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Lease Agreement [Amendment No. 1]

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Title:

Lease Agreement [Amendment No. 1]

Entities:

Barrier Therapeutics, Inc.; Peregrine Investment Partners-I

Date:

2004

Size:

Preview shows 3KB of 10KB total

Price:

$40

ID:

#286387

► Leasing ► Leases ► Leases by State ► New Jersey Lease Agreements
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                       AMENDMENT NO. 1 TO LEASE AGREEMENT



         THIS AMENDMENT NO. 1 TO LEASE AGREEMENT ("First Amendment") made this

6th day of November, 2003 between PEREGRINE INVESTMENT PARTNERS-I, a

Pennsylvania limited partnership ("Landlord") and BARRIER THERAPEUTICS, INC.

("Tenant").



                                   BACKGROUND



         Landlord and Tenant are parties to a Lease Agreement dated May 28, 2003

respecting the Lease of space on the third floor of the Building known as Arbor

600, 600 College Road East, Princeton Forrestal Center, Plainsboro Township, New

Jersey (the "Lease"). Landlord and Tenant desire to modify the Lease with

respect to the First Expansion Premises and the Additional Expansion Premises as

set forth herein.



         NOW, THEREFORE, intending to be legally bound hereby, Landlord and

Tenant covenant and agree as follows:



         1.       Defined Terms. Except as otherwise expressly provided herein,

the terms defined in the Lease shall have the same meaning in this First

Amendment as in the Lease.



         2.       First Expansion Premises. Paragraph b. of Section 1 of the

Lease is hereby deleted and the following is inserted in its place and stead:



         "First Expansion Premises. Tenant shall take possession of the First

         Expansion Premises (as the same is depicted as 'Expansion Space A' on

         the Plan attached hereto as Exhibit "A") on January 1, 2004, unless

         Tenant with Landlord's consent takes possession thereof on an earlier

         date. Basic Rent and Additional Rent obligations for the First

         Expansion Premises shall commence as of such date of possession. The

         failure of Tenant to take possession of the First Expansion Premises

         when required shall not excuse Tenant from the responsibility for all

         its covenants and obligations with respect thereto hereunder, including

         the obligation to pay rent. Landlord shall deliver to Tenant exclusive

         possession of the First Expansion Premises no later than January 1,

         2004.



         3.       Additional Expansion Premises. Paragraph c. of Section 1 of

the Lease is hereby deleted and the following is inserted in its place and

stead:



         "Additional Expansion Premises. Tenant shall take possession of the

         Additional Expansion Premises (as the same is depicted as 'Expansion

         Space B' in the Plan attached hereto as Exhibit "A") on or before

         January 1, 2005, so long as the Lease is in effect at that time. Basic

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