SECOND AMENDMENT TO OFFICE LEASE AGREEMENT
Exhibit 10.19
SECOND AMENDMENT TO OFFICE LEASE AGREEMENT
THIS SECOND AMENDMENT TO OFFICE LEASE AGREEMENT (this “Amendment”) is made effective as of October 4, 2022 (the “Effective Date”), by and between BSP XXXXXX 8000 XXXXXX, LLC, a Delaware limited liability company (“Landlord”), and RAIN THERAPEUTICS INC., a Delaware corporation (“Tenant”).
RECITALS
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant agree that the Lease is amended as follows:
or this Amendment to the “Premises” shall be deemed to include the Expansion Premises, and, together with the Original Premises (collectively referred to herein as the “Premises”) shall consist of a total of approximately 7,737 rentable square feet. The Expansion Premises Commencement Date shall be confirmed in a notice (the “Notice of Terms”) which Notice of Terms shall be prepared by Landlord and confirmed by Tenant within a reasonable time after the Expansion Premises Commencement Date occurs. Notwithstanding anything set forth herein to the contrary, this Amendment is entirely subject to and entirely contingent upon Nexient, LLC, a Delaware limited liability company (“Nexient”) vacating, surrendering and releasing the Expansion Premises to Landlord on September 30, 2022 (the expiration day as set forth in Nexient’s lease). Any delay due to Xxxxxxx’s failure to deliver the Expansion Premises on or before September 30, 2022 shall not subject Landlord to any liability nor shall the validity of this Amendment nor the obligations of Tenant hereunder be affected, provided, however, the Expansion Premises Commencement Date shall be delayed until such time as Nexient delivers the Expansion Premises as required hereunder.
Scheduled Dates | Monthly Base Rent for the Premises | Monthly Rental Rate Per Square Foot |
Expansion Premises Commencement Date – January 31, 2023 | $27,930.57 | $3.61 |
February 1, 2023 – September 30, 2024 | $28,704.27 | $3.71 |
Scheduled Dates | Monthly Amortized Tenant Improvement Costs |
Expansion Premises Commencement Date – January 31, 2023 | $7,126.31 |
February 1, 2023 – September 30, 2024 | $7,126.31 |
“Rentable Area of the Building: Approximately 50,136 rentable square feet.”
“Tenant’s Share: 15.43% (7,737/50,136)”
including the Temporary Space as required under Section 11.1 of the Original Lease. The Temporary Space shall be made available to Tenant in its “AS IS” condition and Landlord shall Section 7(c) have no obligation to construct leasehold improvements for Tenant or to repair or refurbish the Temporary Space or perform any other work in the Temporary Space. Landlord agrees that Tenant shall not be required to pay Base Rent for the Temporary Space, however Tenant shall be obligated to pay Tenant’s Share of Operating Costs and Taxes (estimated at $1.00 per month times the rentable square footage of the Temporary Space) for the Temporary Space and any separately metered utilities. Provided, further, for any time periods following the expiration of the Move-Out Period (as defined below), Tenant shall be additionally responsible to pay monthly Base Rent for the Temporary Space, which rent shall be equal to $715.00 per day (the “Temporary Space Rent”), for the period commencing upon the expiration of the Move-Out Period and extending to the date Tenant vacates the Temporary Space in accordance with the terms hereof. Excepting the payment of Base Rent for the Temporary Space (other than Temporary Space Rent following the Move-Out Period, if applicable) all other terms and conditions of this Lease shall apply to Tenant’s use of the Temporary Space. Tenant shall surrender the Temporary Space to Landlord in broom clean condition, free of all of Tenant’s personal property and otherwise in substantially the same condition the Temporary Space was delivered to Tenant no later than five (5) days after the date the Expansion Premises are Ready for Occupancy (such 5-day period, the “Move-Out Period”). Tenant’s failure to surrender the Temporary Space following the expiration of the Move-Out Period shall be an Event of Default under this Lease and Landlord shall be entitled to all rights and remedies available at law or in equity with respect thereto.
“Security Deposit:$109,939.79”
for the corporation or partnership represents that he or she is duly authorized to execute and deliver this Amendment for the corporation or partnership and that this Amendment is binding upon the corporation or partnership in accordance with its terms.
(SIGNATURES ON NEXT PAGE)
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.
LANDLORD:
BSP XXXXXX 8000 XXXXXX, LLC,
a Delaware limited liability company
By:BSP Xxxxxx Realty Investors, LLC,
a Delaware limited liability company the Sole Member
By:BSP Xxxxxx Manager, LLC,
a Delaware limited liability company its Manager
By: /s/ Xxxx X. Xxxx
Name: Xxxx X. Xxxx
Title:Vice President
TENANT:
RAIN THERAPEUTICS INC.,
a Delaware corporation
By:/s/ Xxxxxxx Xxxxxxxx
Name:Xxxxxxx Xxxxxxxx
Title:CEO
Approved: /s/ Xxxxxx Xxxxxxxx
Xxxxxx Xxxxxxxx, SVP