Sixth Amendment to Facilities Lease between Cedars-Sinai Medical Center and Capricor, Inc.
Cedars-Sinai Medical Center and Capricor, Inc. have agreed to extend their existing facilities lease for the Davis Building. This amendment grants Capricor, Inc. the option to extend the lease for an additional 24 months, through July 31, 2024, provided they are not in default. If the option is exercised, the monthly rent will be $10,706.50 for the extended term. All other terms of the original lease remain unchanged and are reaffirmed by both parties.
Exhibit 10.36
SIXTH AMENDMENT
TO FACILITIES
LEASE
This Sixth Amendment to Facilities Lease (“Fourth Amendment”) is effective as of July 31, 2022 and is made by and between CEDARS-SINAI MEDICAL CENTER, a California nonprofit public benefit corporation (“Landlord”) and CAPRICOR, INC., a Delaware corporation (“Tenant”), with reference to the facts and circumstances set forth below.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree to amend the Lease in the following manner:
1. | TERM. Article III of the Lease is hereby modified to include the following: |
2. | RENT. |
In the event the option described in Section 1(a) is exercised by Tenant, the following shall apply for such extended Term:
(a) | Article IV of the Lease will be modified to include the following: |
“Commencing August 1, 2022 and continuing through the end of the Term of the Lease, the Tenant’s Total Monthly Payment shall be $10,706.50”.
3. | REAFFIRMATION. As modified hereby, the Lease is reaffirmed and ratified by the parties in its entirety. |
IN WITNESS WHEREOF, the parties have executed this Fourth Amendment as of the date set forth above.
Cedars-Sinai Medical Center | | Capricor, Inc. | |||
By: | /s/ Nicole A. Leonard, JD, MBA | | By: | /s/ AJ Bergmann | |
Name: | Nicole A. Leonard, JD, MBA | | Name: | AJ Bergmann | |
Title: | Vice President, Research | | Title: | Chief Financial Officer |