EXHIBIT 10.7
SEVENTH AMENDMENT TO LEASE
THIS SEVENTH AMENDMENT TO LEASE (this
“ Amendment ”) is entered into as of this 15
th day
of October, 2007, by and between BMR-40 ERIE STREET LLC, a Delaware
limited liability company (“ Landlord ,” as
successor-in-interest to Fort Washington Limited Partnership
(“ Original Landlord ”)), and VERTEX
PHARMACEUTICALS INCORPORATED (“ Tenant ”).
RECITALS
A. WHEREAS, Original Landlord
and Tenant entered into that certain Lease dated as of
March 3, 1995, as amended by that certain First Amendment to
Lease dated as of December 29, 1995, that certain Second
Amendment to Lease dated as of June 13, 1997, that certain
Third Amendment to Lease dated as of October 1, 1998 (the
“ Third Amendment ”), that certain Fourth
Amendment to Lease dated as of February 2, 2000, that certain
Fifth Amendment to Lease dated as of May 1, 1999 (the “
Fifth Amendment ”), and that certain Sixth Amendment
to Lease dated as of April 6, 2005 (collectively, and as the
same may have been further amended, supplemented or modified from
time to time, the “ Lease ”), whereby Tenant
leases certain premises defined as the “Additional
Space” pursuant to the Third Amendment (as such term is
further defined in the Fifth Amendment) and consisting of
approximately 41,532 rentable square feet (the “
Additional Space ”) from Landlord at 40 Erie Street in
Cambridge, Massachusetts (the “ Building
”);
B. WHEREAS, Landlord and Tenant
desire to extend the term of the Lease; and
C. WHEREAS, Landlord and Tenant
desire to modify and amend the Lease only in the respects and on
the conditions hereinafter stated.
AGREEMENT
NOW, THEREFORE, Landlord and Tenant,
in consideration of the mutual promises contained herein and for
other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, and intending to be legally
bound, agree as follows:
1. Definitions . For
purposes of this Amendment, capitalized terms shall have the
meanings ascribed to them in the Lease unless otherwise defined
herein.
2. Extension of Term .
The Additional Space Term is hereby extended until
December 31, 2010. The period from March 19, 2009,
through December 31, 2010, is referred to herein as the
“ Extension Term .”
3. Annual Fixed Rent .
Te
