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FARMERS BRANCH, TX-The Dallas-based i2 Technologies Inc. will pay $14.4 million to its Portland, OR-based building owner to get out from under a lease through October 2011 at the 189,088-sf Two Colinas Crossing in the Dallas suburb of Farmers Branch.

The termination agreement is part of i2′s restructuring plan. The firm vacated the four-year-old building at 11511 Luna Rd. in January, setting off talks with building owner, Park West Fairview Associates of Portland, OR. The high-tech firm still occupies One Colinas Crossing at 11701 Luna Rd.

The tech firm, founded in 1998, would have paid $37.7 million over the lease term, but instead will be paying about $7.5 million in cash and issuing a $6.8-million, non-negotiable promissory note for the settlement. The note is to be paid by Dec. 15, 2006, and carries an annual interest rate of 5.25%, payable semi-annually in arrears, according to a company press release.

The software developer’s second-quarter transactions also included pre-paying a $60.9-million senior note issued by 12 in connection with the acquisition of Trade Service Corp. and EC-Content. The $59.2 payment satisfied the debt, officials said. The note, bearing a 7.5% annual interest rate, was set to mature Sept. 23. The settlement represents a discount of about 5.5% on principal and interest accrued to date, the company said.

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