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S-1
PROTEON THERAPEUTICS INC filed this Form S-1 on 09/16/2014
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unless sooner terminated or extended in accordance with the provisions of the Lease, upon all the same terms and conditions contained in the Lease as herein amended.

 

2.                                      Annual Fixed Rent shall continue to be payable by Tenant during the Third Extended Term at the annual rate of $168,062.00 (being the product of (i) $34.00 and (ii) the Rentable Floor Area of the Premises (being 4,943 square feet)).

 

3.                                      (A)                               Commencing on January 1, 2015 and continuing through the Third Extended Term, the definition of “Base Operating Expenses” contained in Section 2.6 of the Lease shall be deleted in its entirety and the following substituted therefor:

 

“Base Operating Expenses” shall mean Landlord’s Operating Expenses for calendar year 2015 (that is, the period beginning January 1, 2015 and ending December 31, 2015). Base Operating Expenses shall not include (i) market-wide cost increases in ordinarily included costs due to extraordinary circumstances, included but not limited to Force Majeure (as defined in Section 6.1), conservation surcharges, boycotts, strikes, embargoes or shortages (“Extraordinary Expense”) and (ii) the cost of any Permitted Capital Expenditures.  However, if a particular Extraordinary Expense continues for more than twenty-four (24) consecutive months, then during each year after the calendar year 2015 (“Base Year”) in which it continues (and on a pro rata basis if it continues for part, but not all, of a subsequent year), Base Operating Expenses shall include such Extraordinary Expense. By way of example only, if there is a conservation surcharge that constitutes an Extraordinary Expense, and if such surcharge continues for more than twenty-four (24) consecutive months, then for every year after the Base Year in which surcharge exists, Base Operating Expenses shall be increased (in a pro rata basis for partial years after the Base Year) by the amount of such surcharge in the Base Year.

 

For that portion of the Lease Term prior to January 1, 2015, such definition shall remain unchanged.

 

(B)                               Commencing on January 1, 2015, and continuing through the Third Extended Term, the definition of “Base Taxes” contained in Section 2.7, of the Original Lease shall be deleted in its entirety and the following substituted therefor:

 

“Base Taxes” means Landlord’s Tax Expenses (hereinbefore defined) for fiscal tax year 2015 (that is, the period beginning July 1, 2014 and ending June 30, 2015).

 

For that portion of the Lease Term prior to January 1, 2015, such definition shall remain unchanged.

 

4.                                      Landlord and Tenant acknowledge and agree that Section 2.1.1 of the Lease is hereby deleted in its entirety and Landlord shall have no further relocation right thereunder.

 

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