Document:

ODYNE
      CORPORATION

    89
      Cabot
      Court, Suite L

    Hauppauge,
      New York 11788

     

    March
      27,
      2008

     

    The
      Quercus Trust

    1835
      Newport Blvd.

    A109-PMB
      467

    Costa
      Mesa, California 92627

     

    Spinel
      Finance LLC

    310
      East
      Shore Road, Suite 311

    Great
      Neck, New York 11023

     

    Ladies
      and Gentlemen:

     

    Reference
      is made to the Securities Purchase Agreement, dated as of March __, 2008 (the
      “Purchase
      Agreement”),
      by
      and between Odyne Corporation, a Delaware corporation (the “Company”),
      and
      each of the several purchasers named in Exhibit A attached thereto (the
“Purchasers”),
      pursuant to which the Company has agreed to issue and sell to the Purchasers
      an
      aggregate of up to 11,666,667 shares of Common Stock and warrants to purchase
      up
      to an equivalent number of shares of Common Stock. All capitalized terms not
      defined herein shall have the meaning ascribed to them in the Purchase Agreement
      and the Warrants (as defined in the Purchase Agreement),
      respectively.

     

    The
      Company hereby agrees to the following:

     

    (a) Within
      150 calendar days following the Closing Date, the Company shall cause a
      registration statement on Form S-3 (or Form S-1 or such other Form appropriate
      for such purpose) (the “Registration
      Statement”)
      to be
      filed with the U.S. Securities and Exchange Commission (the “Commission”)
      under
      the Securities Act of 1933, as amended (the “Securities
      Act”),
      for
      an offering to be made on a continuous basis pursuant to Rule 415 of the
      Securities Act with respect to (i) the Shares and (ii) the Warrant Shares to
      be
      issued to or on behalf of the Purchasers at the Closing pursuant to Section
      2.1
      of the Purchase Agreement (together, the “Registrable
      Securities”).
      Such
      Registration Statement (and any additional registration statement) shall contain
      the "Plan of Distribution" attached hereto as Annex
      A.
      The
      Company shall cause such Registration Statement to be declared effective under
      the Securities Act as
      soon as
      possible but, in any event, no later than 240 calendar days following the
      Closing Date (the “Outside
      Date”),
      and
      shall use its reasonable best efforts to keep the Registration Statement
      continuously effective for three years after the effective date of the
      Registration Statement (the “Effectiveness
      Period”).
      By
      5:00 p.m. (New York City time) on the Business Day immediately following the
      effective date of such Registration Statement (or any additional registration
      statement), the Company shall file with the Commission in accordance with Rule
      424 under the Securities Act the final prospectus to be used in connection
      with
      sales pursuant to such Registration Statement (or any additional registration
      statement), whether or not such filing is technically required under such Rule.
      For purposes of this Agreement, “registration
      statement”
refers
      to any registration statement (including the Registration Statement) covering
      the Registrable Securities or listing either of the Purchasers as a “Selling
      Stockholder.”

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b) (i)
      Notwithstanding anything to the contrary contained in this Agreement, if the
      staff of the Commission (the “Staff”),
      or
      the Commission, seeks to characterize any offering pursuant to a registration
      statement filed in accordance with this Agreement as constituting a primary
      offering of securities by or on behalf of the Company, or in any other manner,
      such that the Staff or the Commission does not permit such registration
      statement (including the Registration Statement) to become effective and used
      for resales in a continuous at the market offering pursuant to Rule 415 under
      the Securities Act by the Purchasers (or as otherwise may be acceptable to
      each
      Purchaser) without being named therein as “underwriters” (a “Resale
      Registration Statement”),
      and
      the Company has used its best efforts to contest such determination and in
      such
      regard uses its reasonable best efforts to cause the Commission to permit the
      affected Purchasers or their respective counsel to participate in Commission
      conversations on such issues with the Company and the Company timely conveys
      relevant information concerning such issues with the affected Purchasers and
      their respective counsel, then the Company shall have the right to reduce the
      number of Registrable Securities to be included in such registration statement
      by all Purchasers, to the extent that the Staff or the Commission shall permit
      such registration statement to become effective as a Resale Registration
      Statement. In making such reduction, subject to the last sentence of this
      paragraph (b)(i), the Company shall reduce the number of Registrable Securities
      (first as to any Shares and second as to any Warrant Shares) to be included
      by
      all Purchasers on a pro rata basis (based upon the number of Registrable
      Securities otherwise required to be included for each Purchaser), unless the
      inclusion of Registrable Securities by a particular Purchaser or a particular
      type of Purchasers is the cause of the refusal by the Staff or the Commission
      to
      allow such registration statement to become effective as a Resale Registration
      Statement, in which event the Registrable Securities held by such Purchaser
      or
      type of Purchasers shall be the only Registrable Securities subject to reduction
      (and if by a set of Purchasers on a pro rata basis with respect to such
      Purchasers or on such other basis as would result in the exclusion of the least
      number of shares by all such Purchasers). In addition, if the Staff or the
      Commission requires any Purchaser seeking to sell under a Registration Statement
      filed pursuant to this Agreement to be identified as an “underwriter” in order
      to permit such Registration Statement to become effective, and such Purchaser
      does not consent to being so named as an underwriter in such Registration
      Statement, then, in each such case, the Company shall be entitled, following
      good faith discussions with the Staff and/or the Commission and the affected
      Purchaser, to reduce the total number of Registrable Securities to be registered
      on behalf of such Purchaser, until such time as the Staff or the Commission
      does
      not require such identification. Notwithstanding the foregoing, any reduction
      pursuant to this paragraph (b)(i) shall first be applied pro-rata to (i) any
      securities not issued pursuant to the Purchase Agreement and (ii) any securities
      issued or issuable to any placement agent in connection with the transactions
      contemplated by the Purchase Agreement.

     

    (ii)
      In
      the event of any reduction in Registrable Securities to be included in a
      registration statement (including the Registration Statement) pursuant to this
      paragraph, an affected Purchaser shall have the right, upon delivery of a
      written request to the Company signed by such Purchaser, to require the Company
      to file an additional registration statement(s) on Form S-3 (or Form S-1 or
      such
      other Form appropriate for such purpose) with the Commission under the
      Securities Act for an offering to be made on a continuous basis pursuant to
      Rule
      415 of the Securities Act within 90 calendar days after the Company’s receipt of
      any such request (the “Additional
      Filing Date”)
      for
      resale by such Purchaser, in a manner reasonably acceptable to such Purchaser,
      of any Registrable Securities which are not then covered by an existing and
      effective registration statement (including the Registration Statement) and
      the
      Company shall following such request use its reasonable best efforts to cause
      such additional registration statement(s) to be declared effective under the
      Securities Act as soon as possible but, in any event, no later than 60 calendar
      days following the applicable Additional Filing Date (the “Additional
      Outside Date”),
      and
      kept continuously effective for three years after the effective date of any
      such
      registration statement (in each such case, the “Additional
      Effectiveness Period”)
      (it
      being understood that the demand right under this sentence may be exercised
      by a
      Purchaser multiple times and with respect to limited amounts of Registrable
      Securities to the extent limitations are required in order to permit the resale
      thereof by such Purchaser pursuant to a Resale Registration Statement as
      contemplated above); and the Company shall otherwise use its reasonable best
      efforts to satisfy the registration rights set forth in this Agreement as
      promptly as practicable. 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (c) If
      for
      any reason or for no reason whatsoever, either (i) the Registration Statement
      is
      not declared effective by the Commission prior to the Outside Date or any
      additional registration statement is not filed by the Additional Filing Date
      or
      is not declared effective by the Commission prior to the Additional Outside
      Date, or (ii) after the effective date of the Registration Statement (or any
      additional registration statement), without regard for the reason thereunder
      or
      efforts therefor, such Registration Statement (or any additional registration
      statement) ceases for any reason to be effective and available to the Purchasers
      as to such Registrable Securities to which it is required to cover at any time
      prior to the expiration of the Effectiveness Period or Additional Effectiveness
      Period, as the case may be, for more than an aggregate of 30 Trading Days (which
      need not be consecutive), or (iii) following the expiration of the Effectiveness
      Period or any Additional Effectiveness Period, any portion of this Warrant
      remains outstanding and/or unexercised, as to any Warrant Shares previously
      covered by the respective existing and effective registration statement, then
      in
      any such case, a Purchaser may notify the Company in a Notice of Cashless
      Exercise, attached as Exhibit
      B
      to the
      Warrant, of its election to utilize cashless exercise under the Warrant relating
      to the Warrant Shares that are not then covered by an existing and effective
      registration statement (including the Registration Statement) (but only after
      exercising for cash Warrant Shares that are then covered by an existing and
      effective registration statement (including the Registration Statement)), in
      which event the Company shall issue to the Purchaser the number of Warrant
      Shares determined in accordance with the cashless exercise provisions of the
      Warrant.

     

    (d) Until
      the
      Registration Statement (or any additional registration statement) has become
      effective under the Securities Act, each certificate representing the
      Registrable Securities, and all certificates and instruments issued in transfer
      thereof, shall be endorsed with the restrictive legend as set forth in Section
      6.2 of the Purchase Agreement. Upon the effectiveness of the Registration
      Statement (or any additional registration statement), the Company shall, upon
      the request of any Purchaser, issue to such Purchaser a replacement certificate
      without such legend in exchange for any such legended certificate (as to the
      Shares) and issue to such Purchaser upon exercise of its Warrants a certificate
      without such legend in any and all cases in accordance with the provisions
      of
      the Purchase Agreement.

     

    (e) Each
      Purchaser agrees to furnish to the Company a completed Questionnaire in the
      form
      attached to this Agreement as Annex
      B
      (a
“Selling
      Holder Questionnaire”).
      Not
      less than four Trading Days prior to the filing of the Registration Statement
      (or any additional registration statement) or any related Prospectus or any
      amendment or supplement thereto, the Company shall furnish to each Purchaser
      copies of the “Selling Stockholders” section of such document, the “Plan of
      Distribution” and any risk factor contained in such document that addresses
      specifically this transaction or the Selling Stockholders, as proposed to be
      filed which documents will be subject to the review of such Purchaser. The
      Company shall not file a registration statement (including the Registration
      Statement), any Prospectus or any amendments or supplements thereto in which
      the
“Selling Stockholder” section thereof differs from the disclosure received from
      a Purchaser in its Selling Holder Questionnaire (as amended or supplemented).
      The Company will not name the Purchaser as an “underwriter” in any registration
      statement without the Purchaser’s prior written consent.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (f) The
      Company shall (i) prepare and file with the Commission such amendments,
      including post-effective amendments, to such Registration Statement (or any
      additional registration statement) and the Prospectus used in connection
      therewith as may be necessary to keep such Registration Statement (or any
      additional registration statement) continuously effective as to the applicable
      Registrable Securities for its Effectiveness Period or Additional Effectiveness
      Period, as the case may be, and prepare and file with the Commission such
      additional registration statements in order to register for resale under the
      Securities Act all of the Registrable Securities; (ii) cause the related
      Prospectus to be amended or supplemented by any required Prospectus supplement,
      and as so supplemented or amended to be filed pursuant to Rule 424; (iii)
      respond as promptly as reasonably possible to any comments received from the
      Commission with respect to the Registration Statement (and any additional
      registration statements) or any amendment thereto and, as promptly as reasonably
      possible provide the Purchasers true and complete copies of all correspondence
      from and to the Commission relating to such Registration Statement (and any
      additional registration statements) that would not result in the disclosure
      to
      the Purchasers of material and non-public information concerning the Company;
      and (iv) comply in all material respects with the provisions of the Securities
      Act and the Exchange Act with respect to the Registration Statement (and any
      additional registration statement) and the disposition of all Registrable
      Securities covered by each registration statement (including the Registration
      Statement).

     

    (g) The
      Company shall notify the Purchasers as promptly as reasonably possible (and,
      in
      the case of (i)(A) below, not less than three Trading Days prior to such filing
      and, in the case of (v) below, not less than three Trading Days prior to the
      financial statements in any registration statement (including the Registration
      Statement) becoming ineligible for inclusion therein) and (if requested by
      any
      such Person) confirm such notice in writing no later than one Trading Day
      following the day (i)(A) when a Prospectus or any Prospectus supplement or
      post-effective amendment to any registration statement (including the
      Registration Statement) is proposed to be filed; (B) when the Commission
      notifies the Company whether there will be a "review" of any registration
      statement (including the Registration Statement) and whenever the Commission
      comments in writing on any registration statement (including the Registration
      Statement) (the Company shall provide true and complete copies thereof and
      all
      written responses thereto to each of the Purchasers that pertain to the
      Purchasers as a Selling Stockholder or to the Plan of Distribution, but not
      information which the Company believes would constitute material and non-public
      information); and (C) with respect to each registration statement (including
      the
      Registration Statement) or any post-effective amendment, when the same has
      become effective; (ii) of any request by the Commission or any other Federal
      or
      state governmental authority for amendments or supplements to a registration
      statement (including the Registration Statement) or Prospectus or for additional
      information; (iii) of the issuance by the Commission of any stop order
      suspending the effectiveness of a registration statement (including the
      Registration Statement) covering any or all of the Registrable Securities or
      the
      initiation of any Proceedings for that purpose; (iv) of the receipt by the
      Company of any notification with respect to the suspension of the qualification
      or exemption from qualification of any of the Registrable Securities for sale
      in
      any jurisdiction, or the initiation or threatening of any Proceeding for such
      purpose; and (v) of the occurrence of any event or passage of time that makes
      the financial statements included in a registration statement (including the
      Registration Statement) ineligible for inclusion therein or any statement made
      in a registration statement (including the Registration Statement) or Prospectus
      or any document incorporated or deemed to be incorporated therein by reference
      untrue in any material respect or that requires any revisions to such
      registration statement (including the Registration Statement), Prospectus or
      other documents so that, in the case of such registration statement (including
      the Registration Statement) or the Prospectus, as the case may be, it will
      not
      contain any untrue statement of a material fact or omit to state any material
      fact required to be stated therein or necessary to make the statements therein,
      in light of the circumstances under which they were made, not misleading. Upon
      the occurrence of any event contemplated by clause (v), as promptly as
      reasonably possible, prepare a supplement or amendment, including a
      post-effective amendment, to the affected registration statements (including
      the
      Registration Statement) or a supplement to the related Prospectus or any
      document incorporated or deemed to be incorporated therein by reference, and
      file any other required document so that, as thereafter delivered, no
      registration statement (including the Registration Statement) nor any Prospectus
      will contain an untrue statement of a material fact or omit to state a material
      fact required to be stated therein or necessary to make the statements therein,
      in light of the circumstances under which they were made, not misleading.

     

    
      
        
        

      

      
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    (h) The
      Company shall furnish to all Purchasers, at the Company’s expense, such number
      of copies of any registration statement (including the Registration Statement)
      and each amendment and supplement thereto, preliminary prospectus, final
      prospectus and such other documents as such Purchasers may reasonably request
      in
      order to facilitate the public offering of their shares of Common
      Stock.

     

    (i) The
      Company shall promptly, at the Company’s expense, use its reasonable best
      efforts to register or qualify any shares of Common Stock covered by any
      registration statement (including the Registration Statement) under such state
      securities or blue sky laws of such jurisdictions as such Purchasers
      participating in such registration may reasonably request, except that the
      Company shall not for any purpose be required to execute a general consent
      to
      service of process or to qualify to do business as a foreign corporation in
      any
      jurisdiction where it is not so qualified.

     

    (j) The
      Company shall notify the Purchasers, promptly after it shall receive notice
      thereof, of the date and time when any registration statement (including the
      Registration Statement) and each post-effective amendment thereto has become
      effective or a supplement to any prospectus forming a part of any registration
      statement (including the Registration Statement) has been filed.

     

    (k) The
      Company shall advise the Purchasers, promptly after it shall receive notice
      or
      obtain knowledge thereof, of the issuance of any stop order by the Commission
      suspending the effectiveness of any registration statement (including the
      Registration Statement) or the initiation or threatening of any proceeding
      for
      the purpose and promptly use its best efforts to prevent the issuance of any
      stop order or to obtain its withdrawal if such stop order should be
      issued.

     

    (l) All
      registration-related fees and expenses incident to the performance of or
      compliance with this Agreement incurred by the Company shall be borne by the
      Company whether or not any Registrable Securities are sold pursuant to a
      registration statement (including the Registration Statement). 

     

    (m) Neither
      the Company nor any of its security holders (other than the Purchasers in such
      capacity pursuant hereto) may include securities of the Company in the
      Registration Statement other than the Registrable Securities, and the Company
      shall not during the Effectiveness Period enter into any agreement providing
      any
      such right to any of its security holders to be so included.

     

    (n) (i)
      The
      Company hereby agrees to indemnify and hold harmless each Purchaser, the
      officers, directors, agents, investment advisors, partners, members and
      employees of each of them, each Person who controls any such Purchaser (within
      the meaning of Section 15 of the Securities Act or Section 20 of the Exchange
      Act) and the officers, directors, agents and employees of each such controlling
      Person from and against (collectively, a “Purchaser
      Party”),
      and
      agrees to reimburse such Purchaser Party with respect to, any and all claims,
      actions (actual or threatened), demands, losses, damages, liabilities, costs
      and
      expenses to which such Purchaser Party may become subject, insofar as such
      claims, actions, demands, losses, damages, liabilities, costs or expenses are
      caused by any untrue statement or alleged untrue statement of any material
      fact
      contained in the Registration Statement (or any additional registration
      statements), any prospectus contained therein, or any amendment or supplement
      thereto, or are caused by the omission or alleged omission to state therein
      a
      material fact required to be stated therein or necessary to make the statements
      therein not misleading; provided,
      however,
      that
      the Company shall not be liable in any such case to the extent that any such
      claim, action, demand, loss, damage, liability, cost or expense is caused by
      an
      untrue statement or alleged untrue statement or omission or alleged omission
      so
      made in conformity with information furnished in writing by such Purchaser
      for
      use in the preparation thereof; provided further,
      however,
      that
      this indemnity is subject to the condition that insofar as it relates to any
      untrue statement, omission or alleged omission made in a preliminary prospectus
      but eliminated or remedied in the final prospectus, such indemnity shall not
      inure to the benefit of any Purchaser Party if a copy of the final prospectus
      was not furnished to the Person asserting the claim, action, demand, loss,
      damage or liability.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (ii)
      Each
      Purchaser, severally and not jointly, hereby agrees to indemnify and hold
      harmless the Company, its officers, directors, agents and employees and each
      Person who controls the Company within the meaning of the Securities Act, from
      and against, and agrees to reimburse the Company, its officers, directors,
      agents and employees and controlling Persons with respect to, any and all
      claims, actions, demands, losses, damages, liabilities, costs or expenses to
      which the Company, its officers, directors, agents and employees or such
      controlling Persons may become subject under the Securities Act or otherwise,
      insofar as such claims, actions, demands, losses, damages, liabilities, costs
      or
      expenses are caused by any untrue or alleged untrue statement of any material
      fact contained in the Registration Statement, any prospectus contained or any
      amendment or supplement thereto, or are caused by the omission or the alleged
      omission to state therein a material required to be stated therein or necessary
      to make the statements therein, in light of the circumstances in which they
      were
      made, not misleading, in each case to the extent, but only to the extent that
      such untrue statement or alleged untrue statement or alleged untrue statement
      or
      omission or alleged omission was so made in reliance upon and in conformity
      with
      information furnished in writing by such Purchaser for use in the preparation
      thereof. In no event shall the liability of any Purchaser hereunder be greater
      in amount than the dollar amount of the net proceeds received by such Purchaser
      upon the sale of the Registrable Securities giving rise to such indemnification
      obligation.

     

    (iii)
      If
      any claim shall be asserted against any person (an “Indemnified
      Person”)
      for
      which such Person intends to seek indemnification pursuant to Section (m)(i)
      or
      (ii), as the case may be, such Indemnified Person shall give prompt written
      notice to the Company or the Purchaser, as the case may be, of the nature of
      such claim, but the failure to give such notice shall not relieve the Company
      or
      the Purchasers, as the case may be, of their obligations under this Section
      (m)
      unless it or they have been prejudiced substantially thereby. The Company or
      the
      Purchasers shall have the exclusive right to conduct, at their expense, through
      counsel of its or their own choosing, which counsel is approved by the
      Indemnified Person (which approval may not be unreasonably withheld), the
      defense of any such claim, and may compromise or settle such claims solely
      with
      the prior written consent of Company or the Purchaser, as applicable (which
      consent shall not be unreasonably withheld). Unless otherwise waived in writing
      any such compromise or settlement shall include a full release of
      liability.

     

    (o) This
      Agreement may be executed in any number of counterparts, each of which when
      so
      executed shall be deemed to be an original and, all of which taken together
      shall constitute one and the same Agreement. In the event that any signature
      is
      delivered by facsimile transmission, such signature shall create a valid binding
      obligation of the party executing (or on whose behalf such signature is
      executed) the same with the same force and effect as if such facsimile signature
      were the original thereof.

     

    (p) All
      questions concerning the construction, validity, enforcement and interpretation
      of this Agreement shall be governed by and construed and enforced in accordance
      with the internal laws of the State of New York, without regard to the
      principles of conflicts of law thereof. Each party agrees that all Proceedings
      concerning the interpretations, enforcement and defense of the transactions
      contemplated by this Agreement (whether brought against a party hereto or its
      respective Affiliates, employees or agents) will be commenced in the New York
      Courts. Each party hereto hereby irrevocably submits to the exclusive
      jurisdiction of the New York Courts for the adjudication of any dispute
      hereunder or in connection herewith or with any transaction contemplated hereby
      or discussed herein, and hereby irrevocably waives, and agrees not to assert
      in
      any Proceeding, any claim that it is not personally subject to the jurisdiction
      of any New York Court, or that such Proceeding has been commenced in an improper
      or inconvenient forum. Each party hereto hereby irrevocably waives personal
      service of process and consents to process being served in any such Proceeding
      by mailing a copy thereof via registered or certified mail or overnight delivery
      (with evidence of delivery) to such party at the address in effect for notices
      to it under this Agreement and agrees that such service shall constitute good
      and sufficient service of process and notice thereof. Nothing contained herein
      shall be deemed to limit in any way any right to serve process in any manner
      permitted by law. Each party hereto hereby irrevocably waives, to the fullest
      extent permitted by applicable law, any and all right to trial by jury in any
      Proceeding arising out of or relating to this Agreement or the transactions
      contemplated hereby. If either party shall commence a Proceeding to enforce
      any
      provisions of this Agreement, then the prevailing party in such Proceeding
      shall
      be reimbursed by the other party for its attorney’s fees and other costs and
      expenses incurred with the investigation, preparation and prosecution of such
      Proceeding.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    The
      Company hereby confirms that this Agreement has been duly authorized by its
      Board of Directors.

     

    If
      the
      foregoing is acceptable to you, please sign below where indicated and return
      a
      copy of this letter to the Company, whereupon this letter shall become a binding
      agreement between us.

     

    ODYNE
      CORPORATION

     

    By:     
      /s/ Alan
      Tannenbaum         

    Alan
      Tannenbaum

    Chief
      Executive Officer

    Agreed
      to
      and Accepted:

     

    THE
      QUERCUS TRUST

     

    By:____________________________

         
      Name:

          Title:

     

    SPINEL
      FINANCE LLC

     

    By:____________________________

         
      Name:

         
      Title:

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    Annex
      A

     

    Plan
      of Distribution

     

    The
      Selling Stockholders and any of their pledgees, donees, transferees, assignees
      and successors-in-interest may, from time to time, sell any or all of their
      shares of Common Stock on any stock exchange, market or trading facility on
      which the shares are traded or in private transactions. These sales may be
      at
      fixed or negotiated prices. The Selling Stockholders may use any one or more
      of
      the following methods when selling shares:

     

    
      	·  	
              ordinary
                brokerage transactions and transactions in which the broker-dealer
                solicits Investors;

            

    

     

    
      	·  	
              block
                trades in which the broker-dealer will attempt to sell the shares
                as agent
                but may position and resell a portion of the block as principal to
                facilitate the transaction;

            

    

     

    
      	·  	
              purchases
                by a broker-dealer as principal and resale by the broker-dealer for
                its
                account;

            

    

     

    
      	·  	
              an
                exchange distribution in accordance with the rules of the applicable
                exchange;

            

    

     

    
      	·  	
              privately
                negotiated transactions;

            

    

     

    
      	·  	
              to
                cover short sales made after the date that this Registration Statement
                is
                declared effective by the Commission;

            

    

     

    
      	·  	
              broker-dealers
                may agree with the Selling Stockholders to sell a specified number of such
                shares at a stipulated price per
                share;

            

    

     

    
      	·  	
              a
                combination of any such methods of sale;
                and

            

    

     

    
      	·  	
              any
                other method permitted pursuant to applicable
                law.

            

    

     

    The
      Selling Stockholders may also sell shares under Rule 144 under the Securities
      Act, if available, rather than under this prospectus.

     

    Broker-dealers
      engaged by the Selling Stockholders may arrange for other brokers-dealers to
      participate in sales. Broker-dealers may receive commissions or discounts from
      the Selling Stockholders (or, if any broker-dealer acts as agent for the
      purchaser of shares, from the purchaser) in amounts to be negotiated. The
      Selling Stockholders do not expect these commissions and discounts to exceed
      what is customary in the types of transactions involved.

     

    The
      Selling Stockholders may from time to time pledge or grant a security interest
      in some or all of the Shares owned by them and, if they default in the
      performance of their secured obligations, the pledgees or secured parties may
      offer and sell shares of Common Stock from time to time under this prospectus,
      or under an amendment to this prospectus under Rule 424(b)(3) or other
      applicable provision of the Securities Act of 1933 amending the list of selling
      stockholders to include the pledgee, transferee or other successors in interest
      as selling stockholders under this prospectus.

     

    Upon
      the
      Company being notified in writing by a Selling Stockholder that any material
      arrangement has been entered into with a broker-dealer for the sale of Common
      Stock through a block trade, special offering, exchange distribution or
      secondary distribution or a purchase by a broker or dealer, a supplement to
      this
      prospectus will be filed, if required, pursuant to Rule 424(b) under the
      Securities Act, disclosing (i) the name of each such Selling Stockholder and
      of
      the participating broker-dealer(s), (ii) the number of shares involved, (iii)
      the price at which such the shares of Common Stock were sold, (iv)the
      commissions paid or discounts or concessions allowed to such broker-dealer(s),
      where applicable, (v) that such broker-dealer(s) did not conduct any
      investigation to verify the information set out or incorporated by reference
      in
      this prospectus, and (vi) other facts material to the transaction. In addition,
      upon the Company being notified in writing by a Selling Stockholder that a
      donee
      or pledgee intends to sell more than 500 shares of Common Stock, a supplement
      to
      this prospectus will be filed if then required in accordance with applicable
      securities law.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    The
      Selling Stockholders also may transfer the shares of Common Stock in other
      circumstances, in which case the transferees, pledgees or other successors
      in
      interest will be the selling beneficial owners for purposes of this
      prospectus.

     

    The
      Selling Stockholders and any broker-dealers or agents that are involved in
      selling the shares may be deemed to be "underwriters" within the meaning of
      the
      Securities Act in connection with such sales. In such event, any commissions
      received by such broker-dealers or agents and any profit on the resale of the
      shares purchased by them may be deemed to be underwriting commissions or
      discounts under the Securities Act. Discounts, concessions, commissions and
      similar selling expenses, if any, that can be attributed to the sale of
      Securities will be paid by the Selling Stockholder and/or the purchasers. Each
      Selling Stockholder has represented and warranted to the Company that it
      acquired the securities subject to this Registration Statement in the ordinary
      course of such Selling Stockholder’s business and, at the time of its purchase
      of such securities such Selling Stockholder had no agreements or understandings,
      directly or indirectly, with any person to distribute any such securities.
      

     

    The
      Company has advised each Selling Stockholder that it may not use shares
      registered on this Registration Statement to cover short sales of Common Stock
      made prior to the date on which this Registration Statement shall have been
      declared effective by the Commission. If a Selling Stockholder uses this
      prospectus for any sale of the Common Stock, it will be subject to the
      prospectus delivery requirements of the Securities Act. The Selling Stockholders
      will be responsible to comply with the applicable provisions of the Securities
      Act and Exchange Act, and the rules and regulations thereunder promulgated,
      including, without limitation, Regulation M, as applicable to such Selling
      Stockholders in connection with resales of their respective shares under this
      Registration Statement.

     

    The
      Company is required to pay all fees and expenses incident to the registration
      of
      the shares, but the Company will not receive any proceeds from the sale of
      the
      Common Stock. The Company has agreed to indemnify the Selling Stockholders
      against certain losses, claims, damages and liabilities, including liabilities
      under the Securities Act. 

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    Annex
      B

     

    ODYNE
      CORPORATION

     

    Selling
      Securityholder Notice and Questionnaire

     

    The
      undersigned beneficial owner of common stock (the “Common
      Stock”),
      of
      Odyne Corporation, a Delaware corporation (the “Company”),
      understands that the Company has filed or intends to file with the Securities
      and Exchange Commission (the “Commission”)
      a
      Registration Statement for the registration and resale of the Registrable
      Securities, in accordance with the terms of the Registration Rights Agreement,
      dated as of March __, 2007 (the “Registration
      Rights Agreement”),
      among
      the Company and the Purchasers named therein. A copy of the Registration Rights
      Agreement is available from the Company upon request at the address set forth
      below. All capitalized terms used and not otherwise defined herein shall have
      the meanings ascribed thereto in the Registration Rights Agreement.

     

    The
      undersigned hereby provides the following information to the Company and
      represents and warrants that such information is accurate:

     

    QUESTIONNAIRE

     

    
      	1. Name.	 
	 	 
	
              (a)

            	
              Full
                Legal Name of Selling Securityholder

            
	 	 
	 	 
	 	 
	 	 
	
              (b)

            	
              Full
                Legal Name of Registered Holder (if not the same as (a) above) through
                which Registrable Securities listed in Item 3 below are
                held:

            
	 	 
	 	 
	 	 
	 	 
	
              (c)

            	
              Full
                Legal Name of Natural Control Person (which means a natural person
                who
                directly or indirectly alone or with others has power to vote or
                dispose
                of the securities covered by the questionnaire):

            
	 	 
	 	
            
	 	 
	 	 

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	2. Address for
              Notices to
              Selling Securityholder:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	
              Telephone: 

            	 
	 	 
	
              Fax: 

            	 
	 	 
	
              Contact
                Person: 

            	 
	 	 
	 	 
	3. Beneficial
              Ownership of
              Registrable Securities:
	 	 
	 	 
	 	
              Type
                and Principal Amount of Registrable Securities beneficially
                owned:

            
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

    

    
       

    

    4.
      Broker-Dealer Status:

     

    
      	 	
              (a)

            	
              Are
                you a broker-dealer?

            

    

     

    Yes
       ̈  No
       ̈ 

     

    
      	 	
              Note:

            	
              If
                yes, the Commission’s staff has indicated that you should be identified as
                an underwriter in the Registration
                Statement.

            

    

     

    
      	 	
              (b)

            	
              Are
                you an affiliate of a
                broker-dealer?

            

    

     

    Yes
       ̈  No
       ̈ 

     

    
      	 	
              (c)

            	
              If
                you are an affiliate of a broker-dealer, do you certify that you
                bought
                the Registrable Securities in the ordinary course of business, and
                at the
                time of the purchase of the Registrable Securities to be resold,
                you had
                no agreements or understandings, directly or indirectly, with any
                person
                to distribute the Registrable
                Securities?

            

    

     

    Yes
       ̈  No
       ̈ 

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      	 	
              Note:

            	
              If
                no, the Commission’s staff has indicated that you should be identified as
                an underwriter in the Registration
                Statement.

            

    

     

    5.
      Beneficial Ownership of Other Securities of the Company Owned by the Selling
      Securityholder.

     

    Except
      as set forth below in this Item 5, the undersigned is not the beneficial or
      registered owner of any securities of the Company other than the Registrable
      Securities listed above in Item 3.

     

    
      	 	
              Type
                and Amount of Other Securities beneficially owned by the Selling
                Securityholder:

            
	 	 
	 	 
	 	 
	 	 
	 	 

    

     

    6.
      Relationships with the Company:

     

    Except
      as set forth below, neither the undersigned nor any of its affiliates, officers,
      directors or principal equity holders (owners of 5% of more of the equity
      securities of the undersigned) has held any position or office or has had any
      other material relationship with the Company (or its predecessors or affiliates)
      during the past three years.

     

    State
      any
      exceptions here:

     

    
      	 	 
	 	 
	 	 

    

     

     

    7.
      The
      Company has advised each Selling Stockholder that it may not use shares
      registered on the Registration Statement to cover short sales of Common Stock
      made prior to the date on which the Registration Statement is declared effective
      by the Commission, in accordance with 1997 Securities and Exchange Commission
      Manual of Publicly Available Telephone Interpretations Section A.65. If a
      Selling Stockholder uses the prospectus for any sale of the Common Stock, it
      will be subject to the prospectus delivery requirements of the Securities Act.
      The Selling Stockholders will be responsible to comply with the applicable
      provisions of the Securities Act and Exchange Act, and the rules and regulations
      thereunder promulgated, including, without limitation, Regulation M, as
      applicable to such Selling Stockholders in connection with resales of their
      respective shares under the Registration Statement.

     

    The
      undersigned agrees to promptly notify the Company of any inaccuracies or changes
      in the information provided herein that may occur subsequent to the date hereof
      and prior to the Effective Date for the Registration Statement.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    By
      signing below, the undersigned consents to the disclosure of the information
      contained herein in its answers to Items 1 through 6 and the inclusion of such
      information in the Registration Statement and the related prospectus. The
      undersigned understands that such information will be relied upon by the Company
      in connection with the preparation or amendment of the Registration Statement
      and the related prospectus.

     

    IN
      WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice
      and Questionnaire to be executed and delivered either in person or by its duly
      authorized agent.

     

     

    
      	Dated:                                                                                      
              	Beneficial
              Owner:                                                                                     
               
	 	 
	 	 

              By:                                                                                                                 
                

                   
Name:
                

              Title: 

            

    

     

     

    PLEASE
      FAX A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN
      THE ORIGINAL BY OVERNIGHT MAIL, TO:

     

    Odyne
      Corporation

    89
      Cabot
      Court, Suite L

    Hauppauge,
      New York 11788

    Attention:
      Mr. Joshua A. Hauser

    President
      and Chief Operating Officer

     

    
      
        
        

      

      
        13Unassociated Document

    
      	
              LR1. Date
                of Lease

            	
              8th
                February 2008

            
	
              LR2. Title
                number(s)

            	
              LR2.1 Landlord’s
                title number

              GM946142

              LR2.2 Other
                title numbers

              None

            
	
              LR3. Parties
                to this Lease

            	
              Landlord

              BREDBURY
                LIMITED (a company incorporated in Jersey with registration number
                83754)
                whose registered office is at First Island House, Peter Street, St.
                Helier, Jersey, Channel Islands and having an address for service
                in the
                UK c/o Leach & Co, 30 St. George Street, London W1S 2FH (ref.
                AKJ/L76-9)

              Tenant

              WLG
                INC (a company incorporated in England with registration number 05663215)
                whose registered office is at Unit A3, Greeba Road, Roundthorn Industrial
                Estate, Wythenshawe, Manchester, M23 9RA

              Other
                parties

              WLG
                (USA) LLC (a company incorporated in Delaware with registration number
                3734306) whose registered office is at 920 East Algonquin Road, Suite
                120
                Schaumberg, IL 60173, USA and having an address for service in the
                UK at
                c/o Unit A3, Greeba Road, Roundthorn Industrial Estate, Wythenshawe,
                Manchester, M23 9RA

            
	
              LR4. Property

            	
              In
                the case of a conflict between this clause and the remainder of this
                lease
                then, for the purposes of registration, this clause shall
                prevail

              Unit
                A, Site 1, Horsfield Way, Bredbury, Stockport as more particularly
                described in Schedule 1

            
	
              LR5. Prescribed
                statements etc.

            	
              None

            
	
              LR6. Term
                for which the Property is leased

            	
              From
                and including 4th
                February 2008 to and including 3rd
                February 2018

            
	
              LR7. Premium

            	
              None

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              LR8. Prohibition
                or restrictions on disposing of this lease

            	
              This
                lease contains a provision that prohibits or restrictions
                dispositions

            
	
              LR9. Rights
                of acquisition etc.

            	
              LR9.1
                Tenant’s contractual rights to renew this lease, to acquire the reversion
                or another lease of the Property, or to acquire an interest in other
                land

              None

              LR9.2
                Tenant’s covenant to (or offer to) surrender this
                lease

              None

              LR9.3
                Landlord’s contractual rights to acquire this lease

              None

            
	
              LR10. Restrictive
                covenants given in this lease by the Landlord in respect of land
                other
                than the Property

            	
              None

            
	
              LR11. Easements

            	
              LR11.1
                Easements granted by this lease for the benefit of the
                Property

              None

              LR11.2 Easements
                granted or reserved by this lease over the Property for the benefit
                of
                other property

              Schedule
                2

            
	
              LR12. Estate
                rent charge burdening the Property

            	
              None

            
	
              LR13. Application
                for standard form restriction

            	
              None

            
	
              LR14. Declaration
                of trust where there is more than one person comprising the
                Tenant

            	
              None
                - not applicable

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    LEASE
      PARTICULARS

     

    
      	
              DATE:

            	
              The
                8th day of February 2008

               

            
	
              LANDLORD:

            	
              BREDBURY
                LIMITED (a company incorporated in Jersey with registration number
                ) whose
                registered office is at First Island House, Peter Street, St. Helier,
                Jersey, Channel Islands and having an address for service in the
                UK c/o
                Leach & Co, 30 St. George Street, London W1S 2FH (ref.
                AKJ/L76-9)

               

            
	
              TENANT:

            	
              WLG
                (UK) LIMITED (a company incorporated in England with registration
                number
                05663215) whose registered office is at Unit A3, Greeba Road, Roundthorn
                Industrial Estate, Wythenshawe, Manchester, M23 9RA

               

            
	
              GUARANTOR

            	
              WLG
                INC (a company incorporated in Delaware with registration number
                3734306)
                whose registered office is at 920 East Algonquin Road, Suite 120
                Schaumberg, IL 60173, USA and having an address for service in the
                UK at
                c/o Unit A3, Greeba Road, Roundthorn Industrial Estate, Wythenshawe,
                Manchester, M23 9RA

               

            
	
              PREMISES:

            	
              Unit
                A, Site 1, Horsfield Way, Bredbury, Stockport as more particularly
                described in Schedule 1

               

            
	
              TERM
                COMMENCEMENT DATE:

            	
              4th
                February 2008

               

            
	
              TERM
                EXPIRY DATE:

            	
              3rd
                February 2018

               

            
	
              RENT:

            	
              For
                the first two years of the term £100,170 per annum plus VAT and thereafter
                subject to review

               

            
	
              RENT
                REVIEW DATES:

            	
              The second and the fifth anniversaries of the
                Term
                Commencement Date in the years 2010 and 2013.

               

            
	
              PERMITTED
                USE:

            	
              Storage, distribution and ancillary offices or
                any use
                within Classes B1(c), B2 and B8 of the Schedule to the Town and Country
                Planning (Use Classes) Order 1987 as originally enacted

               

            
	
              LANDLORD'S/TENANT'S
                OPTION TO BREAK:

            	
              No

               

            
	
              LANDLORD
                AND TENANT ACT 1954:

            	Not
              excluded

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	INTEREST
              ON LATE PAYMENTS:	
              4% above base rate of National Westminster Bank
                plc

               

            
	
              NTEREST
                ON SHORTFALL OF RENT REVIEW:

            	
              The
                base rate of National Westminster Bank
                plc

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    LAND
      REGISTRY

    LAND
      REGISTRATION ACTS 2002

     

    
      	LESSOR’S TITLE
              NUMBER:	GM946142
	PROPERTY LEASED:	Unit A, Site 1, Horsfield Way, Bredbury,
              Stockport as more particularly described in Schedule 1
	PREMIUM:	None
	YEARLY RENT:	Years 1-2: £100,170 plus VAT and subject
              thereafter to review 
	DATE:	8th day of February
              2008

    

     

    THIS
      LEASE is
      made
BETWEEN:-

     

    
      	
              (1)

            	
              BREDBURY
                LIMITED
                (a
                company incorporated in Jersey with registration number 83754) whose
                registered office is at First Island House, Peter Street, St. Helier,
                Jersey, Channel Islands and having an address for service in the
                UK c/o
                Leach & Co, 30 St. George Street, London W1S 2FH (ref. AKJ/L76-9)
                ("the
                Landlord")
                and

            

    

     

    
      	
              (2)

            	
              WLG
                (UK) LIMITED
                (a
                company incorporated in England with registration number 05663215)
                whose
                registered office is at Unit A3, Greeba Road, Roundthorn Industrial
                Estate, Wythenshawe, Manchester, M23 9RA ("the
                Tenant")

            

    

     

    
      	
              (3)

            	
              WLG
                INC
                (a
                company incorporated in Delaware with registration number 3734306)
                whose
                registered office is at 920 East Algonquin Road, Suite 120 Schaumberg,
                IL
                60173, USA and having an address for service in the UK at c/o Unit
                A3,
                Greeba Road, Roundthorn Industrial Estate, Wythenshawe, Manchester,
                M23
                9RA (“the
                Guarantor”)

            

    

     

    WITNESSES
      as
      follows:

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    
      	1  	
              DEFINITIONS

            

    

     

    In
      this
      lease the following expressions have the respective specified meanings (unless
      otherwise required by clause 2):

     

    
      	
              "Development"
                

            	
              has
                the meaning given by Planning Law

               

            
	
              "Enactment"
                

            	
              means
                every Act of Parliament directive and regulation and all subordinate
                legislation which at any relevant time during the Term has legal
                effect in
                England and Wales

               

            
	
              "Group
                Company"

            	
              means
                any company which is either the holding company of the Tenant or
                a
                wholly-owned subsidiary of the Tenant or of the Tenant's holding
                company
                as those expressions are defined in section 736 Companies Act
                1985

               

            
	
              “Headlease”

            	
              means
                the lease details of which are set out in Schedule 5 or such other
                lease
                or leases as shall be the reversion immediately expectant upon the
                Term
                hereby demised

               

            
	
              "Insurance
                Cost"

            	
              means
                the annual sum of all the money which the Landlord properly and reasonably
                expends on:

               

            
	 	
              (a) effecting
                and maintaining insurance against the Insured Risks in relation to
                the
                Premises for whatever amount the Landlord reasonably considers represents
                the full replacement cost with such allowance as the Landlord reasonably
                considers appropriate for related liabilities and expenses (including
                without limitation liability to pay proper fees or charges on the
                submission of an application for planning permission and costs which
                might
                be incurred in complying with any Enactment in carrying out any
                replacement works and sums for proper professional fees and incidental
                expenses which might be incurred on any debris removal and replacement
                and
                all VAT)

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (b) effecting
                and maintaining any insurance relating to the Landlord's property
                owners'
                liability in relation to the Premises and anything done in it
                and

               

            
	 	
              (c) reasonable
                and proper professional fees relating to insurance including fees
                for
                insurance valuations carried out at reasonable intervals PROVIDED
                THAT any
                such valuations shall not be carried out more than once in every
                year
                unless specifically required by the Landlord’s insurers

               

            
	
              "Insurance
                Rent"

            	
              means
                for any Insurance Cost period all of:

               

            
	 	
              (a) the
                Insurance Cost for the relevant period

               

            
	 	
              (b) the
                amount which the Landlord properly expends on effecting and maintaining
                insurance against not less than three years loss of the rents first
                reserved by this lease having regard to increases of rent pursuant
                to
                Schedule 4 and with any addition to the amount insured as the Landlord
                may
                reasonably decide in respect of VAT 

               

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (c) (without
                prejudice to all other provisions of this lease relating to the use
                of the
                Premises and the vitiation of any policy of insurance) any amount
                which
                the Landlord properly expends on all additional premiums and loadings
                on
                any policy of insurance required as a result of anything done or
                omitted
                by the Tenant and

               

            
	 	
              (d) an
                amount equal to the total of all excess sums which the insurers are
                not
                liable to pay out on any insurance claim (where such excesses are
                generally or widely imposed in the insurance market for properties
                such as
                the Premises) in respect of the Premises and which the Landlord may
                have
                paid in replacing the damaged or destroyed parts of the
                Premises

               

            
	
              "Insured
                Risks"

            	
              means
                loss damage or destruction whether total or partial caused by:-
                

               

            
	 	
              (a) fire
                lightning explosion riot civil commotion strikes labour and political
                disturbances and malicious damage aircraft and aerial devices (other
                than
                hostile aircraft and devices) and articles accidentally dropped from
                them
                storm tempest flood bursting or overflowing of water tanks and pipes
                impact earthquake and accidental damage to underground water oil
                and gas
                pipes or electricity wires and cables subsidence ground slip and
                heave
                breakdown and sudden and unforeseen damage to engineering plant and
                equipment damage caused to the Premises by theft; and

               

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (b) such
                other risks or perils against which the Landlord acting reasonably
                may
                insure; and

               

            
	 	
              (c) (subject
                always to such risk being available in the relevant insurance market)
                terrorism

               

            
	 	
              in
                all cases subject to such exclusions and limitations as are generally
                or
                widely imposed by the insurers in the insurance market for properties
                such
                as the Premises

               

            
	
              "Permitted
                Use"

            	
              Storage,
                distribution and ancillary offices or for any other purposes within
                Classes B1(c), B2 and B8 of the schedule to the Town and Country
                Planning
                (Use Classes) Order 1987 

               

            
	
              "Planning
                Law"

            	
              means
                every Enactment and to the extent they relate to the Premises every
                planning permission statutory consent and agreement made pursuant
                to any
                Enactment for the time being in force relating to the use development
                and
                occupation of the land and buildings

               

            
	
              "Plan"

            	
              means
                the plan annexed to this lease 

               

            
	
              "Premises"

            	
              means
                the premises described in schedule 1

               

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              "Public
                Authority"

            	
              means
                any government department public local regulatory fire and any other
                authority any institution having functions which extend to the Premises
                or
                their use or occupation any court of law any company or authority
                responsible for the supply of utilities and any of their duly authorised
                officers

               

            
	
              "Rent
                Commencement Date"

            	
              means
                4th
                February 2008

               

            
	
              “Road”

            	
              means
                the roadway shown coloured pink on the Plan

               

            
	
              "Service
                Media"

            	
              means
                pipes, wires, cables, sewers, drains, watercourses, trunking, ducts,
                flues, gutters, gullies, channels, conduits and other media

               

            
	
              "Stipulated
                Rate"

            	
              means
                a yearly rate of interest calculated on a daily basis four per cent
                above
                the base rate of National Westminster Bank plc or of such other bank
                (being generally recognised as a clearing bank in the London money
                market)
                as the Landlord may nominate at any time

               

            
	
              "Term"

            	
              means
                10 years calculated from 4th
                February 2008

               

            
	
              "VAT"

            	
              means
                Value Added Tax as referred to in the Value Added Tax Act 1994 (or
                any tax
                of a similar nature which may be substituted for or levied in addition
                to
                it)

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	2  	
              INTERPRETATION

            

    

     

    In
      this
      lease:

     

    
      	2.1  	
              The
                singular includes the plural and vice versa and one gender includes
                both
                genders

            

    

     

    
      	2.2  	
              Where
                a party comprises more than one person obligations of that party
                take
                effect as joint and several
                obligations

            

    

     

    
      	2.3  	
              An
                obligation by the Landlord or the Tenant not to do (or omit) any
                act or
                thing also operates as an obligation to use reasonable endeavours
                not to
                permit or suffer it to be done (or omitted) and to prevent (or as
                the case
                may be) to require it being done

            

    

     

    
      	2.4  	
              References
                to:

            

    

     

    
      	(a)  	
              any
                clause or schedule are references to the relevant clause or schedule
                of
                this lease and any reference to a clause or paragraph is a reference
                to
                that clause or paragraph of the clause or schedule in which the reference
                appears and headings shall not affect the construction of this
                lease

            

    

     

    
      	(b)  	
              any
                right of (or obligation to permit) the Landlord to enter the Premises
                shall also be construed (subject to clause 4.10) as entitling the
                Landlord
                to remain on the Premises so far as is necessary with or without
                equipment
                and permitting such right to be exercised by all persons authorised
                by the
                Landlord

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	(c)  	
              any
                consent or approval of the Landlord or words to similar effect mean
                a
                consent in writing signed by or on behalf of the Landlord and where
                necessary the consent of the superior landlord pursuant to the Headlease
                and given before the act requiring consent or approval and any such
                reference which states that consent or approval will not be unreasonably
                withheld by the Landlord also means that it will not be unreasonably
                delayed by the Landlord

            

    

     

    
      	(d)  	
              the
                Premises (except in the definition of Premises and in clause 4.16)
                extend
                where the context permits to any part of the
                Premises

            

    

     

    
      	(e)  	
              a
                specific Enactment includes every statutory modification consolidation
                and
                re-enactment and statutory extension of it for the time being in
                force
                except in relation to the Town and Country Planning (Use Classes)
                Order
                1987 which shall be interpreted exclusively by reference to the original
                provisions of Statutory Instrument 1987 No 764 whether or not it
                may have
                been revoked or modified

            

    

     

    
      	(f)  	
              the
                last year of the Term includes the final year of the Term if this
                lease
                determines otherwise than by passing of time and references to the
                expiry
                of the Term include that type of
                determination

            

    

     

    
      	(g)  	
              rents
                or other sums being due from the Tenant to the Landlord mean that
                they are
                exclusive of any VAT and

            

    

     

    
      	(h)  	
              the
                Tenant’s obligations means the Tenant’s obligations under this lease and
                under every agreement which is supplemental or collateral to this
                lease

            

    

     

    
      	2.5  	
              The
                information contained in the “Lease
                Particulars”
                shall not affect the construction of this lease and has been included
                for
                convenience only

            

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      	3  	
              DEMISE
                AND RENTS

            

    

     

    
      	3.1  	
              The
                Landlord at the request of the Guarantor demises to the Tenant with
                full
                title guarantee except and reserved to the Landlord and other persons
                authorised by it at any time during the Term or otherwise entitled
                to
                exercise them the rights specified in schedule 2 to hold the Premises
                to
                the Tenant for the Term subject
                to the rights obligations and other matters affecting the Premises
                as
                referred to in the documents described in schedule 5

            

    

     

    
      	3.2  	
              The
                Tenant paying to the Landlord:

            

    

     

    
      	3.2.1  	
              yearly
                and proportionately for any part of a year the rent specified in
                schedule
                3 by equal quarterly payments in advance by standing order if the
                Landlord
                so requires on the usual quarter days in every year the first such
                payment
                or a proportionate part of it (being a proportionate part of the
                rent
                specified in paragraph 2 of schedule 3 from the Rent Commencement
                Date to
                the next quarter day thereafter) to be made on the date of this
                lease

            

    

     

    
      	3.2.2  	
              as
                additional rent payable within 14 days of written demand the Insurance
                Rent

            

    

     

    
      	3.2.3  	
              as
                additional rent payable on demand interest at the Stipulated Rate
                on any
                sum owed by the Tenant to the Landlord pursuant to the Tenant's
                obligations whether or not as rent which is not received by the Landlord
                within 14 days of the due date (or in the case of money due only
                on demand
                within 14 days after the date of demand) calculated for the period
                commencing on the due payment date and ending on the date the sum
                (and the
                interest) is received by the Landlord
                and

            

    

     

    
      	3.2.4  	
              as
                additional rent all VAT for which the Landlord is or may become liable
                on
                the supply by the Landlord to the Tenant under or in connection with
                this
                lease or the interest created by it and of any other supplies whether
                of
                goods or services such rent to be paid at the same time as the other
                rents
                or sums to which it relates subject to the prior delivery of a valid
                VAT
                invoice properly addressed to the
                Tenant

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	4  	
              TENANT'S
                OBLIGATIONS

            

    

     

    The
      Tenant agrees with the Landlord:

     

    
      	4.1  	
              Headlease

            

    

     

    To
      observe and comply with the covenants and obligations in the Headlease insofar
      as they relate to this Lease other than the payment of rent
      (or
      other obligations that specifically remain the responsibility of the Landlord
      as
      lessee under the Headlease)

     

    
      	4.2  	
              Rent

            

    

     

    To
      pay
      the rents reserved by this lease on the days and in the manner set out in clause
      3 without deduction or set off (except as required at law) and (unless the
      Landlord agrees otherwise) to pay the rent first reserved (together with any
      VAT
      on it) by banker's standing order to such current bank account in Jersey The
      Channel Islands as the Landlord may nominate at any time

     

    
      	4.3  	
              VAT

            

    

     

    If
      the
      Tenant is required to pay any amount to the Landlord under this lease by way
      of
      reimbursement or indemnity also to pay the Landlord an amount equal to any
      VAT
      incurred by the Landlord on the amount being reimbursed or indemnified (subject
      to the Landlord issuing a VAT invoice) except to the extent the Landlord obtains
      credit for such VAT pursuant to sections 24 25 and 26 Value Added Tax Act 1994
      or any regulations made under them

     

    
      	4.4  	
              Outgoings

            

    

     

    
      	4.4.1  	
              To
                pay all rates and other outgoings assessed on the Premises or on
                their
                owner or occupier during the Term excluding without prejudice to
                clause
                4.2 any tax payable by the Landlord as a direct result of any actual
                or
                implied dealing with the reversion of this lease or of the Landlord's
                receipt of income

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	4.4.2  	
              To
                pay all charges for water gas and electricity (including meter rents)
                consumed in the Premises during the
                Term

            

    

     

    
      	4.5  	
              Compliance
                with Enactments

            

    

     

    To
      comply
      with all Enactments and with the requirements of every Public Authority
      affecting the Premises their use occupation employment of people in them and
      any
      work being carried out to them (whether the requirements are imposed upon the
      owner lessee or occupier) and not to do or omit anything by which the Landlord
      may incur any liability under any Enactment or requirement of a Public
      Authority

     

    
      	4.6  	
              Official
                communications

            

    

     

    As
      soon
      as practicable to supply the Landlord with a certified copy of any official
      communication received from or proposal made by any Public Authority and to
      comply fully with its provisions at the Tenant's cost except that (if requested
      by and at the cost of the Landlord) the Tenant shall make such reasonable
      representations as the Landlord may require against any communication or
      proposal so long as the representations do not conflict with the Tenant's rights
      under this lease

     

    
      	4.7  	
              Repair

            

    

     

    Well
      and
      substantially to repair the Premises and maintain and keep them in good and
      substantial repair and condition (damage by any of the Insured Risks excepted
      to
      the extent that the Landlord is obliged under this lease to insure against
      them
      and to the extent that the insurance money is not rendered irrecoverable or
      insufficient because of some act or default of the Tenant or of any person
      deriving title from it or their respective servants or agents) but subject
      to
      the provisions of Schedule 6

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      	4.8  	
              Decoration
                and general condition

            

    

     

    To
      keep
      the Premises maintained to a good standard of decorative order and properly
      clean at least once in every third year as to the exterior of the Premises
      and
      once in every fifth year as to the interior of the Premises and also in the
      last
      year of the Term to redecorate and treat the Premises with appropriate materials
      in a good and workmanlike manner (and during the last year of the Term in a
      colour scheme and with materials approved by the Landlord not to be unreasonably
      withheld or delayed) but the Tenant shall not be obliged to redecorate or treat
      the Premises if the need to do so is caused by any of the Insured Risks to
      the
      extent that the insurance money is not rendered irrecoverable or insufficient
      because of some act or default of the Tenant or of any person deriving title
      from it or their respective servants or agents but subject to the provisions
      of
      Schedule 6

     

    
      	4.9  	
              Refuse

            

    

     

    Not
      to
      deposit any refuse other than inside the Premises and to ensure the removal
      of
      refuse from the Premises on a regular basis

     

    
      	4.10  	
              Entry
                by the Landlord

            

    

     

    To
      permit
      the Landlord during the normal business hours of the Tenant on not less than
      two
      working days’ prior written notice (except in emergency) and where strictly
      necessary to enter the Premises in order to:

     

    
      	4.10.1  	
              investigate
                whether the Tenant has complied with its
                obligations

            

    

     

    
      	4.10.2  	
              take
                any measurement or valuation of the
                Premises

            

    

     

    
      	4.10.3  	
              affix
                and retain on the Premises without interference but in a position
                which
                does not materially affect their amenity a notice for their re-letting
                or
                disposal (such notice to specify that the business of the Tenant
                shall be
                unaffected by any such disposal) and during the last six months of
                the
                Term to allow the Landlord to show the Premises to prospective purchasers
                or tenants and their agents 

            

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    
      	4.10.4  	
              to
                exercise the rights described in schedule
                2

            

    

     

    PROVIDED
      THAT the Landlord shall cause as little interference as is reasonably possible
      with the Tenant's use of the Premises for its business (except where it is
      necessary to do so in order to comply with any obligations to the Tenant) and
      if
      the Landlord exercises any of the rights by carrying out works on the Premises
      it shall straight away make good any damage caused to them and to any of the
      Tenant's fixtures fittings goods plant and machinery unless the right has been
      exercised because of some breach of the Tenant's obligations and subject to
      any
      reasonable regulations the Tenant may make and are notified to the Landlord
      in
      writing

     

    
      	4.11  	
              Remedying
                breaches

            

    

     

    
      	4.11.1  	
              To
                comply with any notice requiring the Tenant to remedy any breach
                of its
                obligations under clauses 4.7 and 4.8 of this
                Lease

            

    

     

    
      	4.11.2  	
              If
                the Tenant does not commence to comply with any such notice within
                two
                months of receipt of notice of the breach and thereafter diligently
                proceed with such compliance to permit the Landlord to enter the
                Premises
                to remedy the breach as the Tenant's
                agent

            

    

     

    
      	4.11.3  	
              To
                pay to the Landlord as a debt and on demand all the costs and expenses
                properly incurred by the Landlord in exercising its rights under
                this
                clause

            

    

     

    
      	4.12  	
              Preserving
                rights

            

    

     

    
      	4.12.1  	
              To
                preserve all rights of light and other easements belonging to the
                Premises
                and not to give any acknowledgement that they are enjoyed by consent
                PROVIDED THAT the Tenant shall not be prevented from installing security
                bars or displaying temporary trade posters over the windows of the
                Premises (in the latter case which comply with clause
                4.15)

            

    

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    
      	4.12.2  	
              Not
                to do or omit anything which might subject the Premises to any new
                easement and to notify the Landlord without any delay of any encroachment
                which might have that effect

            

    

     

    
      	4.13  	
              Alterations
                and reinstatement

            

    

     

    
      	4.13.1  	
              Not
                to carry out any alterations or works which adversely affect the
                structural integrity of the Premises and not to commit any waste
                

            

    

     

    
      	4.13.2  	
              Subject
                to the other provisions of this clause not to make any alteration
                or
                addition to the Premises without the Landlord's consent which shall
                not be
                unreasonably withheld but the installation and removal of demountable
                partitioning and minor electrical and plumbing works shall not require
                the
                Landlord's consent

            

    

     

    
      	4.13.3  	
              To
                provide the Landlord without any delay on making any alteration or
                addition to the Premises for which the Landlord has insurance obligations
                with a written independent current insurance (VAT inclusive) valuation
                of
                the works for replacement purposes

            

    

     

    
      	4.13.4  	
              At
                the expiry of the Term if and to the extent reasonably required by
                the
                Landlord by written notice served not later than three months before
                the
                expiry of the Term to remove all alterations and additions made to
                the
                Premises and anything which may have been installed under clause
                4.13 at
                any time by the Tenant or by any person deriving title from it and
                to
                restore and make good the Premises in a proper and workmanlike manner
                to
                the condition and design which existed before the relevant work was
                carried out to the Landlord's reasonable
                satisfaction

            

    

     

    
      	4.14  	
              Use

            

    

     

    Not
      to
      use the Premises:

     

    
      	4.14.1  	
              for
                any purpose which causes a nuisance to any person or
                property

            

    

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    
      	4.14.2  	
              for
                any public auction or public meeting or for any noxious noisy or
                immoral
                activity or for residential purposes
                or

            

    

     

    
      	4.14.3  	
              (without
                prejudice to the preceding paragraphs of this clause) except for
                the
                Permitted Use

            

    

     

    
      	4.15  	
              Signs
                aerials etc

            

    

     

    
      	4.15.1  	
              Not
                to erect any pole antenna or other apparatus on the outside of the
                Premises save for the purpose of the Tenant’s own business communications
                and the erection of one totem or flagpole for displaying a sign or
                banner
                in accordance with the Tenant’s corporate image subject to clause
                4.15.3

            

    

     

    
      	4.15.2  	
              Not
                to display any type of sign or advertisement so as to be visible
                from
                outside the Premises 

            

    

     

    
      	4.15.3  	
              Notwithstanding
                the foregoing the Tenant shall be
                entitled:-

            

    

     

    (a) without
      the necessity to obtain the Landlord’s consent to exhibit temporary trade signs
      and promotional posters on the inside of the windows of the Premises or signs
      which the Tenant is obliged by statutory provision to display; and

     

    (b) subject
      to the prior written consent of the Landlord (which shall not be unreasonably
      withheld or delayed) to exhibit its usual trading name or sign in conformity
      with the Tenant’s national or corporate identity from time to time on a location
      (previously approved by the Landlord) on the exterior of the
      Premises

     

    
      	4.16  	
              Dealings
                with the lease

            

    

     

    
      	4.16.1  	
              In
                clause 4.16 any reference to a transfer includes an assignment
                

            

    

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    
      	4.16.2  	
              Not
                to transfer mortgage charge hold on trust for another underlet or
                otherwise part with possession of part only (as opposed to the whole)
                of
                the Premises nor agree to do so 

            

    

     

    
      	4.16.3  	
              Not
                to transfer hold on trust for another underlet or otherwise part
                with
                possession of the whole of the Premises or to agree to do so except
                that
                the Tenant may transfer or underlet the whole of the Premises if
                before
                the transfer or underletting is completed the Tenant complies with
                the
                conditions described in clause 4.16.4 or clause 4.16.5 as
                applicable

            

    

     

    (Assignment)

     

    
      	4.16.4  	
              The
                conditions (which are specified for the purposes of section 19(1A)
                of the
                Landlord and Tenant Act 1927 and which operate without prejudice
                to the
                Landlord's right to withhold consent on any reasonable ground) applying
                to
                a transfer of the whole of the Premises
                are:

            

    

     

    
      	(a)  	
              that
                the Tenant enters into an authorised guarantee agreement as defined
                in
                section 16 of the Landlord and Tenant (Covenants) Act 1995 with the
                Landlord in a form which the Landlord reasonably requires
                and

            

    

     

    
      	(b)  	
              if
                it is reasonable in the circumstances that any guarantor of the Tenant's
                obligations guarantees to the Landlord that the Tenant will comply
                with
                the authorised guarantee agreement in a form which the Landlord reasonably
                requires Provided Always that the obligations of the Guarantor (here
                meaning WLG INC) under this clause are limited to a sum no greater
                than
                three times the Rent payable at the date the authorised guarantee
                agreement is enforced by the Landlord
                and

            

    

     

    
      	(c)  	
              that
                subject as provided in clause 4.16.4(d) and if the Landlord so reasonably
                requires the proposed assignee procures the
                following:

            

    

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    
      	(i)  	
              (that
                if the proposed assignee is a limited company) an additional guarantor
                or
                guarantors (but not more than two) approved by the Landlord (who
                shall act
                reasonably in giving its approval) in the terms contained in schedule
                4;

            

    

     

    
      	(ii)  	
              a
                deposit with the Landlord of an amount in cleared funds equal to
                half of
                the then current yearly rent first reserved by this lease and an
                amount
                equal to VAT on that amount on terms which the Landlord reasonably
                requires 

            

    

     

    
      	(d)  	
              if
                the proposed transfer is to a Group Company
                and

            

    

     

    
      	(i)  	
              if
                the Tenant's obligations or any of them are guaranteed by another
                Group
                Company that such Group Company covenants with the Landlord in the
                terms
                contained in schedule 4 or

            

    

     

    
      	(ii)  	
              whether
                or not clause 4.16.4(a)(i) applies if the Tenant's obligations or
                any of
                them are secured by a security deposit the proposed transferee procures
                a
                deposit with the Landlord of the amount and on terms described in
                clause
                4.16.4(c)(ii) and

            

    

     

    
      	(iii)  	
              that
                the Landlord’s consent which will not be unreasonably withheld is obtained
                to and within three months before the
                transfer

            

    

     

    (Underletting)

     

    
      	4.16.5  	
              Not
                to underlet the whole of the Premises without the consent of the
                Landlord
                (which consent shall not be unreasonably withheld)
                except:

            

    

     

    
      	(a)  	
              to
                a person who has covenanted with the
                Landlord:

            

    

     

    
      	(i)  	
              to
                observe the Tenant's obligations in the Lease (other than the payment
                of
                rents) 

            

    

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

    
      	(ii)  	
              not
                to transfer the Premises without the Landlord's consent (which shall
                not
                be unreasonably withheld if the conditions which are referred to
                in clause
                4.16.4 are first satisfied) and

            

    

     

    
      	(iii)  	
              not
                to transfer or underlet part of the Premises or otherwise part with
                possession or share the occupation of the Premises or any part of
                them

            

    

     

    
      	(b)  	
              by
                reserving as a yearly rent without payment of a fine or premium an
                amount
                equal to the then open market rack rental value of the Premises and
                to be
                payable by equal quarterly instalments in advance on the usual quarter
                days and by reserving as additional rents amounts equal to and payable
                at
                the same times as the other rents reserved by this
                lease

            

    

     

    
      	(c)  	
              by
                a form of underlease (which does not express any sum to be payable
                by
                reference to a percentage or proportion of the rent or any other
                sum
                payable under this lease but which requires it to be payable and
                assessed
                in accordance with the same principles as are required by this lease)
                to
                be approved by the Landlord such approval not to be unreasonably
                withheld

            

    

     

    
      	(d)  	
              by
                a form of underlease which
                requires:

            

    

     

    
      	(i)  	
              the
                principal rent reserved by it to be reviewed upwards only at the
                Review
                Dates which will occur during the sub-term in accordance with the
                same
                principles which apply to rent review under this
                lease

            

    

     

    
      	(ii)  	
              the
                underlessee to observe the Tenant's obligations (other than the obligation
                to pay rents) under this lease and
                containing:

            

    

     

    
      	 	
              1

            	
              a
                condition for re-entry by the underlessor on breach of any obligation
                by
                the underlessee

            

    

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

    
      	 	
              2

            	
              a
                qualified covenant not to transfer the whole of the Premises (subject
                to
                prior compliance with conditions as set out in clause 4.16.4) and
                an
                unqualified covenant not to transfer part of the Premises or to underlet
                or otherwise part with possession or share the occupation of the
                Premises
                or any part of them

            

    

     

    
      	 	
              3

            	
              an
                agreement excluding sections 24 to 28 inclusive of the Landlord and
                Tenant
                Act 1954 in relation to the underlease
                and

            

    

     

    
      	(e)  	
              with
                the Landlord's consent issued within three months before completion
                of the
                underletting which consent (subject to compliance with the foregoing
                conditions precedent) shall not be unreasonably
                withheld

            

    

     

    
      	4.16.6  	
              To
                use reasonable endeavours to enforce the observance by every underlessee
                of the provisions of the underlease and not expressly or impliedly
                to
                waive any breach of them nor (without the prior approval of the Landlord
                such approval not to be unreasonably withheld by reference to the
                terms of
                this Lease) to vary the terms of any underlease

            

    

     

    
      	4.16.7  	
              Not
                to rely upon or use in evidence on any review of rent under this
                lease any
                reviewed rent payable under an underlease unless the Landlord acting
                reasonably has previously
                approved:-

            

    

     

    (a) the
      reviewed rent payable under such underlease; or

     

    (b) if
      the
      rent review is to be determined by an independent person the appointment of
      such
      person

     

    PROVIDED
      THAT the Tenant shall procure that in any determination by such independent
      person any reasonable and proper representations which the Landlord may wish
      to
      make in relation to the rent review are duly submitted to the independent person
      and to provide the Landlord promptly when the same are available with copies
      of
      any representations made on the Tenant's or the underlessee's behalf in relation
      to the rent review 

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    (Sharing
      occupation)

     

    
      	4.16.8  	
              Not
                to part with or share the occupation of the Premises or any part
                of them
                except that the Tenant may share occupation with or part with possession
                to a company which is but only for so long as it remains a Group
                Company
                provided the Tenant does not grant the company sharing occupation
                exclusive possession nor create any relationship of landlord and
                tenant
                nor otherwise transfer or create a legal estate and the Tenant shall
                notify the Landlord of the identity of each company in
                occupation

            

    

     

    
      	4.17  	
              Notifying
                Landlord of dealings with the
                lease

            

    

     

    
      	4.17.1  	
              Within
                one month after any disposition or devolution of this lease or of
                any
                estate or interest in or derived out of it to give the Landlord notice
                of
                the relevant transaction with a certified copy of the relevant document
                and to pay the Landlord a fair and reasonable fee of not less than
                twenty
                five pounds for registering each
                notice

            

    

     

    
      	4.17.2  	
              To
                notify the Landlord of particulars of the determination of every
                rent
                review under any underlease of the Premises within one month after
                the
                date of determination

            

    

     

    
      	4.18  	
              Payment
                of cost of notices consents
                etc

            

    

     

    To
      pay
      the Landlord within 7 days of written demand all reasonable and proper expenses
      (including bailiffs' and consultants' fees) incurred by it in connection
      with:

     

    
      	4.18.1  	
              the
                preparation and service of a notice under section 146 Law of Property
                Act
                1925 or in proper contemplation of any proceedings under section
                146 or
                147 of that Act notwithstanding that forfeiture is avoided otherwise
                than
                by relief granted by the court

            

    

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

     

    
      	4.18.2  	
              every
                step taken during or within three months after the expiry of the
                Term in
                connection with the enforcement of the Tenant's obligations including
                the
                service or proposed service of all notices and schedules of dilapidations
                served within 3 months of the expiry of the Term and reasonable
                consultants' fees incurred in monitoring any action taken to remedy
                any
                breach of the Tenant's obligations PROVIDED THAT schedules of
                dilapidations shall be served no more frequently than once every
                three
                years during the Term and

            

    

     

    
      	4.18.3  	
              every
                application for consent or approval under this lease even if the
                application is withdrawn or properly refused except where consent
                is
                unreasonably withheld or delayed

            

    

     

    
      	4.19  	
              Installing
                machinery in the Premises

            

    

     

    
      	4.19.1  	
              No
                plant or machinery shall be installed or operated in the Premises
                and
                nothing shall be done or omitted in them which may cause any nuisance
                to
                nearby property or persons outside the Premises (subject always to
                the
                proviso at clause 4.14)

            

    

     

    
      	4.20  	
              Obstruction/overloading

            

    

     

    
      	4.20.1  	
              Not
                to obstruct:

            

    

     

    
      	(a)  	
              access
                to nearby property nor exercise any of the rights granted by this
                lease in
                a way which causes a nuisance 

            

    

     

    
      	(b)  	
              any
                means of escape

            

    

     

    
      	(c)  	
              or
                discharge any deleterious matter into

            

    

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

     

    
      	(i)  	
              any
                conduit serving the Premises and to the extent they lie within the
                Premises to keep them clear and functioning properly or
                

            

    

     

    
      	(ii)  	
              any
                Service Media

            

    

     

    
      	4.20.2  	
              or
                stop up or obscure any openings of the Premises

            

    

     

    
      	4.20.3  	
              any
                notice erected on the Premises including any erected by the Landlord
                in
                accordance with its powers under this
                lease

            

    

     

    nor
      to
      overload or cause undue strain to the Premises or the Service Media

     

    
      	4.21  	
              Complying
                with Planning Law and
                compensation

            

    

     

    
      	4.21.1  	
              Not
                without the Landlord's consent (such consent not to be unreasonably
                withheld or delayed) to apply for planning permission relating to
                the
                Premises PROVIDED THAT no such consent shall be required where consent
                has
                already been given (or is not actually required) for the subject
                matter of
                such application under other provisions of this
                Lease

            

    

     

    
      	4.21.2  	
              Not
                to implement any planning permission before the Landlord acting reasonably
                and expeditiously has acknowledged that its terms are acceptable
                and

            

    

     

    
      	4.21.3  	
              Unless
                the Landlord directs otherwise to complete before the expiry of the
                Term
                all works on the Premises required as a condition of any planning
                permission implemented by the Tenant or by any person claiming under
                or
                through it 

            

    

     

    
      	4.22  	
              Indemnifying
                the Landlord

            

    

     

    To
      indemnify the Landlord against all consequences of any breach of any of the
      Tenant's obligations under this lease (including all costs reasonably incurred
      by the Landlord in an attempt to mitigate any such breach)

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

     

    
      	4.23  	
              Notifying
                defects in the Premises

            

    

     

    
      	4.23.1  	
              To
                notify the Landlord as soon as reasonably practicable about any defect
                in
                the Premises which becomes known to the Tenant and which might give
                rise
                to:

            

    

     

    
      	(a)  	
              an
                obligation on the Landlord to do or refrain from doing anything in
                relation to the Premises or

            

    

     

    
      	(b)  	
              any
                duty of care or the need to discharge such duty imposed by the Defective
                Premises Act 1972

            

    

     

    and
      always to display such notices as the Landlord may at any time reasonably
      require to be displayed at the Premises relating to their state of repair and
      condition pursuant to any relevant Enactment

     

    
      	4.24  	
              Insurance
                and fire fighting
                equipment

            

    

     

    
      	4.24.1  	
              Not
                to do or omit anything by which any insurance policy (particulars
                of which
                shall have been provided to the Tenant) relating to the Premises
                or any
                part thereof becomes void or voidable or by which the rate of premium
                on
                such policy may be increased (unless the Tenant agrees to bear the
                whole
                of such increase)

            

    

     

    
      	4.24.2  	
              To
                comply with all requirements of the insurers which the Tenant has
                been
                notified of and to provide and maintain unobstructed appropriate
                operational fire fighting equipment and fire notices on the
                Premises

            

    

     

    
      	4.24.3  	
              To
                notify the Landlord as soon as reasonably practicable of any incidence
                of
                an Insured Risk on the Premises and of any other event which ought
                reasonably to be brought to the insurers'
                attention

            

    

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

     

    
      	4.24.4  	
              If
                the Tenant or any person claiming title from it is entitled to the
                benefit
                of any insurance of the Premises to cause all money paid under such
                insurance to be applied in making good the loss or damage for which
                it was
                paid

            

    

     

    
      	4.24.5  	
              If
                the whole or any part of the Premises are damaged or destroyed by
                any of
                the Insured Risks during the Term and the insurance money under any
                insurance policy effected by the Landlord is rendered wholly or partially
                irrecoverable because of some act or default of the Tenant or any
                person
                deriving title from it or their respective servants or agents to
                pay the
                Landlord within 14 days of demand the whole of the irrecoverable
                insurance
                money

            

    

     

    
      	4.24.6  	
              If
                there is any deficiency in any insurance money received by the Landlord
                in
                respect of the replacement of any damage or destruction referred
                to in
                clause 5.4.3 because the Tenant has failed to comply with its obligations
                under clause 4.13.3 to pay the Landlord the amount of the deficiency
                in
                the insurance money

            

    

     

    
      	4.25  	
              Dangerous
                and contaminative
                materials

            

    

     

    Not
      to
      keep produce or use any noise noxious or hazardous material on the Premises
      nor
      cause any environmental damage and if there is any breach of that obligation
      to
      remove all trace of the material from the affected land and to leave it in
      a
      clean and safe condition 

     

    
      	4.26  	
              Returning
                the Premises to the
                Landlord

            

    

     

    At
      the
      expiry of the Term to return all keys of the Premises to the Landlord and to
      remove all chattels and (to the extent the Landlord may reasonably require)
      tenant's fixtures and to vacate the Premises reinstated and restored and made
      good in accordance with clause 4.13.5 and in the state of repair and condition
      otherwise required by this lease and any licences or consents issued pursuant
      to
      it under which the Tenant was permitted to carry out alterations to the Premises
      subject to a liability to reinstate

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

     

    
      	4.27  	
              Matters
                affecting the Premises

            

    

     

    To
      comply
      with all covenants and other matters affecting the Premises as disclosed by
      the
      Land Registry title of the Estate as set out in schedule 5 in so far as the
      same
      affect the Premises and are still subsisting (save for any charges of a
      financial nature)

     

    
      	4.28  	
              Electricity
                sub-station 

            

    

     

    
      	 	
              To
                maintain to the satisfaction of the Landlord 1.8 metre high steel
                palisade
                fencing (with a gateway therein) on the boundaries of the electricity
                sub-station site and if such maintenance is carried out by the Landlord
                or
                others authorised by it in default on the part of the Tenant then
                the
                Tenant will reimburse the Landlord on demand with the costs of such
                maintenance

            

    

     

     

    
      	5  	
              LANDLORD'S
                OBLIGATIONS

            

    

     

    The
      Landlord agrees with the Tenant:

     

    
      	5.1  	
              Quiet
                enjoyment

            

    

     

    That
      if
      the Tenant observes and performs its obligations the Tenant may lawfully and
      peaceably hold and enjoy the Premises without any lawful interruption by the
      Landlord or any person rightfully claiming through under or in trust for it
      by
      title paramount

     

    
      	5.2  	
              Headlease

            

    

     

    The
      Landlord shall:-

     

    
      	5.2.1  	
              pay
                the rent reserved by the Headlease as and when it falls due and shall
                observe and perform the lessee’s covenants in the Headlease (except in so
                far as the Tenant covenants to do so under this lease) 

            

    

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

     

    
      	5.2.2  	
              at
                the request properly made and at the cost of the Tenant use all reasonable
                endeavours to enforce the covenants on the part of the superior landlord
                contained in the Headlease relating to quiet enjoyment and/or to
                the
                extent such enforcement can properly be required by the Tenant for
                purposes connected with the rights granted to the Tenant in this
                Lease

            

    

     

    
      	5.2.3  	
              at
                the cost of the Tenant seek and use all reasonable endeavours to
                obtain
                the consent of any superior landlord where it is required under the
                Headlease when the Tenant has applied for consent under this
                Lease

            

    

     

    
      	5.3  	
              Insurance

            

    

     

    
      	5.3.1  	
              To
                keep the Premises (except any demountable partitioning window blinds
                and
                wall or floor surface coverings not installed by or at the cost of
                the
                Landlord and fixtures which are strictly tenant's trade fixtures)
                insured
                against the Insured Risks in a sum which in the Landlord's reasonable
                opinion is their full replacement
                cost

            

    

     

    
      	5.3.2  	
              On
                request to supply the Tenant (but not more frequently than once in
                any
                period of twelve months) with evidence of such insurance and of payment
                of
                the most recent premium

            

    

     

    
      	5.3.3  	
              If
                during the Term the Premises (except as aforesaid) including the
                means of
                access to the Premises are damaged or destroyed by an Insured Risk
                and to
                the extent that payment of the insurance money is not refused because
                of
                any act or default of the Tenant or of any person deriving title
                from the
                Tenant or their respective servants or agents the Landlord will (subject
                to clause 6.6) with all due expedience take the necessary steps to
                obtain
                any requisite planning permissions and consents and if they are obtained
                to lay out the insurance money received (except sums for public liability
                and employer's liability and loss of rent) towards replacing the
                damaged
                or destroyed parts of the Premises as soon as reasonably practicable
                and
                will make up any deficiencies out of its own resources
                but:

            

    

     

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

    

     

    
      	(a)  	
              the
                Landlord's obligation to insure does not extend to any alteration
                or
                addition referred to in clause 4.13.3 in respect of which the Tenant
                has
                failed to comply with that clause

            

    

     

    
      	(b)  	
              the
                Landlord shall not be liable to carry out the replacement if it is
                unable
                having used reasonable endeavours to obtain every permission and
                consent
                necessary to execute the relevant work in which event the Landlord
                shall
                subject to clause 5.3.3(c) be entitled to retain all the insurance
                money
                received by it and

            

    

     

    
      	(c)  	
              if
                the Landlord shall not be liable to carry out the replacement and
                if the
                Tenant has complied with clause 4.13.3 the Landlord shall pay the
                Tenant
                that proportion of any received insurance money which is referable
                to any
                damage or destroyed works of alteration or addition to which clause
                4.13.3
                relates such proportion to be agreed between the Landlord and the
                Tenant
                or if they cannot agree to be determined by a single arbitrator to
                be
                appointed by the President of the Royal Institution of Chartered
                Surveyors
                on the application of either party

            

    

     

    
      	5.3.4  	
              To
                notify the Tenant of any material change to the risks covered by
                the
                policy from time to time

            

    

     

     

    
      	6  	
              OTHER
                AGREEMENTS AND
                DECLARATIONS

            

    

     

    
      	6.1  	
              Forfeiture
                and re-entry

            

    

     

    Without
      prejudice to any other remedies and powers available to the Landlord
      if:

     

    
      	6.1.1  	
              any
                rent is unpaid for 21 days after becoming payable
                or

            

    

     

    
      	6.1.2  	
              there
                is any other breach of the Tenant's obligations
                or

            

    

     

    
      	6.1.3  	
              the
                guarantee by any guarantor of the Tenant's obligations is or becomes
                wholly or partly unenforceable for any reason
                or

            

    

     

    
      
        
        

      

      
        27

        
          

        

      

      
        
        

      

    

     

    
      	6.1.4  	
              if
                the Tenant or the Guarantor of the Tenant's obligations (or if more
                than
                one person any one of them):

            

    

     

    
      	(a)  	
              being
                a company enters into liquidation whether compulsory or voluntary
                (except
                for the purpose of amalgamation or reconstruction) or has a provisional
                liquidator appointed or suffers a receiver or manager to be appointed
                (including an administrative receiver) or becomes subject to an
                administration order or becomes subject to a company voluntary arrangement
                under Part 1 Insolvency Act 1986 or a scheme of arrangement under
                section
                425 Companies Act 1985

            

    

     

    
      	(b)  	
              being
                a company incorporated outside the United Kingdom is the subject
                of any
                proceedings or event analogous to those referred to in this clause
                in the
                country of its incorporation or

            

    

     

    
      	(c)  	
              being
                an individual is the subject of a bankruptcy order or of any order
                or
                appointment under Part VIII Insolvency Act 1986 relating to individual
                voluntary arrangements under section 273 or section 286 Insolvency
                Act
                1986 or otherwise becomes bankrupt or insolvent or dies
                or

            

    

     

    
      	(d)  	
              being
                a company or an individual enters into or makes any proposal to its
                creditors for a composition in satisfaction of its debts or a scheme
                of
                arrangement of its affairs

            

    

     

    the
      Landlord may notwithstanding the waiver of any previous right of re-entry
      re-enter on any part of the Premises and on such re-entry this lease shall
      absolutely determine but without prejudice to any Landlord's right of action
      for
      any prior breach of the Tenant's obligations

     

    
      	6.2  	
              Service
                of notices

            

    

     

    
      	6.2.1  	
              In
                addition to any other method of service any notice which is served
                under
                this lease shall be validly served if it is served in accordance
                with
                section 196 Law of Property Act 1925 as amended by the Recorded Delivery
                Service Act 1962

            

    

     

    
      
        
        

      

      
        28

        
          

        

      

      
        
        

      

    

     

    
      	6.2.2  	
              If
                the Tenant or any guarantor comprises more than one person it shall
                be
                sufficient if notice is served on one of them but a notice duly served
                on
                the Tenant shall not need to be served on any
                guarantor

            

    

     

    
      	6.3  	
              Relief
                from liability to pay rent

            

    

     

    If
      during
      the Term:

     

    
      	6.3.1  	
              the
                Premises (other than the Tenant's plant and equipment and trade fixtures)
                or access to the Premises are damaged or destroyed by any of the
                Insured
                Risks so that the Premises are incapable of occupation and use or
                are no
                longer accessible for the purposes of the business lawfully carried
                on at
                the Premises and

            

    

     

    
      	6.3.2  	
              the
                insurance of the Premises or the payment of any insurance money has
                not
                been vitiated by the act or default of the Tenant or of any person
                deriving title from the Tenant or their respective servants or
                agents

            

    

     

    the
      rent
      first reserved by this lease under clauses 3.2.1 and 3.2.5 or a fair proportion
      of it according to the nature and extent of the damage sustained shall cease
      to
      be payable from the date of destruction or damage until whichever is the earlier
      of the date on which the Premises (other than as aforesaid) are made fit for
      occupation and use or are accessible again for the purposes of the business
      lawfully carried on at the Premises and the date of expiry of the period for
      which insurance of loss of rent is effected (not being less than 3 years) and
      any dispute about such cessation shall be referred to the award of a single
      arbitrator to be appointed in default of agreement on the application of the
      Landlord or the Tenant to the President for the time being of The Royal
      Institution of Chartered Surveyors in accordance with the Arbitration Act
      1996

     

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

    

     

    
      	6.4  	
              Ending
                of the lease following major damage - Insured
                Risks

            

    

     

    
      	6.4.1  	
              If
                the Premises are damaged or destroyed by any of the Insured Risks
                and as a
                result are substantially unfit for occupation and use for the purposes
                of
                the business lawfully carried on at the Premises either the Landlord
                or
                the Tenant may subject to the conditions set out in clause 6.4.2
                determine
                this lease

            

    

     

    
      	6.4.2  	
              The
                conditions referred to in clause 6.6.1
                are:

            

    

     

    
      	(a)  	
              the
                Tenant may not determine this lease
                if:

            

    

     

    
      	(i)  	
              the
                Landlord has within 24 months after the date of damage or destruction
                made
                a substantial start on site of the works to replace the damaged or
                destroyed parts of the Premises and will procure that the same are
                completed within 36 months after the date of damage or destruction
                or
                

            

    

     

    
      	(ii)  	
              payment
                of the insurance money is refused because of any act or default of
                the
                Tenant or of any person deriving title from the Tenant or their respective
                servants or agents or

            

    

     

    
      	(iii)  	
              the
                Tenant owes the Landlord any debt under clauses 4.24.5 or 4.24.6
                and

            

    

     

    
      	(b)  	
              the
                Landlord may not determine this lease if the Landlord has within
                24 months
                after the date of damage or destruction made a substantial start
                on site
                of the works to replace the damaged or destroyed parts of the Premises
                or
                has failed to comply with its obligations contained in clause
                5.3.3(b)

            

    

     

    
      	(c)  	
              subject
                to clause 6.6.2(a) the Tenant may determine this lease only by serving
                the
                Landlord with not less than one month’s prior notice served at any time
                after the expiry of 30 months and before the expiry of 35 months
                from the
                date of damage or destruction and

            

    

     

    
      
        
        

      

      
        30

        
          

        

      

      
        
        

      

    

     

    
      	(d)  	
              the
                Landlord may determine this lease only by serving the Tenant with
                not less
                than one month’s prior notice served at any time after the expiry of 30
                months and before the expiry of 35 months from the date of destruction
                or
                damage

            

    

     

    
      	6.4.3  	
              With
                effect from the service of a notice under clauses 6.6.2(c) or 6.6.2(d)
                the
                Landlord's obligations under clause 5.4.3 shall cease and on the
                expiry of
                the notice this lease shall determine without prejudice to any rights
                or
                remedies which may then have accrued in respect of any breach of
                this
                lease and the Landlord shall be entitled to retain the insurance
                money

            

    

     

    
      	6.4.4  	
              Time
                is of the essence of the periods referred to in this
                clause

            

    

     

    
      	6.5  	
              Arbitration
                fees

            

    

     

    The
      fees
      of any arbitrator incurred in any arbitration proceedings arising out of this
      lease may be paid to the arbitrator by the Landlord or by the Tenant
      notwithstanding any direction or prior agreement as to liability for payment
      and
      if either party chooses to do so it shall be entitled to an appropriate
      repayment by the other party on demand

     

    
      	6.6  	
              Rent
                review memorandum

            

    

     

    As
      soon
      as possible after any increase in rent is agreed or determined pursuant to
      schedule 4 a memorandum recording the increase shall be signed on behalf of
      the
      Landlord and the Tenant respectively and exchanged between them (each party
      to
      bear their own costs in connection with the preparation and exchange of such
      memorandum)

     

    
      	6.7  	
              Compensation

            

    

     

    Except
      where any Enactment prohibits the right to compensation being reduced or
      excluded by agreement neither the Tenant nor any occupier of the Premises shall
      be entitled on quitting them to claim from the Landlord any compensation under
      the Landlord and Tenant Act 1954

     

    
      
        
        

      

      
        31

        
          

        

      

      
        
        

      

    

     

    
      	6.8  	
              Construction
                (Design and Management) Regulations
                2007

            

    

     

    
      	6.8.1  	
              In
                this clause the expression:

            

    

     

    "Regulations"
      means
      the
      Construction (Design and Management) Regulations 2007 and any expressions
      appearing in this clause which are defined in the Regulations have the same
      meaning and

     

    "relevant
      work" means
      any
      construction work which is undertaken by the Tenant or by a person claiming
      under it pursuant to an obligation or a right (whether or not requiring the
      Landlord's consent) under this lease and for the purposes of the Regulations
      the
      Tenant irrevocably acknowledges that it and not the Landlord arranges the design
      carrying out and construction of relevant work

     

    
      	6.8.2  	
              The
                Tenant irrevocably acknowledges that it will be the only client in
                respect
                of any relevant work

            

    

     

    
      	6.8.3  	
              Before
                any relevant work is commenced the Tenant shall make a declaration
                in
                accordance with Regulation 4(4) and shall forthwith serve it on the
                Executive and a copy of it on the
                Landlord

            

    

     

    
      	6.8.4  	
              The
                Tenant shall comply with its obligations as client in respect of
                any
                relevant work

            

    

     

    
      	6.8.5  	
              The
                Tenant shall promptly provide the Landlord with a complete copy of
                the
                health and safety file for all relevant work and (no later than the
                expiry
                of the Term) the original health and safety
                file

            

    

     

    
      	6.8.6  	
              The
                provisions of this clause 6.11 shall apply notwithstanding that any
                consent issued by the Landlord in respect of any relevant work does
                not
                refer to the said provisions or to the
                Regulations

            

    

     

    
      
        
        

      

      
        32

        
          

        

      

      
        
        

      

    

     

    
      	6.9  	
              Jurisdiction

            

    

     

    This
      lease is governed by and construed in accordance with the law of England and
      the
      Tenant submits to the exclusive jurisdiction of the English courts and agrees
      that any process may be served on it by leaving a copy of the relevant document
      at the Premises and each party to this lease undertakes to notify the others
      in
      advance of any change from time to time of such address for service and to
      maintain an appropriate address at all times

     

    
      	6.10  	
              Overriding
                lease

            

    

     

    If
      during
      the Term the Landlord grants a tenancy of the reversion immediately expectant
      on
      the determination of this lease pursuant to Section 19 Landlord and Tenant
      (Covenants) Act 1995 any obligation of the Tenant to obtain the consent of
      the
      Landlord under this lease to any dealing shall be deemed to include a further
      obligation also to obtain the consent of the lessor under such tenancy to such
      a
      dealing PROVIDED THAT the terms of any such overriding lease shall be no more
      materially onerous to the Tenant than the terms of this Lease

     

    
      	6.11  	
              Contamination

            

    

     

    The
      Tenant shall have no liability in respect of contamination or pollution present
      in the soil, the sub-surface or groundwater at or beneath the Premises to the
      extent such contamination or pollution was present at the date of this
      Lease

     

    
      	6.12  	
              Application
                of Landlord and Tenant (Covenants) Act
                1995

            

    

     

    This
      lease is a new tenancy for the purposes of the Landlord and Tenant (Covenants)
      Act 1995

     

    
      
        
        

      

      
        33

        
          

        

      

      
        
        

      

    

     

    
      	7  	
              CONTRACTS
                (RIGHTS OF THIRD PARTIES) ACT
                1999

            

    

     

    Unless
      the right of enforcement is expressly provided it is not intended that a third
      party should have the rights to enforce any term of this lease pursuant to
      the
      Contracts (Rights of Third Parties) Act 1999

     

    
      	8  	
              GUARANTEE
                AND GUARANTOR'S INDEMNITY

            

    

     

    The
      Guarantor at the request of the Tenant and in consideration of the grant of
      this
      Lease agrees with the Landlord that during such period (including any period
      of
      holding over continuation or extension of the Term whether by any Enactment
      common law or otherwise) as this Lease is vested in the Tenant:

     

    
      	8.1  	
              all
                the Tenant's obligations will be performed and that if there is any
                breach
                of those obligations (notwithstanding any time or indulgence allowed
                by
                the Landlord or compromise neglect or forbearance in enforcing the
                Tenant's obligations or any refusal by the Landlord to accept tendered
                rent) the Guarantor will perform the obligations and will on demand
                and
                pay the Landlord an amount equal to the rents or other amounts not
                paid
                and any loss or any other liability suffered by the Landlord as a
                result
                of the breach (and following any non-payment shall pay interest at
                the
                Stipulated Rate from the date of demand to the Guarantor until the
                date of
                payment) and will otherwise indemnify the Landlord against all
                consequences arising from the
                breach

            

    

     

    
      	8.2  	
              if
                any liquidator or other person having power to do so disclaims this
                Lease
                or if it is forfeited or if the Tenant ceases to exist (each a
                "Trigger
                Event")
                and if the Landlord notifies the Guarantor within 3 months from and
                including the date of the Trigger Event that it requires the Guarantor
                to
                accept a lease of the Premises for a term calculated from the date
                of the
                Trigger Event to the date on which the Term would have expired by
                the
                passing of time and at the same rents and subject to the same obligations
                and provisions (except that the Guarantor shall not be required to
                procure
                that any other person is made party to the lease as guarantor) as
                are
                reserved by and contained in this Lease immediately before the Trigger
                Event and with coincidental Review Dates (the said new lease and
                the
                rights and liabilities under it to take effect as from the date of
                the
                Trigger Event) the Guarantor shall immediately accept such lease
                accordingly and execute and deliver to the Landlord a counterpart
                of it
                and indemnify the Landlord upon demand against the costs so
                incurred

            

    

     

    
      
        
        

      

      
        34

        
          

        

      

      
        
        

      

    

     

    
      	8.3  	
              the
                Guarantor's obligations under this clause shall not be affected
                by:

            

    

     

    
      	8.3.1  	
              any
                variation or waiver of the terms of this Lease or any of them agreed
                between the Landlord and the Tenant (provided that the Guarantor’s
                obligations shall not thereby increase)
                or

            

    

     

    
      	8.3.2  	
              any
                partial surrender of this Lease (and the Guarantor's liability shall
                continue but only in respect of the Tenant's continuing obligations)
                or

            

    

     

    
      	8.3.3  	
              any
                legal limitation immunity disability incapacity insolvency or the
                winding-up of the Tenant or

            

    

     

    
      	8.3.4  	
              (without
                limitation to the foregoing) any other act by which but for this
                provision
                the Guarantor would have been discharged or released (whether in
                whole or
                in part) from liability

            

    

     

    or
      any
      combination of any two or more of such matters

     

    
      	8.4  	
              if
                a Trigger Event occurs and for any reason the Landlord does not require
                the Guarantor to accept a new lease of the Premises the Guarantor
                shall
                pay the Landlord on demand (in addition to any other loss damage
                costs
                charges expenses or other liability which the Guarantor may be required
                to
                make good and without prejudice to any other rights of the Landlord)
                such
                demand to be made within three months from and including the date
                of the
                Trigger Event an amount equal to the rents which would have been
                payable
                under this Lease but for the Trigger Event (so far as such rents
                do not
                otherwise continue to be payable) for the period commencing on the
                date of
                the Trigger Event and ending on the earlier of the first anniversary
                of
                the Trigger Event and any date upon which rent is first payable for
                the
                whole of the Premises on a reletting of them all the date upon which
                the
                Premises are occupied whether pursuant to a lease or other form of
                letting
                document

            

    

     

    
      
        
        

      

      
        35

        
          

        

      

      
        
        

      

    

     

    
      	8.5  	
              without
                prejudice to the rights of the Landlord against the Tenant the Guarantor
                shall be a principal obligor in respect of its obligations under
                this
                clause and not merely a surety and accordingly the Guarantor shall
                not be
                discharged nor shall its obligations be affected by any act or thing
                or
                means whatsoever by which its obligations would have been discharged
                if it
                had not been a primary obligor

            

    

     

    
      	8.6  	
              the
                Guarantor shall pay all charges (including legal and other costs)
                on a
                full indemnity basis incurred by the Landlord in relation to the
                enforcement of this guarantee and
                indemnity

            

    

     

    
      	8.7  	
              the
                Landlord may at its option enforce the Guarantor's obligations without
                having first either enforced the Tenant's obligations or pursued
                any other
                rights which the Landlord may have obtained in relation to this
                Lease

            

    

     

    
      	8.8  	
              the
                Guarantor shall not be entitled to participate in any security held
                by the
                Landlord for the Tenant's obligations or to any right of subrogation
                in
                respect of any such security until all the Tenant's and the Guarantor's
                obligations have been fully and unconditionally complied
                with

            

    

     

    
      	8.8.1  	
              the
                Guarantor shall not claim in any liquidation bankruptcy composition
                or
                scheme of arrangement of the Tenant in competition with the Landlord
                and
                if and to the extent that it receives the same shall remit to (and
                until
                remission shall hold in trust for) the Landlord all money received
                from
                any liquidator trustee or receiver or out of any composition or
                arrangement or from any supervisor until all the Tenant's and Guarantor's
                obligations have been fully and unconditionally complied with
                and

            

    

     

    
      	8.8.2  	
              this
                guarantee and indemnity shall enure for the benefit of the Landlord's
                successors in title under this Lease without the necessity for any
                assignment

            

    

     

    
      
        
        

      

      
        36

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS whereof
      this deed has been executed by the parties hereto and is intended to be and
      is
      hereby delivered on the date first above written

     

    SCHEDULE
      1

    (The
      Premises)

     

    The
      land
      and buildings shown delineated and edged red on the Plan and registered at
      the
      Land Registry under Title No GM946124

     

    SCHEDULE
      2

    (Exceptions
      and reservations)

     

    The
      following rights and easements are reserved out of the Property unto the
      Landlord and the occupiers of any adjoining or neighbouring land and all other
      persons authorised by the Landlord:

     

    
      	1.  	
              The
                right at any time but (except in emergency) after giving reasonable
                prior
                notice to enter (or in an emergency or after the giving of reasonable
                prior notice during the Tenant’s absence to break and enter) the Property
                in order to:

            

    

     

    
      	a.  	
              inspect
                or view the condition of the
                Property;

            

    

     

    
      	b.  	
              carry
                out work upon any adjacent premises;
                and

            

    

     

    
      	c.  	
              to
                carry out any repairs or other work which the Landlord must or may
                carry
                out under the provisions of this Lease or to do any other thing which
                under the said provisions the Landlord may
                do

            

    

     

    
      	2.  	
              A
                right of way at all times and for the purposes with or without vehicles
                of
                any description over and along the Road and the right after giving
                reasonable notice being not less than 10 working days written notice
                to
                make connections with and construct access roads into such Road and
                all
                such parts of the Property as may separate the adjoining land comprised
                in
                title number GM732033 and such Road at their most convenient or practical
                point or elsewhere as may be agreed provided that the Landlord or
                those
                authorised by it shall have the right to enter upon so much of the
                Property as may be necessary for the purpose of connecting up and
                maintaining such roads causing as little damage and inconvenience
                as
                possible and making good any damage caused
                thereby

            

    

     

    
      
        
        

      

      
        37

        
          

        

      

      
        
        

      

    

     

    
      	3.  	
              The
                right after giving reasonable notice being not less than 10 working
                days
                written notice to enter upon so much of the Property as may be necessary
                for the purposes of laying pipes wires cables ducts and other conducting
                media and apparatus for the supply of services (“Service Installations”)
                to the adjoining land comprised in title number GM732033 and making
                connections thereto (causing as little damage and inconvenience as
                possible and making good any damage caused thereby) and to the free
                and
                uninterrupted passage of water soil gas electricity and telephone
                and any
                other services to and from all parts of the adjoining land comprised
                in
                title number GM732033 through any Service Installations which are
                now or
                may hereafter during the Term be in or under the
                Property

            

    

     

    
      	4.  	
              The
                right and liberty at any time hereafter during the Term to erect
                and
                maintain on any part of the adjoining land comprised in title number
                GM732033 any buildings and other erection of such height or extent
                as the
                Landlord may think fit notwithstanding that the access of light and
                air
                over the Property to any window or other opening in any building
                erected
                thereon may by such building or erection so erected by wholly or
                partially
                obstructed prejudiced reduced or interfered
                with

            

    

     

    
      	5.  	
              All
                other rights and easements as may be required during the Term to
                enable
                the Landlord to construct any building or erection on the adjoining
                land
                comprised in title number GM732033

            

    

     

    
      	6.  	
              All
                other rights easements and quasi-easements appurtenant to or capable
                of
                benefiting the adjoining land comprised in title number
                GM732033

            

    

     

    
      	7.  	
              All
                necessary rights over the Property to Norweb Plc pursuant to its
                lease of
                the electricity sub-station dated 9 January 1997 and all necessary
                rights
                over the Property in order for the Landlord to comply with the covenants
                on the part of the Landlord in the said Lease to Norweb Plc and to
                enable
                it to enforce the covenants on the part of the tenant in the said
                Lease

            

    

     

    
      
        
        

      

      
        38

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      3

    (Rent
      and Rent Review)

     

    
      	
              1

            	
              In
                this schedule the following expressions have the respective specified
                meanings:

            

    

     

    "Current
      Rent"
      means
      the amount of the yearly rent first reserved by this lease payable immediately
      before each of the Review Dates

     

    "Review
      Dates"
      means:

     

    
      	 	
              (a)

            	
              the
                Rent Review Dates specified in the Particulars
                and

            

    

     

    
      	 	
              (b)

            	
              any
                date so stipulated by virtue of paragraph
                7

            

    

     

    "Revised
      Rent"
      means
      the yearly open market rental value which might reasonably be expected to be
      payable following the expiry of any period at the beginning of the term which
      might be negotiated in the open market for the purposes of fitting out during
      which no rent or a concessionary rent is payable (and on the assumption that
      the
      lessee has had the benefit of such rent free or concessionary rent period)
      if
      the Premises had been let in the open market by a willing lessor to a willing
      lessee with vacant possession on the relevant Review Date without fine or
      premium for a term equivalent to the Term computed from the Review Date and
      otherwise upon the provisions (save as to the amount of the rent first reserved
      by this lease but including the provisions for rent review at the second and
      fifth years) contained in this lease and on the assumption if not a fact that
      the said provisions have been fully complied with and on the further assumptions
      that:

     

    
      	 	
              (a)

            	
              the
                Permitted Use and the Premises comply with Planning Law and every
                other
                Enactment and that the lessee may lawfully implement and carry on
                the
                Permitted Use

            

    

     

    
      
        
        

      

      
        39

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (b)

            	
              the
                Premises are ready to receive the fitting out works of the willing
                lessee

            

    

     

    
      	 	
              (c)

            	
              no
                work has been carried out to the Premises which has diminished their
                rental value

            

    

     

    
      	 	
              (d)

            	
              in
                case the Premises or any part thereof have been destroyed or damaged
                they
                have been fully restored

            

    

     

    but
      disregarding any effect on rent of:

     

    
      	 	
              (i)

            	
              the
                fact that the Tenant or any lawful underlessee or other lawful occupier
                or
                their respective predecessors in title has been or is in occupation
                of the
                Premises

            

    

     

    
      	 	
              (ii)

            	
              any
                goodwill attached to the Premises by the carrying on in them of the
                business of the Tenant or any lawful underlessee or their respective
                predecessors in title or other lawful
                occupier

            

    

     

    
      	 	
              (iii)

            	
              any
                works carried out to the Premises during the Term by the Tenant or
                any
                permitted underlessee in either case at its own expense in pursuance
                of a
                licence granted by the Landlord (where necessary) and otherwise than
                in
                pursuance of any obligation to the Landlord (but not an obligation
                arising
                out of or contained in any licence for
                alterations);

            

    

     

    
      	 	
              (iv)

            	
              any
                estimate of open market rental value made for the purposes of insuring
                loss of rent

            

    

     

    "Review
      Surveyor"
      means
      an independent chartered surveyor appointed pursuant to paragraph 5 and if
      he is
      to be nominated by or on behalf of the President of the Royal Institution of
      Chartered Surveyors the President shall be requested to nominate an independent
      chartered surveyor having not less than ten years practice next before the
      date
      of his appointment and recent substantial experience in the letting and
      valuation of premises of a similar character and quality to those of the
      Premises and who is a partner or director of a leading firm or company of
      surveyors having specialist market and valuation knowledge of such
      premises

     

    
      
        
        

      

      
        40

        
          

        

      

      
        
        

      

    

     

    
      	
              2

            	
              The
                yearly rent first reserved and payable under this Lease for each
                of the
                first two years of the Term is £100,170 (one hundred thousand one hundred
                and seventy pounds) The Tenant acknowledges that the open market
                rental
                value of the Premises at the date hereof is £200,340 per annum, and that
                the parties have agreed to apply one year’s rent free by reducing the
                first two years’ rent 

            

    

     

    
      	
              3

            	
              The
                yearly rent first reserved and payable from the first Review Date
                until
                the second Review Date, and from the Second Review Date until the
                expiry
                of the Term shall be the higher of:

            

    

     

    
      	 	
              3.1

            	
              the
                Current Rent; and

            

    

     

    
      	 	
              3.2

            	
              the
                Revised Rent

            

    

     

    
      	
              4

            	
              If
                the Landlord and the Tenant shall not have agreed the Revised Rent
                by the
                date three months before each of the Review Dates it shall (without
                prejudice to the ability of the Landlord and the Tenant to agree
                it at any
                time) be assessed as follows:

            

    

     

    
      	 	
              4.1

            	
              the
                Review Surveyor shall (in the case of agreement about his appointment)
                be
                appointed by the Landlord or the Tenant to assess the Revised Rent
                or (in
                the absence of agreement at any time about his appointment) be nominated
                to assess the Revised Rent by or on behalf of the President for the
                time
                being of The Royal Institution of Chartered Surveyors on the application
                of the Landlord or the Tenant;

            

    

     

    
      	 	
              4.2

            	
              the
                Review Surveyor shall act as an expert; and shall be
                required:

            

    

     

    
      	 	
              4.2.1

            	
              to
                give written notice to the Landlord and the Tenant inviting each
                of them
                to submit to him within such time limits as he shall reasonably stipulate
                a proposal for the Revised Rent supported by any or all
                of:

            

    

     

    
      
        
        

      

      
        41

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (a)

            	
              a
                statement of reasons;

            

    

     

    
      	 	
              (b)

            	
              a
                professional rental valuation;

            

    

     

    
      	 	
              (c)

            	
              information
                in respect of any other matters they consider relevant; and (separately
                and later)

            

    

     

    
      	 	
              (d)

            	
              submissions
                in respect of each other's statement of reasons valuation and other
                matters; and

            

    

     

    
      	 	
              4.2.2

            	
              upon
                written request from the Landlord to assess the Revised Rent with
                a
                hearing and not solely upon the written submissions and other matters
                referred to at paragraph 5.2.1 of this schedule 4;
                and

            

    

     

    
      	 	
              4.2.3

            	
              to
                give written notice to the Landlord and the Tenant if he shall appoint
                a
                Solicitor or Counsel or expert to advise and assist him on points
                of law
                and/or procedure and/or evidence which notice shall include the name
                of
                the Solicitor or Counsel or expert and details of their anticipated
                fees
                and expenses and the Landlord or the Tenant shall notify the Review
                Surveyor within a reasonable period if there is any objection to
                such
                appointment or the level of such fees or expenses and the Review
                Surveyor
                shall give reasonable consideration to such
                representations;

            

    

     

    
      	 	
              4.3

            	
              if
                the Review Surveyor refuses to act or is or becomes incapable of
                acting or
                dies, the Landlord or the Tenant may apply to the President for the
                appointment of another Review
                Surveyor;

            

    

     

    
      	
              5

            	
              If
                the Revised Rent has not been agreed or assessed by the relevant
                Review
                Date the Tenant shall:

            

    

     

    
      	 	
              5.1

            	
              continue
                to pay the Current Rent on account
                and

            

    

     

    
      
        
        

      

      
        42

        
          

        

      

      
        
        

      

    

     

    
      	 	
              5.2

            	
              pay
                the Landlord within 14 days after the agreement or assessment of
                the
                Revised Rent any amount by which the Revised Rent for the period
                commencing on the relevant Revised Date and ending on the quarter
                day
                following the date of payment exceeds the Current Rent paid on account
                for
                the same period plus interest (but calculated at the level specified
                in
                the Lease Particulars as “INTEREST ON SHORTFALL OF RENT REVIEW”) for each
                instalment of rent due on and after the Review Date on the difference
                between what would have been paid on that rent day had the Revised
                Rent
                been fixed and the amount paid on account (the interest being payable
                from
                the date on which the instalment was due up to the date of payment
                of the
                shortfall)

            

    

     

    
      	
              6

            	
              If
                any Enactment restricts the right to review rent or to recover an
                increase
                in rent otherwise payable on the Review Date then when the restriction
                is
                released, the Landlord may at any time within six months after the
                date of
                release, give to the Tenant not less than one month's notice requiring
                a
                rent review as at the next following quarter day which shall for
                the
                purposes of this lease be the Review
                Date

            

    

     

    SCHEDULE
      4

    (Form
      of Guarantee on Assignment)

     

    (References
      in this schedule to the "Lease" mean references to this lease)

     

    
      	1.  	
              The
                Guarantor in consideration of the Landlord consenting to the assignment
                or
                Transfer of the Lease to the Assignee agrees with the Landlord that
                during
                such period (including any period of holding over continuation or
                extension of the Term whether by any Enactment common law or otherwise)
                as
                the Lease is vested in the
                Assignee:

            

    

     

    
      	1.1  	
              all
                the Assignee's obligations will be performed and that if there is
                any
                breach of those obligations (notwithstanding any time or indulgence
                allowed by the Landlord or compromise neglect or forbearance in enforcing
                the Assignee's obligations or any proper refusal by the Landlord
                to accept
                tendered rent) the Guarantor will perform the obligations and will
                on
                demand and on a full indemnity basis pay the Landlord an amount equal
                to
                the rents or other amounts not paid and any loss or any other liability
                suffered by the Landlord as a result of the breach (and following
                any
                non-payment shall pay interest at the Stipulated Rate from the date
                of
                demand to the Guarantor until the date of payment) and will otherwise
                indemnify the Landlord against all consequences arising from the
                breach

            

    

     

    
      
        
        

      

      
        43

        
          

        

      

      
        
        

      

    

     

    
      	1.2  	
              if
                any liquidator or other person having power to do so disclaims this
                Lease
                or if it is forfeited or if the Assignee ceases to exist (each a
                "Trigger
                Event") and if the Landlord notifies the Guarantor within 3 months
                after
                the date on which the Landlord first knows or ought reasonably to
                have
                known about the occurrence of the Trigger Event that it requires
                the
                Guarantor to accept a lease of the Premises for a term calculated
                from the
                date of the Trigger Event to the date on which the Term would have
                expired
                by the passing of time and at the same rents and subject to the same
                obligations and provisions (except that the Guarantor shall not be
                required to procure that any other person is made party to the lease
                as
                guarantor) as are reserved by and contained in the Lease immediately
                before the Trigger Event and with coincidental dates for review of
                the
                rent(s) reserved by the Lease (the said new lease and the rights
                and
                liabilities under it to take effect as from the date of the Trigger
                Event)
                the Guarantor shall immediately accept such lease accordingly and
                execute
                and deliver to the Landlord a counterpart of it and indemnify the
                Landlord
                upon demand against the costs so properly
                incurred

            

    

     

    
      	1.3  	
              the
                Guarantor's obligations under this paragraph 1 shall not be affected
                by:

            

    

     

    
      
        	            
                 	
                
                  1.3.1   

                   

                

              	
                
                  any
                    variation or waiver of the terms of the Lease or any of them
                    agreed
                    between the Landlord and the Assignee (provided that the Guarantor’s
                    liability shall not thereby increase) or

                   

                

              
	 	1.3.2.	
                any partial surrender of the Lease (and the
                  Guarantor's
                  liability shall continue but only in respect of the Assignee's
                  continuing
                  obligations) or

              

      

       

      
        
          
          

        

        
          44

          
            

          

        

        
          
          

        

      

       

      
        	         
	1.3.3  	
                any legal limitation immunity disability incapacity
                  insolvency or the winding-up of the Assignee or

                 

              
	 	1.3.4	(without
                limitation to the foregoing) any other act by which but for this
                provision
                the Guarantor would have been discharged or released (whether in
                whole or
                in part) from liability

      

       

    

    or
      any
      combination of any two or more of such matters

     

    
      	1.4  	
              if
                the Trigger Event occurs to the Landlord's knowledge and for any
                reason
                the Landlord does not require the Guarantor to accept a new lease
                of the
                Premises the Guarantor shall pay the Landlord on demand (in addition
                to
                any other loss damage costs charges expenses or other liability which
                the
                Guarantor may be required to make good and without prejudice to any
                other
                rights of the Landlord) an amount equal to the rents which would
                have been
                payable under the Lease but for the Trigger Event (so far as such
                rents do
                not otherwise continue to be payable) for the period commencing on
                the
                date of the Trigger Event and ending on the earlier of the date six
                months
                after the Trigger Event and any date upon which rent is first payable
                for
                the whole of the Premises on a reletting of them or the end of the
                Term

            

    

     

    
      	1.5  	
              without
                prejudice to the rights of the Landlord against the Assignee the
                Guarantor
                shall be a principal obligor in respect of its obligations under
                this
                paragraph 1 and not merely a surety and accordingly the Guarantor
                shall
                not be discharged nor shall its obligations be affected by any act
                or
                thing or means whatsoever by which its obligations would have been
                discharged if it had not been a primary
                obligator

            

    

     

    
      	1.6  	
              the
                Guarantor shall pay all reasonable and proper charges (including
                legal and
                other costs) on a full indemnity basis incurred by the Landlord in
                relation to the enforcement of this guarantee and
                indemnity

            

    

     

    
      
        
        

      

      
        45

        
          

        

      

      
        
        

      

    

     

    
      	1.7  	
              the
                Landlord may at its option enforce the Guarantor's obligations without
                having first either enforced the Assignee's obligations or pursued
                any
                other rights which the Landlord may have obtained in relation to
                the
                Lease

            

    

     

    
      	1.8  	
              the
                Guarantor shall not be entitled to participate in any security held
                by the
                Landlord for the Assignee's obligations or to any right of subrogation
                in
                respect of any such security until all the Assignee's and the Guarantor's
                obligations have been fully and unconditionally complied
                with

            

    

     

    
      	1.9  	
              the
                Guarantor shall not claim in any liquidation bankruptcy composition
                or
                scheme of arrangement of the Assignee in competition with the Landlord
                and
                if and to the extent that it receives the same shall remit to (and
                until
                remission shall hold in trust for) the Landlord all money received
                from
                any liquidator trustee or receiver or out of any composition or
                arrangement or from any supervisor until all the Assignee's and the
                Guarantor's obligations have been fully and unconditionally complied
                with
                and

            

    

     

    
      	1.10  	
              this
                guarantee and indemnity shall enure for the benefit of the Landlord's
                successors in title under the Lease without the necessity for any
                assignment

            

    

     

    SCHEDULE
      5

    (Documents
      of Title affecting the Premises)

     

    
      	1.  	
              A
                lease of the Premises dated 26th
                September 2003 and made between Scooba Investments Limited (1) and
                Tiarella Investments Limited (2) and registered at the Land Registry
                with
                Title No. GM946142

            

    

     

    
      	2.  	
              The
                entries in Title No GM946142 and the documents referred to in that
                title

            

    

     

    SCHEDULE
      6

    (Provisions
      supplemental to clauses 4.7 and 4.8)

     

    
      	1  	
              Notwithstanding
                the Tenant’s obligations in clause 4.7 insofar as they relate to the Road
                the Tenant will not undertake any repair or maintenance of the road
                unless:-

            

    

     

    
      
        
        

      

      
        46

        
          

        

      

      
        
        

      

    

     

    
      	1.1  	
              the
                specification and costing for the proposed repair and/or maintenance
                has
                first been produced and approved by the Landlord approval not to
                be
                unreasonably withheld or delayed;
                and

            

    

     

    
      	1.2  	
              the
                Landlord has confirmed in writing to the Tenant that either the Landlord
                will contribute 50% of the cost (less any VAT payable by the Tenant)
                of
                effecting such repair and/or maintenance in accordance with the schedule
                and costings as previously approved or has procured a contribution
                from
                the adjacent owner for the said
                amount

            

    

     

    and
      the
      Landlord agrees to make available to the Tenant such net 50% contribution within
      14 days of production to the Landlord of an invoice therefor requiring payment
      by the Tenant and as approved in accordance with this paragraph

     

    Notwithstanding
      the Tenant’s obligations under clauses 4.7 and 4.8 such obligations in relation
      to repair, maintenance and decoration of the floor of the warehouse area of
      the
      Premises are qualified such that the Tenant has no obligation to the Landlord
      to
      put or maintain such floor in any better state of repair, condition or
      decorative order than is shown by the schedule of condition attached hereto
      as
      an appendix

     

    

     

    
      	
              EXECUTED as
                a Deed of  

              WLG (UK) LIMITED

              in the presence of one director

              and the company secretary or

              two directors:-

            	
              )

              )

              )

              )

              )

            	 

    

    

    Director

     

     

     

    Director/Secretary

     

    
      
        
        

      

      
        47

        
          

        

      

      
        
        

      

    

     

    
      
        	
                SIGNED
                  as
                  a Deed on behalf of

                WLG
                  (USA) LIMITED

                incorporated
                  in (territory).....................

                by.................................................

                and
............................................

                (full
                  name(s) of person(s)
                  signing)

                being
                  [a] person(s) who, in
                  accordance

                with
                  the laws of that territory, is (or
                  are)

                acting
                  under the authority of that

                company):-

              	
                
                  
                    )
                      

                    )
                      

                    )
                      

                    )
                      

                    )
                      

                    )
                      

                    )
                      

                    )
                      

                    )
                      

                    )

                  

                

              	 

      

    

     

    Authorised
      Signatory

     

    
 

    Authorised
      Signatory

    

    
      
        
        

      

      
        48

        
          

        

      

      
        
        

      

    

     

    
      
        	
                SIGNED
                  as
                  a Deed on behalf of

                BREDBURY
                  LIMITED

                incorporated in Jersey by

                .................................................

                and ............................................

                being person who, in accordance
                  with
                  the

                laws of that territory, are acting
                  under
                  the 

                authority of that company):-

              	
                )
                  

                )
                  

                )
                  

                )
                  

                )
                  

                )
                  

                )
                  

              	 

      

       

    

    Authorised
      Signatory

    

    

    

    Authorised
      Signatory

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	DATED	
               8th
                February       
                2008

            

    

     

     

     

     

    
      	(1)  	
              BREDBURY
                LIMITED

            

    

    

    

    
      	(2)  	
              WLG
                (UK) LIMITED

            

    

    

    

    
      	(3)  	
              WLG
                (USA) LLC

            

    

    

    

    

    
      
        

      

    

     

    LEASE

    

    of

    

    Unit
      A,
      Site 1, Horsfield Way, Bredbury, Stockport

     

      
        

      

    

     

     

     

     

     

     

    

    LEACH
      & CO

    30
      St.
      George Street

    London
      W1S 2FH

    

    Tel:
      020
      7499 7373

    Fax:
      020
      7499 7575

    DX:
      82970
      Mayfair

    Ref:
      AKJ/LL/L76-9

    

    AKJ/JB/L76-9/LEASE
      CONFORMED COPY 8.2.2008

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      
         

        TABLE
          OF CONTENTS

      

       

      CLAUSES

       

    

    
      	
              1    DEFINITIONS

            	
              2

            
	 	 	 
	
              2    INTERPRETATION

            	
              7

            
	 	 	 
	
              3    DEMISE
                AND RENTS

            	
              9

            
	 	 	 
	
              4    TENANT'S
                OBLIGATIONS

            	
              10

            
	
              4.1

            	
              Headlease

            	
              10

            
	
              4.2

            	
              Rent

            	
              10

            
	
              4.3

            	
              VAT

            	
              10

            
	
              4.4

            	
              Outgoings

            	
              10

            
	
              4.5

            	
              Compliance
                with Enactments

            	
              11

            
	
              4.6

            	
              Official
                communications

            	
              11

            
	
              4.7

            	
              Repair

            	
              11

            
	
              4.8

            	
              Decoration
                and general condition

            	
              12

            
	
              4.9

            	
              Refuse

            	
              12

            
	
              4.10

            	
              Entry
                by the Landlord

            	
              12

            
	
              4.11

            	
              Remedying
                breaches

            	
              13

            
	
              4.12

            	
              Preserving
                rights

            	
              13

            
	
              4.13

            	
              Alterations
                and reinstatement

            	
              14

            
	
              4.14

            	
              Use

            	
              14

            
	
              4.15

            	
              Signs
                aerials etc

            	
              15

            
	
              4.16

            	
              Dealings
                with the lease

            	
              15

            
	
              4.17

            	
              Notifying
                Landlord of dealings with the lease

            	
              20

            
	
              4.18

            	
              Payment
                of cost of notices consents etc

            	
              20

            
	
              4.19

            	
              Installing
                machinery in the Premises

            	
              21

            
	
              4.20

            	
              Obstruction/overloading

            	
              21

            
	
              4.21

            	
              Complying
                with Planning Law and compensation

            	
              22

            
	
              4.22

            	
              Indemnifying
                the Landlord

            	
              22

            
	
              4.23

            	
              Notifying
                defects in the Premises

            	
              23

            
	
              4.24

            	
              Insurance
                and fire fighting equipment

            	
              23

            
	
              4.25

            	
              Dangerous
                and contaminative materials

            	
              24

            
	
              4.26

            	
              Returning
                the Premises to the Landlord

            	
              24

            
	
              4.27

            	
              Matters
                affecting the Premises

            	
              25

            
	
              4.28

            	
              Electricity
                sub-station

            	
              25

            
	 	 	 
	
              5    LANDLORD'S
                OBLIGATIONS

            	
              25

            
	
              5.1

            	
              Quiet
                enjoyment

            	
              25

            
	
              5.2

            	
              Headlease

            	
              25

            
	
              5.3

            	
              Insurance

            	
              26

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              6    OTHER
                AGREEMENTS AND DECLARATIONS

            	
              27

            
	
              6.1

            	
              Forfeiture
                and re-entry

            	
              27

            
	
              6.2

            	
              Service
                of notices

            	
              28

            
	
              6.3

            	
              Relief
                from liability to pay rent

            	
              29

            
	
              6.4

            	
              Ending
                of the lease following major damage - Insured
                Risks

            	
              30

            
	
              6.5

            	
              Arbitration
                fees

            	
              31

            
	
              6.6

            	
              Rent
                review memorandum

            	
              31

            
	
              6.7

            	
              Compensation

            	
              31

            
	
              6.8

            	
              Construction
                (Design and Management) Regulations 2007

            	
              32

            
	
              6.9

            	
              Jurisdiction

            	
              33

            
	
              6.10

            	
              Overriding
                lease

            	
              33

            
	
              6.11

            	
              Application
                of Landlord and Tenant (Covenants) Act 1995

            	
              33

            
	 	 	 
	
              7    CONTRACTS
                (RIGHTS OF THIRD PARTIES) ACT 1999

            	
              34

            
	 	 	 
	
              8    GUARANTEE
                AND GUARANTOR'S INDEMNITY

            	
              34

            

    

     

    

      SCHEDULES

       

      
        
          	
                  SCHEDULE
                    1

                	
                  37

                
	
                  (The
                    Premises)

                	
                  37

                
	 	 
	
                  SCHEDULE
                    2

                	
                  37

                
	
                  (Exceptions
                    and reservations)

                	
                  37

                
	 	 
	
                  SCHEDULE
                    3

                	
                  39

                
	
                  (Rent
                    and Rent Review)

                	
                  39

                
	 	 
	
                  SCHEDULE
                    4

                	
                  43

                
	
                  (Form
                    of Guarantee on Assignment)

                	
                  43

                
	 	 
	
                  SCHEDULE
                    5

                	
                  46

                
	
                  (Documents
                    of Title affecting the Premises)

                	
                  46

                
	 	 
	
                  SCHEDULE
                    6

                	
                  46

                
	
                  (Provisions
                    supplemental to clauses 4.7 and 4.8)

                	
                  46

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}]]