Basic Lease Provisions Contract Clauses (60)

Basic Lease Provisions. For convenience of the parties, certain basic provisions of this Lease are set forth herein. The provisions set forth herein are subject to the remaining terms and conditions of this Lease and are to be interpreted in light of such remaining terms and conditions. 2.1. This Lease shall take effect upon the Execution Date and, except as specifically otherwise provided within this Lease, each of the provisions hereof shall be binding upon and inure to the benefit of Landlord and Tenant from the dat...e of execution and delivery hereof by all parties hereto. 2.2. In the definitions below, Rentable Area is expressed in square feet. Rentable Area and "Tenant's Pro Rata Shares" (i.e., Pro Rata Share of Building and Pro Rata Share of Laboratory Building) are all subject to adjustment as provided in this Lease. Definition or Provision Means the Following(As of the TermCommencement Date) Approximate Rentable Area of Premises 17,586 square feet Approximate Rentable Area of Building 202,023 square feet Tenant's Pro Rata Share of Building 8.70% Approximate Rentable Area of Laboratory Building 97,757 square feet Tenant's Pro Rata Share of Laboratory Building 17.99% 2.3. Monthly and annual installments of Base Rent for the Premises ("Base Rent") as of the Rent Commencement Date (as defined below in Section 7.1), subject to adjustment under this Lease: Dates SquareFeet ofRentableArea Base Rent perSquare Foot ofRentable Area MonthlyBase Rent Annual BaseRent Rent Commencement Date – First (1st) Anniversary of the Rent Commencement Date 17,586 $ 75.00 annually $ 109,912.50 $ 1,318,950 2 2.4. Estimated Term Commencement Date: December 16, 2016 2.5. Security Deposit: $450,000, subject to increase in accordance with the terms hereof. 2.6. Permitted Use: Office and laboratory use in conformity with all federal, state, municipal and local laws, codes, ordinances, rules and regulations of Governmental Authorities (as defined below), committees, associations, or other regulatory committees, agencies or governing bodies having jurisdiction over the Premises, the Building, the Property, the Project, Landlord or Tenant, including both statutory and common law and hazardous waste rules and regulations ("Applicable Laws"). For the avoidance of doubt, to the extent permitted by Applicable Laws, the use of a portion of the Premises as a vivarium is permitted under this Lease, subject to the terms and conditions set forth herein. 2.7. Address for Rent Payment: BMR-Hampshire LLC Attention Entity 325 P.O. Box 511415 Los Angeles, California 90051-7970 2.8. Address for Notices to Landlord: BMR-Hampshire LLC 17190 Bernardo Center Drive San Diego, California 92128 Attn: Real Estate Legal Department E-mail: 2.9. Address for Notices and Invoices to Tenant prior to the Rent Commencement Date: Oncorus, Inc. 450 Kendall Street, 4th Floor Cambridge, MA 02142 Attn: Stacy Gilroy E-mail: 2.10. Address for Notices and Invoices to Tenant from and after the Rent Commencement Date: Oncorus, Inc. 50 Hampshire Street Cambridge, MA 02142 Attn: Stacy Gilroy E-mail: 3 2.11. The following Exhibits are attached hereto and incorporated herein by reference: Exhibit A Premises and Rooftop Installation Area Exhibit B Work Letter Exhibit B-1 Tenant Work Insurance Schedule Exhibit B-2 Landlord's Work Exhibit C-1 Acknowledgement of Term Commencement Date Exhibit C-2 Acknowledgment of Rent Commencement Date and Term Expiration Date Exhibit D Plan of Lab and Office Zones Exhibit E Definition of Obsolete Equipment Exhibit F Form of Letter of Credit Exhibit G-1 Rules and Regulations Exhibit G-2 Contractor Rules and Regulations Exhibit H PTDM Exhibit I Tenant's Personal Property Exhibit J Maintenance Matrix Exhibit K Form of Estoppel Certificate 3. Term. The actual term of this Lease (as the same may be extended pursuant to Article 42 hereof, and as the same may be earlier terminated in accordance with this Lease, the "Term") shall commence on the Term Commencement Date (as defined in Article 4) and end on the date (the "Term Expiration Date") that is eighty-four (84) months after the Rent Commencement Date, subject to extension or earlier termination of this Lease as provided herein. View More

Basic Lease Provisions. For convenience of the parties, certain basic provisions of this Lease are set forth herein. The provisions set forth herein are subject to the remaining terms and conditions of this Lease and are to be interpreted in light of such remaining terms and conditions. 2.1. The monthly Base Rent for the first twelve (12) months of the Term of the Lease shall be equal to Three Hundred Two Thousand Eighty-Three and 33/100 Dollars ($302,083.33) subject to subsequent adjustments under this Lease. 2 2.2. "...Security Deposit": Six Hundred Four Thousand One Hundred Sixty-Six and 66/100 ($604,166.66) Dollars. 2.3. "Permitted Use": Agricultural growth, propagation and processing of agricultural materials (including cannabis), industrial and office space, in accordance with current zoning for the Premises and in conformity with all Applicable Laws (as defined below). Permitted Use shall include the cultivation, propagation and processing of cannabis plant parts and resins into products, the storage of same for transport, and such other related use or uses permitted under Applicable Laws. As used herein, the term "License" shall mean and refer to that certain license issued by the applicable governmental agency with jurisdiction over the Permitted Use under which Tenant is authorized to engage in the agricultural growth, propagation and processing of cannabis. 2.4. Address for Rent Payment: IIP-IL 3 LLC ___________________ ___________________ ___________________ 2.5. Address for Notices to Landlord: IIP-IL 3 LLC 11440 West Bernardo Court, Suite 220 San Diego, California 92127 Attn: General Counsel 2.6. Address for Notices and Invoices to Tenant: PharmaCann LLC 190 South LaSalle Street, Suite 2950 Chicago, IL 60603 Attn: Accounts Payable 2.7. The following Exhibits are attached hereto and incorporated herein by reference: Exhibit A Property Exhibit B Tenant's Personal Property Exhibit C Form of Estoppel Certificate Exhibit D Form of Guaranty Exhibit E-1 Tenant Work Insurance Requirements 2.8. As used herein, "Prior Course of Dealing" shall mean the prior practice or course of dealing on the projects undertaken by and between affiliates of Landlord and Tenant which are located at 465 Hopping Brook Road, Holliston, Massachusetts; 10767 Mill Dam Road, Buckeye Lake Village, Ohio; and Lot No. 4, Scott Technology Park, Scott Township, Pennsylvania. View More