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Document Preview Lease Agreement |
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Title: |
Lease Agreement |
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Entities: |
Barrier Therapeutics, Inc.; Citibank, NA; Princeton University; Peregrine Investment Partners - I |
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Date: |
2004 |
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Size: |
Preview shows 7KB of 126KB total |
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Price: |
$70 |
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ID: |
#286386 |
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LEASE AGREEMENT
BETWEEN
Peregrine Investment Partners - I,
a Pennsylvania Limited Partnership
("Landlord")
AND
Barrier Therapeutics, Inc.
("Tenant")
{PAGE}
BASIC LEASE PROVISIONS
This Lease consists of the Cover Sheet, Basic Lease Provisions, General
Lease Provisions, Riders and Exhibits, all of which are attached hereto and
incorporated herein by reference for all purposes. The terms defined in the
Basic Lease Provisions, General Lease Provisions, Riders and Exhibits shall be
deemed to have the meanings ascribed, wherever used herein. The Cover Sheet and
headlines of paragraphs, Riders and Exhibits are for convenience only and shall
not be deemed to enlarge or diminish the meanings of the provisions of this
Lease.
LEASE DATE: May 28, 2003
LANDLORD: Peregrine Investment Partners - I, a Pennsylvania
Limited Partnership
770 Township Line Road, Suite 150
Yardley, PA 19067
Authorized Representative: Sam Jones
Telephone: 215-575-2476
TENANT: Name: Barrier Therapeutics, Inc.
Address: 100 Overlook Center, Second Floor
Princeton, NJ 08540
Authorized Representative: Anne M. VanLent
Executive Vice President
and Chief Financial
Officer
Telephone: 609-375-2200
LAND: The tract of land located in the Township of
Plainsboro, Middlesex County, New Jersey and
described in Exhibit "A-1".
BUILDING: The building commonly known as Arbor 600, 600 College
Road East, Princeton Forrestal Center, New Jersey,
situated on the Land.
PREMISES: The portion of the Third floor of the Building shown
on the floor plan attached as Exhibit "A-2, shown as
the Initial Premises and the First Expansion Premises
(together, the "Premises").
TERM: Seven (7) years, subject to Section 2 of the
General Lease Provisions.
LEASE COMMENCEMENT DATE: September 1, 2003 (or earlier if Landlord has
completed the Premises for Occupancy, as provided
herein; subject to adjustment pursuant to Section 2
of the General Lease Provisions).
LEASE EXPIRATION DATE: August 31, 2010 (subject to adjustment pursuant to
Section 2 of the General Lease Provisions).
{PAGE}
BASIC RENT: Basic Rent shall be payable, in consecutive equal
monthly installments, plus Tenant electric, pursuant
to the following schedule:
Years 1 - 3: $25.00/per rentable square foot
Years 4 - 5: $27.00/per rentable square foot
Years 6 - 7: $28.50/per rentable square foot
Basic Rent shall commence on November 1, 2003 with
respect to the Initial Premises, herein defined,
provided if the Lease Commencement Date shall be
changed to an earlier or later date, the Basic Rent
commencement shall be correspondingly changed to
provide two (2) months free of Basic Rent. Basic Rent
on the First Expansion Premises shall commence on the
earlier of occupancy thereof by Tenant, or January 1,
2005.
ADDITIONAL RENT:
1. Increases in Real Estate Taxes: Tenant's Allocated
Share of the increase in real estate taxes (including
special assessments, rental receipts or gross real
estate taxes, if any, and any other taxes now or
hereinafter imposed in the nature of or in
substitution for real estate taxes) levied on the
Building and the Land in excess of the annual real
estate taxes for the later of (i) calendar year 2003
or (ii) the calendar year of the Lease Commencement
Date (the "Base Year").
2. Increases in Operating Costs: Tenant's Allocated
Share of the increase during the Term of the Lease in
the Operating Costs (as defined in the General Lease
Provisions) over the annual Operating Costs for the
later of (i) calendar year 2003 or (ii) the calendar
year of the Lease Commencement Date (the "Base
Year").
ELECTRICAL SERVICE COST AMOUNT: $1.25 per rentable square foot, until adjusted
as provided in Section 6 of the General Lease
Provisions.
SECURITY DEPOSIT: Two (2) Months Rent.
LATE CHARGE: Two percent (2%) of the Installment of Rent due and
unpaid.
OVERDUE INTEREST RATE: Two percent (2%) per annum in excess of the "prime
rate" then in effect at Citibank, N.A. in New York
City (but not to exceed the maximum rate of interest
to be charged Tenant for the use, forbearance or
detention of money).
REIMBURSEMENT INTEREST RATE: Two percent (2%) per annum in excess of the "prime
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