AMENDMENT #1 TO SHARED SPACE ARRANGEMENT
Exhibit 10.7
AMENDMENT #1 TO SHARED SPACE ARRANGEMENT
This Amendment #1 To Shared Space Arrangement (this “Amendment”) is made effective as of July 1, 2024, by and between OMEGA THERAPEUTICS, INC., a Delaware corporation (“Licensor” or “Tenant”), having an address of 000 Xxxxx Xxxxxx, Xxx 000, Xxxxxxxxx, XX 00000, and Prologue Medicines, Inc. (formerly Flagship Labs 89, Inc.), (“Licensee” or “Space Occupant”), having an address of 000 Xxxxx Xxxxxx, Xxx 000, Xxxxxxxxx, XX 00000.
R E C I T A L S
NOW, THEREFORE, in consideration of the foregoing and the agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Tenant and Space Occupant hereby agree:
2. Shared Space: This Shared Space Arrangement shall allow Licensee to use only the space within the Premises consisting of approximately 8,881 rentable square feet and as more particularly shown on Area C of Exhibit A and Area B Lab of Exhibit C attached hereto (the “Shared Space”), which may be amended by mutual agreement set forth in writing between the parties. Notwithstanding anything to the contrary contained herein, the parties acknowledge that a portion of the Shared Space shall be for the shared use of Licensee, Licensor and other licensees within the Premises (the “Common Areas”). The use of such Common Areas shall be in accordance with this Shared Space Arrangement and any reasonable rules and regulations promulgated for their use hereafter.
(b) Licensee will pay a “License Fee,” which is its monthly proportionate share of Tenant’s cost of the actual Base Rent and Additional Rent (each as defined in the Prime Lease), and any additional sums which are paid by Licensor for the use and occupancy of the Shared Space including but not limited to utilities, building maintenance, waste removal, alarm and security services, property management fee, and parking. Licensee’s proportionate share of: (i) Tenant’s cost of the actual Base Rent shall be 11.3% of the actual Base Rent, (ii) Tenant’s cost of the actual Operating Expenses shall be 11.3% of Tenant’s Share of Operating Expenses of Building (as such term is defined in the basic lease information of the Prime Lease), (iii) such additional sums paid by Licensor for the use and occupancy of the Shared Space shall be 11.3% of any amounts actually charged by Prime Landlord.
Tenant and Space Occupant, and to Tenant’s and Space Occupant’s knowledge, all beneficial owners of Tenant and Space Occupant are currently (a) in compliance with and shall at all times during the Term of the Lease remain in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury and any statute, executive order, or regulation relating thereto (collectively, the “OFAC Rules”), (b) not listed on, and shall not during the Term of the Lease be listed on, the Specially Designated Nationals and Blocked Persons List maintained by OFAC and/or on any other similar list maintained by OFAC or other governmental authority pursuant to any authorizing statute, executive order, or regulation, and (c) not a person or entity with whom a U.S. person is prohibited from conducting business under the OFAC Rules.
Space Occupant and Tenant each represents and warrants that it has not dealt with any broker, agent or other person (collectively, “Broker”) in connection with the transaction reflected in this Amendment and that no Broker brought about this transaction. Space Occupant and
Tenant each hereby agrees to indemnify and hold the other harmless from and against any claims by any Broker claiming a commission or other form of compensation by virtue of having dealt with Tenant or Space Occupant, as applicable, with regard to this Amendment.
[ Signatures on next page ]
IN WITNESS WHEREOF, Tenant and Space Occupant have caused their duly authorized representatives to execute this Amendment as of the date first above written.
|
LICENSOR: |
|
|
|
|
|
||
|
a Delaware corporation |
|
|
|
|
Dated: June 17, 2024 |
By: |
/s/ Xxxxxx Xxxxxxx |
|
Its: |
President and CEO |
|
|
|
|
☒ I hereby certify that the signature, name, and title above are my signature, name and title. |
|
|
|
|
|
|
|
|
LICENSEE: |
|
|
|
|
|
PROLOGUE MEDICINES, INC. (formerly Flagship Labs 89, Inc.) |
|
|
a Delaware corporation |
|
|
|
|
Dated: June 17, 2024 |
By: |
/s/ Xxxxxx Xxxxxxxx |
|
Its: |
CEO |
|
|
|
|
☒ I hereby certify that the signature, name, and title above are my signature, name and title. |
|
|
|
|
|
|
|
|
|
|
Exhibit A
Exhibit B
Area B Lab