APPLIED GENETIC TECHNOLOGIES CORP: Entry into Material Definitive Agreement, Financial Statements and Exhibits (Form 8-K)
Section 1.01 Entry into Material Definitive Agreement.
The term of the Lease, as amended, will commence upon substantial completion of the Premises, including tenant fit-up work, which is still expected to be completed during the second half of calendar year 2022 (the “Starting Date”). “), and the start date of the rent will be simultaneous with the start date. The original term of the lease will be extended by the Amendment from 20 years to 20 years and 1 month after the Commencement Date (the “Term”). In return for increasing the landlord’s contribution to the tenant’s fit-up work, the amendment increases the annual base rent that the company will pay over the term of the lease, so that the annual base rent will be as indicated below.
Lease Months 1 $ - 2-7 $ 743,750 8-19 $ 1,336,625
The base rent will increase each rental year (12 month period) thereafter from month 20 for the remainder of the term as described in the amendment.
The Amendment also includes customary representations, warranties and covenants. All other terms of the lease remain unchanged.
The foregoing description of the Amendment is a summary only and is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference in present.
Item 9.01 Financial statements and supporting documents.
(d) Exhibits Exhibit No. Description 1.1 First Amendment to Lease, dated as of
May 3, 2022, by and between Applied Genetic Technologies Corporationand Alachua Foundation Park Holding Company II, LLC. Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2
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