Office Leases
−Removed: Our primary lease commitments relate to our corporate headquarters.
−Removed: In April 2021, we relocated our corporate headquarters, terminating our prior lease on April 30, 2021.
−Removed: For the year ended December 31, 2021, we recorded an expense of approximately $4.0 million in connection with these two leases.
−Removed: In addition, we have a lease through February 2025 for our Lima One offices located in Greenville, South Carolina.
−Removed: At December 31, 2021, we expect our future rent expense, exclusive of possible rent escalation charges and normal recurring charges for maintenance, insurance and taxes, to be approximately $5.0 million per year.
+Added: Our primary lease commitment relates to our corporate headquarters.
+Added: For the year ended December 31, 2022, we recorded an expense of approximately $5.0 million in connection with this lease.
+Added: The original term specified in this lease is approximately 15 years with a termination date of December 2036, and an option to renew for an additional five years.
+Added: At December 31, 2022, we expect our future rent expense, exclusive of possible rent escalation charges and normal recurring charges for maintenance, insurance and taxes, to range between approximately $5.0 million and $6.0 million per year.
Legal Proceedings.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.