1” de este Anexo del Arrendamiento. |
| 3. Description of Building. The Building subject matter of this Lease Schedule No. 1, will have a total leasable area of 49,001 m2 (forty nine thousand and one square meters) and will be built in accordance with the Specifications attached as Annex “1” of this Lease Schedule. | ||||
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4. Vigencia de este Anexo. La vigencia de este Anexo de Arrendamiento será de 10 (diez) años, a partir de la Fecha de Ocupación Substancial. |
| 4.Term of this Schedule. The term of this Lease Schedule will be 10 (ten) calendar years, starting on the Date of Substantial Occupancy. | ||||
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Lista de Anexos / List of Annexes
Anexo / Annex “1” | Especificaciones / Specifications |
Anexo / Annex “2” | Determinación de la Renta / Rent Determination |
Anexo / Annex “3” | Garantía de Arrendamiento / Lease Guaranty |
Anexo / Annex “4” | Garantía Adicional / Additional Collateral |
Anexo / Annex “5” | Manual de Mantenimiento / Maitenance Manual |
Anexo / Annex “6” | Bienes del Arrendatario / Tenant’s Property |
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