EACO CORPORATION (OTCMKTS:EACO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
Bisco Industries, Inc. (“Bisco”), a wholly-owned subsidiary of EACO Corporation (”EACO”), entered into a Commercial Lease Agreement (the “Lease”) on July 26, 2019 with the Glen F. Ceiley and Barbara A. Ceiley Revocable Trust (the “Landlord”), to which Bisco will lease approximately 80,000 square feet of office and warehouse space located at 5037/5065 E. Hunter Avenue, in Anaheim California (the “Premises”). The term of the Lease commences on September 2, 2019 and ends ten years later on August 31, 2029 (the “Term”). Bisco and EACO are sometimes collectively referred to herein as the “Company.” The Company intends to use the Premises for its corporate headquarters.
to the Lease, Bisco will pay Base Rent of $66,300 per month for the Premises, which Based Rent will increase by 2.5% annually over the Term of the Lease as follows:
| 10.1 | Commercial Lease Agreement dated July 26, 2019 between Bisco and the Landlord. |
EACO CORP Exhibit
EX-10.1 2 tv526542_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 COMMERCIAL LEASE AGREEMENT THIS LEASE (this "Lease") dated this 26th day of July,…
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About EACO CORPORATION (OTCMKTS:EACO)
EACO Corporation (EACO) is a holding company. The Company, through its subsidiary, Bisco Industries, Inc. (Bisco), is engaged in the distribution of electronic components and fasteners. The divisions of the Company include Bisco industries, National-Precision and Fast-Cor. Bisco supplies parts used in the manufacture of products in a range of industries, including the aerospace, circuit board, communication, computer, fabrication, instrumentation, industrial equipment and marine industries. The Company operates in the United States and Canada. The National-Precision division sells electronic hardware and commercial fasteners to OEMs in the aerospace, fabrication and industrial equipment industries. National-Precision is the distributor of mil-spec and commercial fasteners, hardware and distribution services used in production. The Fast-Cor has access to the entire inventory of products that Bisco offers but focuses on selling to other distributors.