ICANN Resolutions » 2000-07-16 - Sublease for Additional Office Space
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Board authorizes President to enter into an addendum to ICANN's lease for its present office space to inculde additional office space.
WHEREAS, the University of Southern California, from which the Corporation currently subleases its offices in Marina del Rey, has offered to amend the sublease to add additional, adjacent office space to the demised premises;
WHEREAS, the Board determines that entry of this sublease is in the best interests of the Corporation;
Resolved [00.54], that the President is authorized on behalf of the Corporation to enter into an addendum to the Corporation's lease for its present offices in Marina del Rey under which additional office space, consisting of approximately 2435 rentable square feet, is added to the demised premises with additional rent not to exceed $5000 per month and improvement costs borne by the Corporation not to exceed $40,000;
Resolved further [00.55], that the President is authorized to include in the addendum authorized by resolution 00.54 a provision under which the improvement costs borne by the Corporation are to be paid over the remaining term of the sublease with an interest rate not to exceed 12% per annum.