![]() During the Term, LESSEE covenants and agrees to pay LESSOR, as annual rent for the Premises, the aggregate amount of $912,000, which shall be paid monthly ( i.e., $76,000) on the 1 st day of each month during the Term at the LESSOR’s address for notice hereunder or otherwise as LESSOR may designate (the “Rent”).ĥ.1 Services and Utilities. Shall not limit LESSOR’s right to seek such other remedy as may be available to it at law or equity.Ĥ.1 Rent. Possession of the Premises or any part thereof after the termination of this Lease or expiration of the Term, LESSEE shall pay to LESSOR a monthly Rent equal to 2.00 times the monthly Rent in effect as of the last month of the Term. January 1, 2009 upon its delivery of twelve (12) months written notice to LESSOR. Notwithstanding Section 3.1, this Lease may be terminated by LESSEE from and after The term of this Lease shall commence on the Effective Date (the “Commencement Date”) and end on December 31, 2010 (the “Term”), unless earlier terminated in accordance with the provisions of thisģ.2 Early Termination. LESSEE has inspected the Premises and accepts the same “As Is.” The LESSEE Premises consists of approximatelyĤ8,000 square feet of research and development space and shall include the right to use and obligation to share (as applicable) any common areas.ģ.1 Term. Hereinafter referred to as the “LESSEE Premises,” and LESSEE leases, hires and takes from LESSOR the LESSEE Premises. ![]() ![]() LESSOR hereby leases to LESSEE the LESSEE’s share of the Premises, NOW, THEREFORE, in consideration of the mutual promises and premises hereinafter contained, it is hereby mutually agreed as follows:ġ.1 All capitalized terms used in this Lease and not defined herein shall have the meaning ascribed to such terms in the Separation Agreement.Ģ.1 Lease. WHEREAS, LESSOR desires to lease to LESSEE, and LESSEE desires to lease from LESSOR, (i) the Property, (ii) all improvements at any timeĮxisting thereon and (iii) all fixtures, equipment, furniture and machinery, excluding, for all purposes, the Machinery and Equipment of LESSOR (collectively, the “Premises”). LESSOR owns the Property and this Lease, LESSEE is, and remains, the owner of the Contributed Machinery and Equipment (as defined in the Separation Agreement) of LESSEE and Separation Agreement) of LESSOR) thereon attached hereto and made a part hereof (the “Property”) WHEREAS, the LESSOR is the owner of that certain improved real property located at and commonly known as the Cornell research andĭevelopment facility more particularly described in Exhibit A (together with all buildings, structures, fixtures and improvements and betterments thereon and appurtenances thereto other than the Machinery and Equipment (as defined in the ![]() WHEREAS, simultaneously herewith, New Abraxis, Inc., to be renamed Abraxis BioScience, Inc., parent company of LESSOR, and LESSEE are entering into a Manufacturing Agreement (the “Manufacturing Agreement”) (and their respective parent companies) have entered into a Separation and Distribution Agreement dated as of the Effective Date (the “Separation Agreement”) THIS LEASE AGREEMENT (this “Lease”), dated effective the day of ,Ģ007 (the “Effective Date”), is made by and between Abraxis BioScience, LLC, a Delaware limited liability company (“LESSOR”), and APP Pharmaceuticals, LLC, a Delaware limited liability company (“LESSEE”).
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