SEC Filings

10-K
AUDENTES THERAPEUTICS, INC. filed this Form 10-K on 03/13/2017
Entire Document
 

 

efforts, Lessoris unable to deliver possession by such date, Lessor shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease. Lessee shall not, however, be obligated to pay Rent or perform any other obligation of Lessee under the terms of this Lease until Lessor delivers possession of the Premises to Lessee, and any period of rent abatement that Lessee would otherwise have enjoyed shall run from the date of delivery of possession and continue for a period equal to what Lessee would otherwise have enjoyed under the terms hereof, but minus any days of delay caused by the acts or omissions of Lessee.

B. Early Access.   Subject top Lessee’s delivery of the insurance certificates required by Section 14, the Security Deposit required by Section 5, upon not less than forty-eight (48) prior written notice Lessee shall have access to the Premises prior to the Commencement Date for the limited purpose of allowing its contractors, designers and vendors to inspect the Premises and prepare specifications and plans for Lessee’s tenant improvements and space planning.  Such early access shall be during normal business hours, at Lessee’s sole risk. Lessee and Lessee’s employees, contractors and vendor do not hinder or interfere with the current Lessee’s business operations and or use of the Premsies.

3. Rent and General Provisions Regarding Payments.

A. Lessee shall pay the following rent (“Base Monthly Rent”) to Lessor in advance no later than the first day of each month during the term of this Lease, for the rental of the Premises:

 

March 1, 2017 – February 28, 2018

 

$11,332.50 per month

 

 

 

March 1, 2018 – February 28, 2019

 

$11,672.48 per month

 

 

 

March 1, 2019 – February 29, 2020

 

$12,022.65 per month

 

B. All payments of Base Monthly Rent and all other sums due to be paid by Lessee to Lessor under this Lease, all of which are sometimes collectively referred to as “Rent”, shall be paid to Lessor, without prior demand, prior notice, deduction or offset (except as may be otherwise provided in this Lease), in lawful money of the United States of America at Lessor's United States postal address for notices hereunder (or to such other person or at such other place as Lessor may from time to time designate in writing) or may be made electronically into Lessor’s bank account designated to receive such rental payments. All rent, if not actually received by Lessor within five (5) calendar days of the date the payment is due (such five (5) day period to include the due date), shall bear interest, from the due date until so received, at the rate of ten percent (10%) per annum. Lessee shall pay to Lessor the sum of Fifty Dollars ($50.00) for each check tendered by Lessee which is not honored for payment by Lessee's bank for whatever reason and the statutory penalties if Lessor elects to pursue said remedy. ln addition, Lessee shall pay to Lessor a late charge of ten percent (10%) of the total amount of the payment due for each payment of Base Monthly Rent or other sum due pursuant to this Lease if said sum is not received by Lessor within five (5) calendar days of the date the payment is due (such five (5) day period to include the due date). Lessor and Lessee agree that Lessor will incur damages and expenses on account of any such late payment, including but not limited to added staff time to collect the sums due, accounting and legal expenses and interest or other charges, and that the amount of such damages and expenses will be extremely difficult and impractical to ascertain. Accordingly, the parties agree that the ten percent (10%) late charge is a reasonable estimate of said expenses and damages.

C. All sums received by Lessor from Lessee shall be applied first to the oldest outstanding monetary obligation owed by Lessee to Lessor and any other designation of the manner in which said payment is to be applied by Lessee shall be void and of no effect.

D. If the term of this Lease commences on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, all rent due for such fractional month or months shall be prorated based on a 30 day month.

E. Commencing on the Lease Commencement Date, Lessee shall pay to Lessor Lessee’s Percentage share of Common Area Maintenance and Repair Costs and Lessee’s Percentage Share of the cost of maintaining and repairing the Common Roadway computed and billed quarterly in arrears.