COMMERCIAL LEASE
EXHIBIT
10.1
COMMERCIAL
LEASE
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1.
PARTIES
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Lahinch
Limited Partnership, a Massachusetts limited partnership with an
address
of 00 Xxxxx Xxxxx Xxxxx Xxxxx 000, Xxxxxxx, XX 00000 (“Landlord”),
does hereby lease to Lightspace
Corporation
a
Delaware corporation with a place of business at 000 Xxxxxxxxxx
Xxxxxx, Xxxxx 000, Xxxxxx, XX 00000 (“Tenant”),
the Premises (as defined below).
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2.
PREMISES
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A
portion of the building consisting of 9,716 non-contiguous rentable
square
feet located
at 000 Xxxxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000, consisting
of a
portion of the building consisting of 3,327 rentable square
feet located
at 000 Xxxxxxxxxx Xxxxxx, Xxxxx 000 (“Suite 220”), Xxxxxx, Xxxxxxxxxxxxx
00000, as shown on Exhibit
A1, and
a portion of the building consisting of 6,389 rentable square
feet located
at 000 Xxxxxxxxxx Xxxxxx, Xxxxx 000 (“Suite 130”), Xxxxxx, Xxxxxxxxxxxxx
00000, as shown on Exhibit
A2(collectively,
the “Premises”), and together with the right to use in common, with others
entitled thereto, the hallways, stairways and elevators, necessary
for
access to said leased premises, and lavatories nearest thereto, if
any
(the “Premises”).
Except as set forth herein, the Premises are to be delivered in “as-is”
condition as they are in on the date of this Lease.
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The
buildings and improvements now or hereafter located or used in connection
with the Property, including the Building, currently consisting of
approximately 144,888 rentable square feet is referred to as the
“Project”.
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3.
TERM
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The
term of this Lease shall be for 60 months and is projected to commence
on
July 1, 2008, or issuance of Certificate of Occupancy (CO) or Temporary
Certificate of Occupancy (TCO) by the City of Boston, (the “Term
Commencement Date”)
and terminating on June 30, 2013, (the “Term
Expiration Date”).
The Actual term Commencement Date and Term Expiration Date shall
be
memorialized in an amendment upon issuance of CO or TCO.
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4.
RENT
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Suite
220
Office Space
Tenant
shall pay, without any offset or reduction, rent to Landlord at the
rate
of $42,419.25 per year NNN ($12.75 per rentable square foot NNN),
for
months one (1) through twelve (12), payable in advance on the first
day of
each month in installments of $3,534.94 each NNN. Tenant shall pay
the
first month’s rent upon execution of this Lease.
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Tenant
shall pay, without any offset or reduction, rent to Landlord at the
rate
of $43,251.00 per year NNN ($13.00 per rentable square foot NNN),
for
months thirteen (13) through twenty four (24), payable in advance
on the
first day of each month in installments of $3,604.25 each NNN.
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Tenant
shall pay, without any offset or reduction, rent to Landlord at the
rate
of $44,082.75 per year NNN ($13.25 per rentable square foot NNN),
for
months twenty five (25) through thirty six (36), payable in advance
on the
first day of each month in installments of $3,673.56 each NNN.
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Tenant
shall pay, without any offset or reduction, rent to Landlord at the
rate
of $44,082.75 per year NNN ($13.25 per rentable square foot NNN),
for
months thirty seven (37) through forty eight (48), payable in advance
on
the first day of each month in installments of $3,673.56 each
NNN.
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Tenant
shall pay, without any offset or reduction, rent to Landlord at the
rate
of $44,914.50 per year NNN ($13.50 per rentable square foot NNN),
for
months forty nine (49) through sixty (60), payable in advance on
the first
day of each month in installments of $3,742.88 each NNN.
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Tenant
shall pay the first month’s rent upon execution of this Lease. All
payments hereunder (including rent and additional rent) shall be
due and
payable on or before the first day of each calendar month. There
will be a
late charge for payments made after the first (1st)
of the month, which charge shall be the lesser of eighteen percent
(18%)
per month or the maximum amount permitted by law. Failure to pay
the late
charge is a default under the terms of the Lease. Tenant acknowledges
and
waives any/all rights to offset or reduce payments due under this
Lease.
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Suite
130
Warehouse Space
Tenant
shall pay, without any offset or reduction, rent to Landlord at the
rate
of $55,903.75 per year NNN ($8.75 per rentable square foot NNN),
for
months one (1) through twelve (12), payable in advance on the first
day of
each month in installments of $4,658.65 each NNN. Tenant shall pay
the
first month’s rent upon execution of this Lease.
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Tenant
shall pay, without any offset or reduction, rent to Landlord at the
rate
of $57,501.00 per year NNN ($9.00 per rentable square foot NNN),
for
months thirteen (13) through twenty four (24), payable in advance
on the
first day of each month in installments of $4,791.75 each NNN.
Tenant
shall pay, without any offset or reduction, rent to Landlord at the
rate
of $59,098.25 per year NNN ($9.25 per rentable square foot NNN),
for
months twenty five (25) through thirty six (36), payable in advance
on the
first day of each month in installments of $4,924.85 each NNN.
Tenant
shall pay, without any offset or reduction, rent to Landlord at the
rate
of $59,098.25 per year NNN ($9.25 per rentable square foot NNN),
for
months thirty seven (37) through forty eight (48), payable in advance
on
the first day of each month in installments of $4,924.85 each NNN.
Tenant
shall pay, without any offset or reduction, rent to Landlord at the
rate
of $60,695.50 per year NNN ($9.50 per rentable square foot NNN),
for
months forty nine (49) through sixty (60), payable in advance on
the first
day of each month in installments of $5,057.96 each NNN.
Tenant
shall pay the first month’s rent upon execution of this Lease. All
payments hereunder (including rent and additional rent) shall be
due and
payable on or before the first day of each calendar month. There
will be a
late charge for payments made after the first (1st)
of the month, which charge shall be the lesser of eighteen percent
(18%)
per month or the maximum amount permitted by law. Failure to pay
the late
charge is a default under the terms of the Lease. Tenant acknowledges
and
waives any/all rights to offset or reduce payments due under this
Lease.
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5.
SECURITY DEPOSIT
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A
Security Deposit in the amount of $17,601.68 shall be paid to Landlord
by
Tenant upon execution of this Lease, which shall be held as security
for
Tenant’s performance of any and all of its obligations hereunder. Landlord
may adjust the Security Deposit from time to time after reviewing
Tenant’s
financial statements, which Tenant shall provide to Landlord upon
request.
Upon the occurrence of a default under this Lease by Tenant, Landlord
may,
in its sole discretion, apply the Security Deposit to cure such default
and Tenant shall restore the Security Deposit to the sum of $17,601.68(or
such adjusted amount). Upon a transfer of the Property, Tenant agrees
to
look solely to such transferee for the return of the Security Deposit.
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6.
TAXES AND OPERATING EXPENSES
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Tenant
shall pay to Landlord in advance on the first day of each month,
commencing on the Term Commencement Date, as additional rent, the
Tenant’s
Share (as defined below) of (i) the Taxes (as defined below) and
(ii)
Operating Expenses (as defined below).
“Taxes”
shall mean all real estate taxes, personal property taxes, assessments,
water and sewer charges and all municipal, state and federal charges
levied or assessed or imposed on the Project.
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“Operating
Expenses”
shall mean all expenses, costs and disbursements of every kind and
nature
which Landlord shall pay or become obligated to pay in connection
with the
Project, including without limitation, (i) insurance premiums paid in
connection with the Project; (ii) all utility charges for the Project
not
directly billed to the Tenant or other Tenants; (iii) compensation
and
benefits for Landlord’s employees and agents, engaged in the operation and
maintenance of the Project; (iv) worker’s compensation costs and payroll
taxes for said employees and agents to be prorated when employee
is not
full time at the Project; (v) payments to independent contractors
for
maintenance, repairs, cleaning, management, legal, accounting and
maintenance of the Project including utility systems; and (vi) generally
all reasonable expenses incurred by Landlord in connection with its
operation of the Project.
“Tenant’s
Share”
shall mean 6.71%. Landlord may, from time to time, in Landlord’s sole
discretion, adjust Tenant’s Share to reflect the ratio of the actual
rentable square feet of the Premises to the actual rentable square
feet of
the Project.
THIS
LEASE IS A TRIPLE NET LEASE AND LANDLORD SHALL NOT BE OBLIGATED TO
PAY ANY
CHARGE OR BEAR ANY EXPENSE WHATSOEVER AGAINST OR WITH RESPECT TO
THE
PREMISES EXCEPT TO THE EXTENT SPECIFICALLY SET FORTH HEREIN NOR SHALL
RENT, ADDITIONAL RENT AND ANY OTHER CHARGES PAYABLE HEREUNDER BE
SUBJECT
TO ANY REDUCTION OR OFFSET WHATSOEVER ON ACCOUNT OF SUCH CHARGE.
IN ORDER
THAT THE RENT SHALL BE ABSOLUTELY NET TO LANDLORD, TENANT COVENANTS
AND
AGREES TO PAY AS ADDITIONAL RENT TAXES, BETTERMENT ASSESSMENTS, INSURANCE
COSTS, OPERATING EXPENSES AND UTILITY CHARGES WITH RESPECT TO THE
PREMISES
AS PROVIDED HEREIN.
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7.
UTILITIES
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The
Tenant shall pay all bills for utilities furnished to the Premises,
including, without limitation, electricity, gas, water, sewer, telephone
and other services and including heat and air conditioning. Landlord
shall
not be liable for any interruption in utilities or services serving
the
Premises.
Landlord
intends to separately meter this suite for utilities. If Landlord
elects
not to submeter or check meter the Premises, Tenant will be billed
monthly
for its energy use at a rate of $2.00 per square foot per year (the
“Utility Charge”) for electric and gas to be paid as additional rent.
Landlord shall have the right to adjust the Utility Charge from time
to
time in its sole discretion.
Landlord
shall have no obligation to provide utilities or equipment other
than the
utilities and equipment within the Premises as of the Term Commencement
Date. In the event Tenant requires additional utilities or equipment,
the
installation and maintenance thereof shall be the Tenant’s sole
obligation, provided that such installation shall be subject to the
prior
written consent of the Landlord. Landlord shall have the right to
enter a
Tenant’s suite at any time without notice in order to install electric
meters.
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If
this suite contains a server room or lab room with an existing
supplemental air conditioning unit, Tenant shall be responsible for
maintenance such existing supplementary air conditioning unit. If
any
server room or lab room should need a supplementary air conditioning
unit
and Tenant desires to have such a unit installed, Tenant shall use
Landlord’s designated HVAC contractor. Tenant shall be responsible for
maintenance of said supplementary air conditioning unit. At the
termination of this lease or amendment the supplementary air conditioning
unit shall remain with the demised premises and will become the property
of the Landlord.
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8.
USES OF LEASED PREMISES
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Tenant
shall use Suite 220 only for general office and its associated uses
provided that such use must comply with all applicable zoning regulations
and all other applicable Federal, State and Municipal laws and Landlord’s
rules and regulations, adopted from time to time.
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Tenant
shall use Suite 130 only for general warehouse and its associated
uses
provided that such use must comply with all applicable zoning regulations
and all other applicable Federal, State and Municipal laws and Landlord’s
rules and regulations, adopted from time to time.
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9.
COMPLIANCE WITH LAWS
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Tenant
acknowledges that no trade or occupation shall be conducted in the
Premises or use made thereof which will be unlawful, improper,
unreasonably noisy or offensive, or contrary to any law or any municipal
by-law or ordinance in force in the city or town in which the premises
are
situated. Said non-compliance shall be considered a breach of this
Lease.
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10.
FIRE INSURANCE
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Tenant
shall not permit any use of the Premises which will make void any
insurance on the Project or on the contents of the Project or which
shall
be contrary to any law or regulation from time to time established
by the
New England Fire Insurance Rating Association, or any similar body
succeeding to its powers. Tenant shall on demand reimburse Landlord,
and
all other tenants, for all extra insurance premiums resulting from
Tenant’s use of the Premises.
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11.
MAINTENANCE
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A.
TENANT’S
OBLIGATION
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Tenant
agrees to maintain the Premises in good condition, damage by fire
and
other casualty excepted, and whenever necessary, to replace plate
glass,
acknowledging that the Premises are now in good order and the glass
whole.
Tenant shall not permit the Premises to be overloaded, damaged, stripped
or defaced, nor suffer any waste. Tenant shall not install any signs
at
the Premises.
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B.
LANDLORD’S
OBLIGATION
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Landlord
agrees to maintain the structure of the Building in the same condition
as
it is at the Term Commencement Date or as it may be put in during
the Term
of and pursuant to the terms of this Lease, reasonable wear and tear,
damage by fire or other casualty and damage caused by Tenant or by
such
party for whose conduct the Tenant is legally responsible, and is
excepted. Tenant acknowledges that the building is old and has been
recently restored. As such the structure may contain certain deficiencies
that could lead to leaks and other such nuisances due to wind, driving
rain and other weather related items. Tenant acknowledges that with
reasonable notice the Landlord will respond and make efforts to repair
such problems. Tenant also acknowledges they may not use any such
problems, should they arise, as an excuse to break the
lease.
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12.
ALTERATIONS & ADDITIONS AND LANDLORD’S WORK
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Tenant
shall not make alterations, installations or additions to the Premises
without Landlord’s prior written consent which consent may be withheld by
Landlord in its sole discretion and must be performed by Landlord
or its
agents. All such allowed alterations shall be at Tenant’s sole cost and
expense and shall be in quality at least equal or better than the
present
construction. Tenant shall not permit any mechanics’ liens, or similar
liens, to remain upon the Premises for labor and material furnished
to
Tenant or claimed to have been furnished to Tenant in connection
with work
of any character performed or claimed to have been performed at the
direction of Tenant and shall cause any such lien to be released
of record
forthwith without cost to Landlord. Any alterations, installations
or
additions made to the Premises shall become the property of the Landlord
at the termination of occupancy as provided herein, unless Landlord
shall
require the removal of such alterations, installations or additions.
If
Landlord shall require the removal of any alterations or additions,
Tenant
shall restore the Premises to its original condition at Tenant’s expense.
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Landlord
shall be responsible, at its sole cost and expense, to complete the
work
set forth on EXHIBIT A1 and A2 and EXHIBIT E and to obtain a CO or
TCO by
or before July 1, 2008.
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13.
ASSIGNMENT & SUBLETTING
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Tenant
shall not assign or sublet the whole or any part of the Premises
without
Landlord’s prior written consent, which may be withheld or delayed by
Landlord in its sole discretion. Notwithstanding such consent, Tenant
shall remain liable to Landlord for the payment of all rent and for
the
full performance of the covenants and conditions of this Lease. For
the
purposes of this Lease, any transfer of an interest in Tenant shall
be
deemed an assignment of this Lease. If Tenant requests Landlord’s consent
to assign this Lease or sublet all or any portion of the Premises,
Landlord shall have the option, exercisable by written notice to
Tenant
given within ten (10) days after receipt of such request, to terminate
this Lease as of the date specified in such notice. If landlord approves
a
sublease and said sublease is for a total rental amount which on
an annual
basis is greater than the Fixed Rent and Additional Rent due from
the
Tenant to the Landlord under this lease, Tenant shall pay to the
Landlord,
forthwith upon Tenants’ receipt of each installment of such excess Fixed
Rent and Additional Rent, during the term of any approved sublease,
as
Additional Rent hereunder, in addition to the Fixed Rent and Additional
Rent and other payments due under this Lease, an amount equal to
one
hundred percent (100%) of the positive excess between all Fixed Rent
and
Additional rent received by Tenant, less reasonable transaction costs,
which shall include legal fees and brokerage commissions, under the
sublease and the aggregate of Fixed Rent and Additional Rent due
hereunder.
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14.
SUBORDINATION
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This
Lease shall be subject and subordinate to any and all mortgages,
deeds of
trust and other instruments in the nature of a mortgage, now existing
or
at any time hereafter arising, a lien or liens on the property of
which
the leased premises are a part. Tenant shall, when requested, promptly
execute and deliver such written instruments in the lender’s form as shall
be necessary to show the subordination of this Lease to said mortgages,
deeds of trust or other such instruments in the nature of a mortgage.
Tenant’s failure to execute and return documents to Landlord within
forty-eight (48) hours of receipt by Tenant or Tenant’s agent shall be
deemed a breach of this Lease.
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15.
LANDLORD’S ACCESS
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Landlord
or agents of Landlord may show the Premises to others with out advance
notice, and at any time before the expiration of the Term for the
purpose
related to the sale, lease or refinancing of the Premises, excluding
emergencies in which case Landlord may enter the Premises without
any
notice. Landlord may remove placards and signs not approved and affixed
as
herein provided, and make repairs, installations and
alterations.
Landlord
may show the Premises to prospective Tenants during the Term. Tenant
shall
provide Landlord or its agents alarm codes and keys. Tenant’s refusal to
provide Landlord or its agent’s access as stated above shall be deemed a
breach of this Lease.
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16.
INDEMNIFICA-TION AND LIABILITY
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A. Tenant
agrees to defend (with counsel selected by Landlord), indemnify and
save
harmless the Landlord, the Landlord’s managing agent and any holder of a
mortgage on all or any portion of the Premises from (i) any act,
omission or negligence of the Tenant, or the Tenant’s contractors,
licensees, agents, servants, or employees, or arising from any accident,
injury, or damage whatsoever caused to any person, or to the property
of
any person, or (ii) any violation of applicable law including,
without limitation, any law, regulation or ordinance concerning trash,
hazardous materials, or other pollutant occurring from and after
the date
that possession of the Premises is delivered to the Tenant and until
the
end of the Term hereof in or about the Premises, or (iii) any
accident, injury or damage occurring outside the Premises, where
such
accident, damage or violation of applicable law results in injury
from act
or omission on the part of the Tenant or the Tenant’s agents or employees.
This indemnity and hold harmless agreement shall survive termination
of
this Lease and include indemnity against all costs, expenses and
liabilities incurred in or in connection with any such claim or proceeding
brought thereon, and the defense thereof. Landlord agrees to pursue
all of
its rights under Tenant’s insurance policy before seeking indemnification
from Tenant, provided that Tenant’s policy is on an occurrence basis
policy with limits as required by Section 17. Landlord agrees that
Tenant’s indemnity shall only apply to the extent Landlord does not
recover such costs, expenses and liabilities under any such policy.
Tenant
agrees that Tenant’s insurance shall be the primary insurance policy and
that said policy shall be exhausted in its totality before Landlord
seeks
its own rights to recover under any additional policy.
B.
Tenant
agrees that Landlord shall not be responsible or liable to Tenant,
or to
those claiming by, through or under Tenant, for any loss or damage
that
may be occasioned by or through the acts or omissions of persons
occupying
any adjoining space or any part of the Building, or for any loss
or damage
resulting to Tenant or to those claiming by, through or under Tenant,
or
its or their property, from the bursting, stopping or leaking of
water,
gas, sprinklers, sewer or steam pipes, unless such damage is caused
by the
sole gross negligence of Landlord.
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17.
TENANT’S LIABILITY INSURANCE
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Tenant
shall maintain with respect to the Premises and the Project, commercial
general liability insurance in the amount of five million dollars
($5,000,000) with property damage insurance in limits of one million
dollars ($1,000,000) in responsible companies qualified to do business
in
Massachusetts and in good standing therein insuring the Landlord
as well
as Tenant against injury to persons or damage to property as provided.
Tenant shall deposit with the Landlord certificates of such insurance
at
or prior to the Term Commencement Date and thereafter within thirty
(30)
days prior to the expiration of any such policies. All such insurance
certificates shall provide that such policies shall not be altered
or
canceled without at least thirty (30) days prior written notice to
Landlord.
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18.
FIRE, CASUALTY, EMINENT DOMAIN
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Should
a substantial portion of the Premises or of the Project be substantially
damaged by fire or other casualty, or be taken by eminent domain,
Landlord
may elect to terminate this Lease. When such fire, casualty or taking
renders the Premises substantially unsuitable for their intended
use,
Tenant may elect to terminate this lease if:
(a)
Landlord
fails to deliver written notice within ninety (90) days of intention
to
restore Premises, or
(b)
Landlord
fails to restore the Premises to a condition substantially suitable
for
their intended use within one hundred eighty (180) days of
(i) receipt of insurance proceeds in the case of fire or casualty or
(ii) receipt of the award in the case of a taking.
Landlord
reserves, and Tenant grants to Landlord, all rights which the Tenant
may
have for damages or injury to the leased premises for any taking
by
eminent domain, except for damage to the Tenant’s fixtures, property, or
equipment.
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19.
DEFAULT & BANKRUPTCY
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In
the event that:
(a)
Tenant
shall default in the payment of any installment of rent or other
sum
herein specified; or
(b)
Tenant
shall vacate or abandon all or any part of the Premises or fail to
continuously occupy the Premises; or
(c)
Tenant
shall default in the observance or performance of any other of Tenant’s
covenants, agreements or obligations hereunder, such default not
having
been cured within 10 days of receiving written notice of such default;
or
(d)
Tenant
shall suffer a material adverse change in it’s business, as determined by
Landlord; or
(e)
Tenant
shall be declared bankrupt or insolvent according to law, or, if
any
assignment shall be made of Tenant’s property for the benefit of
creditors, provided,
then
Landlord shall have the right to proceed with summary process to
remove
Tenant from the Premises. In the event of default by Tenant, Tenant
shall
pay to Landlord all costs and expenses incurred in enforcing the
terms of
this Lease, including reasonable attorneys’ fees, whether or not legal
proceedings are instituted. Tenant shall indemnify the Landlord against
all loss of rent and other payments, which the Landlord may incur
by
reason of such termination during the balance of the Term of this
Lease.
If
Tenant shall default in the observance or performance of any conditions
or
covenants on Tenant’s part to be observed or performed hereunder or by
virtue of any of the provisions in any article of this Lease other
than
Tenant’s rental payment obligations, Landlord, without being under any
obligation to do so and without thereby waiving such default, may
remedy
such default for the account and at the expense of the Tenant. If
the
Landlord makes any expenditures or incurs any obligations for the
payment
of money in connection therewith, including but not limited to, all
attorney’s fees in instituting, prosecuting or defending any action or
proceeding, such sums paid or obligations incurred, with interest
at the
rate of two (2%) percent per month and costs, shall be paid to the
Landlord by the Tenant as additional rent upon notice from Landlord
to
Tenant of such costs and expenses.
Notwithstanding
anything contained in this Lease to the contrary, Landlord shall
not be in
default in the performance of any of Landlord's obligations under
this
Lease unless and until Landlord shall have failed to perform such
obligations within thirty (30) days, or such additional time as is
required to correct any such default, after receipt of written notice
from
Tenant to Landlord specifying Landlord's failure to perform any such
obligation. If Tenant claims or asserts that Landlord is in default
in the
performance of Landlord's obligations under this Lease, Tenant shall
not
be relieved of Tenant's obligations under this Lease. Tenant's sole
remedy
shall be an action for specific performance, declaratory judgment
or
injunction. In no event shall Tenant claim or assert any claim for
monetary damages in any action or by way of setoff, defense or
counterclaim. Tenant hereby waives the right to any monetary damages,
to
terminate this Lease or any other remedies available at law or in
equity.
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20.
SURRENDER
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Tenant
shall, at the expiration or other termination of this Lease, remove
all
Tenant’s goods and effects from the Premises (including without hereby
limiting the generality of the foregoing, all signs and lettering
affixed
or painted by Tenant, either inside or outside the Premises). Tenant
shall
deliver to Landlord the Premises and all keys, locks thereto, alarm
codes,
all alterations, installations and additions made to or upon the
Premises,
in good condition, damage by fire or other casualty only excepted.
In the
event of the Tenant’s failure to remove any of Tenant’s property from the
Premises, Landlord is hereby authorized, without liability to Tenant
for
loss or damage thereto, and at the sole risk of Tenant, to remove
and
store any of the property at Tenant’s expense, or to retain same under the
Landlord’s control or to sell at public or private sale, without notice,
any or all of the property not so removed and to apply the net proceeds
of
such sale to the payment of any sums due hereunder, or to destroy
such
property.
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21.
GOVERNING LAW, ETC.
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This
Lease shall be governed by and construed under the laws of the
Commonwealth of Massachusetts and shall take effect as a sealed
instrument. All terms, covenants and obligations hereunder shall
be
binding upon and shall inure to the benefit of the parties hereto
and
their respective successors and assigns. No alterations, amendments
or
waivers hereunder shall be valid or enforceable absent a written
instrument signed by all parties hereto. No waiver of any provision
hereunder on one occasion shall be deemed to be a waiver on future
occasions. All obligations hereunder shall be obligations for each
Tenant
both jointly and severally. The parties hereto agree that this Lease
contains the entire agreement between the parties and that it supersedes
all prior agreements and negotiations. Tenant has not relied upon
any
representation not contained within this Lease and acknowledges that
neither Landlord nor its agents have made any warranties or
representations of any kind or nature other than those expressly
set forth
herein.
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22. NON-
INTERFERENCE
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Tenant
hereby acknowledges that after the execution date hereunder, Landlord
or
its affiliates may, from time to time, in connection with any space
or
parcel(s) (including without limitation any space or parcel(s) which
abut
the Premises), seek to obtain various approvals, variances, permits,
authorizations and/or special permits and the like from the local
municipality and the Commonwealth of Massachusetts. Tenant hereby
agrees
to cooperate with Landlord in all such efforts and agrees not to
oppose or
interfere with Landlord, its affiliates, agents, designees, appointees
or
assigns, in Landlord’s attempts to obtain any such approvals, variances,
permits, authorizations and/or special permits and the like. Tenant’s
obligations under this paragraph shall be binding on Tenant’s officers,
directors, shareholders and employees and shall survive the termination
of
the Lease. Tenant acknowledges that any interference shall be deemed
a
breach of this Lease and Landlord, at its sole discretion, may terminate
this Lease.
|
|
|
23. BROKERAGE
|
Tenant
and Landlord represent and warrant that they have dealt with no brokers
in
this transaction. Each of the parties represents and warrants that
there
are no claims for brokerage commissions or finder's fees in connection
with the execution of this lease, and each of the parties agrees
to
indemnify the other against, hold it harmless from all liabilities
arising
from any such claim including without limitation, the cost of counsel
fees
in connection therewith.
|
|
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24. INDEPENDENT
COVENANTS
|
Landlord
and Tenant agree that the obligations of Tenant hereunder, including,
without limitation, Tenant’s obligation to pay rent and additional rent,
are independent and not mutually dependent covenants, and that the
failure
of Landlord to perform any obligation hereunder shall in no event
justify
or empower Tenant to withhold rent, additional rent or any other
amount
due to Landlord hereunder or to terminate the Lease. Tenant acknowledges
that the foregoing is a material inducement to Landlord to enter
into this
Lease.
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IN
WITNESS WHEREOF, the said parties hereunto set their hands and seals this 20th
day of June, 2008.
|
|
LAHINCH
LIMITED PARTNERSHIP
|
|||
|
LIGHTSPACE
CORPORATION
|
By:
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Lahinch
Corporation,
|
||
|
Its
Sole General Partner
|
||||
|
By:
|
|
|
||
|
Name:
|
Xxxx
Xxxxxxxx
|
|
||
|
Title:
|
President
& CEO
|
|||
|
By:
|
By:
|
|||
|
Name:
|
Xxxxx
Xxxxxxx
|
Name:
|
Xxxxxx
Xxxxxxx
|
|
|
Title:
|
Vice
President
|
Title:
|
President
|
|
9
