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AMENDMENT TO LEASE

Lease Agreement

AMENDMENT TO LEASE | Document Parties: NOVADEL PHARMA INC | Macedo Business Park II, LLC You are currently viewing:
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NOVADEL PHARMA INC | Macedo Business Park II, LLC

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Title: AMENDMENT TO LEASE
Date: 5/1/2009
Industry: Major Drugs     Sector: Healthcare

AMENDMENT TO LEASE, Parties: novadel pharma inc , macedo business park ii  llc
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Exhibit 10.1

 

AMENDMENT TO LEASE DATED MARCH 19, 2002

BY AND BETWEEN

MACEDO BUSINESS PARK II, LLC (LANDLORD)

AND

NOVADEL PHARMA, INC. (TENANT)

 

1. NovaDel Pharma, Inc. (hereinafter referred to as “NovaDel”) shall immediately turn over the cash in escrow in the amount of Two Hundred Twenty-Six Thousand 00/100 Dollars ($226,000.00) to Landlord (Macedo Business Park II, LLC) without recourse, which sum shall satisfy payment of the rent though June 30, 2009.

 

2. Commencing as of July 1, 2009, the term of the Lease shall convert to a month-to-month tenancy and shall consist of such Tenant Space at a total monthly Tenant Rent of $20,549.97 as follows:

(a) Unit 210 (upstairs lab) at a Basic Rent of $3,888.50 per month payable in advance on the first day of each month, for 3,535 square feet of rental space at $13.20 per square foot/absolutely net.

(b) Unit 109 (downstairs unfinished office beneath Unit 210 ) at a Bas


 
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