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Title:

Lease

Entities:

Fedders Corp.

Date:

2007

Size:

Preview shows 54KB of 249KB total

Price:

$65

ID:

#2751698

 

 

► Leasing ► Lease Agreements
► Capital Goods

 

 

Start of Preview


LEASE
BETWEEN
METROPOLITAN LIFE INSURANCE COMPANY (LANDLORD)
AND
GENOMIC HEALTH, INC. (TENANT)
SEAPORT CENTRE
Redwood City, California

 


 

TABLE OF CONTENTS
         
 
  PAGE
ARTICLE ONE BASIC LEASE PROVISIONS
    1  
1.01 BASIC LEASE PROVISIONS
    1  
1.02 ENUMERATION OF EXHIBITS & RIDER(S)
    2  
1.03 DEFINITIONS
    2  
 
       
ARTICLE TWO PREMISES, TERM, FAILURE TO GIVE POSSESSION, COMMON AREAS AND PARKING
    6  
2.01 LEASE OF PREMISES
    6  
2.02 TERM
    6  
2.03 FAILURE TO GIVE POSSESSION
    6  
2.04 AREA OF PREMISES
    6  
2.05 CONDITION OF PREMISES
    6  
2.06 COMMON AREAS & PARKING
    6  
 
       
ARTICLE THREE RENT
    6  
 
       
ARTICLE FOUR OPERATING EXPENSES RENT ADJUSTMENTS AND PAYMENTS
    7  
4.01 TENANTS SHARE OF OPERATING EXPENSES
    7  
4.02 RENT ADJUSTMENTS
    7  
4.03 STATEMENT OF LANDLORD
    8  
4.04 BOOKS AND RECORDS
    8  
4.05 TENANT OR LEASE SPECIFIC TAXES
    8  
 
       
ARTICLE FIVE SECURITY
    8  
 
       
ARTICLE SIX-UTILITIES & SERVICES
    10  
6.01 LANDLORDS GENERAL SERVICES
    10  
6.02 TENANT TO OBTAIN & PAY DIRECTLY
    10  
6.03 TELEPHONE SERVICES
    10  
6.04 FAILURE OR INTERRUPTION OF UTILITY OR SERVICE
    10  
6.05 INTENTIONALLY OMITTED
    10  
6.06 SIGNAGE
    11  
 
       
ARTICLE SEVEN POSSESSION, USE AND CONDITION OF PREMISES
    11  
7.01 POSSESSION AND USE OF PREMISES
    11  
7.02 HAZARDOUS MATERIAL
    11  
7.03 LANDLORD ACCESS TO PREMISES; APPROVALS
    13  
7.04 QUIET ENJOYMENT
    13  
 
       
ARTICLE EIGHT MAINTENANCE & HVAC
    13  
8.01 LANDLORDS MAINTENANCE
    13  
8.02 TENANTS MAINTENANCE
    13  
 
       
ARTICLE NINE ALTERATIONS AND IMPROVEMENTS
    14  
9.01 TENANT ALTERATIONS
    14  
9.02 LIENS
    15  
 
       
ARTICLE TEN ASSIGNMENT AND SUBLETTING
    15  
10.01 ASSIGNMENT AND SUBLETTING
    15  
10.02 RECAPTURE
    17  
10.03 EXCESS RENT
    17  
10.04 TENANT LIABILITY
    17  
10.05 ASSUMPTION AND ATTORNMENT
    17  
 
       
ARTICLE ELEVEN DEFAULT AND REMEDIES
    17  
11.01 EVENTS OF DEFAULT
    17  
11.02 LANDLORDS REMEDIES
    18  
11.03 ATTORNEYS FEES
    19  
11.04 BANKRUPTCY
    19  
11.05 LANDLORDS DEFAULT
    20  
 
       
ARTICLE TWELVE SURRENDER OF PREMISES
    20  
12.01 IN GENERAL
    20  
12.02 LANDLORDS RIGHTS
    20  
 
       
ARTICLE THIRTEEN HOLDING OVER
    20  
 
       
ARTICLE FOURTEEN DAMAGE BY FIRE OR OTHER CASUALTY
    21  
14.01 SUBSTANTIAL UNTENANTABILITY
    21  

i


 

         
 
  PAGE
14.02 INSUBSTANTIAL UNTENANTABILITY
    21  
14.03 RENT ABATEMENT
    21  
14.04 WAIVER OF STATUTORY REMEDIES
    22  
 
       
ARTICLE FIFTEEN EMINENT DOMAIN
    22  
15.01 TAKING OF WHOLE OR SUBSTANTIAL PART
    22  
15.02 TAKING OF PART
    22  
15.03 COMPENSATION
    22  
 
       
ARTICLE SIXTEEN INSURANCE
    22  
16.01 TENANTS INSURANCE
    22  
16.02 FORM OF POLICIES
    22  
16.03 LANDLORDS INSURANCE
    23  
16.04 WAIVER OF SUBROGATION
    23  
16.05 NOTICE OF CASUALTY
    23  
 
       
ARTICLE SEVENTEEN WAIVER OF CLAIMS AND INDEMNITY
    24  
17 01 WAIVER OF CLAIMS
    24  
17.02 INDEMNITY BY TENANT
    24  
17.03 WAIVER OF CONSEQUENTIAL DAMAGES
    24  
 
       
ARTICLE EIGHTEEN RULES AND REGULATIONS
    24  
18.01 RULES
    24  
18.02 ENFORCEMENT
    24  
 
       
ARTICLE NINETEEN LANDLORDS RESERVED RIGHTS
    24  
 
       
ARTICLE TWENTY ESTOPPEL CERTIFICATE
    25  
20.01 IN GENERAL
    25  
20.02 ENFORCEMENT
    25  
 
       
ARTICLE TWENTY-ONE INTENTIONALLY OMITTED
    25  
 
       
ARTICLE TWENTY-TWO REAL ESTATE BROKERS
    25  
 
       
ARTICLE TWENTY-THREE MORTGAGEE PROTECTION
    25  
23.01 SUBORDINATION AND ATTORNMENT
    25  
23.02 MORTGAGEE PROTECTION
    26  
 
       
ARTICLE TWENTY-FOUR NOTICES
    26  
 
       
ARTICLE TWENTY-FIVE EXERCISE FACILITY
    26  
 
       
ARTICLE TWENTY-SIX MISCELLANEOUS
    27  
26.01 LATE CHARGES
    27  
26.02 NO JURY TRIAL; VENUE; JURISDICTION
    27  
26.03 DEFAULT UNDER OTHER LEASE
    27  
26.04 OPTION
    27  
26.05 TENANT AUTHORITY
    27  
26.06 ENTIRE AGREEMENT
    27  
26.07 MODIFICATION OF LEASE FOR BENEFIT OF MORTGAGEE
    28  
26.08 EXCULPATION
    28  
26.09 ACCORD AND SATISFACTION
    28  
26.10 LANDLORDS OBLIGATIONS ON SALE OF BUILDING
    28  
26.11 BINDING EFFECT
    28  
26.12 CAPTIONS
    28  
26.13 TIME; APPLICABLE LAW; CONSTRUCTION
    28  
26.14 ABANDONMENT
    28  
26.15 LANDLORDS RIGHT TO PERFORM TENANTS DUTIES
    28  
26.16 SECURITY SYSTEM
    29  
26.17 NO LIGHT, AIR OR VIEW EASEMENTS
    29  
26.18 RECORDATION
    29  
26.19 SURVIVAL
    29  
26.20 EXHIBITS OR RIDERS
    29  

ii


 

 
LEASE
ARTICLE ONE
BASIC LEASE PROVISIONS
1.01 BASIC LEASE PROVISIONS
In the event of any conflict between these Basic Lease Provisions and any other Lease provision, such other Lease provision shall control.
(1)   BUILDING AND ADDRESS:
 
    As of the Date of Lease, the Building has a street address of 101 Galveston Drive Redwood City, California 94063
 
    Building Number 10, located in Phase II (Tenants Phase) of Seaport Centre
 
(2)   LANDLORD AND ADDRESS:
 
    Metropolitan Life Insurance Company,
a New York corporation
 
    Notices to Landlord shall be addressed:
Metropolitan Life Insurance Company
c/o Seaport Centre Manager
701 Chesapeake Drive
Redwood City, CA 94063
with copies to the following:
Metropolitan Life Insurance Company
400 South El Camino Real, Suite 800
San Mateo, CA 94402
Attention: Assistant Vice President
(3)   TENANT; CURRENT ADDRESS & TAX ID:
           
 
(a)   Name:   Genomic Health, Inc. (Genomic Health)
 
(b)   State of incorporation:   a Delaware corporation
 
(c)   Tax Identification Number:   77-0552594
    Tenant shall notify Landlord of any change in the foregoing.
 
    Notices to Tenant shall be addressed:
Genomic Health, Inc.
301 Penobscot Drive
Redwood City, CA 94063
Attention: Chief Financial Officer
    with a copy to:
Pillsbury Winthrop Shaw Pittman LLP
50 Fremont Street
San Francisco, CA 94105
Attention: Rachel B. Horsch
(4)   DATE OF LEASE: as of January  4, 2007
 
(5)   LEASE TERM: The Term is the period of almost 5 years which commences on the Commencement Date and expires on the Expiration Date, as both are defined below.
 
(6)   COMMENCEMENT DATE: March 1, 2007, subject to Rider 2.
 
(7)   EXPIRATION DATE: February 24, 2012.
 
(8)   MONTHLY BASE RENT: The initial monthly installment is due upon Tenants execution.
                         
Period from                    
Commencement Date through                    
Expiration Date   Monthly     Monthly Rate/SF of Rentable Area          
Months 01 12
  $ 37,500.00     Special Negotiated Concession - Rate Not Applicable        
Months 13 24
  $ 52,000.00     Special Negotiated Concession - Rate Not Applicable        
Months 25 36
  $ 63,701.10     $ 1.35          
Months 37 48
  $ 70,779.00     $ 1.50          
Months 49 Expiration Date
  $ 75,497.60     $ 1.60          

1


 

(9)   RENT ADJUSTMENT DEPOSIT: The Rent Adjustment Deposit (at the initial monthly rate, until further notice) shall be Twenty-Seven Thousand Three Hundred Sixty-Seven and 88/100 Dollars ($27,367.88) and is due upon Tenants execution.
(10)   RENTABLE AREA OF THE PREMISES: 47,186 square feet
 
(11)   RENTABLE AREA OF THE BUILDING 47,186 square feet
 
(12)   RENTABLE AREA OF THE PHASE:       235,620 square feet
 
(13)   RENTABLE AREA OF THE PROJECT:   537,444 square feet
 
(14)   SECURITY: The cash and/or Letter of Credit in the amount of One Hundred Fifty Thousand Nine Hundred Ninety-Five and no/100 Dollars ($150,995.00) (and any proceeds of the Letter of Credit drawn and held by Landlord) as provided in Article Five.
 
(15)   SUITE NUMBER &/OR ADDRESS OF PREMISES: 101 Galveston Drive, Redwood City, CA 94063, until further notice
 
(16)   TENANTS SHARE:
             
 
  Tenants Building Share:     100 %
 
  Tenants Phase Share:     20.0263 %
 
  Tenants Project Share:     08.7797 %
(17)   TENANTS USE OF PREMISES: General office use; biotechnology/pharmaceutical research and development, assembly, biotechnical or pharmaceutical manufacturing, and warehousing.
(18)   PARKING SPACES:            156
(19)   BROKERS:
 
    Landlords Broker:            Cornish & Carey Commercial
 
    Tenants Broker:               BT Commercial and Technology Commercial
1.02   ENUMERATION OF EXHIBITS & RIDER(S)
The Exhibits and Rider(s) set forth below and attached to this Lease are incorporated in this Lease by this reference:
EXHIBIT A Plan of Premises
EXHIBIT B Workletter Agreement
EXHIBIT C Site Plan of Project
EXHIBIT D Permitted Hazardous Material
EXHIBIT E Form of Letter of Credit Acceptable from Silicon Valley Bank
EXHIBIT F Fair Market Rental Rate
EXHIBIT G Tenants Personal Property
EXHIBIT H Form of Letter of Credit
RIDER 1 Commencement Date Agreement
RIDER 2 Additional Provisions
1.03   DEFINITIONS
For purposes hereof, the following terms shall have the following meanings:
ADJUSTMENT YEAR: The applicable calendar year or any portion thereof after the Commencement Date of this Lease for which a Rent Adjustment computation is being made.
AFFILIATE: Any Person (as defined below) which is controlled by, controls, or is under common control with Tenant. The word Person means an individual, partnership, trust, corporation, limited liability company, firm or other entity. For purposes of this definition, the word control, means, with respect to a Person that is a corporation or a limited liability company, the right to exercise, directly or indirectly, more than sixty percent (60%) of the voting rights attributable to the shares or membership interests of the controlled Person and, with respect to a Person that is not a corporation, the possession, directly or indirectly, of the power at all times to direct or cause the direction of the management of the controlled Person.
BUILDING: Each building in which the Premises is located, as specified in Section 1.01(1).
BUILDING OPERATING EXPENSES: Those Operating Expenses described in Section 4.01.
COMMENCEMENT DATE: The date specified in Section 1.01(6) as the Commencement Date, unless changed by operation of Article Two or Rider 2.

2


 

COMMON AREAS: All areas of the Project made available by Landlord from time to time for the general common use or benefit of the tenants of the Building or Project, and their employees and invitees, or the public, as such areas currently exist and as they may be changed from time to time.
DECORATION: Tenant Alterations which do not require a building permit and which do not affect the facade or roof of the Building, or involve any of the structural elements of the Building, or involve any of the Buildings systems, including its electrical, mechanical, plumbing, security, heating, ventilating, air-conditioning, communication, and fire and life safety systems.
DEFAULT RATE: Two (2) percentage points above the rate then most recently announced by Bank of America N.T.& S.A. at its San Francisco main office as its corporate base lending rate, from time to time announced, but in no event higher than the maximum rate permitted by Law.
DELIVERY DATE: The date for Landlords delivery to Tenant of possession of the Premises, if different from the Commencement Date, as provided in Rider 2.
ENVIRONMENTAL LAWS: All Laws governing the use, storage, disposal or generation of any Hazardous Material or pertaining to environmental conditions on, under or about the Premises or any part of the Project, including the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended (42 U.S.C. Section 9601 et seq.), and the Resource Conservation and Recovery Act of 1976, as amended (42 U.S.C. Section 6901 et seq.).
EXPIRATION DATE: The date specified in Section 1.01(7) unless changed by operation of Article Two or Rider 2.
FORCE MAJEURE: Any accident, casualty, act of God, war or civil commotion, strike or labor troubles, or any cause whatsoever beyond the reasonable control of Landlord, including water shortages, energy shortages or governmental preemption in connection with an act of God, a national emergency, or by reason of Law, or by reason of the conditions of supply and demand which have been or are affected by act of God, war or other emergency.
HAZARDOUS MATERIAL: Such substances, material and wastes which are or become regulated under any Environmental Law; or which are classified as hazardous or toxic or medical waste or biohazardous waste under any Environmental Law; and explosives, firearms and ammunition, flammable material, radioactive material, asbestos, polychlorinated biphenyls and petroleum and its byproducts.
INDEMNITEES: Collectively, Landlord, any Mortgagee or ground lessor of the Property, the property manager and the leasing manager for the Property and their respective directors, officers, agents and employees.
LAND: The parcel(s) of real estate on which the Building and Project are located.
LANDLORD WORK: The construction or installation of improvements to be furnished by Landlord, if any, specifically described in Rider 2 attached hereto.
LAWS OR LAW: All laws, ordinances, rules, regulations, other requirements, orders, rulings or decisions adopted or made by any governmental body, agency, department or judicial authority having jurisdiction over the Property, the Premises or Tenants activities at the Premises and any covenants, conditions or restrictions of record which affect the Property.

 

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