Document:

exv10w25

 

Exhibit 10.25

COMMERCIAL TENANCY AGREEMENT

(F I R S T   E D I T I O N) revised © Copyright

REIQ

The Real Estate Institute of Queensland

Member Office

	 	 	 
	PARTIES

Landlord:

	 	Corporate Broking Services Pty Ltd
	 
	 	 
	Tenant:

	 	Royal Wolf trading Australia Pty Ltd
	 
	 	 
	Date:

	 	31 October 2006

THIS AGREEMENTCOMPRISES THE REFERENCE SCHEDULE AND
COMMERCIAL TENANCY AGREEMENT CONDITIONS.

INSTRUCTIONS TO COMPLETE

Commercial Tenancy Agreement

DO NOT USE THIS DOCUMENT

	*	 	FOR RESIDENTIAL TENANCIES.
	 
	*	 	FOR PREMISES COVERED BY THE RETAIL SHOP LEASES ACT.
	 
	*	 	WHERE THE INITIAL TERM EXCEEDS 3 YEARS.
	 
	*	 	WHERE REGISTRATION UNDER THE LAND TITLE ACT IS
REQUIRED.

• If including an option to renew, the Tenant should be advised to seek legal advice about having
the tenancy registered to protect its rights under the option.

• Where the initial term plus options exceeds 10 years and the premises form part of the Landlords
title, the tenancy may require approval as a subdivision and legal advice should be sought.

• Unless amended, this agreement provides for rent to be reviewed based on increases in the
Consumer Price Index. It is not suitable for use where rent is to be reviewed to market or
otherwise.

• The only outgoings recoverable in this agreement are local government rates, fire services
levies, insurance, cleaning and garden maintenance. Unless amended, this agreement is not suitable
for use where additional outgoings are to be paid by the Tenant.

•The Agreement must be submitted to the Office of State Revenue for stamping within 30 days of
signing.

Reference Schedule

Ensure that all items are completed.

Item 1: Full name/s of the owner/s of the property and their address. If the Landlord is a
company, include ABN. DO NOT use a business name.

 

 

Item 2: Full name/s of the tenant. If the Tenant is a company, include its ABN. DO NOT use a
business name.

Item 3: The Premises must be clearly identified e.g. “Suite 3, 45 John Street, Spring Hill” etc. If
not able to be identified by name, a sketch plan must be attached to the Agreement and the address
must be included at Item 3.

Item 5: Insert the period of the further tenancy, e.g. “6 months” or “1 year” or “not applicable”.

Item 7: Insert the date on which the rent is to be adjusted by the CPI or “Not applicable”.

Item 8: The permitted Use should be stated clearly and concisely.

Item 9: Insert the percentage of outgoings the Tenant is to pay, e.g. “25%” or “100%” or “Not
applicable”.

	 	 	 
	AGREEMENT

	 	made (date) 31 October2006
	PARTIES

	 	The person named in Item I of the Reference Schedule           (“Landlord”)
	AND

	 	The person named in Item 2 of the Reference Schedule           (“Tenant”)

	 	 	 	 	 
	 

	 	 	 	REFERENCE SCHEDULE
	 
	 	 	 	 
	Item 1

	 	Landlord
	 	Corporate Braking Services Pty Ltd
	 

	 	Address
	 	c/- King & Co Property Consultants, 99 Annerley Road
	 

	 	 	 	Woolloongabba Qld 4102
	 

	 	 	 	Phone: 07 3844 3222           Fax: 07 3844 9888
	 
	 	 	 	 
	 

	 	ABNNo:	 	 
	 

	 	Email Address:	 	 
	 
	 	 	 	 
	Item 2

	 	Tenant
	 	Royal Wolf Trading Australia Pty Ltd
	 

	 	Address
	 	Weyba Street
	 

	 	 	 	Banyo Qld 4014
	 

	 	Phone:
	 	            
      
      
                    Fax:
	 

	 	ABN No:
	 	 38 069 244 417
	 

	 	Email Address:	 	 
	 
	 	 	 	 
	Item 3

	 	Premises
	 	Unit 3/919 Nudgee Road
	 

	 	 	 	Banyo Qld 4013
	 
	 	 	 	 
	 

	 	 	 	(annex a plan if available)
	 
	 	 	 	 
	Item 4

	 	Term
	 	(1) periodic monthly tenancy; or
	 

	 	 	 	(2) 12 months commencing on 8November2006
	 

	 	 	 	                    and ending on 7 November 2007
	 
	 	 	 	 
	Item 5

	 	Option for

Further Term
	 	 12 months
	 
	 	 	 	 
	Item 6

	 	Rent
	 	 $20,783.33 P1us GST per month
	 
	 	 	 	 
	Item 7

	 	Annual Rent	 	 
	 

	 	Review Dates
	 	See Special Conditions
	 
	 	 	 	 
	Item 8

	 	Permitted Use
	 	Manufacturing and assembly
	 
	 	 	 	 
	Item 9

	 	Percentage of
Outgoings
	 	 100% payable by Tenant- See Special Conditions

 

 

	 	 	 	 	 
	Item 10

	 	Deposit
	 	 $20,783,33 + G.S.T. (being 1st month’s rental)
	 
	 	 	 	 
	Item 11

	 	Landlord’s Agent
	 	King & Co Property Consultants Pty Ltd
	 

	 	Address
	 	 99AnnerleyRoad, Woolloongabba Qld 4102
	 
	 	 	 	 
	 

	 	Phone:
	 	 07 3844 3222           Fax: 3844 9888
	 

	 	ABN No:
	 	 20120411118
	 

	 	Email Address:
	 	kingco@kingco.com.au

SPECIAL CONDITIONS

1. Tenant to have access to premises from 6 November2006 to conduct electrical fit out (which will
remain property of Landlord) and for setup of operations. All electrical works are to be
undertaken in a proper and tradesmanlike manner.

2. Tenant will receive first 3 weeks rent free.

3. Tenant will give 4 months notice of intention to exercise option.

4. Tenant will pay any increases in insurance premiums if there are any as a result of their
operations.

5. Item 9-Percentage of Outgoings.

In addition to Clause 4.2, Outgoings shall include the following (included are the budget
Outgoings):

Body Corporate charges ($1,500 pa);

Repairs and Maintenance ($3,000 pa);

Pest Control ($400 pa);

Property Management fees ($4, 000 pa);

BCC Rates ($6, 000 pa);

Water Rates ($1,000 pa);

Insurance ($3,000 pa);

Air conditioning ($2,000 pa).

All Outgoings are reconciled against actual charges at the end of each financial year.

6. Tenant will ensure common driveway is not blocked or restricted at any time.

7. Item 7-Annual Rent Review Dates

Market review at option. ($80/m2 + Outgoings + G. S. T. + CPI or market rental, whichever is the
greater).

EXECUTED as an agreement.

EXECUTION BY LANDLORD

	 	 	 	 	 
	THE COMMON SEAL of
	 	 	 	 
	AS LANDLORD

	 	 

	 	 

 

 

	 	 	 	 	 
	was affixed in accordance with its articles	 	 
	of association in the presence of:	 	 

	 	 	 
	 

	 	/s/ John Ashleigh Fillmore 
	Director/Secretary

	 	Director
	 
	 	 
	 

	 	John Ashleigh Fillmore 
	Name of Director/Secretary (BLOCK LETTERS)

	 	Name of Director (BLOCK LETTERS)

OR

	 	 	 
	SIGNED by
	 	 
	 

	 	 
	AS LANDLORD
	in the presence of:

	 	 	 
	 

	 	 
	Signature of Witness

	 	Address of Witness
	 
	 	 
	 

Name of Witness (BLOCK LETTERS)

	 	 

EXECUTION BY TENANT

	 	 	 
	THE COMMON SEAL of
	 	 
	 

	 	 
	AS TENANT
	 	 
	was affixed in accordance with its articles
	of association in the presence of:

	 	 	 
	/s/ Peter McCann

	 	/s/ James H. Warren
	 

	 	 
	Secretary

	 	Director
	 
	 	 
	Peter McCann

	 	James H. Warren
	 

	 	 
	Name of Secretary (BLOCK LETTERS)

	 	Name of Director (BLOCK LETTERS)

OR

	 	 	 
	SIGNED by AS TENANT
	 	 
	 

	 	 
	in the presence of:
	 	 

	 	 	 
	/s/ Kathryn Woolfe

	 	22 Edgeworth Ave. Hornsby
	 

	 	 
	Signature of Witness                          
     
     
               #108024

	 	Address of Witness
	 
	 	 
	Kathryn Woolfe
	 	 
	 

Name of Witness (BLOCK LETTERS)

	 	 

 

 

COMMERCIAL TENANCY AGREEMENT CONDITIONS

(FIRST EDITION) revised

IT IS AGREED

1. DEFINITIONS AND INTERPRETATION

1.1 Terms in Reference Schedule

Where a term used in this Agreement appears in bold type in the Reference Schedule, that term has
the meaning shown opposite it in the Reference Schedule.

1.2 Definitions

Unless the context otherwise requires:

(1) “Agreement’ means this document, including any Schedule or Annexure to it;

(2) “Business Day” means a day that is not a Saturday, Sunday or any other day which is a public
holiday or a bank holiday In the place where an act is to be performed or a payment is to be made;

(3) “Claim” includes any claim or legal action and all costs and expenses incurred in connection
with it;

(4) “Land” means the land on which the Premises are situated;

(5) “Landlord’s Property” means any property owned by the Landlord in the Premises or on the Land
and includes the property identified in any inventory annexed to this Agreement;

(6) “Premises” means the premises described in Item 3 of the Reference Schedule and includes the
Landlord’s Property in the premises;

(7) “REIQ” means Real Estate Institute of Queensland Ltd;

(8) “Services” means all utilities and services in the Premises;

(9) “Tenancy” means the tenancy between the Landlord and the Tenant created by this Agreement;

(10) “Tenant’s Employees” means each of the Tenants employees, contractors, agents, customers,
subtenants, licensees or others (with or without invitation) who may be on the Premises, the
Building or the Land;

(11) “Tenant’s Property” includes all fixtures and other articles in the Premises which are not the
Landlord’s; and

(12) “Term” means either a periodic monthly tenancy or the period of months or years described in
Item 4(2) of the Reference Schedule, as applicable, commencing on the date in item 4 in the
reference schedule.

(13) “Goods and Services Tax” means a goods and services tax or similar value added tax.

1.3 Interpretation

(1) Reference to:

(a) one gender includes each other gender;

(b) the singular includes the plural and the plural includes the singular;

(c) a person includes a body corporate;

(d) a party includes the party’s executors, administrators, successors and permitted assigns; and

(e) a statute, regulation or provision of a statute or regulation (“Statutory Provision”) includes:

(I) that Statutory Provision as amended or re-enacted from time to time; and

(ii) a statute, regulation or provision enacted in replacement of that Statutory Provision.

(2) All monetary amounts are in Australian dollars, unless otherwise stated.

(3) If a party consists of more than one person, this Agreement binds them jointly and each of them
severally.

(4) Headings are for convenience only and do not form part of this Agreement or affect its
interpretation.

 

 

(5) A party which is a trustee is bound both personally and in its capacity as a trustee.

(6) “Including” and similar expressions are not words of limitation.

(7) Where a word or expression is given a particular meaning, other parts of speech and grammatical
forms of that word or expression have a corresponding meaning.

(8) If an act must be done on a specified day which is not a Business Day, the act must be done
instead on the next Business Day.

(9) Where this Tenancy permits or requires the Landlord to do something, it may be done by a person
authorised by the Landlord.

(10) Section 105 and 107 of the Property Law Act 1974 do not apply to this Tenancy.

2. TERM AND HOLDING OVER

2.1 Term

The Landlord lets the Premises to the Tenant for the Term.

2.2 Monthly Tenancy

If the Tenant continues to occupy the Premises after the Term with the Landlord’s consent then:

(1) the Tenant does so as a monthly tenant on the same basis as at the last day of the Term; and

(2) either party may terminate the monthly tenancy by giving to the other 1 month’s notice expiring
on any day.

3. RENT AND RENT REVIEWS

3.1 Rent

The Tenant must:

(1) pay the Rent by equal monthly instalments in advance on the first day of each month;

(2) pay the first instalment on the signing of this agreement;

(3) if necessary, pay the first and last instalments apportioned on a daily basis; and

(4) pay all instalments as the Landlord directs.

3.2 Definitions

In clause 3.3:

(1) “Index Number” means the consumer Price Index (All Groups) for Brisbane published by the
Australian Bureau of Statistics. If that index no longer exists, “Index Number” means an index that
the president of the REIQ decides best reflects changes in the cost of living in Brisbane; and

(2) “Review Date” means a date stated in the Reference Schedule on which the rent is to be
reviewed.

3.3 Rent Review

(1) Application

This clause 3.3 applies if Review Dates are inserted in item 7 of the Reference Schedule.

(2) Review

The Rent must be reviewed on each Review Date to an amount represented by A where:

	 	 	 	 	 	 	 
	 

	 	A=
	 	B
	 	x D
	 

	 	 	 	 	 	 
	 

	 	 	 	C	 	 

Where B = the Index Number for the quarter ending immediately before the relevant Review Date.

Where C = the Index Number for the quarter 1 year before the quarter in B; and

Where D = the Rent payable immediately before the Review Date.

4. OUTGOINGS

4.1 Tenant to Pay Outgoings

 

 

(1) The Tenant must pay the Landlord the whole, or where a percentage is stated in Item 9 of the
Reference Schedule that percentage of the Outgoings for the Premises, or the property of which the
Premises Is part as applicable.

(2) Outgoings are payable to the Landlord within 14 days of production to the Tenant of a copy of
the Landlord’s assessment notice or account.

4.2 Outgoings

For the purposes of this clause Outgoings means the following charges levied or expenses payable in
respect of the Premises or property of which the Premises Is part:

(1) rates and other charges levied pursuant to a law (other than land tax):

(2) insurance premiums payable by the Landlord;

(3) the cost of cleaning any areas adjacent to the Premises that are used by the Tenant; and

(4) maintaining any gardens on the Land.

5. USE OF THE PREMISES

5.1 Permitted Use

The Tenant must only use the Premises for the Permitted Use

5.2 Restrictions on Use

The Tenant must not:

(1) disturb the occupants of adjacent premises; (2) display any signs without the Landlord’s
consent which must not be unreasonably withheld;

(3) overload any Services;

(4) damage the Landlord’s Property:

(5) alter the Premises, install any partitions or equipment or do any building work without the
Landlord’s prior consent;

(6) do anything that may Invalidate the Landlord’s insurance or increase the Landlord’s premiums;
or

(7) do anything illegal on the Premises.

6. MAINTENANCE AND REPAIR

6.1 Repair

The Tenant must:

(1) keep the Premises in good repair and condition except for fair wear and tear, inevitable
accident and inherent structural defects; and

(2) fix any damage caused by the Tenant or the Tenant’s Employees.

6.2 Cleaning and Maintenance

The Tenant must:

(1) keep the Premises clean and tidy; and

(2) keep the Tenant’s Property clean and maintained in good order and condition.
6.3 Landlord’s Right to Inspect and Repair

(1) The Landlord may enter the Premises for inspection or to carry out maintenance, repairs or
building work at any reasonable time after giving notice to the Tenant. In an emergency, the
Landlord may enter at any time without giving the Tenant notice.

(2) The Landlord may carry out any of the Tenant’s obligations on the Tenant’s behalf if the Tenant
does not carry them out on time. If the Landlord does so, the Tenant must promptly pay the
Landlord’s costs.

7. ASSIGNMENT AND SUBLETTING

7.1 The Tenant must obtain the Landlord’s consent before the Tenant assigns, sublets or deals with
Its Interest in the Premises.

7.2 The Landlord must give its consent if:

(1) the Tenant satisfies the Landlord that the new tenant is financially secure and has the ability
to carry out the Tenant’s obligations under this Tenancy;

 

 

(2) the new tenant signs any agreement and gives any security which the Landlord reasonably
requires;

(3) the Tenant complies with any other reasonable requirements of the Landlord;

(4) the Tenant is not in breach of the Tenancy; and

(5) the Tenant pays the Landlord’s reasonable costs of giving its consent.

8. TENANTS RELEASE AND INDEMNITY

8.1 The Tenant occupies and uses the Premises at its own risk. The Tenant also carries out building
work in the Premises at its risk.

8.2 The Tenant releases the Landlord from and indemnifies it against all Claims for damages, loss,
injury or death:

(1) If it:

(a) occurs in the Premises;

(b) arises from the use of the Services in the Premises; or

(C) arises from the overflow or leakage of water from the Premises;
except to the extent that it is caused by the Landlord’s deliberate act or negligence; and

(2) if it arises from the negligence or default of the Tenant or the Tenant’s Employees, except to
the extent that it is caused by the Landlord’s deliberate act or negligence.

8.3 The Landlord must do everything reasonable to ensure the Services operate efficiently during
normal working hours but the Landlord is not liable if they do not.

8.4 The Tenant releases the Landlord from and indemnifies the Landlord against any Claim or costs
arising from anything the Landlord is permitted to do under this Tenancy.

9. DEFAULTANDTERMINATION

9.1 Default

The Tenant defaults under this Tenancy if:

(1) the Rent or any money payable by the Tenant is unpaid for 14 days;

(2) the Tenant breaches any other term of this Tenancy;

(3) the Tenant assigns its property for the benefit of creditors; or

(4) the Tenant becomes an externally-administered body corporate within the meaning of the
Corporations Law.

9.2 Forfeiture of Tenancy

If the Tenant defaults and does not remedy the default when the Landlord requires it to do so, the
Landlord may do any one or more of the following:

(1) re-enter and take possession of the Premises; (2) by notice to the Tenant, terminate this
Tenancy; (3) by notice to the Tenant, convert the unexpired portion of the Term into a tenancy from
month to month; (4) exercise any of its other legal rights;

(5) recover from the Tenant any loss suffered by the Landlord due to the Tenant’s default.

10. TERMINATION OF TERM

10.1 Tenant’s Obligations

At the end of the term the Tenant must:

(1) vacate the Premises and give them back to the Landlord in good repair and condition;

(2) remove all the Tenant’s Property from the Premises;

(3) repair any damage caused by removal of the Tenant’s Property and leave the Premises clean; and

(4) return all keys, security passes and cards held by it or the Tenant’s Employees.

10.2 Failure to Remove Tenant’s Property

If the Tenant does not remove the Tenant’s Property at the end of the Term, the Landlord may:

(1) remove and store the Tenant’s Property at the Tenant’s risk and expense; or

 

 

(2) treat the Tenant’s Property as abandoned, in which case title in the Tenant’s Property passes
to the Landlord who may deal with it as it thinks fit without being liable to account to the
Tenant.

11. DAMAGE AND DESTRUCTION

11.1 Rent Reduction

If the Premises are damaged or destroyed and as a result the Tenant cannot use or gain access to
the Premises then from the date that the Tenant notifies the Landlord of the damage or destruction
the Landlord:

(1) must reduce the Rent and any other money owing to the Landlord by a reasonable amount depending
on the type and extent of damage or destruction; and

(2) cannot enforce clause 6.1 against the Tenant; until the Premises are fit for use or accessible.

11.2 Tenant may Terminate

The Tenant may terminate this Lease by notice to the Landlord unless the Landlord:

(1) within 3 months of receiving the Tenant’s notice of termination, notifies the Tenant that the
Landlord will reinstate the Premises; and

(2) carries out the reinstatement works within a reasonable time.

11.3 Exceptions

Clauses 11.1 and 11.2 do not apply where:

(1) the damage or destruction was caused by or contributed to, or arises from any wilful act of the
Tenant or the Tenant’s Employees; or

(2) an insurer under any policy effected by the Landlord refuses indemnity or reduces the sum
payable under the policy because of any act or default of the Tenant or the Tenant’s Employees.

11.4 Landlord May Terminate

If the Landlord considers the damage to the Premises renders it impractical or undesirable to
reinstate the Premises or the Building, it may terminate this Lease by giving the Tenant at least 1
month’s notice ending on any day of the month. At the end of that month’s notice, this Lease ends.

11.5 Dispute Resolution

(1) Any dispute under this clause 11 must be determined by an independent qualified Valuer
appointed by the president of the REIQ at the request of either party.

(2) In making the determination, the Valuer acts as an expert and the determination is final and
binding on both parties.

(3) The cost of the determination must be paid by the parties equally unless otherwise decided by
the Valuer.

11.6 Landlord Not Obliged to Reinstate

(1) Nothing in this Lease obliges the Landlord to reinstate the Building or the Premises or the
means of access to them.

(2) When reinstating the Building or the Premises, the Landlord is entitled to change their design,
fabric, character or dimensions to comply with any law or lawful requirement.

11.7 Antecedent Rights

Termination under this clause 11 does not effect either parties’ accrued rights before termination.

12. STAMP DUTY

12.1 The Tenant must pay all stamp duty and other government imposts payable in connection with
this Agreement and all other documents and matters referred to in this Agreement when due or
earlier if requested in writing by the Landlord.

 

 

13. GOODS AND SERVICES TAX

13.1 If a GST is imposed on any supply made to the Tenant under or in accordance with this Tenancy,
the amount the Tenant must pay for that supply is increased by the amount of that GST.

14. OPTION FOR FURTHERTENANCY

14.1 If a further term has been inserted in item 5 of the Reference Schedule and the Tenant:

(1) wishes to lease the Premises for the further term;

(2) gives notice to that effect to the Landlord not less than 3 months before and not more than six
months before the Term expires; and

(3) has not breached this Tenancy;

the Landlord must grant a further tenancy (“Further Tenancy”) to the Tenant on the same terms as
this Tenancy except for the Rent.

14.2 (1) The Rent for the Further Tenancy will be an amount to be agreed between the Landlord and
Tenant and failing agreement 3 months before the Term expires the market rent for the Premises
determined by an independent qualified Valuer (acting as an expert) nominated by the president of
the REIQ at the request of either party.

(2) The Valuer’s determination is final and binding on the parties.

(3) The Valuer’s costs must be paid by the Landlord and Tenant equally. Either party may pay the
Valuer’s cost and recover one-half of the amount paid from the other party.

14.3 Before transferring any interest in the Land, the Landlord must obtain a signed deed from the
transferee containing covenants in favour of the Tenant that the transferee will be bound by the
terms of this Lease and will not transfer its interest in the Land unless it obtains a similar deed
from its transferee.

14.4 This clause 14 will be omitted from the Further Tenancy.

15. DEPOSIT AND COMMISSION

15.1 The Tenant must pay the Deposit to the Landlord’s Agent on signing this Agreement.

15.2 The Deposit must be applied against the Rent payable by the Tenant on the commencement of the
Term.

15.3 The Landlord agrees to pay the Agent’s commission to the Landlord’s Agent and authorises the
Agent to draw the commission on the commencement of the Term from money received from the Tenant in
payment of Rent.

16. NOTICES

16.1 Any notice required to be given to any person under this Agreement must be:

(1) in writing: and

(2) given in accordance with section 347 of the “Property Law Act 1974”exv10w26

 

Exhibit 10.26

LEASE

New South Wales

Real Property Act 1900

PRIVACY NOTE: Section 31B of the Real Property Act 1900 (RP Act) authorises the Registrar General
to collect the information required by this form for the establishment and maintenance of the Real
Property Act Register. Section 96B RP Act requires that the Register is made available to any
person for search upon payment of a fee, if any.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	STAMP DUTY	 	Office of State Revenue use only
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	(A)	 	 	 	 	 	TORRENS TITLE	 	Property leased: if appropriate, specify the part or premises

Part Folio Identifier 101/1024311

being Suite 1.01, Level 1, 22-28 Edgeworth David Avenue, Hornsby
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	(B)	 	 	 	 	 	LODGED BY	 	Document Collection

Box

272N	 	Name, Address or DX and Telephone	 	CODE
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	LLPN:
	 	E&A LAYWERS
	 	L
	 

	 	 	 	 	 	 	 	 	 	123177 U
	 	DX 9007 MONA VALE	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Tel: (02) 9997 2111
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	Reference
	 	DS/260839	 	 
	 

	 	 	 	 	 	 	 	 	 	(optional):	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	(C)	 	 	 	 	 	LESSOR	 	GPF NO. 3 PTY (ACN 103 235 187)
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	The lessor leases to the lessee the property referred to above.
	 
	(D)	 	 	 	 	 	 	 	Encumbrances (if applicable):
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	(E)	 	 	 	 	 	LESSEE	 	ROYAL WOLF TRADING AUSTRALIA PTY LIMITED (ACN 069 244 417)
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	(F)	 	 	 	 	 	 	 	TENANCY: Not applicable
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	(G)	 	 	1.	 	 	TERM:	 	Four (4) years two (2) months
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	2.	 	 	COMMENCING DATE:	 	1 October 2006
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	3.	 	 	TERMINATING DATE:	 	30 November 2010
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	4.	 	 	With an OPTION TO RENEW for a period of not applicable set out in clause No.N.A. of n/a
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	5.	 	 	With an OPTION to PURCHASE set out in clause No. N.A. of n/a
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	6..	 	 	Together with and reserving the RIGHTS set out in clause No. N.A. of n/a
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	7.	 	 	Incorporates the provisions or additional material set out in ANNEXURE(S) SCHEDULE hereto.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	8.	 	 	Incorporates the provisions set out in MEMORANDUM filed/LEASE registered in the Department of Lands, Land and Property Information Division as No. n/a
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	9.	 	 	The RENT is set out in item 1 of Schedule
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	(H)	 	 	 	 	 	Certified correct for the purposes of the Real Property Act 1900 by the corporation named
below the common seal of which was affixed pursuant to the authority specified and in the
presence of the authorised person(s) whose signature(s) appears(s) below.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Corporation:	 	GPF NO.3 PTY LTD (ACN 103 235 187)	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Authority:	 	Section 127 of the Corporations Act 2001	 	 

 

	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Signature of

 authorised
 person:
	 	

/s/ Leslie James Towell 	 	Signature of
 authorised

 person:	 	

/s/ Anthony Charles Veale 	 	 
	 

	 	 	 	 

	 	 	 	 

	 	 
	 

	 	Name of authorised person:
	 	

Leslie James Towell 	 	Name of authorised person:	 	

Anthony Charles Veale 	 	 
	 

	 	 	 	 

	 	 	 	 

	 	 
	 

	 	Office held:
	 	 	 	Office held:	 	 	 	 
	 

	 	 	 	 

	 	 	 	 

	 	 

Certified correct for the purposes of the Real Property Act 1900 by the corporation named below the
common seal of which was affixed pursuant to the authority specified and in the presence of the
authorised person(s) whose signature(s) appears(s) below.

	 	 	 	 	 	 	 	 	 
	Corporation

	 	ROYAL WOLF TRADING
 AUSTRALIA
PTY. LIMITED
(ACN 069 244 417)	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Authority:

	 	Section 127 of the Corporations Act 2001	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Signature of

 authorised person:

	 	 	 	Signature of authorised

 person:	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 
	Name of

 authorised

 person:

	 	 	 	Name of authorised

 person:

	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 
	Office held:

	 	 	 	Office held:	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 

	 	 	 	 	 
	(I)

	 	 	 	STATUTORY DECLARATION*
	 
	 	 	 	 
	 

	 	 
	 	I, solemnly and sincerely declare that -
	 
	 	 	 	 
	 

	 	 	 	1.  The time for the exercise of option to renew/purchase in expired lease No.                      has ended;
	 
	 	 	 	 
	 

	 	 	 	2.  The leasee under that lease has not exercised the option.
	 
	 	 	 	 
	 

	 	 	 	I make this solemn declaration conscientiously believing the same to be true and by virtue of the provisions of the Oaths Act 1900 and I certify this
application correct for the purposes of the Real Property Act 1900.

Made and subscribed at                      in the State of New South Wales on                                         
in the presence of: 

	 	 	 
	Signature of witness:

	 	Signature of lessor:
	 
	 	 
	Name of witness:
	 	 
	 
	 	 
	Address of witness:
	 	 
	 
	 	 
	Qualification of witness:         Justice of Peace                  Practising Solicitor                 Other [specify]
	 	 

 

			
	*	 	As the Department of Lands may not be able to
provide the services of a justice of the peace or other qualified witness, the
statutory declaration should be signed and witnessed prior to lodgment of the
form at Land and Property Information Division.

 

 

This is the Schedule referred to in the Lease between

GPF NO.3 PTY LTD (ACN 103 235 187)

and

ROYAL WOLF TRADING AUSTRALIA PTY LIMITED (ACN 069 244 417)

of the premises known as suite 1.01, Level 1, 22-28 Edgeworth David Avenue

Hornsby

Contents

	1.	 	Interpretation
	 
	2.	 	Rent
	 
	 	 	Fixed increase in rent
	 
	3.	 	Consumer price index adjustment
	 
	4.	 	Market review of rent
	 
	 	 	Disputes over rent review
	 
	 	 	Adjustments
	 
	 	 	Rent not to decrease
	 
	5.	 	Outgoings and other payments
	 
	 	 	Tenant’s Contribution to Outgoings
	 
	 	 	Payments on account of Tenant’s Contribution
	 
	 	 	Notice of actual Outgoings
	 
	 	 	Adjustments
	 
	 	 	Variation of Lettable Area
	 
	 	 	Services outside hours
	 
	 	 	Cleaning
	 
	6.	 	Payment requirements
	 
	 	 	Interest on overdue money
	 
	7.	 	Insurances

 

 

	8.	 	Indenmities and releases
	 
	9.	 	Use and business hours
	 
	10.	 	Tenant’s additional obligations
	 
	11.	 	Cleaning the premises
	 
	12.	 	Repair, redecoration and tenant’s works
	 
	 	 	Landlord’s approval
	 
	 	 	Tenant’s works
	 
	 	 	Repair of items
	 
	 	 	Repair, replace and redecorate
	 
	 	 	Structural work
	 
	13.	 	Transfer and other dealings
	 
	 	 	Prohibited dealings
	 
	 	 	Transfer conditions
	 
	 	 	Change in control of Tenant
	 
	 	 	Securities
	 
	14.	 	Landlord’s additional obligations and rights
	 
	 	 	Quiet enjoyment
	 
	 	 	Consents
	 
	 	 	Rights
	 
	 	 	To Enter
	 
	 	 	Prospective tenants or purchasers
	 
	 	 	Access to Building
	 
	 	 	Enforcing rights and no exclusive use
	 
	 	 	To deal with the Land
	 
	 	 	Change of landlord

 

 

	 	 	Landlord may rectify
	 
	 	 	Agents
	 
	 	 	Common Areas
	 
	 	 	Rules
	 
	15.	 	Expiry or termination
	 
	 	 	Tenant to vacate
	 
	 	 	No removal of certain items
	 
	 	 	Removal of Tenant’s Property
	 
	 	 	If Tenant’s Property not removed
	 
	16.	 	Holding over
	 
	17.	 	Damage to building or premises
	 
	 	 	Abatement of payments
	 
	18.	 	Default
	 
	 	 	Essential terms
	 
	 	 	Landlord’s right to terminate
	 
	19.	 	Costs, charges and expenses
	 
	20.	 	Notices
	 
	21.	 	Miscellaneous
	 
	 	 	Waiver and variation
	 
	 	 	Approvals
	 
	 	 	Exclusion of statutory provisions
	 
	 	 	Prior breaches
	 
	 	 	Caveats
	 
	 	 	Warranties and undertakings
	 
	 	 	Counterparts

 

 

	22.	 	Disputes
	 
	 	 	Legal proceedings conditional
	 
	 	 	Notice of dispute
	 
	 	 	Referral of dispute
	 
	 	 	Enquiries
	 
	 	 	Costs
	 
	23.	 	Bank guarantee
	 
	24.	 	Guarantee and indemnity
	 
	 	 	Guarantee
	 
	 	 	Indenmity
	 
	 	 	Interest
	 
	 	 	Enforcement of rights
	 
	 	 	Continuing security
	 
	 	 	Guarantee not affected
	 
	 	 	Suspension of Guarantor’s rights
	 
	 	 	Reinstatement of guarantee
	 
	 	 	Assignment
	 
	 	 	Costs
	 
	25.	 	Option for a new lease
	 
	26.	 	GST
	 
	27.	 	Strata Conversion
	 
	28.	 	Re development

REFERENCE

 

 

SCHEDULE

	 	 	 
	Item 1
	 	Rent
	(definition of Rent in clause 1.1
	 	 
	and clause 2)
	 	 
	 
	 	 
	 
	 	$54,843.12 per annum exclusive of GST
	 
	 	 
	Item 2
	 	Day of month on which rent instalments are due
	(definition of Rent Day in clause
	 	First
	1.1 and clause 2)
	 	 
	 
	 	 
	Item 3
	 	Fixed Percentage Increase
	(clause 2.3)
	 	1 December 2008 - 3%
	 
	 	1 December 2009 — 3%
	 
	 	 
	Item 4
	 	CPI Adjustment Dates
	(definition of CPI Adjustment Date
	 	Not applicable
	in clause 1.1 and clause 3)
	 	 
	 
	 	 
	Item 5
	 	Market Review Dates
	(definition of Market Review Date
	 	1 December 2007
	1 December 2007 in clause 1.1 and
	 	 
	clause 4)
	 	 
	 
	 	 
	Item 6
	 	Tenant’s percentage of total Outgoings
	(definition of Tenant’s Contribution
	 	 
	5.90% in clause 1.1and clause 5)
	 	 
	 
	 	 
	Item 7
	 	Public liability insurance
	(clause 7)
	 	$10,000,000.00
	 
	 	 
	Item 8
	 	Permitted Use
	(definition of permitted Use in
	 	Commercial Offices
	Commercial Offices clause 1.1 and
	 	 
	clause 9)
	 	 
	 
	 	 
	Item 9
	 	Restricted access hours
	(clause 5.9)
	 	Monday to Friday — 8.30 a.m. to 6.00 p.m.
	 
	 	 
	Item 10
	 	Redecoration requirements and dates
	(clause 12)
	 	(a)           Redecoration required on each redecoration date:
	 
	 	          (i)            wash down the inside surfaces of the Premises; and

 

 

	 	(ii)	 	paint (with 2 coats of paint) all surfaces
inside the Premises in the same way that those
surfaces were painted at the Commencement Date.

	 	(b)	 	Redecoration dates: 

Upon :ease expiry.

	 	 	 
	Item 11

	 	Landlord’s address for service
	(clause 20)

	 	Suite 701
	Address:

	 	25 Bligh Street
	 

	 	SYDNEY NSW 2000
	 

	 	Ph: 9223 4222
	 

	 	Fax: 9223 0022
	 
	 	 
	Address:

	 	Tenant’s address for service:
	 

	 	Suite 1.01 Level I
	 

	 	22-28 Edgeworth David Avenue, HORNSBY NSW 2077
	 
	 	 
	Facsimile No:
	 	 
	 
	 	 
	Item 12

	 	Bank Guarantee
	(definition of Bank
Guarantee in clause
1.1 and clause 23)

	 	An amount equal to the sum of 3 months of Rent,
Tenant’s Contribution and any licence fee under a
carpark licence between the Landlord and the Tenant
(plus GST, where applicable).
	 
	 	 
	Item 13
	 	Guarantor
	(definition of
Guarantor in clause
1.1 and clause 24)

	 	
Not applicable.
	 
	 	 
	Item 14

	 	Particulars of new lease
	(clause 25)

	 	Not applicable.

     The Tenant agrees with the Landlord as follows.

	1.	 	Interpretation

     1.1 The following words have these meanings unless the contrary intention appears. Item
numbers referred to are those in the reference schedule. Other definitions are on the cover sheet.

     Bank Guarantee means an unconditional undertaking (or any replacement or addition to it under
clause 23) by a bank and on terms acceptable to the Landlord acting reasonably to pay on demand the
amount in item 12.

 

 

     Building means the commercial office building on the Land and all other improvements (other
than the Tenant’s Property) on the Land.

     Common Areas means those parts of the Land or Building which the Landlord intends for common
use.

     Consumer Price Index means the Sydney — All Groups index or the index officially substituted
for it.

     CPI Adjustment Date means each date in item 4.

     Current CPI means the Consumer Price Index number for the quarter ending immediately before
the relevant CPI Adjustment Date.

     Guarantor means the person or persons (if any) names in item 13 and if two or more persons are
named, the reference to “Guarantor” is a reference to them jointly and each of them severally.

     Land means the land described on the cover sheet, on which the Building is situated and any
other land which the Landlord uses with the Land for a commercial office building, a parking area
or other related undertaking.

     Lettable Area means the net lettable area calculated by the Landlord’s surveyor using the
method of measurement of the Property Council of Australia Limited applicable at the Commencement
Date.

     Market Review Date means each date in item 5.

     Outgoings means all amounts paid or payable by the Landlord for an Outgoings Year in
connection with the Land or the Building (other than the cost of structural works) including those
for:

          (a) rates, land taxes (on the basis that the Land is the only land owned by the Landlord and
is not subject to a trust) and other charges imposed by any authority; and

          (b) levies and charges imposed under the Community Land Management Act 1989 (except those for
the sinking fund or extraordinary levies for work of a capital or structural nature) or similar
legislation; and

          (c) taxes (except income or capital gains tax), levies, imposts, deductions, charges,
withholdings and duties imposed by any authority; and

          (d) insurance which the Landlord reasonably considers is appropriate (including for loss of
rent); and

          (e) cleaning the Land and Building (except for those parts which are let) and keeping them
free of vermin and refuse and supplying items usually supplied in washroorns and toilets; and

 

 

          (f) indoor and outdoor gardening and landscaping; and

          (g) caretaking services, security and regulating traffic; and

          (h) management, administration and marketing; and

          (i) supplying, maintaining, repairing and replacing Services and upgrading them to comply with requirements of authorities and all laws; and

          (j) the supply of Services which are not separately metered to an occupier; and

          (k) repairs, redecoration and maintenance which no occupier is obliged to do; and

          (l) providing, maintaining and repairing signs, directory boards and information systems.

     Outgoings Year means the 12 month period ending on 30 June in each year or on another day specified in a notice the Landlord gives to the Tenant.

     Permitted Use mans the use in item 8.

     Premises means that part of the Building described as premises on the cover sheet, the boundaries of which are:

          (m) the inside surface of the walls (under any paint or wall covering); and

          (n) the lower surface of the ceiling (above any false or suspended ceiling); and

          (o) the upper surface of the floor (under any floor covering). The Premises include the Landlord’s Property.

     Previous CPI means the Consumer Price Index number for the quarter ending immediately before the last Market Review Date or CPI Adjustment Date (or, if there has not been one, the Commencement Date).

     Rent means the yearly amount in item I as varied under this lease.

     Rent Day means the Commencement Date and, for each month, the day in item 2.

     Rules means the rules of the Building set out in annexure 1 as varied or added to under this lease.

     Services means the services (such as water, sewerage, drainage, gas, electricity, airconditioning, fire fighting and lifts) to or of the Building or the Land provided by authorities or the Landlord or any person authorised by the Landlord.

 

 

     Tenant’s Business mans the business carried on from the Premises. Tenant’s Contribution
means for an Outgoings Year:

     

     Where:

	 	 	 	 	 	 	 
	 

	 	TP
	 	=
	 	the percentage in item 6 as varied under this lease
	 
	 	 	 	 	 	 
	 

	 	N
	 	 	 	the number of days of the Term in that Outgoings Year
	 
	 	 	 	 	 	 
	 

	 	A
	 	=
	 	the Outgoings for that Outgoings Year
	 
	 	 	 	 	 	 
	 

	 	Y
	 	=
	 	the number of days in that Outgoings Year

     Tenant’s Employees and Agents means each of the Tenant’s employees, officers, agents,
contractors and invitees.

     Tenant’s Property means all property on the Premises which is not Landlord’s Property or
Services.

     Term means the period from and including the Commencement Date to and including the Expiry
Date.

     1.2 Unless the contrary intention appears:

          (a) the singular includes the plural and vice versa; and

          (b) “person” includes a firm, a body corporate, an unincorporated association or an authority;
and

          (c) an agreement, representation or warranty:

               (i) in favour of two or more persons is for the benefit of them jointly and severally; and

               (ii) on the part of two or more persons binds them jointly and severally; and

          (d) a reference to:

               (i) a person includes the person’s executors, administrators, successors, substitutes
(including persons taking by novation) and assigns; and

               (ii) a document includes any variation or replacement of it; and

               (iii) a law includes regulations and other instruments under it and amendments or replacement
of any of them; and

 

 

               (iv) a thing includes the whole and each part of it; and

               (v) a group of persons includes all of them collectively, any two or more of them collectively
and each of them individually; and

               (vi) the president of a body or authority includes an person acting in that capacity; and

          (e) “include” (in any form) when introducing a list of items does not limit the meaning of the
words to which the list relates to those items or to items of a similar kind.

2. Rent

     2.1 The Tenant must pay the Rent by equal monthly instalments in advance on each Rent Day.

     2.2 If an instalment is for a period of less than one month, then that instalment is that
proportion of one twelfth of the Rent which the number of days in the period bears to the number of
days in the month in which that period begins.

Fixed increase in rent

     2.3 The Rent increases from and including each of the dates in item 3 by the percentage set
out against the date.

3. Consumer Price Index Adjustment

     3.1 If the Current CPI, for a CPI Adjustment Date, is more than the Previous CPI and the
Landlord gives the Tenant a notice requiring the Consumer Price Index adjustment of the Rent, then
the Rent from and including that CPI Adjustment Date is the Rent immediately before that CPI
Adjustment Date multiplied by the Current CPI and divided by the Previous CPI.

     3.2 On the first Rent Day after the Landlord gives the Tenant the notice, the Tenant must pay
the difference between what the Tenant has paid on account of Rent and the Rent for the period from
and including the relevant CPI Adjustment Date to but excluding that Rent Day.

4. Market Review of Rent

     4.1 The Landlord may give the Tenant a notice stating the Landlord’s assessment of the current
annual market rent of the Premises on a Market Review Date at any time before the CPI Adjustment
Date or Market Review Date immediately after the relevant Market Review Date.

     4.2 If the Tenant wants to dispute the Landlord’s notice, it must give a dispute notice to the
landlord within 30 days after the Landlord gives its notice.

     4.3 If the Tenant does not give a dispute notice on time, the Rent from and including the
relevant Market Review Date is the amount stated in the Landlord’s notice.

 

 

Disputes over rent review

     4.4 If the Tenant gives a dispute notice on time, the Rent is decided under clause Until then
the Tenant must pay, by equal monthly instalments on account of the Rent from the relevant Market
Review Date, the Rent immediately before the relevant Market Review Date and 80% of the increase
sought by the Landlord.

     4.5 The current annual market rent of the Premises on the relevant Market Review Date must be
decided by a valuer who:

          (a) is appointed by the parties (and if they do not agree on whom to appoint within 14 days
after the Tenant gives the dispute notice then that valuer is to be nominated at either party’s
request by the president of the New South Wales division of the Australian Property Institute
(Incorporates); and

          (b) is a full member of at least five years’ standing of the Australia Property Institute
(Incorporated); and

          (c) at the time of appointment is both experienced and actively engaged in valuing commercial
office premises in commercial office buildings; and

          (d) must be instructed to:

               (i) decide what is the current annual market rent of the Premises on the relevant Market
Review Date (disregarding the goodwill of the Tenant’s Business and the value of any fit out in the
Premises paid for by the Tenant); and

               (ii) give a written valuation setting out what was taken into account, what was disregarded,
their respective weightings and any other adjustments; and

          (e) acts as an expert and not as an arbitrator and, subject to clause 4.8, whose decision is
final and binding; and

          (f) decides who must pay the valuer’s costs and in what proportion if they are to be shared.

     The amount decided by the valuer is, subject to clause 4.8, the Rent from and including the
relevant Market Review Date.

Adjustments

     4.6 On the first Rent Day after the Rent is agreed or decided under this clause 4, the Tenant
must pay the Landlord (or the Landlord must credit the Tenant with) the difference between what the
Tenant has paid on account of Rent and the Rent for the period from and including the relevant
Market Review Date to but excluding that Rent Day.

     4.7 If a Market Review Date and a CPI Adjustment Date fall on the same date, the Landlord may
treat the date as either a Market Review Date or a CPI Adjustment Date.

 

 

Rent not to decrease

     4.8 Despite the other provisions of this clause 4, the Rent from a Market Review Date must not
be less than the Rent immediately before that Market Review Date.

5. Outgoings and Other Payments

Tenant’s Contribution to Outgoings

     5.1 The Tenant must pay the Tenant’s Contribution for each Outgoings Year.

Payments on Account of Tenant’s Contribution

     5.2 The Landlord must give the Tenant a notice for each Outgoings Year stating the Landlord’s
estimates of the Outgoings, the Tenant’s Contribution for that Outgoings Year and reasonable
details of how the estimates are arrived at.

     5.3 The Tenant must pay instalments in advance on each Rent Day on account of the Tenant’s
Contribution. Each instalment is the Landlord’s estimate of the Tenant’s Contribution for the
Outgoings Year divided by the number of Rent Days in that Outgoings Year.

     5.4 The Tenant need not pay instalments for the first Outgoings Year until the Landlord gives
it a notice stating its estimates of the Outgoings and of the Tenant’s Contribution for that
Outgoings Year.

     5.5 In each Outgoings Year after the first, until the Landlord gives the Tenant a notice of
the Landlord’s estimates for that Outgoings Year, the Tenant must pay on each Rent Day, on account
of the Tenant’s Contribution, an instalment equal to that payable on the previous Rent Date.

Notice of Actual Outgoings

     5.6 As soon as possible after the end of an Outgoings Year the Landlord must give the Tenant a
notice giving reasonable details of the actual Outgoings.

Adjustments

     5.7 On the next Rent Day after the Landlord gives the Tenant a notice of either estimated or
actual Outgoings, the Tenant must pay the Landlord (or the

     Landlord must credit the Tenant with) the difference between what the Tenant has paid on
account of the Tenant’s Contribution for the Outgoings Year to which the notice applies and what
the notice says is payable.

Variation of Lettable Area

     5.8 From and including the date that the Landlord is satisfied that the Lettable Area of the
Building or the Premises or both is varied, the percentage in item 6 becomes the proportion
(expressed as a percentage) obtained by dividing the Lettable Area of the Premises by the
Lettable Area of the Building on that date. The Landlord must give the Tenant a notice that
the percentage in item 6 is varied and from what date.

 

 

Services Outside Hours

     5.9 If, at the Tenant’s request, the Landlord makes Services available to the Land, the
Building or the Premises during the hours of restricted access set out in item 9, then the Tenant
must pay the Landlord’s reasonable costs, charges and expenses of making the Services available
within seven days after the Landlord asks the Tenant for them.

Cleaning

     5.10 The Tenant must pay the Landlord’s costs of providing a cleaning service to the Premises
(if the Landlord provides that service).

6. Payment Requirement

     6.1 The Tenant must make payments under this lease to the Landlord (or to a person nominated
by the Landlord in a notice to the Tenant) by the method the Landlord reasonably requires without
set-oft, counterclaim, withholding or deduction.

     6.2 If the Tenant pays an amount and it is found later that the amount was not correct, then
even if the Landlord has given the Tenant a receipt, the Tenant must pay the Landlord (or the
Landlord must credit the Tenant with) the difference between what the Tenant has paid and what the
Tenant should have paid within seven days after either party gives the other a notice about the
mistake.

     6.3 The Landlord need not make demand for any amount payable by the Tenant unless this lease
says that demand must be made.

     6.4 If the Tenant must pay an amount on the next Rent Day and there is no next Rent Day, then
the Tenant must pay that amount within seven days after the Landlord demands it.

     6.5 Expiry or termination of this lease does not affect the Tenant’s obligations to make
payments under this lease for period before then.

     6.6 Each payment by the Tenant must be made with an additional amount equal to any goods and
services, consumption, value added or similar tax applying to that payment.

Interest on Overdue Money

     6.7 If the Tenant does not pay any amount payable by it under this lease on time, it must pay
interest on that amount on demand by the Landlord from when it becomes due for payment until it is
paid. Interest is calculated on daily balances at a rate 2% per annum above the rate quoted on the
day of demand by the Landlord’s bankers (as nominated by the Landlord) on unsecured overdraft
accommodation over $100,000.00.

 

 

7. Insurances

     7.1 The Tenant must:

          (a) in connection with the Premise, maintain with insurers and on terms (including a cross
liability and waiver of subrogation clause) approved by the Landlord (who may not unreasonably
withhold its approval) in the names of the Tenant, the Landlord and any other person named by the
Landlord;

               (i) public liability insurance for at least the amount in item 7 (as varied by notice from the
Landlord to the Tenant); and

               (ii) plate glass insurance against all risks specified by the Landlord; and

               (iii) other insurances which are required by law or which, in the Landlord’s reasonable
opinion, a prudent tenant would take out including those in connection with Tenant’s works on the
Premises; and

          (b) give the Landlord evidence when asked to do so that it has complied with clause 7.1(a)
when asked to do so; and

          (c) notify the Landlord immediately if an insurance policy required by this clause 7.1 is
cancelled or an event occurs which may allow a claim or affect rights under an insurance policy in
connection with the Premises, the Building or property in them.

     7.2 The Tenant may not enforce, conduct, settle or compromise claims under any insurance
policy required by this lease, even if that policy also covers other property, if the Landlord
gives the Tenant a notice that the Landlord wishes to do these things.

     7.3 The Tenant may not do anything which may affect rights under any insurance or which may
increase an insurance premium payable in connection with the Premises, the Building or property in
them.

     7.4 Insurance proceeds (even if of a policy in the Tenant’s name only in breach of clause
7.1(a)) which the insurer does not require to be used for replacement or reinstatement must be paid
into a separate joint account in the names of the Landlord, the Tenant and, if required by the
Landlord, any other person. The money must be used to settle claims in connection with the event
insured against or to replace or reinstate the insured item and then any surplus shared between the
account holders having regard to the effect on them of that event or their respective interests in
that item.

8. Indemnities and Releases

     8.1 The Tenant is liable for and indeinnifies the Landlord against liability or loss arising
from, and cost incurred in connection with:

          (a) damage, loss, injury or death caused or contributed to by the act, negligence or default
of the Tenant or of the Tenant’s Employees and Agents; and

 

 

          (b) the Landlord doing anything which the Tenant must do under this lease but has not done or
which the Landlord considers the Tenant has not done properly.

     8.2 The Tenant releases the Landlord from, and agrees that the Landlord is not liable for,
liability or loss arising from, and cost incurred in connection with:

          (a) damage, loss, injury or death unless it is caused by the Landlord’s act, negligence or
default; and

          (b) anything the Landlord is permitted or required to do under this lease; and

          (c) if the Landlord has complied with clause 14.2:

               (i) a Service not being available, being interrupted or not working properly; and

               (ii) the Landlord’s plant and equipment not working property; and

          (d) the Common Areas not being clean.

     8.3 Each indemnity is independent from the Tenant’s other obligations and continues during
this lease and after it expires or is terminated. The Landlord may enforce an indemnity before
incurring expense.

9. Use and Business Hours

     9.1 The Tenant must use the Premises only for the Permitted Use.

     9.2 Unless prohibited by law, the Tenant must keep the Premises open and conduct the Tenant’s
Business properly and efficiently from 9.00 a.m. to 5.00 p.m. every day except Saturdays, Sundays
and days proclaimed as public holidays in New South Wales.

10. Tenant’s Additional Obligations

     10.1 The Tenant must:

          (a) subject to clause 12.5, comply on time with all laws and the requirements of authorities
in connection with the Premises, the Tenant’s Business, the Tenant’s Property and the use or
occupation of the Premises (including obtaining all permits); and

          (b) inform the Landlord of damage to the Building or the Premises or of a faulty Service
immediately it becomes aware of it; and

          (c) observe the maximum load weights throughout the Building; and

          (d) promptly, when asked by the Landlord, do everything necessary for the Tenant to do to
enable the Landlord to exercise its rights under this lease; and

 

 

          (e) promptly pay all charges for electricity, gas, water usage and other utilities which are
consumed on the Premises; and

          (f) Comply with all Rules of which it has notice. The Tenant acknowledges that it has notice
of the Rules in annexure 1.

     10.2 The Tenant may not:

          (a) alter the Landlord’s Property or remove it from the Premises; or

          (b) store or use inflammable, volatile or explosive substances on the Premises; or

          (c) do anything in or around the Building which in the Landlord’s reasonable opinion may be
annoying, dangerous or offensive; or

          (d) do anything which interferes with or overloads the Building’s facilities or Services nor
use them for anything other than their intended purpose; or

          (e) do anything to contaminate, pollute or increase toxicity in the Building or the Premises
or their environment.

     10.3 If the Tenant may not do something in connection with this lease, then it may not do
anything which may result in it happening.

     10.4 The Tenant must ensure that the Tenant’s Employees and Agents comply, if appropriate,
with the Tenant’s obligations under this lease.

11. Cleaning the Premises

     11.1 The Tenant must keep the Premises tidy and free of vermin and comply with the Landlord’s
directions about refuse removal and recycling.

     11.2 If the Landlord provides a cleaning service for the Premises, the Tenant must give the
Landlord’s cleaners access to clean the Premises at reasonable times and may not use any cleaning
service other than that provided by the Landlord.

12. Repair, Redecoration and Tenant’s Works

Landlord’s approval

     12.1 The Tenant may not carry out works to the Premises without the Landlord’s approval.

     If the Landlord gives approval, it may impose conditions. These conditions may include
specifying:

          (a) which parts of the Premises may not be reinstated and which part must be; and

 

 

          (b) which items of Tenant’s Property installed as part of the works may not be removed.

Tenant’s Works

     12.2 The Tenant must ensure that any works it does, including works under clause 12.4, are
done:

          (a) by contractors approved by the Landlord (who may not unreasonably withhold its approval);
and

          (b) in a proper and workmanlike manner; and

          (c) in accordance with any plans, specifications and schedule of finishes required and
approved by the Landlord (who may not unreasonably withhold its approval); and

          (d) in accordance with all laws and requirements of authorities; and

          (e) without disturbing other occupiers or visitors to the Building or the Land; and

          (f) in accordance with the Landlord’s reasonable requirements and directions.

Repair of Items

     12.3 The Tenant acknowledges that the Premises are in good repair at the Commencement Date.

Repair, Replace and Redecorate

     12.4 The Tenant must:

          (a) keep the Premises and the Tenant’s Property in good repair excluding fair wear and tear;
and

          (b) promptly replace worn or damaged items in or attached to the Premises (including plate
glass, Tenant’s Property and those floor coverings and furnishings which are part of the Landlord’s
Property) with items of similar quality; and

          (c) redecorate the Premises and the Tenant’s Property in accordance with item 10.

Structural Work

     12.5 The Tenant need not carry out structural work unless it is required because of the use or
occupation of the Premises or the act, negligence or default of the Tenant or of the Tenant’s
Employees and Agents.

 

 

     13. Transfer and Other Dealings

Prohibited Dealings

     13.1 The Tenant may only transfer this lease in accordance with clause 13.2 but may not sublet
or licence or otherwise part with possession of the Premises.

Transfer conditions

     13.2 The Tenant may only transfer this lease if, before it transfers:

          (a) it satisfies the Landlord that the proposed new tenant is respectable and financially
sound with experience in and a good reputation for conducting a business permitted under the lease;
and

          (b) the proposed new tenant signs a contract relating to the transfer in a form reasonably
required by the Landlord; and

          (c) any guarantee or guarantee and indemnity reasonably required by the Landlord is provided;
and

          (d) any default by the Tenant has been remedied by the Tenant or waived by the Landlord; and

          (e) the Tenant and the proposed new tenant comply with all the Landlord’s reasonable
requirements; and

          (f) the Landlord has obtained any consents it has agreed to obtain.

Change in Control of Tenant

     13.3 If:

          (a) the Tenant is a company which is neither listed nor wholly owned by a company which is
listed on the Australia Stock Exchange; and

          (b) there is a proposed change in the shareholding of the Tenant or its holding company so
that a different person or group of persons will control the composition of the board of directors
or more than 50% of the shares giving a right to vote at general meetings,

     then that proposed change in control is treated as a proposed transfer of this lease, the
person or persons acquiring control is treated as the proposed new tenant and clause 13.2 (except
for clause 13.2(b)) applies.

Securities

     13.4 The Tenant may only create or allow to come into existence:

          (a) a security over the Tenant’s interest in this lease; or

 

 

          (b) a lease or security affecting the Tenant’s Property with the Landlord’s approval (which
may not be unreasonably withheld).

14. Landlord’s Additional Obligations and Rights

Quiet enjoyment

     14.1 Subject to the Landlord’s rights, while the Tenant complies with its obligations under
this lease, it may occupy the Premises during the Term without interference by the Landlord.

     14.2 The Landlord must take reasonable action to keep:

          (a) the Services available to the Premises during the hours referred to in clause 9.2 and, if
the Landlord agreed to do so at the Tenant’s request, during those in item 9; and

          (b) the Landlord’s plant and equipment in the Building in good working order; and

          (c) the Common Areas clean.

     The Tenant may not tenninate this lease or stop or reduce payments under it because a Service
is not available or is interrupted or fails or the Landlord’s plant or equipment breaks down or the
Common Areas are not clean.

Consents

     14.3 If the Landlord has agreed to obtain a person’s consent in connection with this lease,
then the Landlord must do everything reasonably necessary to obtain that consent.

Rights

     14.4 The Landlord may:

          (a) carry out any works on the Land or in the Building or the Premises (including alterations
and redevelopment), limit access to or close the Common Areas, if the Landlord takes reasonable
steps (except in emergencies) to minimise interference with the Tenant’s Business; and

          (b) use, maintain, repair, alter, add to Services to or in the Premises, if the Landlord takes
reasonable steps (except in emergencies) to minimise interference with the Tenant’s Business; and

          (c) exclude or remove any person from the Land or the Building; and

          (d) restrict access to loading docks, if the Landlord takes reasonable steps (except in
emergencies) to minimise interference with the Tenant’s Business; and

 

 

          (e) permit functions, displays, and other activities on the Land or in the Building; and

          (f) change the direction or flow of pedestrians or vehicular traffic into, out of or through
the Building; and

          (g) change the name or logo or signage of the Building.

To Enter

     14.5 The Landlord may enter the Premises at reasonable times on reasonable notice to see if
the Tenant is complying with its obligations under this lease or to do anything the Landlord must
or may do under this lease.

Prospective Tenants or Purchasers

     14.6 After giving reasonable notice, the Landlord may:

          (a) enter the Premises to show prospective purchasers or tenants through the Premises; and

          (b) display for a reasonable time from the Premises a sign indicating that the Building is or
the Premises are available for purchase or lease.

Access to Building

     14.7 If the Landlord decides there is an emergency, the Landlord may stop the Tenant from
entering the Building at any time.

Enforcing Rights and No Exclusive Use

     14.8 The Tenant acknowledges that the Landlord may enforce its rights against the Tenant
whether or not the Landlord enforces its rights against other tenants or occupiers of the Building.

To Deal with the Land

     14.9 The Landlord may subdivide the Land or grant easements or other rights over it or the
Premises unless this would have a substantial adverse effect on the Tenant’s Business.

Change of Landlord

     14.10 If the Landlord deals with its interest in the Land so that another person becomes
landlord, the Landlord is released from any obligation under this lease arising after it ceases to
be landlord.

 

 

Landlord May Rectify

     14.11 After giving the Tenant reasonable notice, the Landlord may do anything which the Tenant
should have done under this lease but which it is not done or which the Landlord considers it has
not done properly.

Agents

     14.12 Landlord may appoint agents or others to exercise any of its rights or perform any of
its duties under this lease. Communications from the Landlord override those from the agents or
others if they are inconsistent.

Common Areas

     14.13 Subject to this lease and the Rules, the Tenant and the Tenant’s Employees and Agents
may use the Common Areas for the purposes for which they are intended.

Rules

     14.14 Landlord may vary Rules or make Rules which are consistent with this lease in connection
with the operation, use and occupation of the Building. The Landlord must give the Tenant a notice
about Rules the Landlord makes or changes.

15. Expiry or Termination

Tenant to Vacate

     15.1 The Tenant must vacate the Premises on the earlier of the Expiry Date and the date this
lease is terminated and, subject to clause 15.2, leave them in a condition satisfactory to the
Landlord acting reasonably. Subject to clause 15.2, the Landlord may require the Tenant to remove
all items of fitout (whether or not they were installed by or on behalf of the Tenant).

No Removal of Certain Items

     15.2 The Tenant may not remove Tenant’s Property which:

          (a) the Landlord has stated (as a condition of giving approval to works) may not be removed;
or

          (b) is part of structural work done by the Tenant to the Premises unless the Landlord gives
the Tenant a notice requiring the Tenant to remove that Tenant’s Property.

Removal of Tenant’s Property

     15.3 Subject to clauses 15.2 and 15.4, the Tenant must remove the Tenant’s Property from the
Premises during the seven days immediately before the day the Premises must be vacated.

 

 

If Tenant’s Property Not Removed

     15.4 If the Landlord termninates this lease by re-entry, the Tenant may give the Landlord a
notice within seven days after termination that it wants to remove the Tenant’s Property which it
may or must remove from the Premises.

     15.5 Within seven business days after the Tenant gives its notice, the Landlord must give the
Tenant a notice, stating when and how the Tenant’s Property is to be removed from the Premises and
by whom.

     15.6 The Landlord may treat the Tenant’s Property as abandoned and deal with it in any way it
sees fit at the Tenant’s expense if the Tenant does not:

          (a) give its notice on time; or

          (b) remove the Tenant’s Property in accordance with this clause 15 or a notice given under it.

     15.7 The Tenant’s Property is at the Tenant’s risk at all times.

     15.8 The Tenant must promptly make good any damage caused by the Tenant’s Property being
removed from the Premises.

     15.9 On the day the Tenant must vacate the Premises, the Tenant must give the Landlord the
keys, access cards and similar devices for the Building and the Premises held by the Tenant, the
Tenant’s Employees and Agents and any other person they have given them to.

16. Holding Over

     16.1 If the Tenant continues to occupy the Premises after the Expiry Date with the Landlord’s
approval, it does so under a monthly tenancy:

          (a) which either party may terminate on one month’s notice ending on any day; and

          (b) at a rent which is one twelfth of the Rent.

     16.2 Subject to clause 16.1, the monthly tenancy is on the same terms as this lease except for
those changes which:

          (a) are necessary to make this lease appropriate for a monthly tenancy (but any bond or bank
guarantee required under this lease may to be reduced); or

          (b) the Landlord requires as a condition of giving its approval to the holding over.

 

 

17. Damage to Building or Premises

     17.1 If the Building is damages so that the Tenant’s use of the Premises is substantially
adversely affected, the Landlord must give the Tenant a notice within a reasonable time after the
damage occurs either:

          (a) terminating this lease on a date not less than two weeks after the date the Landlord gives
the notice; or

          (b) stating that the Landlord intends to make the Premises fit for the Tenant’s use.

     17.2 If the Landlord does not make the Premises fit for the Tenant’s use within a reasonable
time after giving notice that it intends to do so, the Tenant may give the Landlord a notice
stating that the Tenant will terminate this lease if the Landlord does not make the Premises fit
within a reasonable time after the Tenant gives the notice.

Abatement of Payments

     17.3 The Tenant may reduce its payments under this lease for the period from and including the
date the damage occurs to and including the date this lease is terminated or to but excluding the
date the Premises are made fit for the Tenant’s use. Any reduction must be proportionate to the
loss of amenity caused by the damage.

     17.4 If the parties do not agree on the proportion within seven days after the damage occurs,
then each party must give the other notice under clause 22.2 and the proportion must be decided
under clause 22. Until that proportion is agreed or decided, the Tenant must continue making
payments under this lease as if the damage had not occurred.

     17.5 On the first Rent Day after the proportion is agreed or decided, the Tenant must pay the
Landlord (or the Landlord must credit the Tenant with) any difference between what the Tenant has
paid under this lease and what the Tenant should have paid for the period from and including the
date the damage occurs to but excluding that Rent Day.

     17.6 The Tenant may not terminate this lease or reduce payments under this clause 17 if:

          (a) the damage is caused or contributed to by; or

          (b) rights under an insurance policy in connection with the Building are prejudiced or a
policy is cancelled or payment of a premium or a claim is refused by the insurer because of

     the act, negligence or default of the Tenant or of the Tenant’s Employees and Agents. This
does not affect rights the Landlord may have in connection with the events specified in this clause
17.6.

     17.7 This clause 17 does not oblige the Landlord to restore or reinstate the Building or the
Premises.

 

 

18. Default

Essential Terms

     18.1 Each obligation of the Tenant to pay money and its obligations under clauses 7, 9, 12 and
13 are essential terms of this lease. Other obligations under this lease may also be essential
terms.

Landlord’s Right to Terminate

     18.2 The Landlord may terminate this lease by giving the Tenant notice or by reentry if the
Tenant:

          (a) repudiates its obligations under this lease; or

          (b) does not comply with an essential term of this lease; or

          (c) does not comply with an obligation under this lease (which is not an essential term) and,
in the Landlord’s reasonable opinion:

               (i) the non-compliance can be remedied, but the Tenant does not remedy it within a reasonable
time after the Landlord gives the Tenant notice to remedy it; or

               (ii) the non-compliance cannot be remedied or compensated for; or

               (iii) the non-compliance cannot be remedied but the Landlord can be compensated for the breach
within a reasonable time after the Landlord gives the Tenant notice to pay it.

     18.3 If this lease is terminated under this clause 18:

          (a) the Tenant indemnifies the Landlord against any liability or loss arising and any cost
incurred (whether before or after termination of this lease) in connection with the Tenant’s breach
of this lease and the termination of this lease including the Landlord’s loss of the benefit of the
Tenant performing its obligations under this lease from the date of that termination until the
Expiry Date; and

          (b) the Landlord must take reasonable steps to mitigate its loss.

19. Costs, Charges and Expenses

     19.1 In connection with this lease and any document or matter in connection with it, the
Tenant must pay promptly:

          (a) for everything it must do; and

          (b) all stamp duty and registration fees; and

 

 

          (c) on demand, the Landlord’s reasonable costs, charges and expenses including those for
negotiating, preparing, executing, stamping, registering, obtaining any consents the Landlord must
obtain before giving approvals, considering requests for approvals and exercising rights; and

          (d) all costs, charges and expenses in connection with works the Tenant carries out, including
those incurred by the Landlord in considering, approving and supervising the works and those of
modifying or varying the Building because of the works.

20. Notices

     20.1 A notice or approval must be:

          (a) in writing; and

          (b) left at or posted by certified post to the address or sent to the facsimile number of the
party in item 11, as varied by notice.

     20.2 A notice or approval is taken to be given:

          (a) if posted, on the third day after posting; and

          (b) if sent by facsimile, on the next business day after it is sent unless the send is aware
that transmission is impaired.

21. Miscellaneous

Waiver and Variation

     21.1 A provision of or a right under this lease may not be waived or varied except in writing
signed by whoever is to be bound.

     21.2 If the Landlord:

          (a) accepts rent or other money under this lease (before or after termination); or

          (b) does not exercise or delays exercising any right under clause 18; or

          (c) gives any concession to the Tenant; or

          (d) attempts to mitigate its loss, it is not a waiver of any breach or of the Landlord’s
rights under this lease. An attempt by the Landlord to mitigate its loss is not a surrender of this
lease.

Approvals

     21.3 The Landlord may give conditionally or unconditionally or withhold its approval in its
absolute discretion unless this lease expressly says otherwise.

 

 

Exclusion of Statutory Provisions

     21.4 The covenants, powers and provisions implied in leases by sections 84, 84A, 85 and 86 of
the Conveyancing Act 1919 do not apply to this lease.

     21.5 In this lease words used in any of the forms of words in the first column of part 2 of
schedule 4 to the Conveyancing Act 1919 do not imply a covenant under section 86 of that act.

Prior Breaches

     21.6 Expiry or termination of this lease does not affect any rights in connection with a
breach of this lease before then.

Caveats

     21.7 The Tenant may not:

          (a) lodge a caveat on the title to the Land, except a caveat noting the Tenant’s interest
under this lase (if this lease is not registered but must be to ensure that it is enforceable
against the Landlord’s successors in title); or

          (b) allow a caveat lodged by a person claiming through the Tenant to remain on that title.

     If the Tenant lodges a caveat permitted by this clause, it must do everything necessary to
permit registration of any dealing if its rights under this lease are protected. The tenant must
withdraw that caveat on the earlier of registration and expiry or termination of this lease.

Warranties and Undertakings

     21.8 The Tenant warrants that it:

          (a) has relied only on its enquiries in connection with this lease and not on any
representation or warranty by the Landlord or any person acting or seeming to act on the Landlord’s
behalf and

          (b) was made aware of the Rules then current when signing this lease.

     21.9 The Tenant must comply on time with undertakings given by or on behalf of the Tenant in
connection with this lease.

Counterparts

     21.10 This lease may consist of a number of counterparts and the counterparts taken together
constitute one and the same instrument.

 

 

22. Disputes

Legal Proceedings Conditional

     22.1 A party may not begin legal proceedings in connection with a dispute under this lease
(except a dispute under clause 4 or because the Tenant has not paid Rent or other money it owes
under this lease or because the Landlord wants possession after the Expiry Date) unless that
dispute has first been decided by a person appointed under this clause 22.

Notice of Dispute

     22.2 If there is a dispute under this lease to which this clause 22 applies, either party may
give the other a notice requiring the dispute to be decided under this clause 22.

Referral of Dispute

     22.3 The dispute must be referred to a person agreed on by the parties but if the parties do
not agree on a person within seven days after the notice is given, then to a person appropriately
qualified to deal with the dispute appointed at the request of either party by the chair of LEADR
(Lawyers Engaged in Alternative Dispute Resolution).

     22.4 The person acts as an expert and not as an arbitrator and must give a written decision
including reasons. Unless there is a manifest error, that person’s decision in final and binding.

Enquiries

     22.5 The person may enquire into the dispute as that person thinks fit including hearing
representations and taking advice from people that person considers appropriate.

     22.6 The parties may make submissions and must give every assistance that person requires,
including providing copies of relevant documents.

Costs

     22.7 Each party must pay its own costs in connection with the dispute. The costs of referring
the dispute to the person and that person’s costs and the cost of the enquiries must be shared
equally.

23. Bank Guarantee

     23.1 On or before the Commencement Date, the Tenant must deliver the Bank Guarantee to the
Landlord.

     23.2 If the Tenant does not comply with any of its obligations under this lease, whether this
lease is registered or not, then the Landlord may call on the Bank Guarantee without notice to the
Tenant.

     23.3 If the Landlord calls on the Bank Guarantee or the Rent is increased, then no later than
seven days after the Landlord gives the Tenant a notice asking for it, the Tenant must
deliver to the Landlord a replacement or additional Bank Guarantee so that the amount
guarantees is the amount in item 12.

 

 

     23.4 The Tenant’s obligations under this clause 23 are essential terms of this lease.

24. Guarantee and Indemnity

     24.1 If there is a name in item 13, then this clause 24 applies.

     24.2 The Guarantor gives this guarantee and indemnity in consideration of the Landlord
agreeing to enter into this lease. The Guarantor acknowledges the receipt of valuable consideration
from the Landlord for the Guarantor incurring obligations and giving rights under this guarantee
and indemnity.

Guarantee

     24.3 The Guarantor unconditionally and ilTevocably guarantees to the Landlord the due and
punctual performance and observance by the Tenant of its obligations:

          (a) under this lease (including any extension or holding over), whether this lease is
registered or not and even if the lease is found not to be a lease or is found to be a lease for a
term less than the Term; and

          (b) in connection with its occupation of the Premises including the obligations to pay money.

Indemnity

     24.4 As a separate undertaking, the Guarantor unconditionally and irrevocably indemnifies the
Landlord against all liability or loss arising from, and any costs, charges or expenses incurred in
connection with, a breach by the Tenant of this lease or the Tenant’s occupation of the Premises,
including a breach of the obligations to pay money. It is not necessary for the Landlord to incur
expense or make payment before enforcing that right of indemnity.

Interest

     24.5 The Guarantor agrees to pay interest on any amount payable under this guarantee and
indemnity from when the amount becomes due for payment until it is paid in full. Accumulated
interest is payable at the end of each month. The interest rate to be applied to each daily balance
is set out in clause 6.7.

Enforcement of Rights

     24.6 The Guarantor waives any right it has of first requiring the Landlord to commence
proceedings or enforce any other right against the Tenant or any other person before claiming under
this guarantee and indemnity.

 

 

Continuing Security

     24.7 This guarantee and indemnity is a continuing security and is not discharged by any one
payment.

Guarantee Not Affected

     24.8 The liabilities of the Guarantor under this guarantee and indemnity as a guarantor,
indemnifier or debtor and the rights of the Landlord under this guarantee and indemnity are not
affected by anything which might otherwise affect them at law or in equity including, but not
limited to, one or more of the following:

          (a) the Landlord granting time or other indulgence to, compounding or compromising with or
releasing the Tenant;

          (b) acquiescence, delay, acts, omissions or mistakes on the part of the Landlord;

          (c) any transfer of a right of the Landlord;

          (d) the termination or expiry of, or any variation, assignment, extension or renewal of, the
lease;

          (e) the invalidity or unenforceability of an obligation or liability of a person other than
the Guarantor;

          (f) any change in the Tenant’s occupation of the Premises;

          (g) the non registration of this lease; or

          (h) this lease not being effective as a lease or the lease not being effective as a lease for
the Term; or

          (i) any person named as Guarantor not executing or not executing effectively this guarantee
and indemnity.

Suspension of Guarantor’s Rights

     24.9 The Guarantor may not, without the Landlord’s approval:

          (a) raise a set-off or counterclaim available to it or the Tenant against the Lessor in
reduction of its liability under this guarantee and indenmity; or

          (b) claim to be entitled by way of contribution, indemnity, subrogation, marshalling or
otherwise to the benefit of any security or guarantee held by the Landlord in connection with this
lease; or

          (c) make a claim or enforce a right against the Tenant or its property; or

 

 

          (d) prove in competition with the Landlord if a liquidator, provisional liquidator, receiver,
administrator or trustee in bankruptcy is appointed in respect of the Tenant or the Tenant is
otherwise unable to pay its debts when they fall due,

     until all money payable to the Landlord in connection with the lease is paid.

Reinstatement of Guarantee

     24.10 If a claim that a payment to the Landlord in connection with this lease or this
guarantee and indemnity is void or voidable (including, but not limited to, a claim under laws
relating to liquidation, administration, insolvency or protection of creditors) is upheld, conceded
or compromised then the Landlord is entitled immediately as against the Guarantor to the rights to
which it would have been entitled under this guarantee and indemnity if the payment had not
occurred.

Assignment

     24.11 The Landlord may assign its rights under this guarantee and indemnity.

Costs

     24.12 The Guarantor agrees to pay or reimburse the Landlord on demand for:

          (a) the Landlord’s costs, charges and expenses in making, enforcing and doing anything in
connection with this guarantee and indemnity including, but no limited to, legal costs and expenses
on a full indemnity basis; and

          (b) all stamp duties, fees, taxes and charges which are payable in connection with this
guarantee and indemnity or a payment, receipt or other transaction contemplated by it.

     Money paid to the Lessor by the Guarantor must be applied first against payment of costs,
charges and expenses under this clause 24.12 then against other obligations under this guarantee
and indemnity.

25. Option for a New Lease

     25.1 The Landlord must grant a new lease under this clause 25 on the Expiry Date to commence
on the next day on if:

          (a) the Tenant gives the Landlord a notice stating that it wants a new lease of the Premises
for the term first specified in item 14; and

          (b) the Landlord receives that notice within the period from and including the day that is six
months before the Expiry Date to but excluding the day that is three months before the Expiry Date;
and

          (c) when the Tenant gives that notice, and on the Expiry Date, the Tenant is not in breach of
this lease; and

 

 

          (d) the Tenant delivers to the Landlord before the Expiry Date a guarantee of or a guarantee
of and an indemnity in connection with the Tenant’s obligations under the new lease by the same
person, or another person acceptable to the Landlord, on the same terms as any given in connection
with the Tenant’s obligations under this lease.

     25.2 The new lease is to be identical with this lease except that:

          (a) if the particulars of the new lease are the only particulars specified in item 14, this
clause 25 and item 14 are deleted; and

          (b) if particulars of more than one new lease are specified in item 14, the particulars of the
new lease first specified are deleted from item 14; and

          (c) the commencement date, the term, the expiry date, then rent review dates and the
redecoration requirements and dates are to be those first specified in item 14; and

          (d) the rent from the commencement date of the new lease is to be decided under clause 4 as if
that date were a Market Review Date; and

          (e) the new lease must reflect any variations to this lease which become effective during the
Term.

26. GST

     26.1 The Lessee acknowledges that:

          (a) the rent under this lease has been calculated without regard to GST; and

          (b) the Lessor is entitled to charge an additional amount if the Lessor becomes subject to GST
as a result of the grant of this Lease or any supply under this Lease and in which case clause 26.2
applies.

     26.2 If the Lessee is required to reimburse the Lessor for GST, then each payment by the
Lessee must include an additional amount equal to 10% of the amount of that payment (unless the GST
rate changes, in which case the percentage becomes the new GST rate).

     26.3 In this clause, “GST” means goods and services tax, value added tax, consumption tax or a
similar tax.

27. Strata Conversion

     27.1 For the purpose of this clause “Strata Conversion” shall mean a subdivision of the
premises or the building under the Strata Titles Act 1973 or the Community Land Development Act
1989 or the Community Land Management Act 1989 or other legislation permitting such a subdivision.

     27.2 The Lessee acknowledges that the Lessor is entitled at any time to carry out a Strata
Conversion.

 

 

     27.3 The Lessor will give the Lessee as much prior notice as is reasonably practical of the
Strata Conversion.

     27.4 Within 7 days of written request by the Lessor the Lessee will sign and return to the
Lessor any consents or other documents necessary to enable the Lessor to carry out the Strata
Conversion and will make no objection or claim for compensation in relation to the Strata
Conversion.

     27.5 If the Strata Conversion occurs:

27.5.1 any reference in this Lease to the Building will be deemed to be a reference
to the building comprised in the registered plan or plans of which the Premises form
part;

27.5.2 any levies or other monies payable to the Owner’s Corporation will be deemed
to be outgoings (variable rent) for the purposes of this Lease;

27.5.3 the Rules and Regulations will be deemed to include any by-laws of the
Owner’s Corporation and

27.5.4 this Lease will be deemed to be amended in any respect that is necessary to
ensure that this Lease reflects the fact that the Strata Conversion has been carried
out.

28. Redevelopment

     28.1 The tenant by its execution hereof:

          (a) acknowledges that the landlord may propose substantial structural renovations and
alterations to the premises at some time during—the term of the Lease and may need to determine
this Lease prior to—the date for expiration by effluxion of time to more efficiently effect such
renovations and alterations to the nreinises

          (b) acknowledges and agrees that within the period:

               (i) 6 months after obtaining development approval for; or

               (ii) 6 months prior to the date that the landlord intends to commence substantial structural
renovations and alterations to the premises;

     the landlord may, subject to it giving the tenant six (6) months written notice of its
intention so to do, call upon and demand that the tenant quit and surrender up to the landlord the
Demised Premises whereupon the tenant shall:

(aa) execute and deliver to the landlord a Surrender of this Lease in registrable
form;

 

 

(bb) peacefully, and subject to the terms of this Lease, quit and deliver up the
premises to the landlord in accordance with the terms of the landlord’s said notice;

(cc) make no objection, requisition or claim for compensation in relation to the
landlord’s notice or to the provisions of this Clause;

(dd) for the purposes of the execution of the said Surrender of Lease the tenant
hereby irrevocably nominates, constitutes and appoints the landlord to be its true
and lawful attorney;

(ee) stamp duty and other costs payable in respect of the surrender will not be
borne by the tenant;

(ff) as and from such surrender neither party shall have any continuing liabilities
to the other in respect of this Lease except for such liabilities as may have arisen
prior to such surrender.

29. SPECIAL CONDITIONS:

     Notwithstanding anything to the contrary contained in this Lease:

     29.1 No rental shall be payable by the Lessee for the period of three (3) months from 1
October 2006 to 31 December 2006.

     29.2 The Lessee will not be required to pay army outgoings or licence fees (if applicable)
from 1 October 2006 to 31 October 2006.

     29.3 The anniversary of this Lease for the purposes of rental review is 1 December of each
year PROVIDED THAT no rent review is to occur on 1 December, 2006.

     We certify this dealing to be correct for the purposes of the Real Property Act 1900.

     EXECUTED as a deed

     DATE:

 

 

Execution Page

	 	 	 	 	 	 	 	 	 
	THE COMMON SEAL of GPF NO.3

	 	 	)	 	 	 	 	 
	PTY LTD is affixed in accordance with

	 	 	)	 	 	 	 	 
	its articles of association in the presence

	 	 	)	 	 	 	 	 
	of:
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	  

Signature
of authorised person

	 	 	 	 	 	  

Signature
of authorised person
	 	 
	 
	 	 	 	 	 	 	 	 
	  

Office
held

	 	 	 	 	 	  

Office
held
	 	 
	 
	 	 	 	 	 	 	 	 
	  

Name
of authorised person (block letters)

	 	 	 	 	 	  

Name
of authorised person (block letters)
	 	 
	 
	 	 	 	 	 	 	 	 
	THE COMMON SEAL of ROYAL WOLF

	 	 	)	 	 	 	 	 
	TRADING AUSTRALIA PTY LTD is

	 	 	)	 	 	 	 	 
	duly affixed by authority of its directors

	 	 	)	 	 	 	 	 
	in the presence of:
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	  

Signature
of authorised person

	 	 	 	 	 	  

Signature
of authorised person
	 	 
	 
	 	 	 	 	 	 	 	 
	  

Office
held

	 	 	 	 	 	  

Office
held
	 	 
	 
	 	 	 	 	 	 	 	 
	  

Name
of authorised person (block letters)

	 	 	 	 	 	  

Name
of authorised person (block letters)
	 	 

 

 

Annexure 1 Rules

These are Rules referred to in the lease

BETWEEN

GPF NO. 3 PTY LIMITED

AND:

ROYAL WOLF TRADING AUSTRALIA PTY LIMITED

of the premises known as suite 2.02, level 2, 22-28 Edgeworth David Avenue, Hornsby

	 	 	 	The provisions of the lease apply to these Rules
	 
	 	1.	 	The Tenant may not:
	 
	 	 	 	(a) smoke in the Building;
	 
	 	 	 	(b) put up signs, notices, advertisements, blinds or awnings, antennae
or receiving dishes or install vending or amusement machines without
the Landlord’s approval;
	 
	 	 	 	(c) hold auction, bankrupt or fire sales in the Premises;
	 
	 	 	 	(d) keep an animal or bird on the Premises;
	 
	 	 	 	(e) use a business name which includes words connecting the business
name with the Building without the Landlord’s approval;
	 
	 	 	 	(f) remove floor coverings from where they were originally laid in the
Premises without the Landlord’s approval;
	 
	 	 	 	(g) do anything to the floor coverings in the Building which affects
any guarantee in connection with them if the Landlord has given the
Tenant a notice setting out the relevant terms of the guarantee;
	 
	 	 	 	(h) use any method of heating, cooling or lighting the Premises other
than those provided or approved by the Landlord;
	 
	 	 	 	(i) operate a musical instrument, radio, television or other equipment
that can be heard outside the Premises;
	 
	 	 	 	(j) throw anything out of any part of the Building;
	 
	 	 	 	(k) move heavy or bulky objects through the Building without the
Landlord’s approval;
	 
	 	 	 	(l) obstruct:

	 	(i)	 	windows in the Premises except by internal blinds or curtains
approved by the Landlord;
	 
	 	(ii)	 	any air vents, airconditioning ducts or skylights in the
Premises; or
	 
	 	(iii)	 	emergency exits from the Building or the Premises; or
	 
	 	(iv)	 	the Common Areas; or

 

 

	 	 	 
	 

	 	(m) interfere with directory boards provided by the Landlord.
	 
	 	 
	2.

	 	The Tenant must:
	 
	 	 
	 

	 	(a) put up signs in the Premises prohibiting smoking if required by
the Landlord;
	 
	 	 
	 

	 	(b) if the Landlord approves the Tenant’s use of a business name which
is connected with the Building, terminate any right it has to use that
business name on the date it must vacate the Premises;
	 
	 	 
	 

	 	(c) participate in any emergency drill of which the Landlord gives
reasonable notice;
	 
	 	 
	 

	 	(d) evacuate the Building immediately and in accordance with the
Landlord’s directions when informed of any actual or suspected
emergency;
	 
	 	 
	 

	 	(e) secure the Premises when they are unoccupied and comply with the
Landlord’s directions about Building security;
	 
	 	 
	 

	 	(f) if there are directory boards, submit the form in which it
requires its name and description to appear on them to the Landlord
for its approval, make whatever changes the Landlord reasonably
requires and pay the Landlord on demand the cost of placing that
information on the directory boards.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]