Item 1.01 Entry into a Material Definitive Agreement.
On
Under the terms of the Lease, the Landlord has agreed to make certain leasehold
improvements to the Premises to suit the Company's use (the "Improvements"). The
term of the Lease commences on the earlier of (1) the date the Company commences
its business operations in the Premises and (2) the date the Improvements are
substantially completed and necessary occupancy permits are obtained (the
"Commencement Date"). The Lease will have a term of approximately ten years and
two months. The Company's obligation for the payment of base rent for the
Premises begins two months after the Commencement Date and will be
In connection with its entry into the Lease and as a security deposit, the
Company will deposit with the Landlord a letter of credit in the amount of
approximately
The Landlord has the right to terminate the Lease upon specified events of default, including the Company's failure to pay rent in a timely manner and upon the occurrence of certain events of insolvency with respect to the Company.
The Company may also terminate the Lease if the Premises are not ready for occupancy within a specified time period after the anticipated Commencement Date.
The foregoing summary of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, a copy of which is attached hereto as Exhibit 10.1 and is incorporated into this Item 1.01 by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in or incorporated by reference into Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description Lease, by and betweenTScan Therapeutics, Inc. and BXP Waltham Woods 10.1 LLC, datedNovember 29, 2021 Cover Page Interactive Data File (embedded within the Inline XBRL 104 document)
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