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AMD > SEC Filings for AMD > Form 8-K on 26-Mar-2013All Recent SEC Filings

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Form 8-K for ADVANCED MICRO DEVICES INC


26-Mar-2013

Entry into a Material Definitive Agreement


ITEM 1.01 Entry into a Material Definitive Agreement; ITEM 2.03 Creation of a
Direct Financial Obligation or an Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On March 26, 2013, Advanced Micro Devices, Inc. (the "Company") consummated a sale leaseback transaction pursuant to an agreement of purchase and sale dated March 11, 2013 (the "Purchase Agreement") with 7171 Southwest Parkway Holdings, LP ("7171 Holdings") in which the Company sold its Lone Star Campus located at 7171 Southwest Parkway, Austin, Texas (the "Property") to 7171 Holdings. Pursuant to the terms of the Purchase Agreement, on March 26, 2013, 7171 Holdings entered into a master lease agreement (the "Master Lease Agreement") with Lantana HP, Ltd ("Sublandlord") with respect to 812,350 rentable square feet and common areas (the "Premises") of the Property. On March 26, 2013, the Company also entered into a sublease agreement with Sublandlord (the "Sublease Agreement") covering the Premises and entered into a consent agreement with 7171 Holdings and Sublandlord (the "Consent") setting forth additional agreements among the parties relating to the Sublease Agreement and the Master Lease Agreement. We expect base rent payments during the 12-year lease term of approximately $120 million. In addition to base rent, we will also pay operating costs, impositions, electrical costs and chilled water costs for the Premises ("Additional Rent"). Additional Rent is based on actual costs and the amount could be material.

A summary of the material terms of the Purchase Agreement, Sublease Agreement, Master Lease Agreement and Consent was disclosed in a Current Report on Form 8-K filed with the Securities and Exchange Commission on March 12, 2013 (the "Original 8-K") and is incorporated herein by reference. The summary herein and provided in the Original 8-K does not purport to be complete and is qualified in its entirety by reference to the Purchase Agreement, Sublease Agreement, Consent and Master Lease Agreement, copies of which will be filed with the Company's next quarterly report on Form 10-Q.


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