I tried to contact your desk number but have no luck, so I send this e-mail to you instead krub. We can call to discuss on this later today.
For easy tracking, I’ve summarized some few outstanding points which we have for TTET as below krub:
1. Interests on 13th floor (Asia Web Direct’s space 531 sq.m.) : After site inspection done last 2 weeks, now TTET would like to have concrete direction from landlord so they can work around their approval. They are very keen to take the space and would like us to help to expedite this. Their target timeline is pretty close that they would like to finalize and sign the L&S agreement within January 2016, then get the space handed over in Feb 1, 2016. Lesae commence on March 1, 2016.
Please help to expedite to provide your feedback whether this timeline is acceptable and also to give the rental for TTET.
I would also like to take this opportunity to ask about the penalty you would like to charge Asia Web Direct for pre-mature termination. But, please consider minimum penalty as TTET will take the space right away and you won’t have revenue interruption.
2. Offer letter review for TTET’s existing office : The most critical point is around the reinstatement clause 15 in the offer letter. We would like to ask to maintain the wording and right that TTET has in the current agreement to return the space in as-is condition. I’ve attached you here the offer letter in 2009. The request is to basically keep the whole wording for this renewal offer letter.
3. Smoking room : As our earlier discussion that in the L&S agreement, the wording about smoking room has been removed. TTET’s request is to put this clause back in as it is quite necessary to have smoking room for Japanese people / Japanese companies. If this is something to do with the Thailand’s law about smoking in the indoor area, then please discuss on how we would like to proceed about this.
4. Lease and Service agreement review and comment : TTET has sent their comment in .xls file attached. Could you please review and amend the agreement if possible krub.
5. Alignment of lease expiration and TTET’s fiscal year end (Extend of 3.5 months) : As you are aware when we discuss about this round renewal that TTET has an issue that their fiscal year and budgeting will be ended on Mar 31st of each year. So, in order to reduce the complication and to eliminate unpredictable rental forecast for the 3.5 months gap between lease expiry on 14th Dec 2018 and 31st Mar 2019. TTET requested if Mercury Tower can consider to give the holdover right (or short term renewal) for 3.5 months during that time with the same rental in Dec 2018. Then at the end of Mar 2019 TTET shall have the right to renew for normal 36 months lease term.
As the time will be an essence. Let’s focus on signing the offer letter first as I think it would be best if both the TTET and landlord can secure the renewal as current lease expiration is only on tomorrow.
I’ll be very happy to discuss over the phone about this.
Thank you krub.
I tried to contact your desk number but have no luck, so I send this e-mail to you instead krub. We can call to discuss on this later today. For easy tracking, I’ve summarized some few outstanding points which we have for TTET as below krub:1. Interests on 13th floor (Asia Web Direct’s space 531 sq.m.) : After site inspection done last 2 weeks, now TTET would like to have concrete direction from landlord so they can work around their approval. They are very keen to take the space and would like us to help to expedite this. Their target timeline is pretty close that they would like to finalize and sign the L&S agreement within January 2016, then get the space handed over in Feb 1, 2016. Lesae commence on March 1, 2016.Please help to expedite to provide your feedback whether this timeline is acceptable and also to give the rental for TTET. I would also like to take this opportunity to ask about the penalty you would like to charge Asia Web Direct for pre-mature termination. But, please consider minimum penalty as TTET will take the space right away and you won’t have revenue interruption. 2. Offer letter review for TTET’s existing office : The most critical point is around the reinstatement clause 15 in the offer letter. We would like to ask to maintain the wording and right that TTET has in the current agreement to return the space in as-is condition. I’ve attached you here the offer letter in 2009. The request is to basically keep the whole wording for this renewal offer letter.3. Smoking room : As our earlier discussion that in the L&S agreement, the wording about smoking room has been removed. TTET’s request is to put this clause back in as it is quite necessary to have smoking room for Japanese people / Japanese companies. If this is something to do with the Thailand’s law about smoking in the indoor area, then please discuss on how we would like to proceed about this. 4. Lease and Service agreement review and comment : TTET has sent their comment in .xls file attached. Could you please review and amend the agreement if possible krub. 5. Alignment of lease expiration and TTET’s fiscal year end (Extend of 3.5 months) : As you are aware when we discuss about this round renewal that TTET has an issue that their fiscal year and budgeting will be ended on Mar 31st of each year. So, in order to reduce the complication and to eliminate unpredictable rental forecast for the 3.5 months gap between lease expiry on 14th Dec 2018 and 31st Mar 2019. TTET requested if Mercury Tower can consider to give the holdover right (or short term renewal) for 3.5 months during that time with the same rental in Dec 2018. Then at the end of Mar 2019 TTET shall have the right to renew for normal 36 months lease term.As the time will be an essence. Let’s focus on signing the offer letter first as I think it would be best if both the TTET and landlord can secure the renewal as current lease expiration is only on tomorrow. I’ll be very happy to discuss over the phone about this.Thank you krub.
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