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SEVENTH AMENDMENT TO LEASE

Lease Agreement

SEVENTH AMENDMENT TO LEASE | Document Parties: CUBIST PHARMACEUTICALS INC | January, 2004, California State Teachers' Retirement System | Realty Associates Advisors LLC | Realty Associates Fund VI LLC | Realty Associates Fund VI Texas Corporation | REALTY ASSOCIATES FUND VI, LP You are currently viewing:
This Lease Agreement involves

CUBIST PHARMACEUTICALS INC | January, 2004, California State Teachers' Retirement System | Realty Associates Advisors LLC | Realty Associates Fund VI LLC | Realty Associates Fund VI Texas Corporation | REALTY ASSOCIATES FUND VI, LP

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Title: SEVENTH AMENDMENT TO LEASE
Governing Law: Massachusetts     Date: 2/27/2009
Industry: Biotechnology and Drugs     Sector: Healthcare

SEVENTH AMENDMENT TO LEASE, Parties: cubist pharmaceuticals inc , january  2004  california state teachers' retirement system , realty associates advisors llc , realty associates fund vi llc , realty associates fund vi texas corporation , realty associates fund vi  lp
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EXHIBIT 10.43

 

SEVENTH AMENDMENT TO LEASE

 

THIS SEVENTH AMENDMENT TO LEASE (this “Seventh Amendment”) is made as of the 18 th  day of November, 2008 (the “Seventh Amendment Date”), by and between THE REALTY ASSOCIATES FUND VI, L.P., a Delaware limited partnership (“Landlord”) and CUBIST PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”).

 

RECITALS:

 

WHEREAS, by a lease (the “Original Lease”) dated as of January, 2004, California State Teachers’ Retirement System (“Calsters”) leased to Tenant approximately 15,475 rentable square feet of space, consisting of a portion of the second (Suite 2201-55) and fourth (Suite 4201-55) floors in the building known as 45-55 Hayden Avenue, Lexington, Massachusetts (the “Building”); and

 

WHEREAS, Landlord has succeeded to the interests of Calsters as landlord under the Lease; and

 

WHEREAS, the Original Lease has been amended by a First Amendment to Lease between Landlord and Tenant, dated as of September 29, 2005 (the “First Amendment”), by a Second Amendment to Lease between Landlord and Tenant dated as of November 18, 2005 (the “Second Amendment”), by a Third Amendment to Lease between Landlord and Tenant dated as of June 20, 2007 (the “Third Amendment”), by a Fourth Amendment to Lease dated as of October 25, 2007, by a Fifth Amendment to Lease (the “Fifth Amendment”) dated as of December 18, 2007, and by a Sixth Amendment to Lease (the “Sixth Amendment”) dated as of July 31, 2008 (the Original Lease, as so amended, being referred to as the “Lease”), pursuant to which the size of the premises demised under the Original Lease was increased to 131,143 rentable square feet (the “Existing Premises”). The Existing Premises consist of Suites 2201-55, 2200-55, 3000-55, 3200-55, 3201-55, 4201-55, 4200-55, 4600-45, and 1000-55; and

 

WHEREAS, by letter dated as of April 27, 2006, and pursuant to the Second Amendment, Tenant elected to include Suite 2200-55 (also known as the Comet Space) in the Existing Premises for the remainder of the Lease Term; and

 

WHEREAS, Landlord and Tenant now desire to further amend the Lease to, among other things, grant to Tenant the exclusive right to use approximately 1,754 square feet of space on the ground floor of the 55 Hayden Avenue portion of the Building (the “Lobby Space”), and to adjust the rent and certain provisions, all on the terms and conditions set forth below.

 

NOW, THEREFORE, in consideration of the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, Landlord and Tenant hereby agree as follows:

 

1



 

1.              Defined Terms. All of the foregoing recitals are true and correct. Unless otherwise defined herein, all capitalized terms used in this Seventh Amendment shall have the meanings ascribed to them in the Lease, the Lease shall be amended to incorporate any additional definitions provided for in this Seventh Amendment, and all references in the Lease to the “Lease” or “this Lease” or “herein” or “hereunder” or similar terms or to any section thereof shall mean the Lease, or such section thereof, as amended by this Seventh Amendment.

 

2.              Lobby Space. Effective from and after the Seventh Amendment Date, and for so long as Tenant continues to occupy all of the Premises in the 55 Hayden Avenue portion of the Building, Landlord hereby grants to Tenant the exclusive right to use, as appurtenant to the Premises, the Lobby Space, shown on Exhibit A-7 , attached hereto and incorporated herein by reference. The Lobby Space shall be used by Tenant as a reception area and lobby for Tenant’s employees and invitees to Tenant’s offices in the Building. From and after the Seventh Amendment Date, the Lobby Space shall be treated as if it were a part of the Premises for all purposes of the Lease, including without limitation Article 6 thereof.

 

3.              Annual Rent for Lobby Space. From after the Seventh Amendment Date, and in addition to Annual Rent and additional rent payable with respect to the Existing Premises, the Tenant shall pay Annual Rent for the Lobby Space as provided below:

 

RENTAL PERIOD

 

TOTAL ANNUAL
RENT

 

MONTHLY PAYMENT

 

RENTAL RATE/SF

 

 

 

 

 

 

 

 

 

Through 4/30/09

 

$

56,566.50

 

$

4,713.88

 

$

32.25

 

5/1/09 – 4/30/10

 

$

58,320.50

 

$

4,860.04

 

$

33.25

 

5/1/10 – 4/30/11

 

$

60,074.50

 

$

5,006.21

 

$

34.25

 

5/1/11 –4/30/12

 

$

61,828.50

 

$

5,152.38

 

$

35.25

 

5/1/12 – 4/30/13

 

$

63,582.50

 

$

5,298.54

 

$

36.25

 

5/1/13 – 4/30/14

 

$

65,336.50

 

$

5,444.71

 

$

37.25

 

5/1/14–4/30/15

 

$

67,090.50

 

$

5,590.88

 

$

38.25

 

5/1/15 – 4/30/16

 

$

68,844.50

 

$

5,737.04

 

$

39.25

 

 

4.              Delivery and Condition of Lobby Space. (a) Tenant acknowledges that Tenant will accept possession of the Lobby Space on the Seventh Amendment Date in its current AS IS condition, without any representation or warranty whatsoever on the part of Landlord. Tenant currently occupies the Existing Premises and is fully familiar with the condition of the Lobby Space, and Ten


 
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