Item 1.01. Entry into a Material Definitive Agreement.
On
The initial term of the Lease commences upon the Landlord's delivery of the Leased Premises in tenant improvement readiness condition (the "Possession Date"). The initial term of the Lease will extend ten years and eight months from the Possession Date, unless earlier terminated in accordance with the Lease. The Company will have the right to extend the term of the Lease for an additional 5-year term.
Under the Lease, the Company will lease approximately 43,234 square feet at the Property. The Company will pay an escalating base rent over the life of the Lease and its pro rata portion of property expenses and operating expenses for the Property.
The foregoing description of the terms of the Lease does not purport to be
complete and is qualified in its entirety by reference to the full text of the
Lease, which will be filed with the
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information included in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 of this Current Report on Form 8-K by reference.
© Edgar Online, source