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Quotes & Info
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| BVSN > SEC Filings for BVSN > Form 8-K on 28-May-2009 | All Recent SEC Filings |
28-May-2009
Termination of a Material Definitive Agreement
As previously reported, on December 21, 2006, BroadVision, Inc. ("Broadvision") entered into a sublease agreement (the "Sublease Agreement") with Dexterra, Inc. ("Dexterra") to sublease the second floor of Building 6 in Pacific Shores Center containing approximately 22,509 rentable square feet of office space located at 1600 Seaport Boulevard, Redwood City, California. The original sublease term commenced on January 8, 2007 (the "Commencement Date") and expires on June 30, 2012 unless earlier terminated. Pursuant to the terms of the Sublease Agreement, Dexterra has the right to terminate the sublease at the end of the 36th month from the Commencement Date, upon six months' prior written notice to BroadVision and payment of a termination fee equal to three months' base rent.
On May 22, 2009, BroadVision received written notice from Dexterra of its exercise of its right to early termination of the Sublease Agreement and payment of the applicable termination fee.
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