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ELLI > SEC Filings for ELLI > Form 8-K on 21-Jul-2014All Recent SEC Filings

Show all filings for ELLIE MAE INC

Form 8-K for ELLIE MAE INC


21-Jul-2014

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


Item 1.01 Entry into a Material Definitive Agreement.
On July 17, 2014, Ellie Mae, Inc. ("Ellie Mae") and SFI Pleasanton, LLC (the "Landlord") entered into a lease agreement (the "Lease") with respect to approximately 105,452 rentable square feet of space located at 4420 Rosewood Drive, Pleasanton, California 94588 (the "Premises"). Ellie Mae entered into the Lease in anticipation of the expiration of the lease for its current corporate headquarters in Pleasanton, California in April 2015.
The term of the Lease commences on April 1, 2015 and has an initial term of 117 months ending December 31, 2024. Under the terms of the Lease, Ellie Mae has the option to renew the Lease one time for a five (5) year term at prevailing market rates. Ellie Mae also has a right of first offer to lease additional space on the Premises.
Under the terms of the Lease, the Company shall be obligated to make monthly rent payments as set forth below:
Period During Lease Term  Monthly Rent    Annual Rent
4/1/2015 - 3/31/2016*    $  263,630.00  $ 3,163,560.00
4/1/2016 - 3/31/2017     $  271,538.90  $ 3,258,466.80
4/1/2017 - 3/31/2018     $  279,685.07  $ 3,356,220.84
4/1/2018 - 3/31/2019     $  288,075.62  $ 3,456,907.44
4/1/2019 - 3/31/2020     $  296,717.89  $ 3,560,614.68
4/1/2020 - 3/31/2021     $  305,619.42  $ 3,667,433.04
4/1/2021 - 3/31/2022     $  314,788.01  $ 3,777,456.12
4/1/2022 - 3/31/2023     $  324,231.65  $ 3,890,779.80
4/1/2023 - 3/31/2024     $  333,958.60  $ 4,007,503.20
4/1/2024 - 12/31/2024    $  343,977.35  $ 4,127,728.20

*Monthly rent for the period commencing on April 1, 2015 and continuing through December 31, 2015 is subject to abatement.
In addition to its rent obligation, Ellie Mae is also responsible for certain costs and charges specified in the Lease, including certain operating expenses, taxes and insurance.
In connection with the Lease, Ellie Mae also entered into a customary Subordination, Non-Disturbance and Attornment Agreement with the Landlord's lender.
The foregoing summary of the Lease is qualified in its entirety by reference to the full text of the Lease, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.



Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant
(a) Creation of a Direct Financial Obligation. The description of the Lease in "Item 1.01. Entry into a Material Definitive Agreement" of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference. This description is qualified in its entirety by reference to the full text of the Lease, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.


   Exhibit No.         Description

          10.1         Lease, dated July 17, 2014, between SFI PLEASANTON, LLC and
                       ELLIE MAE, INC.


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