KINEX Medical Technology Research Sample Clauses

KINEX Medical Technology Research. Innovation Center and North American Headquarters (a) Following the Headquarters Build Out Completion, KINEX shall locate its North American Headquarters and Medical Technology Research & Innovation Center within the Buffalo Medical Innovation and Commercialization Hub at the Corporate Headquarters and Innovation Center. KINEX shall lease from FSMC the Corporate Headquarters and Innovation Center in accordance with the terms of a separate written lease agreement between KINEX and FSMC consistent with the terms of this Agreement for the purpose of housing KINEX’s Medical Technology Research & Innovation Center and North American Headquarters for a ten (10) year term, with the option to extend the term of the lease for a second ten (10) year term, at a lease rent rate equal to 35% of FSMC’s external lease rent costs for the Corporate Headquarters and Innovation Center for years 1 through 3 and thereafter at a lease rental rate equal to 100% of FSMC external lease rent costs for the Corporate Headquarters and Innovation Center. The lease term will commence on August 1, 2015. If fit-up for the Corporate Headquarters and Innovation Center is not completed by August 1, 2015, then KINEX will be allowed to begin moving into the Corporate Headquarters an Innovation Center while fit-up is being finalized. Subject to the terms of the separate written lease agreement, once Headquarters Build Out Completion has been achieved, KINEX shall pay all other FSMC external lease costs associated with FSMC’s lease of the Corporate Headquarters and Innovation Center, including, without limitation, maintenance and operating expenses, utilities, municipal charges, and real estate taxes assessed against the Corporate Headquarters and Innovation Center and the property on which the Corporate Headquarters and Innovation Center is situated or the amount(s) required to be paid pursuant to a payment in lieu of taxes or other agreement with a governmental entity, whether by contribution or otherwise. (b) As used in this Agreement, “Headquarters Build Out Completion” means that the Corporate Headquarters and Innovation Center and all related infrastructure have been renovated and prepared in accordance with the agreed-on plans, specifications and requirements, and the premises are suitable for occupation by KINEX.
Sample 1
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Related to KINEX Medical Technology Research

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