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Landlord sues Twitter, saying $3.16 million owed in rent for San Francisco headquarters

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Twitter Inc. is being sued by the landlord of its San Francisco headquarters, which accuses Elon Musk’s social-media company of not paying nearly $7 million in rent in December and January.

In a lawsuit filed Friday in California Superior Court in San Francisco, SRI Nine Market Square LLC said Twitter breached the terms of its lease in December by not making its monthly rent payment of nearly $3.4 million, for which it filed a notice of default on Dec. 5, 2022. According to the suit, the landlord recouped that amount from a line of credit Twitter had as a security deposit.

However, Twitter “again breached the lease by failing to pay monthly rent and additional rent due under the lease for the month of January 2023 in the sum of $3,427,722.14,” the suit said. After SRI Nine Market Square took another $266,000 from the line of credit — which is now apparently depleted — Twitter currently owes $3.16 million in rent, according to the suit.

SRI Nine Market Square said in the filing that it is seeking to raise Twitter’s line of credit to $10 million, based on language in the lease that triggers such a move if control of Twitter changed (Musk bought the company in late October), and claimed Twitter is refusing to do so.

The lawsuit was first reported by the San Francisco Chronicle.

Twitter, which dissolved its media relations team after Musk took over, did not respond to MarketWatch’s request for comment.

In December, the New York Times reported Twitter had stopped paying rent on its various offices as way to cut costs under Musk. The landlord of another one of Twitter’s offices in San Francisco sued for non-payment of rent in early January.

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Jacob Keiter is a husband, a writer, a journalist, a musician, and a business owner. His journey to becoming a writer was one that was paved with challenges, but ultimately led him to find his true calling. Jacob's early years were marked by a strong desire for creative expression. He was always drawn to music, and in his youth, he played in several bands, chasing the elusive promise of fame and success. However, despite his best efforts, Jacob struggled to find the recognition he craved. It wasn't until he hit a low point in his life that Jacob discovered his love for writing. He turned to writing as a form of therapy during a particularly difficult time, and found that it not only helped him to cope with his struggles, but also allowed him to express himself in a way that he had never been able to before. Jacob's writing skills quickly caught the attention of others, and he soon found himself working as a journalist for The Sun out of Hummelstown. From there, he went on to contribute to a variety of publications, including the American Bee Journal and Referee Magazine. Jacob's writing style is reflective of traditional journalism, but he also infuses his work with a unique voice that sets him apart from others in his field. Despite his success as a writer, Jacob also owns another business, JJ Auto & Home, which specializes in cleaning. Jacob's commitment to excellence is evident in all of his endeavors, whether it be in his writing or in his business ventures. Today, Jacob is the author of two books and continues to inspire others through his writing. His journey to becoming a writer serves as a reminder that sometimes our darkest moments can lead us to our greatest achievements.

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