FIRST AMENDMENT TO AMENDED AND RESTATED LEASE
Exhibit 10.25
FIRST AMENDMENT TO AMENDED AND RESTATED LEASE
THIS FIRST AMENDMENT TO AMENDED AND RESTATED LEASE (this “Amendment”)
is entered into as of November 6, 2023, by and between LOTS 21 & 22 OWNER (DE) LLC, a Delaware limited liability company (“Landlord”),
and IONIS PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”).
R E C I T A L S:
X. Xxxxxxxx and Tenant are parties to that certain Amended and Restated Lease Agreement dated as of August 21, 2023 (the “Lease”) for certain
premises consisting of approximately 164,757 gross square feet, all located within Lots 00 & 00, Xxxxxxxx Xxxx X xx Xxxxxxxx, Xxxxxxxxxx 00000 (the “Premises”).
B. In connection therewith, Landlord and Tenant desire to amend the Lease as set forth below.
A G R E E M E N T:
NOW, THEREFORE, in consideration of the mutual covenants contained herein and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree to amend the Lease as follows:
1. Work Letter. Schedule 9 to Exhibit B
of the Lease titled “LCW by Xxxxxx and TI by Landlord” regarding the Landlord’s Construction Work by Tenant and the Tenant Improvements by Landlord is hereby deleted in its entirety and replaced with the revised Schedule 9 titled “LCW by Tenant
and TI by Landlord” attached hereto as Exhibit 1.
2. Miscellaneous. Except as modified
herein, the Lease and all of the terms and provisions thereof shall remain unmodified and in full force and effect as originally written. In the event of any conflict or inconsistency between the provisions of the Lease and the provisions of
this Amendment, the provisions of this Amendment shall control. All terms used herein but not defined herein which are defined in the Lease shall have the same meaning for purposes hereof as they do for purposes of the Lease. The Recitals set
forth above in this Amendment are hereby incorporated by this reference. This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective beneficiaries, successors and assigns. It is understood and
acknowledged that there are no oral agreements between the parties hereto affecting the matters set forth in this Amendment and this Amendment constitutes the parties’ entire agreement with respect to the matters set forth in this Amendment and
supersedes and cancels any and all previous negotiations, arrangements, agreements and understandings, if any, between the parties hereto or with respect to the subject matter thereof, and none thereof shall be used to interpret or construe this
Amendment.
3. Counterparts. This Amendment may be executed in any number of
original or electronic counterparts which shall be treated as originals for all purposes, and by each of the undersigned on separate counterparts, which counterparts taken together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the day and year
first above written.
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LANDLORD:
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LOTS 21 & 22 OWNER (DE) LLC,
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a Delaware limited liability company
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By:
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/s/ Xxxxx Xxxxx
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Name:
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Xxxxx Xxxxx
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Title:
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Vice President
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By:
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/s/ Xxxxxxx Xxxxx
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Name:
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Xxxxxxx Xxxxx
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Title:
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Vice President
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TENANT:
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IONIS PHARMACEUTICALS, INC.,
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a Delaware corporation
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By:
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/s/ Xxxx Xxxxxx
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Name:
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Xxxx Xxxxxx
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Title:
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CFO
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EXHIBIT 1
Schedule 9 (to Exhibit B)
LCW by Xxxxxx and TI by Landlord
[ATTACHED]
