Exhibit 10.26
VIRGINIABIOTECHNOLOGYCENTER
AGREEMENTOFSUBLEASE
THISAGREEMENTOFSUBLEASE,datedasofthe17th dayofApril,2015byand betweenVIRGINIABIOTECHNOLOGYRESEARCHPARTNERSHIPAUTHORITY,a politicalsubdivisionoftheCommonwealthofVirginiacreatedbyanactoftheVirginiaGeneral Assembly,thepurposeofwhichistodevelopandoperatetheVirginiaBiotechnologyResearch Parkforthepurposeofexpanding,developingandcommercializingknowledgepertainingto scientificandtechnologicalresearchamongpublicandprivateentitiesincluding,butnotlimited to,knowledgeintheareaofthebiotechnologyandbiomedicalsciences(the"Authority"),andAmpliPhi BiosciencesCorporation,(the "Tenant"), recites and provides:
RECITALS:
TheVirginiaBiotechnologyParkBiotechOneBuilding("BiotechOne")ispartofthe PhaseIIComplexoftheVirginiaBiotechnologyResearchPark,whichisbeingdevelopedasa biotechnologyandbiomedicalresearchpark(the"ResearchPark").TheCenterislocatedat800 East Leigh Street in the City of Richmond.
TheAuthoritywishestosubleasetotheTenantforitsexclusiveuseandoccupancyoffice suitesonthe2ndlevelofBiotechOneandknownasOffices#6a,6b,7,and8asdepictedonExhibit Aattached hereto and referred to herein as the "Premises."
AGREEMENTOFSUBLEASE:
Forandinconsiderationofthemutualcovenantsandconditionssetforthherein,theAuthorityand theTenantagreeas follows:
1. SubleasedPremises.
(a) TheAuthorityherebysubleasesthePremisestotheTenant,andtheTenantherebyrents the Premisesfrom theAuthorityforthe term(asdefined herein).
(b) TheTenantshallalsohavetherighttousecertaincommonfacilitiesandservicesoftheCenteratnocost,andtheoptiontopurchaseadditionalservices,allofwhicharespecifiedinExhibitBattachedheretoandreferredtohereinas"CommonFacilitiesandServices."
(c) Forpurposesofpatentandcopyrightownership,thePremisesandtheCenteraretobeconsideredfacilitiesoftheVirginiaBiotechnologyResearchPartnershipAuthorityand not thefacilities ofanyVirginiauniversityorinstitution.
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2. Term.The initialtermofthisSublease(the"Initial Term")shallbeforaperiodofsix(6) months,beginningonMay1,2015(the“CommencementDate”)andendingOctober31,2015(the “TerminationDate.”).However,byspecialagreement,atanytimefromthe commencementdateshouldthetenantdecidetovacatethesepremises,tenantmay,aftergiving theAuthority60dayspriornoticeofintenttodoso,terminatethisleasewiththepayment penaltyofonemonth'srent.Shouldtenantremaininthepremisesforfullterm,theAuthoritygrants to the Tenant two one-year renewal options, with each renewal option dependent upon theTenant giving the Authority 60 days prior notice of the exercise of such renewal and dependent upon approval by the Authority.
3. Rent.
(a) TheTenantshallpayallrentandotherchargestobepaidbytheTenanthereundertotheAuthorityattheofficeoftheAuthorityinRichmond,Virginia,ortosuchotherindividual,firmorcorporationandatsuchotherplaceasmaybedesignatedbytheAuthority.Tenantagrees to paythe SecurityDepositand thefirstmonth’srent toreservethe lab. If theTenantdoesnot occupy thespace, then thesemoniesareforfeited to the Authorityand thisSubleaseisterminated withTenant having nofurther obligations to theAuthority.
(b) TheTenantshallpayamonthlyrent(the“MonthlyRent”)withoutnotice, demandorsetoffduringthetermhereofbaseduponaninitialtotalannualrentof$22,740.00. Noreductionorincreaseinrentshallbeavailablefornon-materialdiscrepanciesinactualsquare footage.DuringtheInitial TermtheMonthlyRentshallbe$1,895.00permonth. After the Initial Term, theMonthlyrentshallbeincreasedannuallyasofthedatethefirstpaymentofeach SubleaseYearisduebeginningwiththesecondSubleaseYearbyanamountequalto3%ofthe last Monthly Rent payable during the preceding Sublease year.
(c) TheMonthlyRentistobepayableinadvanceonthefirstdayofeachcalendarmonthduringthetermhereofwithoutnoticeordemandandwithoutsetoffanditisto bereceivedat theAuthority’soffices within five (5)daysafterthefirstdayofeachrental month. If the MonthlyRent is notreceived in the Authority'soffice within five (5)daysafter thefirst dayofeachrental month,thereshall beimposedupontheTenant alatechargeequal to 5%of themonthlyrentalamountandthetotaloutstandingbalancewillbeassessedaninterestrateequivalentto 12% per annum. If theCommencementDate isnotthe firstdayof acalendar month, theTenant shall payon thefirstdayof thefirstcalendar month following theCommencement Date aproportionateamount of the monthlyRent for theperiod of timefrom theCommencementDateto the date onwhich suchfirst monthly paymentisdue.
(d) AllamountsandchargesinadditiontotheMonthlyRentrequiredtobepaidbytheTenantinaccordancewiththetermshereofshallbedeemedtobeadditionalrent(the"AdditionalRent"). Suchamountsorcharges, if notpaidatthe time provided inthisSublease, shall becollectibleasAdditionalRentwith the nextinstallment of therent dueandpayablehereunder;provided,however,thatnothinghereincontainedshallbedeemedtosuspendordelaythetimeforanypaymenttobemadebytheTenanthereunder ortolimitanyotherremedyoftheAuthority.
4. Space “AsIs”.ThetenantshalltakeoccupancyofthePremisesin“asis”condition.
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5. UseofPremises. TheTenantshallusethePremisesforbiotechnologyandbiomedicalresearch&developmentpurposesoradvancedtechnologyinitiativesininformation technology,computers,telecommunications,microelectronics,chemical,pharmaceuticalor biotechnologyas described inExhibit C.Tenant shall not use thePremises or permit thePremises to be used for anyotherpurpose without thepriorwrittenconsent of theAuthority,and suchconsent shall not be unreasonablywithheld. TheTenant shall comply withallapplicablelaws and regulations inconnection with its use and occupancy of the Premises.
6. SecurityDeposit. UponexecutionofthisSublease,theTenantshalldepositwiththeAuthoritycashintheamountof$1,895.00.SuchdepositshallbeheldbytheAuthority withoutinterest,fortheentiretermofthisSublease,anduntilalloftheTenant’sobligations underthisSubleasehavebeenpaidinfull,assecurityfortheperformancebytheTenantofallof itsobligationsunderthisSublease.IfatanytimeduringthetermofthisSubleaseanyrentor otherchargetobepaidbytheTenantisnotpaidwhendue,ortheTenantfailstoperformanyof itsobligationsunderthisSublease,theAuthoritymay,atitsoption,applyanypartofsuch deposittothepaymentofanysuchoverduerentorotherchargeortothereimbursementofthe AuthorityforanylossordamagesustainedasaresultoftheTenant’sfailuretoperformits obligations. Ifsuchdeposit,oranypartthereof,isappliedbytheAuthorityasprovidedherein, upon written demand by the Authority, the Tenant shall remit to the Authority forthwith a sufficient amount in cash to restore such deposit to the original amount thereof. When all the Tenant’s obligations hereunder have been paid in full, the Authority shall return to the Tenant such deposit or so much thereof as held by the Authority for the Tenant. The Authority shall have the right to transfer the funds deposited hereunder by the Tenant to any purchaser of the Authority’s interest in the Subleased Premises, and upon any such transfer of such funds the Authority shall be discharged from any further liability with respect hereto.
7. CommonAreas.AllareasandcommonfacilitiesfurnishedbytheAuthorityinsideoroutsidethe Center for thegeneraluse,incommon,oftenantsoroccupantsoftheCenterandtheiremployeesandinviteesshallatalltimesbesubjecttotheexclusivecontrolandmanagement oftheAuthority.
8. ServicesandUtilities.(a)ThefollowingserviceswillbesuppliedtotheTenantat theexpenseof Authorityduringthe termhereof:
(i) | Electricity. |
(ii) | Heatingandair conditioninginseasonMondaythroughFridayfrom7:30a.m.to5:30p.m.,exceptonthefollowingholidays: Christmas,NewYear's Day,Thanksgiving,July4th,MemorialDayand LaborDay. |
(iii) | Cleaningservices for thePremises, commonareas andtherestrooms oftheBuilding, Mondaythrough Fridayofeachweek,except onholidays. |
(iv) | Hotandcold waterand lavatorysupplies;additionally, hot andcoldwateraretobesupplied to thePremises. |
(v) | Maintenanceandelectriclightingforallcommonareas. |
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(b) Ifanylaw,regulation,executiveoradministrativeorderrequiresthatthe AuthorityorTenantreduceormaintainatacertainleveltheconsumptionofelectricity forthePremises ortheCenterwhichaffects theheating,airconditioning,lighting,or hours ofoperationof thePremises or the Center, the Authorityand theTenant shalleachadheretoandabide by suchlaws,regulations, or executiveoradministrative orders.
(c) FailurebytheAuthoritytofurnishtheservicesprovidedaboveoranycessationthereofresultingfromcausesbeyondthecontroloftheAuthorityshallnotrendertheAuthorityliable fordamages toeither personorproperty, norbe construedasan eviction of theTenant,norworkanabatementofrent,norrelieve theTenantfromfulfillmentof anycovenant or agreementhereof.
9. RealPropertyTaxes.TheAuthorityshallpayallrealpropertytaxes,includingspecialassessments, ifany,whichmaybe leviedorassessedagainst thePremises.
10. Tenant'sEquipment,FixturesandAlterations.(a)TheTenantwillnotinstallorallowtobeinstalledinthePremisesanyelectricallyoperatedequipmentorothermachineryother thangeneraloffice,laboratoryandresearchequipmentor any equipmentwhichwillnecessitateany changes,replacements oradditionsto,orchanges inthe useof, the watersystem,heatingsystem, plumbingsystem,air-conditioningsystem, orelectricalsystem in thePremises withoutfirst obtainingthepriorwrittenconsent of theAuthority, whichconsentshall not be unreasonablywithheld. TheTenantshallbesolelyresponsibleforanyandallcostsassociated with theinstallation andmaintenance of suchequipment. TheTenant shallalso be solelyresponsible foranyandallcostsassociated withhigh speedtelecommunicationsaccessand usage within thesubleased premises. TheTenant acknowledges andacceptsa “buildingstandard” for telecommunicationsanddata(Internet)service providedby the Authority on thesubleasedpremises.TheTenantfurtheracknowledgesthattheyshallberesponsibleforanyandallcostsassociated with the possession of theseservicesbyanythird partysupplier orcarrier, includingthecost ofanyequipmentupgradesorchanges to the“buildingstandard”providedby the Authorityin thesubleasedpremises. Thesechangesmay,at the requirement ofthe supplier orcarrier,alsorequireconnection,access or otherfees inaddition toequipmentcostsand/or monthly servicefees to bepaidby the tenant for suchservice.The partiesacknowledgeandagreethatTenantshallhavetherighttoupgradeelectricalandtelephoneserviceintothePremises at its ownexpense,provided itreceivesthepriorwrittenconsent of theAuthority.
(b) TheTenantshallnotmakeorcausetobemadeanyinteriororexteriormodificationsoradditionstothePremiseswithoutthepriorwrittenconsentoftheAuthority.TheTenantshallpresenttotheAuthorityplansandspecificationsforsuchworkatthetimesuchconsent issought. Uponapproval of such plansandspecifications, theTenant shall employ acontractor acceptable to theAuthority to make suchimprovements. Suchimprovementsshall comply with therequirements ofallapplicable laws.
(c) TheTenantshallpayallcontractorsandmaterialmenpromptlytominimizethepossibilityofanylienbeingassertedagainstthePremises.Ifanysuchlienisasserted,theTenant shall take suchactionas maybe necessary to have suchlienresubleasedorbonded within thirty(30)daysafter the Tenantreceives notice thereof.
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(d) UpontheexpirationoftheTerm,theTenantshallremovealltradefixturesandfurnishingsinstalledbytheTenantandnotapartoftherealestateorofthefurnishings providedbytheAuthority,andTenantshallsurrenderthePremisesasprovidedhereinafter. TheTenant shallrepairalldamage to thePremisescausedby theinstallation or removalofanyfixtures or otherfurnishings. Alltradefixturesand furnishings which theTenanthas notremovedprior to thetermination orexpiration of thetermhereof shallbecome the property of theAuthority.
11. Insurance.(a)DuringtheTerm,theTenantshall,atitsexpense,insurethePremisesandallactivitiesconductedbytheTenantintheCenterunderageneralliabilityinsurancepolicy with acombinedpropertydamage, bodily injuryanddeath liability limit ofatleast$1,000,000.Such policy of insuranceshallnametheAuthorityandanyperson orentityhavinganinterest in theCenteranddesignated by the Authority as additionalinsuredpartiesand shallcontain a clause that theinsurer shall notcancelor change the terms of such insurance policy withoutfirstgiving the Authorityand such otherperson orentity ten (10)days'priorwrittennoticethereof. Such insurancepolicy shall beissuedbyan insurance companyratedA orhigher byBestand copiesthereof or the issuer'scertificate of insurance shall bedelivered by theTenant to the Authorityand to allotheradditionalinsuredparties.
(b) TheTenantshallnotdoorallowtobedoneinoraboutthePremisesanythingwhichisprohibitedunderanypolicyofinsurancecarriedbytheAuthorityinsuringagainstlossordamage by fireorotherhazards.TheTenantagreesthatifitsuseoroccupancyof thePremises causes thepremium for such fire or other insurancecarriedby the Authority tobehigher than the minimumpremiumapplicable for suchinsurance, theTenant shallpay thedifferencepromptly upondemandthereforby theAuthority.
(c) TheAuthorityagreestomaintain,atitsexpense,anappropriatefire,extendedcoverageandmaliciousmischiefinsurancepolicyontheCenter.TheTenantshallbefurnishedwithcopiesofall suchinsurancepoliciesorthe issuers'certificateofinsurance. TheTenantshall,atitsexpense,insure theTenant'sfurniture,furnishings,equipment,improvementsandtradefixtureslocated in thePremises,andcause itssubtenants toinsure theirfurniture,furnishings,equipment,improvementsandtradefixtureslocatedinthe Premises,underastandard fireandextendedcoverage insurance policy providing adequatecoverage toreplace suchproperty. TheTenantacknowledgesthattheAuthorityshallnotberesponsibleforcarryinginsurance ofanykind on theTenant'sfurniture, furnishings,equipment,improvements ortradefixturesandthattheAuthorityshall not beobligatedtorepairorreplacethesamein theevent of a fire or other casualtyaffecting thePremises.
12. BuildingRepairsandAlterations.TheAuthorityreservestherightatanytimetomakerepairsandreasonablealterationstotheCenter,otherthanthoserepairsnecessitatedbythenegligenceorwillfulmisconductoftheTenantoritssubtenants,andtoenterthePremisestotakeallnecessaryactiontomake suchrepairsandalterations.Suchentryshallnotbedeemedtoconstituteanevictionof theTenantortogive theTenant anyrighttoabatementofrentforloss orinterruptionofthebusinessoftheTenant;provided,however,the Authorityshalluseitsbestefforts to minimizeanyinterferencewith the business of theTenant.
13. Surrender.AttheexpirationorterminationofthetermofthisSublease,theTenantshallquitandsurrenderthePremisesandallAuthority-suppliedfurnishingsandequipmentingoodorderandcondition,ordinarywearanduseandcasualtyaccepted. TheTenant shallsurrender to the Authorityallkeys andelectronic identificationcards orpasses used inconnection with the Premises.
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14. Tenant'sProperty,etc.(a)AllpersonalpropertybelongingtotheTenant,locatedinoraboutthePremisesshallbethereatthesoleriskoftheTenant;andneithertheAuthoritynorAuthority'sagentshallbeliableforthetheftormisappropriationthereof,norforanydamageorinjury thereto,norfordamageorinjurytotheTenantoranyofitsofficers,agentsoremployees,ortootherpersonsortoanypropertycausedbyfire,explosion,water,gas,electricity,leaksfromtherooforotherportionsoftheBuilding,theburstingorleakingofpipes,plumbing,electricalwiringandequipmentandfixturesofanykind,or byanyactorneglectofotherTenantsoroccupantsoftheBuilding,orduetoanyothercausewhatsoever.
(b) TheTenantagreestonotifytheAuthorityimmediatelyofanyhazard,fireoraccidentinthePremisesorintheCenterandofanydefectsthereinorinanyofthefixturesorequipmentlocated therein.
(c) TheTenantshallberesponsibleforandshallpaywhendueallmunicipal,countyorstatetaxesassessedduringthetermofthisSubleaseagainstanyleaseholdinterestorpersonal property of any kind,ownedbyorplaced in the Premisesby theTenant.
15. DamageorDestruction.IfthePremisesaredamagedby fire,theelementsorbyaccident,butarenottherebyrendereduntenantable,theAuthorityshall,atitsexpense,causesuchdamagetoberepairedandtherentshallnotbeabated. Ifby reasonofsuchoccurrence,thePremisesarerendered untenantable inpart only, the Authority shall,atits expense,cause suchdamagetoberepaired,andtherentshall beabatedproportionatelytotheportionofthePremisesrendered untenantable until suchdamage isrepaired. If thePremisesarerendered whollyuntenantableby reasonof suchoccurrence, theAuthority shall,at itsexpense,causesuchdamage toberepaired, and the rent shall beabated in full until thePremiseshave beenrestoredandrenderedtenantable,unless within 60daysafter suchoccurrence, the Authoritygives theTenantwrittennotice that ithaselected not tocause suchdamage to berepaired, inwhichevent thisSubleaseand the tenancy herebycreated shallterminateas of the date of suchoccurrence,andtherentshallbeadjustedasofsuchdate. IftheAuthority electstorepairandrepairsarenotcompletedwithin 90 days,Tenantmayterminate thisSublease.
16. Legal andEnvironmentalCompliance.
(a) DuringtheTermincludingallrenewalsorextensionsthereto,theTenantagrees tocomplywithallapplicable environmentallaws(the"EnvironmentalLaws").
(b) TheAuthorityrepresentstotheTenantthat(i)ithasnotreceivedanynoticeofanyallegedviolationatthePremisesofanyEnvironmentalLaws;and(ii)tothebestoftheAuthority's knowledge, informationand belief withrespect to thePremisesand the Center, thereare noviolations of anyEnvironmentalLaws.
17. Default.(a)Thefollowingeventsshallconstitute adefault hereunder:
(i) TheTenantfailstopayanyrent,securitydeposit,additionalrentorotherchargetobepaidbytheTenanthereunderwithinfivedaysaftertheduedatetherefor.
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(ii) TheTenantfailstoperformanyofitsotherobligationsunderthisSubleaseformorethanthirty(30)daysafterwrittennoticeofsuchdefaultgivenbytheAuthoritytotheTenantunlessTenantshallprovideevidenceofcommencingcorrectivemeasures during suchperiodand shall then pursue them tocompletion within areasonable period oftime.
Upontheoccurrenceofadefault,inadditiontoallremediestheAuthoritymayhave at law orinequity,and theright to bereimbursedbytheTenant for allreasonableattorneys'feesandcourtcostsincurredbytheAuthorityasaresultofsuchdefault, theAuthority shallhave theimmediateright to re-enter thePremisesand removeall personsand propertytherefromand store such property in a publicwarehouse orelsewhereat thecostof,and for theaccountof, theTenant. TheAuthorityshallhavetheright to takesuchaction without serviceofnoticeorresort tolegalprocessandwithoutbeing deemedguilty oftrespass or becomingliable forany loss ordamagewhichmay beoccasionedthereby.If the Authorityelects to re-enter or to take possession ofthePremises, the Authoritymay, at itsoption,eitherterminate thisSublease, or withoutterminating thisSublease,re-sublease thePremises oranypartthereof, for the benefitof theTenant, for suchterm orterms(whether shorter or longer than theterm of thisSublease)andat suchrent orrentsand upon such othertermsandconditionsas theAuthority, in its solediscretion,deems advisable. No re-entry or taking possession of thePremisesby the Authority shallbeconstruedasanelection bytheAuthoritytoterminate thisSubleaseunlesswrittennotice ofsuchintention isgivenbythe Authorityto theTenant orthis Sublease isterminatedbyanorder or a decree of acourt of competent jurisdiction. Notwithstandingany such reletting withouttermination, the Authoritymayatanytimethereafterelect toterminate thisSublease for anypreviousdefaultbytheTenant in theperformance of the terms andconditions of thisSublease.
(b)Nore-entryortakingpossessionofthePremisesbytheAuthorityoranyotheractiontakenbytheAuthority,asaresultofanydefaultoftheTenant,shallrelievetheTenant ofanyofits liabilitiesandobligationsunderthisSublease whetherornot thePremisesare relet.
18. Access.Uponreasonablenotice,exceptinthecaseofemergency,theAuthorityshallhavetherighttoenterthePremisesatallreasonabletimestoexaminethePremisesand,duringthelast yearoftheterm, to showsuchproperty toprospectivetenants,mortgagees orpurchasers.
19. QuietEnjoyment.TheAuthoritycovenantsthattheTenantshallhavequietandpeacefulpossessionandenjoyment ofthe Premises forthe Term.
20. SpecialConditions.ThespecialtermsandconditionssetforthonExhibitD(EnvironmentalHealthandSafetyGuidelinesandPractices)heretoareherebyincorporatedintothisSubleasebyreference.
21. AssignmentandSubletting.TheTenantmaynotassignthisSubleaseorsubletthePremises withoutwrittenpermissionfrom the Authority.
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22. Successors.Subjecttotherestrictionsonassignmentandsublettingsetforthabove,thisSubleaseandthetermshereofshallbebindinguponandinuretothebenefitoftheAuthorityand its respective successorsand assigns.
23. AuthorityofParties;Title;Zoning.TheAuthority andtheTenanteachwarranttotheotherthatthepersonorpersonsexecutingthisSubleaseonbehalfoftheAuthorityortheTenant,asthecasemaybe,has authoritytodosoandfullyobligatetheAuthorityortheTenant,asthecasemay be,toalltermsandprovisionsofthisSublease.IftheAuthorityortheTenantis acorporation,eachwarrantsthatithaslegalauthoritytooperateandisauthorizedtodobusiness in thestatein which thePremisesare situated.
24. Non-Waiver.ThefailureoftheAuthorityortheTenanttoinsistuponthestrictperformanceofanyofthetermshereofshallnotconstituteorbeconstruedasawaiverorrelinquishmentforthefutureofany suchterms,andsuchtermsshallcontinueinfullforceandeffect.Thepayment ofrentby theTenant or thereceipt ofrentby theAuthority, withknowledge of the breach ofany termherein contained, shall not be deemed awaiver of suchbreach.
25. Notices.AllnoticesfromtheTenanttotheAuthorityrequiredorpermittedbyanyprovisionofthisSubleaseshallbeinwritingandeffectivewhendeliveredoruponseconddayafter beingsentbyregistered orcertified mailandaddressedasfollows oruponreceipt whendeliveredbyovernightcourier ortelecopy:
VirginiaBiotechnologyResearch Partnership Authority
800EastLeighStreet
Richmond,Virginia23219
AllnoticesfromtheAuthoritytotheTenantsorequiredorpermittedshallbeinwritingandeffectivewhendeliveredorupontheseconddayafterbeingsentbyregisteredorcertifiedmailandaddressedas follows:
AmpliPhi Biosciences Corporation(Subtenant)
VirginiaBiotechnologyResearch Park
800 E.Leigh Street
Richmond, VA23219
Eitherpartymay,atanytime,designateinwritingasubstituteaddressfortheaddresssetforthabove,andthereafter notices shall bedirected to such substituteaddress.
26. Memorandum.Eachofthepartiesagreesthat,upontherequestoftheother,itwillexecuteanddeliverinrecordableformamemorandumofthisSublease.Thepartywhorecords such memorandum shall pay therecordingcosttherefor.
27. Titles.ThetitlesandparagraphheadingsusedhereinareforpurposesofconvenienceonlyandshallnotbeconstruedtolimitorextendthemeaningofanypartofthisSublease.
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28. ApplicableLaw. ThisSubleaseshallbegovernedbyandconstruedinaccordancewith the lawsof theCommonwealth ofVirginia.
29. ForceMajeure.Ifbyreason ofacts ofGod,strikes, lockouts orother industrialdisturbances;acts of publicenemies; orders ofanykind of the governmentoftheUnitedStatesortheCommonwealth ofVirginia,or anycivil ormilitaryauthority; insurrections;riots;epidemics;landslides;lightning;earthquakes; fires;hurricanes;tornadoes; blizzards, orotherstorms; floods,washouts;droughts;arrests;restraint ofgovernment and people;civildisturbances; explosions;breakageoraccident tomachinery; partial orentirefailureof utilities;oranycauseorevent not reasonablywithin the control of theAuthority, theAuthorityis unablein whole orinpart to carryout itsagreements containedin thisSublease, the Authorityshall notbe deemed inDefault duringthecontinuanceof suchinability.
29. EntireAgreement.ThisSubleasecontainstheentireagreementbetweentheAuthorityand theTenantrelatingto thePremisesandsupersedesall negotiations,understandingsandagreements,writtenororal,betweentheparties.ThisSubleaseshallnotbeamendedormodified,and nowaiver ofanyprovisionhereof shall beeffective, unlesssetforth in awritteninstrumentsignedby theAuthority and theTenant.
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WITNESSthefollowingsignatures:
VIRGINIA BIOTECHNOLOGY RESEARCH PARTNERSHIP AUTHORITY | ||
By: | ||
Carrie C. Roth | ||
Executive Director | ||
Date:April 17, 2015 | ||
SUBTENANT | ||
By: | /s/ Baxter Phillips, III | |
Its: Baxter Phillips, III Chief Business Officer | ||
Date: April 17, 2015 |
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EXHIBIT A
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EXHIBIT B
SERVICESANDSUPPORT
SERVICESWHERE SEPARATECHARGESAPPLY:
Telecommunicationscapabilities,Ethernetaccess,modemcompatibility, telephoneservice andequipment will beat tenant’s expense.
OWNER’SRIGHTS
TheVirginiaBiotechnologyResearchPartnershipandVCUreservetherighttopromulgateandamendalistofreasonablerules,regulations,procedures,andschedulesfor theuseofallcommonandsharedfacilitiesandequipmentandtoinsurefairapportionmentoftheamenitiesamong the usersand tominimize operating costs exposure toliability.
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