EX-10.1
FOURTH AMENDMENT TO SUBLEASE
THIS FOURTH AMENDMENT TO SUBLEASE ("Fourth Amendment") is made as of August 15,
2006 by and between Sorrento Montana, L.P., a California Limited Partnership
("Landlord") and Integra LifeSciences Corporation, a Delaware Corporation
("Tenant"), with reference to the following facts and circumstances:
I. Landlord and Camino NeuroCare, Inc. entered into a Sublease dated
July 1, 2001 for approximately 16,205 square feet of premises
commonly known as Suites #706 through #714 and Suite #716, 0000
Xxxxxxx Xxxxxx Xxxxxxxxx, Xxx Xxxxx, Xxxxxxxxxx 00000
("Premises").
II. Landlord and Integra NeuroSciences CA Corporation ("Integra CA")
subsequently modified and amended the Sublease through First
Amendment to Sublease dated July 1, 2003, which in part extended
the term of the Sublease two additional years through June 30,
2005 and granted Tenant one Option to Renew the Sublease for an
additional two-year term through June 30, 2007.
III. Landlord and Integra CA again modified and amended the Sublease
through Second Amendment to Sublease dated June 1, 2004, which in
part added the approximately 1,180 square foot Suite #717 to
Tenant's Sublease effective June 1,2004.
IV. Landlord and Tenant further amended the Sublease through Third
Amendment to Sublease dated June 15, 2004, which (a) exercised
Tenant's Option To Renew the Sublease two additional years
through June 30, 2007, (b) granted Tenant one additional Option
To Renew the Sublease two Additional years through June 30, 2009,
and (c) Granted Tenant a one-time Right of First Refusal to add
Suites #701, #702 through #705 and #715 to Tenant's Sublease at
such time as they become available.
Landlord and Tenant desire to further modify, amend and supplement the Sublease
through this Fourth Amendment as follows:
a. Paragraph 1.4 ("PREMISES") is hereby amended to add the
approximately 4,956 square foot Suites #702 through #705 to
Tenant's Premises effective August 15, 2006. The
approximately 000 xxxxxx xxxx Xxxxx #000 and the
approximately 1,027 square foot Suite #715, both of which
are currently occupied, will be added to Tenant's Premises
the first day of the month following the vacating of the
respective spaces by their present occupants, which it is
anticipated will occur on or about October 1, 2006. Suites
#701, #702 through #705 and #715 will be added to Tenant's
Premises in an "as is" condition.
b. Tenant hereby exercises the Option to Renew granted in Third
Amendment to Sublease, and Paragraph 1.5 ("SUBLEASE TERM")
is therefore and hereby amended to extend the term of the
Sublease an additional twenty-four months through June 30,
2009. Tenant's Beginning Base Rent for the Option term
commencing July 1, 2007 shall be one hundred four percent
(104%) of the Base Rent payable by Tenant for the month of
June 2007.
c. Paragraph 1.9.1 ("BASE RENT") is hereby amended to provide
for payment of Base Rent by Tenant of Twenty-Four Thousand
Five Hundred Fifteen and 17/100 Dollars ($24,515.17) per
month effective August 1, 2006 with the addition of the
approximately 4,956 square foot Suites #702 through #705.
Tenants monthly Base Rent shall be further increased by (a)
Nine Hundred Thirty-Seven and 20/100 Dollars ($937.20) with
the addition of the approximately 000 xxxxxx xxxx Xxxxx #000
and (b) One Thousand Two Hundred
Thirty-Two and 40/100 Dollars ($1,232.40) with the addition
of the approximately 1,023 square foot Suite #715.
d. Paragraph 14.0 ("OPTION TO RENEW") is hereby amended to
provide Tenant with an Option to Renew ("Option") this
Sublease for one additional two-year term commencing July 1,
2009 and continuing for twenty-four consecutive months.
Provided Tenant is not in default of this Sublease or
Tenant's July 1, 2001 Sublease of 0000 Xxxxxxx Xxxxxx
Xxxxxxxxx as subsequently amended, Tenant shall exercise the
Option by notifying Landlord in writing on or before
December 31, 2008 of Tenant's intention to renew. Tenant's
Beginning Base Rent for the option term shall be the
then-prevailing market rate for comparable space in the
Sorrento Mesa and Sorrento Valley areas of San Diego.
Except as specifically provided in this Fourth Amendment, all of the terms,
conditions and definitions set forth in the Sublease shall remain unchanged and
in full force and effect. In the event of any conflict between this Fourth
Amendment and the Sublease, the terms of this Fourth Amendment shall prevail.
IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amendment To
Sublease effective the day and year first written above:
LANDLORD: TENANT:
SORRENTO MONTANA, L.P., INTEGRA LIFESCIENCES
CORPORATION,
a California Limited Partnership a Delaware Corporation
By: Sorrento Commercial Properties, Inc.,
a California Corporation doing business as By: Xxxxxx Xxxxxxx
Sorrento Management Company -------------------------------
Title: Senior VP Operations
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Date: 8/9/06
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By: /s/ Xxxxx X. Hillbrook
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Xxxxx X. Hillbrook
Vice President/Corporate Broker
Date: 8/11/06
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