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| ACW > SEC Filings for ACW > Form 8-K on 21-Dec-2012 | All Recent SEC Filings |
21-Dec-2012
Termination of a Material Definitive Agreement, Financial Statements and Exhibits
On December 6, 2012, Imperial Group, L.P. ("Imperial"), a wholly-owned subsidiary of Accuride Corporation ("Accuride"), entered into a Lease Termination Agreement for property at 160 Kirby Road, Portland, Tennessee (the "Lease Termination Agreement"). The parties to the Lease Termination Agreement are Imperial, Accuride, North American Stamping Group, LLC ("NASG") and Industrial Realty Partners, LLC (the "Current Owner"). Pursuant to the Lease Termination Agreement, the Amended and Restated Build to Suit Industrial Lease Agreement, dated as of March 17, 2000 (as further amended) (the "Portland Lease") will terminate provided that NASG acquires fee simple title to the underlying property on or before December 31, 2012 (the "Condition Precedent"). Upon satisfaction of the Condition Precedent, Imperial will (i) select a date no later than March 31, 2013 to vacate the premises, (ii) be responsible for making certain repairs to the facility as specified in the agreement, and (iii) pay a $400,000 lease termination fee to NASG by ten (10) days after the date of NASG's acquisition of the property or January 15, 2013, whichever is later. A copy of the Lease Termination Agreement is attached hereto as Exhibit 10.1.
On December 20, 2012, NASG completed its acquisition of fee simple title to the underlying property, satisfying the Condition Precedent to the termination of the Portland Lease. Imperial expects to vacate the premises no later than March 31, 2013.
Exhibits
10.1 Lease Termination Agreement, dated as of December 5, 2012, by and between Imperial Group, L.P., Accuride Corporation, North American Stamping Group, LLC, and Industrial Realty Partners, LLC.
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