GXDX » Topics » Item 1.01. Entry into a Material Definitive Agreement.

This excerpt taken from the GXDX 8-K filed Sep 17, 2008.

Item 1.01.     Entry into a Material Definitive Agreement.

 

On September 15, 2008, Genoptix, Inc., a Delaware corporation (“Genoptix”) entered into an amendment (the “Amendment”) to its lease agreement with Allen Joseph Blackmore, Trustee of the Blackmore Family Trust, Restated 1995 dated April 15, 2008 (as amended, the “Lease”).  The Amendment adds an additional 4,649 square feet of office space in Carlsbad, California, and brings the Lease to approximately 47,597 square feet of office space in total.  Pursuant to the Amendment, the minimum monthly rent payable was increased to approximately $124,000 during the first year of the Lease and will increase to approximately $143,500 per month in the sixth year of the lease.  In the event Genoptix exercises its option to extend the term of the Lease beyond its initial six-year term, the minimum monthly rent payable will be increased to approximately $148,000 in the first year of the five-year option term and will increase to approximately $166,000 per month in the fifth year of the option term.  This summary of the Amendment is qualified in its entirety by reference to the full text of Amendment, which is attached as Exhibit 99.1 to this Current Report and is incorporated by reference herein.

 

This excerpt taken from the GXDX 8-K filed Apr 16, 2008.

Item 1.01.              Entry into a Material Definitive Agreement.

 

On April 15, 2008, Genoptix, Inc., a Delaware corporation (“Genoptix”) entered into a lease agreement with Allen Joseph Blackmore, Trustee of the Blackmore Family Trust, Restated 1995 (“Blackmore”), for approximately 42,948 square feet of office space in Carlsbad, California.  The six-year term of the lease will commence on January 1, 2009, and Blackmore has granted Genoptix an option to extend the term of the lease for an additional five-year term (the “Option Term”).  Under the lease, the minimum monthly rent payable is approximately $112,000 during the first year of the lease and will increase to approximately $129,000 per month in the sixth year of the lease.  In the event Genoptix chooses to extend the term of the lease beyond the initial six-year term, the minimum monthly rent payable will be increased to approximately $133,000 in the first year of the Option Term and will increase to approximately $150,000 per month in the fifth year of the Option Term.  Additionally, Genoptix and Blackmore have agreed that in the event that the primary lessor of office and laboratory space located at 2110 Rutherford Road in Carlsbad, California that Genoptix subleases (the “Rutherford Premises”) fails to extend the terms of its direct lease with Blackmore’s affiliate for the Rutherford Premises, Blackmore shall cause its affiliate to enter into a direct lease agreement with Genoptix for the Rutherford Premises covering the period between July 1, 2012, through December 31, 2014, at a monthly base rent of approximately $123,000, increasing to $131,000 over time.

 

Effective on January 1, 2009, Genoptix’s current lease governed by the Standard Multi-Tenant Office Lease dated February 4, 2008 by and between Genoptix and Blackmore Signal Hill, L.P., shall be terminated.

 

This excerpt taken from the GXDX 8-K filed Feb 7, 2008.

Item 1.01.      Entry into a Material Definitive Agreement.

 

On February 4, 2008, Genoptix, Inc., a Delaware corporation (“Genoptix”) entered into a lease agreement with Blackmore Signal Hill, a California limited partnership (“Blackmore”) for approximately 12,472 square feet of office space in Carlsbad, California.  The initial two-year term of the lease commenced on February 1, 2008, and Blackmore has granted Genoptix three options to extend the term of the lease for additional one-year terms (each, an “Option Term”).  Under the lease, the minimum monthly rent payable is approximately $29,000 during the first year of the lease and will increase to approximately $30,000 per month in the second year of the lease.  In the event Genoptix chooses to extend to the term of the lease beyond the initial two-year term, the minimum monthly rent payable will be increased to approximately $31,000 in the first Option Term, approximately $32,000 in the second Option Term and approximately $33,000 in the third Option Term.  This summary of the lease is qualified in its entirety by reference to the full text of the lease, which is attached as Exhibit 99.1 to this Current Report and is incorporated by reference herein.

 

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