News Column

SCIQUEST INC FILES (8-K) Disclosing Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits

August 1, 2014



Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an

Off-Balance Sheet Arrangement of a Registrant



On July 29, 2014, SciQuest, Inc. (the "Company") entered into that certain Assignment and Assumption of Lease (the "Assignment") with TrialCard Incorporated ("TrialCard"), pursuant to which the Company assigned, and TrialCard assumed, all of the Company's right, title and interest in that certain Office Lease, dated May 17, 2005, by and between the Company and Duke Realty Limited Partnership (the "Lease"). Pursuant to the Assignment, the Company will pay TrialCard an amount equal to $20,098 as an estimate of "Additional Rental Adjustments Payments" that are expected to be payable under the Lease, which amount will be subject to adjustment based on the actual amounts of Additional Rental Adjustments Payments that become due under the Lease.

In connection with the Assignment, the Lease was amended pursuant to that certain Seventh Amendment to Office Lease by and between the Company and ERGS II REO Owner, LLC (the "Landlord"), the successor-in-interest to Duke Realty Limited Partnership (the "Seventh Amendment"). The Seventh Amendment, as a condition to the Landlord's consent to the Assignment, requires the Company to make a lump sum payment to Landlord in the amount of $685,434 as a partial prepayment of certain rental payments owing under the Lease for future lease periods.

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Assignment and Assumption of Lease, dated July 29, 2014, by and between SciQuest, Inc. and TrialCard Incorporated 10.2 Seventh Amendment to Lease, dated July 29, 2014, by and between SciQuest, Inc. and ERGS II REO Owner, LLC 10.3 Landlord Consent, dated July 29, 2014, by and between SciQuest, Inc., ERGS II REO Owner, LLC and TrialCard Incorporated _________________



Schedules and exhibits have been omitted pursuant to Item 601(b)(2) of

Regulation S-K. The Company hereby undertakes to furnish supplementally copies of any of the omitted schedules and exhibits upon request by the Securities and Exchange Commission.



--------------------------------------------------------------------------------


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Edgar Glimpses


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters