LEASE PREMISES: Units 4 &10
Exhibit 4.5
LEASE
PREMISES: Xxxxx 0 &00
00-00
Xxxxxxx Xxxxxx,
Xxxxxxxxx Xxxxx XXX 0000
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THISANDTHEFOLLOWINGPAGESFORMTHELEASEBETWEENWATTLELABORATORIESPTY LTD ATF THE ADVANCED CULTURE SYSTEMS UNIT TRUST ABN 12 234 517 721 AND IMMURON LTD ABN 80 063 114 045
1. | Landlord. Wattle Laboratories Pty Ltd ABN 12 234 517 721 the registered office of which is situated at “Lifestyle Building”, Xxxxx 0, Xxxxx 00, 000 Xxxxxxxxx Xxxxxxx, Xxxxxxxxx Park in the State of Victoria. The postal address is Xxxx 00, 00- 00 Xxxxxxx Xxxxxx, Xxxxxxxxx Xxxxx, XXX, 0000. |
2. | Tenant. lmmuron Ltd ABN 80 063 114 045 of Xxxx 00, 00-00 Xxxxxxx Xxxxxx, Xxxxxxxxx North, in the said State. |
3. | Premises. 10, 00-00 Xxxxxxx Xxxxxx, Xxxxxxxxx Xxxxx in the said State (inclusive of car park spaces). |
4. | Landlord’s Installations. Includes all current services as per last inspection. |
5. | Term of Lease. Three (3) years commencing on Saturday 1st January 2022. |
6. | Further Term. One (1) further term of three (3) years. |
6.1. | The Tenant may exercise its option to renew the lease for the Further Term by written request to the Landlord before the final date as specified in clause 6.2. |
6.2. | The final date for exercising the option under clause 6.1 is 31st December 2024. |
6.3. | The renewed lease will be for the duration of the Further Term, and will be governed by the same terms and conditions as this agreement unless the parties agree otherwise. |
6.4. | Rent payable for the Further Term will be determined by the parties prior to renewal of the lease for the Further Term. |
6.5. | At least six (6) months, and no more than twelve (12) months, prior to the final date specified in clause 6.2, the Landlord must write to the Tenant notifying it of the final date. |
6.6. | The Landlord does not have to comply with clause 6.5 if the Tenant exercises or purports to exercise the option before being notified by the Landlord. |
7. | Permitted Use of Premises. These Premises may be used for office accommodation and warehousing facility. |
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9. | Rent Review. |
CPI Review | Annually on each anniversary date of the commencement of this lease. |
Further Terms
CPI Review | Annually on each anniversary of the commencement date of this lease |
10. | Repairs, Maintenance, Fire Prevention &Requirements of Authorities. |
10.1 | Subject to Clause 10.3, the tenant must:- |
10.1.1 | keep the premises in the same condition as at the start of the lease, except for fair wear and tear; and |
10.1.2 | comply with all notices and orders affecting the premises which are issued during the term. |
10.2 | In addition to its obligations under clause 3.1, the tenant must - |
10.2.1 | repaint or refinish all painted or finished surfaces in a workmanlike manner with as good quality materials as previously at least once every 5 years during the term and any further term viewed as one continuous period. |
10.2.2 | keep the premises properly cleaned and free of rubbish, keep waste in proper containers and have it removed regularly. |
10.2.3 | immediately replace glass which becomes cracked or broken with glass of the same thickness and quality. |
10.2.4 | immediately repair defective windows, light fittings, doors, locks and fastenings, and replace missing or inoperative light- globes and fluorescent tubes, keys and key cards. |
10.2.5 | maintain in working order all plumbing, drainage, gas, electric, solar and sewerage installations. |
10.2.6 | promptly give written notice to the landlord or landlord’s agent of - |
a) | damage to the premises or of any defect in the structure of, or any of the services to, the premises, |
b) | receipt of an notice or order affecting the premises, |
c) | any hazards threatening or affecting the premises, and | |
d) | any hazards arising from the premises for which to landlord might be liable. |
10.2.7 | immediately make good damage caused to adjacent property by the tenant or the tenant’s agents. |
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10.2.8 | permit the landlord, its agents or workmen to enter the premises during normal business hours, after giving reasonable notice (except in cases or emergency)- |
a) | to inspect the premises, |
c) | to do anything to comply with notice or orders of any relevant authority, bringing any necessary material and equipment. |
10.2.9 | carry out repairs within 14 days of being serviced with a written notice of any defect or lack of repair which the tenant is obliged to make good under this lease. If the tenant does not comply with the notice, the landlord may carry out the repairs and the tenant must repay the cost to the landlord within 7 days of a request. |
10.2.10 | only use persons approved by the landlord to repair and maintain the premises, but, if the Act applies, only use person who are suitable qualified. |
10.2.11 | comply with all reasonable directions of the landlord or the insurer of the premises as to the prevention, detection and control of fire. |
10.2.12 | on vacating the premises, remove all signs and make good any damage caused by the installation or removal. |
10.2.13 | take reasonable precautions to secure the premises and their contents from theft, keep all doors and windows locked when the premises are not in use and comply with the landlord’s directions for the use and return of keys or key cards. |
10.2.14 | permit the landlord or its agent access to the premises at reasonable times by appointment to show the premises - |
a) | to valuers and to the landlord’s consultants, |
b) | to prospective purchases at any time during the terms, and |
c) | to prospective tenants within 3 months before the end of the term (unless the tenant has exercised an option to renew this lease) |
and to affix “for sale” or “to let” signs in a way that does not unduly interfere with the permitted use.
10.2.15 | maintain any grounds and gardens of the premises in good condition, tidy, free from weeds and well-watered. |
10.2.16 | maintain and keep in good repair any heating, cooling or air conditioning equipment exclusively serving the premises. |
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10.3 | The tenant is not obliged - |
10.3.1 | to repair damage against which the landlord must insure unless the landlord loses the benefit of the insurance because of acts or omissions by the tenant or the tenants agent’s. |
10.3.2 | to carry our structural or capital repairs or alterations or make payments of a capital nature unless the need for them results from - |
a) | negligence by the tenant or the tenant’s agents, |
b) | failure by the tenant to perform its obligation under this lease, |
c) | then tenant’s use of the premises, other than reasonable use for the permitted use, or |
d) | the nature, location or use the tenant’s installation, in which case the repairs, alterations or payments are the responsibility of the tenant. |
11. | Risks which the insurance policies must cover: |
Fire
Flood
Lightning
Storm and Tempest
Explosion
Riot and civil commotion Strikes
Malicious damage
Earthquake
Impact by vehicles
Impact by Aircraft and articles dropped from them Internal
flood water
and such other risks as the Landlord reasonable requires from time-to-time.
12. | Amount of Public Risk. Ten million dollars ($10,000,000) or any other amount reasonable specified from time-to-time fixed by the Landlord. |
13. | Interest rate on overdue money. An amount which is 2% per annum more that the rate from time-to-time fixed by the Penalty Interest Rates Xxx 0000 (VIC). |
14. | Building Outgoings which the tenant must pay or reimburse: Included in annual rental. |
15. | Cost to Operate Services. Included in annual rental. |
17. | Landlord’s Obligations. |
17.1 | The landlord must give the tenant quiet possession for the premises without any interruption by the landlord or any connected with the landlord as long as the tenant does what it must under the lease. |
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17.2 | The landlord must take out at the start of the term and keep current policies of insurance for the risks against - |
17.2.1 | damage to and destruction of the building, for its replacement value, |
17.2.2 | removal of debris, |
17.2.3 | breakdown of landlord’s installation, and |
17.2.4 | breakage of glass, for its replacement value. |
17.3 | The landlord must give the tenant the written consent to this lease of each mortgagee whose interest would otherwise have priority over this lease by endorsement on this lease in the terms set out following the “execution and attestation” section. |
17.4 | The landlord must keep the structure (including the external faces and roof) to the building and landlord’s installation in a condition consistent with their condition at the start of the lease, but is not responsible for repairs which are the responsibility of the tenant. |
18. | Legal Costs. Each Party to bear its own legal costs. |
21. | Amendment. This Agreement may be modified or amended, if the amendment is made in writing and is signed by both parties. |
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(b) | the word including means including without limitation. |
29. | Assignment. This Agreement may not be assigned by either party without the prior written consent of the other. |
[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]
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IN WITNESS WHEREOF, the parties have executed this agreement on this day the 30th November 2021.
LANDLORD
WATTLE LABORATORIES PTY LTD ATF THE ADVANCED CULTURE SYSTEMS UNIT TRUST (ABN 12 234 517 721)
Duly executed by:
/s/ Xxxxx Xxxxxxxxxx | /s/ Xxxxxxx Xxxxxxxxxx |
Name: | Xxxxx Xxxxxxxxxx | Xxxxxxx Xxxxxxxxxx | |
Title: | Director | Director | |
Address: | 0 Xxxxxxxx Xxxxxx, | 00 Xxxxxx Xxxxxxx | |
Xxxxxx Xxxxx XXX 0000. | Xxxxxxxxxxx, XXX 0000. |
TENANT
IMMURON LIMITED (80 063 114 045)
Duly executed by:
/s/ Xxxxx Xxxxxxxx | /s/ Xxxx Xxxxxxxxxxx |
Name: | Xxxxx Xxxxxxxx | Name: | Xxxx Xxxxxxxxxxx | |
Tile: | Chief Executive Officer | Title: | Manufacturing Quality Director |
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