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AWAY > SEC Filings for AWAY > Form 8-K on 9-Jul-2013All Recent SEC Filings

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Form 8-K for HOMEAWAY INC


9-Jul-2013

Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligatio


Item 1.01 Entry into a Material Definitive Agreement.

On July 3, 2013, HomeAway, Inc. (the "Company") entered into a lease agreement (the "Lease") with Domain Junction 2, LLC (the "Landlord") for the lease of approximately 114,665 square feet of office space at The Domain, located at 11800 Domain Blvd., Suite 200, Austin, Texas 78758. A brief description of the material terms of the Lease are set forth below in Item 2.03, Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant, and are hereby incorporated by reference in this Item 1.01 of this Current Report on Form 8-K.



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

As set forth in Item 1.01 of this Current Report on Form 8-K, on July 3, 2013, the Company entered into the Lease with the Landlord. The material terms of the Lease are set forth below.

The term of the Lease is eleven and one-half (11 1/2) years and is scheduled to commence on September 1, 2014. The commencement date may be adjusted in the event the Landlord does not complete the construction of the building subject to the Lease prior to such date. In the event the Landlord does not commence construction by December 15, 2013, or deliver the building subject to the Lease to the Company by December 15, 2014, the Company has the option to terminate the Lease.

The rent obligations over the term are summarized below. The time periods set forth below assume a Lease commencement date of September 1, 2014 and may be subject to adjustment, as described above.

                From           To             Floors         Monthly Rent
                9/1/2014     6/30/2015             2 & 3     $  107,898.94
                7/1/2015     8/31/2015          2, 3 & 4     $  107,898.94
                9/1/2015     2/29/2016          2, 3 & 4     $  166,022.15
                3/1/2016     8/31/2016       2, 3, 4 & 5     $  221,207.90
                9/1/2016     8/31/2017       2, 3, 4 & 5     $  225,985.60
                9/1/2017     8/31/2018       2, 3, 4 & 5     $  230,763.31
                9/1/2018     8/31/2019       2, 3, 4 & 5     $  235,541.02
                9/1/2019     8/31/2020       2, 3, 4 & 5     $  240,318.73
                9/1/2020     8/31/2021       2, 3, 4 & 5     $  245,096.44
                9/1/2021     8/31/2022       2, 3, 4 & 5     $  249,874.15
                9/1/2022     8/31/2023       2, 3, 4 & 5     $  254,651.85
                9/1/2023     8/31/2024       2, 3, 4 & 5     $  259,429.56
                9/1/2024     8/31/2025       2, 3, 4 & 5     $  264,207.27
                9/1/2025     2/28/2026       2, 3, 4 & 5     $  268,984.98

The Lease provides the Company with the opportunity for two (2) renewal terms of five (5) years each, provided that the rent would be subject to a market adjustment at the beginning of each renewal term.

The foregoing is only a brief description of the material terms of the Lease, does not purport to be a complete description of the rights and obligations of the parties thereunder, and is qualified in its entirety by reference to the Lease that will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the period ending June 30, 2013.


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