EXHIBIT 10.27
EQUIPMENT SCHEDULE
(Quasi Lease - Fixed Rate)
SCHEDULE NO. 005
DATED THIS NOV 28, 2001
TO MASTER LEASE AGREEMENT
DATED AS OF MAY 10, 2001
LESSOR & MAILING ADDRESS: LESSEE & MAILING ADDRESS:
GENERAL ELECTRIC CAPITAL CORPORATION VARIAGENICS, INC.
▇▇▇ ▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇ ▇▇ 60 HAMPHIRE STREET
NORWALK, CT 06851-1177 ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
This Schedule is executed pursuant to, and incorporates by reference the terms
and conditions of, and capitalized terms not defined herein shall have the
meanings assigned to them in, the Master Lease Agreement identified above
("AGREEMENT", said Agreement and this Schedule being collectively referred to as
"LEASE"). This Schedule, incorporating by reference the AGREEMENT, constitutes a
separate instrument of lease.
A. EQUIPMENT: Subject to the terms and conditions of the Lease, Lessor agrees
to lease to Lessee the Equipment described below (the "EQUIPMENT").
NUMBER CAPITALIZED
OF UNITS LESSOR'S COST MANUFACTURER SERIAL NUMBERS YEAR/MODEL AND TYPE OF EQUIPMENT
---------------------------------------------------------------------------------------------------------------------------------
"SEE EXHIBIT A ATTACHED HERETO AND MADE A PART HEREOF"
B. FINANCIAL TERMS
1. Advance Rent (if any): $ 9,883.11. 6. Lessee Federal Tax ID No.: ▇▇▇▇▇▇▇▇▇.
2. Capitalized Lessor's Cost: $ 412,851.25. 7. Last Delivery Date: 11/28/01.
3. Basic Term (No. of Months): 48 Months. 8. Daily Lease Rate Factor: .08.
4. Basic Term Lease Rate Factor: 2.393867. 9. Interest Rate: 7.2970% per annum.
5. Basic Term Commencement Date: DEC 1, 2001. 10. Option Payment: $ $1.00
11. First Termination Date: N/A (_____) months after the Basic Term
Commencement Date.
12. Interim Rent: For the period from and including the Lease Commencement Date
to the Basic Term Commencement Date ("INTERIM PERIOD"), Lessee shall pay as
rent ("INTERIM RENT") for each unit of Equipment, the product of the Daily
Lease Rate Factor times the Capitalized Lessor's Cost of such unit times
the number of days in the Interim Period. Interim Rent shall be due on
DEC 1, 2001.
13. Basic Term Rent. Commencing on DEC 1, 2001 and on the same day of
each month thereafter (each, a "RENT PAYMENT DATE") during the Basic Term,
Lessee shall pay as rent ("BASIC TERM RENT") the product of the Basic Term
Lease Rate Factor times the Capitalized Lessor's Cost of all Equipment on
this Schedule.
14. Lessee agrees and acknowledges that the Capitalized Lessor's Cost of the
Equipment as stated on the Schedule is equal to the fair market value of
the Equipment on the date hereof.
C. INTEREST RATE: Interest shall accrue from the Lease Commencement Date
through and including the date of termination of the Lease.
D. PROPERTY TAX
PROPERTY TAX NOT APPLICABLE ON EQUIPMENT LOCATED IN CAMBRIDGE, MA.
Lessor may notify Lessee (and Lessee agrees to follow such notification)
regarding any changes in property tax reporting and payment
responsibilities.
E. ARTICLE 2A NOTICE
IN ACCORDANCE WITH THE REQUIREMENTS OF ARTICLE 2A OF THE UNIFORM COMMERCIAL
CODE AS ADOPTED IN THE APPLICABLE STATE, LESSOR HEREBY MAKES THE FOLLOWING
DISCLOSURES TO LESSEE PRIOR TO EXECUTION OF THE LEASE, (A) THE PERSON(S)
SUPPLYING THE EQUIPMENT IS "SEE EXHIBIT A ATTACHED HERETO AND MADE A PART
HEREOF" FOR SUPPLIERS' NAMES (THE "SUPPLIER(S)"), (B) LESSEE IS ENTITLED TO
THE PROMISES AND WARRANTIES, INCLUDING THOSE OF ANY THIRD PARTY, PROVIDED
TO THE LESSOR BY SUPPLIER(S), WHICH IS SUPPLYING THE EQUIPMENT IN
CONNECTION WITH OR AS PART OF THE CONTRACT BY WHICH LESSOR ACQUIRED THE
EQUIPMENT AND (C) WITH RESPECT TO SUCH EQUIPMENT, LESSEE MAY COMMUNICATE
WITH SUPPLIER(S) AND RECEIVE AN ACCURATE AND COMPLETE STATEMENT OF SUCH
PROMISES AND WARRANTIES, INCLUDING ANY DISCLAIMERS AND LIMITATIONS OF THEM
OR OF REMEDIES. TO THE EXTENT PERMITTED BY APPLICABLE LAW, LESSEE HEREBY
WAIVES ANY AND ALL RIGHTS AND REMEDIES CONFERRED UPON A LESSEE IN ARTICLE
2A AND ANY RIGHTS NOW OR HEREAFTER CONFERRED BY STATUTE OR OTHERWISE WHICH
MAY LIMIT OR MODIFY ANY OF LESSOR'S RIGHTS OR REMEDIES UNDER THE DEFAULT
AND REMEDIES SECTION OF THE AGREEMENT.
F. STIPULATED LOSS AND TERMINATION VALUE TABLE*
Termination Stipulated Termination Stipulated
Value Loss Value Value Loss Value
Rental Percentage Percentage Rental Percentage Percentage
Basic
1 100.606 104.578 25 54.237 56.739
2 98.806 102.716 26 52.155 54.596
3 96.995 100.843 27 50.060 52.440
4 95.172 98.960 28 47.952 50.271
5 93.339 97.065 29 45.832 48.089
6 91.494 95.160 30 43.698 45.894
7 89.639 93.243 31 41.552 43.687
8 87.772 91.314 32 39.393 41.466
9 85.893 89.375 33 37.220 39.232
10 84.003 87.424 34 35.034 36.985
11 82.102 85.461 35 32.835 34.725
12 80.189 83.487 36 30.623 32.451
13 78.265 81.501 37 28.397 30.164
14 76.328 79.504 38 26.157 27.863
15 74.381 77.495 39 23.904 25.549
16 72.421 75.474 40 21.638 23.221
17 70.449 73.441 41 19.357 20.879
18 68.465 71.396 42 17.063 18.524
19 66.469 69.339 43 14.754 16.154
20 64.462 67.270 44 12.432 13.771
21 62.441 65.188 45 10.095 11.373
22 60.409 63.095 46 7.745 8.961
23 58.364 60.989 47 5.380 6.535
24 56.307 58.870 48 3.000 4.094
*The Stipulated Loss Value or Termination Value for any unit of Equipment
shall be the Capitalized Lessor's Cost of such unit multiplied by the
appropriate percentage derived from the above table. In the event that the
Lease is for any reason extended, then the last percentage figure shown
above shall control throughout any such extended term.
G. PAYMENT AUTHORIZATION
You are hereby irrevocably authorized and directed to deliver and apply the
proceeds due under this Schedule as follows:
COMPANY NAME ADDRESS AMOUNT
-------------------------------------------------------------------------------------------------
Variagenics, Inc. ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇., ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ $402,968.14
GECC Advanced Rental 9,883.11
Total Disbursement $412,851.25
This authorization and direction is given pursuant to the same authority
authorizing the above-mentioned financing.
PURSUANT TO THE PROVISIONS OF THE LEASE, AS IT RELATES TO THIS SCHEDULE, LESSEE
HEREBY CERTIFIES AND WARRANTS THAT (I) ALL EQUIPMENT LISTED ABOVE IS IN GOOD
CONDITION AND APPEARANCE, HAS BEEN DELIVERED AND INSTALLED (IF APPLICABLE) AS OF
THE DATE STATED ABOVE AND IN WORKING ORDER; (II) LESSEE HAS INSPECTED THE
EQUIPMENT, AND ALL SUCH TESTING AS IT DEEMS NECESSARY HAS BEEN PERFORMED BY
LESSEE, SUPPLIER OR THE MANUFACTURER; AND (III) LESSEE ACCEPTS THE EQUIPMENT FOR
ALL PURPOSES OF THE LEASE AND ALL ATTENDANT DOCUMENTS.
LESSEE DOES FURTHER CERTIFY THAT AS OF THE DATE HEREOF (I) LESSEE IS NOT IN
DEFAULT UNDER THE LEASE; AND (II) THE REPRESENTATIONS AND WARRANTIES MADE BY
LESSEE PURSUANT TO OR UNDER THE LEASE ARE TRUE AND CORRECT ON THE DATE HEREOF.
Lessee hereby authorizes Lessor to file a financing statement and
amendments thereto describing the Equipment described in this Schedule and
adding any other collateral described herein and containing any other
information required by the applicable Uniform Commercial Code. Further, Lessee
irrevocably grants to Lessor the power to sign Lessee's name and generally to
act on behalf of Lessee to execute and file financing statements and other
documents pertaining to any or all of the Equipment.
Except as expressly modified hereby, all terms and provisions of the
Agreement shall remain in full force and effect. This Schedule is not binding or
effective with respect to the Agreement or Equipment until executed on behalf of
Lessor and Lessee by authorized representatives of Lessor and Lessee,
respectively.
IN WITNESS WHEREOF, Lessee and Lessor have caused this Schedule to be
executed by their duly authorized representatives as of the date first above
written.
LESSOR: LESSEE:
GENERAL ELECTRIC CAPITAL CORPORATION VARIAGENICS, INC.
By: /s/ ▇▇▇▇ ▇▇▇▇ By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
--------------------------- ----------------------
Name: ▇▇▇▇ ▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
--------------------------- -----------------------
Title: SVP Title: Chief Financial Officer
--------------------------- -----------------------
EXHIBIT A
4116820-005
COMPANY NAME VARIAGENICS, INC.
EQUIPMENT LOCATION: ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇
▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Equip Unit Ext.
Item# Supplier Code Description QTY Serial # Price Price
------------------------------------------------------------------------------------------------------------------------------------
1 VWR Lab Allegra 6 non-refrigerated centrifuge 2 ALS01C31 4,224.00 8,448.00
ALS01B02
Lab GH-3.8 Horizontal Rotor 2 2,362.80 4,725.60
Lab GH-3.8 Horizontal Rotor 2 2,362.80 4,725.60
Lab Allegra 6 non-refrigerated centrifuge 2 4,224.00 8,448.00
Lab TB ADPT F/GH3.7/8 PK-4 1 303.60 303.60
Lab Carrier assy, Microplus pk2 4 1,091.20 4,364.80
Lab Univac3, Dual Stag Vac Manfld 1 1,155.00 1,155.00
Lab Flask, Filtering 1 53.19 53.19
Lab GH-3.8 Horizontal Rotor 1 2,362.80 2,362.80
Lab TB ADPT F/GH3.7/8 PK-4 1 303.60 303.60
Lab Allegra 6 non-refrigerated centrifuge 1 4,224.00 4,224.00
Lab Carrier assy, Microplus pk2 1 1,091.20 1,091.20
Lab Allegra 6 non-refrigerated centrifuge 2 4,224.00 8,448.00
Lab FRZR UPRT Val 17.2ft 1 5,235.00 5,235.00
2 CDW Comp HP Procurve Switch 1 SSG11160193 1,725.00 1,725.00
Comp HP Procurve Switch 1 SG10901138 1,687.89 1,687.89
Comp ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ ▇ ▇▇▇▇▇▇▇/▇▇, 429.66 2,148.30
1PJ411A, 3C905B-YX-NM,
3C905C-TX-M
52L77586
Comp AESP CAT5 Patch Mold Snag Blue 5 10.47 52.35
Comp NEC Accusync 70 17in 4 S1336924YE, 189.95 759.80
S1336931YE,
S1336935YE,
S1336937YE
Comp IBM 17in E74 Monitor 4 S55ZLX54, 239.26 957.04
S55ZLY60,
S55ZLY76,
S55ZLY90
Comp SYM Norton Utilities Mac V6.0 1 95.63 95.63
Frt Shipping & Handling 1 149.85 149.85
Comp Avocent Outlook 1 860.00 860.00
Comp IBM 17in E74 Monitor 1 S55ZNC90 239.26 239.26
Frt Shipping & Handling 1 29.06 29.06
Comp Apple IMAC G3/400 10 YM110BM3KLX, 893.99 8,939.90
YM1109ULKLX,
YM122ALGKLX,
YM122AMHKLX,
YM122AMJKLX,
YM122AMKKLX,
YM122AMHKLX,
YM122AMQKLX,
YM122AMRKLX,
YM123967KLX
Comp Kingston 128MB Apple IMAC 10 57.00 570.00
Frt Shipping & Handling 1 210.79 210.79
Comp Apple IMAC G3/400 1 SYM1172PBKLX 893.99 893.99
Comp Kingston 128MB Apple IMAC 1 89.99 89.99
Frt Shipping & Handling 1 20.99 20.99
Comp Apple MAC Srvr 1 889.91 889.91
Comp Apple IMAC G3/400 3 YM1154MEKLX, 893.99 2,681.97
YM1154RDKLX,
YM1154RTKLX
Comp Kingston 256MB Apple IMAC 3 89.99 269.97
Comp HP LJ 8000 DuPlex 1 LFN0408819 449.82 449.82
Frt Shipping & Handling 1 83.25 83.25
Soft Epartners Software Licenses 1 1,378.22 1,378.22
3 MicroWarehouse Comp Lap Top 570E P3/450 1 S78BC471 1,599.00 1,599.00
Comp Mem Puser Dimm 64MB 1 79.95 79.95
Comp Realport Ethernet 1 109.00 109.00
Comp CPU CPQ Deskpro Ex 1 6B0BFR73D07Z 509.00 509.00
Comp IBM Ultrabase for Thinkpad 570 1 115.00 115.00
Soft CD-ROM IBM Thinkpad 570 1 139.00 139.00
Frt Shipping & Handling 1 52.35 52.35
Comp ▇▇▇▇▇ ▇▇▇ ▇▇ ▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇▇▇▇▇ 1,284.00 2,568.00
Comp Free 128MB PC100 w/power Mac 2 150.00 300.00
Comp MAC Install Hardware 2 29.00 58.00
Frt Shipping & Handling 1 62.69 62.69
Invoice Vendor
Item# Total Total PO # Invoice # Inv Date Ck # Ck Amt
------------------------------------------------------------------------------------------------------------------
1 7348 7408862 5/14/01 13754 19,579.51
$13,173.60
$4,725.60 7437 7622956 6/6/01 14064 45,160.64
7437 7568083 5/31/01 14064 45,160.64
$8,751.60
$4,364.80 7437 7568110 5/31/01 14064 45,160.64
7453 7708263 6/14/01 14064 45,160.64
$1,208.19
7583 7826403 6/26/01 14185 20,684.07
$2,666.40
7583 7826402 6/25/01 14184 20,684.07
$5,315.20
$8,448.00 7437 7771673 6/20/01 14185 20,684.07
$5,235.00 $53,888.39 7584 7950337 7/10/01 14372 10,608.47
2 $1,725.00 7236 DQ91760 4/27/01 13544 2,388.18
7332 DS50893 5/9/01 13622 7,073.11
$5,850.86
7449 DW25364 6/6/01 13942 2,624.93
$1,128.32
7755 ED94061 7/30/01 14467 17,996.87
$9,720.69
7677 EB71941 7/13/01 14467 17,996.87
$1,004.97
7677 EB58571 7/12/01 14467 17,996.87
$4,374.92
$1,378.22 $25,182.98 7733 ED22496 7/24/01 14467 17,996.87
3 6715 p58359920001 1/3/01 12477 3,544.29
$2,603.30
7338 p67857770001 5/11/01 13648 2,988.69
$2,988.69 $5,591.99
4 ▇▇▇▇▇▇▇▇ Company Lab Microlab MPH-96 System 1 ML41BC2185 63,000.00 63,000.00
Lab Microlab MPH-96 System 1 ML41BF2197 63,000.00 63,000.00
Frt Freight 1 497.77 497.77
5 PC Connection Comp HP Laser Jet 1 SUSBGB10444 1,129.00 1,129.00
Comp PowerMac G4/G3 2 79.95 159.90
Frt Freight 1 29.45 29.45
Tax Sales Tax 1 64.45 64.45
6 Agilent Technologies Lab 2100 Bioanalyzer System 1 DE11400679 21,000.00 21,000.00
Lab ▇▇▇ ▇▇▇▇ LabChip Kit 1 399.00 399.00
7 MWG Biotech Lab Primus 96 Lega 8 015.0701.1299, 6,298.50 50,388.00
015.0701.1303,
015.0701.1306,
015.0701.1309,
015.0701.1310,
015.0701.1311,
015.2000.951,
015.2700.1019
Lab Primus Card 2 169.15 338.30
Frt Shipping & Handling 1 400.00 400.00
8 Dell Comp Dell PowerEdge 1550 1 9VL4R01 5,053.00 5,053.00
Frt Shipping & Handling 1 145.00 145.00
Tax Tax 1 259.90 259.90
Comp Solomon Server - PowerEdge 350 1 1LMX001 3,470.00 3,470.00
Frt Shipping & Handling 1 77.00 77.00
Tax Tax 1 177.35 177.35
9 Bruker Lab Digitizer LSA1000-14 1 17,500.00 17,500.00
10 Image Technology Ofc KM - 6230 Copier 2 37005351 14,800.00 29,600.00
37003826
Tax Tax 1 1,480.00 1,480.00
11 Laboratory Systems TI Oak Lab Casework & 2 Fume Hoods 1 21,700.00 21,700.00
TI Installation 1 5,155.00 5,155.00
Tax Sales Tax 1 1,085.00 1,085.00
12 SideBand Systems Comp Used, Proxim Strtum 100 Microwave Bridges 2 15398,15418, 29,000.00
15809, 15807 14,500.00
Tax Sales Tax 1 1,450.00 1,450.00
13 Optical Analysis Corp. Lab PLAN APO 1.25X Objective 1 1,378.00 1,378.00
Frt Freight 1 8.31 8.31
14 Penguin Computing Comp Relion 100 E Server 4 P0131012, 1,333.00 5,332.00
P0131034,
P0131035,
P0131036
Frt Shipping & Handling 1 384.03 384.03
Comp Relion 100 E Server 2 P0131012, 1,055.00 2,110.00
P0131013
Frt Shipping & Handling 1 151.97 151.97
15 Tomtec, Inc Lab Ultrasonic Tip Wash System 1 2,250.00 2,250.00
Frt Shipping & Handling 1 15.46 15.46
FUNDING TOTAL:
4 $63,000.00 7171 640421 4/20/01 13605 63,361.58
7582 651187 7/12/01 14342 65,696.73
$63,497.77 $126,497.77
5 7239 31426457 4/24/01 13573 1,382.80
$1,382.80 $1,382.80
6 $21,000.00 7253 100347356 4/26/01 13612 21,399.00
$399.00 $21,399.00 7253 100347360 4/26/01 13612 21,399.00
7 7353 I0034178 5/19/01 13876 51,126.30
$51,126.30 $51,126.30
8 7717 612539338 7/24/01 14584 5,457.90
$5,457.90
612537829 7/20/01 14474 3,724.35
$3,724.35 $9,182.25
9 $17,500.00 $17,500.00 7463 3346 7/31/01 14466 17,500.00
10 7768 12635A 8/7/01 14484 31,080.00
$31,080.00 $31,080.00
11 7410 1736 8/2/01 14696 27,940.00
$27,940.00 $27,940.00
12
7886 3410 8/30/01 14741 30,450.00
$30,450.00 $30,450.00
13 7812 0212343-IN 8/13/01 14718 1,386.31
$1,386.31 $1,386.31
14 7704 90009084 8/6/01 14722 7,978.00
$5,716.03
7704 9009041 8/2/01 14722 7,978.00
$2,261.97 $7,978.00
15 7860 11470 8/17/01 14753 2,265.46
$2,265.46 $2,265.46
FUNDING TOTAL $412,851.25 $412,851.25
VARIAGENICS, INC.
By: /s/ RPS
--------
Title: CFO
---
EQUIPMENT TOTAL FOR
CODE CATEGORY % of TOTAL
--------- ----------- ----------
LAB $273,141.69 66%
FURN $0.00 0%
OFC $29,600.00 7%
TI $26,855.00 7%
COMP $74,902.67 18%
SOFT $1,517.22 0%
TAX $4,516.70 1%
FRT $2,317.97 1%
TOTAL 412,851.25 100%
ANNEX B
▇▇▇▇ OF SALE
FOR FOUR HUNDRED TWELVE THOUSAND EIGHT HUNDRED FIFTY-ONE AND--25/00
($412,851.25) AND OTHER VALUABLE CONSIDERATION, the receipt and sufficiency of
which are hereby acknowledged, VARIAGENICS, INC. (the "Seller") does hereby
sell, transfer and deliver to GENERAL ELECTRIC CAPITAL CORPORATION (the
"Buyer"), its successors and assigns, all of Seller's right, title and interest
in and to the following equipment (the "Equipment"):
SEE EXHIBIT A ATTACHED HERETO AND MADE A PART HEREOF
TO HAVE AND TO HOLD the same unto the Buyer, its successors and assigns,
forever.
THE SELLER WARRANTS AND REPRESENTS THAT IT OWNS (AND HAS GOOD AND
MARKETABLE TITLE TO) THE EQUIPMENT FREE AND CLEAR OF ALL LIENS AND ENCUMBRANCES,
AND HAS FULL POWER, RIGHT AND AUTHORITY TO CONVEY TITLE THERETO TO THE BUYER.
THE FOREGOING WARRANTY OF TITLE SHALL INURE TO THE BENEFIT OF ANY PURCHASER OF
THE EQUIPMENT FROM THE BUYER AND TO GENERAL ELECTRIC CAPITAL CORPORATION WHICH
IS FINANCING THE PURCHASE OF THE EQUIPMENT BY THE BUYER.
Except for the foregoing warranty of title, the Equipment is sold, "AS-IS",
"WHERE-IS", without warranty of merchantability or fitness.
IN WITNESS WHEREOF, the Seller has caused this ▇▇▇▇ of Sale to be executed
by a duly authorized officer this ___ day of __ __, _______
VARIAGENICS, INC.
-----------------
(Seller)
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
--------------------
Title: Chief Financial Officer
-----------------------
