Item 1.01. Entry into a Material Definitive Agreement.
On December 31, 2020, Manitex International, Inc. (the "Company") entered into a
Third Amendment to Lease (the "Lease Amendment") to the Lease Agreement dated
May 26, 2010, between the Company and KB Building, LLC, an Illinois limited
liability company (the "Lessor"), as amended by the first Lease Amendment dated
June 6, 2014 and the second Lease Amendment dated October 3, 2018 (as so
amended, the "Lease"). Pursuant to the Lease, the Company leases the land and
building located at 9725 South Industrial Drive, Bridgeview, Illinois 60455 (the
"Property"). Pursuant to the Lease Amendment, the expiration of the initial
lease term was extended from May 31, 2025 to May 31, 2027. The Lease Amendment
also modified the optional extension provisions of the Lease, such that the
Company will have the option to extend the term of the Lease for two additional
five-year periods, beginning on June 1, 2027 and June 1, 2032. In addition, the
Lease Amendment eliminated the Company's option to purchase and the Lessor's
option to require the Company to purchase the Property that previously existed
under the Lease.
In connection with the Lease Amendment, TP Bridgeview LLC, a Delaware limited
liability company and an unaffiliated third party, acquired the Lease and the
Property effective December 31, 2020, and will be the lessor under the Lease
going forward.
The description of the Lease Amendment set forth herein does not purport to be
complete and is qualified in its entirety by reference to the full text of the
Lease Amendment as attached as Exhibit 10.1 to this Current Report on Form 8-K
and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No. Description
10.1 Lease Amendment, dated December 31, 2020, between the Company and KB
Building, LLC.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses