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 "Commencement Date"). The initial term of the Lease will extend approximately ten years from the Commencement Date, unless earlier terminated in accordance with the Lease. The Company will have the right to extend the term of the Lease for additional 5-year terms.
Under the Lease, the Company will lease approximately 14,189 square feet at the
Property. The Company will pay an escalating base rent over the life of the
Lease of approximately
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 Company's Annual Report on Form 10-K for the
fiscal year ended
The representations, warranties and covenants contained in the Lease were made
only for purposes of such agreement and as of specific dates, were solely for
the benefit of the parties to the Lease, and may be subject to limitations
agreed upon by the contracting parties. Accordingly, the Lease is incorporated
herein by reference only to provide investors with information regarding the
terms of the Lease, and not to provide investors with any other factual
information regarding the Company or its business, and should be read in
conjunction with the disclosures in the Company's periodic reports and other
filings 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.
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