Document:

inva_Ex10_84

		
			Exhibit 10.84
		

		
			 
		

		
			LEASE TERMINATION AGREEMENT
		

		
			This Lease Termination Agreement (this "Agreement") is entered into as of the 13 day of July, 2019, by and between HCP LIFE SCIENCE REIT, INC., a  Maryland corporation ("Landlord"), and INNOVIVA, INC., a Delaware corporation ("Tenant").
		

		
			R E C I T A L S :
		

		
			A.Landlord (as successor-in-interest to 2000 SIERRA POINT PARKWAY LLC, a Delaware limited liability company) and Tenant entered into that certain Office Lease ("Lease") dated June 10, 2016, whereby Landlord leased to Tenant, and Tenant leased from Landlord, that certain space more particularly described in the Lease (the "Premises").
		

		
			B.Tenant and Landlord desire to enter into this Agreement in order to terminate the Lease and to release one another from their respective obligations thereunder, except as otherwise provided herein.
		

		
			A G R E E M E N T :
		

		
			NOW, THEREFORE, in consideration of the foregoing recitals and the conditions and the covenants hereinafter contained, and for other consideration hereinafter set forth, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows.
		

		
			1.Terms.  All capitalized terms when used herein shall have the same respective meanings as are given such terms in the Lease unless expressly provided otherwise in this Agreement.
		

		
			2.Termination of the Lease.  Landlord and Tenant hereby agree that conditioned upon the performance by the parties of the provisions of this Agreement, the Lease shall terminate and be of no further force or effect as of 11:59 P.M. PST on September 30, 2019 (“Termination Date”).
		

		
			3.Surrender of Premises.  Tenant hereby agrees to vacate the Premises and surrender and deliver possession thereof to Landlord on or before the Termination Date in its “as-is” condition, broom clean, and reasonable wear and tear excepted.  Notwithstanding anything to the contrary contained in the Lease, Tenant shall have no obligations to perform any restoration work or to otherwise prepare the Premises for surrender to Landlord, other than as provided in the foregoing sentence.  Furthermore, Landlord hereby agrees that notwithstanding anything to the contrary contained in the Lease, Tenant shall be permitted to leave in the Premises the furniture, fixtures, and equipment listed on Exhibit A attached hereto (the “Remaining FF&E”), it being understood that such Remaining FF& E shall be for the use and benefit of the incoming tenant.
		

		
			4.Consideration to Landlord; Return of Security Deposit.  In consideration for Landlord’s execution of this Agreement, Tenant shall deliver to Landlord upon execution of this Agreement the sum of $63,202.50 (collectively, the “Termination Fee”).  In addition, Landlord and Tenant hereby acknowledge that, in accordance with the Lease, Tenant has previously delivered to Landlord the total sum of $37,230.00 as the Security Deposit for the faithful performance by Tenant of the terms, covenants and conditions of the Lease.  Landlord and Tenant hereby agree that any unapplied portion of the Security Deposit shall be returned to Tenant within thirty (30) days following the later to occur of (i) the Termination Date and (ii) payment by Tenant of the Termination Fee.
		

		
			5.Release of Liability.  Except as with respect to all obligations set forth in the Lease that survive the termination of the Lease, including, without limitation, Tenant’s indemnity obligations, and except as provided in Sections 4, 6 and 7 hereof, and conditioned on the performance by the parties of the provisions of this Agreement:
		

		
			(a)Landlord and Tenant shall, as of the Termination Date, be fully and unconditionally released and discharged from their respective obligations arising after the Termination Date from or connected with the provisions of the Lease, specifically including,
		

		
			

		 

		

		
			without limitation, any right Tenant may have to audit or review Landlord’s books or records or to contest any Operating Expenses, billed to Tenant under the Lease; and
		

		
			(b)this Agreement shall fully and finally settle all demands, charges, claims, accounts or causes of action of any nature, including, without limitation, both known and unknown claims and causes of action that may arise out of or in connection with the obligations of the parties under the Lease after the Termination Date.
		

		
			Each of the parties expressly waives the provisions of California Civil Code Section 1542, which provides:
		

		
			“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT  THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT,  IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”
		

		
			Each party acknowledges that it has received the advice of legal counsel with respect to the aforementioned waiver and understands the terms thereof.
		

		
			6.Representations of Tenant.  Tenant represents and warrants to Landlord that (a) Tenant has not heretofore assigned or sublet all or any portion of its interest in the Lease; (b) no other person, firm or entity has any right, title or interest in the Lease; (c) Tenant has the full right, legal power and actual authority to enter into this Agreement and to terminate the Lease without the consent of any other person, firm or entity; and (d) Tenant has the full right, legal power and actual authority to bind Tenant to the terms and conditions hereof. Tenant further represents and warrants to Landlord that as of the date hereof there are no, and as of the Termination Date there shall not be any, mechanic’s liens or other liens encumbering all or any portion of the Premises, by virtue of any act or omission on the part of Tenant, its predecessors, contractors, agents, employees, successors or assigns. Notwithstanding the termination of the Lease and the release of liability provided for herein, the representations and warranties set forth in this Section 6 shall survive the Termination Date and Tenant shall be liable to Landlord for any inaccuracy or any breach thereof.
		

		
			7.Continuing Liability.  Notwithstanding the termination of the Lease and the release of liability provided for herein, Tenant shall remain liable, with respect to the period of its tenancy prior to the Termination Date, for the performance of all of its obligations under the Lease (including, without limitation, Tenant’s payment of reconciliation of Operating Expenses) and Landlord shall have all the rights and remedies with respect to such obligations as set forth in the Lease. In the event that Tenant retains possession of the Premises or any part thereof after the Termination Date, then the provision of Section 20.2 of the Lease shall apply.
		

		
			8.Attorneys’ Fees.  Should any dispute arise between the parties hereto or their legal representatives, successors and assigns concerning any provision of this Agreement or the rights and duties of any person in relation thereto, the party prevailing in such dispute shall be entitled, in addition to such other relief that may be granted, to recover reasonable attorneys’ fees and legal costs in connection with such dispute.
		

		
			9.Governing Law.  This Agreement shall be governed and construed under the laws of the State of California.
		

		
			10.Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original, but such counterparts, when taken together, shall constitute one agreement. For the purposes hereof, a facsimile, electronic, or other non-original copy of any counterpart shall be treated as an original counterpart
		

		
			11.Binding Effect.  This Agreement shall inure to the benefit of, and shall be binding upon, the parties hereto and their respective legal representatives, successors and assigns.
		

		
			12.Time of the Essence.  Time is of the essence of this Agreement and the provisions contained herein.
		

		
			
		

		
			

		 

		

		
			13.Further Assurances.  Landlord and Tenant hereby agree to execute such further documents or instruments as may be necessary or appropriate to carry out the intention of this Agreement, provided that same do not increase Tenant’s obligations or liabilities or decrease Tenant’s rights, other than to a de minimis extent.
		

		
			14.Voluntary Agreement.  The parties have read this Agreement and mutual release as contained herein, and on the advice of counsel they have freely and voluntarily entered into this Agreement.
		

		
			IN WITNESS WHEREOF, Landlord and Tenant have executed this Agreement as of the day and year first above written.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						“LANDLORD”

				
	
					
						 

					
					
						HCP LIFE SCIENCE REIT, INC.

				
	
					
						 

					
					
						a Maryland corporation

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						// Scott Bohn

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Its: 

					
					
						Senior Vice President

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						“TENANT”

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						INNOVIVA, INC.,

				
	
					
						 

					
					
						a Delaware corporation

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						// Geoffrey Hulme

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Its: 

					
					
						Interim Principal Executive Officer

				

		
			 
		

		
			
		

		
			

		 

		

		
			 
		

		
			EXHIBIT A
		

		
			 
		

		
			REMAINING FF&E
		

		
			 
		

		
			The entire Premises is to be delivered “AS IS” by Tenant. Tenant will remove movable items such as office furniture, equipment, white wall boards and decorations except those items listed below.lxu-ex101_97.htm

 

Exhibit 10.1

 

Certain identified information has been excluded from the exhibit because it is both (i) not material and (ii) would likely cause competitive harm to the company, if publicly disclosed.  [***] indicates material that was omitted.

 

SECOND AMENDMENT TO AMMONIA PURCHASE AND SALE AGREEMENT

Between KOCH FERTILIZER, LLC  and EL DORADO CHEMICAL COMPANY

 

 

THIS SECOND AMENDMENT TO AMMONIA PURCHASE AND SALE AGREEMENT (“Second Amendment”) between KOCH FERTILIZER, LLC (“Buyer”) and EL DORADO CHEMICAL COMPANY (“Seller”), is entered into this 30th day of  September, 2019 (“Effective Date”).

 

WHEREAS, Buyer and Seller are parties to that certain Ammonia Purchase and Sale Agreement dated November 2, 2015 (as amended by that certain First Amendment to Ammonia Purchase and Sales Agreement with an effective date of September 30 ,2018, the “Agreement”) with the first Contract Year commencing on July 1, 2016, pursuant to which Seller supplies Ammonia to Buyer;

 

WHEREAS, Buyer and Seller mutually desire to amend the Agreement as hereinafter provided.  

 

NOW THEREFORE, in consideration of the premises and the mutual covenants herein contained, the Parties agree as follows:       

 

	
 
	
1.
	
Defined Terms:  Any capitalized term not defined herein shall have the meaning given to such term in the Agreement. 

 

	
 
	
2.
	
Term.  Section 7 entitled “Term” shall be deleted in its entirety and replaced with the following: 

 

“The initial term of the Agreement shall commence on the Effective Date and shall terminate after six (6) Contract Years on June 30, 2022; provided, this Agreement shall automatically continue for one or more additional terms of one (1) Contract year each unless terminated by either party by delivering written notice of termination at least nine (9) months prior to the end of the initial or any additional term, as applicable (collectively, the Term”).”

 

	
 
	
3.
	
Quantity.  The first paragraph of Section 9 entitled “Quantity” shall be deleted in its entirety and replaced with the following: 

 

“Commencing on the Completion Date through June 30, 2019, Buyer agrees to purchase from Seller, and Seller agrees to sell to Buyer up to a maximum of [***] of Ammonia per month (through September 30, 2019, the “Expected Quantity”).  Commencing on July 1, 2019 and through September 30, 2019, Buyer agrees to purchase from Seller and Seller agrees to sell to Buyer, no less than [***] and up 

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31412770.2

to a maximum of [***] of Ammonia per month. Commencing on October 1, 2019 and through the remaining Term, Buyer agrees to purchase from Seller and Seller agrees to sell to Buyer, no less than [***] and up to a maximum of [***]  of Ammonia per month (from and after October 1, 2019, the “Expected Quantity”), except as may be otherwise agreed between the Parties.  Buyer shall not be required to purchase more than [***] of Ammonia in any month, except as may be agreed under the following paragraph of this Section 9.”

 

	
 
	
4.
	
Section 19, Exclusivity and Other Rights.  – Section 19 entitled “Exclusivity and Other Rights” shall be deleted in its entirety and replaced with the following: 

 

“Buyer shall have the exclusive right to purchase all Ammonia in excess of Seller’s or Seller’s Affiliate’s requirements for its Downstream Facilities; provided and except, that Seller may sell Ammonia (i) to the agricultural market, but only if delivered by truck; (ii) to Albemarle Corporation, (iii) to any other third parties up to a maximum of [***] per Contract Year in the aggregate for all such sales, and (iv) that constitutes the Unpurchased Quantity.  Seller acknowledges and agrees that, in addition to all other remedies available (at law or otherwise) to Buyer, Buyer shall be entitled to equitable relief (including injunction and specific performance) as a remedy for any breach or threatened breach of any provision of this Section 19, and Buyer shall not be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition to obtaining any remedy referred to in this Section 19, and Seller waives any right it may have to require that Buyer obtain, furnish or post any such bond or similar instrument.”

 

	
 
	
5.
	
Appendix III.  The definition of “Discount” set forth in Appendix III shall be deleted in its entirety and replaced with the following:  

 

“Discount ” means (a) [***] through June 30, 2019, (b) [***]  from July 1, 2019 through June 30, 2020, and (c) [***] from July 1, 2020 through the remaining Contract Years.  

 

 

	
 
	
6.
	
Ratification of Agreement.  Except as expressly amended herein, the terms, covenants and conditions of the Agreement shall remain in full force and effect without modification or amendment, and the parties hereto ratify and reaffirm the same in its entirety.  

 

	
 
	
7.
	
Miscellaneous.  This Second Amendment shall be governed by and construed in accordance with the governing law set forth in the Agreement, without regard to the conflict of laws or principles.  In the event that the terms of the Agreement conflict or are inconsistent with those of this Second Amendment, the terms of the Second Amendment shall govern.  The provisions of this Second Amendment shall be binding upon, and shall inure to the benefit of, the parties hereto and each of their respective representatives, successors, and assigns.  This Second Amendment may be executed in counterparts, each of which shall be deemed an original and both of which together shall constitute one and the same agreement.  This signed Second Amendment or counterparts may be transmitted electronically or stored electronically as a photocopy (such as in .pdf format).  The parties agree that electronically transmitted or stored copies will be enforceable as original documents. 

2

31412770.2

 

IN WITNESS HEREOF, the Parties have caused this Second amendment to be duly executed by their authorized representatives as of the Effective Date.   

 

 

	
KOCH FERTILIZER, LLC
	
 
	
EL DORADO CHEMICAL COMPANY

	
 
	
 
	
 

	
By:
	
/s/ Dion Mick
	
 
	
By:
	
/s/ Mark T Behrman

	
Name:
	
Dion Mick
	
 
	
Name:
	
Mark T. Behrman

	
Title:
	
VP North American Ammonia & Industrial Products
	
 
	
Title:
	
Chief Executive Officer

	
Date:
	
October 7, 2019
	
 
	
Date:
	
September 30, 2019

 

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