Document:

Facility Setup and Contract Manufacturing Agreement

 Exhibit 10.6 
 FACILITY SETUP AND CONTRACT MANUFACTURING AGREEMENT 
 between 
 Eckert & Ziegler Nuclitec GmbH 
 Gieselweg 1 
 38110 Braunschweig 
 Germany 
 -
hereinafter referred to as EZN - 
 and 
 Molecular Insight Pharmaceuticals, Inc 
 160 Second Street 
 Cambridge, MA 02142 
 USA 
 - hereinafter referred to as the MIPI - 
  

   
  

 TABLE OF CONTENTS 
  

					
	1	  	DEFINITIONS	  	3
			
	2	  	PURPOSE	  	6
			
	3	  	TERM AND TERMINATION	  	7
			
	4	  	REMEDIES UPON TERMINATION	  	8
			
	5	  	EXCLUSIVITY AND NON-COMPETE	  	9
			
	6	  	DEVELOPMENT AND KIT/SET SUPPLY PHASE	  	10
			
	7	  	TECHNOLOGY TRANSFER	  	11
			
	8	  	CONSTRUCTION OF FACILITY – FACILITY PROGRAM COST	  	11
			
	9	  	ASSET OWNERSHIP AND ENVIRONMENTAL INDEMNITY OF FACILITY	  	12
			
	10	  	MANUFACTURE AND SUPPLY OF FINAL PRODUCT	  	13
			
	11	  	ORDERS AND SHIPMENTS	  	14
			
	12	  	PAYMENTS	  	15
			
	13	  	LICENSES, PATENTS AND TECHNOLOGY	  	16
			
	14	  	REGULATORY MATTERS	  	17
			
	15	  	DATA MANAGEMENT	  	18
			
	16	  	DISCLOSURE OF TECHNOLOGY	  	18
			
	17	  	RIGHT OF FIRST REFUSAL	  	18
			
	18	  	RIGHT OF NEGOTIATION	  	18
			
	19	  	CONFIDENTIALITY	  	19
			
	20	  	NOTICES	  	19
			
	21	  	FORCE MAJEURE	  	20

  

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	22	  	BACK-UP	  	20
			
	23	  	INDEMNIFICATION AND INSURANCES	  	21
			
	24	  	EXPORT CONTROL	  	23
			
	25	  	GOVERNING LAW	  	24
			
	26	  	GENERAL	  	24

  

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 PREAMBLE 
  

	A.	MIPI is the worldwide licensee of an yttrium-90 radiolabeled somatostatin peptide analog, formerly known as OctreoTher and now the brand name Onalta. Onalta is
one of MIPI’s lead radiotherapeutic product candidates under development for the treatment of metastatic carcinoid and pancreatic neuroendocrine cancer in patients whose symptoms are not controlled by conventional somatostatin analog therapy.

  

	B.	In May 2009, the European Medicines Agency (EMEA) has approved the Phase 3 protocol for Onalta and it is now intended to proceed with the final clinical trial
that will position Onalta for marketing authorization in the EU expected for end of 2013/beginning of 2014. The proposed Phase 3 protocol will evaluate 194 patients in several European study sites. Additionally, Onalta shall be supplied to treatment
centers participating in an approved compassionate use program. 

  

	C.	MIPI is interested in exclusively sourcing the centralized manufacturing of Onalta and its distribution in certain countries in Europe, the Middle East, North
Africa, Russia and Turkey. The material shall be produced on a weekly basis by a batch process using the critical components [Y-90] Yttrium Chloride and a sterile pre-dispensed lyophilized preparation of DOTA-TOC in accordance with current Good
Manufacturing Practices (cGMP). In order to avoid shipping and customs barriers to reliable and timely supply of the final drug product to clinical units, MIPI wishes to partner with an existing GMP compliant facility for the centralized production
and distribution of radiolabeled [90Y]-Onalta. 

  

	D.	EZN operates a nuclear licensed site in Braunschweig, Germany, for the production and “cradle to grave” husbandry under ISO 9001 and ISO 13485 quality
systems of a diverse range radioactive isotopes used in industrial and medical applications. The Braunschweig site includes an existing licensed radiopharmaceutical manufacturing facility where Yttriga (Y-90 Chloride), an EMEA approved
“drug” is manufactured. 

  

	E.	MIPI desires that EZN plans, designs and constructs a commercial high throughput manufacturing facility suitable for the distribution of Onalta in the specified
territories under compassionate use and following EMEA marketing authorization. Additionally, it is intended to provide a “provisional” cGMP compliant interim supply capability for the supply of Phase 3 included patients.

 NOW, THEREFORE, the parties agree as follows: 
  

	1.	DEFINITIONS 

  

	 	1.1	“Affiliated Company” shall mean either (a) a company which is at least majority owned or majority controlled by a Party hereto or which holds at
least a majority interest or majority control in such Party; or (b) a parent company to one of the Parties hereto. 

  

	 	1.2	“Effective Date” shall mean the date of the last signature of this Agreement. 

  

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	 	1.3	“Agreement” shall mean this Agreement together with all exhibits, schedules, and appendices attached to this Agreement, all as respectively amended,
modified or supplemented by the Parties in accordance with the terms of this Agreement. 

  

	 	1.4	“Commercially Reasonable Effort” shall mean the efforts and resources customarily used in the industry by a company of similar size for a product with
an equivalent sales and profit potential to the Final Product. 

  

	 	1.5	“Current Good Manufacturing Practices” or “cGMP” shall mean the Current Good Manufacturing Practices followed by the pharmaceutical industry
and biotech firms to ensure that the products produced meet specific requirements for identity, strength, quality, and purity and as defined from time to time by the European Commission or other relevant Governmental Authority having jurisdiction
over the development, manufacture or sale of the products in the Territory pursuant to its regulations, guidelines or otherwise. 

  

	 	1.6	“Final Product” shall mean Onalta, ready to use radiolabeled product. 

  

	 	1.7	“Y-90” shall mean Yttriga, a Yttrium-90 chloride solution with EMEA Marketing Authorization to be supplied cGMP compliant by EZN.

  

	 	1.8	“Yttrium 90” shall mean Y90 chloride solution ordered by any Third Party other than MIPI and/or MIPI licensee and supplied by any Third Party other
than EZN for the on-site labeling in treatment centers. 

  

	 	1.9	“Kit” shall mean the sterile pre-dispensed lyophilized preparation of DOTA-TOC to be supplied cGMP compliant by MIPI to EZN. 

 

	 	1.10	“Set” shall mean Y90 and Kit to be provided separately for the onsite labelling by radiopharmacists at treatment centers. 

  

	 	1.11	“Dose vial(s)” shall mean the Final Product with 120 mCi Y90 at calibration. 

  

	 	1.12	“Batch” shall mean a production batch of Final Product manufactured by EZN under this Agreement. 

  

	 	1.13	“EZN Technology” shall mean all EZN or its Affiliated Company(s) proprietary technology, including patents, copyrights, trademarks, know-how,
techniques, methods, processes and trade secrets which is required for the purposes of performing the obligations of EZN under this Agreement and which is owned by EZN or its Affiliated Company(s), or which EZN is authorized to use, or which is
licensed to EZN from third parties and which is in existence in the form of a written, description, prototype or can otherwise be demonstrated to be the property of EZN or its Affiliated Company(s), prior to the Effective Date.

  

	 	1.14	“MIPI Technology” shall mean all MIPI proprietary technology, including patents, copyrights, trademarks, know-how, techniques, methods, processes and
trade secrets which is required for the purposes of performing the obligations of MIPI under this Agreement and which is owned by MIPI, or which MIPI is authorized to use, or which is licensed to MIPI from third parties and which is in existence in
the form of a written, description, prototype or can otherwise be demonstrated to be the property of MIPI, prior to the Effective Date. 

  

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	 	1.15	“EMEA” shall mean the European Medicines Agency. 

  

	 	1.16	“Regulatory Authorities” shall mean the European Authority and/or the United States Authority and/or any other corresponding regulatory authority in
any other geographic areas. 

  

	 	1.17	“AMG” shall mean the German Medicinal Products Act (Arzneimittelgesetz) as amended from time to time. 

  

	 	1.18	“Clinical Trials” shall mean Phase 3 human trials for clinical development of Onalta as approved by EMEA. 

  

	 	1.19	“Set Supply Phase” shall have the meaning set forth in Article 2.2. 

  

	 	1.20	“Interims Phase” shall mean the period in which EZN supplies Final Product for the clinical trials using a provisional cGMP compliant facility.

  

	 	1.21	“Kit Supply Phase” shall have the meaning set forth in Article 2.2. 

  

	 	1.22	“Development Phase” shall mean the period commencing from the Effective Date until completion of the facility setup of the commercial high throughput
production facility. 

  

	 	1.22	“Marketing Authorization” shall mean, with respect to a country in the Territory, the approval by the appropriate authority necessary for the
commercialization of the Final Product in that country. Marketing Authorization shall not include the reimbursement approval. 

  

	 	1.24	“Facility” shall mean the Hot Cell(s) and Equipment to be constructed by EZN in its currently existing factory in Braunschweig, Germany, for the
manufacture, dispensing, sterilization, testing, release, packaging and despatch of the Final Product. 

  

	 	1.25	“Provisional Facility” shall mean the assets already owned, to be purchased or manufactured by EZN for the supply of the Final Product for clinical
trials during the lnterims Phase. 

  

	 	1.26	“Facility Program” shall mean Facility and Provisional Facility. 

  

	 	1.27	“Hot Cell(s)” shall mean the compatible isolator boxes to be purchased or manufactured by EZN for and on behalf of MIPI and installed in the currently
existing factory in Braunschweig for the term of this Agreement unless EZN exercises the option under Article 9.3. 

  

	 	1.28	“Equipment” shall mean the moveable assets already owned, to be purchased or manufactured by EZN for the purpose of this Agreement, exclusive of the
Hot Cell(s). 

  

	 	1.29	“Intellectual Property Rights” (IPR) shall mean all intellectual rights (including but not limited to) rights to inventions, patent rights, know-how,
copyrights and design rights in any part of the world to the fullest extent and for the full period thereof (including without limitation any extensions, reversions and renewals) and all rights thereto and interests therein.

  

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	 	1.30	“Process” shall mean the process of formulation, preparation, labeling, dispensing into dose vials, sterilization, inspection and testing of Final
Product initially transmitted by MIPI to EZN as set forth in Article 7. 

  

	 	1.31	“Scaled up Process” shall mean the process resulting from the development and improvement of the upon the Effective Date existing and initially
transmitted Process advancing and optimizing the production capacity, manufacture and distribution of the Final Product. 

  

	 	1.32	“Specification(s)” shall mean those specifications for the Final Product set forth in Article 10.1 hereof. 

  

	 	1.33	“Packaging” means all primary containers, including bottles, cartons, shipping cases or any other like matter used in packaging or accompanying the Kit, Set
and/or Final Product. 

  

	 	1.34	“Validation” shall mean the program by which documented evidence provides assurance that the Process/Scaled up Process will consistently produce the Final
Product that meets Specifications and quality attributes, to the reasonable satisfaction of the appropriate Regulatory Authorities. 

  

	 	1.35	“Territory” shall mean those countries as of the Effective Date set forth in Exhibit A. 

  

	 	1.36	“Party” or “Parties” shall mean MIPI or EZN, or MIPI and EZN, whichever the context admits. 

  

	 	1.37	“Third Party” shall mean any Person or other entity other than MIPI, EZN or their respective Affiliates. 

  

	2	PURPOSE 

  

	 	2.1	The scope and object of the Agreement is to provide for the construction of a Facility at EZN’s manufacturing site in Braunschweig, Germany, for the
exclusive manufacture and supply of Final Product during the term of this Agreement within the Territory. 

  

	 	2.2	 Additionally, starting with the Effective Date of this Agreement, EZN will exclusively provide either for the supply of Sets for Y90 direct
labeling by radiopharmacists at treatment centers in the Territory (Set Supply Phase) or single Kits for Yttrium 90 direct labeling by radiopharmacists at treatment centers in the Territory. (Kit Supply Phase). MIPI and MIPI licensee undertake to
request Set supply and Kit supply only for the period until the Final Product can be delivered on a country-by country-basis for Clinical Trials, under compassionate use program and/or following Marketing Authorization. MIPI and MIPI licensee will
apply for compassionate use and subsequent Marketing Authorisation in all countries of the EU and any other country within the Territory that duly requires such regulatory programs/approvals. It is further understood between the Parties that until
Final Product is available, Set supply shall be the preferred method of supply. MIPI or MIPI licensee will communicate in writing in any materials provided to the treatment centers that Yttriga is the qualified active substance for the radioactive
labeling with yttrium 90 chloride. MIPI and its licensee

  

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agree that the Yttrium 90 to be used for the direct labeling by radiopharmacists at treatment centers will be delivered by duly qualified suppliers only, meaning that they meet the Specifications
provided by MIPI which will have to be proven to MIPI or MIPI’s licensee. 

  

	 	2.3	It is anticipated that during the Term of this Agreement later duplication(s) of the Facility may be required by MIPI or its licensee at other sites in order to follow
market demands. If MIPI has the intention to conduct a new site set-up within the Territory, EZN shall have a right of first refusal for recontracting with MIPI as facility set-up and contract manufacturing partner subject to the terms and
conditions set forth herein. 

  

	3	TERM AND TERMINATION 

  

	 	3.1	The term of this Agreement shall commence upon the Effective Date and, unless terminated earlier pursuant to this Agreement, shall continue until the tenth
anniversary of the Effective Date (“Term”). 

  

	 	3.2	Upon Forty-two (42) months following the Effective Date and for the following six (6) months, the Parties agree to meet in order to discuss, in good
faith, the terms and conditions under which the Parties intend to continue the term of this Agreement beyond the fifth anniversary of the Effective Date (“Renegotiation Period”). If the Parties come to an agreement during the Renegotiation
Period, then for the remaining five (5) years of this Agreement the renegotiated terms and conditions shall apply. In case the Parties will not reach an agreement, either Party has the right to terminate this Agreement giving to the other Party
at least twelve (12) months written notice prior to the fifth anniversary of the Effective Date otherwise the Agreement will automatically continue for the remaining term on the terms and conditions set forth herein. 

 

	 	3.3	It is agreed between the Parties that in case of termination of the Agreement as set forth in Article 3.2, the manufacture and supply of Kit, Set and Final
Product will continue on the terms and conditions as set forth in this Agreement for eighteen (18) months following the termination notice. 

  

	 	3.4	This Agreement may be terminated by either Party in the event of a material breach by the other Party of the terms and conditions hereof; provided, however, the
other Party shall first give to the breaching Party written notice of the proposed termination of this Agreement (“Breach Notice”), specifying the grounds thereof. Upon receipt of such Breach Notice, the breaching Party shall have thirty
(30) days to respond by curing such breach. If the breaching Party does not cure such breach within such period, the other Party may terminate the Agreement without prejudice to any other rights or remedies which may be available to the
non-breaching Party. 

  

	 	3.5	 Material breach of MIPI’s obligations under this Agreement shall mean and be limited to: (i) milestone payments for facility setup
overdue for more than three (3) months, (ii) monthly payments overdue for more than three (3) months, (iii) payments for Final Product exceeding an accumulated amount of ***** overdue for more than three (3) month,
(iv) funds held in the Escrow Account have not been made available to EZN for the purpose of decontamination and decommissioning of the Hot Cell(s) within three (3) month despite EZN’s notification

  
  
 *Confidential Treatment
Requested* 
  

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of commissioning of the high throughput facility, (v) breach of exclusivity clause, and (vi) violation of EZN’s right of first refusal and/or right of first negotiation.

  

	 	3.6	Material breach of EZN’s obligations under this Agreement shall mean and be limited to: (i) EZN has failed, in any one contract year period, to fulfil
more than four (4) orders of Kit, Set or Final Product consistent with the Specifications (a “Supply Breach”). It shall not be considered a Supply Breach in the event that (i) the failure to supply is attributable, in whole or in
part, directly or indirectly, to MIPI or its licensee, (ii) EZN is able to supply an additional replacement of Kit, Set or Final Product meeting the Specifications in accordance with this Agreement within one (1) week of the delivery date of
the originally scheduled order of Kit, Set or Final Product, or (iii) if the Kit, Set or Final Product failure is the result of conducting the Process under a deviation at the request of MIPI. Any failure by EZN to supply Kit, Set or Final
Product due to maintenance, repairs and/or Force Majeure shall not be a material breach or Supply Breach under this Agreement. 

  

	 	3.7	Notwithstanding anything contained in this Agreement to the contrary, this Agreement may be terminated by either Party in the event the other Party files a
petition in bankruptcy, is adjudicated a bankrupt, or files a petition or otherwise seeks relief under or pursuant to any bankruptcy, insolvency or reorganization statute or proceeding, or if a petition in bankruptcy is filed against it which is not
dismissed within sixty (60) days or proceedings are taken to liquidate the assets of such Party which are not stayed within sixty (60) days. Any assets jointly owned by the two Parties including the Jointly Owned Arising IP shall become the
property of the Party not seeking such relief. 

  

	 	3.8	Notice of Termination and Breach Notice are to be sent by registered letter. 

  

	4	REMEDIES UPON TERMINATION 

  

	 	4.1	If EZN terminates this Agreement, under Article 3, EZN, in addition to any claim for damages EZN may have, shall be entitled to: 

 (i) retain all amounts paid by MIPI to EZN prior to such termination; 
 (ii) except for the Hot Cell(s), return to MIPI all the Equipment which is owned by MIPI and in EZN’s possession and for which MIPI has
paid all amounts due to EZN pursuant to this Agreement, unless MIPI requests that EZN decommissions the Equipment by using the funds in the Escrow Account; 
 (iii) terminate all activities under this Agreement expeditiously so as to minimize costs incurred by MIPI therefore; 
 (iv) deliver all undelivered Kits or Dose Vials to MIPI, or destroy all undelivered Kits or Dose Vials, whichever MIPI may choose; 
 (v) immediately upon such termination, except as provided elsewhere in this agreement, terminate all licenses granted by EZN to MIPI under
this Agreement which rights shall revert back to EZN; and 
 (vi) where applicable receive from MIPI written confirmation that
the foregoing steps have been taken and that it has ceased using all patents data, information, technology, trade secrets and other intellectual property owned by EZN pursuant to this Agreement

  

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MIPI shall further reimburse EZN for all reimbursable costs and work necessarily and properly incurred in relation to the orderly cessation of the work and sums owing but not invoiced prior to
the effective date of any such termination by EZN under this Agreement. In addition, MIPI will if EZN so opts, either promptly transfer title of the Hot Cell(s) to EZN or allow the execution of the Decontamination and Decommissioning work by using
the funds in the Escrow Account, whereupon MIPI shall have no further obligations under Article 9.4. 
  

	 	4.2	If MIPI terminates this Agreement under Article 3, MIPI, in addition to any claim for damages MIPI may have, shall be entitled to: 

 (i) within thirty (30) days of such termination at MIPI’s expense receive the Equipment and all related materials, in its then
current condition (subject to decontamination); 
 (ii) exercise the option whether the Hot Cell(s) shall be returned by EZN to
MIPI at its own expense or whether they shall be decontaminated and decommissioned by EZN by using the funds in the Escrow Account; 
 (iii) receive at MIPI’s expense all Kits and Dose Vials which have been ordered but not delivered and in possession of EZN; 
 (iv) immediately upon such termination, terminate all licenses granted by MIPI to EZN under this Agreement which rights shall revert back to MIPI; and 
 (v) receive from EZN written confirmation that the foregoing steps have been taken and that it has ceased using all patents data,
information, technology, trade secrets and other intellectual property owned by MIPI pursuant to this Agreement. 
 If MIPI
terminates this Agreement, MIPI shall reimburse EZN for all reimbursable costs and work necessarily and properly incurred in relation to the orderly cessation of the work and sums owing but not invoiced prior to the effective date of any such
termination by MIPI under this Agreement. In addition, MIPI will if EZN so opts, either promptly transfer title of the Hot Cell(s) to EZN or allow the execution of the Decontamination and Decommissioning work by using the funds in the Escrow
Account, whereupon MIPI shall have no further obligations under Article 9.4. 
  

	5	EXCLUSIVITY AND NON-COMPETE 

  

	 	5.1	EZN shall not, and shall ensure that its Affiliates do not, directly or indirectly, manufacture Final Product for any person or entity for sale in the Territory other
than MIPI or its licensee. MIPI shall not, and shall ensure that its Affiliates and licensees do not, directly or indirectly, manufacture Final Product destined for sale in the Territory. 

  

	 	5.2	MIPI shall exclusively order from EZN all of MIPI’s, its Affiliates’ and licensees’ Kit, Set and Final Product destined for the Clinical Trials,
Compassionate Use and Commercial Supply in the Territory. 

  

	 	5.3	 During the term of this Agreement and for a period of two (2) years following the termination or expiration of this Agreement, EZN shall not
manufacture and/or sell Final Product or radio-labelled therapeutic somatostatin analogs with a somatostatin subtype receptor binding behaviour similar to Final Product. For the avoidance of doubt, diagnostic somatostatin analogs as well as
radionuclides either in chemical or

  

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pharm-grade form, and radiochemical and radiopharmaceutical synthesis, labelling and dispensing technology devices, are not subject of this Non-compete irrespective of their final use with the
end user. 

  

	 	5.4	It is agreed between the Parties that in case of termination of this Agreement in accordance with Article 3.2 of this Agreement, the Non-compete term is considered
to start on the fifth anniversary of the Effective Date irrespective any manufacturing and/or supply of Kit, Set or Final Product extending the fifth anniversary of the Effective Date according to Article 3.3. 

  

	 	5.5	In the event that MIPI or MIPI licensee decide to withdraw from the manufacture, marketing and distribution of Final Product for whatever reason, EZN’s obligation
to non-compete shall cease. 

  

	6	DEVELOPMENT AND KIT/SET SUPPLY PHASE 

  

	 	6.1	The Development Phase shall (a) optimise the Process and establish the Scaled up Process for the cGMP manufacture of the Final Product, (b) provide for the
planning, design, construction, qualification and validation of the Provisional Facility, (c) provide for the planning, design, construction, qualification and validation of the Facility and (d) provide for the planning, design and
construction of IAEA compliant Type A packaging assembly for international transportation (Development Phase Projects). 

  

	 	6.2	Upon the Effective Date, EZN will prioritise the set up of a Provisional Facility and construction of transportation assembly needed for the initial Clinical Trial and
Compassionate Use demand of Final Product which technical and regulatory completion is anticipated within 3 to 6 months upon Effective Date. 

  

	 	6.3	The completion of the Development Phase Projects may be reasonably delayed to the extent that such activities are premised on the work or provision of data, information
or technology by the other Party which such other Party does not provide on a timely basis. Each Party will undertake commercially reasonable efforts in order to carry out their respective obligations and responsibilities with regards to the
timeline of the Project Plan attached hereto as Exhibit B (“Project Plan”). 

  

	 	6.4	The Parties acknowledge and agree that Exhibit B may be amended during the course of the Development Phase to accommodate unforeseen events and results beyond the
reasonable control of the Parties. All such changes to Exhibit B shall be made by written agreement of the Parties. 

  

	 	6.5	Progress of the Development Phase Projects will be reported by EZN via milestone reports and, upon request of MIPI, via regular conference calls at agreed preset times
and quarterly review meetings. Both Parties will appoint project managers for the purpose of reviewing the status of the project and to assess the fulfilment of milestones. 

  

	 	6.6	 Within thirty (30) days upon the Effective Date, MIPI will provide EZN free of charge with a reasonable minimum Kit inventory stock ensuring
compatibility with expected purchase volumes of Kits and Sets to be delivered for Clinical Trials and Compassionate Use until the start of the Initial Phase. MIPI undertakes to inform EZN, within fifteen (15) days upon the Effective Date at the
latest, of the storage conditions and

  

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handling requirements to enable EZN to take all appropriate measurements and precautions for a duly transfer of Kits from MIPI to EZN. MIPI acknowledges that for the validation of cooling
equipment for the Kit storage (refrigerators), EZN will need a lead time of at least eight (8) working days. 

  

	 	6.7	Prior to the first dispatch of a Kit and/or Set, MIPI and EZN will mutually determine and establish the process for packaging and distribution of the Kits and/
or Sets to the final destination. 

  

	 	6.8	For the ordering and shipment of the Kits and/or Sets the provisions of Article 11 shall apply accordingly. 

  

	 	6.9	In case the storage/shelf life of the Kits delivered by MIPI to EZN will pass before the Kits have been ordered by MIPI, MIPI will at its own expense be
responsible for the Kits’ redemption and disposal and adequate replacement deliveries. 

  

	 	6.10	Additional development activities outside the scope of this Agreement will be agreed upon and billed separately by the Parties. 

  

	7	TECHNOLOGY TRANSFER 

  

	 	7.1	It is understood between the Parties that time is of essence in this project and that delays due to slow transfer of MIPI Technology and/or EZN Technology must
be avoided. 

  

	 	7.2	The Parties undertake to use commercially best efforts to exchange all necessary Technology in a timely manner. MIPI and EZN will immediately upon the Effective
Date schedule for a mutual meeting at the Braunschweig facility during which the Parties will disclose and exchange all information necessary for a successful and timely completion of the Development Phase and the Set-up of the Facility. If
necessary, both Parties will, prior to the onsite meeting, exchange an agenda outlining the questions that should be addressed. It is agreed upon between the Parties that such a onsite meeting will take place within two (2) weeks following the
Effective Date. 

  

	 	7.3	If and to the extent necessary, MIPI shall duly transmit additional documentation and provide technical training and consulting on the Process. MIPI will provide
EZN within two (2) weeks following the Effective Date with the name and details of a contact person responsible for all questions and issues relating to technology transfer, documentation and training. 

  

	8	CONSTRUCTION OF FACILITY – FACILITY PROGRAM COST 

  

	 	8.1	Subject to successful completion of the relevant planning and design of the Facility Program to the satisfaction of MIPI, EZN shall conduct the Facility Program
at its site in Braunschweig, Germany to carry out the manufacture of Final Product. EZN will use its commercially reasonable best efforts to complete the Facility Program in accordance with the Project Plan attached herewith as Exhibit B.
Exhibit B may only be modified as agreed in writing by the Parties. 

  

	 	8.2	 The actual capital cost of the Facility Program has been calculated on a time and materials basis. The budgeted capital cost for performance of
the Facility Program by EZN is estimated at the Effective Date to be ******,

  
  
 *Confidential Treatment
Requested* 
  

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inclusive of contingency and EZN administration fees. Any cost in excess of the estimated budgeted capital cost shall be subject to the prior written authorization of MIPI.

  

	9	ASSET OWNERSHIP AND ENVIRONMENTAL INDEMNITY OF FACILITY 

  

	 	9.1	EZN will purchase or manufacture, on behalf of MIPI, the Hot Cell(s) and Equipment, which will be installed in the Facility as described in the Project Plan (Exhibit
B). Upon completion of the purchase or manufacture of the Hot Cell(s) and Equipment for the Facility, a warranty bill of sale in a form reasonably acceptable to MIPI, shall be executed and delivered to MIPI transferring full title to such Hot
Cell(s) and Equipment dedicated to MIPI’s requirements free and clear of all liens, claims, or encumbrances. Subject to MIPI’s obligations to transfer ownership of the Hot Cell(s) and Equipment to EZN under circumstances as set forth in
this Agreement, MIPI shall at all times hold all right, title and interest in the Hot Cell(s) and Equipment; provided, however, that during the term of this Agreement, use thereof shall exclusively be granted to EZN for the purposes of producing
Final Product at the Braunschweig site. 

  

	 	9.2	EZN represents and warrants that during the term of this Agreement the Hot Cell(s) and Equipment shall be used for the purpose of producing Final Product only.

  

	 	9.3	In partial consideration of the services to be performed hereunder by EZN and in consideration of the payment of ******, the sufficiency of which is hereby
acknowledged, on the earlier of the expiration or termination of this Agreement by MIPI (for whatever reason other than the default of EZN), MIPI agrees, at EZN’s option, to transfer all of MIPI right, title and interest in and to the Hot
Cell(s) and Equipment to EZN. 

  

	 	9.4	Upon expiration or termination of this Agreement, the Hot Cell(s) and Equipment have to be decontaminated and decommissioned in accordance with the applicable
laws and regulations. Decontamination and decommissioning shall be the financial responsibility of MIPI unless agreed otherwise in accordance with this Agreement. At the time of commissioning of the Facility, MIPI agrees to furnish to EZN a lump sum
deposit in the amount of ******. This amount shall be deposited by MIPI into a German Escrow Account in the name of EZN issued by a reputable bank or financial institution with a rating reasonably satisfactory to EZN (the “Escrow
Account”). A copy of proof of deposit is to be provided to EZN within thirty (30) days at the latest following commissioning of the Facility. Failure of MIPI to deposit said amount or proof the deposit shall be a material breach and as
such reason for termination of this Agreement in accordance with Article 3.4 of this Agreement. 

  

	 	9.5	If EZN does not exercise its option, or fails to be allowed to exercise the option due to EZN’s default under this Agreement, to own the Hot Cell(s) and the
Equipment, then upon expiration or termination of this Agreement, the funds established by MIPI in the Escrow Account shall be made available to EZN for decontamination and decommissioning of the Hot Cell(s) and any other Equipment used for
manufacture of Final Product, prior to their removal by MIPI from the Braunschweig site, in accordance with this Agreement. Decontamination, decommissioning and removal of the Hot Cell(s) and Equipment shall take place within six (6) months
following expiration or termination of this Agreement. 

  
  
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	 	9.6	If EZN exercises the option to own the Hot Cell(s) and the Equipment, then the funds held in the Escrow Account shall be made available to EZN for the purpose of
decontamination and decommissioning of the Hot Cell(s) ad any other Equipment or forming a reserve for future decommissioning. If the Escrow Account has been made available to EZN, then MIPI shall have no further obligations under this Article.

  

	 	9.7	Refund to Decommissioning Bond. If EZN’s revenues for Kits, Sets and Final Product (excluding shipment and packaging costs) aggregated until the fourth
anniversary of completion of the high throughput facility exceed ****** then the MIPI funds held in the EZN Escrow Account shall be reduced by ******. If EZN’s revenues for Kits, Sets and Final Product (excluding shipment and packaging costs)
aggregated until the fourth anniversary of completion of the high throughput facility exceed ****** then the MIPI funds held in the EZN Escrow Account shall completely convert back to MIPI in the form that MIPI cancels the Escrow Account.

  

	 	9.8	Except as may be provided in accordance with this Agreement, EZN shall during the term of this Agreement not use or permit any Third Party to use the Hot Cell(s)
and Equipment. 

  

	 	9.9	Until MIPI has transferred ownership of the Hot Cell(s) and Equipment as set out in this Agreement (the “Transfer Date”), EZN is granted a security
interest (Sicherungsübereignung) in and to the Hot Cell(s) and Equipment. The security interest in the Hot Cell(s) and Equipment shall be perfected by possession of the Hot Cell(s) by EZN and shall be effective as of the date of commencement of
installation of such Hot Cell(s) and Equipment and shall serve as collateral for the obligations and responsibilities of MIPI under this Agreement. MIPI shall execute all documents reasonably required to provide the above mentioned security interest
in and to the Hot Cell(s) and Equipment to EZN. 

  

	 	9.10	It is understood by the Parties that ownership of the Provisional Facility used during the Interims Phase will be and remain with EZN including the
responsibility for decontamination and decommission. 

  

	10	MANUFACTURE AND SUPPLY OF FINAL PRODUCT 

  

	 	10.1	EZN agrees to 

 (a)
manufacture all Y-90 for the Final Product, 
 (b) produce the Final Product, 
 (c) test and release the Final Product, 
 (d) store Final Product until delivery, and 
 (e) deliver Final Product to any
person or entity as identified to EZN by MIPI, 
 in each case in accordance with 
 (i) the relevant Specifications attached hereto as Exhibit C (the “Specifications”), 
  
  
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 13 
  

 (ii) the terms and conditions of the Quality Agreement attached hereto as Exhibit D (the
“Quality Agreement”). The Parties agree to finalize and execute the Quality Agreement within 30 days of the Effective Date. 
 (iii) all applicable laws, including, without limitation, health, safety and environmental laws, 
 (iv) the terms and
conditions of this Agreement. 
  

	 	10.2	EZN shall promptly inform MIPI of decisions about, or changes to, the facilities used in the manufacturing of the Final Product. 

  

	 	10.3	EZN shall not make changes to Process and/or Scaled up Process without MIPI’s prior written consent and otherwise as provided in the Quality Agreement.

  

	 	10.4	After the Facility is installed, EZN shall maintain such Facility, Hot Cell(s) and Equipment in satisfactory operating condition, as required to enable EZN to
manufacture Final Product to Specification in accordance with the Scaled up Process and all other applicable laws, regulations, rules or orders. Routine repairs, preventive maintenance and service contracts for the Facility, Hot Cell(s) and
Equipment shall be arranged by EZN. Routine repairs are repairs to a given asset entailing expenditures of the lesser of ******. 

  

	 	10.5	In the event of any conflict between or change of the applicable laws, regulations, rules or orders, EZN will notify MIPI of such conflict and the Parties shall
act in good faith to resolve such conflict or change. Any repair, change, scale up or remodelling of the facility, Hot Cell(s) and/or equipment that are not due to normal tear and wear and/or necessary under routine repairs and preventive
maintenance shall be the sole responsibility of MIPI. If requested, EZN will provide MIPI with a cost estimate on such activities. 

  

	11	ORDERS AND SHIPMENTS 

  

	 	11.1	During the term of this Agreement, MIPI or MIPI’s licensee will forward orders to EZN by facsimile (or other suitable means) at least ten (10) Business
Days in advance of intended shipment. This lead time might be shorter in case of Kit orders only or might be longer in case of intended delivery of Set and/or Final Product outside the EU. Orders shall include at least the required quantities,
identity of the recipient, requested delivery dates and destination. Delivery as directed by MIPI or MIPI’s licensee shall be ex-Works EZN’s facility in Braunschweig, Germany. Risk and title for the Set and/or Final Product shall pass to
MIPI or MIPI’s licensee at point of delivery to the respective carrier. 

  

	 	11.2	Prior to the first shipment to any Third Party site, MIPI or its licensee shall obtain and forward to EZN from such Third Party its license evidencing proper
legal authority for the receipt and possession of the Kit, Set and/or Final Product (Umgangsgenehmigung). If and to the extent necessary, MIPI or MIPI’s licensee shall further obtain all approvals, licenses and permits required to import Kit,
Sets and/or Final Product into territories directed by MIPI or its licensee. 

  
  
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 14 
  

	 	11.3	EZN shall deliver Kit, Set and/or Final Product in accordance with the quantities and requested delivery date(s) specified in the relevant order. EZN will pack
the Kit, Set and/or Final Product for shipment and storage in accordance with the applicable Specifications given by MIPI. 

  

	 	11.4	If requested by MIPI or MIPI licensee, EZN shall make shipping arrangements with carriers from the ex-Works point to the delivery site. All transportation and
packaging costs incurred to deliver Kit, Set and/or Final Product ordered by MIPI or MIPI licensee will be separately charged to and borne by MIPI. 

  

	 	11.5	If either Party or its designee discovers that a Batch and/or Dose Vial does not meet the Specifications, then the discovering Party shall promptly communicate
in writing with the other Party to determine a mutually agreed course of action. With respect to any such Batch and/or Dose Vial which do not meet Specifications as a result of shortcomings in process or parameters under the direct control of EZN,
then EZN will promptly replace such Batch and/or Dose Vial at no additional cost to MIPI. 

  

	12	PAYMENTS 

  

	 	12.1	The purchase prices for the Y-90, Final Product and Kit handling shall be as set forth in Exhibit E (“Product Price Table”). 

 

	 	12.2	Payment for the development and set-up of the Provisional Facility and Facility shall be as set forth in Exhibit F (“Milestone Schedule”). Upon
completion of a milestone calling for payment, EZN shall invoice MIPI. 

  

	 	12.3	Transportation costs will be charged separately at rates to be calculated individually for each country in the Territory. Upon request of MIPI, EZN will forward
a cost estimate of transportation costs to MIPI prior to delivery into the respective country. 

  

	 	12.4	Prices for the still to be designed and manufactured IAEA compliant Type A packaging devices for international transportation will be mutually agreed upon
between the Parties following the first design and cost estimates provided by EZN to MIPI during the Development Phase. It is agreed that EZN will provide MIPI with a price for a separate shielded packaging container and MIPI will order and acquire,
from EZN, prior to the start of the Interims phase the amount of shielded packaging containers MIPI considers reasonable to meet its demands. Any orders shall be forwarded to EZN with appropriate lead time. In case MIPI will place no orders with
EZN, MIPI will reimburse EZN for the costs incurred regarding the planning, design and price calculations on man-hours basis. 

  

	 	12.5	Except as otherwise provided herein, all invoices shall be paid within forty-five (45) days upon date of invoice. All payments, costs and prices included in this
Agreement are exclusive VAT and, unless otherwise specified, shall be in Euros. 

  

	 	12.6	 For the term of this Agreement, EZN shall, additionally, be entitled to monthly payments of ******. All Monthly Payments shall be paid in
advance, on the first day of each calendar month adding

  
  
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the legally applicable VAT, currently nineteen percent (19%). In case this Agreement commences or expires later than the first day of a calendar month, then the monthly payments shall be
calculated on a pro rata basis assuming that a month consists of thirty (30) days. 

  

	 	12.7	It is understood that the costs of operating the Facility can be suddenly increased as a result of direct or indirect Regulatory changes -such as via the costs
of conditioning and disposal of radioactive arisings. Should such significant changes arise at any time after the Effective Date then EZN shall immediately inform MIPI and the Parties shall agree a price increase based upon EZN’s actual rise in
costs. 

  

	13	LICENSES, PATENTS AND TECHNOLOGY 

  

	 	13.1	MIPI Technology shall be and remain the exclusive property of MIPI. MIPI hereby grants to EZN a non-exclusive, non-transferable, non-sublicensable, royalty free
license during the term of this Agreement to use the MIPI Technology owned by MIPI for the sole purpose of assisting EZN in carrying out its obligations set out in this Agreement. To the extent the MIPI Technology includes third party technology
exclusively controlled but not actually owned by MIPI (the “****** Technology”) exclusive of the Novartis patents which are sublicensed hereunder, then no sublicense rights as to the ****** Technology is granted to EZN but MIPI covenants
that EZN shall have the right to use any Intellectual Property Rights in such ****** Technology in the performance of this Agreement, and MIPI will not assert any Intellectual Property Rights in such ****** Technology against EZN while EZN is an
authorized manufacturer. MIPI shall hold EZN harmless of all damages and costs as a result of ****** asserting that the ****** Technology is infringed by the manufacture, marketing or distribution of Kit, Set or Final Product.

  

	 	13.2	EZN Technology shall be and remain the exclusive property of EZN. EZN hereby grants to MIPI a non-exclusive, non-transferable, non-sublicensable royalty free
license during the term of this Agreement to use EZN Technology for the sole purpose of assisting MIPI in carrying out its obligations set out in this Agreement. 

  

	 	13.3	All Intellectual Property Rights in any improvements conceived, written, created, developed or first reduced to practice in and related to the performance of
this Agreement that relates to edotreotide and/or all Intellectual Property Rights in the Scaled up Process (the “Joint Improvements”) will be jointly owned by MIPI and EZN, irrespective of who conceives, writes, creates, develops or first
reduces to practice any such Joint Improvements, and both MIPI and EZN shall, unless otherwise stated in this clause, have free use of such Joint Improvements during the Term of this Agreement or, if applicable, for as long as EZN is authorized to
manufacture hereunder. Notwithstanding the above, neither Party shall during the term of this Agreement utilize such Joint Improvements in conjunction with any Third Party unless otherwise agreed upon between the Parties. Upon expiration or
termination of this Agreement the Parties agree to the following restrictions on the use of Joint Improvements: MIPI shall only utilize any Joint Improvements in connection with edotreotide and MIPI’s other proprietary compounds publicly known
as of the effective date hereof; EZN shall not utilize any Joint Improvements in connection with edotreotide other than with Novartis or any other Third Party being duly authorized by MIPI or Novartis to use edotreotide. 

  
  
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	 	13.4	In case of termination of this Agreement by MIPI according to 3.2 or in case of termination of this Agreement by EZN due to a default of MIPI according to
Article 3.5, MIPI shall pay to EZN a lump sum payment of ****** for the assignment of EZN’s Intellectual Property Rights in all Joint Improvements to MIPI. The payment shall be due at the latest within thirty (30) days following receipt of
the respective termination notice. With due payment of the lump sum, EZN assigns and transfers all its Intellectual Property Rights in the Joint Improvements to MIPI who then shall be the sole owner of all Intellectual Property Rights in the Joint
Improvements. For the avoidance of doubt and notwithstanding the full ownership of MIPI in all Intellectual Property Rights in the Joint Improvements under this paragraph, EZN shall have the right to freely use the Intellectual Property in the Joint
Improvements for as long as EZN is authorized to manufacture. 

  

	 	13.5	EZN will use best efforts to preserve any Intellectual Property Rights arising out of the performance of the Agreement and to perfect rights in any Intellectual
Property Rights to which MIPI can possibly be entitled, have a right to or interest in. It is acknowledged by the Parties that any such obligations will be subject to and be limited by the copyright and intellectual property rights of Germany, in
particular the Employee’s Inventions Act (Arbeitnehmererfindungsgesetz) for claims to inventions of employees arising out of the performance of the Agreement. 

  

	14	REGULATORY MATTERS 

  

	 	14.1	It shall be the responsibility of MIPI or its licensee to file, obtain and maintain such licenses, registrations, listings, authorizations and approvals as the
EMEA or any other competent Regulatory Authority may require to enable the application, marketing and distribution of the Kit, the Set and Final Product. 

  

	 	14.2	EZN shall be responsible for obtaining and maintaining all necessary facility licenses, registrations, authorizations and approvals for the manufacture,
handling, storage, packaging and release of the Sets and Final Product in Germany. 

  

	 	14.3	Each Party shall promptly notify the other Party in case it learns of new regulatory requirements relevant to the manufacture, marketing and/or distribution of
Set and/or Final Product. In such case, the Parties will use mutual commercially best efforts to comply with such requirements. 

  

	 	14.4	MIPI shall, as mutually agreed in the Quality Agreement (Exhibit D) be entitled to access to the Facility for the purpose of observing any Process or to audit
the Facility for compliance with MIPI’s Specifications and other regulatory requirements. It is understood between the Parties that such right shall not extend to any licensee, designee or any other Third Party unless EZN and any such licensee,
designee or other Third Party have entered into a separate Agreement providing for terms and conditions including but not limited to Disclosure, and Confidentiality, satisfactory to EZN. 

  

	 	14.5	In case of discrepancies between this Agreement and the Quality Agreement (Exhibit D), that relate to regulatory matters, the Quality Agreement shall prevail.

  
  
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	15	DATA MANAGEMENT 

 Either
Party shall retain all essential documents or data for as long as required by the applicable laws and guidelines. Essential documents shall be archived in a way that ensures that they are readily available, upon request, to the competent
authorities. The Parties shall install security measures that prevent unauthorized access to archives. 
  

	16	DISCLOSURE OF TECHNOLOGY 

 Except as otherwise set out in this Agreement, it is agreed that disclosure of data, information or technology by MIPI or EZN to the other Party shall not, except to the extent granted herein, constitute any grant, option or license under
any patent, technology or other rights held by MIPI or EZN. 
  

	17	RIGHT OF FIRST REFUSAL 

  

	 	17.1	If MIPI has the intention to propose the initiation of a new manufacturing site in the Territory to a Third Party, EZN shall have a right of first refusal for a
new contract with MIPI as facility set-up and contract manufacturing partner. 

  

	 	17.2	In the event MIPI desires to accept a bona fide Third Party offer for the initiation of a new manufacturing site in the Territory, MIPI shall promptly deliver to
EZN written notice of the intended disposition (“Disposition Notice”) and the basic terms and conditions thereof. 

  

	 	17.3	EZN shall, for a period of sixty (60) days following receipt of the Disposition Notice, have the right to accept the facility set-up and manufacturing upon
the same terms and conditions specified in the Disposition Notice. Such right shall be exercisable by written notice (the “Exercise Notice”) delivered to MIPI prior to the expiration of the sixty days exercise period. If such right is
exercised, then MIPI and EZN shall enter into a new Facility Set-up and Manufacturing Agreement upon the terms set forth in the Disposition Notice not more than thirty (30) days after the delivery of the Exercise Notice.

  

	 	17.4	In the event the Exercise Notice is not received by MIPI within sixty (60) days of the Disposition Notice, EZN shall be deemed to have waived its right of
first refusal. 

  

	18	RIGHT OF NEGOTIATION 

  

	 	18.1	If MIPI has the intention to propose the initiation of a new manufacturing site in any other geographic area to a Third Party, then MIPI undertakes to inform EZN
immediately of such intention and EZN shall have a right of negotiation with MIPI as facility set-up and contract manufacturing partner. 

  

	 	18.2	If MIPI or its licensee has the intention to offer radiochemical and radiopharmaceutical synthesis labelling and dispensing technology devices to any treatment
sites purchasing Kit, Set or Final Product, MIPI or its licensee will recommend EZN or its respective affiliates as supplier for such devices. 

  

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	19	CONFIDENTIALITY 

  

	 	19.1	During the term of this Agreement and for a period of five (5) years thereafter, each Party hereto shall maintain in confidence all technology including
MIPI Technology, EZN Technology, Jointly Owned Arising IP and know-how, data, processes, methods, techniques, formulas, test data and other information disclosed to such Party by the other Party whether or not it is identified as “Confidential
Information” by the disclosing Party (collectively “Confidential Information”). Each Party shall necessarily be free to disclose its own Technology under the terms of its own established process for the disclosure of its Confidential
Information. If either Party needs to disclose Confidential Information pertaining to the manufacturing process covered by this Agreement to a Third Party then this shall be accommodated by the creation of a three way Confidential Information
disclosure agreement. This obligation of confidentiality shall not apply to the extent that it can be established by the Party in receipt of such Confidential Information, that the information: 

  

	 	i)	was already known to the receiving Party at the time of disclosure; 

  

	 	ii)	was generally available to the public or otherwise part of the public domain at the time of its disclosure; 

  

	 	iii)	became generally available to the public or otherwise part of the public domain after its disclosure to the receiving Party through no act or omission of the receiving
Party; 

  

	 	iv)	was disclosed to the receiving Party by a Third Party who had no obligation to restrict disclosure of such information; or 

  

	 	v)	was independently developed by the receiving Party without any use of Confidential Information of the disclosing Party. 

 Notwithstanding the foregoing, MIPI and EZN may both disclose Confidential Information to an Affiliate or permitted assign provided that the
Affiliate or permitted assign is bound by confidentiality to the same extent as MIPI and EZN hereunder. The Party disclosing Confidential Information to such Affiliate or permitted assign shall be liable for any unauthorized use or disclosure of the
Confidential Information by the Affiliate or permitted assign. 
  

	20	NOTICES 

 All notices and
other communications hereunder shall be sent with reference to the contract name and number: 
  

			
	To MIPI:	  	 
		
	Name:	  	Paul Granger, General Counsel
		
	Address:	  	Molecular Insight Pharmaceuticals, Inc.
		
		  	160 Second Street
		
		  	Cambridge, MA 02142 USA
		
	E-mail address:	  	pgranger@molecularinsight.com
		
	Phone:	  	617-492-5554
		
	Fax:	  	617-871-6983

  

 19 
  

			
	To EZN:	  	
		
	Name:	  	Dr. André Hess
		
	Address:	  	Robert-Roessle-Str.10
		
	E-mail address:	  	andre.hess@ezag.de
		
	Phone:	  	+49 30 941084 141
		
	Fax:	  	+49 30 941084 160

  

	21	FORCE MAJEURE 

 Neither
party shall be liable to the other for failure to perform or delay in performing its obligations under this Agreement by virtue of the occurrence of an event of Force Majeure. In the event such Force Majeure affecting either party continues for more
than ninety (90) days the party not subject of the Force Majeure may, upon thirty (30) days written notice terminate this Agreement. In the event such Force Majeure affecting either party continues for more than six (6) months either
party, may upon thirty (30) days written notice terminate this Agreement. “Force Majeure” shall mean an occurrence arising from unforeseen circumstances beyond a party’s reasonable control which prevents, delays or interferes
with the performance by such party of any of its obligations hereunder including without limitation an event that occurs by reason of any act of God, flood, power failure, fire, explosion, casualty or accident, failure of suppliers or usual
suppliers to have available for supply sufficient raw materials, equipment or machinery, or war, revolution, civil commotion, acts of public enemies, act of terrorism, blockage or embargo, government acts or regulations, prohibitions or
interventions, interruption of or delay in transportation, strike or labor disruption. In the event of Force Majeure, the party affected shall promptly notify the other and shall exert commercially reasonable efforts to eliminate, cure or overcome
such event and to resume performance of its obligations. 
  

	22	BACK-UP 

 Upon completion
of the high throughput facility at the latest, the Parties will enter into negotiations regarding the set-up of a back-up manufacturing facility for the unlikely case of unforeseen manufacturing stops or interruptions at EZN’s Braunschweig
facility. MIPI and EZN will act in good faith to negotiate, complete and enter into a definite Back-up Facility Agreement. 
 EZN
undertakes to enter into back-up cooperations to assure for a secondary supply of Yttrium 90 for the unlikely case of Y-90 shortages at the Braunschweig facility. 
  

 20 
  

	23	INDEMNIFICATION AND INSURANCES 

  

	 	23.1	MIPI Insurance 

 From the
Effective Date of this Agreement and for as long as MIPI continues to make, sell, licence or otherwise commercialize the Kit, Set and/or Final Product, MIPI shall maintain in force and effect all insurance normally associated with the activities
contemplated under this Agreement and in doing business generally, including but not limited to Third Party insurance, product liability insurance, general liability, business interruption, property and casualty insurance. Such insurances shall be
issued by a reputable insurance company with a rating satisfactory to EZN. The product liability insurance shall (a) insure against damages resulting from or caused by (or claimed to be resulting from or caused by) the operation or use of any
Kit, Set and/or Final Product manufactured, marketed or distributed by MIPI, and (b) shall have coverage limits of not less than ****** per occurrence and ****** in the annual aggregate. Upon request of EZN, MIPI will deliver to EZN copies of
all policies effecting such insurance with a certificate (in English) of MIPIs insurance broker stating that all premiums then due have been paid. 
 The sponsor of the Clinical Trial shall establish separate insurance cover for the risks associated with the period of clinical trials and compassionate use as required by the pharmaceutical laws of the
countries in the Territory. From the start of the commercial phase of this Agreement and for as long as MIPI or its licensee is marketing and distributing the Final Product under its name, MIPI or its licensee shall establish separate insurance
cover for the risks associated with the administration of a medicinal product intended for human use as provided for in §§ 94, 88 AMG for the marketing and distribution in Germany or any comparable insurance required for the marketing and
distribution in other countries in the Territory. MIPI will be liable towards EZN for any failure in establishing and duly maintaining such insurances. 
  

	 	23.2	EZN INSURANCE 

 From the
Effective Date of this Agreement and for as long as MIPI continues to make, sell, licence or otherwise commercialize the Kit, Set and/or Final Product with the participation of EZN, EZN agrees to maintain in force and effect all insurance normally
associated with the activities contemplated under this Agreement and in doing business generally, including but not limited to insurances covering loss or damage to: 
  

	 	(i)	the Facility; 

  

	 	(ii)	any asset owned by MIPI in the possession of EZN under this Agreement; 

  

	 	(iii)	EZN’s facility located at Braunschweig, Germany. 

 In addition, from the Effective Date of this Agreement and for as long as EZN continues to make and sell to MIPI the Y-90, Set and/or Final Product, EZN shall maintain in force and effect product
liability insurance issued by a reputable insurance company with a rating reasonably satisfactory to MIPI. Such insurance shall (a) include coverage insuring against Damages resulting from or caused by (or claimed to be resulting from or caused
by) the operation or use of the Y-90, Set and/or Final Product manufactured,

  

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assembled and dispatched by EZN, and (b) shall have coverage limits of not less than ****** per occurrence and ****** in the annual aggregate. Upon request of MIPI, EZN will deliver to MIPI
copies of all policies affecting such insurance with a certificate (in English) of EZN’s insurance broker stating that all premiums then due have been paid. 
 Each Party will notify the other without delay in the event that the cover is (or is to be) cancelled or made subject to a material change. The insurance coverages hereunder shall limit the liabilities of
the Parties imposed by this Agreement. 
  

	 	23.3	WARRANTY/LIABILITY EZN 

 EZN
shall not have any other obligations towards MIPI than those arising from the services described herein and shall therefore have no other liability towards MIPI than arising from default of such obligations. 
 In case of defects occurring during the performance of this Agreement, EZN is obligated to remedy such defects or to supply services or
products free from defects as set forth in Article 3 of this Agreement. MIPI shall not have the option to terminate the Agreement unless the removal of defects fails or does not take place as set forth in Article 3 of this Agreement. 
  

	 	23.4	WARRANTY/LIABILITY MIPI 

 MIPI
shall not have any other obligations towards EZN than those arising from the services described herein and shall therefore have no other liability towards EZN than arising from default of such obligations. 
 MIPI hereby warrants to EZN that all insurances necessary and appropriate for the performance of this Agreement have been issued and
coverage has been paid prior to the first supply. 
  

	 	23.5	INDEMNIFICATION BY MIPI 

 MIPI agrees to indemnify, defend and hold EZN and its Affiliates and their respective directors, officers, employees and agents, harmless from and against any damages, claims, liabilities and expenses (including, but not limited to,
reasonable attorney’s fees) resulting from any third party claims or suits (“General Claims Against EZN”) arising out of (a) MIPI’s, MIPI licensee’s or any other third party’s development, manufacture, use,
handling, shipping, marketing, sale, distribution or other disposition of or treatment with Kit, Set or Final Product (b) MIPI’s breach of any of its material obligations, warranties or representations hereunder, (c) MIPI’s
negligent acts or omissions or wilful misconduct, or (d) any failure of the Kit to meet applicable specification. Notwithstanding the foregoing, MIPI will not be required to indemnify, defend and hold EZN and its Affiliates and their respective
directors, officers, employees and agents harmless from and against any General Claims Against EZN to the extent that such claims arise out of (i) EZN’s breach of any of its obligations, warranties or representations hereunder;
(ii) EZN’s negligent acts or omissions or wilful misconduct; (iii) any failure of EZN to manufacture, handle, store, package and dispatch of Kit, Set or Final Product inconsistent with the Specifications, the Quality Agreement and the
terms and conditions of this Agreement. 
  
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	 	23.6	INDEMNIFICATION BY EZN 

 EZN agrees to indemnify, defend and hold MIPI and its Affiliates and their respective directors, officers, employees and agents, harmless from and against any damages, claims, liabilities and expenses (including, but not limited to,
reasonable attorney’s fees) resulting from any third party claims or suits (“General Claims Against MIPI”) arising out of (a) EZN’s failure to manufacture, handle, store, package and dispatch of Kit, Set or Final Product
inconsistent with the Specifications, the Quality Agreement and the terms and conditions of this Agreement (b) EZN’s breach of any of its material obligations, warranties or representations hereunder; or (c) EZN’s negligent acts
or omissions or wilful misconduct; Notwithstanding the foregoing, EZN will not be required to indemnify, defend and hold MIPI and its Affiliates and their respective directors, officers, employees and agents harmless from and against any General
Claims Against MIPI to the extent that such claims arise out of (i) MIPI’s breach of any of its obligations, warranties or representations hereunder; (ii) MIPI’s negligent acts or omissions or wilful misconduct; (iii) any
defect or failure of Kits to meet applicable specifications; (iv) MIPI’s, MIPI licensee’s or any other third party’s development, manufacture, use, handling, shipping, marketing, sale, distribution or other disposition of or
treatment with Kits, Sets, or Final Product or (v) MIPI’s or MIPI licensee’s incorrect information regarding Kit, Set and/or Final Product or failure of due disclosure to EZN of any risks regarding Kit, Set and/or Final Product.

  

	 	22.7	DISCLAIMER OF CONSEQUENTIAL DAMAGES 

 In no event shall either Party be liable to the other for indirect, contingent, incidental, special or consequential damages, including, but not limited to, any claim for damages based on lost profits,
cost of capital, loss of business opportunity or loss of time. 
  

	24	EXPORT CONTROL 

  

	 	24.1	The Parties understand that materials and information resulting from the performance of this Agreement may be subject to export control laws and, except as
otherwise provided in a separate Technical Agreement, MIPI and/or MIPI’s licensee will be responsible and liable for the compliance with such laws. 

  

	 	24.2	MIPI understands that the export of Kit, Set and/or Final Product will be conditional upon the issuance of a customs number for and the appointment of a Person
Responsible for Export Control (Ausfuhrverantwortlicher) by MIPI or MIPI’s licensee as the party being responsible for the marketing and distribution of the Kit, Set and Final Product to the final destination. 

  

 23 
  

	25	GOVERNING LAW 

  

	 	25.1	This Agreement shall be construed in accordance with the laws of Germany. The Convention on the International Sale of Goods and the Law transforming the CISG
into national law shall not apply. 

  

	 	25.2	All disputes arising out of or affecting this Agreement which cannot be resolved amicably shall be submitted to the exclusive jurisdiction of the courts of Basel
Stadt, Switzerland. 

  

	26	GENERAL 

  

	 	26.1	This Agreement, including the Schedules hereto which are incorporated herein, constitute the entire agreement of the Parties with respect to the subject matter
hereof and supersedes all proposals, oral or written, and all negotiations, conversations, or discussions. This Agreement may not be modified, amended, rescinded, cancelled or waived, in whole or in part, except by written amendment signed by both
Parties hereto. 

  

	 	26.2	The Parties agree that, except as may otherwise be required by applicable laws, regulations, rules or orders, no information concerning this Agreement and the
transactions contemplated herein shall be made public by either Party without the prior written consent of the other, which consent shall not be unreasonably withheld or delayed. In the event either Party decides to issue a press release announcing
the execution of this Agreement, it shall not do so without the prior written approval of the other Party, which approval shall not be unreasonably withheld or delayed. A copy of any proposed press release shall be provided to the other Party at
least three (3) business days prior to any proposed dissemination. The Parties agree that they will use reasonable efforts to coordinate the initial announcement or press release relating to the existence of this Agreement.

  

	 	26.3	This Agreement shall endure to the benefit of and shall be binding upon the heirs, executors, administrators, successors and permitted assigns of the Parties.
Neither MIPI nor EZN shall assign any portion of this Agreement without the written approval of the other Party, which approval shall not be unreasonably withheld or delayed. However, either Party has the right, without the consent of the other
Party, to assign this agreement to an Affiliate, but in such case shall remain liable to the other Party for the performance of its Affiliate and shall indemnify the other Party and hold it harmless from and against all costs, claims, judgements and
other expenses arising from the Affiliate’s performance or failure of performance. 

 EZN shall be entitled
without prior written consent of MIPI to subcontract to third parties parts of its obligations set out in this Agreement in order to carry out its obligations hereunder; provided, however, that such subcontractor shall agree to be bound by all of
the relevant provisions hereof. 
  

	 	26.4	This Agreement shall be carried out in compliance with all relevant laws, bylaws, rules, regulations and orders of government or manifestations thereof of
Germany and the European Union. 

  

 24 
  

	 	26.5	Failure by either Party to enforce at any time any of the provisions of this Agreement shall not be construed as a waiver of its rights hereunder. Any waiver of a
breach of any provision hereof shall not affect either Party’s rights in the event of any additional breach. 

  

	 	26.6	If any provision or term of this Agreement is found unenforceable under any of the laws or regulations applicable thereto, all other conditions and provisions of this
Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the Agreement or transactions contemplated herein are not affected in any manner materially adverse to any Party. Upon such determination that
any term or other provision is invalid, illegal or incapable of being enforced, the Parties hereto shall negotiate in good faith to modify this Agreement to effect the original intent of the Parties as closely as possible in a mutually acceptable
manner, in order that the transaction contemplated hereby be consummated as originally contemplated to the greatest extent possible. 

 Berlin, this 20th day of October 2009 
  

					
	 /s/ Charles Abdalian
	 		 	 /s/ Andre Hess & Andreas Eckert

	MIPI 	 		 	EZN

 EXHIBIT A – LISTING OF COUNTRIES IN TERRITORY

 EXHIBIT B – PROJECT PLAN 
 EXHIBIT C – SPECIFICATIONS 
 EXHIBIT D – QUALITY AGREEMENT 
 EXHIBIT E – PRODUCT PRICE TABLE 
 EXHIBIT F – MILESTONE SCHEDULE 
  

 25 
  

 Exhibit A—Listing of Countries in Territory 
  

 26 

																					
	European     Union    	  	1	  	Albania	  	 	  	European    
Free     Trade    
Assoc.    
	  	35	  	Lichtenstein	  	 	  	 Middle East    
 &    
 Arabic States    
	  	62	  	Mauritania
	  	2	  	Andorra	  		  	  	36	  	Norway	  		  	  	63	  	Morocco
	  	3	  	Austria	  		  	Eastern    
Europe    	  	37	  	Belarus	  		  	  	64	  	Oman
	  	4	  	Belgium	  		  	  	N/A	  	Estonia*	  		  	  	65	  	Qatar
	  	5	  	Boznia and Herzegovina	  		  	  	N/A	  	Latvia*	  		  	  	66	  	Saudi Arabia
	  	6	  	Bulgaria	  		  	  	N/A	  	Lithuania*	  		  	  	  
	  	7	  	Croatia	  		  	  	38	  	Moldova	  		  	  	67	  	Somalia
	  	8	  	Cyprus	  		  	  	39	  	Ukraine	  		  	  	68	  	Sudan
	  	9	  	Czech Republic	  		  	Russia    
 & CIS    
	  	40	  	Russia	  		  	  	69	  	Syria
	  	10	  	Denmark	  		  	  	41	  	Armenia	  		  	  	70	  	Tunisia
	  	11	  	Estonia	  		  	  	42	  	Azerbaijan	  		  	  	71	  	UAE
	  	12	  	Finland	  		  	  	N/A	  	Belarus*	  		  	  	72	  	Western Sahara
	  	13	  	France	  		  	  	43	  	Georgia	  		  	  	 	  	 
	  	14	  	Germany	  		  	  	44	  	Kazakhstan	  		  		  	73	  	Yemen
	  	15	  	Greece	  		  	  	45	  	Krygyzstan	  		  	Turkey    	  	74	  	Turkey
	  	16	  	Hungary	  		  	  	N/A	  	Moldova*	  		  	 North    
 Africa    
	  	N/A	  	Algeria*
	  	17	  	Ireland	  		  	  	46	  	Tajikistan	  		  	  	N/A	  	Egypt*
	  	18	  	Italy	  		  	  	47	  	Turkmenistan	  		  	  	N/A	  	Libya*
	  	19	  	Latvia	  		  	  	N/A	  	Ukraine*	  		  	  	N/A	  	Morocco*
	  	20	  	Lithuania	  		  	  	48	  	Uzbekistan	  		  	  	N/A	  	Sudan*
	  	21	  	Luxembourg	  		  	Middle    
 East    
 &    
 Arabic    
States    
	  	49	  	Algeria	  		  	  	N/A	  	Tunisia*
	  	22	  	Malta	  		  	  	50	  	Bahrain	  		  	  	N/A	  	Western Sahara*
	  	23	  	Netherlands	  		  	  	51	  	Chad	  		  	 Europe:    
 Non-Sovereign    
 Locations    
	  	75	  	Åland
	  	24	  	Poland	  		  	  	52	  	Comoros	  		  	  	76	  	Akrotiri and Dhekelia
	  	25	  	Portugal	  		  	  	53	  	Dijibouti	  		  	  	77	  	Faroe Islands
	  	26	  	Romania	  		  	  	54	  	Egypt	  		  	  	78	  	Gibraltar
	  	27	  	Slovakia	  		  	  	55	  	Eritrea	  		  	  	79	  	Guernsey
	  	28	  	Slovenia	  		  	  	56	  	Iran	  		  	  	80	  	Isle of Man
	  	29	  	Spain	  		  	  	  	  	  	  	81	  	Jersey
	  	30	  	Sweden	  		  	  	57	  	Iraq	  		  	 Europe:    
 Partially     Recognized     Locations    
	  	82	  	Abkhazia
	  	31	  	United Kingdom	  		  	  	58	  	Jordan	  		  	  	83	  	Kosovo
	  	32	  	Vatican City	  		  	  	59	  	Kuwait	  		  	  	84	  	Northern Cyprus
	 European Free
 Trade Assoc.
	  	33	  	Switzerland	  		  	  	60	  	Lebanon	  		  	  	85	  	South Ossetia
	  	34	  	Iceland	  		  	  	61	  	Libya	  		  	Europe:     Unrecognized    
Locations    	  	86	  	Nagorno-Karabakh
	  	  	  		  	 	  	  	  		  	  	87	  	Transnistria

  

	*	Countries are represented twice in two different territories, only counted once 

  

 27 

 EXHIBIT B – PROJECT PLAN 
  

 28 

 

 

  

 29 

 EXHIBIT C - SPECIFICATIONS 
  

 30 

 

 

  

 31 

 EXHIBIT D – QUALITY AGREEMENT 
  

 32 

 CHANGE CONTROL HISTORY 
 TO THE 
 QUALITY (GMP AND GDP) AGREEMENT 
 between 
 MIPI

 and 
 EZN 
 [Not a part of the Agreement] 
  

					
	 Rev.
	  	 Change
	  	 Date

		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	

							
	Date:	 	  
	 		 	
				
	Number of pages:	 	  
	 		 	
				
	Copies:	 	  
	 		 	
				
	Name and number of Appendices:	 	  
	 		 	
		 	  
	 		 	
		 	  
	 		 	
		 	  
	 		 	

 QUALITY (GMP and GDP) AGREEMENT 
 between 
 Eckert & Ziegler Nuclitec GmbH

 Gieselweg 1 
 38110 Braunschweig 
 Germany 
 - hereinafter referred to as EZN - 
 and 
 Molecular Insight Pharmaceuticals, Inc 
 160 Second Street 
 Cambridge, MA 02142 
 USA 
 - hereinafter referred to as MIPI - 

 TABLE OF CONTENTS 
  

					
	1	  	LEGAL REQUIREMENTS	  	3
			
	2	  	ACTIVE PHARMACEUTICAL INGREDIENTS, EXCIPIENTS AND PACKAGING MATERIALS	  	4
			
	3	  	MANUFACTURE	  	4
			
	4	  	QUALITY CONTROLS DURING AND AFTER MANUFACTURE	  	4
			
	5	  	REFERENCE AND RETENTION SAMPLES	  	5
			
	6	  	DOCUMENTATION	  	5
			
	7	  	CERTIFICATION/CONFIRMATION (RELEASE)	  	5
			
	8	  	STORAGE, PACKAGING AND TRANSPORTATION	  	5
			
	9	  	NOTIFICATION AND APPROVAL OF DEVIATIONS	  	5
			
	10	  	CHANGE CONTROL	  	6
			
	11	  	PRODUCT DEFECTS	  	6
			
	12	  	CONTACT DEPARTMENTS AND INDIVIDUALS	  	6
			
	13	  	CONFIDENTIALITY	  	6
			
	14	  	FINAL CLAUSES	  	7
		
	APPENDIX 1	  	9
		
	APPENDIX 2	  	10
		
	APPENDIX 3	  	14
		
	APPENDIX 4	  	15
		
	APPENDIX 5	  	16
		
	APPENDIX 6	  	17

  

 Page 2 of 18 

 QUALITY AGREEMENT 
 THIS AGREEMENT (the “Quality Agreement”) is made on 
 between 
 Molecular Insight Pharmaceuticals, Inc whose registered office is at 160 Second Street, Cambridge, MA 02142, USA hereinafter
referred to as “MIPI”, 
 and 
 Eckert & Ziegler Nuclitec whose registered office is at Gieselweg 1, 38110 Braunschweig, Germany hereinafter referred to as “EZN”, 
 each hereinafter referred to also as “a Party” and together as “the Parties”. 
 WITNESSETH 
 WHEREAS MIPI and EZN on the
             have entered into a Facility Setup and Contract Manufacturing Agreement (hereinafter the “Commercial Agreement”). 
 WHEREAS this Quality Agreement covers production and/or packaging and/or analysis and/or distribution of the product listed in the
appendices; and 
 WHEREAS the main roles and responsibilities of the Parties are set out in Appendix 2 hereto; 
 Now THEREFORE, the Parties hereto have adopted and are bound by the following conditions of this Quality Agreement: 
  

	1	LEGAL REQUIREMENTS 

  

	1.1	EZN affirms that it will be responsible for the application and issuance of the required Manufacturing Authorisation pursuant to the local legal requirements for the
production and/or packaging and/or analysis and/or release of the product listed in Appendix 1 (herein referred to as “the Product”). 

  

	1.2	The Parties shall be obliged to immediately advise each other’s Contact Department and Individuals (cf. Article 12) of any changes in the Manufacturing
Authorisation with regard to the Product. EZN shall be obliged to forward to MIPI a copy of the Manufacturing Authorisation (cf. Article 1.1). 

  

	1.3	EZN warrants that the Product from the first batch and onwards will be manufactured according to the documents agreed upon and as specified in Appendix 2. The
manufacture will take place at EZN’s plant at Braunschweig, Germany. 

  

	1.4	EZN warrants that all activities related to the Product will be in accordance with (i) all current international rules and regulations according to ICH guidelines
and (ii) with rules and regulations of the European Union, including but not limited to the EU-Guide to Good Manufacturing Practice for Medicinal Products, (iii) as well as the agreed directives of MIPI as specified in this Quality
Agreement, and (iv) all rules and regulations as defined in the Commercial Agreement (collectively hereinafter called the “Provisions”). 

  

 Page 3 of 18 

	1.5	EZN will allow MIPI and the competent authorities in the Territories where Product is being marketed, after prior agreement and during normal working hours, to perform
all the audits and inspections necessary in connection with the manufacture and supply of the Product covered by the Agreement. 

  

	1.6	MIPI will be responsible for compliance with the legal requirements and recommendations applicable to the Product and the manufacture hereof in the countries in which
the Product is sold, and shall inform EZN of any changes hereto which could require changes at EZN. Implementation of any such changes must be agreed upon separately unless otherwise agreed upon in the Commercial Agreement. 

 

	1.7	EZN agrees not to assign or move the performance of any tasks or obligations covered by this Quality Agreement to any other site, any affiliate or any third party
without having obtained the prior written consent of MIPI. 

  

	2	ACTIVE PHARMACEUTICAL INGREDIENTS, EXCIPIENTS AND PACKAGING
MATERIALS 

  

	2.1	The active pharmaceutical ingredients, excipients and packaging materials listed in Appendix 3 shall be provided by EZN, checked for accordance with the
specifications contained in the said Appendix, and tested and released for use in manufacturing the product by EZN. 

  

	2.2	The active pharmaceutical ingredients, excipients and packaging materials indicated in Appendix 4 shall be provided by MIPI, received, identity confirmed,
approved and stored in accordance with the specifications in the said Appendix, and released for manufacturing of the product by EZN. 

  

	3	MANUFACTURE 

  

	3.1	The Product shall be manufactured in batches, ensuring adherence to the manufacturing instructions agreed upon between the Parties following the Scaled up Process as
defined in the Commercial Agreement, as well as ensuring the quality in accordance with the Product specifications listed in Exhibit C of the Commercial Agreement. Manufacturing instructions shall be approved by MIPI in writing prior to
routine manufacturing. Final definition of batches applying for this Quality Agreement will be subject to separate mutual definition of EZN and MIPI. 

  

	4	QUALITY CONTROLS DURING AND AFTER MANUFACTURE 

 

	4.1	EZN shall conduct in-process controls according to agreed upon manufacturing instructions. 

  

	4.2	EZN shall conduct final quality controls according to Exhibit C of the Commercial Agreement and any additional testing required for current European GMP
guidelines or marketing authorization. 

  

 Page 4 of 18 

	5	REFERENCE AND RETENTION SAMPLES 

  

	5.1	EZN shall retain reference samples of all starting materials to the Product, including but not limited to active pharmaceutical ingredients, excipients (except for
gases, solvents and water) and packaging materials (the “Starting Materials”) until expiry date of the last batch of Final Product it was used for or in compliance with current GMP guidelines. Retention samples of the manufactured
Final Product must be taken in a quantity sufficient for two full analytic controls, and they must be kept for twenty-four (24) months past the expiry date. 

  

	6	DOCUMENTATION 

  

	6.1	EZN shall keep records on all manufacturing and control steps on the basis of GMP-guidelines and keep same for a minimum of five (5) years. All documentation will
be in German. 

  

	6.2	EZN will issue an annual Product review on the manufacture, analytical testing and summarizing all changes implemented and deviations and submit such review to MIPI, in
English and German. 

  

	7	BATCH RELEASE 

  

	7.1	MIPI shall receive the Confirmation by a Qualified Person (EU GMP Annex 16) of batch release as set forth in Appendix 5. 

  

	8	STORAGE, PACKAGING AND TRANSPORTATION 

  

	8.1	EZN shall be responsible for appropriate storage of the Starting Materials and the Product, as well as for packaging the Product for transportation in suitable and
well-closed containers. 

  

	8.2	MIPI is responsible for the transportation of the Product in accordance with the Commercial agreement? International Hazardous material regulations? at all times
governing European Guidelines for Good Distribution Practices and local legal requirements. 

  

	9	NOTIFICATION AND APPROVAL OF DEVIATIONS 

  

	9.1	EZN will investigate and document all deviations, out-of-specification results, non-compliance with Good Manufacturing Practices, production failures or product
complaints or any other matter that may affect the quality, safety or efficacy of the Product. Documentation will be retained as part of the batch documentation for the batch affected. 

  

	9.2	EZN shall notify MIPI within forty-eight (48) hours of all significant deviations from agreed procedures or specifications, which might have an impact on Product
quality and/or affect specifications and process compliance. 

  

 Page 5 of 18 

	10	CHANGE CONTROL 

  

	10.1	EZN will utilise a documented system of procedures for control of changes to raw materials, packaging materials, suppliers, equipment, facilities, utilities,
manufacturing methods, product and material specifications and requirements, sampling, test methods and release requirements. 

  

	10.2	EZN shall inform the MIPI well in advance about any technical changes (e.g. in component sourcing or quality, utilities or environmental conditions), which could affect
the regulatory documentation of the Product. 

  

	10.3	The Parties shall agree upon documentation necessary for the variation application and timeline of implementation, including necessary validation activities prior to
such implementation. 

  

	10.4	MIPI will inform EZN in writing about the variation approval promptly after receipt of such approval from the competent authorities. Additionally, MIPI will inform EZN
of any changes required in the process for receiving marketing authorization. 

  

	11	PRODUCT DEFECTS 

  

	11.1	EZN shall assist MIPI in investigating all Product complaints by reviewing Product and materials to determine the cause, if any. In addition, all appropriate
documentation shall be reviewed by EZN. EZN shall diligently work to provide a written report of its determination within thirty (30) days from receipt of MIPI’s written request. 

  

	11.2	If a deviation or a product defect is discovered, e.g. during stability monitoring or out of customer complaints, which has an impact on the quality of the product
after the product has been released; MIPI must be notified immediately. 

  

	12	CONTACT DEPARTMENTS AND INDIVIDUALS 

  

	12.1	EZN agrees to provide answers as soon as possible to all enquiries and complaints from MIPI. 

  

	12.2	Any communication between MIPI and EZN regarding the Quality Agreement shall be addressed to the Individuals mentioned in Appendix 6. 

 

	13	CONFIDENTIALITY 

  

	13.1	The Parties agree that information exchanged between them under the present Quality Agreement is of a proprietary and confidential nature Both Parties agree to keep
confidential any and all information exchanged under the present Quality Agreement and any other information they acquire about each other during the term of the present Quality Agreement. Both Parties warrant to each other to do their utmost in
order to ensure that their respective employees respect this confidentiality obligation. 

  

	13.2	This obligation does not extend to information for which the receiving Party can prove that: 

  

	 	13.2.1	it had the information prior to the time of disclosure; or 

  

 Page 6 of 18 

	 	13.2.2	the information has become generally available to the public domain after the date hereof through no fault of the receiving Party. 

  

	 	13.2.3	it has received the information from a third party whose direct or indirect source is not the disclosing Party. 

  

	13.3	The receiving Party shall further be entitled to disclose to the competent regulatory or legal authorities such part of the information received from the disclosing
Party that is required by law to be disclosed to such authorities. In this event, the receiving Party shall ask the receiving regulatory or legal authority to maintain confidentiality. 

  

	14	FINAL CLAUSES 

  

	14.1	This Quality Agreement shall become effective upon signature by both Parties. 

  

	14.2	Supplements and amendments to this Quality Agreement shall be in writing and signed by the Parties. 

  

	14.3	This Quality Agreement shall remain in effect for the term of the Commercial Agreement. The termination or expiration of this Quality Agreement for any reason
whatsoever shall be without prejudice to any obligations or rights on the part of either Party which have accrued prior to such termination, and shall not affect or prejudice any provision of this Agreement which is expressly (e.g. Retention of
Samples in Article 5.1) or by implication provided to come into effect on, or continue in effect after such termination. 

  

	14.4	The Parties shall renegotiate the terms of this Quality Agreement if necessary due to major legal or regulatory changes. 

  

	14.5	Upon termination of this Quality Agreement and the corresponding Commercial Agreement, all documents provided by MIPI to EZN and all reference samples as well as the
batch manufacturing and control documents archived according to Article 5 and 6 shall be returned to MIPI. 

  

	14.6	In the event that any provision in this Quality Agreement is held to be unlawful or invalid in any jurisdiction, the meaning of such provision will be construed to the
greatest extent possible so as to render it enforceable. If no such construction can render such provision enforceable, it will be severed. The remainder of this Agreement will remain in full force and effect, and the Parties will negotiate in good
faith a reasonable substitute provision that is valid and enforceable in such jurisdiction. 

  

	14.7	In case of discrepancy between any provision of the Commercial Agreement and the Quality Agreement, special terms shall prevail over general terms, and new terms
prevail over old terms. 

  

	14.8	German law shall apply. 

  

					
	MIPI	 		 	EZN
			
	  
	 		 	  

  

 Page 7 of 18 

			
	Name:	 	Name:
		
	Title:	 	Title:
		
	Date:	 	Date

  
  
  
  

 Page 8 of 18 

 APPENDIX 1 
 TO THE 
 QUALITY (GMP AND GDP)
AGREEMENT 
 between 
 MIPI 
 and 
 EZN 
  
  
 Product 
 OnaltaTM 
  
  

 Page 9 of 18 

 APPENDIX 2 
 TO THE 
 QUALITY (GMP AND GDP)
AGREEMENT 
 between 
 MIPI 
 and 
 EZN 
  
  
  

									
		 	MIPI	 	    EZN    	  	 corresponding flies / documentation / remarks
 (e.g. title, No., enclosure, etc.)
	  	
	Accordance with the registration documents	 	 ̈	 	X	  	 	  	
		
	 sterile pre-dispensed Iyophilized preparation of DOTA-TOC “KIT”:
	  	
					
	 Specification
	 	X	 	 ̈	  	 	  	
	 Supplier qualification
	 	X	 	 ̈	  	 	  	
	 Supplier review
	 	X	 	 ̈	  	 	  	
	 Supply/ Procurement
	 	X	 	 ̈	  	 	  	
	 Testing
	 	X	 	 ̈	  	 	  	
	 Reference samples
	 	X	 	 ̈	  	 	  	
	 Release
	 	X	 	 ̈	  	 	  	
	 Storage Conditions
	 	X	 	 ̈	  	 	  	
	 Shelf Life
	 	X	 	 ̈	  	 	  	
					
	 Certain excipients:
	 		 		  		  	
					
	 Specification
	 	X	 	 ̈	  	 	  	
	 Supplier qualification
	 	 ̈	 	X	  	 	  	
	 Supplier review
	 	 ̈	 	X	  	 	  	
	 Supply / Procurement
	 	 ̈	 	X	  	 	  	
	 Testing
	 	 ̈	 	X	  	 	  	
	 Reference samples
	 	 ̈	 	X	  	 	  	
	 Release
	 	 ̈	 	X	  	 	  	
					
	 Other excipients: Not Applicable
	 		 		  		  	
					
	 Specification
	 	 ̈	 	 ̈	  	 	  	
	 Supplier qualification
	 	 ̈	 	 ̈	  	 	  	
	 Supplier review
	 	 ̈	 	 ̈	  	 	  	
	 Supply/Procurement
	 	 ̈	 	 ̈	  	 	  	
	 Testing
	 	 ̈	 	 ̈	  	 	  	
	 Reference samples
	 	 ̈	 	 ̈	  	 	  	
	 Release
	 	 ̈	 	 ̈	  	 	  	

  

 Page 10 of 18 

									
		 	MlPI	 	EZN	  	corresponding files / documentation / remarks (e.g. title, No., enclosure, etc.)	  	
					
	 Primary packaging:
	 		 		  		  	
					
	 Specification
	 	X	 	 ̈	  	 	  	
	 Supplier qualification
	 	 ̈	 	X	  		  	
	 Supplier review
	 	 ̈	 	X	  	 	  	
	 Clearance for printing
	 	X	 	 ̈	  		  	
	 Supply/Procurement
	 	 ̈	 	X	  	 	  	
	 Testing
	 	X	 	 ̈	  		  	
	 Retention samples
	 	 ̈	 	X	  	 	  	
	 Release
	 	 ̈	 	X	  		  	
				 	
	 Printed secondary packaging:
	 		 		  		  	
					
	 Label
	 		 		  		  	
	 Specification
	 	X	 	 ̈	  	 	  	
	 Supplier qualification
	 	 ̈	 	X	  		  	
	 Supplier review
	 	 ̈	 	X	  	 	  	
	 Clearance for printing
	 	 ̈	 	X	  		  	
	 Supply/Procurement
	 	 ̈	 	X	  	 	  	
	 Testing
	 	X	 	 ̈	  		  	
	 Retention samples
	 	 ̈	 	X	  	 	  	
	 Release
	 	X	 	 ̈	  		  	
				 	
	 Secondary packaging
	 		 		  	 	  	
	 Specification
	 	 ̈	 	X	  		  	
	 Supplier qualification
	 	 ̈	 	X	  	 	  	
	 Supplier review
	 	 ̈	 	X	  		  	
	 Clearance for printing
	 	 ̈	 	X	  	 	  	
	 Supply/Procurement
	 	 ̈	 	X	  		  	
	 Testing
	 	X	 	 ̈	  	 	  	
	 Retention samples
	 	 ̈	 	X	  		  	
	 Release
	 	X	 	 ̈	  	 	  	

  

 Page 11 of 18 

									
		 	MlPI	 	EZN	  	corresponding files / documentation / remarks (e.g. title, No., enclosure, etc.)	  	
					
	 Package leaflet:
	 		 		  		  	
					
	 Specification
	 	X	 	 ̈	  	 	  	
	 Supplier qualification
	 	X	 	 ̈	  		  	
	 Supplier review
	 	X	 	 ̈	  	 	  	
	 Clearance for printing
	 	X	 	 ̈	  		  	
	 Supply/Procurement
	 	X	 	 ̈	  	 	  	
	 Testing/Readibility
	 	X	 	 ̈	  		  	
	 Retention samples
	 	X	 	 ̈	  	 	  	
	 Release
	 	X	 	 ̈	  		  	
				 	
	 Finished product:
	 		 		  		  	
					
	 Specification
	 	X	 	 ̈	  		  	
	 Assignment of batch no.
	 	 ̈	 	X	  	 	  	
	 Determination of shelf life
	 	X	 	 ̈	  		  	
	 Packaging procedures
	 	X	 	 ̈	  	 	  	
	 In-process-control
	 	 ̈	 	X	  		  	
	 Packaging record
	 	 ̈	 	X	  	 	  	
	 Testing procedure
	 	X	 	 ̈	  		  	
	 Testing record
	 	 ̈	 	X	  	 	  	
	 Certificate of analysis
	 	 ̈	 	X	  		  	
				 	
	 Release for shipment
	 	 ̈	 	X	  	 	  	
	 Final testing
	 	 ̈	 	X	  		  	
	 Retention samples
	 	 ̈	 	X	  	 	  	
	 Final release for market
	 	 ̈	 	X	  		  	
	 On-going stability
	 	 ̈	 	X	  	 	  	
	 On-going stability Procedure
	 	 ̈	 	X	  		  	

 EZN will perform the stability study based on MIPI protocol! 
 MIPI receives the following documentation: 
  

					
	 	  	Every consignment	  	On request
	 Finished product:
	  		  	
			
	 Packaging record, complete
	  	 ̈	  	X
	 Packaging record, extract
	  	 ̈	  	X
	 In-process control records
	  	 ̈	  	X
	 Cert. of analysis for finished product
	  	 ̈	  	X
	 Confirmation of proper manufacture/ testing
	  	 ̈	  	X

  

 Page 12 of 18 

 Product Quality Review: 
 EZN submits documents / data for the activities performed by EZN. 
 The final evaluation of PQR is
the responsibility of MIPI. 
 Other agreements / Special arrangements 
 (e.g. specific quality tests, shelf life tests, storage conditions, transport conditions) 
 On-going stability studies shall be limited to a maximum of analyses of 30 samples consisting at a maximum of tests conducted for a batch release. 
  

			
	Done by (Signature / Date):	    	
		
	 MIPI        (Signature/ Date)
 Q.P.:
  
	    	 EZN        (Signature/ Date)
 Q.P.:
  

	 Head of Production:
  
	    	 Head of Production:
  

	 Head of QC:
  
	    	 Head of QC:
  

		    	

  

 Page 13 of 18 

 APPENDIX 3 
 TO THE 
 QUALITY (GMP AND
GDP) AGREEMENT 
 between 
 MIPI 
 and 
 EZN 
  
  
 [Edotreotide Y 90 
 And edotreotide In 111] 
 ACTIVE
PHARMACEUTICAL INGREDIENTS, EXCIPIENTS AND PACKAGING MATERIALS TO BE PROVIDED BY EZN 
 Yttrium-90 as yttrium chloride 
 Indium-111 as indium chloride 
 Final
primary container closure system (clean, sterile, pyrogen freel00 mL glass vial with rubber serum cap and aluminium seal) 
 Qualify of
Active Pharmaceutical Ingredients: 
 [Please include name and address of manufacturer of active pharmaceutical ingredient] 
  
 Quality of Excipients: Certificate of Analysis confirming the identity, purity and
strength of the Y-90 and In-111 component isotopes. 
 Quality of Packaging Material: 
  

 Page 14 of 18 

 APPENDIX 4 
 TO THE 
 QUALITY (GMP AND GDP)
AGREEMENT 
 between 
 MIPI 
 and 
 EZN 
  
  
 Edotreotide Y 90 and 
 Edotreotide In 111 
 ACTIVE
PHARMACEUTICAL INGREDIENTS, EXCIPIENTS AND PACKAGING MATERIALS TO BE PROVIDED BY MIPI 
 Edotreotide reference standard 
 Kits for the production of edotreotide Y 90 and edotreotide In 111 
 Quality of Active Pharmaceutical Ingredients: 
 Bachem AG- GMP Edotreotide 
 Rentschler: GMP- freeze dried kits to product edotreotide 
 Quality of Excipients: 
 Excipients contained in GMP manufactured kits containing API 

Quality of Packaging Material: 
  

 Page 15 of 18 

 APPENDIX 5 
 Form 
 Batch Release 
  

					
			
	Product:	 	  
	 	 
			
	Batch no.:	 	  
	 	
			
	Packaging size:	 	  
	 	
			
	Date of manufacture:	 	  
	 	
			
	Date of expiry:	 	  
	 	
			
	Quantity	 	  
	 	
			
	Name and address
of manufacturing site:	 	  
	 	

 Herewith we confirm that the above described batch has been produced incl. packaging and quality control (QC) within
a.m. manufacturing site and in compliance with national pharmaceutical law and GMP requirements and in conformance with the manufacturing procedures and testing instructions released by CG. 
 The batch processing, packaging and analysis records were reviewed. That means, inter alia, that possible deviations (concerning the product covered by the
Agreement and the starting materials) are listed and evaluated. 
 During the course of manufacturing, packaging and testing there were

 [    ] no deviation / no OOS result 
 [    ] deviation / OOS result (deviation / OOS report attached) 
 [    ] additional relevant information regarding the quality of the product is attached 
  

			
		
	Date:	 	  

		
	Sign:	 	  

	 	 	(Qualified Person CA

  

 Page 16 of 18 

 APPENDIX 6 
 CONTACT DEPARTMENT AND INDIVIDUALS 
 MIPI 

  

					
	 	 	 
	Name	 	Task	 	Address, Phone, Fax, E-mail
	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 

 EZN 
  

					
	 	 	 
	Name	 	Task	 	Address, Phone, Fax, E-mail
	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 	 	 

  

 Page 17 of 18 

 EXHIBIT E – PRODUCT PRICE TABLE 
 Final Product Price (in € per 120mCi dose) 
  

											
	 Item
	  	 Year 1 (*
	  	 Year 2
	  	 Year 3
	  	 Year 4
	  	 Year 5 to 10

	Y90-DOTATOC	  	 *****
	  	 *****
	  	 *****
	  	 *****
	  	 *****

  

	(*	Year 1 will commence upon completion of Facility and receipt of manufacturing authorization. For any dose of Final Product delivered during the Interims Phase, prices
of Year 1 shall apply. 

 All prices in addition to the Monthly Payments and Milestone Payments. 
 Y-90 Price (in € per 120mCi dose) 
 EZN
will deliver Y-90 for the price of ***** per 120mCi dose. 
 All prices in addition to the Monthly Payments and Milestone Payments. 

Kit Storage and Handling Fee 
 EZN will
store and handle Kits for the price of ***** per patient dose/Kit (exclusive packaging and transportation costs). 
 All prices in addition to
the Monthly Payments and Milestone Payments.  
 Preliminary non-binding volume forecast (Number of 120 mCi patient doses)

  

											
	 Item
	  	 Year 1 (*
	  	 Year 2
	  	 Year 3
	  	 Year 4
	  	 Year 5

	Y90-DOTATOC	  	 *****
	  	 *****
	  	 *****
	  	 *****
	  	 *****

  

	(*	Year 1 will commence upon completion of Facility and receipt of manufacturing authorization. 

 Projected Expected Volume Will Be Provided to EZN On An Agreed Upon Schedule 
  
  
 * Confidential Treatment Requested * 

 EXHIBIT F – MILESTONE SCHEDULE 
 Milestone schedule: 
  

	 	1.	Upon Effective date /signature of agreement ***** 

  

	 	2.	Upon reaching the following milestones: ***** 

  

	 	•	 	 technical readiness of Provisional Facility for Interim Supply, which shall mean three (3) consecutive production runs at the Provisional Facility
that meet the product specifications to be proven to MIPI by EZN by means of signed respective batch release reports 

  

	 	•	 	 design clearance for the Facility (high throughput supply capability), which shall mean submission of technical design specifications of the Facility
(high throughput supply capability) by EZN to MIPI 

  

	 	3.	Upon reaching the following milestones: ***** 

  

	 	•	 	 regulatory clearance of Provisional Facility for Interim Supply, which shall mean the submission of a copy of a document by local authorities by EZN to
MIPI 

  

	 	4.	Upon reaching the following milestones: ***** 

  

	 	•	 	 factory acceptance for the Hot Cell(s) for Facility (high throughput supply capability), which shall mean submission of the final report of FAT signed
by EZN to MIPI 

  

	 	5.	Upon reaching the following milestones: ***** 

  

	 	•	 	 technical and regulatory clearance for the Facility (high throughput supply capability), which shall mean the submission of the final validation report
for the Facility (high throughput supply capability) and a copy of a document by local authorities by EZN to MIPI 

 A copy of
the respective documents send by facsimile or via e-mail to the MIPI contact mentioned in Article 20 of the Facility Setup and Contract Manufacturing Agreement shall be sufficient for due submission. 
  
  
 * Confidential Treatment Requested *Lease Agreement, dated as of February 17, 2010

 Exhibit 10.39 
 DATED        17 February 2010 
 MOURANT & CO TRUSTEES LIMITED and 
 MOURANT PROPERTY TRUSTEES
LIMITED 
 as TRUSTEES OF THE DRAPERS GARDENS UNIT TRUST 
 BLACKROCK INVESTMENT MANAGEMENT (UK) LIMITED 
 CONFORMED COPY 
 LEASE 
 of 
 Drapers Gardens, 12 Throgmorton Avenue, London EC2 
  

							
		 	Term:	 	25 years	 	
				
		 	Commencing:	 		 	
				
		 	Rent:	 	£13,541,595	 	

							
	LR1.	 	Date of lease	 	17 February 2010
				
	LR2.	 	Title number(s)	 	LR2.1	 	Landlord’s title number(s)
			
		 		 	NGL862671 and NGL875562
				
		 		 	LR2.2	 	Other title numbers
			
		 		 	None
			
	LR3.	 	Parties to this lease	 	Landlord
			
		 		 	Mourant & Co Trustees Limited (a company incorporated in Jersey under registered number 18478) and Mourant Property Trustees Limited (a company incorporated in
Jersey under registered number 87600) as trustees of the Drapers Gardens Unit Trust both of 22 Grenville Street, St Helier, Jersey, JE4 8PX
			
		 		 	Tenant
			
		 		 	Blackrock Investment Management (UK) Limited (company registration number 2020394) whose registered office is at 33 King William Street, London EC4R
9AS
			
		 		 	Other parties
			
		 		 	None
			
	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.
			
		 		 	As specified in clause 1 of this lease and defined in this lease as “the Premises”.

							
	LR5.	 	Prescribed statements etc	 	LR5.1	 	Statements prescribed under rules 179 (dispositions in favour of a charity), 180 (dispositions by a charity) or 196 (leases under the Leasehold Reform, Housing and Urban
Development Act 1993) of the Land Registration Rules 2003.
			
		 		 	None
				
		 		 	LR5.2	 	This lease is made under, or by reference to, provisions of:
			
		 		 	Not applicable
			
	LR6.	 	Term for which the Property is leased	 	The term as specified in this lease at clause 3.
			
	LR7.	 	Premium	 	None
			
	LR8.	 	Prohibitions or restrictions on disposing of this lease	 	This lease contains a provision that prohibits or restricts 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
			
		 		 	As specified in clause 10
				
		 		 	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
			
		 		 	As specified in the first schedule of this lease
				
		 		 	LR11.2	 	Easements granted or reserved by this lease over the Property for the benefit of other property
			
		 		 	As specified in the second schedule of this lease
			
	LR12.	 	Estate rentcharge burdening the Property	 	None
			
	LR13.	 	Application for standard form of restriction	 	None
			
	LR14.	 	Declaration of trust where there is more than one person comprising the Tenant	 	None

 DATED 17 February 2010 
 PARTIES 
  

											
	1	  	Landlord	  	MOURANT & CO TRUSTEES LIMITED (a company incorporated in Jersey under registered number 18478) and MOURANT PROPERTY TRUSTEES LIMITED (a company
incorporated in Jersey under registered number 87600) as trustees of the Drapers Gardens Unit Trust both of 22 Grenville Street, St Helier, Jersey, JE4 8PX
			
	2	  	Tenant	  	BLACKROCK INVESTMENT MANAGEMENT (UK) LIMITED (company registration number 2020394) whose registered office is at 33 King William Street, London EC4R
9AS
						
	1	  	DEFINITIONS AND INTERPRETATION	  		  		  		  	
						
	1.1	  	Unless the contrary intention appears, the following definitions apply:	  		  		  		  	
				
		  	Acceptable Assignee	  		  	means:
					
		  		  		  	(a)	  	an Entity which, immediately preceding the date of the application to assign, has and which on the date of the transfer to it of this Lease still
maintains:
						
		  		  		  		  	(i)	  	in respect of its senior unsecured unsubordinated and unguaranteed long term debt obligations a credit rating of A or better from Standard & Poor’s Ratings Group, a
division of McGraw-Hill Inc or its successors (“Standard & Poor’s”); or
						
		  		  		  		  	(ii)	  	a long-term counterparty credit rating of A or better from Standard & Poor’s; or
						
		  		  		  		  	(iii)	  	credit ratings in respect of its senior unsecured unsubordinated and

											
		  		  		  		  		  	unguaranteed long term debt or in respect of its long term counterparty status from other major rating agencies acceptable to the Landlord acting reasonably equivalent to or better
than any one of the credit ratings described in (i) and (ii) above
				
		  		  		  	AND WHERE
						
		  		  		  		  	(iv)	  	at the date of the application to assign there is no other major rating agency whose equivalent rating in respect of the proposed assignee is lower than that agency’s
equivalent of any of the credit ratings described in (i) and (ii) above
					
		  		  		  		  	provided that where any relevant agency rebases redesignates or otherwise changes the substance of or criteria for a relevant rating as referred to above (or the number
of grades or rankings above or below the relevant rating) or does any other act or thing so that the comparative creditworthiness strength or substance reflected in any of the ratings referred to above is changed then there shall be deemed
substituted for the ratings referred to above such new or revised ratings as will then reflect and be equivalent to the relative creditworthiness strength and substance implied by the above ratings at the date hereof to the intent and effect that
the substituted rating shall be equivalent mutatis mutandis to the current standards of creditworthiness strength and substance reflected in such current ratings; and

											
		  		  		  		  	(v)	  	at the date of the application to assign and the date immediately prior to completion of the proposed assignment the proposed assignee’s credit rating has not been placed on
Credit Watch (other than a Credit Watch in relation to which the relevant agency confirms that the proposed assignee’s rating will not be downgraded below the relevant rating as referred to above) nor has been accorded negative or developing
rating outlook or equivalent (other than with a view to a downgrade which would still meet the relevant rating as referred to above or to a possible up-grade) by Standard and Poor’s;
					
		  		  		  	(b)	  	an Entity who does not adversely affect the market value of the Landlord’s interest in the Premises by taking an assignment of this Lease when compared with the
position immediately prior to the proposed assignment (whether or not the Landlord has any intention at the time of selling or raising money on the security of its reversionary interest in the Premises) by a hypothetical tenant who has at that
point:
						
		  		  		  		  	(i)	  	in respect of its senior unsecured unsubordinated and unguaranteed long term debt obligations a credit rating of A from Standard & Poor’s; or
						
		  		  		  		  	(ii)	  	a long-term counterpart credit rating of A from Standard & Poor’s.
					
		  		  		  		  	The market value of the Landlord’s interest in the Premises shall be calculated having regard to the valuation guidelines set out in the RICS

											
		  		  		  		  	Appraisal and Valuation Manual current at the date of the said valuation or such alternative valuation practice for institutional investment office properties as is in
common use for office premises of similar Net Internal Area to the Premises in the City of London at the said date; or
					
		  		  		  	(c)	  	the Crown or a Secretary of State or other Minister of the Crown on behalf of the Crown in order to perform the functions of the Crown or any body corporate agency or
other body whose obligations are directly guaranteed to the Landlord by or in the name of the Crown;
			
		  	Adjoining Property	  	has the meaning set out in the Head Lease;
			
		  	Base Rate	  	the base rate for the time being of Barclays Bank PLC or some other London clearing bank nominated from time to time by the Landlord or in the event of such base rate
ceasing to exist such other reasonably comparable rate of interest as the Landlord shall from time to time reasonably determine;
			
		  	Building Services	  	the activity of managing the Building;
			
		  	Building Specification	  	the specification for the Premises annexed to this Lease the Appendix hereto and marked “Building Specification”;
			
		  	Cessation Date	  	the date when part or all of the Building Services cease to be provided by the Tenant Transferor and the Tenant Transferor Employees transfer pursuant to the Transfer
Regulations to an Incoming Service Provider;
			
		  	Copthall Avenue Head Lease	  	the lease of 10/12 Copthall Avenue, London dated 29 December 2006 made between (1) The Drapers Company and (2) the Landlord as varied by a deed of variation dated 7
January 2009 made between (1) The Drapers Company and (2) the Landlord, registered at the Land Registry with title number NGL875562;

											
		  	Decoration Year	  	the year ending 20 March 2012 and thereafter every subsequent third year of the Term;
			
		  	Default Uninsured Risk	  	a risk against which the Head Landlord is obliged to insure under the Head Lease but against which the Head Landlord has not insured otherwise than because of an act,
omission or default of the Landlord;
			
		  	Development	  	development as defined in section 55 of the Town and Country Planning Act 1990;
			
		  	Entity	  	a body corporate or other business organisation or partnership or joint venture;
			
		  	EPC	  	the energy performance certificate (as defined in the Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007) from time to
time obtained by the Landlord for the Premises;
			
		  	Equivalent Services	  	services similar to part or all of the Building Services;
			
		  	Group Company	  	in relation to any company a company which is a member of the same group of companies within the meaning of Section 42 of the Landlord and Tenant Act
1954;
			
		  	Guarantor	  	any party who during the Term acts as guarantor and in the case of an individual includes his personal representatives;
			
		  	Head Landlord	  	The Master and Wardens and Brethren and Sisters of the Guild or Fraternity of The Blessed Mary The Virgin of The Mystery of Drapers of The City of London of the Drapers
Hall, Throgmorton Avenue, London EC2N 2DQ (“the Drapers Company”) or the person entitled for the time being to the reversion expectant (whether immediately or mediately) on the determination of the Head Lease;

											
		  	Head Lease	  	the lease of Drapers Gardens dated 21 March 2006 made between (1) The Drapers Company and (2) Drapers Gardens (2) B.V. as varied by a deed of variation dated
7 January 2009 made between (1) The Drapers Company and (2) the Landlord, registered at the Land Registry with title number NGL862671 and including (where the context allows) the Copthall Avenue Head Lease;
			
		  	H M Revenue & Customs	  	H M Revenue & Customs or any other person, authority, body or official which is from time to time responsible for the care, management or administration of Value
Added Tax;
			
		  	Incoming Service Provider	  	a supplier who provides Equivalent Services, including the Landlord (if it decides to bring the Equivalent Services back in-house) or a third party supplier after the
Cessation Date;
			
		  	Independent Person	  	any independent person appointed to resolve any dispute between any party or parties to this Lease and acting in accordance with the seventh schedule;
			
		  	Insurance Premium Tax	  	insurance premium tax as provided for in the Finance Act 1994 and include any other tax from time to time replacing it or of a similar fiscal nature;
				
		  	Insured Risks	  	(a)	  	those risks set out in the definition of Insured Risks in the Head Lease (whether or not the Head Lease exists); and
				
		  		  	(b)	  	a risk the Tenant has reasonably requested in writing to be insured
			
		  		  	which are not Market Uninsured Risks;
			
		  	Interest Rate	  	three percentage points (3%) per annum above Base Rate;
			
		  	Landlord	  	the first named party to this Lease and includes the person for the time being entitled to the reversion immediately expectant on the determination of the
Term;

											
		  	Landlord’s Uninsured Damage Liability	  	(a)	  	in respect of any damage caused by an Uninsured Risk during the first 15 years of the Term the sum of £10,000,000 exclusive of VAT;
					
		  		  		  	(b)	  	in respect of any damage caused by an Uninsured Risk during the next five years of the Term the sum of £5,000,000 exclusive of VAT; and
					
		  		  		  	(c)	  	in respect of any damage caused by an Uninsured Risk in the last five years of the Term the sum of £1,000,000 exclusive of VAT (in the case only of (c) as
increased in line with the BCIS All-in Tender Price Index in respect of the period from the date of this Lease to the twentieth anniversary of the commencement of the Term);
			
		  	Latent Defects Insurance Policies	  	the two latent defects insurance policies dated 12 January 2010 effected in respect of the Premises, of which certified copies have been supplied to the
Tenant;
				
		  	Market Uninsured Risks	  	(a)	  	any risk, or some aspect of any risk, which (A) is a Specified Risk or (B) the Landlord or Tenant has reasonably requested in writing to be insured and which at the date
of request can be insured but which:
						
		  		  		  		  	(i)	  	is excluded from cover for the time being by reason of withdrawal of cover by the insurer and which is not otherwise available to be insured on the London insurance
market;
						
		  		  		  		  	(ii)	  	is withdrawn from cover by the Head Landlord or the Landlord on the grounds that cover cannot be placed on the London insurance market at reasonably commercial rates and on
reasonably commercial conditions; or

											
		  		  		  		  	(iii)	  	is excluded, or partially excluded, from cover in relevant circumstances by reason of the operation of policy conditions; but
					
		  		  		  	(b)	  	a risk which (A) is a Specified Risk or (B) the Landlord or Tenant has reasonably requested in writing to be insured does not become a Market Uninsured Risk (but shall
remain an Insured Risk) by reason only of:
						
		  		  		  		  	(i)	  	exclusion provisions in relation to a level of excess liability provided that such level of excess liability and exclusion provisions are on standard market terms;
						
		  		  		  		  	(ii)	  	rejection by the insurer of liability, or some part of it, due to vitiation by the Tenant any undertenant or other occupier of the Premises or anyone at the Premises with the
authority of any of them; or
						
		  		  		  		  	(iii)	  	infringement by the Head Landlord, the Landlord, the Tenant or any person at the Premises with the actual or purported authority of the Tenant of policy conditions for the
maintenance of cover;
			
		  	Net Internal Area	  	net internal area as defined by the Code of Measuring Practice published by The Royal Institution of Chartered Surveyors from time to time;

											
		  	Permitted Part	  	part or parts of the Premises capable of independent occupation and sufficiently served by common parts and facilities and which will result in the remaining part of the
Premises also being capable of independent occupation and sufficiently served by common parts and facilities provided that at any one time any floor shall not be split into more than four units of occupation;
			
		  	Permitted User	  	has the meaning set out in the lease particulars of the Head Lease;
			
		  	Pipes	  	all existing and future pipes sewers drains ducts conduits gutters watercourses wires cables channels flues service corridors risers trunking and all other conducting
media and any ancillary apparatus;
			
		  	Planning Acts	  	the Town and Country Planning Act 1990 the Planning (Listed Buildings and Conservation Areas) Act 1990 the Planning (Hazardous Substances) Act 1990 the Planning
(Consequential Provisions) Act 1990 the Planning and Compensation Act 1991 the Planning and Compulsory Purchase Act 2004 and the Planning Act 2008 and any other town and country planning or related legislation and any re-enactments or amendments
thereof for the time being in force;
			
		  	Premises	  	the premises demised by the Head Lease (including the Copthall Avenue Head Lease) and registered at the Land Registry under title numbers NGL862671 and
NGL875562;
			
		  	Quarter Day	  	each of 25 March 24 June 29 September and 25 December;
			
		  	Rent	  	the rent payable pursuant to clause 3.1;
			
		  	Rent Commencement Date	  	                                        
                            ;
			
		  	Review Dates	  	                                    and every fifth
anniversary of such day during the Term and for the avoidance of doubt there shall be no rent review on the last day of the Term;

											
		  	Specified Risk	  	fire (including subterranean fire), strikers locked-out workers or persons taking part in labour disturbances, escape of water or oil from any tank apparatus pipe or
appliance, lightning, earthquake, explosion, aircraft (other than hostile aircraft) and other aerial devices or articles dropped therefrom, riot, civil commotion, malicious damage, storm or tempest, bursting or overflowing of water tanks apparatus
or pipes, flood from any cause (including tides, sewer back-up and dam failure), impact by road vehicles or any article falling therefrom or any animal, terrorist acts (meaning acts of persons acting on behalf of, or in connection with, any
organisation which carries out activities directed towards the overthrowing or influencing, by force or violence, of Her Majesty’s government in the United Kingdom or any other government de jure or de facto), escape of water from any automatic
sprinkler installation (including damage by freezing), theft or attempted theft and resulting damage, subsidence or ground heave or landslip, accidental damage, accidental breakage or damage of fixed glass or fixed sanitary ware and release of
Legionella bacteria;
			
		  	Substantial Damage	  	damage to the Premises (including any alterations or improvements) in relation to which the cost of reinstatement will (in the reasonable opinion of the Landlord) exceed
the Landlord’s Uninsured Damage Liability;
			
		  	Tenant	  	the second named party to this Lease and includes the Tenant’s successors in title and assigns and in the case of an individual includes his personal
representatives;
			
		  	Tenant Transferor	  	the Tenant or any sub-contractor or other service provider engaged by the Tenant (directly or via its managing agent) to provide the Building Services;

											
		  	Tenant Transferor Employees	  	those persons employed wholly or mainly for the purposes of carrying out the Building Services by a Tenant Transferor;
			
		  	Term	  	the term of years granted by this Lease;
			
		  	Termination Date	  	the expiry or sooner determination of this Lease (unless the Tenant renews this Lease or enters into a Further Lease as defined in Clause 10);
			
		  	Termination Period	  	if this Lease terminates by the giving of notice to terminate, the period starting on the date such notice is served and ending on the Termination Date;
			
		  	this Lease	  	this Lease and any document which is made supplemental hereto or which is entered into pursuant to or in accordance with the terms hereof;
			
		  	Transfer Regulations	  	the Transfer of Undertakings (Protection of Employment) Regulations 2006 as amended or replaced from time to time;
			
		  	Uninsured Risks	  	a Default Uninsured Risk or a Market Uninsured Risk;
			
		  	Unsecured Underletting	  	an underletting in relation to which the underlessor and underlessee have agreed to exclude the provisions of sections 24 to 28 of the Landlord and Tenant Act 1954 and
before completion of the underletting or, if earlier, the underlessee’s contractual obligation to enter into the underletting have duly carried out the requirements of Schedules 1 and 2 of the Regulatory Reform (Business Tenancies) (England and
Wales) Order 2003 to render this agreement valid;
			
		  	Value Added Tax	  	value added tax as provided for in the Value Added Tax Act 1994 and includes any other tax from time to time replacing it or of a similar fiscal nature;
and
			
		  	Working Day	  	any day (other than a Saturday or a Sunday) upon which clearing banks in the United Kingdom are open to the public for the transaction of
business.

			
	2	  	INTERPRETATION
		
	2.1	  	Unless the context otherwise requires:
		
	2.2	  	where two or more persons are included in the expression “the Tenant” and/or “the Guarantor” and/or “the Landlord” the covenants which are expressed
to be made by the Tenant and/or the Guarantor and/or the Landlord shall be deemed to be made by such persons jointly and severally;
		
	2.3	  	words importing persons shall include firms companies and corporations and vice versa;
		
	2.4	  	any covenant or regulation to be observed by any party hereto not to do any act or thing shall include an obligation not to cause permit or suffer such act or thing to be done;

		
	2.5	  	any reference to a statute (whether specifically named or not) shall include any amendment or re-enactment of such statute for the time being in force and all instruments orders
notices regulations directions bye-laws permissions and plans for the time being made issued or given thereunder or deriving validity therefrom;
		
	2.6	  	the titles and headings appearing in this Lease are for reference only and shall not affect its construction;
		
	2.7	  	all agreements and obligations by any party contained in this Lease (whether or not expressed to be covenants) shall be deemed to be and shall be construed as covenants by such
party; and
		
	2.8	  	any reference to any right, entitlement or obligation of any person under the laws in relation to Value Added Tax, or any business carried on by any person for Value Added Tax
purposes, shall (where appropriate and unless the context otherwise requires) be construed, at any time when such person is treated as a member of a group for the purposes of section 43 of the Value Added Tax Act 1994, to include a reference to the
right, entitlement or obligation under such laws of, or the business carried on for Value Added Tax purposes by, the representative member of such group at such time (the term “representative member” to be construed in accordance with the
said section 43).

			
	3	  	DEMISE AND RENTS
		
		  	The Landlord HEREBY DEMISES unto the Tenant the Premises with full title guarantee TOGETHER WITH the rights and easements specified in the first schedule EXCEPT AND RESERVING the
rights and easements specified in the second schedule SUBJECT TO and with the benefit of all rights easements quasi-easements privileges covenants restrictions and stipulations of whatsoever nature affecting the Premises and contained or referred to
in the fifth schedule TO HOLD the Premises unto the Tenant for a term of 25 years from and including 17 February 2010 YIELDING AND PAYING unto the Landlord by way of rent during the Term:
		
	3.1	  	yearly and proportionately for any fraction of a year the sum of £13,541,595 (exclusive of Value Added Tax) and from and including each Review Date such Rent as shall
become payable under and in accordance with the provisions of the third schedule in each case to be paid to the Landlord (by banker’s standing order if the Landlord so requires) by equal quarterly payments in advance on each Quarter Day in
every year the first payment being a proportionate sum in respect of the period from and including the Rent Commencement Date to the day immediately preceding the next Quarter Day to be made on the Rent Commencement Date;
		
	3.2	  	a due proportion to be fairly and properly determined by the Landlord of all sums (including, without limitation, Insurance Premium Tax and the cost of periodic valuations for
insurance purposes provided that such valuations do not occur more than once per year) payable to the Head Landlord by way of reimbursement of insurance premiums which the Landlord is required to pay as tenant under the Head Lease, to be paid to the
Landlord within five Working Days of written demand;
		
	3.3	  	a due proportion to be fairly and properly determined by the Landlord of the costs incurred by the Landlord pursuant to clause 6.1.1 and the insurance premiums incurred by the
Landlord pursuant to clauses 6.1.3, 6.1.4 and 6.1.5 within five Working Days of written demand;
		
	3.4	  	a sum equal to any amount which may be deducted or disallowed by the insurers in relation to any Insured Risk pursuant to the excess provision in the Landlord’s or the Head
Landlord’s insurance policy for the Premises upon settlement or adjudication of any claim to be paid to the Landlord on written demand (save where such deduction or disallowance results from any act or default of the Landlord or the Head
Landlord in breach of the Landlord’s or the Head Landlord’s insurance policy);

					
		
	3.5	  	the moneys referred to in clauses 4.2 and 4.29 to be paid to the Landlord as therein provided; and
		
	3.6	  	any other moneys which are by this Lease stated to be recoverable as rent in arrear to be paid to the Landlord when specified in this Lease or if not so specified on
written demand.
		
	4	  	TENANT’S COVENANTS
		
		  	The Tenant HEREBY COVENANTS with the Landlord as follows:
		
	4.1	  	Rents
		
		  	To pay the rents reserved by this Lease at the times and in the manner aforesaid without any abatement set-off counterclaim or deduction whatsoever (save those that the
Tenant is required by law to make) and so that (subject to the Tenant having been provided with the Landlord’s bank account details) the Landlord shall receive full value in cleared funds on the date when payment is due.
		
	4.2	  	Interest on arrears
		
	4.2.1	  	Without prejudice to any other right remedy or power herein contained or otherwise available to the Landlord if any of the rents reserved by this Lease (whether formally
demanded or not) or any other sum of money payable to the Landlord by the Tenant under this Lease shall not be paid so that the Landlord receives full value in cleared funds:
			
		  	4.2.1.1	  	in the case of the Rent and any sum representing Value Added Tax chargeable in respect of or by reference to it, on the date when payment is due;
			
		  	4.2.1.2	  	in the case of the rent payable pursuant to clauses 3.2 and 3.3, within three Working Days after the date when payment becomes due; or
			
		  	4.2.1.3	  	in the case of any other rents or sums within ten Working Days after the date when payment has become due
		
		  	to pay interest thereon at the Interest Rate from the date on which payment was due to the date of payment to the Landlord (both before and after any
judgment).
		
	4.2.2	  	Without prejudice to any other right, remedy or power contained in this Lease or otherwise available to the Landlord, if the Landlord shall (acting reasonably) decline

			
		  	to accept any of the rents or other sums of money so as not to waive any existing breach of covenant (other than an immaterial breach), the Tenant shall pay interest on such rents
and other sums of money at the Interest Rate from and including the date when payment was due (or, where applicable, would have been due if demanded on the earliest date on which it could have been demanded) to the date when payment is accepted by
the Landlord.
		
	4.3	  	Outgoings
		
	4.3.1	  	To pay and discharge all existing and future rates levies taxes duties charges assessments impositions and outgoings whatsoever relating to the Premises or (where such outgoings
relate to the Premises and other premises) a due proportion thereof to be reasonably determined by the Landlord which now are or may at any time during the Term be payable in respect of the Premises whether by the owner or the occupier of them
(excluding any tax payable by the Landlord occasioned by the grant of this Lease, the receipt by the Landlord of the rents reserved by this Lease and any disposition of or dealing with the reversion to this Lease).
		
	4.3.2	  	In the last five years of the Term and if required by the Landlord to consult with the Landlord with regard to any outgoings as aforesaid and to have regard to any representations
made by the Landlord in respect of any assessments related thereto or appealing or contesting the same or withdrawing any contest or appeal or agreeing with the relevant authorities on any settlement compromise or conclusion in respect thereof (save
where the action of the Landlord would have an adverse impact on the Tenant’s business).
		
	4.3.3	  	To pay all charges for electricity telephone water gas (if any) and other services consumed in the Premises and all sewerage and environmental charges relating to the Premises
including any standing charge, connection charge and meter installation costs and rents.
		
	4.4	  	Repairs
		
	4.4.1	  	To repair, keep and maintain in good and substantial repair and condition the Premises (damage by the Insured Risks and Uninsured Risks excepted save to the extent that payment of
the insurance moneys in relation to the Insured Risks shall be withheld in whole or in part by reason of any act or default of the Tenant any undertenant or other occupier of the Premises or anyone at the Premises with the authority of any of them)
and, as often as may be necessary, reinstate, rebuild or renew each part of them.

					
	4.4.2	  	To replace from time to time any of the Landlord’s fixtures and fittings which become in need of replacement with new ones which are similar in type and quality.

		
	4.4.3	  	To keep all parts of the Premises as are not built on in a good and clean condition, adequately surfaced and free from weeds, and any landscaped areas properly
cultivated and maintained and any trees preserved.
		
	4.5	  	Plant and machinery
		
		  	To keep all plant machinery and other equipment (not being moveable property of the Tenant or any undertenant) in the Premises properly maintained and in good working
order and condition and for that purpose to employ reputable contractors regularly to inspect, maintain and service the same.
		
	4.6	  	Decorations
		
		  	In every Decoration Year and also in the last three months of the Term howsoever determined (but not more than once in the last eighteen months of the Term and not in
the last year of the Term if the Tenant renews this Lease or enters into a Further Lease (as defined in clause 10) unless that is a Decoration Year) in a good and workmanlike manner to prepare and decorate (with two coats at least of good quality
paint) or otherwise treat as appropriate all parts of the Premises required to be so treated and as often as may be reasonably necessary to wash down all washable surfaces such decorations and treatment in the last year of the Term to be executed in
such colours and materials as the Landlord may reasonably require.
		
	4.7	  	Cleaning
		
		  	To keep the Premises in a clean and tidy condition.
		
	4.8	  	Yield up
		
	4.8.1	  	Immediately prior to the expiration or sooner determination of the Term (unless the Tenant renews this Lease or enters into a Further Lease as defined in clause 10) at
the cost of the Tenant:
			
		  	4.8.1.1	  	to replace any of the Landlord’s fixtures and fittings which shall be missing or beyond economic repair with new ones of similar kind and quality;
			
		  	4.8.1.2	  	to remove from the Premises any moulding or sign of the name or business of the Tenant or occupiers and all tenant’s fixtures fittings furniture and effects and to make good to
the reasonable satisfaction of the Landlord all damage caused by such removal;

					
			
		  	4.8.1.3	  	if required by the Landlord to remove all video data and sound communications conducting material installed in the Premises by or at the request of the Tenant or any undertenant;
and
			
		  	4.8.1.4	  	if and to the extent required by the Landlord to put or reinstate the Premises in or to a condition commensurate with the Building Specification which, for the avoidance of doubt
but without prejudice to the generality of the foregoing, shall include the removal of alterations and additions carried out by or on behalf of the Tenant whether before or after the commencement of the Term and the making good of all damage caused
by such removal in all cases to the Landlord’s reasonable satisfaction.
		
	4.8.2	  	Notwithstanding clause 4.8.1 above, the Tenant shall be entitled to request the Landlord’s advice in connection with which (if any) of the Tenant’s alterations
it is required to reinstate which advice shall be given by the Landlord to the Tenant in a timely manner in order to facilitate the carrying out of the relevant works before the end of the Term.
		
	4.8.3	  	At the expiry or sooner determination of the Term (unless the Tenant renews this Lease or enters into a Further Lease as defined in clause 10) quietly to yield up the
Premises to the Landlord in good and substantial repair and condition in accordance with the covenants and other obligations on the part of the Tenant contained in this Lease.
		
	4.9	  	Rights of entry by Landlord and Head Landlord
		
	4.9.1	  	To permit the Landlord with all necessary materials and appliances at all reasonable times upon reasonable prior notice not being less than 48 hours (except in cases of
emergency) to enter and remain upon the Premises subject to the Landlord (and those authorised by the Landlord) complying with the conditions of entry set out in clause 4.9.3:
			
		  	4.9.1.1	  	to view and examine the state and condition of the Premises and to take schedules of the landlord’s fixtures;
			
		  	4.9.1.2	  	to exercise any of the rights excepted and reserved by this Lease;

					
			
		  	4.9.1.3	  	for any other reasonable purpose properly connected with the management of or the interest of the Landlord in the Premises.
		
	4.9.2	  	To allow the Landlord and Head Landlord, and persons authorised by them, to enter the Premises to perform the tenant covenants and conditions in the Head Lease to
prevent forfeiture of the Head Lease subject to the Landlord (but not the Head Landlord to the extent such conditions are more onerous than those contained in the Head Lease) and those authorised by the Landlord complying with the conditions of
entry set out in clause 4.9.3.
		
	4.9.3	  	At all times when exercising any right of entry under this Lease (except pursuant to clause 7.1), the Landlord (but not the Head Landlord) and those authorised by the
Landlord shall:
			
		  	4.9.3.1	  	cause (and procure that all those exercising the right cause) as little inconvenience and damage and interference as reasonably possible to the Premises and all fittings and
equipment within the Premises;
			
		  	4.9.3.2	  	make good as soon as reasonably practicable any physical damage caused to the Premises and all fixtures and fittings to the reasonable satisfaction of the Tenant or other lawful
occupier;
			
		  	4.9.3.3	  	give reasonable written notice to the Tenant of not less than 48 hours (save in the case of emergency) of such entry; and
			
		  	4.9.3.4	  	comply with the Tenant’s reasonable security requirements including without limitation any restrictions on access and entry to any areas designated as being confidential by the
Tenant which require the Landlord and any persons authorised by the Landlord to be accompanied by the Tenant or its representatives.
		
	4.10	  	To comply with notices
		
	4.10.1	  	The Landlord may give written notice (the “First Notice”) to the Tenant specifying a breach of the obligations in this Lease and requiring the Tenant to
remedy the breach in question.
		
	4.10.2	  	If the Tenant shall fail within 20 Working Days of receipt of the First Notice (or as soon as reasonably possible after receipt in case of emergency) to commence and
then diligently to continue to comply with the First Notice the Landlord may serve a further notice (the “Warning Notice”) on the Tenant specifying the breach

			
		  	referred to in the First Notice requiring the Tenant to remedy the breach and stating that the Landlord proposes to enter the Premises to exercise the rights contained in clause
4.10.3.
		
	4.10.3	  	If the Tenant shall fail within ten Working Days of receipt of the Warning Notice (or as soon as reasonably possible in case of emergency) to commence and then diligently to
continue to comply with the Warning Notice the Landlord may then without further notice enter the Premises and carry out or cause to be carried out all or any of the works referred to in the Warning Notice and all proper costs and expenses thereby
incurred shall be paid by the Tenant to the Landlord on demand and in default of payment shall be recoverable as rent in arrear
		
	4.11	  	Overloading floors and services and installation of wiring etc.
		
	4.11.1	  	Not to do anything which may subject the Premises to any strain beyond that which it is designed to bear with due margin for safety and to pay to the Landlord on demand all proper
costs reasonably incurred by the Landlord in obtaining the opinion of a qualified structural engineer as to whether the structure of the Premises is being or is about to be overloaded.
		
	4.11.2	  	To observe the weight limits prescribed for all lifts in the Premises.
		
	4.11.3	  	Not to use or permit or suffer to be used any electrical or electronic apparatus or equipment that does not comply with any relevant British standard or code of practice (or any
replacement thereof) relating to such apparatus or equipment and in addition not to install or use any electrical or electronic equipment or apparatus unless it has been fitted with an efficient suppresser so as to prevent any interference with
radio or television reception telecommunications transmission electrical or electronic apparatus or equipment or the operation of any other equipment in any Adjoining Property, where such apparatus or equipment is that normally used in office
buildings.
		
	4.12	  	Pipes
		
		  	Not to overload or obstruct any Pipes or discharge into any Pipes any oil or grease or any noxious or deleterious substance which may cause an obstruction or become a source of
danger or injure the Pipes or the drainage system of the Premises or any Adjoining Property.

			
	4.13	  	Dangerous materials and use of machinery
		
		  	Not to bring in any part of the Premises anything which is or is likely to become dangerous offensive combustible especially inflammable radioactive or explosive or which might
increase the risk of fire or explosion or which would cause or be likely to cause nuisance annoyance disturbance or damage to the Landlord or any tenant owner or occupier of any Adjoining Property PROVIDED THAT this clause shall not prevent the use
of goods and machinery utilised in connection with a modern office building and the activities carried on thereat or (in relation to any area designated for car parking) items usually found in car parks.
		
	4.14	  	User
		
	4.14.1	  	Not to use or occupy the Premises for any purpose except for the Permitted User.
		
	4.14.2	  	Not to use the Premises or any part thereof for any auction or public or political meeting public exhibition or show or for public entertainment or for gaming or playing
amusement machines or for gambling or as a sex shop or as a club or for the business of a turf accountancy estate agency undertaker travel agency staff or employment agency or Government Department where services are provided principally to visiting
members of the public without appointment.
		
	4.14.3	  	Not to use the Premises or any part thereof for any dangerous noisy noxious or offensive trade business or occupation whatsoever nor for any illegal or immoral purpose nor for
residential or sleeping purposes save for any sleeping pods or bedrooms ancillary to the Permitted User and which do not constitute a private residence or an hotel.
		
	4.14.4	  	Not to use the Premises for any purpose which is a nuisance or causes damage to the Head Landlord or to owners or occupiers of any Adjoining Property or which involves any
substance which may be harmful, polluting or contaminating.
		
	4.14.5	  	Not to leave the Premises continuously unoccupied for more than thirty days without providing such caretaking and security arrangements as are reasonable in the circumstances in
order to protect the Premises and their contents and to deal with any emergency.
		
	4.14.6	  	To provide the Landlord with a set of keys to the Premises to enable the Landlord or its agents and others authorised by the Landlord to enter the Premises in cases of emergency
in accordance with the provisions of this Lease.

							
		
	4.15	  	Alterations signs and visual amenity
		
	4.15.1	  	Not to:
			
		  	4.15.1.1	  	demolish the Premises; or
			
		  	4.15.1.2	  	erect any new building or buildings on the Premises; or
			
		  	4.15.1.3	  	merge or combine the Premises with any adjoining or neighbouring premises; or
			
		  	4.15.1.4	  	make any alterations which materially increase or diminish the lettable floor area of the Premises (but (subject to clause 4.15.1.5) only to the extent that this is
prohibited by the Head Landlord); or
			
		  	4.15.1.5	  	make any alterations which would reduce the Net Internal Area of the Office Premises (as those terms are defined in the Head Lease) below 255,861 square feet or increase
the Net Internal Area of the Office Premises above 282,794 square feet PROVIDED THAT notwithstanding the foregoing (and subject to the provisions of the Head Lease and clause 4.15.2) the Tenant may make alterations which would reduce the Net
Internal Area of the Office Premises by 14,734 square feet or increase the Net Internal Area of the Office Premises by 12,199 square feet from the Net Internal Area of the Office Premises as at the date of this Lease;
			
		  	4.15.1.6	  	make any alterations or additions to the Premises which would render the Premises unfit for letting as high class offices and retail units.
		
	4.15.2	  	Not without the consent of the Landlord (such consent not to be unreasonably withheld or delayed) and the consent of the Head Landlord:
			
		  	4.15.2.1	  	to make any external alterations to the Premises other than those expressly permitted in clause 4.15.3 but including (without limitation) alterations to the shop front
or fascia of any Retail Unit (as that term is defined in the Head Lease); or
			
		  	4.15.2.2	  	to make any structural alterations to the Premises other than
				
		  		  	(a)	  	those expressly prohibited in clause 4.15.1 or
				
		  		  	(b)	  	those expressly permitted in clause 4.15.3.

					
		
	4.15.3	  	Notwithstanding (but subject always to) clauses 4.15.1 and 4.15.2 the Tenant may without the consent of the Landlord:
			
		  	4.15.3.1	  	make minor structural alterations which do not affect the structural integrity of the Premises;
			
		  	4.15.3.2	  	make minor external alterations; and
			
		  	4.15.3.3	  	make internal non-structural alterations (including the erection and removal of demountable partitioning).
		
	4.15.4	  	Within ten Working Days following completion of any alterations or additions carried out pursuant to clauses 4.15.2 and 4.15.3 (together the “Alterations”) the
Tenant shall (i) supply to the Landlord a set of as-built drawings and specifications showing the Alterations as actually carried out together with appropriate structural calculations (if applicable) and (ii) make available for inspection by the
Landlord a copy of the health and safety file kept pursuant to the Construction (Design Management) Regulations 2007 and any subsequent legislation of a similar nature.
		
	4.15.5	  	Not without obtaining the prior written consent of the Landlord and the Head Landlord in accordance with the terms of the Head Lease, such consent not to be unreasonably
withheld or delayed, to erect any sign notice or advertisement which is visible from outside the Premises subject to the proviso contained in clause 4.11 of the Headlease.
		
	4.15.6	  	Promptly to make good all damage caused to any parts of the Premises or any Adjoining Property in the carrying out of any alterations or additions.
		
	4.15.7	  	So far as practicable and so long as it is economically viable in carrying out any alterations to use materials from sustainable sources and to have due regard to the
impact of such alterations upon the EPC rating for the Premises.
		
	4.16	  	Works carried out to the Premises
		
		  	Without prejudice to the provisions of clause 4.15 or to any covenants and conditions which the Landlord may lawfully require or impose in giving consent for alterations
or additions to the Premises, pursuant to the terms of this Lease the Tenant shall carry out any alterations additions repairs replacements or other works to or in respect of the Premises in a good and workmanlike manner without using materials
which are known or suspected to be deleterious and in accordance with the reasonable requirements of the Landlord notified in writing to the Tenant when giving consent.

			
	4.17	  	Alienation
		
	4.17.1	  	Not to assign or charge any part or parts (as distinct from the whole) of the Premises and not to agree so to do.
		
	4.17.2	  	Not to part with possession of or share the occupation of the whole or any part or parts of the Premises or agree so to do save in relation to an assignment of the whole of the
Premises or permit any person to occupy the same save by way of an assignment of whole or underlease of the whole of the Premises or a Permitted Part in accordance with the provisions of this clause PROVIDED THAT nothing contained in this clause
shall prevent the Tenant from sharing occupation of the whole or any part or parts of the Premises with an Entity which is a Group Company of the Tenant so long as such occupation shall not create the relationship of landlord and tenant between the
Tenant and the Group Company and notice of the sharing of occupation and the name of the Group Company is given to the Landlord before the sharing begins and the sharing immediately comes to an end whenever the relevant Group Company ceases to be a
Group Company of the Tenant and notice of the ceasing of sharing occupation is given forthwith to the Landlord. For the avoidance of doubt, there shall be no limit on the number of Group Companies permitted to share occupation pursuant to this
clause and any such sharing shall count as one unit of occupation.
		
	4.17.3	  	Not to underlet the whole of the Premises or a Permitted Part otherwise than in accordance with the provisions of this clause 4.17 and subject thereto to procure that any
underletting is on such terms (including length of term) as shall be in accordance with the principles of good estate management.
		
	4.17.4	  	Not to underlet the whole of the Premises otherwise than on the condition that if the Landlord shall reasonably so require, the Tenant shall obtain an acceptable guarantor for any
proposed undertenant and such guarantor shall execute and deliver to the Landlord a deed containing covenants by that guarantor (or, if more than one, joint and several covenants) with the Landlord, as a primary obligation, in the terms contained in
the fourth schedule (with any necessary changes).
		
	4.17.5	  	Not to underlet the whole of the Premises or a Permitted Part at a fine or a premium or at a rent less than the open market rental value of the Premises at the time of such
underlease or, where a Permitted Part is underlet, the open market rental value of the Permitted Part.

							
	4.17.6	  	Without prejudice to the foregoing provisions not to charge or underlet the whole of the Premises without the prior written consent of the Landlord such consent not to
be unreasonably withheld or delayed nor to assign the whole of the Premises otherwise than in strict compliance with clauses 4.17.16 to 4.17.19.
		
	4.17.7	  	Prior to any permitted underlease to procure that the undertenant enters into direct covenants with the Landlord and the Head Landlord as follows:
			
		  	4.17.7.1	  	an unqualified covenant by the undertenant that the undertenant shall not assign or charge (or agree so to do) any part or parts (as distinct from the whole) of the
Premises and shall not (save by way of an assignment of the whole) part with possession of or share the occupation of the whole or any part of the Premises or agree so to do or permit any person to occupy the same save that:
				
		  		  	(a)	  	where the Tenant has underlet the whole of the Premises, the undertenant may further underlet the Premises on the same terms mutatis mutandis as this clause 4.17 (as applicable to
an underletting of the Premises) but provided that there shall be no more than five further underleases of the same part of the Premises granted out of any such underlease of the whole of the Premises;
				
		  		  	(b)	  	where the undertenant has underlet a Permitted Part of the Premises, the undertenant may further underlet the Permitted Part on the same terms mutatis mutandis as this clause 4.17
(as applicable to an underletting of a Permitted Part) but provided that there shall be no more than four further underleases of the same part of the Premises granted out of any such underlease of the Permitted Part; and
				
		  		  	(c)	  	the undertenant may share occupation with Group Companies provided that no relationship of landlord and tenant is thereby created, with any such group sharing counting as one unit
of occupation and the undertenant observing the provisions of clause 4.17.2 (mutatis mutandis);

							
			
		  	4.17.7.2	  	a covenant by the undertenant that the undertenant shall not assign (or unconditionally agree to assign) the whole of the Premises without obtaining the prior written
consent of the Landlord such consent not to be unreasonably withheld or delayed; and
			
		  	4.17.7.3	  	a covenant by the undertenant to perform and observe all the tenant’s covenants and the other provisions contained in:
				
		  		  	(a)	  	this Lease so far as they relate to the premises underlet (other than the payment of the rents); and
				
		  		  	(b)	  	the permitted underlease.
		
	4.17.8	  	Every permitted underlease shall contain:
			
		  	4.17.8.1	  	provisions for the review of the rent thereby reserved (which the Tenant hereby covenants to operate and enforce) on an upwards only basis at intervals of not less than
five years (which for the avoidance of doubt need not be coincidental with the rent reviews under this Lease) in accordance with the provisions set out in the third schedule hereto mutatis mutandis and with references to “Assumed Premises”
being deemed to be references to premises demised by the permitted underlease;
			
		  	4.17.8.2	  	a covenant by the undertenant (which the Tenant hereby covenants to enforce) prohibiting the undertenant from doing or suffering any act or thing in relation to the
premises underlet in breach of the provisions of this Lease insofar as these provisions relate to the premises underlet;
			
		  	4.17.8.3	  	a condition for re-entry on breach of any covenant by the undertenant;
			
		  	4.17.8.4	  	(subject to the provisions of clause 4.17.6) the same provisions (mutatis mutandis) as are set out in clauses 4.17.16 to 4.17.19 but so that the underlease shall not be
required to include any provision equivalent to clauses 4.17.16.1 and 4.17.16.2;

					
			
		  	4.17.8.5	  	provisions requiring the landlord thereunder to insure for the loss of the principal rent payable thereunder for a period of not less than four years and limiting any cesser of rent
following damage or destruction by any insured risk to a period no greater than the period for loss of rent insurance; and
			
		  	4.17.8.6	  	covenants by the undertenant equivalent to those on the part of the Tenant contained in clauses 6.10.7 to 6.10.9.
			
	4.17.9	  		  	Not to underlet a Permitted Part constituting less than a whole floor of the Premises or including any part of the Premises which is not a whole floor except by way of Unsecured
Underletting.
			
	4.17.10	  		  	Not to underlet any floor of the Premises so as to sub-divide it into more than four units of accommodation.
			
	4.17.11	  		  	To take reasonable steps to enforce the performance and observance by every such undertenant of the covenants provisions and conditions of the underlease and not knowingly at any
time to waive any breach of the same.
			
	4.17.12	  		  	To procure that the principal rent is reviewed under any permitted underlease in accordance with the terms thereof but not to agree any reviewed rent with the undertenant without
the prior written consent of the Landlord (such consent not to be unreasonably withheld or delayed).
			
	4.17.13	  		  	Not to vary the terms or accept any surrender of any permitted underlease (or agree so to do) without the prior written consent of the Landlord (such consent not to be unreasonably
withheld or delayed).
			
	4.17.14	  		  	To procure that the rents reserved by any permitted underlease shall be payable on the usual quarter days and shall not be commuted or payable more than one quarter in advance and
not to permit the reduction of any rents reserved by any such underlease.
			
	4.17.15	  		  	To provide the Landlord with a certified copy of any notice given under the Landlord and Tenant Act 1954 to the Tenant by an undertenant as soon as reasonably practicable following
receipt of the same by the Tenant.
			
	4.17.16	  		  	For the purposes of section 19(1A) of the Landlord and Tenant Act 1927 it is agreed that the Landlord may withhold consent to an assignment of the whole of the Premises
if:
			
		  	4.17.16.1	  	the proposed assignee is not an Acceptable Assignee; or

							
			
		 	4.17.16.2	  	the proposed assignee is an Entity which is a Group Company of the Tenant which either:
				
		 		  	(a)	  	has not continuously for a period of one year immediately preceding the date of the application to assign maintained and which on the date of the transfer to it of this Lease
maintains a credit rating referred to in paragraph (a) of the definition of “Acceptable Assignee”; or
				
		 		  	(b)	  	would had the proposed assignee been the Tenant at any point during the period of 12 months prior to the application to assign have adversely affected the market value of the
Landlord’s interest in the Premises in the circumstances referred to in paragraph (b) of the definition of “Acceptable Assignee”; or
			
		 	4.17.16.3	  	the proposed assignee or any proposed guarantor for it is any person or Entity who has the right to claim sovereign or diplomatic immunity or exemption from liability
from the covenants on the part of the Tenant contained in this Lease; or
			
		 	4.17.16.4	  	the proposed assignee or any proposed guarantor for it is a corporation registered in or an individual resident in a jurisdiction which does not have in place procedures
for the recognition and enforcement by the court in that jurisdiction of a judgment obtained in the Courts of England and Wales so that such a judgment will not necessarily be enforced without any re-examination of the merits of the case;
or
			
		 	4.17.16.5	  	the proposed assignee or any proposed guarantor for it is any person or Entity in relation to whom any of the events mentioned in clauses 7.1.3 to 7.1.5 of this Lease
would have occurred if that person or Entity were the Tenant under this Lease; or
			
		 	4.17.16.6	  	the Rent due from the Tenant under this Lease remains unpaid; or
			
		 	4.17.16.7	  	there is a substantial outstanding breach of covenant on the part of the Tenant which relates to the repair of the Premises.

					
	4.17.17	  	For the purposes of section 19 (1A) of the Landlord and Tenant Act 1927 and section 16 of the Landlord and Tenant (Covenants) Act 1995 it is further agreed that any
consent of the Landlord to an assignment of the whole of the Premises may be subject to:
			
		  	4.17.17.1	  	a condition requiring that before the Tenant completes the assignment of this Lease the Tenant and any Guarantor jointly and severally execute and deliver to the Landlord a deed
which shall be prepared by the Landlord’s solicitors containing covenants on the part of the Tenant (and the Guarantor if required) in the form of those contained in the sixth schedule (amended as necessary to reflect that the Tenant and the
Guarantor are entering into the authorised guarantee agreement obligations jointly and severally or otherwise as the Landlord may reasonably require);
			
		  	4.17.17.2	  	a condition that the assignment is completed and registered with the Landlord in accordance with clause 4.18 within three months of the date of the consent and that if it is not the
consent shall be void;
			
		  	4.17.17.3	  	a condition that before the Tenant completes the assignment of the Lease, if the Landlord acting reasonably determines it to be necessary, one or more guarantors acceptable to the
Landlord, acting reasonably, covenant by deed with the Landlord in the form of guarantee set out in the fourth schedule; and/or
			
		  	4.17.17.4	  	a condition that prior to any permitted assignment it is procured that the assignee enters into a direct covenant with the Landlord that with effect from the date of the assignment
until the first subsequent assignment which is not an excluded assignment (as the expression is defined in the Landlord and Tenant (Covenants) Act 1995) the proposed assignee will pay the rents hereby reserved and perform and observe the covenants
by the Tenant contained in this Lease.
		
	4.17.18	  	Without prejudice to the provisions of clauses 4.17.16 and 4.17.17 the Tenant shall not assign the whole of the Premises without the prior written consent of the
Landlord and except in relation to the circumstances mentioned in clause 4.17.16 and the conditions mentioned in clause 4.17.17 such consent shall not be unreasonably withheld or delayed. The parties agree that in considering whether or not the
Landlord is reasonably withholding or delaying such consent due and proper regard shall be had to the provisions and effect of the Landlord and Tenant (Covenants) Act 1995.

			
		
	4.17.19	  	Clauses 4.17.16 and 4.17.17 shall operate without prejudice to the Landlord’s right (acting reasonably and having regard to the other provisions of such clauses) to refuse
such consent on any other ground or grounds where such refusal would be proper and reasonable or to impose further conditions upon the grant of consent where such imposition would be proper and reasonable.
		
	4.17.20	  	If at any time any one or more provisions of this clause 4.17 is or becomes invalid or illegal or unenforceable in any respect under any law the validity legality and
enforceability of the remaining provisions hereof shall not be in any way affected or impaired thereby.
		
	4.17.21	  	To the extent (if any) necessary to make the foregoing provisions of this Lease effective (but not further or otherwise) section 144 of the Law of Property Act 1925 shall not
apply.
		
	4.18	  	Registration of dispositions
		
		  	Within 30 days of every assignment transfer assent underlease assignment of underlease mortgage charge or any other disposition whether mediate or immediate of or relating to the
Premises (however remote) to supply to the Landlord a copy certified by the Tenant’s solicitors of the document evidencing or effecting such disposition and on each occasion to pay to the Landlord or its solicitors a reasonable registration
fee.
		
	4.19	  	Disclosure of information
		
		  	Whenever a party to this Lease shall reasonably request, but not more than once a year (save in the last year of the Term), to supply to the other party sufficient particulars of
all occupations and derivative and superior interests in the Premises however remote or inferior or superior. The Tenant shall in addition supply any necessary particulars of the rents and licence fees payable and any rent or licence fee review
determination thereunder and to the extent only that the Tenant already possesses the same such further or other information as the Landlord may reasonably and properly require in relation to all occupations and derivative interests in the Premises
from time to time and to supply certified copies of all documentation supplemental to or collateral with any underleases of the Premises including (without limitation) memoranda recording the rent payable following review or other determination
thereof but subject to the party making the request paying the reasonable costs of the other party of providing any information under this clause.

			
		
	4.20	  	Landlord’s costs
		
		  	Within ten Working Days of demand, to pay to the Landlord and the Head Landlord all reasonable and proper costs fees charges disbursements and expenses properly incurred by them:

		
	4.20.1	  	in relation to or in reasonable contemplation of the preparation and service of a notice under section 146 of the Law of Property Act 1925 and of any proceedings under section 146
or 147 of that Act (whether or not any right of re-entry or forfeiture has been waived by the Landlord or a notice served under section 146 is complied with by the Tenant or the Tenant is relieved under the provisions of that Act and even though
forfeiture may be avoided otherwise than by relief granted by the Court);
		
	4.20.2	  	in relation to or in reasonable contemplation of the preparation and service of all proper notices and schedules relating to wants of repair served during the Term or no later than
six months following the end of the Term (but relating only to such wants of repair for which the Tenant is liable);
		
	4.20.3	  	in connection with the proper and reasonable recovery or attempted recovery of arrears of rent or other sums overdue from the Tenant or in procuring the remedying of the breach of
any covenant by the Tenant; and
		
	4.20.4	  	in relation to any application for consent required or made necessary by this Lease (such costs to include reasonable management and monitoring fees and expenses where properly
incurred) whether or not the same is granted (except in cases where the Landlord is obliged not to unreasonably withhold its consent and the withholding of its consent is unreasonable or where any conditions to consent are not properly imposed) or
whether the application be withdrawn,
		
		  	and in relation to any payment due pursuant to clauses 4.20.1 to 4.20.3, on an indemnity basis.
		
	4.21	  	Statutory requirements
		
	4.21.1	  	At the Tenant’s own expense to comply in all respects with every statute now in force or which may after the date of this Lease be in force and any other obligation imposed by
law and all regulations laws or directives made or issued by or with the authority of The European Commission and/or The Council of Ministers relating to the Premises or their use, including (without prejudice to the generality of
this

			
		  	clause) the Offices, Shops and Railway Premises Act 1963, the Fire Precautions Act 1971, the Defective Premises Act 1972, the Health and Safety at Work etc. Act 1974 and the
Environmental Protection Act 1990 insofar as such statute or obligation relates to the Premises and compliance with such statute or other obligation is not required due to the default of the Landlord in performing any obligation in this
Lease.
		
	4.21.2	  	To execute all works and provide and maintain all arrangements on or in respect of the Premises or their use which are required by any statute now in force or which may after the
date of this Lease be in force or by any government department, local, public or other competent authority or court of competent jurisdiction acting under or in pursuance of any statute, whether any of the same are required to be carried out by the
landlord, tenant or occupier, and shall indemnify the Landlord against all costs, charges, fees and expenses of, or incidental to, the execution of any works or the provision or maintenance of any arrangements so required provided that such
obligation does not arise due to the default of the Landlord in performing any obligation in this Lease.
		
	4.21.3	  	Not to do or omit to be done in or near the Premises any act or thing by reason of which the Landlord or any owner or occupier of any Adjoining Property may under any statute or
non-statutory regulations become liable to pay any penalty damages compensation costs charges or expenses.
		
	4.22	  	Planning Acts
		
	4.22.1	  	To comply with the provisions and requirements of the Planning Acts and to indemnify and keep the Landlord indemnified against all actions proceedings demands costs expenses and
liability in respect of any contravention.
		
	4.22.2	  	Not to apply for planning permission or for other consents required under the Planning Acts in respect of the Premises or for certificates or determinations as to lawful use without
the prior written consent of the Landlord, such consent not to be unreasonably withheld or delayed where under the relevant provisions of this Lease the consent of the Landlord is not required or cannot be unreasonably withheld in respect of the
matters the subject of the application provided that no such consent is required in relation to any alterations which the Tenant is permitted to make without the consent of the Landlord.
		
	4.22.3	  	At the Tenant’s own expense to obtain and, if appropriate, renew any planning permission and any other consent and serve all necessary notices required for the carrying out by
the Tenant of any operations or the commencement or continuance of any use of the Premises.

					
		
	4.22.4	  	To pay and satisfy any charge or levy that may hereafter be lawfully imposed under the Planning Acts in respect of any Development by the Tenant on or at the Premises.

		
	4.22.5	  	The Tenant shall not implement any planning permission or consent required under the Planning Acts before it has been produced to and approved in writing by the Landlord
such approval not to be unreasonably withheld or delayed.
		
	4.22.6	  	Unless the Landlord shall otherwise direct to carry out and complete before the expiration or sooner determination of the Term:
			
		  	4.22.6.1	  	any works stipulated to be carried out to the Premises as a condition of any planning permission granted during the Term and implemented by the Tenant or any undertenant;
and
			
		  	4.22.6.2	  	any Development begun upon the Premises by the Tenant or any undertenant in respect of which the Landlord shall or may be or become liable for any charge or levy under the Planning
Acts.
		
	4.22.7	  	If and when called upon so to do to produce to the Landlord as soon as reasonably practicable following demand and at the Landlord’s cost all plans documents and
other evidence as the Landlord may reasonably require in order to satisfy itself that the provisions of this clause have been complied with in all respects.
		
	4.23	  	Statutory notices
		
		  	Within 14 days after receipt of the same (or sooner if requisite having regard to the time limits stated therein) to produce to the Landlord a copy and any further
particulars reasonably required by the Landlord of any notice or order or proposal given to the Tenant and relevant to the Premises or the occupiers thereof and without delay to take all necessary steps to comply with the notice or order so far as
the same is the responsibility of the Tenant and at the request and cost of the Landlord to make or join with the Landlord in making such objection or representation against or in respect of any such notice order or proposal as the Landlord shall
deem expedient (acting reasonably) unless the Tenant reasonably considers that to do so would materially prejudice its commercial interests.

			
		
	4.24	  	Defective premises
		
		  	Immediately upon becoming aware of the same, to give written notice to the Landlord of any defect in the Premises which might give rise to an obligation on the Landlord to do or
refrain from doing any act or thing so as to comply with the duty of care imposed on the Landlord pursuant to the Defective Premises Act 1972 and at all times to display and maintain all notices which the Landlord may from time to time reasonably
require in order to satisfy such provisions to be displayed in relation thereto.
		
	4.25	  	Fire precautions and equipment etc.
		
		  	To comply with the requirements of the insurers of the Premises in relation to fire precautions affecting the Premises.
		
	4.26	  	Encroachments and easements
		
	4.26.1	  	Save as part of any alterations to which the Landlord has given its consent in accordance with an application made by the Tenant pursuant to clause 4.15 not without the consent of
the Landlord (such consent not to be unreasonably withheld or delayed) to stop up or obstruct (other than to an immaterial extent in the context of the Premises taken as a whole) any of the windows or lights belonging to the Premises nor to
knowingly permit any new window opening doorway passage Pipes or other encroachment or easement to be made or acquired into upon or over the Premises or any part thereof and in case any person shall attempt to make or acquire any encroachment or
easement to give written notice thereof to the Landlord immediately the same shall come to the notice of the Tenant and at the reasonable request and cost of the Landlord to adopt such means as may be reasonably required by the Landlord for
preventing any such encroachment or the acquisition of any such easement.
		
	4.26.2	  	Not to give to any person any acknowledgement that the Tenant enjoys the access of light to any of the windows or openings of the Premises by the consent of such person nor to pay
any sum of money or enter into any agreement with any person for the purpose of inducing or binding such person to abstain from obstructing the access of light to any of the windows or openings and in the event of any person doing or threatening to
do anything which obstructs the access of light to any of the windows or openings forthwith to notify the Landlord of the same after becoming aware of the same.

			
		
	4.27	  	Reletting and sales
		
		  	To permit all persons with the written authority of the Landlord to view the Premises at all reasonable hours in the daytime upon prior appointment having been made provided that
any such entry permitted by this clause 4.27 shall be on the terms and in accordance with the conditions of entry set out in clause 4.9.3.
		
	4.28	  	Indemnity
		
		  	To keep the Landlord fully indemnified from and against all reasonably foreseeable actions proceedings claims demands losses costs expenses damages and liability arising from any
breach of the Tenant’s covenants or other obligations contained in this Lease provided that the Landlord shall notify the Tenant of any such liability and take all reasonable steps to mitigate such liability having regard to the nature of the
breach.
		
	4.29	  	Value Added Tax
		
	4.29.1	  	Where, pursuant to the terms of this Lease, the Landlord or any other person (for the purposes of this clause 4.29.1, the “Supplier”) makes or is deemed to make a
supply to the Tenant for Value Added Tax purposes and Value Added Tax is or becomes chargeable on such supply, the Tenant shall (a) if any other consideration given for such supply consists wholly of money, at the same time as paying such other
consideration; or (b) if such other consideration does not consist wholly of money, on demand, pay to the Supplier (in addition to any other consideration for such supply) a sum equal to the amount of such Value Added Tax and the Supplier shall
provide the Tenant with a Value Added Tax invoice in respect of such supply in accordance with the requirements of the Value Added Tax Act 1994.
		
	4.29.2	  	Where, pursuant to the terms of this Lease, the Tenant is required to reimburse the Landlord or any other person (for the purposes of this clause 4.29.2, the
“Recipient”) for any cost, fee, charge, disbursement or expense (or any proportion of it), the Tenant shall also reimburse the Recipient for any part of such cost, fee, charge, disbursement or expense (or proportion of it) which
represents Value Added Tax, save to the extent that the Recipient is entitled to credit or repayment in respect of such Value Added Tax from H M Revenue & Customs.
		
	4.29.3	  	For the avoidance of doubt the Landlord shall not be under a duty to exercise or not to exercise any option or right conferred on the Landlord by the legislation relating to Value
Added Tax (including any regulations made thereunder) so as to reduce or avoid any liability to Value Added Tax referred to in clauses 4.29.1 or 4.29.2 above or so as to entitle or enable the Landlord to so obtain a credit for such Value Added Tax
as referred to in clause 4.29.2 above.

			
		
	4.29.4	  	Not to use the whole or any part of the Premises in such a way or otherwise act in a manner as would cause the option to tax made by the Landlord in respect of the Premises to be
disapplied.
		
	4.29.5	  	To provide to the Landlord as soon as may reasonably be practicable such information and supporting evidence as the Landlord may reasonably require to determine whether supplies of
goods and services to the Tenant under this Lease are taxable or exempt for the purposes of Value Added Tax, and to notify the Landlord, as and when they occur, of changes which render that information incorrect or likely to be
incorrect.
		
	4.30	  	Covenants affecting reversion
		
		  	 To perform and observe the provisions of the deeds and documents referred to in the fifth schedule hereto so far as the same are still
subsisting and capable of taking effect and relate to or affect the Premises (other than the Head Lease and the
 Copthall Avenue Head Lease).

		
	4.31	  	To comply with Headlease and Management Agreement
		
	4.31.1	  	Save to the extent that the Landlord covenants to perform the same pursuant to clause 5.5 not to do or permit or omit to be done anything which would constitute a breach of
covenants conditions exceptions and reservations contained in the Head Lease as at the date of this Lease.
		
	4.31.2	  	To provide to the Landlord all relevant information requested by the Landlord necessary to enable the Landlord to comply with its obligations pursuant to the Head
Lease.
		
	4.31.3	  	To comply with the obligations on the part of the Landlord contained in the management agreement dated 21 March 2006 between the Head Landlord (1) and the Landlord (2).

		
	4.32	  	EPC
		
		  	So far as practicable and economically viable to have due regard to the impact of any activity carried on at the Premises upon the EPC rating for the Premises (subject to clause
4.15.7).

			
		
	4.33	  	Land Registry Matters
		
	4.33.1	  	To apply to the Land Registry on Form AP1 within the period of 20 Working Days beginning on the date of the Lease for registration of the Lease and when the Land Registry confirms
that the registration applications have been completed to supply the Landlord with satisfactory evidence of this.
		
	4.33.2	  	To submit to the Land Registry together with its own application for registration of the Lease against the title numbers referred to in the fifth schedule and for registration of
easements any application for EID designation required by the Landlord (subject to the Landlord providing to the Tenant completed Forms EX1 and EX1A together with a cheque for the requisite fee) provided that if the Tenant’s applications are
not both submitted at the same time then the Landlord’s application for EID designation shall be submitted together with the first application to be submitted.
		
	4.33.3	  	At the end or sooner determination of the Term to apply to the Land Registry for the cancellation of any entry or notice of or relating to this Lease on the Landlord’s title
and to provide all reasonable assistance required by the Landlord to remove such entries and requesting closure of the title under which this Lease is registered.
		
	5	  	LANDLORD’S COVENANTS
		
		  	THE Landlord COVENANTS (but so that the covenant on the part of the Landlord is a covenant to do or not to do that which is covenanted for so long only as the Landlord remains
entitled to the reversion immediately expectant on the determination of the Term) with the Tenant as follows:
		
	5.1	  	that the Tenant paying the rents reserved by this Lease and performing and observing the covenants on the part of the Tenant contained in this Lease may peaceably hold and enjoy the
Premises during the Term without any interruption by the Landlord or any person lawfully claiming through under or in trust for it or by any person with title paramount;
		
	5.2	  	to use best endeavours to enforce the obligations of the Head Landlord in the Head Lease;
		
	5.3	  	at the cost of the Tenant to use best endeavours to pursue and obtain consents and approvals required under the Head Lease following application made by the Tenant;

			
		
	5.4	  	wherever this Lease provides that any approval or consent or licence of the Landlord is not to be unreasonably withheld, not to unreasonably withhold or delay such approval, consent
or licence;
		
	5.5	  	to observe and perform the conditions and covenants imposed on the tenant in clauses 3.1, 3.2, 4.1, 4.2, 4.4, 4.5, 4.14, 4.17, 4.23 (to the extent that such Liabilities arise as a
result of the act or default of the Landlord), 4.24 (in relation to any breach by the Landlord of its obligations under this clause), 4.27 and 6 of the Head Lease but so that the Landlord shall have no liability to the Tenant for any breach of this
obligation where such breach arises by reason of a breach by the Tenant of the covenants and conditions to be observed and performed by the Tenant under this Lease;
		
	5.6	  	at the request and cost of the Tenant to use all reasonable endeavours to enforce the obligations on the part of the Head Landlord contained in the management agreement referred to
in clause 4.31.3 and those of the parties to the deeds referred to in paragraph 2 of the fifth schedule;
		
	5.7	  	as soon as reasonably practicable to supply to the Tenant a copy of any notice served on the Landlord in relation to the Premises (including any notice served by the Head Landlord);

		
	5.8	  	as soon as reasonably practicable following written request to provide to the Tenant such contact details in relation to the Head Landlord as are then held by the Landlord;
and
		
	5.9	  	not without the consent of the Tenant (such consent not to be unreasonably withheld or delayed) to give approval to the Head Landlord’s sign pursuant to paragraph 5 of part 2
of the First Schedule to the Head Lease.

			
	6	  	LANDLORD’S INSURANCE
		
	6.1	  	Landlord’s insurance
		
	6.1.1	  	The Landlord shall enforce the covenants of the Head Landlord in the Head Lease relating to insurance of the Premises and shall request and use best endeavours to procure that the
Head Landlord insures against such other risks as reasonably requested by the Tenant (subject to such exclusions and limitations as may be imposed by the insurers).
		
	6.1.2	  	The Landlord covenants to allow to the Tenant the full benefit of the covenants in the Head Lease given by the Head Landlord in relation to insurance of the Premises and subject to
the terms of this Lease to comply with its obligations as tenant in clause 6.2 of the Head Lease in so far as and to the extent that such obligations are not made the responsibility of the Tenant pursuant to this Lease.
		
	6.1.3	  	If the Head Landlord ceases to be obliged for any reason to insure the Premises, the Landlord shall insure the Premises on the same terms as the Head Landlord was required to do
under the terms of the Head Lease whether or not the Head Lease still subsists and shall insure against such other risks as reasonably requested by the Tenant (subject to the same being insurable and subject to such exclusions and limitations as may
be imposed by the insurers).
		
	6.1.4	  	The Landlord shall insure against loss of rents (including any Value Added Tax payable on the rents and taking into account the Landlord’s or the Landlord’s
surveyor’s reasonable estimate of any likely increase in the rents in accordance with the third schedule) due to loss or damage by the Insured Risks for such period as the Landlord or the Tenant may reasonably require (being not less than five
nor more than seven years) and in the event of any disagreement as to the length of the loss of rent insurance period, the longer period shall prevail.
		
	6.1.5	  	The Landlord shall insure against third party and employer’s liability and such other insurances as the Landlord (acting reasonably) may require in such amount as the Landlord
or the Landlord’s surveyor reasonably determines as appropriate for a high class building in the City of London.
		
	6.1.6	  	Following damage or destruction to the Premises by an Insured Risk (which is not, while the Head Landlord is obliged to insure the Premises, a Default Uninsured Risk), the Landlord
shall (subject to the Tenant complying with its obligations pursuant to clause 6.3.9) use reasonable endeavours to obtain all planning and

			
		  	other consents necessary to rebuild and reinstate the Premises as soon as reasonably practicable and when the consents have been obtained and subject to receiving the insurance
proceeds (which the Landlord shall use best endeavours to obtain and making up any deficiency out of its own monies) the Landlord shall proceed to rebuild and reinstate the Premises as soon as reasonably practicable substantially as they were before
the destruction or damage in modern form if appropriate but not necessarily identical in layout and shall in addition reinstate the accesses to the Premises if so destroyed or damaged and shall notify the Tenant as soon as is reasonably practicable
after such damage has occurred but in any event within twelve months of the date of such damage of its programme and proposals for such reinstatement and keep the Tenant reasonably informed of the progress of such reinstatement and use reasonable
endeavours to procure warranties in an industry standard form in favour of the Tenant from the contractor and professional team.
		
	6.2	  	Provision of information
		
		  	On reasonable written request, the Landlord, on receipt of the same from the Head Landlord, will provide the Tenant with a written summary and details of the Head Landlord’s
insurance and a copy of the insurance policies together with evidence of the payment of the most recent premiums in respect of that insurance and the Landlord covenants to request and use best endeavours to obtain the same (and any other information
relating to the Head Landlord’s obligations to insure under the Head Lease reasonably required by the Tenant) from the Head Landlord on reasonable written request from the Tenant and to provide the same to the Tenant on reasonable written
request if the Landlord insures.
		
	6.3	  	Tenant’s obligations
		
		  	The Tenant is:
		
	6.3.1	  	if the Landlord or Head Landlord has expressly agreed to insure alterations and additions to the Premises to notify the Landlord of the reinstatement value of such alterations and
additions made by the Tenant or any undertenant excluding the value of tenant’s and trade fixtures forming part of these alterations and improvements;
		
	6.3.2	  	save in relation to Default Uninsured Risks not to put in place insurance cover for the Premises against the Insured Risks;

			
		
	6.3.3	  	to maintain third party and employer’s liability insurance in respect of the Tenant’s use and occupation of the Premises;
		
	6.3.4	  	on reasonable request to provide to the Landlord written details of any policy or policies of insurance maintained by the Tenant under this clause 6.3 together with evidence for the
payment of the most recent premiums in respect of those insurance policies;
		
	6.3.5	  	if it receives any insurance moneys in respect of the Premises in respect of insurance placed in breach of clause 6.3.2 to notify the Landlord of the amount of such insurance moneys
it receives and to hold such insurance moneys upon trust for the Landlord and the Landlord covenants to apply such moneys to the reinstatement of the Premises in accordance with clause 6.1.6;
		
	6.3.6	  	to notify the Landlord immediately in writing of any damage to or destruction of the Premises by any of the Insured Risks of which the Tenant becomes aware;
		
	6.3.7	  	to notify the Landlord immediately in writing of any reason known to the Tenant why the Landlord’s or Head Landlord’s insurances in respect of the Premises may become void
or voidable;
		
	6.3.8	  	where reasonably required to do so by the Landlord to enable the Landlord to comply with its obligations in respect of reinstatement provided that a suspension pursuant to clause
6.4 applies to the whole of such vacation period (including any reasonable period during which the Tenant is in the course of vacating), to vacate the Premises (or a relevant part); and
		
	6.3.9	  	if the payment of any insurance monies is refused in whole or in part by reason of any act or default of the Tenant any undertenant or any other occupier of the Premises or any
person at the Premises with the authority of any of them to pay to the Landlord or to whomever the Landlord so directs a sum equal to the payment so refused and the Landlord covenants to apply such sum to the reinstatement of the Premises pursuant
to its obligations under this Lease and the Head Lease.

					
		
	6.4	  	Suspension of Rent
		
	6.4.1	  	If the whole or part of the Premises are damaged or destroyed by an Insured Risk (including for the avoidance of doubt a Default Uninsured Risk) (save to the extent
that the payment of insurance monies are refused in whole or in part by reason of any act or default of the Tenant any undertenant or any other occupier of the Premises or any person at the Premises with the authority of any of them) the Rent (or a
fair proportion of it according to the extent that the Premises are unfit for occupation and use or inaccessible) will be suspended for the period from and including the date of such damage or destruction to and including the earlier
of:
			
		  	6.4.1.1	  	the date on which the Premises are fit for use accessible and reinstated; and
			
		  	6.4.1.2	  	the date on which the loss of rent period referred to in clause 6.1.4 expires
		
		  	and the Landlord shall refund to the Tenant any Rent paid by the Tenant in respect of the period after the date of such damage or destruction and relating to the
period of any such suspension.
		
	6.4.2	  	With effect from the date of damage or destruction by a Market Uninsured Risk, the Rent or a fair proportion of it according to the nature and extent of the damage
sustained, is to be suspended and cease to be payable until the date on which the Premises are fit for use accessible and reinstated and the Landlord shall refund to the Tenant any Rent paid by the Tenant in respect of the period after the date of
such damage or destruction and relating to the period of any such suspension.
		
	6.4.3	  	Any dispute about the operation of this clause 6.4 is to be referred to an Independent Person acting as an expert in accordance with the Seventh
Schedule.
		
	6.5	  	Termination
		
	6.5.1	  	If the Premises (or a substantial part of them) are damaged or destroyed by an Insured Risk or an Uninsured Risk within the last five years of the Term, so that the
whole or substantially the whole of the Premises are unfit for occupation and use or are inaccessible, either the Landlord or the Tenant may terminate this Lease by serving six months' written notice on the other party within twelve months of the
date of damage or destruction.

			
		
	6.5.2	  	If the Landlord has not commenced the works of rebuilding or reinstating the Premises within the period of three years of the damage or destruction by an Insured Risk (which is
not, while the Head Landlord is obliged to insure the Premises, a Default Uninsured Risk) the Tenant may terminate this Lease by giving to the Landlord written notice to that effect.
		
	6.5.3	  	If the Premises are damaged or destroyed by an Insured Risk (which is not, while the Head Landlord is obliged to insure the Premises, a Default Uninsured Risk) and the Landlord
has not practically completed the works of rebuilding or reinstating the Premises (as evidenced by the issue of the certificate or statement of practical completion under the building contract for the works but subject only to such minor snagging
which would not impede the use and occupation of the Premises as high class offices by the Tenant) prior to the expiry of the loss of rent period referred to in clause 6.1.4 the Tenant may terminate this Lease by giving to the Landlord written
notice to that effect (unless the works have been so practically completed before the date of the Tenant’s notice).
		
	6.6	  	Damage by a Market Uninsured Risk
		
	6.6.1	  	The provisions of this Clause 6.6 apply following damage or destruction by a Market Uninsured Risk to the Premises or any part of them.
		
	6.6.2	  	The Landlord and the Tenant shall as soon as reasonably practicable and in any event within nine months of the date of any damage or destruction by a Market Uninsured Risk to the
Premises or any part of them, consult with each other with regard to the Landlord’s intentions in relation to the Premises.
		
	6.6.3	  	If as a result of a Market Uninsured Risk the Premises either suffers Substantial Damage or is destroyed the Landlord may in its absolute discretion by service in writing (an
“Election Notice”) on the Tenant given within the period of 12 months following the date of such damage or destruction elect whether or not it intends to rebuild or reinstate the Premises. The Landlord shall act in good faith towards the
Tenant in deciding whether or not it intends to rebuild or reinstate the Premises.
		
	6.6.4	  	If the Premises suffer damage which is not Substantial Damage but is caused by a Market Uninsured Risk the Landlord shall (to the extent that such damage adversely affects the
use and enjoyment of the Premises by the Tenant as high class offices) reinstate the Premises in accordance with clause 6.6.5.

					
		
	6.6.5	  	If the Landlord serves an Election Notice electing to rebuild or reinstate the Premises so damaged or destroyed or is obliged to reinstate under clause 6.6.4 the
Landlord shall:
			
		  	6.6.5.1	  	notify the Tenant and keep it notified of the source or sources and amounts of finance available to the Landlord to effect the reinstatement of the Premises and shall respond
reasonably as soon as possible to the Tenant’s reasonable requests for further information on sources and amounts of such finance; and
			
		  	6.6.5.2	  	use reasonable endeavours to obtain all planning and other consents necessary to rebuild and reinstate the Premises as soon as reasonably practicable and when the consents have
been obtained the Landlord shall proceed to rebuild and reinstate the Premises as soon as reasonably practicable substantially as they were before the destruction or damage in modern form if appropriate but not necessarily identical in layout and
shall in addition reinstate the accesses to the Premises if so destroyed or damaged and shall notify the Tenant as soon as is reasonably practicable after such damage has occurred but in any event within twelve months of the date of such damage of
its programme and proposals for such reinstatement and keep the Tenant reasonably informed of the progress of such reinstatement and use reasonable endeavours to procure warranties in an industry standard form in favour of the Tenant from the
contractor and professional team.
		
	6.6.6	  	If the Landlord serves an Election Notice electing not to rebuild or reinstate the Premises the Landlord or the Tenant may terminate this Lease by giving written
notice to the other to that effect to expire immediately.
		
	6.6.7	  	If the Landlord has not served an Election Notice within twelve months after the date of damage or destruction of the Premises, the Tenant may terminate this Lease by
giving to the Landlord notice to that effect at any time thereafter to expire immediately.
		
	6.6.8	  	If the Landlord has not commenced the works of rebuilding or reinstatement within three years of the date of damage or destruction, the Tenant may terminate this
Lease by giving to the Landlord written notice to that effect to expire immediately.

			
		
	6.6.9	  	If the Landlord has not practically completed the works of rebuilding or reinstating the Premises (as evidenced by the issue of the certificate or statement of practical
completion under the building contract for the works but subject only to such minor snagging which would not impede the use and occupation of the Premises as high class offices by the Tenant) prior to the expiry of a period of the same length as the
loss of rent period referred to in clause 6.1.4 the Tenant may terminate the Lease by giving to the Landlord written notice to that effect to expire immediately (unless the works have been so practically completed before the date of the
Tenant’s notice).
		
	6.6.10	  	On the expiry of any notice of termination given under this clause, this Lease will terminate, but without affecting any liability arising from a breach of covenant or condition
which has occurred before this.
		
	6.7	  	Damage by a Default Uninsured Risk
		
	6.7.1	  	The provisions of this Clause 6.7 apply until the Head Landlord ceases to be obliged for any reason to insure the Premises and following damage or destruction by a Default
Uninsured Risk to the Premises or any part of them.
		
	6.7.2	  	The Landlord and the Tenant shall as soon as reasonably practicable and in any event within nine months of the date of any damage or destruction by a Default Uninsured Risk to
the Premises or any part of them, consult with each other with regard to the Landlord’s intentions in relation to the Premises.
		
	6.7.3	  	If as a result of a Default Uninsured Risk the Premises either suffers Substantial Damage or is destroyed the Landlord shall use best endeavours to procure payment by the Head
Landlord of a sum equal to the insurance monies which the insurer should have paid had the Head Landlord complied with its obligations to insure in the Headlease (the “Default Shortfall”).
		
	6.7.4	  	If the Landlord receives payment of the Default Shortfall the Landlord shall use reasonable endeavours to obtain all planning and other consents necessary to rebuild and
reinstate the Premises as soon as reasonably practicable and when the consents have been obtained the Landlord shall proceed to rebuild and reinstate the Premises as soon as reasonably practicable substantially as they were before the destruction or
damage in modern form if appropriate but not necessarily identical in layout and shall in addition reinstate the accesses to the Premises if so destroyed or damaged and shall notify the Tenant as soon as is reasonably practicable after such damage
has occurred but in any event within twelve months

					
		
		  	of the date of such damage of its programme and proposals for such reinstatement and keep the Tenant reasonably informed of the progress of such reinstatement and use
reasonable endeavours to procure warranties in an industry standard form in favour of the Tenant from the contractor and professional team.
		
	6.7.5	  	If the Landlord has not received payment of the Default Shortfall within 12 months following the date that the Premises suffers Substantial Damage or is destroyed by
a Default Uninsured Risk then subject to clause 6.7.6 the Tenant or (subject to the Landlord having complied with its obligations in clause 6.7.3) the Landlord may terminate this Lease by giving written notice to the other to that effect to expire
immediately PROVIDED THAT if at that date the Landlord or the Tenant acting reasonably consider that there is a realistic possibility of the Head Landlord paying the Default Shortfall the Landlord or the Tenant may not terminate this Lease under
this clause 6.7.5 until there is no longer a realistic possibility of the Head Landlord paying the Default Shortfall or the date which is 24 months following the date that the Premises suffers Substantial Damage or is destroyed by a Default
Uninsured Risk if earlier.
		
	6.7.6	  	The Landlord may at any time in its absolute discretion by service in writing on the Tenant given within the period of 12 months following the date of such damage or
destruction elect to rebuild or reinstate the Premises and if the Landlord serves such notice this Lease may not be terminated under clause 6.7.5.
		
	6.7.7	  	If the Premises suffers damage which is not Substantial Damage but is caused by a Default Uninsured Risk the Landlord shall (to the extent that such damage adversely
affects the use and enjoyment of the Premises by the Tenant as high class offices) reinstate the Premises in accordance with clause 6.7.8.
		
	6.7.8	  	If the Landlord serves notice under clause 6.7.6 or is obliged to reinstate under clause 6.7.7 the Landlord shall:
			
		  	6.7.8.1	  	notify the Tenant and keep it notified of the source or sources and amounts of finance available to the Landlord to effect the reinstatement of the Premises and shall respond
reasonably as soon as possible to the Tenant’s reasonable requests for further information on sources and amounts of such finance; and
			
		  	6.7.8.2	  	use reasonable endeavours to obtain all planning and other consents necessary to rebuild and reinstate the Premises as soon as reasonably practicable and when the consents have
been obtained

					
			
		  		  	the Landlord shall proceed to rebuild and reinstate the Premises as soon as reasonably practicable substantially as they were before the destruction or damage in modern form if
appropriate but not necessarily identical in layout and shall in addition reinstate the accesses to the Premises if so destroyed or damaged and shall notify the Tenant as soon as is reasonably practicable after such damage has occurred but in any
event within twelve months of the date of such damage of its programme and proposals for such reinstatement and keep the Tenant reasonably informed of the progress of such reinstatement and use reasonable endeavours to procure warranties in an
industry standard form in favour of the Tenant from the contractor and professional team.
		
	6.7.9	  	If the Landlord has not commenced the works of rebuilding or reinstatement within three years of the date of damage or destruction, the Tenant may terminate this
Lease by giving to the Landlord written notice to that effect to expire immediately.
		
	6.7.10	  	If the Landlord has not practically completed the works of rebuilding or reinstating the Premises (as evidenced by the issue of the certificate or statement of
practical completion under the building contract for the works but subject only to such minor snagging which would not impede the use and occupation of the Premises as high class offices by the Tenant) prior to the expiry of a period of the same
length as the loss of rent period referred to in clause 6.1.4 the Tenant may terminate the Lease by giving to the Landlord written notice to that effect to expire immediately (unless the works have been so practically completed before the date of
the Tenant’s notice).
		
	6.7.11	  	On the expiry of any notice of termination given under this clause, this Lease will terminate, but without affecting any liability arising from a breach of covenant
or condition which has occurred before this.
		
	6.8	  	Damage/Destruction occurring during Tenant’s Rent Free Period
		
		  	If the whole or part of the Premises are damaged or destroyed by an Insured Risk or an Uninsured Risk prior to the Rent Commencement Date then the Rent Commencement
Date shall be deferred by one day for every day within the period commencing on the date of damage or destruction and ending on the date on which the whole of the Premises shall again be fit for occupation and use and accessible but if part of the
Premises has been damaged or destroyed and provided that the remainder of the Premises is capable of beneficial occupation and use in

			
		
		  	accordance with the terms of this Lease notwithstanding such damage or destruction, the Rent Commencement Date shall be so deferred only in relation to the part of the Premises
so damaged or destroyed and in such circumstances the Rent payable from the Rent Commencement Date in respect of that part of the Premises which is not so damaged or destroyed shall be a proportion of the Rent calculated by reference to the Net
Internal Area of the part not so damaged or destroyed and any dispute regarding the deferment of the Rent Commencement Date or the apportionment of the Rent shall be referred by either party to the Independent Person acting as an expert in
accordance with the Seventh Schedule.
		
	6.9	  	Noting of Tenant’s Interest and Information
		
		  	The Landlord covenants with the Tenant in relation to the policy of insurance effected by the Head Landlord or the Landlord pursuant to its obligations in this Lease that it
shall:
		
	6.9.1	  	notify its insurers and shall (subject to the terms of the Head Lease) procure that the Head Landlord notifies its insurers (if applicable) of the interest of the Tenant in the
Premises and shall use reasonable endeavours to have such interest noted on the policies of insurance or by a general noting under the conditions of the policies;
		
	6.9.2	  	at the cost of the Tenant use best endeavours to procure that the insurers issue a waiver of subrogation rights in respect of the Tenant any undertenant and any other lawful
occupier;
		
	6.9.3	  	produce to the Tenant at the Tenant’s own cost as soon as reasonably practicable following demand (but not more often than once in any calendar year) a copy of the policies
of insurance effected by the Landlord or the Head Landlord and evidence of the terms of the policies and the fact that the last premium has been paid;
		
	6.9.4	  	notify the Tenant of any change in the risks covered by the policies from time to time as well as any changes in the terms of cover of which is becomes
aware.

					
		
	6.10	  	Latent Defects Insurance Policies
		
	6.10.1	  	The Tenant shall make and diligently pursue such claims under the Latent Defects Insurance Policies as it reasonably believes are valid and shall make such claims as
soon as reasonably practicable after becoming aware of the circumstances giving rise to the claim and shall keep the Landlord regularly informed of progress by way of such reports and meetings as the Landlord may reasonably require.
		
	6.10.2	  	The Landlord shall not make any claims under the Latent Defects Insurance Policies unless:
			
		  	6.10.2.1	  	the Landlord has first given written notice to the Tenant of the circumstances which the Landlord believes give rise to a claim pursuant to the Latent Defects Insurance Policies
accompanied by such evidence as the insurer would reasonably require in support of such a claim and whatever protective notice is required to be given under the terms of the Latent Defects Insurance Policies; and
			
		  	6.10.2.2	  	the Tenant has not made a claim or has not given written notice to the Landlord within 20 Working Days of the Landlord’s notice pursuant to clause 6.10.2.1 that it has made
a claim under the Latent Defects Insurance Policies in respect of the circumstances referred to in the Landlord’s notice.
		
	6.10.3	  	In respect of any claim made by the Tenant under the Latent Defects Insurance Policies, the Tenant will elect for reinstatement of the Premises where the terms of the
Latent Defects Insurance Policies so permit.
		
	6.10.4	  	Where the Landlord makes a claim under the Latent Defects Insurance Policies, the Tenant’s obligations under clause 6.10.1 shall be suspended in relation to that
claim only and the Tenant shall not take any action in respect of that claim unless its assistance is requested by the Landlord.
		
	6.10.5	  	The Landlord will procure that the relevant proceeds of claim are paid to the Tenant (and if and to the extent that the Landlord receives such proceeds of claim, it
shall procure that the relevant proceeds are paid to the Tenant within ten Working Days).
		
	6.10.6	  	The Tenant will apply the monies it receives as the proceeds of any claim made pursuant to the Latent Defects Insurance Policies in remedying the defect for which the
relevant monies have been paid (unless and to the extent that the Tenant has already used its own monies to remedy the relevant defect).

					
		
	6.10.7	  	The Landlord and the Tenant shall not, whether by act, default or omission, do anything of any nature whatsoever which would render the Latent Defects Insurance
Policies void or voidable or reduce the amount of money which would but for that have been recoverable thereunder.
		
	6.10.8	  	The Landlord and the Tenant shall comply with all requirements of the insurers and the terms of the Latent Defects Insurance Policies.
		
	6.10.9	  	The Tenant shall permit the insurers and the Landlord and all persons authorised by them to exercise all rights available to them pursuant to the Latent Defects
Insurance Policies and to take such actions as are necessary to comply with them.
		
	7	  	PROVISOS
		
		  	PROVIDED ALWAYS AND IT IS HEREBY AGREED AND DECLARED as follows:
		
	7.1	  	Forfeiture
		
		  	Without prejudice to any other right remedy or power herein contained or otherwise available to the Landlord:
		
	7.1.1	  	if any of the rents reserved by this Lease or any sums due pursuant to clause 4.3 or any part of them shall be unpaid for 14 days after becoming payable (whether
formally demanded or not); or
		
	7.1.2	  	if any of the covenants by the Tenant contained in this Lease shall not be performed and observed; or
		
	7.1.3	  	if the Tenant, for the time being, and/or the Guarantor (if any) (being a body corporate):
			
		  	7.1.3.1	  	calls, or a nominee on its behalf calls, a meeting of any of its creditors; or makes an application to the Court under part 26 of the Companies Act 2006; or submits to any of its
creditors a proposal under Part I of the Insolvency Act 1986; or enters into any arrangement, scheme, compromise, moratorium or composition with any of its creditors (whether under Part I of the Insolvency Act 1986 or otherwise);
or

					
			
		  	7.1.3.2	  	has an administrative receiver or a receiver or a receiver and manager appointed in respect of the Tenant’s or the Guarantor’s property or assets or any part;
or
			
		  	7.1.3.3	  	resolves or the directors or shareholders resolve to present a petition for an administration order in respect of the Tenant or the Guarantor (as the case may be); or an
administrator is appointed; or
			
		  	7.1.3.4	  	has a winding-up petition or petition for an administration order presented against it (other than a petition which is frivolous or vexatious and which is not discharged within
20 Working Days); or passes a winding-up resolution (other than a voluntary winding-up whilst solvent for the purposes of an amalgamation or reconstruction); or calls a meeting of its creditors for the purposes of considering a resolution that it be
wound-up voluntarily; or resolves to present its own winding-up petition; or is wound-up (whether in England or elsewhere); or has a liquidator or provisional liquidator appointed; or
			
		  	7.1.3.5	  	shall cease for any reason to maintain its corporate existence; or is struck off the register of companies; or otherwise ceases to exist; or
		
	7.1.4	  	if the Tenant for the time being and/or the Guarantor (if any) (being an individual or if more than one individual, then any one of them) makes an application to the
Court for an interim order under Part VIII of the Insolvency Act 1986 or convenes a meeting of or enters into any arrangement scheme compromise moratorium or composition with any of his creditors or any of them (whether pursuant to Part VIII of the
Insolvency Act 1986 or otherwise) or has a bankruptcy petition presented against him or is adjudged bankrupt or has a receiver appointed in respect of the Tenant’s or the Guarantor’s property or assets or any part; or
		
	7.1.5	  	if analogous proceedings or events to those referred to in this clause shall be instituted or occur in relation to the Tenant, for the time being, and/or the Guarantor
(if any) elsewhere than in the United Kingdom; or
		
	7.1.6	  	if the Tenant, for the time being, and/or the Guarantor (if any) becomes unable to pay its debts as and when they fall due
		
		  	THEN and in any such case the Landlord may at any time thereafter re-enter the Premises or any part thereof in the name of the whole and thereupon the Term and this
Lease shall absolutely cease and determine but without prejudice to any rights or remedies which may then have accrued in respect of any antecedent breach of any of the covenants contained in this Lease.

			
		
	7.2	  	No implied easements
		
		  	Nothing herein contained shall impliedly confer upon or grant to the Tenant any easement right or privilege other than those expressly granted by this Lease and Section 62 of the
Law of Property Act 1925 is excluded from this Lease.
		
	7.3	  	Exclusion of warranty as to user
		
		  	Nothing contained in this Lease or in any agreement leading to its grant or in any consent granted by the Landlord under this Lease shall imply or warrant that the Premises may
be used under the Planning Acts for the use herein authorised or any use subsequently authorised.
		
	7.4	  	Notices
		
	7.4.1	  	Any notice required to be served on the Tenant or the Guarantor (if any) under this Lease shall be in writing and shall be validly made given or served if addressed to the Tenant
or the Guarantor (if any) respectively (and if there shall be more than one of them then any one of them) and delivered personally or sent by pre-paid registered mail addressed (in the case of a company) to its registered office or (whether a
company or individual) its last known address.
		
	7.4.2	  	Any notice required to be served on the Landlord shall be in writing and shall be validly given or served if addressed to the Landlord and delivered personally or sent by
pre-paid registered mail to its registered office.
		
	7.4.3	  	Any notice required to be served on BlackRock Investment Management (UK) Limited or a Group Company of that company shall be marked for the attention of the General Counsel -
International, Legal and Compliance.

			
		
	7.5	  	Invalidity of certain provisions
		
		  	If any term of this Lease or the application thereof to any person or circumstances shall to any extent be invalid or unenforceable the same shall be severable and the remainder
of this Lease or the application of such term to persons or circumstances other than those as to which it is held invalid or unenforceable shall not be affected thereby and each term and provision of this Lease shall be valid and be enforced to the
fullest extent permitted by law.
		
	7.6	  	Plans drawings etc
		
		  	The Landlord shall have an irrevocable and assignable non-exclusive licence or sub-licence free from any copyright claim as from the expiry or sooner determination of this Lease
to use and reproduce all plans drawings specifications models and other technical information required to be furnished by the Tenant to the Landlord under this Lease but so that the Landlord shall use the same only in connection with the use
ownership operation maintenance and alteration of the Premises and the Tenant shall deliver all such documents to the Landlord promptly upon the expiry or sooner determination of this Lease provided always that the Landlord covenants to treat as
supplied in confidence all drawings, plans, specifications, costs, calculations and other technical information supplied or made available to it by the Tenant.
		
	7.7	  	Third Party Rights
		
		  	A person who is not a party to this Lease has no rights by virtue of the Contracts (Rights of Third Parties) Act 1999 to enforce any terms of this Lease but this does not affect
any right or remedy of a third party which exists or is available apart from that Act.
		
	7.8	  	Applicable Law and Jurisdiction
		
		  	This Lease shall be governed by and construed in all respects in accordance with the Laws of England and proceedings in connection therewith shall be subject (and the parties
hereby submit) to the non-exclusive jurisdiction of the English Courts and for the purposes of Rule 6.15 of Civil Procedure Rule 1998 and any other relevant Rules thereof the Tenant and the Guarantor (if any) hereby irrevocably agree that any
process may be served upon them by leaving a copy addressed to them at their address as stated above or at such other address for service within England and Wales as may be notified in writing from time to time to the
Landlord.

					
		
	7.9	  	Representations
		
		  	The Tenant acknowledges that this Lease has not been entered into in reliance wholly or partly on any statement or representation made by or on behalf of the Landlord
except any such statement or representation that is expressly set out in this Lease or in written reply to enquiries raised by the Tenant’s solicitors of the Landlord’s solicitors prior to the date of any agreement pursuant to which this
Lease is granted.
		
	7.10	  	Transfer on Cessation Date
		
	7.10.1	  	The parties acknowledge that the Transfer Regulations may apply in respect of the Tenant Transferor Employees on the Cessation Date. It is agreed that contracts of
employment of the Tenant Transferor Employees will (save in so far as such contract relates to any occupational pension scheme) have effect after the Cessation Date as if originally made between the Incoming Service Provider and the Tenant
Transferor Employees.
		
	7.10.2	  	The Tenant shall, or shall procure that the Tenant Transferor shall, pay and shall indemnify the Incoming Service Provider against all reasonable costs, expenses, and
all damages, compensation, and all fines and other liabilities which it may suffer or incur arising out of or in connection with any claim action or demand by an Tenant Transferor Employee arising from any acts or omissions of the Tenant Transferor
(save where such acts or omissions arise from a failure of the Landlord and/or the Incoming Service Provider to comply with its statutory or legal obligations) in relation to his employment or the termination of his employment prior to and including
the Cessation Date.
		
	7.10.3	  	The Landlord shall, or shall procure that the Incoming Service Provider shall, be liable for and shall indemnify the Tenant Transferor in respect of any costs,
expenses, damages, compensation, fines and other liabilities which are incurred by the Tenant Transferor arising out of or in connection with:
			
		  	7.10.3.1	  	any failure by the Incoming Service Provider to comply with its or their obligations under Regulations 13 and/or 14 of the Transfer Regulations;
			
		  	7.10.3.2	  	any proposal by the Landlord and/or the Incoming Service Provider prior to or following the Cessation Date to make a change which amounts to or would amount to a repudiatory
breach of contract of employment of any person assigned to the Building Services or to

					
			
		  		  	make a substantial change to the working conditions of any person assigned to the Building Services to the material detriment of that person assigned to the Building Services.
For the purposes of this sub-clause the expressions “repudiatory breach”, “substantial change” and “material detriment” shall have the same meanings as for the purposes of Regulations 4(9) and 4(11) of the Transfer
Regulations respectively.
		
	7.10.4	  	If the employment or any liabilities in respect of the employment or its termination of any employee or former employee of the Tenant Transferor (other than any
Tenant Transferor Employee) (“the Individual”) is alleged to transfer by reason of the cessation of this Lease and the Transfer Regulations to the Landlord or the Incoming Service Provider then the following shall
occur:
			
		  	7.10.4.1	  	the Landlord or the Incoming Service Provider shall upon becoming aware of the same give written notice to the Tenant of such transfer or alleged transfer and provide such
details of the Individual as it has in its possession;
			
		  	7.10.4.2	  	the Tenant Transferor shall have seven days from dispatch of the notice under this Clause to provide the Individual with a written offer of employment with the Tenant Transferor
to commence forthwith and to provide the Landlord or the Incoming Service Provider with written evidence of such offer;
			
		  	7.10.4.3	  	if the Individual rejects the offer or the offer is not made then the Tenant Transferor shall notify the Landlord or the Incoming Service Provider forthwith. The Incoming Service
Provider shall be entitled in the absence of any confirmation of offer under Clause 7.10.4.2 or upon receipt of notice that the offer was not made or was rejected to terminate the employment or alleged employment of the Individual
forthwith;
			
		  	7.10.4.4	  	the Tenant shall, or shall procure that the Tenant Transferor shall, indemnify the Landlord and Incoming Service Provider against all costs, claims, damages, awards payments
expenses and other liabilities in relation to the employment or alleged employment of any Individual or termination of the same.

					
		
	7.10.5	  	During the Termination Period the Tenant shall procure that the Tenant Transferor shall:
			
		  	7.10.5.1	  	(on receipt of a written request from the Landlord or the Incoming Service Provider) provide in writing within 28 days full details of the Tenant Transferor Employee including
details of their material terms and conditions of employment, age, length of continuous service, sex, current remuneration benefits and any other information relevant to their employment.
			
		  	7.10.5.2	  	not (without the written consent of the Landlord, such consent not to be unreasonably withheld or delayed) dismiss, transfer to other duties or vary the contract of employment,
remuneration or benefits of any Tenant Transferor Employee, or recruit or transfer any person so as to make them an Tenant Transferor Employee;
			
		  	7.10.5.3	  	co-operate fully with the Incoming Service Provider and provide all necessary information relating to the Tenant Transferor Employees to allow the Incoming Service Provider to
carry out its obligations to the Tenant Transferor Employee where employment is or may be transferred under the Transfer Regulations to such Incoming Service Provider.
			
		  	7.10.5.4	  	warrant that all information provided pursuant to Clauses 7.10.5.1 and 7.10.5.3 shall be true and accurate in all material respects and indemnify the Landlord and any Incoming
Service Provider against any reasonable costs, awards, expenses (including reasonable legal fees) and liabilities which either of them may incur or suffer as a result of a breach of this warranty.
		
	7.10.6	  	On the Cessation Date the Tenant will procure that the Tenant Transferor shall undertake and warrant to the Incoming Service Provider that it will provide to the
Incoming Service Provider accurate complete and up-to-date details of the material terms of employment of the Tenant Transfer Employees.
		
	7.10.7	  	Each party undertakes, if a claim, demand or action is made or threatened that may give rise to a claim for indemnity under this Clause 7.10 then that party shall as the
case may be:
			
		  	7.10.7.1	  	notify the indemnifying party of such a claim, demand or action in writing within 5 Working Days of it first being made or threatened or if not reasonably practicable to do so
then as soon as reasonably practicable thereafter;

					
			
		  	7.10.7.2	  	give the indemnifying party promptly all reasonable co-operation, assistance and information which may be relevant to the claim, demand or action; and
			
		  	7.10.7.3	  	not admit, defend, compromise, negotiate or settle the claim or action without the consent of the indemnifying party (such consent not to be unreasonably withheld or delayed) in
writing.
		
	8	  	NEW TENANCY
		
		  	This Lease constitutes a new tenancy for the purposes of the Landlord and Tenant (Covenants) Act 1995.
		
	9	  	LIMITATION OF LIABILITY
		
	9.1	  	Mourant & Co Trustees Limited and Mourant Property Trustees Limited (the “Trustees”) are entering into this Lease solely in their capacities as trustees of
the Drapers Gardens Unit Trust (the “Trust”) and, as such, any liability on the part of the Trustees pursuant to this Lease or arising as a result of any part of this Lease is limited to the assets held on trust for the time being of the
Trust which are in its possession or under their control as trustees of the Trust.
		
	9.2	  	Notwithstanding any other provision of this Lease, the Trustees have no obligation to meet any claim or liability under this Lease except to the extent that such claim
or liability can properly be met by the Trustees out of assets held by the Trustees on behalf of the Trust.
		
	9.3	  	The parties hereto acknowledge that the effect of clauses 9.1 and 9.2 is that they shall have no recourse to any assets of the Trustees other than to those assets which
are in their possession or under their control as trustees of the Trust.
		
	9.4	  	The parties acknowledge that references in this Lease to the Trustees are references to the Trustees in their capacity as trustees of the Trust and references to actions
in such capacity only and not to any other capacity whatsoever.

							
		
	10	  	OPTION TO RENEW
		
	10.1	  	In this Clause:
			
		  	Contractual Term	  	the contractual term granted by this Lease;
			
		  	Further Lease	  	the further lease to be granted by the Landlord to the Tenant on the terms referred to in Clause 10.3 pursuant to the exercise of the Option; and
			
		  	Option	  	the option of the Tenant for the grant by the Landlord to it of the Further Lease pursuant to this clause 10.
		
	10.2	  	The Tenant may exercise the Option not more than 18 months nor later than 12 months before the expiry of the Contractual Term by the Tenant giving notice to the
Landlord to that effect.
		
	10.3	  	The Further Lease is to be on the following terms:
		
	10.3.1	  	the term is to be for five years commencing on the expiry of the Contractual Term;
		
	10.3.2	  	the Rent Commencement Date is to be the date of commencement of the term granted by the Further Lease;
		
	10.3.3	  	the rent reserved is to be the yearly rent reserved under this Lease immediately preceding the expiry of the Contractual Term and the review date for the purposes of
the third schedule of the Further Lease is to be the date of commencement of the term granted by the Further Lease and for the purposes of the Third Schedule to the Further Lease, the term of the lease from the willing landlord to the willing tenant
will be ten years and the provisions of paragraph 2.2 of the Third Schedule will not apply;
		
	10.3.4	  	the covenants and conditions (including the proviso for re-entry but excluding these provisions for an option for a Further Lease) in this Lease, apart from the
yearly rent reserved and the rent review dates, are to be incorporated in the Further Lease with such appropriate adjustments as to dates and times as the passage of time renders necessary; and
		
	10.3.5	  	any Guarantor is to be a party to the Further Lease on the same terms as apply to this Lease.
		
	10.4	  	In pursuance of the exercise of the Option, as soon as practicable following expiry of the Contractual Term the Landlord shall grant and the Tenant shall accept the
grant of the Further Lease, unless:

			
		
	10.4.1	  	this Lease has been terminated before the expiry of the Contractual Term; or
		
	10.4.2	  	the Tenant is at the date of exercise of the Option or at the expiry of the Contractual Term in breach of its obligation to pay Rent.

 IN WITNESS whereof this Lease has been executed by the parties as a Deed and delivered on the day and year first above written 

 FIRST SCHEDULE 
 Rights Granted 
 The grant of this Lease to the Tenant is with the
benefit of the rights set out in part 1 of the first schedule to the Head Lease (including the Copthall Avenue Head Lease) in common with the Landlord and any other persons having the same or like rights. 

 SECOND SCHEDULE 
 Exceptions and Reservations 
 The rights and easements set out in part
2 of the first schedule to the Head Lease (including the Copthall Avenue Head Lease) are excepted and reserved out of the Premises to the Landlord and all other persons authorised by it or having the like rights and easements including, where
appropriate, the Head Landlord. 

 THIRD SCHEDULE 
 Rent Reviews 
  

			
	1	  	Definitions
		
		  	In this schedule the following expressions shall have the following meanings:
		
	1.1	  	“Assumed Premises” means the Premises on the assumption that:
		
	1.1.1	  	the Tenant has removed all tenant’s fixtures and all improvements and alterations carried out by the Tenant otherwise than pursuant to an obligation to the Landlord
(reinstating and making good any damage caused to the Premises in so doing) and has left the Premises (constructed and fitted out as specified in paragraph 1.1.2) as clear space; and
		
	1.1.2	  	the Premises have been constructed by the Landlord at its own cost and completed immediately prior to the grant of this Lease in accordance with the Building Specification and as
altered from time to time by alterations carried out by and at the expense of the Landlord and improvements and alterations carried out by the Tenant pursuant to an obligation to the Landlord (other than pursuant to a statutory
obligation);
		
	1.2	  	the “Assumptions” means the following assumptions (if not facts) at the relevant Review Date:
		
	1.2.1	  	that the Assumed Premises are in a condition consistent with the provisions of paragraph 1.1 of this schedule; and
		
	1.2.2	  	that there shall be no discount reduction or allowance to reflect (or compensate any incoming tenant for the absence of) any rent free or concessionary rent period which reflects
the time it would take for the incoming tenant to fit out the Assumed Premises so as to be ready for immediate use or any capital payment or other consideration in lieu thereof and which could reasonably be expected to be granted to the willing
lessee in the open market at the relevant Review Date so that such Open Market Rent shall be that which would be payable after the expiry of any such rent free or concessionary rent period which the willing lessee shall hereby be assumed to have
enjoyed or after receipt by the willing lessee of any such capital payment or other consideration in lieu thereof; and

					
		
	1.2.3	  	that no work has been carried out to the Premises by the Tenant any undertenant or their respective predecessors in title during the Term which has diminished the
rental value of the Premises; and
		
	1.2.4	  	that if the Premises or the necessary accessways and/or access roads thereto have been destroyed or damaged they have been fully rebuilt and reinstated save to the
extent that the Landlord is in breach of its covenants to rebuild and reinstate the Premises and the necessary accessways and/or access roads thereto and has not remedied such breach within a reasonable period following notification of such breach;
and
		
	1.2.5	  	that the Assumed Premises together with all necessary accessways and access roads comply with all statutory and regulatory requirements; and
		
	1.2.6	  	that all the covenants contained in this Lease have been fully performed and observed save to the extent that the Landlord is in breach of any of its covenants and
has not remedied such breach within a reasonable period following notification of such breach;
		
	1.3	  	the “Disregarded Matters” means:
		
	1.3.1	  	any effect on rent of the fact that the Tenant or any Group Company of the Tenant or any undertenant or any Group Company of any undertenant or their respective
predecessors in title have been or are in occupation of the Premises or any part thereof;
		
	1.3.2	  	any goodwill attached to the Premises by reason of the business then carried on at the Premises by the Tenant or any Group Company of the Tenant or any permitted
undertenant or any Group Company of any permitted undertenant;
		
	1.3.3	  	any improvements to the Premises made before or during the Term by the Tenant or any undertenant or their respective predecessors in title, with the consent of the
Landlord where required under this Lease other than those:
			
		  	1.3.3.1	  	made in pursuance of an obligation to the Landlord (save pursuant to a statutory obligation); or
			
		  	1.3.3.2	  	for which the Landlord has made a financial contribution to the extent of that contribution;
		
	1.3.4	  	the provisions of clause 10;

			
		
	1.3.5	  	the provisions of paragraphs 1.4, 1.5 and 2.2 of this third schedule.
		
	1.4	  	“First Review Maximum Rent” means £16,875,291 per annum.
		
	1.5	  	“First Review Minimum Rent” means £15,321,072 per annum.
		
	1.6	  	“Open Market Rent” means (subject to paragraph 4 below) the clear yearly rack rent at which the Assumed Premises could reasonably be expected to be let as a whole at
the relevant Review Date by a willing landlord to a willing tenant with vacant possession and without any premium or any consideration other than rent for the grant thereof for a term of fifteen years (in the case of the Review Dates occurring on
the fifth and tenth anniversary of the date of commencement of the Term) or ten years (in the case of every other Review Date) commencing on the relevant Review Date and with open market rent reviews on each successive fifth anniversary of the
commencement of the term and otherwise on the terms and conditions and subject to the covenants and provisions contained in this Lease and in any direct deed of covenant given by the Tenant to the Head Landlord other than the amount of the Rent
payable under this Lease and otherwise subject to the provisions for the review of the Rent contained in this schedule and making the Assumptions but disregarding the Disregarded Matters;
		
	1.7	  	the “President” means the President for the time being of the Royal Institution of Chartered Surveyors and includes the duly appointed deputy of the President or any
person authorised by the President to make appointments on his behalf; and
		
	1.8	  	“Rent Restrictions” means the restrictions imposed by any statute for the control of rent in force on a Review Date or on the date on which any increased rent is
ascertained in accordance with this schedule and which operate to impose any limitation whether in time or amounts on the assessment or the collection of any increase in rent or any part thereof;
		
	1.9	  	“Surveyor” means an independent chartered surveyor of not less than fifteen years’ standing who is a Fellow of the Royal Institution of Chartered Surveyors and who
is experienced in the letting or valuation of buildings similar to the Assumed Premises in the City of London appointed from time to time to determine the Open Market Rent pursuant to the provisions of this schedule and the Surveyor shall act as an
arbitrator in accordance with the Arbitration Act 1996.

			
		
	2	  	The Rent
		
	2.1	  	Subject to paragraph 2.2 of this schedule from and including each Review Date the Rent shall be equal to the Open Market Rent at the relevant Review Date as ascertained in
accordance with the provisions of paragraph 3 below or as determined under the provisions of paragraph 4 below (as the case may be).
		
	2.2	  	In relation to the rent review on the Review Date occurring on the fifth anniversary only of the date of commencement of the Term:
		
	2.2.1	  	if the Open Market Rent is greater than the First Review Maximum Rent, the Rent payable from and including the Relevant Review Date shall be the First Review Maximum Rent; or

		
	2.2.2	  	if the Open Market Rent is less than the First Review Minimum Rent, the Rent payable from and including the relevant Review Date shall be the First Review Minimum
Rent.
		
	3	  	Agreement or determination of the Open Market Rent
		
		  	The Open Market Rent at any Review Date may be agreed in writing at any time between the Landlord and the Tenant but if for any reason the Landlord and the Tenant have not so
agreed then from a date two months prior to the relevant Review Date either the Landlord or the Tenant may by notice in writing to the other require the Open Market Rent to be determined by the Surveyor.
		
	4	  	Deemed Open Market Rent
		
		  	Subject always to the provisions of paragraph 2.2 of this Third Schedule if the Open Market Rent at any Review Date (as ascertained pursuant to paragraph 3 of this Schedule) is
less than the Rent payable immediately preceding the relevant Review Date (but disregarding any suspension of the Rent pursuant to clause 6) or if the Open Market Rent at the relevant Review Date cannot for any reason be so ascertained then for the
purposes of this schedule the Open Market Rent at the relevant Review Date shall be deemed to be the Rent payable immediately preceding the relevant Review Date (disregarding any suspension of rent as aforesaid).

			
		
	5	  	Appointment of Surveyor
		
	5.1	  	The Surveyor (in default of agreement between the Landlord and the Tenant) shall be appointed by the President on the written application of either the Landlord or the Tenant
made not earlier than two months before the relevant Review Date.
		
	5.2	  	The following provisions shall apply to the appointment of the Surveyor:
		
	5.2.1	  	the date of the arbitrator’s award shall be deemed to be the date on which a copy of the award is served on the Landlord and the Tenant;
		
	5.2.2	  	the arbitrator shall not be entitled to order the rectification, setting aside or cancellation of this Lease or any other deed;
		
	5.2.3	  	the arbitrator shall have the power to order a provisional award;
		
	5.2.4	  	the arbitrator shall not be entitled to require that security is provided in respect of the costs of the arbitration; and
		
	5.2.5	  	the arbitrator shall not be entitled to make an award prior to the relevant Review Date.
		
	6	  	Fees of Surveyor
		
		  	The fees and expenses of the Surveyor including the cost of his nomination shall be payable by the Landlord and the Tenant in such proportions as the Surveyor shall, at his
discretion, direct.
		
	7	  	Appointment of new surveyor
		
		  	If the Surveyor fails to give notice of his determination within 80 days of his appointment or if he dies is unwilling to act or becomes incapable of acting or if for any other
reason he is unable to act then either the Landlord or the Tenant may request the President to discharge the said surveyor and appoint another surveyor in his place which procedure may be repeated as many times as necessary.
		
	8	  	Interim payments pending determination
		
	8.1	  	In the event that by the relevant Review Date the Rent has not been agreed or determined as aforesaid (the date of agreement or determination being herein called “the
Determination Date”) then in respect of the period (herein called “the Interim Period”) beginning with the relevant Review Date and ending on the day

			
		
		  	before the Quarter Day following the Determination Date the Tenant shall pay to the Landlord Rent at the yearly rate payable immediately before the relevant Review Date or (in
the case of the Review Date occurring on the fifth anniversary of the date of commencement of the Term) at the rate of the First Review Minimum Rent.
		
	8.2	  	Forthwith following the Determination Date the Tenant shall pay to the Landlord the amount (if any) by which the Rent paid on account by the Tenant under the provisions of
paragraph 8.1 above in respect of the Interim Period falls short of the aggregate of Rent payable in respect of the Interim Period together with interest on each of the instalments of such shortfall at the Base Rate from the date of each relevant
under payment to the date of payment.
		
	9	  	Rent Restrictions
		
		  	On each occasion that Rent Restrictions shall prevent or prohibit either wholly or partially:
		
	9.1	  	the operation of the above provisions for review of the Rent; or
		
	9.2	  	the normal collection and retention by the Landlord of any increase in the Rent or any instalment or part thereof
		
		  	THEN in each such case:
		
	9.3	  	the operation of such provisions for review of the Rent shall be postponed to take effect on the first date or dates thereafter upon which such operation may occur Provided that
such operation shall not take place more frequently than would be the case in the absence of any Rent Restrictions throughout the Term of this Lease; and
		
	9.4	  	the collection of any increase or increases in the Rent shall be postponed to take effect on the first date or dates thereafter that such increase or increases may be collected
and/or retained in whole or in part and on as many occasions as shall be required to ensure the collection of the whole increase
		
		  	AND until the Rent Restrictions shall be relaxed either partially or wholly the Rent shall be the maximum sum from time to time permitted by the Rent
Restrictions.

			
		
	10	  	Memoranda of reviewed rent
		
		  	As soon as the amount of any reviewed Rent has been agreed or determined memoranda thereof shall be prepared by the Landlord or its solicitors and thereupon shall be signed by or
on behalf of the Landlord and the Tenant and annexed to this Lease and the counterpart thereof and the parties shall bear their own costs in respect thereof.
		
	11	  	Time not of the essence
		
		  	For the purpose of this schedule time shall not be of the essence.

 FOURTH SCHEDULE 
 Covenants by the Guarantor 
  

			
	1	  	Indemnity by Guarantor
		
		  	The Guarantor hereby covenants with the Landlord as a primary obligation that the Tenant or the Guarantor shall at all times until the Tenant shall cease to be bound by the
Tenant’s covenants in the Lease during the Term duly perform and observe all the covenants on the part of the Tenant contained in this Lease including the payment of the rents hereby reserved and all other sums payable under this Lease in the
manner and at the times herein specified and the Guarantor shall indemnify and keep indemnified the Landlord against all claims demands losses damages liability costs fees and expenses whatsoever sustained by the Landlord by reason of or arising
directly or indirectly out of any default by the Tenant in the performance and observance of any of its obligations or the payment of any rents and other sums.
		
	2	  	Guarantor jointly and severally liable with Tenant
		
		  	The Guarantor hereby further covenants with the Landlord that the Guarantor is jointly and severally liable with the Tenant (whether before or after any disclaimer by a
liquidator or trustee in bankruptcy) for the fulfilment of all the obligations of the Tenant under this Lease and agrees that the Landlord in the enforcement of its rights hereunder may proceed against the Guarantor as if the Guarantor was named as
the Tenant in this Lease.
		
	3	  	Waiver by Guarantor
		
	3.1	  	The Guarantor hereby waives any right to require the Landlord to proceed against the Tenant or to pursue any other remedy whatsoever which may be available to the Landlord before
proceeding against the Guarantor.
		
	3.2	  	The Guarantor waives any right which at any time the Guarantor has under the existing or future laws of Jersey whether by virtue of the “droit de discussion” or
otherwise to require that recourse be had to the assets of any other person before any claim is enforced against the Guarantor in respect of the obligations hereby assumed by the Guarantor and the Guarantor undertakes that if at any time the
Landlord (or any trustee or agent on its behalf) sues the Guarantor and no other person in respect of any such obligations the Guarantor shall not claim that any other person be made a party to the proceedings and the Guarantor agrees to
be

			
		
		  	bound by this Lease whether or not the Guarantor is made a party to legal proceedings for the recovery of the amount due or owing to the Landlord as aforesaid by any other person
and whether the formalities required by any law of Jersey whether existing or future in regard to the rights or obligations of sureties shall or shall not have been observed.
		
	3.3	  	The Guarantor further waives any right which the Guarantor may have under the existing or future laws of Jersey whether by virtue of the “droit de division” or
otherwise to require that any liability under this Lease be divided or apportioned with any other person or reduced in any manner whatsoever.
		
	4	  	Postponement of claims by Guarantor against Tenant
		
		  	The Guarantor hereby further covenants with the Landlord that the Guarantor shall not claim in any liquidation bankruptcy composition or arrangement of the Tenant in competition
with the Landlord and shall remit to the Landlord the proceeds of all judgments and all distributions it may receive from any liquidator trustee in bankruptcy or supervisor of the Tenant and shall hold for the benefit of the Landlord all security
and rights the Guarantor may have over assets of the Tenant whilst and to the extent that any liabilities of the Tenant or the Guarantor to the Landlord remain outstanding.
		
	5	  	Postponement of participation by Guarantor in security
		
		  	The Guarantor shall not be entitled to participate in any security held by the Landlord in respect of the Tenant’s obligations to the Landlord under this Lease or to stand
in the place of the Landlord in respect of any such security until all the obligations of the Tenant or the Guarantor to the Landlord under this Lease have been performed or discharged.
		
	6	  	No release of Guarantor
		
		  	None of the following or any combination thereof shall release discharge or in any way lessen or affect the liability of the Guarantor under this Lease:
		
	6.1	  	any neglect delay or forbearance of the Landlord in endeavouring to obtain payment of the rents or other amounts required to be paid by the Tenant or in enforcing the performance
or observance of any of the obligations of the Tenant under this Lease;

			
		
	6.2	  	any refusal by the Landlord to accept rent tendered by or on behalf of the Tenant at a time when the Landlord was entitled (or would after the service of a notice under section
146 of the Law of Property Act 1925 have been entitled) to re-enter the Premises;
		
	6.3	  	any extension of time given by the Landlord to the Tenant;
		
	6.4	  	(subject to section 18 of the Landlord and Tenant (Covenants) Act 1995) any variation of the terms of this Lease (including any reviews of the rent payable under this Lease) or
the transfer of the Landlord’s reversion or the assignment of this Lease;
		
	6.5	  	any change in the identity constitution structure or powers of any of the Tenant the Guarantor the Landlord or the liquidation administration or bankruptcy (as the case may be)
of either the Tenant or the Guarantor;
		
	6.6	  	any legal limitation or any immunity disability or incapacity of the Tenant (whether or not known to the Landlord) or the fact that any dealings with the Landlord by the Tenant
may be outside or in excess of the powers of the Tenant; or
		
	6.7	  	any other act omission matter or thing whatsoever whereby but for this provision the Guarantor would be exonerated either wholly or in part (other than a release under seal given
by the Landlord).
		
	7	  	Disclaimer or forfeiture of Lease
		
	7.1	  	The Guarantor hereby further covenants with the Landlord that:
		
	7.1.1	  	if the Crown or a liquidator or trustee in bankruptcy shall disclaim or surrender this Lease; or
		
	7.1.2	  	if this Lease shall be forfeited; or
		
	7.1.3	  	if the Tenant shall cease to exist
		
		  	THEN the Guarantor shall if the Landlord by notice in writing given to the Guarantor within 180 days after such disclaimer or other event so requires accept from and execute and
deliver to the Landlord a counterpart of a new lease of the Premises for a term commencing on the date of the disclaimer or other event and continuing for the residue then remaining unexpired of the Term such new lease to be at the cost of the
Guarantor and to be at the same rents and subject to the same covenants conditions and provisions as are contained in this Lease.

			
		
	7.2	  	If the Landlord shall not require the Guarantor to take a new lease the Guarantor shall nevertheless upon demand pay to the Landlord a sum equal to the Rent and other sums that
would have been payable under this Lease but for the disclaimer or other event in respect of the period from and including the date of such disclaimer or other event until the expiration of 180 days therefrom or until the Landlord shall have granted
a lease of the Premises to a third party (whichever shall first occur).
		
	8	  	Benefit of guarantee and indemnity
		
		  	This guarantee and indemnity shall enure for the benefit of the successors and assigns of the Landlord under this Lease without the necessity for any assignment
thereof.
		
	9	  	Value Added Tax
		
		  	Where, pursuant to the terms of this Lease, the Landlord or any other person (for the purposes of this paragraph 9, the “Supplier”) makes or is deemed to make a
supply to the Guarantor for Value Added Tax purposes and Value Added Tax is or becomes chargeable on such supply, the Guarantor shall on demand pay to the Supplier (in addition to any other consideration for such supply) a sum equal to the amount of
such Value Added Tax and the Supplier shall provide the Guarantor with a Value Added Tax invoice in respect of such supply in accordance with the requirements of the Value Added Tax Act 1994.

 FIFTH SCHEDULE 
 Matters to which the Premises are subject 
  

			
		
	1	  	The matters referred to in the registers of title numbers NGL862671, NGL848066, NGL875562 and LN77894 as at 29 January 2010, other than the entries relating to financial
charges.
		
	2	  	The following deeds relating to Throgmorton Avenue:
		
	2.1	  	Deed of Grant dated 17 June 1874 made between the Head Landlord (1) and The Carpenters Company (2);
		
	2.2	  	Agreement dated 3 August 1886 made between the Head Landlord (1) and The Carpenters Company (2);
		
	2.3	  	Deed of Licence and Agreement dated 7 June 1887 made between The London and County Land and Building Company Limited (1) and the Head Landlord (2);
		
	2.4	  	Rules and Regulations dated 21 March 1889 made between the Head Landlord (1) and The Carpenters Company (2); and
		
	2.5	  	Agreement effective 1 September 1994 between the Head Landlord (1) and The Carpenters Company (2).
		
	3	  	The Head Lease and the Copthall Avenue Head Lease.
		
	4	  	Agreement dated 16 December 2008 made pursuant to Section 106 of the Town and Country Planning Act 1990 made between The Mayor and Commonalty and Citizens of the City of London
(1) the Landlord (2) the Head Landlord (3) and Lehman Brothers International (Europe) (4) (other than clause 2.1 thereof).
		
	5	  	Lease dated 6 May 2009 between the Landlord (1) and EDF Energy Networks (LPN) plc (2).
		
	6	  	Deed of Grant dated 6 May 2009 between The Carpenters Company and the Head Landlord (1) EDF Energy Networks (LPN) plc (2) and the Landlord (3).

 SIXTH SCHEDULE 
 Authorised Guarantee Agreement to be given by Tenant and any Guarantor 
 pursuant to clause 4.17.17.1 
  

			
	 DATED
 PARTIES

		
	(1)	  	[                                        
] whose registered office is at
[                                        ]
(registered
number:                                        )
(the “Tenant”) [and]
		
	(2)	  	[                                        
] whose registered office is at
[                                        ]
(registered
number:                                        )
(the “Landlord”) [and]
		
	(3)	  	[                                        
] whose registered office is at
[                                        ]
(registered
number:                                        )
(the “Guarantor”)]
		
	RECITALS	  	
		
	(A)	  	This Agreement is made pursuant to the lease dated [                    ] and
made between (1) Mourant & Co Trustees Limited and Mourant Property Trustees Limited (as Trustees of The Drapers Gardens Unit Trust) and (2) BlackRock Investment Management (UK) Limited (the “Lease”) which expression shall
include (where the context so admits) all deeds and documents supplemental to it (whether expressed to be so or not) relating to the premises at Drapers Gardens, 12 Throgmorton Avenue, London EC2 (the “Premises”).
		
	(B)	  	The Tenant holds the Premises under the Lease and wishes to assign the Lease to
[                                        ] (the
“Assignee”), and pursuant to the Lease the Landlord’s consent is required to such assignment (the “Assignment”) and such consent is given subject to a condition that the Tenant [and the Guarantor] [is/are] to
enter into a deed in the form of this Deed.

			
	OPERATIVE PROVISIONS
		
	1	  	Authorised Guarantee
		
		  	Pursuant to the condition referred to above, the Tenant covenants with the Landlord, as a primary obligation, that the Assignee or the Tenant shall, at all times during the
period (the “Guarantee Period”) from the completion of the Assignment until the Assignee shall have ceased to be bound by the tenant covenants (which in this Deed shall have the meaning attributed by section 28(1) of the
Landlord and Tenant (Covenants) Act 1995 (the “1995 Act”)) pursuant to the 1995 Act contained in the Lease (including the payment of the rents and all other sums payable under the Lease in the manner and at the times specified in
the Lease), duly perform and observe the tenant covenants.
		
	2	  	Tenant’s liability
		
	2.1	  	The Tenant agrees that the Landlord, in the enforcement of its rights under this Deed, may proceed against the Tenant as if the Tenant were the sole or principal debtor in
respect of the tenant covenant in question.
		
	2.2	  	For the avoidance of doubt, notwithstanding the termination of the Guarantee Period the Tenant shall remain liable under this Deed in respect of any liabilities which may have
accrued prior to such termination.
		
	2.3	  	For the avoidance of doubt the Tenant shall be liable under this Deed for any costs and expenses incurred by the Landlord in enforcing the Tenant’s obligations under this
Deed.
		
	3	  	Disclaimer of Lease
		
		  	The Tenant further covenants with the Landlord that if the Crown or a liquidator or trustee in bankruptcy shall disclaim the Lease during the Guarantee Period the Tenant shall,
if the Landlord by notice in writing given to the Tenant within six months after such disclaimer, accept from and execute and deliver to, the Landlord a counterpart of a new lease of the Premises for a term commencing on the date of the disclaimer
and continuing for the residue then remaining unexpired of the term of the Lease, such new lease to be at the same rents and subject to the same covenants and provisions as are contained in the Lease.
		
	4	  	Supplementary provisions
		
		  	By way of provision incidental or supplementary to clauses 1, 2 and 3 of this Deed:

			
		
	4.1	  	Postponement of claims by Tenant
		
		  	The Tenant further covenants with the Landlord that the Tenant shall:
		
	4.1.1	  	not claim in any liquidation, bankruptcy, composition or arrangement of the Assignee in competition with the Landlord and shall remit to the Landlord the proceeds of all
judgments and all distributions it may receive from any liquidator, trustee in bankruptcy or supervisor of the Assignee;
		
	4.1.2	  	hold for the benefit of the Landlord all security and rights the Tenant may have over assets of the Assignee whilst and to the extent that any liabilities of the Tenant or the
Assignee to the Landlord remain outstanding; and
		
	4.1.3	  	not exercise any right or remedy in respect of any amount paid or any liability incurred by the Tenant in performing or discharging its obligations contained in this Deed, or
claim any contribution from any other guarantor.
		
	4.2	  	Postponement of participation by Tenant in security
		
		  	The Tenant shall not be entitled to participate in any security held by the Landlord in respect of the Assignee’s obligations to the Landlord under the Lease or to stand in
the place of the Landlord in respect of any such security until all the obligations of the Tenant or the Assignee to the Landlord under the Lease have been performed or discharged.
		
	4.3	  	No release of Tenant
		
		  	None of the following, or any combination of them, shall release, determine, discharge or in any way lessen or affect the liability of the Tenant as principal obligor under this
Deed or otherwise prejudice or affect the right of the Landlord to recover from the Tenant to the full extent of this guarantee:
		
	4.3.1	  	any neglect, delay or forbearance of the Landlord in endeavouring to obtain payment of any rents or other amounts required to be paid by the Assignee or in enforcing the
performance or observance of any of the obligations of the Assignee under the Lease;
		
	4.3.2	  	any refusal by the Landlord to accept rent tendered by or on behalf of the Assignee at a time when the Landlord was entitled (or would after the service of a notice under section
146 of the Law of Property Act 1925 have been entitled) to re-enter the Premises;

			
		
	4.3.3	  	any extension of time given by the Landlord to the Assignee;
		
	4.3.4	  	any reviews of the rent payable under the Lease and (subject to section 18 of the 1995 Act) any variation of the terms of the Lease or the transfer of the Landlord’s
reversion;
		
	4.3.5	  	any change in the constitution, structure or powers of either the Tenant, the Assignee or the Landlord or the liquidation, administration or bankruptcy (as the case may be) of
either the Tenant or the Assignee;
		
	4.3.6	  	any legal limitation, or any immunity, disability or incapacity of the Assignee (whether or not known to the Landlord) or the fact that any dealings with the Landlord by the
Assignee may be outside, or in excess of, the powers of the Assignee; or
		
	4.3.7	  	any other deed, act, omission, failure, matter or thing whatsoever as a result of which, but for this provision, the Tenant would be exonerated either wholly or partly (other
than a release executed and delivered as a deed by the Landlord or a release effected by virtue of the 1995 Act).
		
	4.4	  	Costs of new lease
		
		  	The Landlord’s reasonable costs in connection with any new lease granted pursuant to clause 3 of this Deed shall be borne by the Tenant and paid to the Landlord (together
with Value Added Tax) upon completion of such new lease.
		
	4.5	  	Value Added Tax
		
		  	Where, pursuant to the terms of this Lease, the Landlord or any other person (for the purposes of this clause 4.5, the “Supplier”) makes or is deemed to make a
supply to the Tenant for Value Added Tax purposes and Value Added Tax is or becomes chargeable on such supply, the Tenant shall on demand pay to the Supplier (in addition to any other consideration for such supply) a sum equal to the amount of such
Value Added Tax and the Supplier shall provide the Tenant with a Value Added Tax invoice in respect of such supply in accordance with the requirements of the Value Added Tax Act 1994.

			
		
	5	  	[Guarantee
		
	5.1	  	Indemnity by Guarantor
		
		  	The Guarantor hereby covenants with the Landlord as a primary obligation that the Tenant shall at all times until the expiry of the Guarantee Period duly perform and observe all
the covenants on the part of the Tenant contained in this Deed including (without limitation) the payment of the rents reserved and all other sums payable under the Lease in the manner and at the times specified in the Lease and the Guarantor shall
indemnify and keep indemnified the Landlord against all claims demands losses damages liability costs fees and expenses whatsoever sustained by the Landlord by reason of or arising directly or indirectly out of any default by the Tenant in the
performance and observance of any of its obligations or the payment of any rents and other sums.
		
	5.2	  	Guarantor jointly and severally liable with Tenant
		
		  	The Guarantor hereby further covenants with the Landlord that the Guarantor is jointly and severally liable with the Tenant (whether before or after any disclaimer by a
liquidator or trustee in bankruptcy) for the fulfilment of all the obligations of the Tenant under this Deed and/or the Lease and agrees that the Landlord in the enforcement of its rights hereunder may proceed against the Guarantor as if the
Guarantor was named as the Tenant in this Deed and/or the Lease.
		
	5.3	  	Waiver by Guarantor
		
	5.3.1	  	The Guarantor hereby waives any right to require the Landlord to proceed against the Tenant or to pursue any other remedy whatsoever which may be available to the Landlord before
proceeding against the Guarantor.
		
	5.3.2	  	The Guarantor waives any right which at any time the Guarantor has under the existing or future laws of Jersey whether by virtue of the “droit de discussion” or
otherwise to require that recourse by had to the assets of any other person before any claim is enforced against the Guarantor in respect of the obligations hereby assumed by the Guarantor and the Guarantor undertakes that if at any time the
Landlord (or any trustee or agent on its behalf) sues the Guarantor and no other person in respect of any such obligations the Guarantor shall not claim that any other person be made a party to the proceedings and the Guarantor agrees to be bound by
this Deed and/or the Lease whether or not the Guarantor is made a party to legal proceedings for the recovery of the amount due or owing to the Landlord as aforesaid by any other person and whether the formalities required by any law of Jersey
whether existing or future in regard to the rights or obligations of sureties shall or shall not have been observed.

			
		
	5.3.3	  	The Guarantor further waives any right which the Guarantor may have under the existing or future laws of Jersey whether by virtue of the “droit de division” or
otherwise to require that any liability under this Deed and/or the Lease be divided or apportioned with any other person or reduced in any manner whatsoever.
		
	5.4	  	Postponement of claims by Guarantor against Tenant
		
		  	The Guarantor hereby further covenants with the Landlord that the Guarantor shall not claim in any liquidation bankruptcy composition or arrangement of the Tenant in competition
with the Landlord and shall remit to the Landlord the proceeds of all judgements and all distributions it may receive from any liquidator trustee in bankruptcy or supervisor of the Tenant and shall hold for the benefit of the Landlord all security
and rights the Guarantor may have over assets of the Tenant whilst and to the extent that any liabilities of the Tenant or the Guarantor to the Landlord remain outstanding.
		
	5.5	  	Postponement of participation by Guarantor in security
		
		  	The Guarantor shall not be entitled to participate in any security held by the Landlord in respect of the Tenant’s obligations to the Landlord under this Deed and/or the
Lease or to stand in the place of the Landlord in respect of any such security until all the obligations of the Tenant or the Guarantor to the Landlord under this Deed and/or the Lease have been performed or discharged.
		
	5.6	  	No release of Guarantor
		
		  	None of the following or any combination thereof shall release discharge or in any way lessen or affect the liability of the Guarantor under this Deed:
		
	5.6.1	  	any neglect delay or forbearance of the Landlord in endeavouring to obtain payment of the rents or other amounts required to be paid by the Tenant or Assignee and/or in enforcing
the performance or observance of any of the obligations of the Tenant under this Deed or the Tenant or Assignee under the Lease;
		
	5.6.2	  	any refusal by the Landlord to accept rent tendered by or on behalf of the Tenant or Assignee at a time when the Landlord was entitled (or would after the service of a notice
under section 146 of the Law of Property Act 1925 have been entitled) to re-enter the Premises;
		
	5.6.3	  	any extension of time given by the Landlord to the Tenant or Assignee;

					
		
	5.6.4	  	(subject to section 18 of the Landlord and Tenant (Covenants) Act 1995) any variation of the terms of the Lease (including any reviews of the rent payable under the
Lease) or the transfer of the Landlord’s reversion or the assignment of this Deed or the Lease with or without the consent of the Guarantor;
		
	5.6.5	  	any change in the identity constitution structure or powers of any of the Tenant the Assignee the Guarantor or the Landlord or the liquidation administration or
bankruptcy (as the case may be) of the Guarantor, the Tenant or the Assignee;
		
	5.6.6	  	any legal limitation or any immunity disability or incapacity of the Tenant or the Assignee (whether or not known to the Landlord) or the fact that any dealings with
the Landlord by the Tenant or the Assignee may be outside or in excess of the powers of the Tenant or the Assignee; or
		
	5.6.7	  	any other act omission matter or thing whatsoever whereby but for this provision the Guarantor would be exonerated either wholly or in part (other than a release
under seal given by the Landlord).
		
	5.7	  	Disclaimer or forfeiture of Lease
		
	5.7.1	  	The Guarantor hereby further covenants with the Landlord that if during the Guarantee Period:
			
		  	5.7.1.1	  	the Crown or a liquidator or trustee in bankruptcy shall disclaim or surrender the Lease; or
			
		  	5.7.1.2	  	the Lease shall be forfeited; or
			
		  	5.7.1.3	  	the Assignee shall cease to exist
		
		  	then the Guarantor shall if the Landlord by notice in writing given to the Guarantor within 180 days after such disclaimer or other event so requires accept from and
execute and deliver to the Landlord a counterpart of a new lease of the Premises in the same form as the Lease such new lease of the Premises to be for a term commencing on the date of the disclaimer or other event and continuing for the residue
then remaining unexpired of the Term such new lease to be at the cost of the Guarantor and to be at the same rents and subject to the same covenants conditions and provisions as are contained in the Lease.
		
	5.7.2	  	If the Landlord shall not require the Guarantor to take a new lease the Guarantor shall nevertheless upon demand pay to the Landlord a sum equal to the Rent and other
sums that would have been payable under the Lease but for the disclaimer or

			
		
		  	other event in respect of the period from and including the date of such disclaimer or other event until the expiration of 180 days therefrom or until the Landlord shall have
granted a lease of the Premises to a third party (whichever shall first occur).
		
	5.8	  	Benefit of guarantee and indemnity
		
		  	This guarantee and indemnity shall enure for the benefit of the successors and assigns of the Landlord under the Lease without the necessity for any assignment
thereof.
		
	5.9	  	Value Added Tax
		
		  	Where, pursuant to the terms of this Deed and/or the Lease, the Landlord or any other person (for the purposes of this clause 5.9 the “Supplier”) makes or is
deemed to make a supply to the Guarantor for Value Added Tax purposes and Value Added Tax is or becomes chargeable on such supply, the Guarantor shall on demand pay to the Supplier (in addition to any other consideration for such supply) a sum equal
to the amount of such Value Added Tax and the Supplier shall provide the Guarantor with a Value Added Tax invoice in respect of such supply in accordance with the requirements of the Value Added Tax Act 1994.
		
	6	  	Guarantor to join in new lease
		
		  	If the Tenant shall be required to take up a new lease pursuant to clause 3 of this Deed, the Guarantor shall join in, and execute and deliver to the Landlord a counterpart of,
such new lease in order to guarantee the obligations of the Tenant under it in the terms of schedule 4 to the Lease.]
		
	7	  	Invalidity of certain provisions
		
		  	If any term of this Deed or the application thereof to any person or circumstances shall to any extent be invalid or unenforceable the same shall be severable and the remainder
of this Deed or the application of such term to persons or circumstances other than those as to which it is held invalid or unenforceable shall not be affected thereby and each term and provision of this Deed shall be valid and be enforced to the
fullest extent permitted by law.
		
	8	  	[Limitation of liability
		
	8.1	  	Mourant & Co Trustees Limited and Mourant Property Trustees Limited (the “Trustees”) are entering into this Deed solely in their capacities as trustees of the
Drapers Gardens Unit Trust (the “Trust”) and, as such, any liability on the part of

			
		
		  	the Trustees pursuant to this Lease or arising as a result of any part of this Deed is limited to the assets held on trust for the time being of the Trust which are in its
possession or under their control as trustees of the Trust.
		
	8.2	  	Notwithstanding any other provision of this Deed, the Trustees have no obligation to meet any claim or liability under this Deed except to the extent that such claim or liability
can properly be met by the Trustees out of assets held by the Trustees on behalf of the Trust.
		
	8.3	  	The parties hereto acknowledge that the effect of clauses 8.1 and 8.2 is that they shall have no recourse to any assets of the Trustees other than to those assets which are in
their possession or under their control as trustees of the Trust.
		
	8.4	  	The parties acknowledge that references in this Deed to the Trustees are references to the Trustees in their capacity as trustees of the Trust and references to actions in such
capacity only and not to any other capacity whatsoever.]

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

 SEVENTH SCHEDULE 
 Expert determination 
  

			
	1	  	In this Lease, where any issue is required to be dealt with by, or submitted for the determination of, an Independent Person, the following provisions of this schedule are to
apply but, in case of conflict with other provisions specifically relating to expert determination elsewhere in this Lease, those other provisions are to prevail to the extent of the conflict.
		
	2	  	The Independent Person is to be appointed by the parties jointly, or if they cannot or do not agree on the appointment, appointed by whichever of the following is appropriate:

		
	2.1	  	the president from time to time of the Royal Institution of Chartered Surveyors; or
		
	2.2	  	the president from time to time of the Institute of Chartered Accountants in England and Wales;
		
		  	or in either case the duly appointed deputy of the president, or other person authorised by him to make appointments on his behalf.
		
	3	  	The Independent Person so appointed is to act as an expert, and not as an arbitrator.
		
	4	  	The Independent Person must afford the parties the opportunity within such a reasonable time limit as he may stipulate to make representations to him (accompanied by professional
rental valuations, reports or other appropriate evidence in the relevant circumstances) and permit each party to make submissions on the representations of the other.
		
	5	  	Neither the Landlord nor the Tenant may without the consent of the other disclose to the Independent Person correspondence or other evidence to which the privilege of
non-production (“without prejudice”) properly attaches.
		
	6	  	The fees and expenses of the Independent Person, including the cost of his nomination, are to be borne as he may direct (but in the absence of such a direction, by the parties in
equal shares). The costs of the parties in relation to the reference to the Independent Person shall be borne as he may direct but, in the absence of any such direction, each party shall bear its own costs.

			
		
	7	  	One party may pay the costs required to be borne by another party if they remain unpaid for more than 21 days after they become due and then recover these and any incidental
expenses incurred from the other party on demand.
		
	8	  	If the Independent Person refuses to act, becomes incapable of acting or dies, the Landlord or the Tenant may request the appointment of another Independent Person in his stead
under paragraph 2.
		
	9	  	The determination of the Independent Person, except in case of manifest error, is to be binding on the Landlord and the Tenant.

			
	Signed as a Deed on behalf of Mourant & Co Trustees Limited, a company registered in Jersey in its capacity as trustee of The Drapers Gardens
Unit Trust by Robin Baird and Alex King, being persons who, in accordance with the laws of that territory, are acting under the authority of the company	  	)
	  	)
	  	)
	  	
		  	Robin Baird
		
		  	Authorised signatory
		
		  	Alex King
		
		  	Authorised signatory
		
	Signed as a Deed on behalf of Mourant Property Trustees Limited, a company registered in Jersey in its capacity as trustee of The Drapers Gardens
Unit Trust by Robin Baird and Alex King, being persons who, in accordance with the laws of that territory, are acting under the authority of the company	  	)
	  	)
	  	)
	  	
	  	Robin Baird
		
		  	Authorised signatory
		
		  	Alex King
		
		  	Authorised signatory

 Lovells 

			
	Signed as a Deed by BLACKROCK INVESTMENT MANAGEMENT (UK) LIMITED acting by two directors or a director and secretary:	  	)
	  	)
	  	)
	  	)
	  	
		  	Director
		
		  	Director/Secretary

 Lovells 

 Appendix 
 Building Specification 
 Lovells

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