FOURTH AMENDMENT TO LEASE DATED JUNE 29, 2018
FOURTH AMENDMENT TO LEASE DATED JUNE 29, 2018
Xxxxx Xxxxx Technology Center, L.P., a California limited partnership (“Lessor”), and Cidara Therapeutics, Inc., a Delaware corporation, (“Lessee”), hereby amend the Lease dated June 9, 2014 (as previously amended, the “Lease”), for Suites #101 through #105 at 0000 Xxxxx Xxxxx Xxxxx, Xxx Xxxxx, XX 00000 (“Premises”) as follows:
1) | Expiration Date: The Lease Term is hereby extended and the Expiration Date shall be December 31, 2021. Lessee continues to have the right to exercise the options to extend the term of the Lease pursuant to the terms and conditions of Paragraph 57 of the addendum to the Lease. |
2) | Increase in Base Rent: On January 1, 2019 the Base Rent shall increase to $69,649.30 per month. On January 1, 2020, and every twelve (12) months thereafter, the Base Rent shall increase three percent (3%). |
3) | HVAC: Provided (a) Lessee has not modified the HVAC system, (b) Lessee has properly maintained the HVAC system, and (c) Lessor has reasonably approved the repair in advance of such repair being done, then, for each repair or replacement of a HVAC unit that is over twelve (12) years old, Lessee shall be responsible for the first $500 of the required repair or replacement, and Lessor shall be responsible any amount over $500 until after the HVAC unit is replaced with a new HVAC unit, at which time Lessee shall be responsible for all repair and replacement costs for the new HVAC unit. Notwithstanding the foregoing, Lessor shall continue to have the obligation to replace, when needed and without any reimbursement from Lessee, the HVAC units described in Paragraph 4 of the Third Amendment to Lease. A schedule of the HVAC units is attached as Exhibit A hereto. Except as provided in this paragraph, Lessor's and Lessee's obligations with respect to maintenance, repair, and replacement of HVAC units that service the Premises remain unchanged, including, (1) all maintenance costs for all HVAC units shall remain Lessee’s sole responsibility and (2) Lessor's and Lessee's obligations described in Paragraph 4 of the Third Amendment to Lease are not amended by this paragraph. |
4) | Tenant Improvements: Lessor waives any restoration rights as to tenant improvements approved by Lessor prior to the date of this Amendment, and specifically Lessee shall not be required to restore the offices removed at the rear of Suite #103 to create rooms #000, #000, #000 and #316. |
5) | Option to Expand: Provided Lessee has not Defaulted (whether subsequently cured or not) under any of the terms of the Lease, then, subject to any existing rights of any other tenants of the Project, Lessee shall have the option to lease any vacant space controlled by Lessor in 6310 or 6330 Xxxxx Xxxxx Drive in its as-is condition without warranty at the same terms and conditions in the Lease (as amended by this Amendment), including the same rate of Base Rent/sf, Base Rent increases, and Expiration Date; however, Lessee's Share shall be increased based upon the added area of the Expansion Space (defined below). To exercise the option, Lessee must, on or before September 30, 2019, deliver to Lessor written notice that states (1) Lessee is exercising the option, (2) the vacant space that Lessee desires to lease, which space must be (i) one or more full suites and (ii) fully demised from other spaces in the building (such space described in the notice is herein referred to as "the Expansion Space"), and (3) the date Lessee wants to take possession of the Expansion Space, which date shall not be later than 15 days after |
the date of Lessee's notice. All provisions of the Lease, including Lessee's obligation to pay Rent, shall apply to the Expansion Space commencing on the earlier of (1) the date Lessee takes possession of the Expansion Space or (2) the date specified in Lessee's notice. Lessee's option under this paragraph shall not apply to any vacant space with respect to which Lessor has received an acceptable letter of intent to lease prior to the date Lessee delivers Lessee's notice exercising Lessee's option.
6) | Special Option re 0000 Xxxxx Xxxxx Xxxxx, Xxxxx 000. This paragraph is agreed to by Lessor and Lessee with reference to the following facts: (1) the premises commonly known as 6330 Xxxxx Xxxxx Drive, Suite 104 (the "IVS Space") is currently occupied by IVS Technologies, Inc., pursuant to a lease (the "IVS Lease") between Lessor and IVS Technologies, Inc., (2) IVS is actively attempting to sublease the IVS Space, and (3) Lessee may desire to sublease the IVS Space for the remaining term of the IVS Lease, provided that Lessor agrees to a direct lease with Lessee for the IVS Space for the period commencing on the expiration date of the IVS Lease and ending on the Expiration Date of the Lease. Based upon such facts, Lessor and Lessee agree, if prior to July 31, 2018 ("the Special Option Expiration Date"), Lessee and IVS Technologies, Inc. enter into a sublease for the IVS Space, then (1) Lessor shall not unreasonably withhold Lessor's consent to such sublease and (2) Lessee shall have the option to lease the IVS Space in its as-is condition without warranty at the same terms and conditions in the Lease (as amended by this Amendment), including the same rate of Base Rent/sf, Base Rent increases, and Expiration Date; however, (1) the terms of the Lease, including the obligation to pay Rent, shall apply to the IVS Space commencing upon expiration or earlier termination the IVS Lease and (2) Lessee's Share shall be increased based upon the added area of the IVS Space. To exercise the option, Lessee must, on or before July 31, 2018, (1) enter into a sublease with IVS Technologies, Inc. pertaining to the IVS Space, (2) have received Lessor's consent to such sublease, and (3) deliver to Lessor written notice that states Lessee is exercising the option. Lessor agrees that, if prior to the Special Option Expiration Date Lessor receives from IVS Technologies, Inc., a written request for Lessor to consent to a sublease of the IVS Space with anyone other than Lessee, Lessor shall promptly after receiving such request advise Lessee that Lessor has received such request; however, Lessor shall not be obligated to provide to Lessee any information concerning the terms and conditions of such proposed sublease. |
7) | Confidentiality: The terms of the Lease are confidential. No party to the Lease shall disclose any of the terms of the Lease to any other party, provided that Lessee may disclose such terms to Lessee's employees, directors, officers, agents and proposed transferees. |
8) | No Default: To each party's knowledge, neither party is currently in Default or Breach of any of the terms or conditions of the Lease. |
9) | Authority to Execute: Each person executing this Amendment represents and warrants to all parties that he or she is duly authorized to execute and deliver this Amendment on behalf of that party. |
All other terms and conditions of the Lease shall remain in full force and effect. All capitalized terms used herein but not defined herein shall have the meanings ascribed thereto in the Lease.
Lessor: | Xxxxx Xxxxx Technology Center, L.P., a California Limited Partnership |
By: | Xxxxx Xxxxx Technology Center, LLC, a California Limited Liability Company, |
its General Partner
By:
Xxxxx Xxxxxxxxxx, its Manager
Lessee: Cidara Therapeutics, Inc., a Delaware corporation
By:
Printed: Xxxxxxx Xxxxxxx
Title: CFO & General Counsel
Schedule of Exhibits
Exhibit A--Schedule of HVAC Units
Exhibit A--HVAC SCHEDULE
HVAC UNITS (3/28/18) | ||||||
HVAC COVERED BY LEASE | ||||||
Unit number | # on unit | model number | serial number | manufacturer | year of man. | age |
101-1 | 101-1 | 50EZ-A24-30 | 2614C13907 | Carrier | 2014 | 4 years |
101-2 | 101-2 | RQPL-B042CK 000 | F231700029 | Rheem | 2017 | 1 year |
101-3 | 101-3 | 50TCQD12A2A5A0A0A0A0 | 3812G50170 | Carrier | 2012 | 6 years |
101-4 | 101-4 | 50EZ-A48-50 | 2814C41445 | Carrier | 2014 | 4 years |
101-5 | 101-5 | unknown | unknown | Carrier | 1987 | 31 years |
101-6 | 101-6 | 50TCQDU8A2A5A0A0A0 | 2616P97919 | Carrier | 2016 | 2 years |
101-7 | 101-7 | 50TJQ009-501 | 4498G30498 | Carrier | 1998 | 20 years |
102-1 | 102-1 | 50TCQD09A2A5A0A0A0 | 0716P60797 | Carrier | 2016 | 2 years |
102-2 | 102-2 | YHJD60S43S5A | W1K4091677 | York | 2014 | 4 years |
102-3 | 102-3 | B1HA024A06B | (s) NHHM110673 | York | 1999 | 19 years |
102-4 | 102-4 | B3CH060A25ECC | (s) NMHM159010 | York | 1999 | 19 years |
102-5 | 102-5 | B3CH120A25ECB | (s) NLHM144215 | York | 1999 | 19 years |
102-6 | 102-6 | B3CH090A25ECB | (s) NMHM161575 | York | 1999 | 19 years |
103 new | 103-3 | 50VT-B24-30TP | 2715C12842 | Carrier | 2015 | 3 years |
103-4 | 103-4 | 50EZ-A24-30 | 4311C15143 | Carrier | 2011 | 7 years |
103-5 | 103-5 | 50TCQA04A2A5A0A0A0 | 4111C59853 | Carrier | 2011 | 7 years |
103-6 | 103-6 | 50TCQA05A2A5A0A0A0 | 3511C57334 | Carrier | 2011 | 7 years |
103-7 | 103-7 | WCC024F100BB | L393RY42H | Trane | 1996 | 22 years |
103-8 | 103-8 | out of service | ||||
old | 103-9 | WCG036F100BB | 391PLWH | Trane | 1999 | 19 years |
old | 103-10 | WCC024F100BB | 3925BM2H | Trane | 1996 | 22 years |
104-1 | 104-1 | CPH060XXX3BXXXBA | 0000000000 | Goodman | 2010 | 8 years |
104-2 | 104-2 | CPH060XXX3BXXXBA | 1007418931 | Goodman | 2010 | 8 years |
104-3 | 104-3 | RQKA-A030JK 000 | 5616F519712489 | Rheem | 1997 | 21 years |
105-11 | 105-11 | 50TCQA04A2A5A0A0A0 | 0415C55917 | Carrier | 2015 | 3 years |
105-12 | 105-12 | 38AYC048320 | 1700E00271 | Carrier | 2000 | 8 years |
105-13 | 105-13 | RQKA-A030JK 000 | 6516F429706089 | Rheem | 1997 | 21 years |
105-14 | 105-14 | 48GS-060090501 | 0700G10083 | Carrier | 2000 | 8 years |
105-5 | 105-15 | 48TCDD12AZA5A0A0A0 | 1115P62329 | Carrier | 2015 | 3 years |
105-6 | 105-16 | 48TCDD12A2A5A0A0A0 | 1615P42764 | Carrier | 2015 | 3 years |
HVAC 6330 NRD | ||||||
suite 104 1st. Fl | AC-3 | 3311C56083 | Carrier | 2011 | 7 years | |
suite 104 1st. Fl | AC-4 | 1012C66081 | Carrier | 2012 | 6 years | |
suite 104 1st. Fl | AC-5 | 1212C85580 | Carrier | 2012 | 6 years | |
