Attached files
file | filename |
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EXCEL - IDEA: XBRL DOCUMENT - Oncternal Therapeutics, Inc. | Financial_Report.xls |
EX-32.1 - EX-32.1 - Oncternal Therapeutics, Inc. | c18962exv32w1.htm |
EX-31.2 - EX-31.2 - Oncternal Therapeutics, Inc. | c18962exv31w2.htm |
EX-32.2 - EX-32.2 - Oncternal Therapeutics, Inc. | c18962exv32w2.htm |
EX-31.1 - EX-31.1 - Oncternal Therapeutics, Inc. | c18962exv31w1.htm |
10-Q - FORM 10-Q - Oncternal Therapeutics, Inc. | c18962e10vq.htm |
Exhibit 10.59
Memorandum of Understanding
Concerning the Lease Agreement between
The University of Tennessee Research Foundation and GTx, Inc.
As Amended July 20, 2009
Concerning the Lease Agreement between
The University of Tennessee Research Foundation and GTx, Inc.
As Amended July 20, 2009
RECITALS
WHEREAS, The University of Tennessee Research Foundation (the SUBLESSOR) and The University
of Tennessee (the LESSOR) have entered into a Lease dated March 7, 2001, which was subsequently
amended by agreements dated April 1, 2005 and July 20, 2009 (the Lease); and
WHEREAS, the SUBLESSOR and GTx, Inc., a Delaware corporation (the SUBLESSEE), have entered
into a Sublease dated October 1, 2009 with the consent of LESSOR (the Sublease);
WHEREAS, the SUBLESSOR and SUBLESSEE desire to reduce the portion of the premises leased to
the SUBLESSEE and the Rent to be paid by SUBLESSEE to SUBLESSOR, as hereinafter described;
NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration set
forth herein, the parties agree as follows:
1. | The leased premises described in the Sublease shall be reduced as of the Effective Date
from 71,754 square feet to 41,628 square feet as described below and shown on the Floor
Plans attached to and incorporated within this Memorandum as Exhibit A: |
CURRENT AND PROPOSED ALLOCATION OF SPACE | ||||||||||||||||
Current Areas | Proposed New Areas | |||||||||||||||
Floor | SUBLESSOR | LESSOR | SUBLESSOR | LESSOR | ||||||||||||
Basement |
5,238 | 4,732 | 0 | |||||||||||||
1st floor |
12,563 | 3,625 | 8,210 | 10,010 | ||||||||||||
2nd floor |
23,326 | 5,771 | 22,708 | 6,210 | ||||||||||||
3rd floor |
30,626 | 5,978 | 23,302 | |||||||||||||
Totals |
71,754 | 9,396 | 41,628 | 39,522 | ||||||||||||
88 | % | 12 | % | 51 | % | 49 | % |
2. | Pursuant to Section 2 of the Sublease, as of the Effective Date, the Rent SUBLESSEE
will continue to pay to SUBLESSOR for the reduced leased premises will be based on that
portion of the actual cost of operations (as defined in the Sublease) for the Premises
commensurate with the amount of space leased by SUBLESSEE. With the reduction of the
leased premises, as of the Effective Date, SUBLESSEE will pay as Rent to SUBLESSOR 50% of
the actual cost of operations of the Premises (which includes the building located on the
Premises). |
3. | This MOU is to become effective on May 1, 2011 (the Effective Date) and will continue
in effect through the end of the current Sublease term on December 31, 2012. If SUBLESSEE
determines to exercise any option to extend the Sublease, this MOU will continue in effect
for up to an additional five (5) months through April 30, 2013. |
||
4. | This MOU can be canceled with 90 days advance written notice and acceptance by all
parties., in which event the lease premises will automatically return to the entire leased
premises described in the Sublease. |
||
5. | All parties agree to respect the privacy and confidentiality of intellectual property
of each other as provided by Tennessee and federal law. |
IN WITNESS WHEREOF, the SUBLESSEE and the SUBLESSEE have executed this Sublease in duplicate
on the date written below.
THE UNIVERSITY OF TENNESSEE | GTx, Inc. | |||||||
RESEARCH FOUNDATION | (SUBLESSEE) | |||||||
(SUBLESSOR) | ||||||||
By:
|
/s/ Richard Magid
|
By: | /s/ Henry P. Doggrell
|
|||||
Vice President | Vice President, General Counsel | |||||||
Date: 14 April 2011 | Date: April 13, 2011 | |||||||
THE UNIVERSITY OF TENNESSEE (LESSOR) |
||||||||
By:
|
/s/ Chares M. Peccolo
|
|||||||
Treasurer | ||||||||
Date: April 19, 2011 |
Exhibit A
Floor Plans