Document:

Exhibit 10.1

  

   

  

  
    Certain identified information has been excluded from this exhibit because it is both not material and is the type that the registrant treats as
      private or confidential.

     

    

     

    

    

    

    PURCHASE AGREEMENT

    

    

    between

    

    

    Pacific Gas and Electric Company,

    a California corporation

    

    

    and

    

    

    Hines Atlas US LP,

    a Delaware limited partnership

     

    

     

    

    

    

    May 21, 2021

    

    

    

    

    

    

    25 and 77 Beale Street, 215 and 245 Market Street, and 50 Main Street

    San Francisco, CA

    

    

    
      
        

    

    
    

      TABLE OF CONTENTS

    

    

    Page

    
      	
              ARTICLE 1

            	
              Purchase and Sale

            	
              1

            
	
              1.1

            	 	
              The Property

            	
              1

            
	
              1.2

            	 	
              Diligence; Property Access

            	
              2

            
	
              ARTICLE 2

            	
              Purchase Price

            	
              5

            
	
              2.1

            	 	
              Amount and Payment

            	
              5

            
	
              2.2

            	 	
              Deposit

            	
              5

            
	
              2.3

            	 	
              Liquidated Damages

            	
              6

            
	
              2.4

            	 	
              Seller Default

            	
              6

            
	
              ARTICLE 3

            	
              Completion of Sale

            	
              7

            
	
              3.1

            	 	
              Place and Date

            	
              7

            
	
              3.2

            	 	
              CPUC Approval

            	
              7

            
	
              ARTICLE 4

            	
              Title and Condition

            	
              7

            
	
              4.1

            	 	
              Title to the Property

            	
              7

            
	
              4.2

            	 	
              Leases

            	
              7

            
	
              4.3

            	 	
              Personal Property

            	
              8

              

            
	
              4.4

            	 	
              Contracts and Permits

            	
              8

            
	
              4.5

            	 	
              Acceptance of Title

            	
              8

            
	
              4.6

            	 	
              “AS IS” Sale

            	
              8

            
	
              4.7

            	 	
              Environmental Definitions

            	
              11

            
	
              ARTICLE 5

            	
              Representations and Warranties

            	
              11

            
	
              5.1

            	 	
              Seller

            	
              11

            
	
              5.2

            	 	
              Buyer

            	
              13

            
	
              ARTICLE 6

            	
              Covenants

            	
              14

            
	
              6.1

            	 	
              Seller

            	
              14

            
	
              6.2

            	 	
              Buyer

            	
              15

            
	
              6.3

            	 	
              Casualty Damage

            	
              15

            
	
              6.4

            	 	
              Eminent Domain

            	
              16

            
	
              ARTICLE 7

            	
              Conditions Precedent

            	
              17

            
	
              7.1

            	 	
              Seller

            	
              17

            
	
              7.2

            	 	
              Buyer

            	
              19

            
	
              ARTICLE 8

            	
              Closing

            	
              19

            
	
              8.1

            	 	
              Procedure

            	
              19

            
	
              8.2

            	 	
              Possession

            	
              19

            
	
              8.3

            	 	
              Closing Costs

            	
              19

            
	
              8.4

            	 	
              Prorations

            	
              19

            
	
              8.5

            	 	
              Post-Closing Access

            	
              21

            
	
              ARTICLE 9

            	 	
              General

            	
              21

            
	
              9.1

            	 	
              Notices

            	
              21

            
	
              9.2

            	 	
              Attorneys’ Fees

            	
              23

            
	
              9.3

            	 	
              Governing Law

            	
              23

            
	
              9.4

            	 	
              Construction

            	
              23

            
	
              9.5

            	 	
              Terms Generally

            	
              23

            

      

      

    

    

     

    

    
      i

      
        

    

    
     

    

    
      	 

            	 	 

            	
              

              

            
	
              9.6

            	 	
              Further Assurances

            	
              23

            
	
              9.7

            	 	
              Partial Invalidity

            	
              23

            
	
              9.8

            	 	
              Waivers

            	
              24

            
	
              9.9

            	 	
              Miscellaneous

            	
              24

            
	
              9.10

            	 	
              Time is of the Essence

            	
              24

            
	
              9.11

            	 	
              Electronic Signatures

            	
              24

            
	
              9.12

            	 	
              Exculpation

            	
              24

            
	
              9.13

            	 	
              Joint and Several Obligations

            	
              25

            
	
              9.14

            	 	
              Business Day

            	
              25

            

    

     

    

    EXHIBITS

    	Exhibit A	
            Grant Deed

          

    	Exhibit B	
            Assignment of Leases

          

    	Exhibit C	
            Bill of Sale

          

    	Exhibit D	
            Assignment of Contracts

          

    	Exhibit E	
            Seller’s Closing Certificate

          

    	Exhibit F	
            Buyer’s Closing Certificate

          

    	Exhibit G	
            Certificate of Non-foreign Status

          

    	Exhibit H	
            PG&E Lease

          

    	Exhibit I	
            Tenant Estoppel Certificate

          

    	Exhibit J	
            Utility Access Agreement

          

    

    

    SCHEDULES

    	Schedule 1	
            Legal Description of Real Property

          

    	Schedule 2	
            Leases

          

    	Schedule 3	
            Excluded Property

          

    	Schedule 4	
            Contracts

          

    	Schedule 5	
            List of Building, Engineering and Environmental Reports and Other Due Diligence Documents Provided as of the Date of the Agreement

          

    	Schedule 6	
            Seller Disclosures

          

    

    

    
      ii

      
        

    

    
     

      

    PURCHASE AGREEMENT

    

    

    THIS PURCHASE AGREEMENT (this “Agreement”), is entered into
      as of May 21, 2021 (the “Effective Date”), by and between Pacific Gas and Electric Company, a California corporation (“Seller”), and Hines Atlas US LP, a Delaware limited partnership (“Buyer”).

    

    

    W I T N E S S E T H:

    

    

    In consideration of the mutual covenants in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, Seller and Buyer agree as follows:

    

    

    ARTICLE 1

      

      

      Purchase and Sale

    

    

    1.1          The Property.  Seller agrees to sell to Buyer and Buyer agrees to purchase from Seller, in accordance with this Agreement, all of Seller’s right, title and interest in and to the following property (collectively the “Property”):

     

      

    (a)          Seller’s interest in that certain
        real property commonly known as 25 and 77 Beale Street, 215 and 245 Market Street, and 50 Main Street, San Francisco, California, as more particularly described on Schedule 1
        attached hereto (the “Real Property”);

    

    

    (b)          Except for those items described on Schedule 3 attached hereto, all of Seller’s right, title and interest in and to all improvements and fixtures located on the Real Property, including, without limitation, all
        apparatus, equipment and appliances used in connection with the operation or occupancy of the Real Property, such as heating and air conditioning systems and facilities used to provide any utility, refrigeration, ventilation, garbage disposal, or
        other services on the Real Property (collectively, the “Improvements”);

    

    

    (c)          Subject to the PG&E Lease (as
        defined below), Seller’s interest in all leases, lease amendments, lease guaranties, work letter agreements, improvement agreements, subleases, assignments, licenses, concessions and other agreements with all persons (“Tenants”) leasing, using or occupying the Property other than the premises covered by the PG&E Lease, including those described on Schedule 2 attached hereto (the “Leases”);

    

    

    (d)          Except for those items described on Schedule 3 attached hereto and those items within the premises demised under the PG&E Lease (as defined below), all tangible and intangible personal property owned by
        Seller, located on or in the Real Property and used in connection with the operation and maintenance of the Property (and not with respect to any other property owned or managed by Seller or its affiliates) (the “Personal Property”); and

    

    

    (e)          Seller’s interest in all construction
        and service contracts and agreements described on Schedule 4 attached hereto (the “Contracts”)

        and all warranties, guaranties, building permits, certificates of occupancy, and other certificates, permits, licenses and approvals relating to the Property (the “Permits”);

        provided, however, that Buyer shall be responsible for any expense incurred in connection with the transfer of such Permits.

     

      

     

      

    
      1

      
        

    

    

    

    1.2          Diligence; Property Access.

    

    

    (a)          Prior to the Effective Date, Buyer
        has in good faith and with diligence, at Buyer’s sole cost and expense, reviewed and investigated the physical and environmental condition of the Property, the character, quality and general utility of the Property, the zoning, land use,
        environmental and building requirements and restrictions applicable to the Property, the state of title to the Property, the Leases, the Contracts and the Permits.  Buyer shall be responsible for preparing and paying the cost of any amendment or
        update to the survey of the Property dated May 21, 2021 prepared by BKF Engineers (such existing survey, the “Survey”) that may be required by Buyer.  Buyer
        shall have the right to continue between the Effective Date and the Closing Date in accordance with this Section 1.2, all examinations, tests, analyses, investigations,
        surveys, inquiries and other inspections all of which shall be performed by Buyer at Buyer’s sole cost and expense and shall be subject to such reasonable conditions as Seller may impose, including a requirement that Buyer and its authorized
        representatives and agents be accompanied by a representative of Seller while present on the Property and including site access guidelines and requirements of Seller; provided that Buyer shall have no right to terminate based on such ongoing access
        and investigations.

     

      

    (b)          Except for Privileged Information (as
        defined below), Seller has and shall make available to Buyer at the Property and/or through a virtual data room certain items in Seller’s possession or control (collectively, the “Diligence Documents”).  Buyer acknowledges that Seller has made available to Buyer, prior to the Effective Date, the materials described in Schedule 5
        attached hereto.

    

    

    (c)          Notwithstanding anything to the
        contrary herein, Seller shall not be required to  provide, copy or make available to Buyer (and the Diligence Documents do not include) (a) any of Seller’s internal memoranda, notes, emails, meeting minutes or other proprietary documents,
        correspondence or communications between partners, officers or members, directly or indirectly, of Seller or any of its constituent entities or any of their employees, (b) any confidential or proprietary documents (including information covered by
        the attorney-client privilege), (c) any appraisals, valuations or projections prepared by Seller or any third party, or (d) any documents, files or records regarding the financing or refinancing of the Property or Seller’s acquisition of the
        Property or the formation of Seller (or its constituent entities) (the “Privileged Information”).  Buyer acknowledges that the Diligence Documents relating to
        the Property to be furnished by Seller to Buyer contain confidential and proprietary information.  Buyer shall prior to Closing keep the Diligence Documents strictly confidential pursuant to and accordance with the terms of the Confidentiality and
        Nondisclosure Agreement dated as of February 17, 2021 between Buyer and Seller (the “Confidentiality Agreement”).  No representation or warranty in respect of
        any of the Diligence Documents (including the accuracy or completeness thereof) are or shall be deemed to be made or provided by Seller relating thereto or to the Property or otherwise, and Buyer hereby acknowledges that no representations or
        warranties, either express or implied, were made by Seller (other than as expressly set forth in this Agreement or the documents and instruments executed by Seller in connection with this Agreement) with respect to any of the foregoing.  To the
        extent any person, other than Seller as expressly set forth herein, including any surveyors, appraisers, title agents, Tenants, escrow agent, attorneys, engineering consultants or environmental consultants, brokers, made any representations or
        warranties (other than as expressly set forth in Section 5.1) or any other statements (verbal or written) to Buyer, or provided any documents, reports, studies,
        information or other materials, Buyer acknowledges it shall have no claim or right of action against Seller arising therefrom, nor any right to rescind or revoke this Agreement on account thereof.

     

      

     

      

    
      2

      
        

    

     

      

    (d)          Buyer hereby indemnifies and agrees
        to defend and hold harmless Seller and Seller’s partners, officers, directors, employees, licensees, contractors, agents, invitees, counsel, brokers, and attorneys of Seller, its counsel or brokers (individually, each a “Seller Party” and collectively, “Seller Parties”) from and against any and all obligations,
        losses, injuries, damages, claims, liens, costs, expenses, demands, liabilities, penalties and investigation costs, including reasonable attorneys’ fees and costs (collectively, “Losses”), incurred in connection with or arising out of or in any way connected with (a) any entry on the Property by Buyer or any of Buyer’s representatives, employees, agents, consultants or contractors, (b) the Due
        Diligence Inspections, (c) any act or negligent omission by Buyer or Buyer Parties in connection with this Agreement, or (d) Buyer’s breach of this Section 1.2 of this Agreement, provided, however, that such indemnity shall not extend to Losses
        arising out of the mere discovery of adverse facts by Buyer or Buyer’s consultants.  If Seller notifies Buyer of a claim to which it is entitled to indemnification, and Buyer fails to notify Seller within ten (10) business days thereafter that
        Buyer intends to defend the claim, or at any time thereafter Buyer fails to diligently defend or settle the claim, Seller or the Seller Party shall be entitled to defend such claim, and settle or compromise such claim, subject to the
        indemnification provided for herein.  Buyer shall not settle any claim for which Seller or a Seller Party may be liable without the prior written consent of Seller and the Seller Party unless Buyer indemnifies Seller and Seller Parties from all
        obligations of Buyer with respect to the claim.  Buyer’s obligations set forth in this Section shall survive the expiration or termination of this Agreement. 
        If this Agreement is terminated for any reason other than Seller’s default and Seller, at Seller’s option, requests any reports relating to the Property provided to Buyer by third parties (the “Buyer Reports”), Buyer shall deliver the Buyer Reports to Seller.  Notwithstanding anything to the contrary herein, Buyer shall not be required to provide, copy or make available to Seller any internal
        memoranda, appraisals and valuation reports and similar information or information covered by the attorney-client privilege.

    

    

    (e)          Buyer shall maintain, and shall
        ensure that those Buyer Parties entering the Property maintain commercial general liability insurance from an insurance company authorized to do business in the state where the Property is located insuring Buyer and its representatives against any
        liability arising out of any entry or inspections of the Property pursuant to the provisions hereof.  Such insurance maintained by Buyer (and Buyer Parties) shall be in the amount of Five Million Dollars ($5,000,000) per occurrence or, for Buyer
        Parties that are considered low risk based upon the activities to be conducted by them onsite, One Million Dollars ($1,000,000).  The required limit may be satisfied through a combination of primary and excess liability policies.  Any liability
        policy(ies) maintained by Buyer (and Buyer Parties) shall (i) insure the contractual liability of Buyer covering Seller, (ii) name the Seller (and its successors and assigns) and PG&E Corporation, a California corporation (and its successors
        and assigns) as additional insureds, (iii) contain a cross-liability provision, (iv) contain a provision that the insurance provided by Buyer (and Buyer Parties) hereunder shall be primary and noncontributing with any other insurance available to
        Seller (and its successors and assigns), and (v) be in form and substance adequate to insure against all liability of Buyer and Buyer Parties arising out of any entry or inspections of the Property pursuant to the provisions of this Section 1.2.  Buyer shall also maintain, and shall ensure that the applicable Buyer Parties maintain, auto liability coverage including owned, non-owned and hired vehicles
        with a combined single limit of no less than One Million Dollars ($1,000,000) per occurrence for bodily injury and property damage and Workers’ Compensation and Employer’s Liability in compliance with applicable Federal and State laws.  Buyer shall
        provide Seller with a certificate of insurance evidencing such insurance coverage, including additional insured status, prior to any entry or inspection of the Property.  The limits of insurance maintained by Buyer or Buyer Parties pursuant to this
        subsection shall not limit Buyer’s liability under this Agreement.

     

      

    
      3

      
        

    

    

    

    (f)          Buyer, by giving notice to Seller on
        or before the date that is two (2) business days after the discovery thereof, may object to any title exception in any update to the Preliminary Report.  Buyer shall be deemed to have approved title to the Property as shown in the Preliminary
        Report, as updated and the Survey, or any updates or new survey, unless Buyer objects to any title exception or survey matter in accordance with this Section 1.2.  If
        Buyer makes any such objection, Seller may, by giving notice to Buyer on or before the date that is three (3) business days after Buyer’s objection notice, elect either to remove such objections (or insure over such objections in a manner
        reasonably approved by Buyer) or not to remove such objections.  Seller shall be deemed to have elected not to remove any such objection (or insure over such objection) unless Seller elects to remove or insure over any such objection in accordance
        with this Section 1.2.  If Seller elects to remove or insure over any such objection in a manner reasonably approved by Buyer, such title exception or survey matter in
        question shall not be considered a Permitted Exception.  If Seller elects (or is deemed to have elected) not to remove or insure over any such objection, Buyer shall have the right, by giving notice to Seller on or before the date that is three (3)
        business days after Seller’s election not to cure (or deemed election not to cure), either to terminate this Agreement (in which case the Deposit and the Independent Consideration (as such terms are defined below) shall be delivered to and retained
        by Seller) or to withdraw such objection and accept title to the Property subject to the title exception or survey matter in question.  Notwithstanding the foregoing or anything in this Agreement to the contrary, in the event that Buyer objects to
        a new exception that constitutes a monetary lien and Seller does not elect to cure such lien or provide a credit at closing in the amount of such lien, then any exercise of such termination right shall result in a return of the Deposit to Buyer
        (less the Independent Consideration).  If Buyer does not exercise the right to terminate this Agreement in accordance with this Section 1.2, Buyer shall be deemed to have
        approved title to the Property subject to the title exception or survey matter in question and to have withdrawn such objection.  The following shall be considered “Permitted

          Exceptions”:  (i) the matters shown as exceptions in the Preliminary Report, or any updates thereto or the Survey or any updates or new survey and approved (or deemed to be approved) by Buyer pursuant to this Section 1.2; (ii) the Leases; (iii) [intentionally omitted], (iv) taxes and assessments which are not past
        due as of the Closing Date; (v) the PG&E Lease, (vi) the Utility Access Agreement (as defined below), and (vii) any other matters created, permitted or approved by Buyer.  If Seller requires additional time to remove or insure over a title
        exception identified by Buyer, the Closing Date shall be postponed for up to thirty (30) calendar days as Seller may deem necessary to remove such title exception.  For the avoidance of doubt, Seller shall remove at Closing all deeds of trust,
        mortgages and bonded indebtedness encumbering the Property, and no such liens shall be deemed Permitted Exceptions hereunder.

    

    

    (g)          Buyer acknowledges and agrees that
        any and all inspections of the Property shall be conducted in a manner not unreasonably disruptive to Tenants or to the operation of the Property.  With respect to meetings with Tenants and subtenants, Seller agrees to permit Buyer to meet with
        Tenants; provided, however, that Buyer must provide Seller with written notice of such proposed meeting (which shall be arranged by Seller) at least two (2) business days prior thereto, and also provided that a representative of Seller, at Seller’s
        election, is available for and is present at such meeting.  Except as expressly set forth above, neither Buyer nor any of the Buyer’s representatives shall contact Tenants or make any inquiries of Tenants.  Seller shall make available to Buyer
        Seller’s employees, representatives, contractors, building engineers, leasing agents and property managers (and their employees) at times and frequencies reasonably sufficient to allow Buyer to conduct its due diligence.  Seller shall have the
        right to have a representative present during any due diligence investigations conducted by Buyer at the Property.  In the event Buyer or any of Buyer’s representatives desire to conduct any physically intrusive due diligence, such as sampling of
        soils, inspection of building materials, roof inspections, drilling wells or the like, Buyer shall identify in writing exactly what procedures such party desires to perform and the identity of the contractor or consultant which will perform such
        work and request Seller’s express prior written consent thereto, which consent may be given or withheld in Seller’s sole and absolute discretion.  Upon receipt of Seller’s written consent, Buyer and/or Buyer’s representatives, as applicable, shall
        perform any and all due diligence at Buyer’s sole cost and expense strictly in compliance with the agreed upon procedures and with any and all laws, ordinances, rules, regulations, permits and licenses applicable to the Property.

     

      

     

      

    
      4

      
        

    

    

    

    ARTICLE 2

      

      

      Purchase Price

    

    

    2.1         Amount and Payment.  The total purchase price for the Property (the “Purchase Price”) shall be Eight Hundred Million Dollars ($800,000,000.00).  At the Closing on the Closing Date, Buyer shall pay the total Purchase Price
        to Seller in cash in immediately available funds, subject to adjustments as provided in Section 8.4.

    

    

    2.2           Deposit.

    

    

    (a)          Within two (2) business days after
        execution of this Agreement, Buyer shall deposit the sum of Twenty Million Dollars ($20,000,000.00) (together with any interest earned thereon, the “Deposit”)
        in cash in immediately available funds in escrow with Chicago Title Company, Attention: Jennifer Lewis, phone: 415-291-5129, e-fax: 415-896-9423 (the “Title Company”). 

        Notwithstanding anything in this Agreement to the contrary, One Hundred Dollars ($100.00) of the Deposit is delivered to the Title Company for delivery by the Title Company to Seller as “Independent Consideration” (herein so called), and the Deposit is reduced by the amount of the Independent Consideration, which amount has been bargained for and agreed to as consideration for Seller’s execution and
        delivery of this Agreement.  The Independent Consideration is in addition to and independent of all other consideration provided for in this Agreement and is non-refundable in all events.  The Deposit shall be held by the Title Company in an
        interest-bearing account designated in writing by Buyer and approved in writing by Seller.  If Seller and Buyer complete the purchase and sale of the Property in accordance with this Agreement, the Deposit shall be applied to payment of the total
        Purchase Price in accordance with Section 2.1 hereof.

    

    

    (b)          For the avoidance of doubt, the
        Deposit shall be nonrefundable to the Buyer in all events other than (1) a termination of this Agreement by Buyer upon a material default by Seller under or a material breach by Seller of this Agreement (including a material breach of a
        representation or warranty by Seller), (2) a termination of this Agreement by Seller pursuant to Section 3.1 or due to the failure of satisfaction of the condition precedent contained in Section 7.1(c), or (3) a termination of this Agreement by
        Buyer pursuant to Section 3.1, Section 6.3 or Section 6.4, or due to the failure of satisfaction of the condition precedent contained in Section 7.2(e).  In each of the foregoing instances, the Deposit (less the Independent Consideration) shall be
        fully refundable and shall be immediately refunded to Purchaser upon termination of this Agreement.  In all other cases, the Deposit shall be delivered to and retained by Seller if this Agreement terminates prior to the occurrence of the Closing
        hereunder.

    

    

    

    

    
      5

      
        

    

    

    

    2.3          Liquidated Damages.  SELLER AND BUYER AGREE THAT, IF THE PURCHASE AND SALE OF THE PROPERTY IS NOT COMPLETED IN ACCORDANCE WITH THIS AGREEMENT BECAUSE BUYER MATERIALLY DEFAULTS UNDER OR MATERIALLY BREACHES THIS AGREEMENT,
        SELLER SHALL BE ENTITLED TO TERMINATE THIS AGREEMENT AND UPON SUCH TERMINATION OR UPON TERMINATION FOR ANY OTHER REASON TO WHICH SELLER IS ENTITLED TO RETAIN THE DEPOSIT IN ACCORDANCE WITH SECTION 2.2, THE DEPOSIT SHALL BE PAID TO SELLER AS
        LIQUIDATED DAMAGES AND AS SELLER’S SOLE REMEDY.  SELLER AND BUYER AGREE THAT, UNDER THE CIRCUMSTANCES EXISTING AS OF THE EFFECTIVE DATE, ACTUAL DAMAGES MAY BE DIFFICULT TO ASCERTAIN AND THE DEPOSIT IS A REASONABLE ESTIMATE OF THE DAMAGES THAT WILL
        BE INCURRED BY SELLER IF BUYER MATERIALLY DEFAULTS UNDER OR MATERIALLY BREACHES THIS AGREEMENT AND FAILS TO PURCHASE THE PROPERTY IN ACCORDANCE WITH THIS AGREEMENT OR IF THE AGREEMENT IS TERMINATED IN ACCORDANCE WITH SECTION 2.2.

     

      

    
      	 	
              SELLER’S INITIALS: 

              

            	JC 

            	 	
              BUYER’S INITIALS: 

              

            	RH 

            	 

       

  

  
     

      

    2.4          Seller Default.  Seller and Buyer agree that, if the purchase and sale of the Property is not completed in accordance with this Agreement because Seller materially defaults under or materially breaches this Agreement in any
        material respect, Buyer shall be entitled, as Buyer’s sole remedy to either (i) terminate this Agreement and upon termination the Deposit (less the Independent Consideration) shall be returned to Buyer, and Buyer shall have the right to seek
        damages for out of pocket costs incurred by Buyer in connection with Buyer’s due diligence investigation under this Agreement, but in no event shall such amount exceed Fifty-Thousand Dollars ($50,000), or (ii) demand and have specific performance
        of this Agreement.  Buyer shall be deemed to have elected to terminate this Agreement and receive back the Deposit (less the Independent Consideration) if Buyer fails to file suit for specific performance against Seller in a court of competent
        jurisdiction, on or before the date which is ten (10) days following the date upon which Closing was to have occurred.  Buyer waives any right to record a lis
          pendens on the Property.

     

      

     

      

    
      6

      
        

    

    

    

    ARTICLE 3

    

    

    Completion of Sale

    

    

    3.1          Place and Date.  The purchase and sale of the Property shall be completed in accordance with Article 8 hereof (the “Closing”).  The Closing shall occur through Escrow No.
        15604125-156-TJK-JM with the Title Company on the date that is ten (10) business days following notice from Seller that the CPUC Approval (as defined below) has been satisfied, but no sooner than August 15, 2021 (the “Closing Date”); provided that if the Closing has not occurred on or before December 31, 2021 (the “Outside Closing Date”) because the CPUC Approval Condition (as defined below) has not been
        satisfied, then this Agreement may be terminated by either Seller or Purchaser by giving written notice of such termination to the other party within thirty (30) days after the Outside Closing Date, in which event Buyer shall be entitled to return
        of the Deposit, and this Agreement and the rights and obligations of the parties hereunder shall terminate as of the date of such notice, except for the obligations that expressly survive termination of this Agreement.  Prior to the Closing Date,
        Seller and Buyer each shall give appropriate written escrow instructions, consistent with this Agreement, to the Title Company for the Closing in accordance with this Agreement and upon giving such instructions such party need not be physically
        present at the Closing.

    

    

    3.2          CPUC Approval.  As used herein “CPUC Approval” shall mean approval by the California Public Utilities Commission (the “CPUC”) of consummation
        of the sale contemplated by this Agreement, which approval shall be in a form that is final, unconditional and unappealable, including exhaustion of all administrative appeals or remedies before the CPUC.  Buyer hereby acknowledges and agrees that
        Seller makes no representation or warranty with respect to the likelihood of, or timing of, CPUC Approval, and Buyer hereby waives all claims against Seller for losses, expenses or damages suffered or incurred by Buyer as a result of the need for
        CPUC Approval, any delay in receipt of CPUC Approval, or the failure to receive the  CPUC Approval prior to the Outside Closing Date; provided that Seller shall in good faith use commercially reasonable, diligent efforts to obtain CPUC Approval and
        keep Buyer apprised as to the status of the CPUC Approval and timing of satisfaction of the CPUC Approval Condition (as defined below) and Closing Date.

    

    

    ARTICLE 4
      

      

      Title and Condition

    

    

    4.1          Title to the Property.  Seller shall convey to Buyer fee title to the Real Property by a duly executed and acknowledged grant deed (the “Deed”) in the form of Exhibit A attached hereto.

    

    

    4.2          Leases.  Seller shall assign Seller’s interest in the Leases to Buyer and Buyer shall assume said Leases, by a duly executed assignment and assumption of leases (the “Assignment of Leases”)

        in the form of Exhibit B attached hereto.

     

      

     

      

    
      7

      
        

    

    

    

    4.3          Personal Property.  Seller shall transfer all of Seller’s title to the Personal Property to Buyer, by a duly executed Bill of Sale (the “Bill of Sale”) in the form of Exhibit C attached hereto without warranty or covenant.

     

      

    4.4          Contracts and Permits.  Seller shall assign all of Seller’s interest in the Contracts and all of Seller’s interest in the Permits to Buyer and Buyer shall assume the Contracts and Permits, by a duly executed Assignment and
        Assumption of Contracts (the “Assignment of Contracts”) in the form of Exhibit D attached hereto.

    

    

    4.5          Acceptance of Title.  Buyer’s acceptance of the Deed from Seller for the Real Property at the Closing on the Closing Date and the issuance of the Title Policy (defined below) or a marked-up commitment to Buyer by the Title
        Company on the Closing Date shall conclusively establish that Seller conveyed the Property to Buyer as required by this Agreement and shall discharge in full Seller’s obligations under Section 4.1
        hereof with respect to title to the Real Property.

    

    

    4.6          “AS IS” Sale.

    

    

    (a)          Prior to the Closing:

    

    

    (i)          Buyer shall conduct, at Buyer’s sole
        expense, all such inspections, investigations, tests, analyses, appraisals and evaluations of the Property (including for Hazardous Materials, as defined below) as Buyer considers necessary or appropriate (all of such inspections, investigations
        and reports being herein collectively called the “Investigations”).

    

    

    (ii)          Seller shall make available to
        Buyer, and otherwise allow Buyer access to, the Diligence Documents pursuant to Section 1.2 hereof.

    

    

    (b)          Buyer represents to Seller that it is
        experienced in the acquisition of real property similar to the Real Property and that Buyer recognizes the risks of acquiring and owning the Property and that an allocation of risk is intended by this Agreement.

    

    

    (c)          Prior to Closing Buyer shall review,
        examine, evaluate and verify all Diligence Documents and the results of the Investigations to the extent it deems necessary or appropriate with the assistance of such experts, at Buyer’s sole expense, as Buyer deems appropriate and:

    

    

    (i)          shall be familiar with the physical
        condition of the Property;

    

    

    (ii)          shall have completed its due
        diligence with respect to the Property and the Diligence Documents to its satisfaction;

    

    

    (iii)          shall be acquiring the Property
        based exclusively upon its own investigations and inspections of the Property and the Diligence Documents; and

    

    

    (iv)          shall be represented, at Buyer’s
        sole expense, by advisors and consultants (including legal counsel) of its choice in the transaction contemplated by this Agreement.

     

      

     

      

    
      8

      
        

    

    

    

    (d)          THE PROPERTY IS BEING SOLD, AND BUYER
        IS ACCEPTING POSSESSION OF THE PROPERTY ON THE CLOSING DATE, “AS IS, WHERE IS, WITH ALL FAULTS,” WITH NO RIGHT OF SETOFF OR REDUCTION IN THE PURCHASE PRICE EXCEPT FOR SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS AGREEMENT THAT
        EXPRESSLY SURVIVE THE CLOSING AND INSTRUMENTS EXECUTED BY SELLER AT CLOSING (THE “SELLER’S WARRANTIES”).  EXCEPT FOR SELLER’S WARRANTIES, NEITHER SELLER, NOR
        ANY SELLER PARTIES OR ANY OTHER PARTY RELATED IN ANY WAY TO ANY OF THE FOREGOING, HAVE OR SHALL BE DEEMED TO HAVE MADE ANY VERBAL OR WRITTEN REPRESENTATIONS, WARRANTIES, PROMISES OR GUARANTEES (WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE) TO
        BUYER WITH RESPECT TO THE PROPERTY, ANY MATTER SET FORTH, CONTAINED OR ADDRESSED IN THE DILIGENCE DOCUMENTS (INCLUDING, BUT NOT LIMITED TO, THE ACCURACY AND COMPLETENESS THEREOF) OR THE RESULTS OF THE INVESTIGATIONS.

     

      

    (e)          BUYER FURTHER AGREES AND ACKNOWLEDGES
        THAT, IN PURCHASING THE PROPERTY, BUYER SHALL RELY ENTIRELY ON ITS OWN INVESTIGATION, EXAMINATION AND INSPECTION OF THE PROPERTY AND ITS ANALYSIS AND EVALUATION OF THE PROPERTY DOCUMENTS FURNISHED BY SELLER TO BUYER AND NOT UPON ANY REPRESENTATION
        OR WARRANTY OF SELLER, OR ANY AGENT OR REPRESENTATIVE OF SELLER, THAT IS NOT SET FORTH IN THIS AGREEMENT.  AT CLOSING, BUYER SHALL HAVE HAD THE OPPORTUNITY TO CONDUCT
          TESTING AND INSPECTIONS TO CONFIRM INDEPENDENTLY ALL INFORMATION THAT BUYER CONSIDERS MATERIAL TO ITS PURCHASE OF THE PROPERTY OR THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT.  EXCEPT FOR SELLER’S WARRANTIES, BUYER IS NOT RELYING ON (AND SELLER AND EACH OF THE SELLER PARTIES DOES HEREBY DISCLAIM
          AND RENOUNCE) ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE WHATSOEVER, WHETHER ORAL OR WRITTEN, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, FROM SELLER OR THE SELLER PARTIES, AS TO:  (i) THE OPERATION OF THE PROPERTY OR THE INCOME
          POTENTIAL, USES, OR MERCHANTABILITY OR FITNESS OF ANY PORTION OF THE PROPERTY FOR A PARTICULAR PURPOSE; (ii) THE PHYSICAL CONDITION WHETHER VISIBLE OR NOT, OF THE PROPERTY OR THE CONDITION OR SAFETY OF THE PROPERTY OR ANY IMPROVEMENTS THEREON,
          INCLUDING, BUT NOT LIMITED TO, PLUMBING, SEWER, HEATING, VENTILATING AND AIR CONDITIONING, LIFE SAFETY, BUILDING MANAGEMENT, VERTICAL TRANSPORTATION, AND ELECTRICAL SYSTEMS, ROOFING, FOUNDATIONS, SOILS AND GEOLOGY, INCLUDING HAZARDOUS MATERIALS,
          LOT SIZE, OR SUITABILITY OF THE PROPERTY OR ANY IMPROVEMENTS THEREON FOR A PARTICULAR PURPOSE; (iii) THE PRESENCE OR ABSENCE, LOCATION OR SCOPE OF ANY HAZARDOUS MATERIALS IN, AT, OR UNDER THE PROPERTY; (iv) WHETHER THE APPLIANCES, IF ANY,
          PLUMBING OR UTILITIES ARE IN WORKING ORDER; (v) THE HABITABILITY OR SUITABILITY FOR OCCUPANCY OF ANY STRUCTURE AND THE QUALITY OF ITS CONSTRUCTION; (vi) WHETHER THE IMPROVEMENTS ARE STRUCTURALLY SOUND, IN GOOD CONDITION, OR IN COMPLIANCE WITH
          APPLICABLE MUNICIPAL, COUNTY, STATE OR FEDERAL STATUTES, CODES OR ORDINANCES; (vii) THE ACCURACY OF ANY STATEMENTS, CALCULATIONS OR CONDITIONS STATED OR SET FORTH IN SELLER’S BOOKS AND RECORDS CONCERNING THE PROPERTY OR SET FORTH IN THE DILIGENCE
          DOCUMENTS OR ANY OF SELLER’S OFFERING MATERIALS WITH RESPECT TO THE PROPERTY; (viii) THE DIMENSIONS OF THE PROPERTY OR THE ACCURACY OF ANY FLOOR PLANS, SQUARE FOOTAGE, LEASE ABSTRACTS, SKETCHES, REVENUE OR EXPENSE PROJECTIONS RELATED TO THE
          PROPERTY; (ix) THE OPERATING PERFORMANCE, THE INCOME AND EXPENSES OF THE PROPERTY OR THE ECONOMIC STATUS OF THE PROPERTY; (x) THE ABILITY OF BUYER TO OBTAIN ANY AND ALL NECESSARY GOVERNMENTAL APPROVALS OR PERMITS FOR BUYER’S INTENDED USE AND
          DEVELOPMENT OF THE PROPERTY; (xi) THE LEASING STATUS OF THE PROPERTY OR THE INTENTIONS OF ANY PARTIES WITH RESPECT TO THE NEGOTIATION AND/OR EXECUTION OF ANY LEASE FOR ANY PORTION OF THE PROPERTY; AND (xii) SELLER’S OWNERSHIP OF ANY PORTION OF
          THE PROPERTY.

     

        

     

        

    
      9

      
        

    

    

    

    (f)          EXCEPT TO THE EXTENT SET FORTH IN THE
        SELLER’S WARRANTIES, NEITHER SELLER NOR ANY SELLER PARTY IS UNDER ANY DUTY (AND BUYER HEREBY RENOUNCES ANY DUTY OF SELLER OR ANY SELLER PARTY) TO MAKE ANY AFFIRMATIVE DISCLOSURES OR INQUIRY REGARDING ANY MATTER RELATING TO THE PROPERTY THAT MAY OR
        MAY NOT BE KNOWN TO SELLER OR ANY SELLER PARTY.

    

    

    (g)          BUYER, FOR BUYER AND BUYER’S
        SUCCESSORS AND ASSIGNS, HEREBY RELEASES SELLER AND SELLER PARTIES, AND THEIR SUCCESSORS AND ASSIGNS FROM, AND WAIVES ALL CLAIMS AND LIABILITY, INCLUDING ENVIRONMENTAL LIABILITY (DEFINED BELOW), AGAINST SELLER AND SELLER PARTIES, AND THEIR
        SUCCESSORS AND ASSIGNS FOR OR ATTRIBUTABLE TO THE FOLLOWING:

    

    

    (i)          ANY AND ALL STATEMENTS OR OPINIONS
        HERETOFORE OR HEREAFTER MADE, OR INFORMATION FURNISHED, BY THEM TO BUYER OR ITS AGENTS OR REPRESENTATIVES RELATING TO THE PROPERTY, EXCEPT FOR SELLER’S WARRANTIES; AND

     

      

    (ii)          ANY STRUCTURAL, PHYSICAL OR
        ENVIRONMENTAL CONDITION AT THE PROPERTY, INCLUDING, CLAIMS OR LIABILITIES RELATING TO THE PRESENCE, DISCOVERY OR REMOVAL OF ANY HAZARDOUS MATERIALS IN, AT, ABOUT OR UNDER THE PROPERTY, OR FOR, CONNECTED WITH OR ARISING OUT OF ANY AND ALL CLAIMS OR
        CAUSES OF ACTION BASED UPON ENVIRONMENTAL LAW (DEFINED BELOW).

    

    

    (h)          In connection with this Section 4.6, Buyer expressly waives the benefits of Section 1542 of the California Civil Code, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH
        THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.” 
        BUYER ACKNOWLEDGES AND AGREES THAT IT HAS BEEN REPRESENTED BY LEGAL COUNSEL OF ITS CHOICE IN CONNECTION WITH THIS AGREEMENT, AND THAT SUCH COUNSEL HAS EXPLAINED TO BUYER THE PROVISIONS OF THIS SECTION 4.6.

     

    
      

      

      
        
          
            	 	
                    SELLER’S INITIALS: 

                    

                  	JC 

                  	 	
                    BUYER’S INITIALS: 

                    

                  	RH 

                  	 

             

          
            (i)          This Section 4.6 shall survive the Closing.

             

              

             

        

      

    

    
      10

      
        

    

    

    

    4.7          Environmental Definitions.  As used herein “Environmental Law” means any international, federal, state, local or foreign statute, law, ordinance, regulation, rule, code, order,
        consent decree or judgment, in each case in existence as of the Closing Date, relating to or regulating human health or safety, or industrial hygiene or environmental conditions or protection of the environment, or pollution or contamination of the
        air, soil, surface water or groundwater, and includes the Comprehensive Environmental Response Compensation and Liability Act of 1980, the Resource Conservation and Recovery Act of 1976, the Toxic Substances Control Act, the Federal Water Pollution
        Control Act, the Safe Drinking Water Act, the Hazardous Materials Transportation Act, the Oil Pollution Act of 1990 and any state laws implementing the foregoing federal laws.  As used herein “Environmental
          Liability” means any claim, demand, order, suit, obligation, liability, cost (including, the cost of any investigation, testing, compliance or remedial action), consequential damages, loss or expense (including attorneys’ and consultants’
        fees and expenses) arising out of, relating to or resulting from any Environmental Law or environmental, health or safety matter or condition, including natural resources, and related in any way to the Property or to this Agreement or its subject
        matter, in each case, whether arising or incurred before, on or after the Closing Date.  As used herein “Hazardous Materials” means (i) any petroleum, petroleum products, by-products or breakdown products,
        radioactive materials, asbestos-containing materials or polychlorinated biphenyls, (ii) any chemical, material or substance defined or regulated as toxic or hazardous or as a pollutant, contaminant or waste under any Environmental Law or any Mold
        or Mold Condition.  As used herein “Release” means any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping or disposing into the environment, including
        continuing migration, of Hazardous Materials into or through soil, surface water or groundwater.  As used herein “Mold” means mold, mildew, fungus or other potentially dangerous organisms.  As used herein “Mold Condition” means the presence of Mold or any condition(s) that reasonably can be expected to indicate the presence of Mold, including observed discoloration of walls, ceilings or floors, complaints received
        within the last six (6) months of respiratory ailment or eye irritation by tenants, employees or any other occupants or invitees in the Property or any notice from a governmental agency of complaints regarding the indoor air quality at the
        Property.

    

    

    ARTICLE 5

      

      

      Representations and Warranties

    

    

    5.1          Seller.  The representations and warranties of Seller in this Section 5.1 and in Seller’s Closing Certificate (defined below) are a material
        inducement for Buyer to enter into this Agreement.  Such representations and warranties shall survive the Closing for only six (6) months after the Closing
        Date (the “Survival Period”), at which time such representations and warranties shall terminate.  Except as disclosed on Schedule 6
        attached hereto, Seller represents and warrants to Buyer as of the Effective Date as set forth below in this Section 5.1.

     

      

     

      

    
      11

      
        

    

    

    

    (a)          Seller is a corporation duly formed,
        validly existing and in good standing under the laws of the State of California.  Subject to CPUC Approval, Seller has full power and authority to enter into this Agreement and to perform this Agreement.  Except for CPUC Approval, the execution,
        delivery and performance of this Agreement by Seller have been duly and validly authorized by all necessary action on the part of Seller, and all required consents or approvals have been duly obtained.  Subject to CPUC Approval, this Agreement is a
        legal, valid and binding obligation of Seller, enforceable against Seller in accordance with its terms, subject to the effect of applicable bankruptcy, insolvency, reorganization, arrangement, moratorium or other similar laws affecting the rights
        of creditors generally.

    

    

    (b)          The Leases are accurately described
        on Schedule 2 attached hereto.  The Leases have not been amended or modified by Seller except as shown on Schedule 2. 

        The copies of the Leases provided to, or made available to, Buyer are true, complete and correct copies (including all amendments, addenda and other agreements relating to the Leases).  On or before the Effective Date, Seller shall have delivered
        to Buyer true, correct and complete copies of the Leases listed on Schedule 2, including all amendments thereto.

    

    

    (c)          To Seller’s knowledge, Seller has
        received no written notice that there is any litigation, arbitration or other legal or administrative suit, action or proceeding pending or threaten against Seller relating to the Real Property or any part thereof which would materially affect the
        Real Property.  For purposes of this representation, any lawsuit resulting in or expected to result in damages in excess of $50,000 in the aggregate shall be deemed to be material.

    

    

    (d)          Seller is not a “foreign person” as
        defined in Section 1445 of the Internal Revenue Code of 1986, as amended, and the Income Tax Regulations thereunder.

    

    

    (e)          Seller is not now (nor shall be at
        any time prior to or at the Closing be) a Person with whom a U.S. Person is prohibited from transacting business of the type contemplated by this Agreement, whether such prohibition arises under anti-money laundering laws and regulations (“AML Laws”) or other relevant United States law, regulation and executive orders, including lists published by the Office of Foreign Assets Control (“OFAC”) (including those executive orders and lists published by OFAC with respect to persons that have been designated by executive order or by the sanction
        regulations of OFAC as persons with whom U.S. Persons may not transact business or must limit their interactions to types approved by OFAC or otherwise) or under United Nations, Organization for Economic Co-operation and Development (“OEDC”) or other laws, regulations, executive orders or guidelines similar to AML Laws.  Seller is not a Person with which a U.S. Person, including a United States
        Financial Institution as defined in 31 U.S.C. §5312, as amended, is prohibited from transacting business of the type contemplated by this Agreement under any applicable AML Law.  Seller has not been convicted of any criminal violation of any AML
        Law.  Seller is in compliance with the Patriot Act as applicable to Seller.

    

    

    (f)          Except for CBRE, Inc., a Delaware
        corporation (“Broker”), Seller has not dealt with any real estate broker or finder in connection with the sale of the Property to Buyer or this Agreement.

     

      

     

      

    
      12

      
        

    

    

    

    (g)          As used herein, “to Seller’s
        knowledge,” “to the knowledge of Seller” and similar phrases shall mean to the current actual knowledge of Thomas Crowley, Corporate Real Estate Strategy & Services Business Partner Chief, only, without any duty of independent investigation or
        inquiry, and without personal liability therefor, and such term shall not include the knowledge of any other person or firm.  Actual knowledge shall not be deemed to exist merely by assertion by Buyer of a claim that any of the foregoing persons
        should have known of such facts or circumstances, if such person did not have actual knowledge of such facts and circumstances.

    

    

    5.2          Buyer.  The representations and warranties of Buyer in this Section 5.2 and in Buyer’s Closing Certificate (defined below) are a material
        inducement for Seller to enter into this Agreement.  Seller would not sell the Property to Buyer without such representations and warranties of Buyer.  Such representations and warranties shall survive the Closing for the Survival Period, at which
        time such representations and warranties shall terminate.  Buyer represents and warrants to Seller as of the Effective Date as set forth below in this Section 5.2.

    

    

    (a)          Buyer is a limited liability company
        duly organized and validly existing and in good standing under the laws of the State of Delaware.  Buyer is duly qualified to do business and is in good standing

        in the State of California.  Buyer has full power and authority to enter into this Agreement and to perform this Agreement.  The execution, delivery and performance of
          this Agreement by Buyer have been duly and validly authorized by all necessary action on the part of Buyer and all required consents or approvals have been duly obtained or will be obtained.  This Agreement is a legal, valid and binding
          obligation of Buyer, enforceable against Buyer in accordance with its terms, subject to the effect of applicable bankruptcy, insolvency, reorganization, arrangement, moratorium or other similar laws affecting the rights of creditors generally.

    

    

    (b)          Neither Buyer nor, to Buyer’s
        knowledge, any of Buyer’s direct sources of funding is now (or shall be at any time prior to or at the Closing be) a Person with whom a U.S. Person is prohibited from transacting business of the type contemplated by this Agreement, whether such
        prohibition arises under AML Laws or other relevant United States law, regulation and executive orders, including lists published by OFAC (including those executive orders and lists published by OFAC with respect to persons that have been
        designated by executive order or by the sanction regulations of OFAC as persons with whom U.S. Persons may not transact business or must limit their interactions to types approved by OFAC or otherwise) or under United Nations, OEDC or other laws,
        regulations, executive orders or guidelines similar to AML Laws.  Buyer has taken such measures as are required of Buyer under AML Laws to ascertain that the funds being invested by Buyer in the Property under this Agreement are derived from
        permissible sources.  Neither Buyer nor, to Buyer’s knowledge, any of Buyer’s direct sources of funding is a Person with which a U.S. Person, including a United States Financial Institution as defined in 31 U.S.C. §5312, as amended is prohibited
        from transacting business of the type contemplated by this Agreement under any applicable AML Law.  Neither Buyer nor, to Buyer’s knowledge, any of Buyer’s direct sources of funding has been convicted of any criminal violation of any AML Law. 
        Buyer and, to Buyer’s knowledge, its direct sources of funding are in compliance with the Patriot Act as applicable to Buyer and its direct sources of funding.

    

    

    (c)          Except for Broker, Buyer has not
        dealt with any real estate broker or finder in connection with the purchase of the Property from Seller or this Agreement.

     

      

     

      

    
      13

      
        

    

    

    

    (d)          The amounts payable by Buyer to
        Seller hereunder are not and were not, directly or indirectly, derived from activities in contravention of federal, state, or international laws and regulations (including, without limitation, AML Laws).  None of (A) Buyer; (B) any person
        controlling or controlled by Buyer, directly or indirectly, including but not limited to any person or persons owning, in the aggregate, a fifty percent (50%) or greater direct or indirect ownership interest in Buyer; or (C) any person, if Buyer is
        a privately-held entity, having a beneficial interest in Buyer is:  (1) a country, territory, government, or person subject to sanctions under any Executive Order issued by the President of the United States or any regulation administered by OFAC
        of the United States Department of the Treasury; (2) a Foreign Terrorist Organization designated by the United States Department of State; or (3) a person who Buyer knows, or reasonably should know, has engaged in or engages in terrorist activity,
        or has provided or provides material support for terrorist activities or terrorist organizations, as prohibited by U.S. law, including but not limited to the Patriot Act.

    

    

    ARTICLE 6

     

      

    Covenants

    

    

    6.1          Seller.  Seller covenants and agrees with Buyer as follows:

    

    

    (a)          Between the Effective Date and the
        Closing Date, Seller shall not execute any additional lease or any contract affecting the Real Property or amend, modify, renew, extend or terminate any of the Leases, the Contracts or the Permits in any material respect without the prior approval
        of Buyer, which approval shall not be unreasonably withheld; provided, however, that Seller will not be obligated to obtain Buyer’s written approval if Seller is contractually obligated to take such action under the terms of any such Lease,
        Contract or Permit, and Seller may enter into new contracts without Buyer’s consent if such contract is both (i) necessary as a result of an emergency at the Property and (ii) terminable upon not more than thirty (30) calendar days’ notice without
        penalty.  Between the Effective Date and the Closing Date, Seller shall manage, operate, maintain and repair the Real Property and the Personal Property in the ordinary course of business in accordance with sound property management practice, keep
        the Real Property and the Personal Property in good repair and working order and sound condition, promptly give Buyer copies of written notices received by Seller asserting any material breach or default under the Leases or the Contracts or any
        material violation of the Permits or any covenants, conditions, restrictions, laws, statutes, rules, regulations or ordinances applicable to the Real Property or the Personal Property, and perform when due Seller’s obligations under the Leases, the
        Contracts and the Permits in accordance with the Leases, the Contracts and the Permits and all applicable laws

    

    

    (b)          Seller shall indemnify and defend
        Buyer against and hold Buyer harmless from all claims, demands, liabilities, losses, damages, costs and expenses, including reasonable attorneys’ fees and disbursements, that may be suffered or incurred by Buyer if any representation or warranty
        made by Seller in Section 5.1 hereof or in Seller’s Closing Certificate was untrue or incorrect in any material respect when made or that may be caused by any breach by
        Seller of any such representation or warranty.  Notwithstanding the foregoing, Buyer shall not have the right to enforce any claim, nor shall Seller be liable in any way to Buyer, for a breach of a representation or warranty of Seller if the breach
        in question results from or is based on a condition, state of facts or other matter of which Buyer had knowledge prior to the Closing.  Furthermore, Seller shall have no liability to Buyer for a breach of any representation or warranty made by
        Seller under Section 5.1 hereof or in Seller’s Closing Certificate unless written notice containing a description of the specific nature of such breach has been given by
        Buyer to Seller, and Buyer shall have commenced an action against Seller with respect to such breach prior to the date that is thirty (30) calendar days after the expiration of the Survival Period.  Furthermore, no claim for breach of any
        representation or warranty of Seller shall be actionable or payable unless (i) Buyer has first notified Seller in writing of any such claim and afforded Seller a fifteen (15) calendar day period during which Seller shall have the right to cure any
        such alleged breach of any representation or warranty, or other obligation or liability, and (ii) the valid claims for all such breaches collectively aggregate more than Five Hundred Thousand Dollars ($500,000), in which event the full amount of
        such claims shall be actionable.  In no event shall the aggregate liability of Seller to Buyer by reason of a breach of one or more of Seller’s representations exceed the sum of Five Million Dollars ($5,000,000).  In no event shall Seller be liable
        for any indirect or consequential damages on account of Seller’s breach of any covenant, representation or warranty, or other obligation or liability contained in this Agreement or any certificate, assignment or other document delivered in
        connection with this Agreement.

     

      

     

      

    
      14

      
        

    

    

    

    (c)          Seller shall use commercially
        reasonable efforts to obtain and deliver to Buyer prior to the Closing Date a “Tenant Estoppel Certificate” in substantially the form attached hereto as Exhibit I (or as otherwise provided for in the respective Lease) executed by each tenant under a Lease.

    

    

    (d)          If the purchase and sale of the
        Property is completed in accordance with this Agreement, Seller shall pay the commission due Broker in accordance with the separate written agreement between Seller and Broker.

    

    

    6.2          Buyer.  Buyer covenants and agrees with Seller as follows:

    

    

    (a)          Buyer shall indemnify and defend
        Seller against and hold Seller harmless from all claims, demands, liabilities, losses, damages, costs and expenses, including reasonable attorneys’ fees and disbursements, that may be suffered or incurred by Seller if any representation or warranty
        made by Buyer in Section 5.2 hereof or in Buyer’s Closing Certificate was untrue or incorrect in any respect when made or that may be caused by any breach by Buyer of any
        such representation or warranty.

    

    

    (b)          Except for liabilities retained or
        incurred by Seller hereunder, from and after the Closing, Buyer shall indemnify, defend and hold harmless Seller and its affiliates and their respective officers, directors, employees and agents from and against all claims, demands, liabilities,
        losses, damages, costs and expenses, including, without limitation, reasonable attorneys’ fees and disbursements, first arising or accruing after the Closing based upon, arising out of, in connection with or relating to the Property, including,
        without limitation, any such that are caused by any failure by Buyer to perform its obligations as the landlord under the Leases or as the Property owner under the Contracts.

    

    

    6.3          Casualty Damage.  If, before the Closing Date, the Improvements on the Property are damaged by any casualty and the cost to restore such improvements, as reasonably determined by Seller, is more than Twenty-Five Million
        Dollars ($25,000,000), Buyer shall have the right, by giving notice to Seller within ten (10) business days after Seller gives notice of the occurrence of such casualty to Buyer, to terminate this Agreement, in which event this Agreement shall
        terminate.  If, before the Closing Date, the Improvements on the Property are damaged by any wholly or partially uninsured casualty and the cost to restore such improvements, as reasonably determined by Seller, is Twenty-Five Million Dollars
        ($25,000,000) or less, Buyer shall have the right to terminate provided that Seller may void such termination by agreeing to provide a credit to Buyer in the amount of the cost to restore.  If, before the Closing Date, the Improvements on the
        Property are damaged and Buyer does not have the right to terminate this Agreement, or Buyer has the right to terminate this Agreement pursuant to this Section but Buyer does not exercise such right, then this Agreement shall remain in full force
        and effect and, on the Closing Date, any insurance proceeds (or, if not theretofore received, the right to receive such proceeds) payable to Seller on account of the damage shall be transferred to Buyer and the amount of any deductible under
        Seller’s insurance policy to the extent of the restoration cost as reasonably determined by Seller shall be a credit to Buyer against the total Purchase Price.  Seller shall give notice to Buyer reasonably promptly after the occurrence of any
        damage to the Improvements on the Property by any casualty.  If necessary, the Closing Date shall be postponed until Seller has given any notice to Buyer required by this Section 6.3
        and the period of ten (10) business days described in this Section 6.3 has expired, and the restoration cost has been determined by Seller.  Nothing in this Section 6.3 shall be deemed to constitute an obligation on the part of Seller to carry or maintain any insurance of any kind whatsoever pertaining to the Property.

    

    

    

    

    
      15

      
        

    

    

    

    6.4          Eminent Domain.  If, before the Closing Date, proceedings are commenced for the taking by exercise of the power of eminent domain of all or a material part of the Property which, as reasonably determined by Buyer, would
        render the Property unsuitable for Buyer’s intended use, Buyer shall have the right, by giving notice to Seller within ten (10) business days after Seller gives notice of the commencement of such proceedings to Buyer, to terminate this Agreement,
        in which event this Agreement shall terminate.  If, before the Closing Date, proceedings are commenced for the taking by exercise of the power of eminent domain of less than such a material part of the Property, or if Buyer has the right to
        terminate this Agreement pursuant to the preceding sentence but Buyer does not exercise such right, then this Agreement shall remain in full force and effect and, on the Closing Date, the condemnation award (or, if not theretofore received, the
        right to receive such award) payable to Seller on account of the taking shall be transferred to Buyer.  Seller shall give notice to Buyer reasonably promptly after Seller’s receiving notice of the commencement of any proceedings for the taking by
        exercise of the power of eminent domain of all or any part of the Property.  If necessary, the Closing Date shall be postponed until Seller has given any notice to Buyer required by this Section 6.4 and the period of ten (10) business days described in this Section 6.4 has expired.  For purposes of this Section 6.4, a “material
        part of the Property” shall mean a part of the Property that would result in a decrease of the value of the Property by Twenty-Five Million Dollars ($25,000,000).  Nothing in this Section 6.4
        shall be deemed to constitute an obligation on the part of Seller to carry or maintain any insurance of any kind whatsoever pertaining to the Property.

     

      

     

      

    
      16

      
        

    

    

    

    ARTICLE 7
      

      

      Conditions Precedent

    

    

    

    7.1          Seller.  The obligations of Seller under this Agreement are subject to the satisfaction of all of the conditions set forth in this Section 7.1.  Seller may waive any or all of such conditions in whole or in part but any such waiver shall be effective only if made in writing.  After the Closing, any such
        condition that has not been satisfied shall be treated as having been waived in writing.  No such waiver shall constitute a waiver by Seller of any of its rights or remedies if Buyer defaults in the performance of any covenant or agreement to be
        performed by Buyer under this Agreement or if Buyer breaches any representation or warranty made by Buyer in Section 5.2 hereof or in Buyer’s Closing Certificate.  If any
        condition set forth in this Section 7.1 is not fully satisfied or waived in writing by Seller, this Agreement shall terminate, and, in such event, the Deposit shall be
        paid to Seller if and to the extent Seller is entitled to receive the Deposit pursuant to Section 2.3
        hereof (and otherwise the Deposit shall be immediately returned to Buyer), and thereafter, the parties shall have no further rights or obligations hereunder except for obligations that expressly survive the termination of this Agreement, but
        without releasing Buyer from liability if Buyer defaults in the performance of any such covenant or agreement to be performed by Buyer or if Buyer breaches any such representation or warranty made by Buyer before such termination.

    

    

    (a)          On the Closing Date, Buyer shall have
        performed all covenants required of Buyer under this Agreement in all material respects.

    

    

    (b)          On the Closing Date, all
        representations and warranties made by Buyer in Section 5.2 hereof shall be true and correct in all material respects as if made on and as of the Closing Date and Seller
        shall have received a Buyer’s Closing Certificate (“Buyer’s Closing Certificate”) in the form of Exhibit F attached hereto, certifying to Seller that all of Buyer’s representations and warranties are true and correct in all material respects on and as of the Closing Date.

     

      

    (c)          On the Closing Date,
        there shall be no judicial or administrative order against Seller’s consummation of the transactions contemplated herein to be consummated as of the Closing Date as a result of any suit or action instituted by any person unaffiliated with, and not
        acting on behalf of, Seller or any of Seller’s affiliates.

    

    

    (d)          Satisfaction of the CPUC Approval
        Condition.

    

    

    (e)          On the Closing Date, Buyer shall have
        executed and delivered to Seller the PG&E Lease, the Utility Access Agreement, and counterparts of any ancillary agreement thereto to which Buyer is to become a party and shall have provided all deliverables and performed all obligations
        required to be provided or performed by Buyer prior to or at the Closing under the PG&E Lease.

    

    

    7.2          Buyer.  The obligations of Buyer under this Agreement are subject to satisfaction of all of the conditions set forth in this Section 7.2.  Buyer
        may waive any or all of such conditions in whole or in part but any such waiver shall be effective only if made in writing.  After the Closing, any such condition that has not been satisfied shall be treated as having been waived in writing.  No
        such waiver shall constitute a waiver by Buyer of any of its rights or remedies if Seller defaults in the performance of any covenant or agreement to be performed by Seller under this Agreement or if Seller breaches any representation or warranty
        made by Seller in Section 5.1 hereof or in Seller’s Closing Certificate.  If any condition set forth in this Section 7.2 is not fully satisfied or waived in writing by Buyer, this Agreement shall terminate, but without releasing Seller from liability if Seller defaults in the performance of any such covenant or agreement to be
        performed by Seller or if Seller breaches any such representation or warranty made by Seller before such termination.

     

      

     

      

    
      17

      
        

    

    

    

    (a)          On the Closing Date, Seller shall
        have performed all covenants required of Seller under this Agreement in all material respects.

    

    

    (b)          On the Closing Date, all
        representations and warranties made by Seller in Section 5.1 hereof shall be true and correct in all material respects as if made on and as of the Closing Date and Buyer
        shall have received a Seller’s closing certificate (“Seller’s Closing Certificate”) in the form of Exhibit E attached hereto, certifying to Buyer that all of Seller’s representations and warranties are true and correct in all material respects on and as of the Closing Date; provided that if there are any material adverse
        exceptions, Seller shall have the right, but not the obligation, upon written notice to Buyer, to postpone the Closing Date for up to seven (7) calendar days and to take any action available to Seller that Seller deems appropriate to allow Seller
        to deliver Seller’s Closing Certificate at the Closing (as so postponed).  If requested, Buyer shall cooperate in good faith with Seller in connection therewith.

    

    

    (c)          On the Closing Date,
        there shall be no judicial or administrative order against Buyer’s consummation of the transactions contemplated herein to be consummated as of the Closing Date as a result of any suit or action instituted by any person unaffiliated with, and not
        acting on behalf of, Buyer or any of Buyer’s affiliates.

    

    

    (d)          Satisfaction of the CPUC Approval
        Condition.

    

    

    (e)          On the Closing Date, the Title
        Company shall be prepared to issue to Buyer an extended coverage owner’s policy of title insurance (2006 form), with liability equal to the total Purchase Price,
        insuring Buyer that fee title to the Property is vested in Buyer subject only to the Permitted Exceptions and the usual preprinted exceptions in an extended coverage policy, containing such endorsements as Seller may commit to provide pursuant to Section 1.2(f), and with reinsurance or co-insurance in an amount equal to fifty percent (50%) of the Purchase Price (the “Title Policy”).

    

    

    As used herein, the “CPUC Approval Condition” shall mean
      receipt of CPUC Approval in a form acceptable to Seller in its sole and absolute discretion, including approval of the proposed accounting and ratemaking treatment of the sale.  Notwithstanding anything to the contrary in Section 7.1 or Section 7.2,
      the CPUC Approval Condition may not be waived by either party.

     

    

     

    

    
      18

      
        

    

    

    

    ARTICLE 8

     

      

    Closing

    

    

    8.1          Procedure.  Seller and Buyer shall cause the following to occur at the Closing on the Closing Date:

    

    

    (a)          The Title Company shall be
        unconditionally prepared to record in the Office of the San Francisco County Recorder in the State of California:  (i) the Deed for the Real Property, duly executed and acknowledged by Seller, and (ii) the Transformer Room Agreement covering
        portions of the Property (the “Utility Access Agreement”) in the form of Exhibit J attached

        hereto, duly executed and acknowledged by Buyer and Seller.

    

    

    (b)          Seller shall date as of the Closing
        Date, execute and deliver to Buyer:  (i) the Assignment of Leases; (ii) the Bill of Sale; (iii) the Assignment of Contracts; (iv) a Certificate of Non-Foreign Status in the form of Exhibit G
        attached hereto; (v) Seller’s Closing Certificate; (vi) the lease agreement for portions of the Property (the “PG&E Lease”) in the form of Exhibit H attached hereto, and (vii) such other documents
        as are reasonably necessary to effectuate the sale of the Property to Buyer (including any state, county or city transfer tax declarations).

    

    

    (c)          Buyer shall date as of the Closing
        Date, execute and deliver to Seller:  (i) the Assignment of Leases; (ii) the Assignment of Contracts; (iii) Buyer’s Closing Certificate; (iv) the PG&E Lease; and (v) such other documents as are reasonably necessary to effectuate the sale of the
        Property to Buyer (including any state, county or city transfer tax declarations).

    

    

    (d)          Buyer shall pay to Seller the Purchase Price in cash in immediately available funds in accordance with Section 2.1 hereof; provided, however, Buyer shall deliver such funds to the Title
        Company no later than one (1) business day prior to the Closing Date.

    

    

    8.2          Possession.  Subject to the PG&E Lease and the Leases, Seller shall transfer possession of the Property to Buyer on the Closing Date.  Seller shall, on the Closing Date, deliver to Buyer the Leases, Contracts, Permits
        and any other plans and specifications, certificates, licenses and approvals relating to the Property in the possession of Seller, which shall become the property of Buyer on the Closing Date.  On the Closing Date, Seller shall send letters to the
        Tenants notifying them that the Property has been sold to Buyer and directing them to pay future rent and other charges to Buyer at the address to be furnished by Buyer.

    

    

    8.3          Closing Costs.  Seller shall pay (i) one-half of any escrow fees, and (ii) for any city and county transfer taxes arising from the transaction contemplated hereby.  Buyer shall pay (i) the cost of recording the Deed,
        (ii) the cost of the premium for the Title Policy, including any upgrades, endorsements, coinsurance and reinsurance to the Title Policy, including the cost of extended coverage over general exceptions, (iii) one-half of any escrow fees, and
        (iv) the cost of any updates to the Survey.  Any other closing costs shall be paid in accordance with local custom.

    

    

    8.4          Prorations.  Prior to the Closing, Seller shall provide to Buyer a draft proration schedule and information and verification reasonably necessary to support such prorations schedule.  Buyer and Seller shall use reasonable
        efforts to finalize as many items on such proration schedule as possible before the Closing.  The items in subparagraphs (a) through (d) of this Section 8.4 shall be prorated between Seller and Buyer based on the actual number of days in the applicable
        period, as of the end of day immediately preceding the Closing Date, with Seller being entitled to income and obligated for expenses attributable to the period prior to the Closing Date, and Buyer being entitled to the income and obligated for
        expenses attributable to the Closing Date and thereafter.

     

      

     

      

    
      19

      
        

    

    

    

    (a)          Real Estate Taxes and Assessments.  Seller or Buyer, as the case may be, shall be allocated current general and special real estate taxes, bond interest (if applicable), assessments, improvement
        district assessments (including, any assessments imposed by private covenant) and similar items (“Taxes”) applicable to Buyer’s period of ownership or
        applicable to Seller’s period of ownership, respectively, even if such Taxes are not yet due and payable.  Buyer expressly acknowledges that Seller, as a regulated public utility, pays Taxes on the Property as assessed by the California State Board
        of Equalization (the “SBE”) as of January 1 of each year.  Once the Property is so assessed, Seller automatically is obligated to pay Taxes thereon for the
        subsequent fiscal year commencing the following July 1.  At the Closing, Taxes shall be prorated between Seller and Buyer, with Seller responsible for all Taxes allocable to the period before Closing, and Buyer responsible for all Taxes allocable
        to the period on and after Closing and Seller shall receive a credit for any amounts that Seller has become obligated to pay to the SBE (except to the extent that Buyer is obligated to pay Taxes for the same period of time to the City and County of
        San Francisco such that Buyer would be exposed to the payment of double Taxes).  Buyer shall cooperate with Seller and the SBE to complete any documentation necessary to transfer the assessment process out of the SBE jurisdiction and terminate the
        assessment of Taxes by the SBE.  The obligations of the parties under this Section 8.4(a) shall survive Closing.

    

    

    (b)          Rent.  Buyer shall receive a credit for any rent and other income (and any applicable state or local tax on rent), including operating expenses and other pass-through expenses, under the Leases
        collected by Seller before the Closing that apply to any period after the Closing.  Uncollected rent and other uncollected income shall not be prorated at the Closing.  After the Closing, Buyer shall apply all rent and income collected by Buyer
        from the Tenants, unless such Tenant properly identifies the payment as being for a specific item, first to Tenant’s monthly rental for the then current month, second to the Tenant’s monthly rental for the month in which the Closing occurred and
        then to arrearages in the reverse order in which they were due, remitting to Seller, after deducting any actual out-of-pocket collection costs, any rent properly allocable to Seller’s period of ownership.  Buyer shall bill and attempt to collect
        such rent arrearages in the ordinary course of business, but shall not be obligated to engage a collection agency or take legal action to collect any rent arrearages.  Any rent or other income received by Buyer after the Closing that is owed to
        Seller shall be held in trust and remitted to Seller promptly after receipt.  All Tenant security deposits (and interest thereon if required by law or contract to be earned thereon) shall be transferred or credited to Buyer at the Closing.  Any
        letters of credit or other non-cash Tenant security deposits held by Seller shall be transferred and re-issued to Buyer.  As of the Closing, Buyer shall assume Seller’s obligations related to Tenant security deposits, but only to the extent they
        are properly credited and transferred to Buyer.

    

    

    (c)          Contracts and Operating Expenses.  Seller or Buyer, as the case may be, shall receive a credit for regular charges under the Contracts and for operating expenses, paid and applicable to Buyer’s
        period of ownership or payable and applicable to Seller’s period of ownership, respectively.

    

    

    

    

    
      20

      
        

    

    

    

    (d)          Utilities.  Without duplication of the apportionment for operating expense pass-throughs, unreimbursed charges for assessments for sewer and water and other utilities, including charges for
        consumption of electricity, steam and gas and any other receipts or charges, as applicable, shall be apportioned by Buyer and Seller within four (4) weeks after the Closing.  Seller shall use reasonable efforts to have all meters read as close to,
        but before, the Closing as is feasible, and shall be responsible for amounts shown due by reason of such readings.

    

    

    8.5          Post-Closing Access.  Seller may inspect Buyer’s books and records related to the Property to confirm the proration calculations as provided in Section 8.5
        above.  For a period of at least one (1) year after the Closing, upon reasonable prior notice and during normal business hours, Buyer shall provide Seller and Seller’s designated accountants and auditors with access to the books and records of the
        Property and all similar information relating to the period prior to the Closing Date.

    

    

    ARTICLE 9

     

      

    General

    

    

    9.1          Notices.  All notices and other communications under this Agreement shall be properly given only if made in writing and (i) mailed by certified mail, return receipt requested, postage prepaid, or (ii) delivered by hand
        (including messenger or recognized delivery, courier or air express service), or (iii) by facsimile or email (accompanied by telephonic notice) provided however, that if such communication is given via facsimile transmission or email, an original
        counterpart of such communication shall concurrently be sent in the manner specified in item (ii) above, to the party at the address set forth in this Section 9.1 or such
        other address as such party may designate by notice to the other party pursuant to this Section 9.1.  Such notices and other communications shall be effective on the date
        of receipt (evidenced by the certified mail receipt) if mailed, on the date of such hand delivery if hand delivered, on the date of facsimile confirmation (provided that the foregoing requirements in connection with such facsimile are satisfied) or on the date the email is sent, provided that the sender does not receive any failure of delivery notice (provided that the foregoing requirements in connection
        with such email are satisfied).  If any such notice or other communication is not received or cannot be delivered due to a change in the address of the receiving party of which notice was not previously given to the sending party or due to a
        refusal to accept by the receiving party, such notice or other communication shall be effective on the date delivery is attempted.  Any notice or other communication under this Agreement may be given on behalf of a party by the attorney for such
        party.

    

    

    (a)          The address of Seller:

    

    

    Pacific Gas and Electric Company

    Corporate Real Estate Transactions Dept.

    Pacific Gas and Electric Company

    P.O. Box 770000, Mail Code N131

    San Francisco, CA 94177

     

    

     

    

    
      21

      
        

    

    

    

    OR

    

    

    245 Market Street, Room 1377

    San Francisco, CA 94105

    Attention: Tara Agid

      Email: TLHc@pge.com

    

    

    

    With a copy to:

    

    

    Law Department

    Pacific Gas and Electric Company

    P.O. Box 7442

    San Francisco, CA 94120

    Attn: Wendy Coleman, Esq.

    

    

    OR

    

    

    77 Beale Street, Mail Code B30A

    San Francisco, CA 94105

    Attn: Wendy Coleman, Esq.

    Email: wtc7@pge.com

    

    

    with a copy to:

    

    

    Pillsbury Winthrop Shaw Pittman LLP

    Four Embarcadero Center, Suite 2200

    San Francisco, California 94111

    Attention:  Rachel B. Horsch, Esq.

    Telephone No.:  (415) 983-1193

    Facsimile No.:  (415) 983-1200

    Email: rachel.horsch@pillsburylaw.com

    

    

    (b)          The address of Buyer is:

    

    

    Hines

    101 California Street, Suite 1000

    San Francisco, California  94111-5813

    Attn: Paul Paradis/Kevin Chow

    Telephone:  (415) 982-6200

    Facsimile:  (415) 398-1442

    Email:  paul.paradis@hines.com/kevin.chow@hines.com

     

    

     

    

    
      22

      
        

    

    

    

    with a copy to:

    

    

    Shartsis Friese, LLP

    One Maritime Plaza, 18th Floor

    San Francisco, California  94111

    Attn:  Peter Aitelli

    Telephone:  (415) 421-6500

    Facsimile:  (415) 421-2922

    Email:  paitelli@sflaw.com

    

    

    9.2          Attorneys’ Fees.  If there is any legal action or proceeding between Seller and Buyer arising from or based on this Agreement, the unsuccessful party to such action or proceeding shall pay to the prevailing party all costs
        and expenses, including reasonable attorneys’ fees and expenses, incurred by such prevailing party in such action or proceeding and in any appeal in connection therewith.  If such prevailing party recovers a judgment in any such action, proceeding
        or appeal, such costs, expenses and attorneys’ fees and expenses shall be included in and as a part of such judgment.

    

    

    9.3          Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of California without regard to principles of conflicts of laws.

    

    

    9.4          Construction.  Seller and Buyer acknowledge that each party and its counsel have reviewed and revised this Agreement and that the rule of construction to the effect that ambiguities are to be resolved against the drafting
        party shall not be employed in the interpretation of this Agreement or any document executed and delivered by either party in connection with the transactions contemplated by this Agreement.  The captions in this Agreement are for convenience of
        reference only and shall not be used to interpret this Agreement.

    

    

    9.5          Terms Generally.  The defined terms in this Agreement shall apply equally to both the singular and the plural forms of the terms defined.  Whenever the context may require, any pronoun shall include the corresponding
        masculine, feminine and neuter forms.  The term “person” includes individuals, corporations, partnerships, limited liability companies, trusts, other legal entities, organizations and associations, and any government or governmental agency or
        authority.  The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.”  The words “approval,” “consent” and “notice” shall be deemed to be preceded by the word “written.”

    

    

    9.6          Further Assurances.  From and after the Effective Date, Seller and Buyer agree to do such things, perform such acts, and make, execute, acknowledge and deliver such documents as may be reasonably necessary or proper and
        usual to complete the transactions contemplated by this Agreement and to carry out the purpose of this Agreement in accordance with this Agreement.

    

    

    9.7          Partial Invalidity.  If any provision of this Agreement is determined by a proper court to be invalid, illegal or unenforceable, such invalidity, illegality or unenforceability shall not affect the other provisions of this
        Agreement and this Agreement shall remain in full force and effect without such invalid, illegal or unenforceable provision.

     

      

     

      

    
      23

      
        

    

    

    

    9.8          Waivers.  No waiver of any provision of this Agreement or any breach of this Agreement shall be effective unless such waiver is in writing and signed by the waiving party and any such waiver shall not be deemed a waiver of
        any other provision of this Agreement or any other or subsequent breach of this Agreement.

    

    

    9.9          Miscellaneous.  The Exhibits and Schedules attached to this Agreement are by this reference incorporated herein and made a part of this Agreement.  Neither Seller nor Buyer shall make any public announcement of this
        Agreement or the transactions contemplated by this Agreement without the prior consent of the other, unless any such announcement is reasonably necessary to comply with applicable law.  Buyer shall not assign or transfer this Agreement, or any
        interest in or part of this Agreement, without the prior consent of Seller, which Seller may withhold in its sole and absolute discretion, except that Buyer may assign this Agreement with notice to, but without the consent of, Seller to an entity
        or entities that is or are affiliated with Buyer that have been formed by Buyer for the purpose of taking title to the Property.  No such assignment or transfer shall release Buyer from any obligation or liability under this Agreement.  Subject to
        the foregoing, this Agreement shall benefit and bind Seller and Buyer and their respective personal representatives, heirs, successors and assigns.  This Agreement may be executed in counterparts, each of which shall be an original, but all of
        which shall constitute one and the same Agreement.  This Agreement may not be amended or modified except by a written agreement signed by Seller and Buyer.  This Agreement and the Confidentiality Agreement constitute the entire and integrated
        agreement between Seller and Buyer relating to the purchase and sale of the Property, and this Agreement supersedes all prior agreements, understandings, offers and negotiations, oral or written, with respect to the sale of the Property.

    

    

    9.10          Time is of the Essence.  Subject to the express Closing extension rights included herein, time is of the essence of this Agreement.  In the computation of any period of time provided for in this Agreement or by law, the
        day of the act or event from which the period of time runs shall be excluded, and the last day of such period shall be included, unless it is not a business day, in which case the period shall be deemed to run until the end of the next day which is
        a business day.

    

    

    9.11          Electronic Signatures.  This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which taken together shall constitute one and the same instrument.  The words “execution”,
        “signed” and “signature” and words of like import in this Agreement shall include images of manually executed signatures transmitted by facsimile or other electronic format (including, without limitation, “.pdf”, “.tif” or “.jpg”) and other
        electronic signatures (including, without limitation, DocuSign and AdobeSign).  The use of electronic signatures and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received or
        stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based recordkeeping system to the fullest extent permitted by applicable law, including, without
        limitation, the Electronic Signatures in Global and National Commerce Act, any state law based on the Uniform Electronic Transactions Act and the Uniform Commercial Code.

    

    

    9.12          Exculpation.  No constituent shareholder, member or partner in or agent of Seller or Buyer, nor any advisor, trustee, director, officer, employee, beneficiary, shareholder, member, manager, partner, participant,
        representative or agent of any partnership, limited liability company, corporation, trust or other entity that has or acquires a direct or indirect interest in Seller or Buyer, shall have any personal liability, directly or indirectly, under or in
        connection with this Agreement or any agreement made or entered into under or pursuant to the provisions of this Agreement, or any amendment or amendments to any of the foregoing made at any time or times.  Each party and its successors and assigns
        and, without limitation, all other persons, shall look solely to the other party’s assets for the payment of any claim or for any performance, and each party, on behalf of itself and its successors and assigns, hereby waives any and all such
        personal liability.

     

      

     

      

    
      24

      
        

    

    

    

    9.13          Joint and Several Obligations.  If more than one person is included within the party designated hereinabove as Buyer, then each of the obligations imposed upon such party under this Agreement shall be the joint and
        several obligations of each of such persons.

    

    

    9.14          Business Day.  For purposes of this Agreement, the term “business day” shall mean Monday through Friday, inclusive, but excluding any day which is recognized as a legal holiday by the State of California or the United
        States.  If this Agreement specifies a day or date by which a certain action is to be taken or notice to be given (e.g., the Effective Date, or a specific calendar day), then the action to be taken or notice to be given must be completed by
        5:00 p.m. (Pacific time) on such date; provided, however, whenever action must be taken (including the giving of notice or the delivery of documents) under this Agreement during a certain period of time (or by a particular date) that ends (or
        occurs) on a non-business day, then such period (or date) shall be extended until the immediately following business day.

    

    

    

    

    [SIGNATURE PAGE TO FOLLOW]

    

    

    
      25

      
        

    

     

    

    IN WITNESS WHEREOF, Seller and Buyer have executed this Agreement as of the date first hereinabove written.

     

    

    
      	 	
              SELLER:

            	
              Pacific Gas and Electric Company,

                a California corporation

            
	 	 	 	 
	 	 	
              By:

            	
              /s/ Julius Cox

            
	 	 	
              Name:

            	
              Julius Cox

            
	 	 	
              Title:

            	
              Executive Vice President, People, Shared Services, and Supply Chain, Pacific Gas and Electric Company

            
	 	 	 	 
	 	
              BUYER:

            	
              Hines Atlas US LP,

              a Delaware limited partnership

            
	 	 	 	 
	 	 	
              [●]

            	 
	 	 	 	 
	 	 	
              By:

            	
              /s/ Richard Heaton

            
	 	 	
              Name:

            	
              Richard Heaton

            
	 	 	
              Title:

            	
              Chief Legal Officer

            
	 	 	 	 

    

    

    

    
      [Signature Page to Purchase Agreement]

    

    
      
        

    

    

    Title Company acknowledges receipt of the Deposit in the amount of Twenty Million Dollars ($20,000,000.00) and a copy of this Agreement executed by both Buyer and
      Seller.

    

    

    

    

    
      	
              Dated:  May ___, 2021

            	
              CHICAGO TITLE INSURANCE COMPANY

            
	 	 
	 	
              By:

            	 
	 	
              Name:

            	 
	 	
              Title:

            	 
	 	 	 
	 	 

    

    

    

    

    

    

    

    

    

    

    

    
      [Signature Page to Purchase Agreement]

    

    
      
        

      

    

     

      

    EXHIBIT A

    

    

    FORM OF DEED

    

    

    Recorded at Request of and

    When Recorded Mail to:

    
      	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

    

    

    Mail Tax Statements to:

    
      	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

      SPACE ABOVE THIS LINE FOR RECORDER’S USE

    

    

    

    

    THE UNDERSIGNED GRANTOR DECLARES:

    Documentary Transfer Tax is $[_____________]

    computed on full value of property conveyed.

    City and County of San Francisco

    

    

    

    

    GRANT DEED

    

    

    

    

              For valuable consideration, receipt of which is acknowledged Pacific

          Gas and Electric Company, a California corporation hereby grants to [____________________], a [____________________], the real property located in the City and County of San Francisco, described in Exhibit A attached hereto and made a part hereof, together with the tenements, easements, rights of way and appurtenances belonging or in any way appertaining to the same, and the improvements
        thereon, subject to all matters of record.

    

    

    

    

    Dated:  ____________, 2021

    

    

    

    

    [signature on following page]

     

    

     

    

    
      Exhibit A

    

  

  
    
      

  

  

    

       

    GRANTOR: 

    
      	 	 	 
	 	 

            	
              Pacific Gas and Electric Company,

                a California corporation

            
	 	 	 	 
	 	 	
              By:

            	 

            
	 	 	
              Name:

            	 

            
	 	 	
              Title:

            	
              

              

            
	 	 	 	 

    

        

     

    

    
      	
               

              

              A notary public or other officer completing this certificate verifies only the identity of the individual who signed the
                document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

               

            	 

    

    

    

     

    	
             

            STATE OF

            COUNTY OF                             

              

             

          	
            ss:

          	 

    

    

    
      	
              On

            	 	
              before me,

            	 	
              , a Notary Public, personally

            
	 	 	(here insert name and title of the officer)  

            

    

    
      	
              appeared

            	 

    

    
      who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that
        he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

       

      I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

       

      WITNESS my hand and official seal.

      

      

      
        	
                Signature

              	 	 
	 	
                (This area for notary stamp)

              

      

      

      

      

      

      Exhibit A 

    

  

  
    
      

  

  

     

      

    EXHIBIT B

    

    

    ASSIGNMENT OF LEASES

    

    

    THIS ASSIGNMENT OF LEASES (this “Assignment”), made as of
      ___________, ___, by and between ________________, a ________________ (“Seller”), and _________________, a ___________________ (“Buyer”),

    

    

    W I T N E S S E T H:

    

    

    For valuable consideration, receipt of which is acknowledged, Seller and Buyer agree as follows:

    

    

    1.          Assignment and Assumption.

    

    

    (a)          Seller hereby assigns and transfers to Buyer all
        right, title and interest of Seller in, to and under the leases, lease amendments, lease guaranties, work letter agreements, improvement agreements, subleases, assignments, licenses, concessions and other agreements (the “Leases”) described in Exhibit 1 attached hereto and made a part hereof.

    

    

    (b)          Buyer hereby accepts the foregoing assignment, and
        assumes, agrees to perform all of the covenants and agreements in the Leases to be performed by the landlord thereunder that arise or accrue from and after the date of this Assignment.

    

    

    3.          Further Assurances.  Seller and Buyer agree to execute such other documents and perform such other acts as may be reasonably necessary or proper and usual to effect this Assignment.

    

    

    4.          Governing Law.  This Assignment shall be governed by and construed in accordance with the laws of the State of California.

    

    

    5.          Successors and Assigns.  This Assignment shall be binding upon and shall inure to the benefit of Seller and Buyer and their respective personal representatives, heirs, successors and assigns.

    

    

    6.          Counterparts.  This Assignment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Signature pages may be detached
        from the counterparts and attached to a single copy of this Assignment to physically form one document.

    

    

    [Signatures appear on next page]

    

    

    
      Exhibit B

    

    
      
        

      

    

    

    

    

    

    

    IN WITNESS WHEREOF, Seller and Buyer have executed this Assignment as of the date first hereinabove written.

    

    
      
        	 	
                SELLER:

              
	 	 
	 	
                Pacific Gas and Electric Company,

                  a California corporation

              
	 	 	 
	 	
                By:

              	
                [DRAFT]

              
	 	
                Name:

              	 

              
	 	
                Title:

              	
                

                

              
	 	 	 
	 	 
	 	
                BUYER:

                

                

                [BUYER ENTITY,

                
                  a [____________________]]

                

              
	 	 	 
	 	 	 
	 	
                By:

              	 [DRAFT]
	 	
                Name:

              	 

              
	 	
                Title:

              	 

              
	 	 	 

      

      

      

      
        Exhibit B

         

        

      

    

    
      
        

    

     

      

    EXHIBIT C

    

    

    BILL OF SALE

    

    

    For valuable consideration, receipt of which is acknowledged, Pacific Gas and Electric Company, a California corporation (“Seller”), hereby sells, assigns, transfers and delivers to ______________, a ______________ (“Buyer”),

      all of Seller’s right, title and interest in and to all improvements, furniture, furnishings, trade fixtures, building systems and equipment, the personal property, tangible or intangible, owned by Seller and relating to or used in connection with
      the operation of the real property described on Exhibit 1 attached hereto or the leasehold property described on Exhibit 2 attached hereto, but excluding those items described in Exhibit 3
      attached hereto (the “Personal Property”).

    

    

    SELLER HAS MADE NO AFFIRMATION OF FACT OR PROMISE RELATING TO THE PERSONAL PROPERTY THAT HAS BECOME ANY BASIS OF THIS BARGAIN, AND FURTHER, SELLER HAS
      MADE NO AFFIRMATION OF FACT OR PROMISE RELATING TO THE PERSONAL PROPERTY THAT WOULD CONFORM TO ANY SUCH AFFIRMATION OR PROMISE.  SELLER DISCLAIMS ANY WARRANTY OF FITNESS FOR ANY PARTICULAR PURPOSE WHATEVER WITH RESPECT TO THE PERSONAL PROPERTY.  THE
      PERSONAL PROPERTY IS SOLD ON AN “AS IS” BASIS.

    

    

    Dated:  ____________.

    

    

    
      
        	 	
                SELLER:

              
	 	 
	 	
                Pacific Gas and Electric Company,

                  a California corporation

              
	 	 	 
	 	
                By:

              	
                [DRAFT]

              
	 	
                Name:

              	 

              
	 	
                Title:

              	
                

                

              
	 	 	 
	 	 

        

        

        

      

      

      

    

    Exhibit C

     

    

    
      
        

    

    EXHIBIT D

    

    

    ASSIGNMENT OF CONTRACTS

    

    

    THIS ASSIGNMENT OF CONTRACTS (the “Assignment”), made as of
      ___________, ____, by and between Pacific Gas and Electric Company, a California corporation (“Seller”), and __________________, a __________________ (“Buyer”),

    

    

    W I T N E S S E T H:

    

    

    For valuable consideration, receipt of which is acknowledged, Seller and Buyer agree as follows:

    

    

    1.          Assignment and Assumption.

    

    

    (a)          Seller hereby assigns and transfers to Buyer all
        right, title and interest of Seller in, to and under the contracts (the “Contracts”) described in Exhibit 1 attached hereto and made a part hereof and all warranties, guarantees, building permits, certificates of occupancy, and other certificates, permits, licenses and approvals associated with the property described in
        Exhibit 2 (to the extent assignable).

    

    

    (b)          Buyer hereby accepts the foregoing assignment,
        assumes and agrees to perform all of the covenants and agreements in the Contracts to be performed by Seller thereunder that arise or accrue from and after the date of this Assignment.

    

    

    2.          Further
            Assurances.  Seller and Buyer agree to execute such other documents and perform such other acts as may be reasonably necessary or proper and usual to effect this Assignment.

    

    

    3.          Governing

            Law.  This Assignment shall be governed by and construed in accordance with the laws of the State of California.

    

    

    4.          Successors

            and Assigns.  This Assignment shall be binding upon and shall inure to the benefit of Seller and Buyer and their respective personal representatives, heirs, successors and assigns.

    

    

    5.          Counterparts. 

        This Assignment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Signature pages may be detached from the counterparts and attached to a
        single copy of this Assignment to physically form one document.

    

    

    [Signatures appear on next page]

    

    

    

    

    
      Exhibit D

    

    
      
        

    

    

    

    

    

    IN WITNESS WHEREOF, Seller and Buyer have executed this Assignment as of the date first hereinabove written.

     

    

    

      
        
          	 	
                  SELLER:

                
	 	 
	 	
                  Pacific Gas and Electric Company,

                    a California corporation

                
	 	 	 
	 	
                  By:

                	
                  [DRAFT]

                
	 	
                  Name:

                	 

                
	 	
                  Title:

                	
                  

                  

                
	 	 	 
	 	 
	 	
                  BUYER:

                  

                  

                  [BUYER ENTITY,

                  
                    a [____________________]]

                  

                
	 	 	 
	 	 	 
	 	
                  By:

                	 [DRAFT]
	 	
                  Name:

                	 

                
	 	
                  Title:

                	 

                
	 	 	 

        

        

        

      

    

    

    Exhibit D

    
      
        

    

    EXHIBIT E

    

    

    SELLER’S CLOSING CERTIFICATE

    

    

    For valuable consideration, receipt of which is acknowledged, __________, a __________ (“Seller”), hereby certifies to ___________________, a _______________ (“Buyer”), that all representations and warranties made by
      Seller in Section 5.1 of the Purchase Agreement dated ________________, ______, between Seller and Buyer (the “Purchase Agreement”) are true and correct in all
      material respects on and as of the date of this Certificate except for any changes that are not materially adverse and any changes in the list of Leases attached to the Assignment of Leases from Schedule 2 attached to the Purchase Agreement or in the list of Contracts attached to the Assignment of Contracts from Schedule 4 attached to the
      Purchase Agreement.  This Certificate is executed by Seller and delivered to Buyer pursuant to the Purchase Agreement.

    

    

    Dated:  ____________.

    
      

      

      
        
          	 	
                  SELLER:

                
	 	 
	 	
                  Pacific Gas and Electric Company,

                    a California corporation

                
	 	 	 
	 	
                  By:

                	
                  [DRAFT]

                
	 	
                  Name:

                	 

                
	 	
                  Title:

                	
                  

                  

                
	 	 	 
	 	 

          

          

          

          	

                	

                

        

      

    

    

    

    

    Exhibit E

     

    

    
      
        

    

    EXHIBIT F

    

    

    BUYER’S CLOSING CERTIFICATE

    

    

    

    

    For valuable consideration, receipt of which is acknowledged, ___________________, a _________________ (“Buyer”), hereby certifies to __________________, a ____________ “Seller”), that all representations and
      warranties made by Buyer in Section 5.2 of the Purchase Agreement dated _____________, ______, between Seller and Buyer (the “Purchase Agreement”) are true and
      correct in all material respects on and as of the date of this Certificate except for any changes that are not materially adverse.  This Certificate is executed by Buyer and delivered to Seller pursuant to the Purchase Agreement.

    

    

    Dated:  ____________.

     

    

    
      
        	 	
                BUYER:

                

                

                [BUYER ENTITY,

                
                  a [____________________]]

                

              
	 	 	 
	 	 	 
	 	
                By:

              	 [DRAFT]
	 	
                Name:

              	 

              
	 	
                Title:

              	 

              
	 	 	 

      

      

      

      
        Exhibit F

      

    

    
      
        

    

    EXHIBIT G

    

    

    CERTIFICATE OF NON-FOREIGN STATUS

    

    

    Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the transferor is a foreign
      person.  For U.S. tax purposes (including section 1445), the owner of a disregarded entity (which has legal title to a U.S. real property interest under local law) will be the transferor of the property and not the disregarded entity.  To inform the
      transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by Pacific Gas and Electric Company, a California corporation (“Seller”),

      the undersigned hereby certifies the following on behalf of Seller:

    

    

    1.          Seller is not a foreign corporation, foreign
        partnership, foreign trust or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations);

    

    

    2.          Seller is not a disregarded entity as defined in
        Income Tax Regulations section 1.1445-2(b)(2)(iii).

    

    

    3.          Seller’s U.S. employer identification number is
        _____________; and

    

    

    4.          Seller’s office address is
        ______________________________.

    

    

    Seller understands that this certification may be disclosed to the Internal Revenue Service by the transferee and that any false statement contained
      herein could be punished by fine, imprisonment, or both.

    

    

    Under penalties of perjury I declare that I have examined this certification and to the best of my knowledge and belief it is true, correct and
      complete, and I further declare that I have authority to sign this document on behalf of Seller.

    

    

    Dated: __________________.

    
      

      

      
        
          	 	
                  SELLER:

                
	 	 
	 	
                  Pacific Gas and Electric Company,

                    a California corporation

                
	 	 	 
	 	
                  By:

                	
                  [DRAFT]

                
	 	
                  Name:

                	 

                
	 	
                  Title:

                	
                  

                  

                
	 	 	 
	 	 

          

          

          

          	

                	

                

        

      

    

    

    

    

    Exhibit G

    

    

    
      
        

    

    EXHIBIT H

    

    

    PG&E LEASE

    

    

    
      LEASE AGREEMENT

      

      

      dated as of _____________, 20___,

       

      by and between

       

      ____________________________,

       

      a _____________________ (“Landlord”),

       

      and

       

      Pacific Gas and Electric Company,

      a California corporation (“Tenant”)

       

      

      

       

      
        
          

      

      
      TABLE OF CONTENTS

      

      

      Page Number

      

      

      
        	
                1.

              	
                Lease.

              	
                1

              
	 	
                1.1

              	
                Premises

              	
                1

              
	 	
                1.2

              	
                Project Rights and Obligations

              	
                1

              
	 	
                1.3

              	
                Landlord Waiver

              	
                1

              
	 	
                1.4

              	
                Acceptance of Premises

              	
                1

              
	
                2.

              	
                Term; Extension Right

              	
                2

              
	 	
                2.1

              	
                Term

              	
                2

              
	 	
                2.2

              	
                Extension Right

              	
                2

              
	
                3.

              	
                Rent

              	 	
                2

              
	 	
                3.1

              	
                Base Rent

              	
                2

              
	 	
                3.2

              	
                Additional Rent

              	
                2

              
	 	
                3.3

              	
                Payment to Landlord

              	
                3

              
	 	
                3.4

              	
                Late Charges and Interest

              	
                3

              
	
                4.

              	
                Insurance

              	 	
                3

              
	 	
                4.1

              	
                Tenant’s Insurance Requirements

              	
                3

              
	 	
                4.2

              	
                Landlord’s Insurance Requirements

              	
                5

              
	 	
                4.3

              	
                General Requirements

              	
                5

              
	 	
                4.4

              	
                Waiver of Subrogation

              	
                6

              
	
                5.

              	
                Taxes

              	 	
                6

              
	 	
                5.1

              	
                Real Property Taxes

              	
                6

              
	 	
                5.2

              	
                Personal Property Taxes

              	
                6

              
	
                6.

              	
                Utilities, Services, Repairs and Maintenance

              	
                6

              
	 	
                6.1

              	
                Landlord’s Obligations

              	
                6

              
	 	
                6.2

              	
                Tenant’s Obligations

              	
                8

              
	 	
                6.3

              	
                Inspection of Premises

              	
                8

              
	 	
                6.4

              	
                Landlord Self-Help

              	
                8

              
	
                7.

              	
                Alterations

              	
                8

              
	 	
                7.1

              	
                Tenant Alterations

              	
                8

              
	 	
                7.2

              	
                Mechanics Liens

              	
                9

              
	
                8.

              	
                Use and Compliance With Laws

              	
                9

              
	 	
                8.1

              	
                Permitted Use

              	
                9

              
	 	
                8.2

              	
                Prohibited Uses

              	
                9

              
	 	
                8.3

              	
                Cessation of Operation

              	
                10

              
	 	
                8.4

              	
                Compliance With Laws

              	
                10

              
	
                9.

              	
                Damage and Destruction

              	
                10

              
	 	
                9.1

              	
                Repair Estimate

              	
                10

              
	 	
                9.2

              	
                Tenant’s and Landlord’s Rights to Terminate

              	
                11

              
	 	
                9.3

              	
                Repair Obligation

              	
                11

              
	 	
                9.4

              	
                Abatement of Rent

              	
                11

              

        

        

        

          

        

        
          i

          
            

        

        

        

        

        	
                10.

              	
                Eminent Domain

              	
                11

              
	 	
                10.1

              	
                Total Condemnation

              	
                11

              
	 	
                10.2

              	
                Partial Condemnation

              	
                11

              
	 	
                10.3

              	
                Landlord’s Award

              	
                12

              
	
                11.

              	
                Default

              	 	
                12

              
	 	
                11.1

              	
                Events of Tenant Default

              	
                12

              
	 	
                11.2

              	
                Landlord’s Remedies

              	
                12

              
	 	
                11.3

              	
                Landlord’s Default

              	
                14

              
	 	
                11.4

              	
                Tenant’s Remedies

              	
                14

              
	 	
                11.5

              	
                Exculpation

              	
                15

              
	
                12.

              	
                Assignment and Subletting

              	
                16

              
	 	
                12.1

              	
                Landlord’s Consent

              	
                16

              
	 	
                12.2

              	
                Permitted Transfers

              	
                16

              
	 	
                12.3

              	
                Terms of Transfer

              	
                16

              
	
                13.

              	
                Estoppel Certificate; Attornment and Subordination; Quiet Enjoyment

              	
                17

              
	 	
                13.1

              	
                Estoppel Certificate

              	
                17

              
	 	
                13.2

              	
                Attornment

              	
                17

              
	 	
                13.3

              	
                Subordination

              	
                17

              
	 	
                13.4

              	
                Quiet Enjoyment

              	
                17

              
	
                14.

              	
                Brokerage Commission

              	
                18

              
	
                15.

              	
                Environmental Matters

              	
                18

              
	 	
                15.1

              	
                Landlord Indemnity

              	
                18

              
	 	
                15.2

              	
                Tenant Indemnity

              	
                18

              
	 	
                15.3

              	
                Compliance with Environmental Laws

              	
                18

              
	
                16.

              	
                General Provisions

              	
                19

              
	 	
                16.1

              	
                Holding Over

              	
                19

              
	 	
                16.2

              	
                Mutual Consequential Damages Waiver

              	
                19

              
	 	
                16.3

              	
                Notices

              	
                19

              
	 	
                16.4

              	
                Successors Bound

              	
                20

              
	 	
                16.5

              	
                Waiver

              	
                21

              
	 	
                16.6

              	
                Time

              	
                21

              
	 	
                16.7

              	
                Attorneys’ Fees

              	
                21

              
	 	
                16.8

              	
                Construction

              	
                21

              
	 	
                16.9

              	
                Severability

              	
                21

              
	 	
                16.10

              	
                Applicable Law

              	
                22

              
	 	
                16.11

              	
                Consent

              	
                22

              
	 	
                16.12

              	
                Agreements in Writing

              	
                22

              
	 	
                16.13

              	
                Authority

              	
                22

              
	 	
                16.14

              	
                Sale of Premises

              	
                22

              
	 	
                16.15

              	
                Force Majeure

              	
                22

              
	 	
                16.16

              	
                Indemnification; Hold Harmless

              	
                22

              
	 	
                16.17

              	
                Surrender of Possession

              	
                23

              
	 	
                16.18

              	
                OFAC Certification of Landlord

              	
                24

              
	 	
                16.19

              	
                OFAC Certification of Tenant

              	
                24

              

        

        

        

        

        
          ii

          
            

        

        

        

        

        	 	
                16.20

              	
                Counterparts

              	
                24

              
	 	
                16.21

              	
                Mandatory Negotiation and Mediation

              	
                24

              
	 	
                16.22

              	
                Joint and Several Liability

              	
                25

              

      

       

      Exhibit A         Premises and Base Rent

      Exhibit B          Project Rights and Obligations

      Exhibit C          Depiction of Premises and Non-Exclusive Rights
          Use Areas

      Exhibit D          Depiction of Expiration Dates as to 77 Beale
          Portion of Premises

      

      

       

      
        iii

        
          

      

      
       

        

      LEASE AGREEMENT

       

      THIS LEASE AGREEMENT (the “Lease”) is entered into as of
        _____________, 20___, by and between [______________, a ___________] (“Landlord”), and Pacific Gas and Electric Company, a California corporation (“Tenant”).

       

      Recitals

       

      A.          Landlord is the owner of the real properties located
          at 25 and 77 Beale Street, 215 and 245 Market Street, and 50 Main Street, each in the City and County of San Francisco (the “City”), State of California (the
          “State”), together with all improvements constructed or to be constructed on such real property (collectively, the “Project”).

       

      B.          Tenant desires to lease the Premises (as defined
          below) and Landlord desires to lease the Premises to Tenant.

       

      Agreement

       

      NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree to the above Recitals and
        as follows:

       

      1.          Lease.

       

      1.1          Premises.  Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord certain portions of the Project as set forth in Exhibit A hereto (“Premises”), upon all of the terms, covenants and conditions in this Lease.

       

      1.2          Project Rights and Obligations.  For no additional charge, Tenant shall have certain additional non-exclusive rights to use, and certain other rights with respect to, the portions of the Project
          not comprising the Premises identified in and described on Exhibit B attached hereto.  The Premises and certain non-exclusive rights use areas are
          depicted on site plans attached as Exhibit C.  In addition, Landlord shall limit any use of the Project (including any renovations of and
          redevelopment of the portions of the Project not including the Premises) in any manner that would unreasonably interfere with Tenant’s use and enjoyment of, or access to, the Premises, it being understood that any activities that impair
          uninterrupted functioning of the [●] (the “[●]”) would be unreasonable
          interference (“Unreasonable Interference”).

       

      1.3          Landlord Waiver.  Landlord hereby waives any and all rights it may have in Tenant’s personal property, including without limitation, Tenant’s inventory, trade fixtures, and equipment that may be
          removed without damage to the Premises.  Landlord shall execute, upon request by Tenant, a confirmation of such waiver in a commercially reasonable form.

       

      1.4          Acceptance of Premises.  By entry hereunder, Tenant accepts the Premises from Landlord in its “as is”, “where is” condition.  Landlord has made no representations or warranties respecting the
          Premises and Tenant has investigated and inspected the Premises and has satisfied itself that the Premises are suitable for the Tenant’s intended use thereof and are in compliance with applicable laws and codes.  For purposes of Section 1938 of
          the California Civil Code, Landlord hereby discloses to Tenant, and Tenant hereby acknowledges, that the Premises have not undergone inspection by a Certified Access Specialist (CASp).

       

        

       

        

      
        1

        
          

      

       

      2.          Term; Extension Right.

       

      2.1          Term.  The “Term” shall be the period commencing on the date hereof (“Commencement Date”) and continuing, as to each space within the 45 Beale portion of the Premises, through December 31, 2023, and, as to each space within the 77 Beale portion of the
          Premises, through December 31, 2022 or December 31, 2023, as indicated on Exhibit  D attached hereto.  As used herein, the “Expiration Date” of this Lease shall mean, as to the space within the 45 Beale portion of the Premises, December 31, 2023, and, as to any given space within the 77 Beale portion
          of the Premises, December 31, 2022 or December 31, 2023, as appropriate, unless in either case extended as described below.

       

      2.2          Extension Right.  Tenant shall have two (2) successive options (each an “Option to Extend”) to extend the
          Term of this Lease for a period of three (3) months each (each an “Option Period”) as to each space within the Premises, commencing on the day immediately
          following the Expiration Date of this Lease with respect to the applicable space or the day immediately following the expiration of the prior Option Period, as the case may be, on all the same terms and conditions of the Lease excepting the
          monthly Base Rent which shall be at two hundred percent (200%) of the Base Rent for the Premises.  Tenant shall exercise its Option to Extend by giving written notice to Lessor of exercise (the “Exercise Notice”) not less than three (3) months prior to the commencement of the Option Period.

       

      3.          Rent.

       

      3.1          Base Rent.  Beginning on the Commencement Date, Tenant shall pay monthly base rent (“Base Rent”) during the
          Term for each portion of the Premises in accordance with Exhibit A.  Tenant shall pay the Base Rent in advance upon the first (1st) day of each
          calendar month of the Term, without notice, demand or offset, except as otherwise expressly stated herein.  If the Term or a reduction in the Premises commences or ends on a day other than the first (1st) day or last day of a calendar month, as
          applicable, then Tenant shall pay a pro rata portion of the Base Rent, prorated on a per diem basis.

       

      3.2          Additional Rent.

       

      3.2.1          All charges required to be paid by Tenant
          hereunder other than Base Rent shall be referred to as “Additional Rent”.  Tenant shall pay Additional Rent within thirty (30) days after Tenant’s receipt of
          a statement from Landlord, except as otherwise provided in this Lease.  All Additional Rent shall be deemed “rent” or “Rent” hereunder for all purposes, including Landlord’s remedies for non-payment thereof.

       

      3.2.2          Landlord and Tenant shall work together
          cooperatively and collaboratively on the payment of Project operating expenses, it being understood that Tenant shall be responsible for the payment of any aggregate expenses above normal and customary aggregate expenses for a tenant leasing
          premises in size substantially-similar to the Premises for general office purposes in the San Francisco Financial District.

       

        

       

        

      
        2

        
          

      

       

      3.2.3          For the avoidance of doubt, unless otherwise
          provided for in this Lease (including Section 3.2.2 above), Tenant has no obligation to reimburse Landlord for any expenses of ownership, operation, repair and maintenance of the Project.

       

      3.3          Payment to Landlord.  Payments of rents and all other amounts to be paid by Tenant to Landlord hereunder shall be made to Landlord at the address specified in Section 16.3 hereof, or at such other place as Landlord may from time to time direct in writing.  All rent shall be paid without prior notice, demand and without right of deduction or offset,
          except as otherwise provided in this Lease.

       

      3.4          Late Charges and Interest.  Tenant hereby acknowledges that late payment by Tenant of the Base Rent or any Additional Rent shall cause Landlord to incur costs not contemplated by this Lease. 
          Accordingly, if any installment of Base Rent or any Additional Rent is not be paid within three (3) business days after the date that Landlord gives written notice to Tenant of Tenant’s failure to timely pay such sum(s), Tenant shall thereupon
          pay to Landlord a late charge equal to ten percent (10%) of the amount that is due (“Late Charge”); provided, however, that Landlord shall be required to
          give notice to Tenant only once per twelve (12) month period and, thereafter, a Late Charge shall accrue if the Rent is not paid within three (3) business days after the date the same is due hereunder.  Landlord and Tenant agree that this Late
          Charge represents a reasonable sum considering all of the circumstances existing on the date of this Lease, including the relationship of the sum to the loss to Landlord that could be reasonably anticipated by such nonpayment by Tenant and the
          anticipation that proof of actual damages sustained by Landlord would be costly or inconvenient to determine.  Such Late Charge shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord
          from exercising any of the other rights and remedies available to Landlord at law, in equity, or under this Lease.  In addition, any Base Rent or Additional Rent (excluding any Late Charge) not paid within thirty (30) days after the date the same
          is due hereunder, shall bear interest at the higher of ten percent (10%) or the maximum rate allowable under law (the “Interest Rate”).

       

      4.          Insurance.

       

      4.1          Tenant’s Insurance Requirements.

       

      4.1.1          All Risk; Property Insurance.  Tenant shall procure and maintain during the Term, at its expense, insurance covering Tenant’s personal property from time to time in, on, or at the Premises, in an
          amount equal to the full replacement cost, and providing protection against events protected under “fire and extended coverage,” as well as against sprinkler damage, vandalism and malicious mischief.  The proceeds from such insurance shall be
          used solely for the repair or replacement of the property damaged or destroyed unless this Lease shall cease and terminate under the provisions of Article 9 hereof,
          whereupon any proceeds of insurance covering Tenant’s leasehold improvements and any alterations or additions to the Premises shall be payable to Tenant.

       

      4.1.2          Commercial General Liability Insurance and Umbrella Insurance.  During the Term, Tenant shall, at Tenant’s cost and expense, maintain and carry liability insurance with respect to damage or injury
          to property or person (including death) occurring on the Premises, or any part thereof, or arising from the ownership, use, occupancy or maintenance thereof, or arising directly or indirectly from any act or omission of Tenant or any Tenant’s
          agents, employees or contractors.  The liability insurance to be maintained by Tenant shall also insure performance of all of Tenant’s hold harmless and indemnity obligations under this Lease.  Such insurance shall be carried and maintained with
          a per occurrence limit of not less than Two Million Dollars ($2,000,000) primary coverage, which may be satisfied through primary and umbrella coverage.  Such insurance shall be in a Commercial General Liability form providing for blanket
          contractual liability coverage, broad form property damage coverage, products completed operations, and owner’s protective coverage.  Landlord shall be included as additional insured through a Blanket Additional Insured endorsement.  Such
          insurance maintained by Tenant shall be issued as primary policy(ies) and not contributing with or in excess of coverage that Landlord may carry.

       

      
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      4.1.3          Self-Insurance.

       

      (a)          Notwithstanding any provision of
          this Lease to the contrary, Tenant shall have the right to fulfill any or all of its insurance obligations under this Lease by self-insurance, provided that the right to self-insure shall only apply so long as Tenant is the original Tenant named
          in this Lease and is wholly-owned by PG&E Corporation, a company that is publicly traded on the NYSE or, subject to obtaining Landlord’s reasonable approval, Tenant is a Permitted Transferee that maintains a self-insurance program similar to
          the self-insurance program of the original Tenant named herein with similar regulatory recovery treatment.

       

      (b)          Any self-insurance by Tenant shall
          not result in decreased coverage to Landlord from what would have been provided to Landlord had Landlord been named as additional insured under insurance meeting the requirements of this Section 4.1 underwritten by a third-party insurance
          carrier.

       

      (c)          Tenant shall have no claim against
          Landlord, and Tenant shall have waived all rights of recovery against Landlord, it’s agents, officers, directors, shareholders or employees for any damage, loss, or injury to the extent the same would have been covered by an insurance policy
          required under this Lease even if Tenant is self-insuring for all or a portion of such insurance, giving full effect to the waiver of subrogation provisions otherwise contained in this Lease.     

       

      4.1.4          Additional Requirements.  Tenant shall furnish to Landlord, prior to delivery of possession of the Premises, and thereafter prior to the expiration of each such policy, memorandum of insurance or a
          certificate of insurance issued by the insurance carrier of each policy of insurance carried pursuant to this Lease.  The policies provided for or contemplated by Section 4.1 shall name Tenant as the insured and Landlord (and its successors
          and/or assigns) as additional insured.  To the extent available on commercially reasonable terms, all policies provided for in this Section 4.1 shall contain clauses or endorsements to the effect that, or otherwise provide that the policies shall
          not be canceled without at least thirty (30) days’ notice to Landlord, except for non-payment of premium which shall be ten (10) days.  Any blanket insurance policy shall provide for the benefit of the Premises the amount of coverage from time to
          time required hereunder and shall otherwise provide the same protection as would a separate policy insuring only the Premises in compliance with the provisions of this Section 4.1.

       

      4.2          Landlord’s Insurance Requirements.  Landlord shall, at all times during the Term of this Lease, procure and continue in full force the following insurance, at its cost:

       

        

       

        

      
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      4.2.1          All Risk; Property Insurance.  Special form causes of loss (“all-risk” and also known as “special form perils”) insurance (including boiler and machinery/equipment breakdown insurance, and
          terrorism insurance) insuring against loss or damage by fire, sprinkler leakage, special extended perils (all risk), inflation guard endorsement, vandalism and malicious mischief endorsements, or their equivalents.  Such insurance shall be
          obtained in commercially reasonable amounts determined from time to time by Landlord in its discretion, but in no event less than one hundred (100%) of replacement cost, with loss payable to Landlord and to any authorized mortgagee of Landlord
          (with standard mortgagee loss payable clause) in accordance with their respective interests for the purpose of restoring or rebuilding the Project to like kind and quality.

       

      4.2.2          Commercial General Liability Insurance and Umbrella Insurance.  Commercial General Liability Insurance against bodily injury, personal injury, death and property damage based upon, involving or
          arising out of any act or omission of Landlord or any of Landlord’s agents, employees or contractors in the ownership, use, occupancy or maintenance of the Premises and the Project.  Such insurance shall be on an occurrence basis, providing One
          Million Dollars ($1,000,00.00) per occurrence and Two Million Dollars ($2,000,000.00) in aggregate.  Such insurance shall cover at least the following hazards: (1) premises and operations; (2) products and completed operations on an “if any”
          basis; and (3) Contractual Liability as defined in the CGL policy.  Landlord shall maintain Excess/ Umbrella Liability insurance in the amount of, no less than Ten Million Dollars ($10,000,000.00) per occurrence and in aggregate covering claims
          arising out of the ownership use, occupancy or maintenance of the Premises, the Project, and all areas appurtenant thereto.

       

      4.2.3          Ordinance and Law Insurance.  Ordinance or law coverage to compensate for the cost of demolition (up to ten percent (10%) of building value) and rebuilding of the undamaged portion of the Project
          (full limit per building value) along with any increased cost of construction (up to ten percent (10%) of Project value), in an amount no less than the full replacement value of the Project.

       

      4.2.4          Additional Requirements. 
          Landlord shall furnish to Tenant, prior to delivery of possession of the Premises, and thereafter prior to the expiration of each such policy, memorandum of insurance or a certificate of insurance issued by the insurance carrier of each policy of
          insurance carried pursuant to this Lease.  The policies provided for or contemplated by Section 4.2 shall name Landlord as the insured and Tenant (and its successors and/or assigns) as additional insured.  Any blanket insurance policy shall
          provide for the benefit of the Premises the amount of coverage from time to time required hereunder and shall otherwise provide the same protection as would a separate policy insuring only the Premises in compliance with the provisions of this
          Section 4.2.

       

      4.3          General Requirements.  All insurance carried by Landlord or Tenant pursuant to this Lease shall be issued by reputable insurance companies authorized to do business in the State of California
          having a rating of at least A-, VIII in the most current issue of “AM Best’s Insurance Guide.”  If either Landlord or Tenant fails to procure or maintain any policy required to be maintained under this Lease by such party, the other party may
          elect, in addition to all other remedies available to it at law, in equity, or under this Lease, to procure or maintain such policy at the expense of the party required to carry such policy, and the party required to carry such policy shall
          reimburse the other party therefor upon demand.  Subject to Section 4.4 below, in no event shall the limits of any insurance to be obtained by either party limit the
          liability of such party under this Lease.  Nothing in this Lease shall prevent Tenant from carrying any of the insurance required of Tenant hereunder in the form of a blanket insurance policy or policies which cover other properties owned or
          operated by Tenant in addition to the Premises, so long as coverage provided thereunder is thereby not diminished.

       

       

      

      
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      4.4          Waiver of Subrogation.

       

      4.4.1          Waiver.  Each party, for itself and, without affecting any insurance maintained by such party, on behalf of its insurer, releases and waives any right to recover against the other party, including
          officers, employees, agents and authorized representatives (whether in contract or tort) of such other party, that arise or result from any and all loss of or damage to any property of the waiving party located within or constituting part of the
          Premises and the Project, to the extent of amounts payable under a standard ISO Commercial Property insurance policy, or such additional property coverage as the waiving party may carry (with a commercially reasonable deductible), whether or not
          the party suffering the loss or damage actually carries any insurance, recovers under any insurance or self-insures the loss or damage.  Each party shall have their property insurance policies issued in such form as to waive any right of
          subrogation as might otherwise exist.  This mutual waiver is in addition to any other waiver or release contained in this Lease. 

       

      4.4.2          Waiver in Event of Self-Insurance.  Notwithstanding the terms of Section 4.4.1 above, if Tenant self-insures in
          accordance with Section 4.1.3, then Tenant releases and waives any right to recover against Landlord, including officers, employees, agents and authorized
          representatives (whether in contract or tort) of Landlord, that arise or result from any and all loss of or damage to any property of Tenant located within or constituting part of the Premises and the Project, to the extent of the waiver
          contained in Section 4.1.3(c).  This waiver is in addition to any other waiver or release contained in this Lease.

       

      5.          Taxes.

       

      5.1          Real Property Taxes.  Landlord shall pay or cause to be paid, prior to delinquency, all real property taxes to the extent relating to the Project and the parcels of land underlying the Project (“Real Property Taxes”).

       

      5.2          Personal Property Taxes.  Tenant shall pay or cause to be paid, prior to delinquency, any and all taxes and assessments levied upon Tenant’s trade fixtures, inventories and other personal property
          located in and upon the Premises.

       

      6.          Utilities, Services, Repairs and Maintenance.

       

      6.1          Landlord’s Obligations.

       

        

       

        

      
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      6.1.1          Services by Landlord.  Beginning on the Commencement Date and continuing throughout the Term, Landlord shall supply, at Landlord’s cost and expense, water, gas, heat, light, power and sewage
          services to the Premises in amounts consistent with similarly-situated office buildings in the San Francisco Financial District (“Baseline Standard”). 
          Landlord shall at all times operate and maintain the Project (excluding the Premises only to the extent provided in Section 6.1.2 below) in accordance with the Baseline
          Standard.  Such operation and maintenance shall include, without limitation, repair, maintenance and required replacement of: (a) the  portions of the Project to which Tenant has rights to and which serve as access to the Premises; (b) the
          structural components and exterior components of the Premises, including, without limitation, exterior glass, exterior walls, foundation, and concrete slab; (c) the electrical (including emergency generators and switches), plumbing and other
          utility lines located outside the Premises or in the Project’s floors or foundation (whether exposed or unexposed); (d) the base building mechanical, electrical, fire, life safety, plumbing, vertical transportation system, sprinkler systems and
          HVAC systems; and (e) the roof, roof decking, membrane and covering, including periodic preventative maintenance.  Landlord’s obligations under this Section shall be at Landlord’s sole cost.

       

        

      6.1.2          Waiver by Tenant.  Landlord shall not be liable for any loss, injury or damage to property caused by or resulting from any variation, interruption, or failure of utilities due to any cause
          whatsoever, excepting only the gross negligence or willful misconduct of Landlord or the breach by Landlord of its obligations under Section 1.2 above with respect to the avoidance of Unreasonable Interference with the functioning of the [●].  Subject only to Section 16.16 below and the prior sentence, no temporary interruption or failure of such services due to accident, strike, or conditions or
          other similar events shall be deemed an eviction of Tenant or relieve Tenant from any of its obligations hereunder.  In no event shall Landlord be liable to Tenant for any damage to the Premises or for any loss, damage or injury to any property
          therein or thereon occasioned by bursting, rupture, leakage or overflow of any plumbing or other pipes (including, without limitation, water, steam, and/or refrigerant lines), sprinklers, tanks, drains, drinking fountains or washstands, or other
          similar cause in, above, upon or about the Premises or the Building, except to the extent the same results from the gross negligence or willful misconduct of Landlord or the breach by Landlord of its obligations under Section 1.2 above with
          respect to the avoidance of Unreasonable Interference with the functioning of the [●].

       

      6.1.3          No Representations by Landlord.  Landlord makes no representation with respect to the adequacy or fitness of the existing air‐conditioning or ventilation equipment in the Project to maintain
          temperatures which may be required for, or because of, any equipment of Tenant, and Landlord shall have no liability for loss or damage in connection therewith.  Tenant shall not, without Landlord’s prior written consent, use heat-generating
          machines, machines other than normal fractional horsepower office machines, equipment or lighting other than Building-Standard (as hereinafter defined) lights in the Premises, which may affect the temperature otherwise maintained by the air
          conditioning system or increase the water normally furnished for the Premises by Landlord pursuant to the terms of this Section 6.1.  If such consent is given, Landlord
          shall have the right to install supplementary air conditioning units or other facilities in the Premises, including supplementary or additional metering devices, and the cost thereof, including the cost of installation, operation and maintenance,
          increased wear and tear on existing equipment and other similar charges, shall be paid by Tenant to Landlord upon billing by Landlord.  Tenant shall not use water or heat or air conditioning in excess of that normally supplied by Landlord.  For
          the purposes hereof, the term “Building-Standard” shall mean the standards in existence as of the Commencement Date.

       

       

      

      
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      6.2          Tenant’s Obligations.  Tenant shall contract for and pay for all telephone and telecommunications services in the Premises.  There shall be no additional charge for Tenant’s usage of the elevator
          services or utilities required to be supplied by Landlord hereunder.  Except as specifically provided to the contrary in Section 6.1 of this Lease, Tenant shall keep
          the interior, non-structural portions of the Premises and portions of the building systems exclusively serving the Premises, including without limitation, interior walls, ceiling, plumbing, electrical wiring, and doors in good condition, order
          and repair and shall make all necessary repairs and replacements thereof, and shall provide or obtain, at its sole cost and expense, any Project maintenance and services (including, without limitation, utilities) above the Baseline Standard. 
          Tenant, at Tenant’s sole cost and expense, shall promptly replace all plate glass windows and other glass forming part of the Premises which are damaged or broken with glass of the same quality and strength.  Notwithstanding the foregoing,
          Landlord shall be responsible for the cost of repair of any damage caused by the gross negligence or willful misconduct of Landlord or any of its agents, contractors and employees.

       

      6.3          Inspection of Premises.  Landlord may, at reasonable times after at least twenty-four (24) hours prior written notice to Tenant (except in the case of an emergency, for which the notice requirement
          shall be reduced as reasonably appropriate and practicable), enter the Premises to repair the same; provided, however, upon request of Tenant, Landlord shall be accompanied by a representative of Tenant at all times during Landlord’s entry. 
          Landlord shall conduct such activities in a manner which does not result in Unreasonable Interference.  Notwithstanding the foregoing, in no event shall Landlord be permitted to enter any area maintained as a high security area in the ordinary
          course of Tenant’s business unless such entry is required in an emergency situation and Landlord shall use commercially reasonable efforts to be accompanied by a representative of Tenant during any emergency entry into any area clearly marked as
          a high-security area.  For purposes of the foregoing sentence a “high security area” shall mean areas of the Premises for which Tenant has imposed a higher level of secured access than the measures instituted to secure general access to the
          Premises or such Leased Space.

       

      6.4          Landlord Self-Help.  In the event Tenant is in default of its obligations under Section 6.1.2 above beyond any
          applicable notice and cure periods (except in an emergency, in which event no notice shall be required), then, in addition to all other remedies available hereunder or at law or in equity for Tenant’s default, Landlord may, but shall not be
          obligated to, enter the Premises, and perform or cause to be performed such repairs on behalf of and at the expense of Tenant.  Landlord may undertake on behalf of and at the expense of Tenant such emergency repairs as Landlord reasonably deems
          necessary.  All expenses so incurred by Landlord shall be repaid in the form of Additional Rent to be remitted with the next subsequent rent payment.

       

      7.          Alterations.

       

      7.1          Tenant Alterations.  Tenant may, at any time during the Term and at Tenant’s sole expense, make any improvements, alterations and additions to the Premises (collectively, “Alterations”); provided that Landlord’s consent shall be required for any Alterations (other than the installation of security systems serving the Premises) that (a) cost more
          than twenty-five thousand dollars ($25,000) on an individual basis or for a series of related Alterations, or (b) affect the building systems or structure. 
          In addition, without limiting Tenant’s rights as provided herein, Tenant may install or replace without Landlord’s consent such security systems within the Premises and such trade fixtures, furniture and equipment, upon, to or in the interior of
          the Premises as Tenant deems desirable for the conduct of its business.  Alterations shall be in a good workmanlike manner, in conformity with applicable building codes and without endangering the structural integrity or the value of the
          Premises.  Landlord shall receive no fee for supervision, profit, overhead or general conditions in connection with the Alterations.  Subject to Section 16.17, Tenant
          shall have the right, but shall not be required, to remove from the Premises at any time and from time to time, all or any part of its trade fixtures, furniture, equipment, initial improvements, Alterations and signs, provided that Tenant shall
          repair any damage to the Premises caused by such removal.

       

        

       

        

      
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      7.2          Mechanics Liens.  Tenant shall keep the Premises and the balance of the Project free and clear of any and all mechanic’s, materialmen’s and other liens for work or labor done, services performed,
          or materials, appliances, transportation or power contributed, used or furnished to be used, to or on the order of Tenant.  At all times Tenant shall promptly and fully pay and discharge any and all claims upon which any such lien may or could be
          based, and Tenant shall hold Landlord, the Premises, all buildings and improvements within which the Premises are located, and the balance of the Project, free and harmless from any and all such liens and claims of liens and suits or other
          proceedings arising out of work performed, or materials or services furnished, to or on the order of Tenant.  In the event that Tenant shall not, within ten (10) days following the imposition of any such lien, cause the lien to be released of
          record by payment or posting of a proper bond, Landlord shall have in addition to all other remedies provided herein and by law the right but not the obligation to cause same to be released by such means as it shall deem proper, including payment
          of the claim giving rise to such lien.  All such sums paid by Landlord and all expenses incurred by it in connection therewith (including, without limitation, attorneys’ fees) shall be payable to Landlord by Tenant upon demand.  Landlord shall
          have the right at all times to post and keep posted on the Premises any notices permitted or required by law or that Landlord shall deem proper for the protection of Landlord, the Premises and the Project, from mechanics’ and materialmen’s
          liens.  Tenant shall give to Landlord at least five (5) business days’ prior written notice of commencement of any Alterations, repair or construction on the Premises.

       

      8.          Use and Compliance With Laws.

       

      8.1          Permitted Use.  Tenant shall use the Premises only for the uses of each space as set forth in Exhibit A
          (“Permitted Use”), and for no other use or purpose.

       

      8.2          Prohibited Uses.  Tenant shall not use or permit the use of any portion of the Premises for any of the following uses (“Prohibited Uses”):  (i) any offensive, noisy or dangerous trade, business, manufacturing activity or occupation, including burning of trash, refuse or waste materials; (ii) any activity which constitutes a nuisance or violates
          public policy; (iii) any use that violates Law; (iv) for any sales or provision of services outside the exterior walls of the Premises; (v) fire sales or bankruptcy sales; (vi) any use that will materially increase the rate of fire and extended
          coverage insurance upon the Premises or the Project; (vii) any other use not compatible with the operation of a first-class commercial project.

       

        

       

        

      
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      8.3          Cessation of Operation.  Tenant shall not be required to continuously operate or to otherwise remain open for the conduct of business, provided Tenant shall pay all rent and other charges due and
          payable under this Lease and shall perform all other obligations of Tenant under this Lease during any period of cessation of business.

       

        

      8.4          Compliance With Laws.

       

      8.4.1          Tenant’s Obligations.  Tenant, at its cost and expense, shall promptly comply with all applicable laws, statutes, ordinances, orders, judgments, decrees, regulations, permit conditions, and
          requirements of all courts and all federal, state, county, municipal or other governmental or quasi-governmental authorities, departments, commissions, agencies and boards now or hereafter in effect, including, but not limited to, the Americans
          With Disabilities Act (42 U.S.C.  § 12101 et seq.) and Title 24 of the California Code of
          Regulations and all regulations and guidelines promulgated thereunder (collectively, “Applicable Laws”) applicable to the Premises and Tenant’s use or
          occupancy of, or business conducted in, the Premises, and shall maintain the Premises and all portions thereof in compliance with all Applicable Laws; provided, however, Tenant shall not be responsible for making any structural changes to the
          Premises unless such changes are necessitated by (i) Tenant’s specific manner of use or occupancy of the Premises, or the business conducted by Tenant therein, or (ii) any acts or omissions of Tenant or Tenant and Tenant’s agents, employees,
          contractors, tenants, subtenants, licensees, customers and invitees (collectively, “Tenant Parties”) (including any Alterations).  In addition, Tenant shall
          make all modifications to any portion of the Project outside the Premises (including whether structural or capital in nature), which are necessitated, in whole or in part, by (i) Tenant’s specific manner of use or occupancy of the Premises, or
          business conducted in, the Premises, or (ii) any acts or omissions of Tenant or any Tenant Parties or Tenant Parties (including any Alterations), or Landlord may elect to perform such modifications at Tenant’s expense.

       

      8.4.2          Landlord’s Obligations.  As between Landlord and Tenant, Landlord shall be responsible for compliance with all Applicable Laws relating to the Project (other than the Premises), provided that
          compliance with such Applicable Laws is not stated to be the responsibility of Tenant under this Lease.  Notwithstanding the foregoing, Landlord shall have the right to contest any alleged violation of any Applicable Laws in good faith,
          including, without limitation, the right to apply for and obtain a waiver or deferment of compliance, the right to assert any and all defenses allowed by Applicable Law and the right to appeal any decisions, judgments or rulings to the fullest
          extent permitted by law.  Landlord, after pursuing any appeals or contests as Landlord may so elect, will make at Landlord’s cost and expense, all repairs, additions, alterations or improvements necessary to comply with the terms of any final
          order or judgment.

       

      9.          Damage and Destruction.

       

      9.1          Repair Estimate.  If the Premises are damaged by fire, earthquake or other casualty (a “Casualty”), Landlord
          shall, promptly after such Casualty, deliver to Tenant a good faith estimate (the “Damage Notice”) of the time needed to repair the damage caused by such
          Casualty.

       

      9.2          Tenant’s and Landlord’s Rights to Terminate.  If the Premises is damaged by a Casualty such that Tenant is prevented from accessing the Premises or otherwise conducting its business in the Premises
          in a manner comparable to that conducted immediately before such Casualty and: (a) Landlord estimates that the damage caused cannot be repaired within thirty (30) days after the Damage Notice (or will not be repaired pursuant to Section 9.3), then Tenant may terminate this Lease by delivering written notice to Landlord of its election to terminate within thirty (30) days after the Damage Notice has
          been delivered to Tenant; or (b) Landlord estimates that the damage caused cannot be repaired within ninety (90) days after the Damage Notice, then Landlord may terminate this Lease by delivering written notice to Tenant of its election to
          terminate within thirty (30) days after the Damage Notice has been delivered to Tenant.  In addition, if such a Casualty described in this Section 9.2 occurs during the
          last six (6) months of the Term, either Landlord or Tenant may terminate this Lease by giving written notice of its election to terminate within thirty (30) days after the Damage Notice has been delivered to Tenant.

       

      
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      9.3          Repair Obligation.  If neither party elects to terminate this Lease following a Casualty, then Landlord shall, promptly after such Casualty, begin to repair the Premises and shall proceed with
          diligence to restore the Premises to substantially the same condition as they existed immediately before such Casualty; however, Landlord shall not be required to repair or replace any furniture, equipment, trade fixtures or personal property of
          Tenant or to undertake any repair if it was not required by the terms of this Lease to carry insurance covering such Casualty.

       

      9.4          Abatement of Rent.  If the Premises are damaged by Casualty, and provided that such Casualty was not the result of the negligence or willful misconduct of Tenant or any Tenant Parties, then Rent
          shall be abated for such part of the Premises rendered unusable by Tenant in the conduct of its business during the time such part is so unusable, in the proportion that the rentable area contained in the unusable part of the Premises bears to
          the total rentable area of the Premises.  If Tenant reasonably determines that continuation of business is not practical pending reconstruction, Rent due and payable hereunder shall abate until reconstruction is completed.

       

      10.          Eminent Domain.

       

      10.1          Total Condemnation.  If the whole of the Premises is acquired or condemned by eminent domain, inversely condemned or sold in lieu of condemnation, for any public or quasi-public use or purpose
          (collectively, “Condemned”), then this Lease shall terminate as of the date of title vesting in such proceeding, and Base Rent and Additional Rent shall be
          adjusted as of the date of such termination.  Landlord shall promptly notify Tenant of any such occurrence.

       

      10.2          Partial Condemnation.  If any part of the Premises is partially Condemned, and such partial condemnation renders the Premises unusable for the business of Tenant, as reasonably determined by
          Tenant, or in the event a substantial portion of the Premises is Condemned, as reasonably determined by Tenant, then this Lease shall terminate as of the date of title vesting in such proceeding and Base Rent and Additional Rent shall be adjusted
          to the date of termination.  If such condemnation is not sufficiently extensive to render the Premises unusable for the business of Tenant as reasonably determined by Tenant, or less than a substantial portion of the Premises is Condemned, then
          Landlord shall promptly restore the Premises to a condition comparable to its condition immediately prior to such condemnation less the portion thereof lost in such condemnation, and this Lease shall continue in full force and effect except that
          after the date of such title vesting the Base Rent and Additional Rent shall be reduced in proportion to the amount of the portion of the Premises that is not usable for Tenant’s use due to such condemnation.  Landlord shall not be required to
          expend funds in excess of the awards for such restoration.

       

        

      
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      10.3          Landlord’s Award.  If the Premises are wholly or partially Condemned, then Landlord shall be entitled to the entire award paid for such condemnation, and Tenant waives any right or claim to any
          part thereof from Landlord.  Tenant may obtain a separate award from the condemning authority so long as the award to Tenant does not diminish the award to Landlord.

       

      11.          Default.

       

      11.1          Events of Tenant Default.  The occurrence of any of the following events shall constitute an “Event of Default”
          on the part of Tenant:

       

      11.1.1          Payment.  Failure to pay any installment of Base Rent, Additional Rent or other amount due and payable by Tenant under this Lease, which failure continues for three (3) business days after written
          notice from Landlord to Tenant that said payment is overdue; provided, however, that Landlord shall be required to give notice to Tenant only once per twelve (12) month period and, thereafter, an Event of Default shall occur if the Base Rent,
          Additional Rent or other amount due and payable by Tenant is not paid within three (3) business days after the date the same is due; or

       

      11.1.2          Performance.  Material default in the performance of any of Tenant’s other covenants, agreements or obligations hereunder continuing for thirty (30) days after written notice thereof from Landlord
          to Tenant; provided that if the cure of any such default cannot reasonably be completed within such thirty (30) day period, there shall be no Event of Default so long as Tenant commences to cure such default within said thirty (30) day period,
          diligently prosecutes said cure to completion, and actually completes the cure within sixty (60) days after such written notice; or

       

      11.1.3          Bankruptcy.  A general assignment by Tenant for the benefit of creditors, the liquidation of Tenant, or any action or proceeding commenced by Tenant under any chapter of the Bankruptcy Act or any
          such action commenced against Tenant and not discharged within sixty (60) days after the date of commencement; or

       

      11.2          Landlord’s Remedies.  In the event of an Event of Default by Tenant, Landlord may, at its option, enforce the provisions of this Lease and protect the rights of Landlord hereunder by an action or
          actions at law or in equity, including without limitation actions for damages, declaratory relief, specific performance or injunctive relief, and, specifically including, without limitation, the following:

       

      11.2.1          Terminate this Lease and
          re-enter the Premises and take possession thereof and remove all persons therefrom, and Tenant shall have no further claim thereon or hereunder; or

       

      11.2.2          Without terminating this Lease,
          re-enter the Premises and occupy the whole or any part thereof for and on account of Tenant in which event Landlord shall have the remedy described in California Civil Code Section 1951.4 (Landlord may continue this Lease in effect after Tenant’s
          breach and recover rent as it becomes due, if Tenant has the right to sublet or assign, subject only to reasonable limitations); and

       

        

      
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      11.2.3          Even though Landlord may have
          re-entered the Premises without terminating this Lease, Landlord may thereafter elect to terminate this Lease and all of the rights of Tenant in or to the Premises.

       

      If Landlord re-enters the Premises under the provisions of Section 11.2.2
        above, Landlord shall not be deemed to have terminated this Lease, or the liability of Tenant to pay rent thereafter to accrue, or its liability for damages under any of the provisions hereof, by any such re-entry or by any action in unlawful
        detainer, or otherwise, to obtain possession of the Premises, unless Landlord notifies Tenant in writing that it has so elected to terminate this Lease, and the service by Landlord of any notice pursuant to the unlawful detainer statutes of the
        State and the surrender of possession pursuant to such notice shall not (unless Landlord elects to the contrary at the time or at any time subsequent to the serving of such notices and such election be evidenced by a written notice to tenant) be
        deemed to be a termination of this Lease.  In the event of any entry or taking possession of the Premises as aforesaid, Landlord shall have the right, but not the obligation, to remove therefrom all or any part of the personal property located
        therein and may place the same in storage at a public warehouse at the expense and risk of Tenant.

       

      If Landlord re-enters as provided above and does not elect to terminate this Lease, then Landlord may from time to time, without terminating this
        Lease, either recover all rental as it becomes due or relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord deems advisable.  If Landlord elects to so relet,
        then rentals received by Landlord from such reletting shall be applied first, to the payment of any cost of such reletting; second, to the payment of the cost of any required alterations and repairs to the Premises; third, to the payment of any
        indebtedness other than Base Rent and Additional Rent owed by Tenant to Landlord; and fourth, to the payment of Base Rent and Additional Rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of
        future rent as the same becomes due and payable hereunder.  Should the portion of such rentals received from such reletting during any month which is applied to the payment of rent hereunder, be less than the rent payable during that month by
        Tenant hereunder, then Tenant shall pay such deficiency to Landlord.  Such deficiency shall be calculated and paid monthly.

       

      If Landlord elects to terminate this Lease under the above provisions of this Section 11.2,
        Landlord may recover from Tenant as damages:

       

      (a)          the worth at the time of award of
          any unpaid rent which has been earned at the time of such termination; plus

       

      (b)          the worth at the time of award of
          the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves could have been reasonably avoided; plus

       

        

      
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      (c)          the worth at the time of award of
          the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus

       

      (d)          any other amount necessary to
          compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to any costs or
          expenses incurred by Landlord in maintaining or preserving the Premises after such default, preparing the Premises for such reletting, leasing commissions, or any other costs necessary or appropriate to relet the Premises; plus

       

      (e)          at Landlord’s election, such other
          amounts in addition to or in lieu of the foregoing as is permitted from time to time under State law.

       

      As used in subsections (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the Interest Rate.  As used in
        subsection (c) above, the “worth at the time of award” is computed by discounting such amount at the then existing discount rate of the Federal Reserve Bank, San Francisco, California, plus one percent (1%).

       

      11.3          Landlord’s Default.  The occurrence of any of the following events shall constitute an “Event of Default” on
          the part of Landlord:

       

      11.3.1          Payment.  Failure to pay any amount due and payable by Landlord under this Lease, which failure continues for ten (10) days after written notice from Tenant to Landlord that said payment is
          overdue; or

       

      11.3.2          Performance.  Material default in the performance of any of Landlord’s other covenants, agreements or obligations hereunder continuing for thirty (30) days after written notice thereof from Tenant
          to Landlord; provided that if the cure of any such default cannot reasonably be completed within such thirty (30) day period, there shall be no Event of Default so long as Landlord commences to cure such default within said thirty (30) day period
          and diligently prosecutes said cure to completion.

       

      11.4          Tenant’s Remedies.

       

      11.4.1          Tenant’s Remedies.  In the event of an Event of Default by Landlord, Tenant may enforce the provisions of this Lease and protect the rights of Tenant hereunder by an action or actions at law or in
          equity, including without limitation actions for damages, declaratory relief, specific performance or injunctive relief.  Tenant shall not have the right based on such Event of Default to terminate this Lease or to withhold, offset or abate rent,
          unless pursuant to an express provision in this Lease.

       

      11.4.2          Tenant’s Self-Help.  If Landlord shall default in the observance or performance of its obligations under Section 6.1,
          and if Tenant’s ability to use and occupy the Premises is materially impaired as a result thereof, and such failure continues for thirty (30) days after written notice thereof to Landlord (such period shall be extended if Landlord is using good
          faith, diligent and commercially reasonable efforts to remedy such default) or such shorter period, if any, as Tenant may reasonably determine to be appropriate in case of an emergency involving an imminent threat to life or property, then,
          except in the event of such an emergency, Tenant shall deliver a second notice to Landlord (such written notice to expressly state Tenant’s intention to exercise its rights under this Section 11.4.2), and if Landlord does not commence required repairs or commence such other actions within ten (10) business days thereafter as required to remedy such default, then Tenant, without being under any
          obligation to do so and without thereby waiving such default, may remedy such default on behalf of Landlord.  Promptly following completion of any work undertaken by Tenant pursuant to this Section, Tenant shall deliver a detailed invoice of the
          work completed, the materials used and the reasonable costs relating thereto, an assignment of any and all warranties relating to such work, and an unconditional final lien waiver and release regarding such work.  If Landlord does not deliver a
          detailed written objection to Tenant within thirty (30) days after receipt of such invoice and documentation from Tenant, then Tenant shall be entitled to deduct from Rent payable by Tenant under this Lease, or seek reimbursement from Landlord,
          the amount set forth in such invoice, commencing with the Rent first due and payable at least forty-five (45) days after Tenant’s delivery of such invoice.  If, however, Landlord delivers to Tenant, within thirty (30) days after delivery of
          Tenant’s invoice, a written objection to the payment of such invoice, setting forth with reasonable detail Landlord’s good faith reasons for its claim that such action did not have to be taken by Tenant pursuant to this Lease or that the charges
          are unreasonable (in which case Landlord shall pay the amount it contends would have been reasonable), then Tenant shall not then be entitled to such deduction from Rent, or reimbursement by Landlord, but, rather, such dispute shall be resolved
          by arbitration in accordance with the provisions of Section 16.21 hereof.

       

        

       

        

      
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      11.5          Exculpation.

       

      11.5.1          Landlord.  In the event that Landlord is liable to Tenant for damage sustained by Tenant as a result of Landlord’s breach, it is expressly understood and agreed that any money judgment resulting
          from any default or other claim arising under this Lease shall be satisfied only out of Landlord’s interest in the Project, and no other property of Landlord shall be subject to levy on any such judgment obtained against Landlord.  For purposes
          of this Section 11.5 only, the term “Landlord” means any and all partners, both general or limited, or both, if any, which comprise Landlord.

       

      11.5.2          Tenant.  Landlord shall look solely to Tenant for any default by Tenant under this Lease or for the recovery of any judgment arising in connection herewith or with Tenant’s operation, repair,
          alteration of the Premises or any other matter relating to the Premises.  None of the Tenant Parties shall have any personal liability therefor, and Landlord hereby expressly waives and releases such personal liability on behalf of itself and all
          persons claiming by, through or under Landlord.  The limitations of liability contained in this Section 11.5 shall inure to the benefit of Tenant and the Tenant Parties’ present and future partners, beneficiaries, officers, directors, trustees,
          shareholders, agents and employees, and their respective partners, heirs, successors and assigns.  Under no circumstances shall any present or future partner of Tenant (if Tenant is a partnership), or trustee or beneficiary (if Tenant or any
          partner of Tenant is a trust), have any liability for the performance of Tenant obligations under this Lease.

       

        

       

        

      
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      12.          Assignment and Subletting.

       

      12.1          Landlord’s Consent.  Except as permitted in Section 12.2 below, Tenant shall not assign this Lease or sublet the
          Premises (or any portion thereof) (each, a “Transfer”) to any party (a “Transferee”)

          without Landlord’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed.  Landlord shall deliver notice to Tenant indicating whether or not Landlord consents to a proposed Transfer within thirty (30)
          days after any written request by Tenant for Landlord’s consent thereto; provided, however, if Landlord does not respond to Tenant’s request for consent within such thirty (30) day period, Landlord shall be deemed to have consented to Tenant’s
          Transfer.

       

      12.2          Permitted Transfers.

       

      12.2.1          Notwithstanding the provisions
          of Section 12.1 above, the provisions of this Article 12 shall not apply to (i) the transfer of stock in Tenant so long as Tenant’s parent is a publicly traded corporation, the stock of which is listed on a national stock exchange or over the
          counter stock exchange, or (ii) the issuance of stock in Tenant or Tenant’s parent in a public offering or pursuant to the terms of a confirmed Chapter 11 plan of reorganization or (iii) transfers of equity interests in Tenant.

       

      12.2.2          Notwithstanding anything to the
          contrary contained in this Lease, Landlord’s consent shall not be required in connection with any assignment, sublease or shared occupancy to or with: (i) an entity which controls, is controlled by, or is under common control with Tenant; (ii) an
          entity into or with which Tenant is merged or consolidated; (iii) an entity which acquires all or substantially all of the assets of Tenant; (iv) an entity which acquires control of Tenant, or (v) any successor entity to Tenant by way of merger,
          consolidation or other corporate reorganization of Tenant, including a so-called spin off; provided that the (1) the proposed transferee’s use of the Premises shall be the Permitted Use; and (2) in the case of an assignment, Tenant shall deliver
          to Landlord, within thirty (30) days after the effective date of the assignment, an agreement evidencing the assignment and assumption by the assignee of Tenant’s obligations under this Lease.  With respect to any transfer meeting the conditions
          set forth in Section 12.2.1 or this Section 12.2.2, such transfer shall be a “Permitted Transfer” and the resultant transferee shall be a “Permitted Transferee”.  Each Permitted Transferee shall be entitled to all options, signage and other rights and privileges granted by Landlord to Tenant under
          this Lease as if such Permitted Transferee were the original Tenant hereunder.

       

      12.3          Terms of Transfer.  Any Transfer shall be subject to all of the terms, covenants and conditions of this Lease.  Notwithstanding any Transfer, Tenant shall remain fully and primarily liable for all
          obligations of Tenant under this Lease, except to the extent otherwise agreed by Landlord in writing.  The acceptance of any rent or other sum due hereunder, or the acceptance of performance of any term, covenant, or condition hereof, from any
          other person or entity shall not be deemed to be a waiver of any of the provisions of this Lease or a consent to any Transfer.  Consent to one Transfer shall not be deemed a consent to any subsequent Transfer.  If any Transferee of Tenant
          defaults under this Lease, Landlord may proceed directly against Tenant without pursuing any rights or remedies against any such Transferee.  Each Transferee acquiring Tenant’s interest in this Lease shall be conclusively deemed, without the
          necessity of any further agreement, and for the express benefit of Landlord, to have assumed all of the obligations of Tenant under this Lease, and to have agreed to be bound by, and obligated to perform, each and all of the covenants, agreements
          and obligations of Tenant under this Lease.  Each such Transferee shall, upon the request of Landlord, execute and deliver to Landlord such documents as are reasonable required to further evidence the foregoing assumption and agreement.  Tenant
          shall reimburse Landlord for Landlord’s reasonable attorneys’ fees not to exceed $1,500 incurred in conjunction with the processing and documentation of any Transfer requiring Landlord’s consent.

       

        

      
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      13.          Estoppel Certificate; Attornment and Subordination; Quiet Enjoyment.

       

      13.1          Estoppel Certificate.  Within twenty (20) days after request therefor by either party, the other party shall execute, acknowledge and deliver to the requesting party a reasonable estoppel
          certificate certifying that this Lease is unmodified and in full force and effect and that the other party is not in default (or stating how any of the foregoing is not true) and certifying the dates to which rental or other sums due hereunder
          have been paid in advance.

       

      13.2          Attornment.  In the event of any foreclosure or deed in lieu of foreclosure under any mortgage or deed of trust encumbering the Premises or the Project, or any part thereof, or in the event of a
          termination of a ground lease, if any, Tenant shall, if so requested, attorn to the purchaser, grantee or ground lessor (collectively, “Successor”) and
          recognize such Successor as the Landlord under this Lease; provided, however, that Tenant’s obligation to so attorn to any Successor is expressly conditioned upon Tenant’s prior receipt from such Successor of a commercially reasonable
          nondisturbance agreement whereby the Successor agrees that so long as Tenant pays the rent due and performs all other obligations under this Lease, Tenant’s occupancy of the Premises shall not be disturbed (a “Nondisturbance Agreement”).

       

      13.3          Subordination.  The rights of Tenant hereunder are and shall be, at the election of the mortgagee (a “Mortgagee”),

          subject and subordinate to the lien of any mortgage, deed of trust or other method of financing in force against the Premises and/or Project as of the Commencement Date (“Mortgage”), and to all advances made upon the security thereof, provided that, a condition precedent to Tenant’s foregoing agreement to subordinate this Lease shall be that Tenant receives a Nondisturbance Agreement.  Tenant
          further agrees to enter into a Nondisturbance Agreement with any future holder of a Mortgage upon reasonable request.

       

      13.4          Quiet Enjoyment.  Landlord covenants with Tenant that so long as no Event of Default on the part of Tenant has occurred hereunder, Tenant shall and may peaceably and quietly have, hold and enjoy
          the Premises and the nonexclusive use of the common areas and the other portions of the Project as set forth in Exhibit B and Exhibit

              C for the Term or applicable portion thereof, and that neither Landlord nor any party claiming under or through Landlord shall disturb such use or the occupancy by Tenant, and Landlord shall defend Tenant’s right to such use and
          occupancy.

       

      14.          Brokerage Commission.  Landlord and Tenant each represents and warrants to the other that no broker or finder, including, without limitation, CBRE, Inc., a Delaware corporation, can properly claim
          a right to a commission or a finder’s fee based upon contacts between the claimant and the representing party with respect to this Lease or the Premises.  Landlord and Tenant shall each indemnify, defend (with counsel reasonably acceptable to the
          indemnified party) and hold the other party harmless from and against any loss, cost or expense, including, but not limited to, attorneys’ fees and court costs, resulting from any claim for a fee or commission by any broker or finder claiming
          through the indemnifying party in connection with the Premises or this Lease.

       

        

       

        

      
        17

        
          

      

       

      15.          Environmental Matters.

       

      15.1          Landlord Indemnity.  Landlord agrees to indemnify and hold harmless Tenant from any and all claims, damages, fines, judgments, penalties, costs, liabilities, or losses (including, without
          limitation, any and all sums paid for settlement of claims, attorneys’ fees, consultant and expert fees, any and all costs incurred due to any investigation of the site or any cleanup, removal, or restoration mandated by a federal, state, or
          local agency or political subdivision) arising during or after the Term from or in connection with the presence or suspected presence of Hazardous Materials in or on the Project, which are present solely as a result of the acts or omissions of
          Landlord, Landlord’s agents, employees, or contractors.  This indemnification shall specifically include any and all costs due to Hazardous Materials that flow, diffuse, migrate, or percolate into, onto or under the Project after the Term
          commences, except to the extent the foregoing was the result of the gross negligence or willful misconduct of Tenant or its agents or was proportionately caused, exacerbated or permitted by Tenant or its agents or contractors.

       

      15.2          Tenant Indemnity.  Tenant agrees to indemnify and hold harmless Landlord from any and all claims, damages, fines, judgments, penalties, costs, liabilities, or losses (including, without limitation,
          any and all sums paid for settlement of claims, attorneys’ fees, consultant and expert fees, any and all costs incurred due to any investigation of the site or any cleanup, removal, or restoration mandated by a federal, state, or local agency or
          political subdivision) arising during or after the Term from or in connection with the presence or suspected presence of Hazardous Materials in or on the Project, which are present solely as a result of the acts or omissions of Tenant, Tenant’s
          agents, employees, or contractors during and after the Term, except to the extent the foregoing was the result of the gross negligence or willful misconduct of Landlord or its agents or was proportionately caused, exacerbated or permitted by
          Landlord or its agents or contractors.

       

      15.3          Compliance with Environmental Laws.  If Landlord shall commence the redevelopment or reconstruction of the Project during the Term, then Landlord shall comply with all Environmental Laws (defined
          below) relating to industrial hygiene, environmental protection, and the use, analysis, generation, emission, manufacture, storage, disposal or transportation of any Hazardous Material in, on, under or about the Project, in connection with such
          redevelopment or reconstruction.  Tenant shall at all times and in all respects comply with all Environmental Laws relating to industrial hygiene, environmental protection, and the use, analysis, generation, emission, manufacture, storage,
          disposal or transportation of any Hazardous Materials in, on, under or about the Premises except for the use of general office supplies within the Premises of a kind typically used in normal office areas in the ordinary course of business (such
          as copier toner, correction fluid, glue, ink and cleaning solvents) that are at all times and in all respects used, maintained and stored in accordance with all Environmental Laws (defined below).  As used in this Lease, the term “Environmental Laws” means applicable federal, state or local laws, ordinances or regulations relating to any Hazardous Material affecting the Premises, whether
          in effect as of the date hereof or hereafter enacted including, without limitation, Proposition 65 of the State of California, California Assembly Bill 3713 and the laws, ordinances and regulations referred to above and the term and  “Hazardous Materials” shall mean those substances included within the definitions of “hazardous substances,” “hazardous materials,” “toxic substances” “solid
          waste” or “infectious waste” under Environmental Laws, including, without limitation, asbestos, chlorinated solvents and petroleum products.

       

        

      
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      16.          General Provisions.

       

      16.1          Holding Over.  If Tenant remains in possession of the Premises after the expiration of the Term, or any earlier termination of this Lease with the consent of Landlord (any such portion of the
          Premises being the “Holdover Premises”), Tenant shall be deemed to be occupying the Holdover Premises as a month-to-month tenant, at a monthly rental equal
          to three hundred percent (300%) of the rent payable during the last month of the Term.  If Tenant holds over after the expiration of the Term or any earlier termination of this Lease without the consent of Landlord, Tenant shall become a tenant
          at sufferance only, with Base Rent for the Holdover Premises equal to three hundred percent (300%) of the Base Rent in effect for such Holdover Premises immediately prior to such expiration or termination, and otherwise subject to the terms,
          covenants, and conditions specified in this Lease.  Acceptance by Landlord of rent after any written demand by Landlord to surrender the Holdover Premises shall not result in a renewal of this Lease or waiver of any default or circumstances of
          termination.

       

      16.2          Mutual Consequential Damages Waiver.  Notwithstanding anything to the contrary contained in this Lease, nothing in this Lease shall impose any obligations on Tenant or Landlord to be responsible or
          liable for, and each hereby releases the other from all liability for, consequential damages.

       

      16.3          Notices.  All notices required to be given hereunder shall be in writing and mailed postage prepaid by certified or registered mail or licensed courier service, return receipt requested, or by
          personal delivery, to the appropriate address(es) indicated in this Section 16.3, or at such other place or places as either Landlord or Tenant may, from time to time,
          designate in a written notice given to the other.  Notices shall be deemed sufficiently served three (3) days after the date of mailing thereof, or upon personal delivery.  The addresses for proper notice under this Lease are as follows:

       

      
        	 	
                If to Landlord: 

                

                 

                

              	 
	 	 	 	 
	 	 	 	 
	 	

              	

              	

              
	 	

              	

              	

              
	 	 	
                With a copy to:

                 

                

              	 
	 	

              	

              	

              
	 	

              	

              	

              
	 	

              	

              	

              
	 	

              	

              	

              
	
                 

              	
                 

                

                If to Tenant:

                 

                

              	 
	 	 	 	 
	 	 	
                Pacific Gas and Electric Company

                Corporate Real Estate Transactions Dept.

                Pacific Gas and Electric Company

                P.O.  Box 770000, Mail Code N131

                San Francisco, CA 94177

              	 

        

        

        
          19

          
            

        

        

        

        	 	 	 	 
	 	 	
                OR

                

                

                245 Market Street, Room 1377

                San Francisco, CA 94105

                Attention: Tara Agid

                Email: TLHc@pge.com

                

                

                With a copy to:

                

                

                Law Department

                Pacific Gas and Electric Company

                P.O.  Box 7442

                San Francisco, CA 94120

                Attn: Wendy Coleman, Esq.

                

                

                OR

                

                

                77 Beale Street, Mail Code B30A

                San Francisco, CA 94105

                Attn: Wendy Coleman, Esq.

                Email: wtc7@pge.com

                

                

                with a copy to:

                

                

                Pillsbury Winthrop Shaw Pittman LLP

                Four Embarcadero Center, Suite 2200

                San Francisco, California 94111

                Attention:  Rachel B. Horsch, Esq.

                Telephone No.:  (415) 983-1193

                Facsimile No.:  (415) 983-1200

                Email: rachel.horsch@pillsburylaw.com

              	 
	 	 	 	 

      

      16.4          Successors Bound.  This Lease and each of its covenants and conditions shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, successors and assigns,
          subject to the provisions hereof.  Whenever in this Lease a reference is made to Landlord or Tenant, such reference shall be deemed to refer to the person in whom the interest of Landlord or Tenant shall be vested.  Any successor or assignee of
          Landlord or Tenant who accepts an assignment or the benefit of this Lease and enters into possession or enjoyment hereunder shall thereby assume and agree to perform and be bound by the covenants and conditions thereof.

       

        

      
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      16.5          Waiver.  No waiver of any default or breach of any covenant by either party hereunder shall be implied from any omission by either party to take action on account of such default if such default
          persists or is repeated, and no express waiver shall affect any default other than the default specified in the waiver.  Waivers of any covenant, term or condition contained herein by either party shall not be construed as a waiver of any
          subsequent breach of the same covenant, term or condition.  The consent or approval by either party to or of any act by either party requiring further consent or approval shall not be deemed to waive or render unnecessary its consent or approval
          to or of any subsequent similar acts.  No waiver of any provision of this Lease shall be binding unless evidenced by a writing signed by the parties hereto.

       

      16.6          Time.  Time is of the essence of every provision hereof.  If any date set forth for the performance of any obligation or for the delivery of any instrument or notice should be on a Saturday, Sunday
          or legal holiday, compliance with such obligations or delivery shall be deemed acceptable on the next business day following such Saturday, Sunday or legal holiday.  As used herein, the term “legal holiday” means any state or federal holiday for which Tenant is closed for observance thereof.  Except as expressly provided to the contrary in this Lease, all references to days shall mean calendar
          days.

       

      16.7          Attorneys’ Fees.  In any action or proceeding by Landlord or Tenant to enforce its rights hereunder, the unsuccessful party therein shall pay all costs incurred by the prevailing party therein,
          including reasonable attorneys’ fees, to be fixed by the court, and said costs and attorneys’ fees shall be made a part of the judgment in said action.

       

      16.8          Construction.  This Lease shall not be construed more strictly against one party than against the other merely by virtue of the fact that it may have been prepared by counsel for one of the
          parties, it being recognized that both Landlord and Tenant have been independently represented and have contributed substantially and materially to the preparation of this Lease.  The captions and section numbers appearing in this Lease are
          inserted only as a matter of convenience and in no way define, limit, construe or describe the scope or intent of such sections of this Lease nor in any way affect this Lease.

       

      16.9          Severability.  If any term, covenant, condition or provision of this Lease, or the application thereof to any person or circumstance, shall to any extent be held by a court of competent
          jurisdiction to be invalid, void or unenforceable, the remainder of the terms, covenants, conditions or provisions of this Lease, or the application thereof to any person or circumstance, shall remain in full force and effect and shall in no way
          be affected, impaired or invalidated.

       

      16.10          Applicable Law.  This Lease, and the rights and obligations of the parties hereto, shall be construed and enforced in accordance with the laws of the State of California.

       

      16.11          Consent.  Except as otherwise expressly provided in this Lease, whenever either party’s consent or approval is required under the terms of this Lease, such consent or approval shall not be
          unreasonably withheld, conditioned or delayed.  If either party withholds its consent or approval, then such failure to consent or approve shall only be effective if accompanied by the reasons for failing to consent or approve.

       

        

      
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      16.12          Agreements in Writing.  It is expressly agreed that there are no oral agreements between the parties hereto, nor any agent, employee or representative acting or purporting to act on behalf of
          either of the parties hereto, affecting this Lease, and that this Lease supersedes and cancels any and all previous negotiations, arrangements, brochures, agreements and understandings, if any, between the parties hereto.  It is further agreed by
          and between the parties hereto that there shall be no modification or amendment of this Lease except as executed in writing between the parties hereto.

       

      16.13          Authority.  Each individual executing this Lease on behalf of Landlord or Tenant represents and warrants that he or she is duly authorized to execute and deliver this Lease on behalf of the party
          for whom he or she is signing, and that this Lease is binding upon the party for whom he or she is signing in accordance with its terms.

       

      16.14          Sale of Premises.  The term “Landlord” as used in this Lease shall mean the owner of Landlord’s interest and
          estate in and to the Premises or any property of which the Premises are a part.  If Landlord’s interest and estate in and to the Premises is transferred by Landlord, Landlord shall be entirely freed, relieved and discharged of all liabilities and
          obligations under this Lease to the extent arising after the date of such transfer, and the transferee shall conclusively be deemed, without the necessity of any further agreement or acknowledgement from the transferee, to have assumed all
          covenants, agreements, obligations and liabilities of Landlord arising under this Lease at any time after such transfer.  Landlord shall deliver to Landlord’s transferee all funds previously paid by Tenant to the extent such funds have not been
          applied under the terms of this Lease.

       

      16.15          Force Majeure.  If either party cannot perform any of its obligations under
              this Lease (excluding the obligation to pay Rent) due to events beyond such party’s control, the time provided for such party performing such obligations shall be extended by a period of time equal to the delay caused by such events.  Events
              beyond a party’s control include, but are not limited to, pandemics, acts of the other party, strikes, threats of strikes, blackouts, war, threats of war, bombing, labor disputes, shortages of labor or material, insurrection, invasion,
              epidemic, acts of God, calamities, civil commotions, weather conditions, fire, flood or other casualty, action or regulation of any governmental authority, state law or ordinances, and impossibility of obtaining materials.  Events beyond a
              party’s control shall in no event include financial inability.

       

      16.16          Indemnification; Hold Harmless.  Landlord shall not be liable, responsible, or in any way accountable to Tenant, or any of Tenant’s agents, employees or contractors, or any person whomever, for any
          loss, theft or destruction of or damage to the Premises, or to any goods, wares, merchandise, fixtures or other property stored, kept, maintained, or displayed in, on or about the Premises, nor for injury to or death of any person or persons who
          may at any time be using, occupying or visiting the Premises or the Project, regardless of the nature or cause of such injury, damage or destruction, except to the extent resulting from the gross negligence or willful misconduct of Landlord or
          the breach of this Lease by Landlord.

       

      Tenant shall indemnify, defend and hold harmless Landlord and its agents and employees from and against any and all costs and expenses (including,
        without limitation, reasonable attorneys’ fees), liabilities, penalties, damages and claims for damage to or loss of property (including Tenant’s property) or injury to or death of persons, to the extent resulting from (i) the use of the Premises
        or the Project by Tenant or Tenant’s agents, employees or representatives, or from any activity done, permitted or suffered by Tenant or Tenant’s agents, employees or representatives in or about the Premises or the Project, (ii) any act, neglect,
        fault, willful misconduct or omission of Tenant or Tenant’s agents, employees or representatives, or (iii) any default or breach of any express covenant or warranty by Tenant under the terms of this Lease; except to the extent resulting from the
        gross negligence, willful misconduct or breach of this Lease by Landlord.

       

      

       

      

      
        22

        
          

      

       

      Landlord shall indemnify, defend and hold harmless Tenant and its agents and employees from and against any and all costs and expenses (including,
        without limitation, reasonable attorneys’ fees), liabilities, penalties, damages and claims for damage to or loss of property (including Tenant’s property) or injury to or death of persons, to the extent resulting from any gross negligence or
        willful act of Landlord; except to the extent resulting from the negligence, willful misconduct or breach of this Lease by Tenant.

       

      16.17          Surrender of Possession.  Tenant agrees that on the last day of the Term, or on the sooner termination of this Lease, Tenant shall surrender the Premises to Landlord in at least the same condition
          as such premises were on the Commencement Date (damage by acts of God, fire, condemnation, and normal wear and tear excepted).  Normal wear and tear shall not include any damage or deterioration that would have been prevented by proper
          maintenance by Tenant or Tenant otherwise performing all of its obligations under this Lease.  On or before the expiration or sooner termination of this Lease, (i) Tenant shall remove all of Tenant’s personal property, furniture, furnishings,
          trade or business fixtures and equipment and Tenant’s signage from the Premises and the Project and repair any damage caused by such removal, and (ii) Landlord may, by notice to Tenant, require Tenant at Tenant’s expense to remove Tenant’s any or
          all Alterations constructed and installed by Tenant during the Term, and to repair any damage caused by such removal; provided that Tenant shall have the right but not the obligation to remove any office alterations (other than Alterations
          constructed during the Term), betterments, improvements or attached trade fixtures, including cubicles or other such non-flexible furniture, generators, equipment, roof systems, cablings, safe deposit boxes, vault, wires, cabling or
          telecommunications or security systems; provided that if Tenant removes any such items it shall repair any damage cause by such removal.  Any of Tenant’s property not so removed by Tenant as required herein shall be deemed abandoned and may be
          stored, removed, and disposed of by Landlord at Tenant’s expense, and Tenant waives all claims against Landlord for any damages resulting from Landlord’s retention and disposition of such property; provided, however, that Tenant shall remain
          liable to Landlord for all costs incurred in storing and disposing of such abandoned property of Tenant.  If the Premises are not surrendered at the end of the Term or sooner termination of this Lease, and in accordance with the provisions of
          this Section 16.17, Tenant shall continue to be responsible for the payment of Rent until the Premises are so surrendered, and Tenant shall indemnify, defend and hold Landlord harmless from and against any and all loss or liability resulting from
          delay by Tenant in so surrendering the Premises.

       

      16.18          OFAC Certification of Landlord.  As an inducement to Tenant to enter into this Lease, Landlord hereby represents and warrants that: (i) Landlord is not, nor is it owned or controlled directly or
          indirectly by, any person, group, entity or nation named on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets Control of the United States Treasury (“OFAC”) (any such person, group, entity or nation being hereinafter referred to as a “Prohibited Person”);
          (ii) Landlord is not (nor is it owned or controlled, directly or indirectly by, any person, group, entity or nation which is) acting directly or indirectly for or on behalf of any Prohibited Person; and (iii) Landlord (and any person, group, or
          entity which Landlord controls, directly or indirectly) has not conducted nor will conduct business nor has engaged nor will engage in any transaction or dealing with any Prohibited Person that either may cause or causes Tenant to be in violation
          of any OFAC rule or regulation, including without limitation any assignment of this Lease.

       

      
        23

        
          

      

       

      

      16.19          OFAC Certification of Tenant.  As an inducement to Landlord to enter into this Lease, Tenant hereby represents and warrants that to the knowledge of Tenant:  (i) Tenant, as well as any director,
          officer, agent, or employee of Tenant, is a Prohibited Person; and (ii) Tenant is not in violation of any OFAC rule or regulation in any material respect.

       

      16.20          Counterparts.  Each party hereto has (i) agreed to permit the use, from time to time, of telecopied signatures in order to expedite the transaction contemplated by this Lease, (ii) intends to be
          bound by its telecopied signature, (iii) is aware that the other parties will rely on the telecopied signature, and (iv) and acknowledges such reliance and waives any defenses (other than fraud) to the enforcement of the document based on the
          fact that a signature was sent by telecopy.  As used in this Section, the term “telecopied signature” shall include any signature sent via facsimile or other electronic format (including, without limitation, “.pdf”, “.tif” or “.jpg”) and other
          electronic signatures (including, without limitation, DocuSign and AdobeSign).  This Lease may be executed in several counterparts each of which shall be deemed an original but such counterparts, when taken together, shall constitute one
          agreement.

       

      16.21          Mandatory Negotiation and
            Mediation. Except as provided in Section 16.21.2 below, Landlord and Tenant agree to first negotiate and then mediate with respect to any claim or dispute arising out of
          or relating to this Lease, before resorting to court action.  Either party may initiate settlement negotiations by providing written notice to the other party, setting forth the subject of the claim or dispute.  Landlord and Tenant agree to
          cooperate in scheduling negotiations and to participate in the settlement negotiations in good faith.  If Landlord and Tenant fail to settle such claim or dispute within thirty (30) days after the date of mailing of the notice initiating
          settlement negotiations or within such additional time period as the parties may agree in writing, the parties agree to submit the matter to JAMS for mediation.  Either party may commence mediation by providing to JAMS and the other party a
          written request for mediation, setting forth the subject of the claim or dispute and the relief requested.  Except as provided herein or by written Lease of the parties, the mediation shall be conducted in San Francisco pursuant to the JAMS
          rules.  The parties will cooperate in selecting a mediator from the JAMS panel of neutrals, and in scheduling the mediation proceedings.  The parties agree to participate in the mediation in good faith, and to share equally in its costs.  All
          offers, promises, conduct and statements, whether oral or written, made in the course of the mediation by either of the parties, their employees, agents, experts and attorneys, and by the mediator and any other JAMS employees, are confidential,
          privileged and inadmissible for any purpose, including impeachment, in any litigation or other proceeding involving the parties, but evidence that is otherwise admissible or discoverable shall not be rendered inadmissible or non-discoverable as a
          result of its use in the mediation.  If JAMS should no longer exist at the time the claim or dispute arises, the matter shall be submitted to its successor entity, or if there is no such successor entity, to the American Arbitration Association
          or other similar organization mutually agreed upon by the parties, and except as provided herein or by mutual Lease of the parties, the mediation rules of such successor or alternate organization shall apply.  Except as may be expressly set forth
          in any written settlement agreement, should the matter be settled by negotiation or mediation prior to commencing court action, each party shall pay its own attorneys’ fees and costs.  Except as provided in Section 16.21.2, neither party may
          commence an action arising out of or relating to this Lease until expiration of the negotiation period and completion of the initial mediation session in accordance with this Section 16.21.  If either party commences an action with respect to a
          claim or dispute covered by this Section 16.21 without first attempting to resolve the matter through negotiation and mediation, or refuses to negotiate or mediate after a request has been made, then that party shall not be entitled to recover
          attorneys’ fees and costs, even if such fees and costs would otherwise be available to that party in such action. 

       

      
        24

        
          

      

       

      

      16.21.2          Either party may seek
          equitable relief to preserve the status quo prior to participating in the negotiation and mediation proceedings required pursuant to this Section 16.21.  In addition, the following matters are excluded from mandatory negotiation and mediation
          hereunder: (i) an unlawful detainer action based upon a monetary Event of Default; and (ii) any matter that is within the jurisdiction of probate, small claims, or bankruptcy court.

       

      16.21.3          The provisions of this
          Section 16.21 may be enforced by any court of competent jurisdiction, and the party seeking enforcement shall be entitled to an award of all fees and costs, including reasonable attorneys’ fees, to be paid by the party against which enforcement
          is ordered.  The covenants of Landlord and Tenant contained in this Section 16.21 shall survive the termination of this Lease.

       

      16.21.4          Nothing contained herein shall
          enable either party to compel the other party to submit any dispute to arbitration and neither party shall be required to submit a dispute to arbitration prior to commencing an action with respect to a claim or dispute covered by this
          Section 16.21 so long as such party first complies with terms and conditions of this Section 16.21.

       

      16.22          Joint and Several Liability.  If more than one person or entity executes this Lease as Landlord each of them is and shall be jointly and severally liable for the covenants, conditions, provisions
          and agreements of this Lease to be kept, observed and performed by Landlord.

       

      [Signatures follow]

       

      
        25

        
          

      

      IN WITNESS WHEREOF, the parties shall be deemed to have executed this Lease as of the date first set forth above.

       
        	
                TENANT:

              	 	 	
                LANDLORD:

              	 	 
	 	 	 	 	 	 
	
                Pacific Gas and Electric Company,

              	  	, 

              
	
                a California corporation

              	a  

              	 	 	 
	 	 	 	 	 	 
	
                By:

              	 	 	
                By:

              	 	 
	
                Name:

              	 	 	
                Name:

              	 	 
	
                Title:

              	 	 	
                Title:

              	 	 

      

      

      

       
        [Signature Page to Lease Agreement]

         

      

      
        
          

      

      

       

      

       

      

      EXHIBIT A

       

      PREMISES AND BASE RENT

       

      [●]

       

      

      

       

      

       
        Exhibit A

         

        

      

      
        
          

      

       

      

      EXHIBIT B

       

      PROJECT RIGHTS & OBLIGATIONS

       

      	(1)	
              Tenant shall have the exclusive rights to use, and the non-exclusive rights in common with others to use, the portions of the Project not consisting of the Premises and identified
                on Exhibit C attached hereto.  The non-exclusive rights include, without limitation, the path of travel and entry points to and serving the
                Premises as well as to all electrical systems (including the network and power service systems) serving the Premises from the vaults of 77 Beale and 245 Market Street.

            

       

      	(2)	
              Tenant shall have the right to install, maintain, replace, remove or use any communications or computer wires and cables or other data-lines that exist outside of the Premises and
                which serve the Premises (collectively, the “Lines”), including specifically installing and maintaining the Lines from the minimum point of entry to
                the Premises at 45 Beale and the 77 Beale; provided that (i) Tenant shall coordinate with Landlord and comply with all of the other provisions of this Lease, (ii) any new or existing Lines servicing the Premises shall comply with all
                applicable governmental laws and regulations, and (iii) Tenant shall pay all costs in connection therewith.

            

       

      	(3)	
              Tenant shall have the right to maintain existing signage on the exterior of the Premises at 45 Beale Street, and the Project at 77 Beale Street to the maximum extent permitted by
                the City and any other governmental entity with jurisdiction (including, without limitation, changing Tenant’s name, logo, lettering or coloring).

            

       

      	(4)	
              Tenant may install and maintain on available space on the roofs of 77 Beale and 245 Market Street, antennas and satellite dishes and associated cabling, equipment and roof mount
                and base (collectively the “Rooftop System”) for data communications and video used in the conduct of Tenant’s business.  Tenant’s right to install and
                maintain any such Rooftop System shall be exclusive, and provided further that Tenant shall coordinate with Landlord regarding any rooftop uses required by Landlord for the continuing operation and maintenance of such building.  Tenant’s
                installation, if any, including of the antennas or satellite dishes, any associated electronic or other equipment, wiring, roof mount and base, shall at all times be subject to supervision and reasonable approval by Landlord.  Tenant shall
                be responsible for procuring whatever consents, approvals, licenses or permits that may be required for the use and operation of the Rooftop System.  Tenant shall at all times be permitted access to the area on the roof where any such
                installation may be made as necessary for the installation, maintenance, repair and replacement thereof.  Tenant shall at all times, and at Tenant’s sole expense, be responsible for proper maintenance of any such installation and all
                governmental permits and approvals required in connection therewith (including compliance with any and all conditions attached thereto).  Tenant may at any time, and shall at expiration or earlier termination of the Term, remove the Rooftop
                System, restore the relevant area to the condition existing prior to Tenant’s installation to the extent reasonably practicable, and repair any damage caused by Tenant’s installation or removal.

            

       

      	(5)	
              Tenant shall have the sole and exclusive rights to maintain, replace, remove and use the Diesel/Unleaded Fuel Supply (defined below) and access to all portions of the Project as
                may be necessary to accomplish the foregoing; provided, Tenant shall coordinate with Landlord and comply with all applicable provisions of this Lease in accordance with the foregoing.  Tenant shall at all times, and at Tenant’s sole
                expense, be responsible for proper maintenance of any such installation and all governmental permits and approvals required in connection therewith (including compliance with any and all conditions attached thereto).  As used herein the
                “Diesel/Unleaded Fuel Supply” shall mean the standby power generators, transformers, fuel tanks and enclosed generator pads currently existing on the rooftop of 77 Beale Street and below grade as shown on Exhibit C attached hereto and the equipment, connections and/or facilities relating thereto and servicing the Premises.

            

       

      
        Exhibit B

         

        

      

      
        
          

      

       

      

      	(6)	
              Tenant shall have the right, at its cost and expense, to install security systems within and servicing the Premises as it deems appropriate, including electronic card key system. 
                In addition, Tenant shall have the right to install a point-of-entry security system relating to the point of entry at 45 Beale Street as shown on Exhibit
                    C.  Tenant shall ensure that any such security systems shall comply with all laws, including all fire safety laws.  Section 7 of this Lease shall govern the installation of any such security systems, provided that Landlord’s
                consent shall not be required for security systems within and serving the Premises.

            

       

      

      Exhibit B

      
        
          

      

       

      

      EXHIBIT C

       

      DEPICTION OF PREMISES AND NON-EXCLUSIVE RIGHTS USE AREAS

       

      [●]

       

      

      

       

      

      

       
        Exhibit C

         

        

      

      
        
          

      

       

      

      EXHIBIT D

       

      DEPICTION OF EXPIRATION DATES AS TO 77 BEALE PORTION OF PREMISES

       

      [●]

       

      

      

       

      

      

       

    

    

    

    

    

    
      

      

      
        Exhibit D

        

      

    

    

    

    
      
        

    

     

      

    EXHIBIT I

    

    

    FORM OF TENANT ESTOPPEL
          CERTIFICATE

    

    

    TO:

    [Seller] (“Seller”)

    [insert address]

    

    

    [Buyer] (“Buyer”)

    [insert address]

    

    

    	
            Re:

          	
            Lease Dated

          	
            ___________________

          
	 	
            Current Landlord:

          	
            ___________________

          
	 	
            Tenant:

          	
            ___________________

          
	 	
            Building:

          	
            ___________________

          
	 	
            Premises:

          	
            Approximately ________ square feet known as ___________

          

    

    

     
              Ladies and Gentlemen:

    

    

    The undersigned, Tenant under the above-described lease (the “Lease”), hereby
      certifies to Seller and Buyer as of the date hereof the following:

    

    

    
      1.          Attached as Exhibit A
          is a list of the current and correct Lease and all modifications, amendments, supplements, side letters, addenda and riders of and to it, which constitutes the entire agreement between Tenant and Landlord with respect to the Premises, and has not
          been otherwise modified, changed, altered or amended, assigned or encumbered.

      

      

      2.          The term of the Lease commenced on ________________ and will expire on __________________, including
          any presently exercised option or renewal term.  Tenant has no option or right to renew, extend or cancel the Lease, or to lease additional space in the Premises or Building other than as set forth in the Lease.

      

      

      3.          Tenant has no option or preferential right to purchase all or any part of the Premises (or the land
          or Building of which the Premises is a part), and has no right or interest with respect to the Premises or the Building other than as Tenant under the Lease.

      

      

      4.          The monthly base rent currently payable under the Lease is $_________ and such rent has been paid
          through _____________, ________.  Tenant is not entitled to any credit against any rent or other charge or rent concession under the Lease except as set forth in the Lease.  No rental payments have been made more than one month in advance.

      

      

      5.          Landlord currently holds a security deposit in the amount of $__________ in the following
          form           ___________________________________, which is to be applied by Landlord or returned to Tenant in accordance with the Lease (if none state none).

       

        

      

        Exhibit I

      

      
        
          

      

       

        

      6.          To the knowledge of Tenant, no party is in default under the Lease.

      

      

      7.          All contributions required by the Lease to be paid by Landlord to date for improvements to the
          Premises have been paid in full and all of Landlord’s obligations with respect to improvements to the Premises or the Building have been fully performed or are in process of being fully performed other than _____________(if none state none). 
          Tenant has accepted the Premises, subject to no conditions other than those set forth in the Lease.

       

    

              Tenant acknowledges the right of Seller, Buyer, and any lender to Buyer contemplating holding a security interest in the Building and its future
        assignee, if any, to rely upon the statements and representations of Tenant contained in this Certificate and further acknowledges that any purchase by Buyer of the property that includes the Premises and the Building, and any loan by a lender
        taking a security interest in the Building will be made and entered into in material reliance on this Certificate.

    

    

    
      Exhibit I

    

    
      
        

    

    

    

    

    

    
      	 	
              “TENANT”

            	 
	 	 	 	 
	 	 	 	 
	 	  	 
	 	
              a

            	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	
              By:

            	 	 
	 	
              Name:

            	 	 
	 	
              Its:

            	 	 
	 	 	 	 
	 	 	 	 
	 	
              Date:

            	 	 
	 	 	 	 
	 	 	 	 
	 	
              CONFIRMED:

            	 
	 	 	 	 
	 	
              “GUARANTOR”

            	 
	 	 	 	 
	 	  	 
	 	
              a

            	 	 
	 	 	 	 
	 	 	 	 
	 	
              By:

            	 	 
	 	
              Name:

            	 	 
	 	
              Its:

            	 	 
	 	 	 	 
	 	 	 	 
	 	
              Date:

            	 	 

    

    

    

    
      Exhibit I

       

      

    

    

    
      
        

    

    EXHIBIT J

    

    

    UTILITY ACCESS AGREEMENT

    

    

    	
            Transformer Room Agreement (Rev 2/19)

            RECORDING REQUESTED BY AND RETURN TO:

             

            PACIFIC GAS AND ELECTRIC COMPANY

            245 Market Street, N10A, Room 1015

            P.O. Box 770000

            San Francisco, California 94177

             

             

          	 
	
            Location:  City and County of San Francisco

            Document Transfer Tax $0 This is a conveyance where the consideration and Value is less than $100.00 (R&T 11911).

             

          	
             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

            (SPACE ABOVE FOR RECORDER’S USE ONLY)

          
	
            LD#

          	
            TRANSFORMER AND GAS ROOM AGREEMENT

          

    (APNs: ____________________)

    

    

    This Transformer and Gas Room Agreement (“Agreement”) is
      made by and between ______________ (“Owner”) and PACIFIC GAS AND ELECTRIC COMPANY, a California corporation (“PG&E”), on this _________________ day of ____________, 20__.

    

    

    RECITALS

    

    

    A.          Owner is the owner of that certain parcel of land, situated in the City
        and County of San Francisco, State of California more particularly described on Exhibit A (the “Property”).

    

    

    B.          PG&E supplies gas and electric service to Owner in accordance with
        its applicable rates and rules established from time to time and on file with the California Public Utilities Commission (“CPUC”).

    

    

    C.          In order for PG&E to supply and/or Owner to receive such services,
        PG&E has installed and will need to utilize and access: (i) transformer(s), including any necessary switches, capacitors and electric protective equipment where required within the areas on the Property and/or adjacent to the Property as depicted on Exhibit B (collectively, and including the Rooftop Equipment defined below,
        each a “Vault” and collectively, the “Vaults”), and (ii) meter(s) or
        regulator(s) within room(s) or vault(s) on the Property as depicted on Exhibit B (each a “Gas Meter Room” and collectively, the “Gas Meter Rooms”)

        in accordance with PG&E’s tariff rules (the “Tariff Rules”) and the terms and conditions of this Agreement.

    

      Exhibit J

    

    
      
        

    

    

    

    AGREEMENT

    

    

    NOW THEREFORE,cin return for the consideration, covenants, and
        promises contained in this Agreement, the parties agree as follows:

     

      

    1.          Gas Meter Rooms and Vaults.  Owner shall own and maintain the Gas Meter Rooms and the Vaults and shall meet
        PG&E’s specifications for such things as access, ventilation, drainage, grounding system, etc. in accordance with the Tariff Rules.  PG&E’s specifications are currently set forth in the following: (a) as pertaining to the Gas Meter Rooms,
        the Gas Design Standard J-16 entitled “Gas Meter Room” contained in Appendix C of PG&E’s Electric and Gas Service Requirements (Greenbook) which is incorporated herein and made part hereof by reference; (b) as pertaining to the Vaults that are
        for network facilities, PG&E’s Electrical Design Standard Document No. 236442 which is incorporated herein and made a part hereof by reference; and (c) as pertaining to the Vaults that are for radial facilities. PG&E’s Engineering Document
        No. 057521 entitled “Pad-Mounted Transformer Installed Indoors” contained in Appendix C of PG&E’s Electric and Gas Service Requirements (Greenbook) which is incorporated herein and made part hereof by reference. 

     

    2.          Rooftop
            Equipment. PG&E has installed rooftop transformers at locations on the Property where it cannot use its standard transformer lifting equipment and special lifting facilities are required to install or remove the transformer(s)
        (the “Rooftop Equipment”). This Rooftop Equipment are depicted on Exhibit B.  
        Owner shall, at its expense, (a) furnish, install, own and maintain permanent lifting facilities and be responsible for lifting the Rooftop Equipment to and from the permanent position, or (b) provide (or pay for) portable lifting facilities
        acceptable to PG&E for installing or removing such Rooftop Equipment in accordance with the Tariff Rules.   Owner acknowledges and agrees that all risers and equipment therein to and from the Rooftop Equipment are the Owner and PG&E shall
        have no responsibility thereof.

     

    3.          Electricity

            Load. Owner covenants and agrees that the installation of the Vaults is designed to meet the initial load and demand of electric service to supply the Owner and the Property.  In the event additional electric service capacity is
        needed to serve the Owner and the Property, at PG&E’s determination, Owner shall provide additional space in room(s) or vault(s) for PG&E’s equipment and comply with the requirements in this Agreement and the Tariff Rules.

     

    4.          Access.
        Owner shall provide PG&E with unrestricted access to and from the Gas Meter Rooms and the Vaults and access shall comply generally with the Tariff Rules. To the extent roof access is restricted by keys or other locks, Owner agrees to place lock
        boxes by the locked doors with key access to allow for access to and from the Vaults.

     

    5.          Changes.
        Any changes or additions to the Gas Meter Rooms or Vaults shall be made only after PG&E’s written approval.  Owner’s access to the Gas Meter Rooms or Vaults shall be for the limited purpose of performing any necessary maintenance and shall be
        under PG&E’s supervision.   Access to the Gas Meter Rooms and Vaults shall be in accordance with the Work Procedures and Operating Procedures established by the applicable Cal/OSHA regulations governing high-voltage systems in Title 8 of the
        California Code of Regulations.

    

      Exhibit J

    

    
      
        

    

     

    6.          Tariff
            Rules.  Owner further agrees to a continuing obligation to comply with the Tariff Rules as the same may from time to time be amended or modified by the CPUC.

     

    7.          Termination

            of Services.  In the event that Owner discontinues services from PG&E, Owner and PG&E shall negotiate an easement, reasonably satisfactory to PG&E regarding PG&E’s continued operation and maintenance of certain
        equipment located in the Vaults on the Property that serve properties other than the Property.

     

    8.          Counterparts;

            Successors. This document may be executed in multiple counterparts, each of which shall be deemed an original, but all of which, together, shall constitute one and the same instrument.  The provisions hereof shall inure to the
        benefit of and bind the successors and assigns of the respective parties hereto, and all covenants shall apply to and run with the Property.

     

    

    Exhibit J

    
      
        

    

    

    

    
      	
              Owner:

              

                [INSERT]

            	 	
              PG&E:

               

              PACIFIC GAS AND ELECTRIC COMPANY,

            
	 	 	
              a California corporation

            
	 	 	 
	 	 	 
	 	 	 
	
              

              

            	 	
              

              

            
	
              Name

            	 	
              Name

            
	
              Title

            	 	
              Title

            

    

    

    

    [Notaries to be inserted]

    

    

    

    

    

    

    
      Exhibit J

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      
        

    

     

      

    SCHEDULE 1

    

    

    LEGAL DESCRIPTION OF REAL PROPERTY

    

    

    THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF SAN FRANCISCO, IN THE COUNTY

    OF SAN FRANCISCO, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS:

    

    

    PARCEL 1:

    

    

    LOT 19, AS SHOWN UPON SAID PARCEL MAP, BEING A MERGER OF LOTS 14A AND 18, BEING A

    PORTION OF ASSESSOR’S BLOCK NO. 3711, ALSO BEING A PORTION OF 100 VARA BLOCK NO. 329, SAN

    FRANCISCO, CALIF., WHICH WAS FILED FOR RECORD ON JULY 27, 1995, IN BOOK 42 OF PARCEL MAPS,

    AT PAGE 85, IN THE CITY AND COUNTY OF SAN FRANCISCO.

    

    

    PARCEL 2:

    

    

    BEGINNING AT A POINT ON THE SOUTHWESTERLY LINE OF MAIN STREET, DISTANT THEREON 183.333

    FEET NORTHWESTERLY FROM THE NORTHWESTERLY LINE OF MISSION STREET; RUNNING THENCE

    NORTHWESTERLY AND ALONG SAID LINE OF MAIN STREET, 46.233 FEET TO A POINT THAT MEASURES

    320.833 FEET FROM THE SOUTHEASTERLY LINE OF MARKET STREET; THENCE AT A RIGHT ANGLE

    SOUTHWESTERLY 137.833 FEET TO A POINT 137.500 FEET FROM THE NORTHEASTERLY LINE OF

    BEALE STREET; THENCE AT A RIGHT ANGLE SOUTHEASTERLY 46.233 FEET; THENCE AT A RIGHT

    ANGLE NORTHEASTERLY 137.833 FEET TO THE POINT OF BEGINNING.

    

    

    BEING ALL OF BEACH AND WATER LOT NO. 617, IN BLOCK NO. 329.

    

    

    PARCEL 3:

    

    

    BEGINNING AT A POINT ON THE SOUTHWESTERLY LINE OF MAIN STREET, DISTANT THEREON 137

    FEET AND 6 INCHES NORTHWESTERLY FROM THE NORTHWESTERLY LINE OF MISSION STREET;

    RUNNING THENCE NORTHWESTERLY AND ALONG SAID LINE OF MAIN STREET, 45.833 FEET; THENCE

    AT A RIGHT ANGLE SOUTHWESTERLY 137.833 FEET TO A POINT 137.500 FEET FROM THE

     

    

    
      Schedule 1

    

    
      
        

    

     

    

    NORTHEASTERLY LINE OF BEALE STREET; THENCE AT A RIGHT ANGLE SOUTHEASTERLY 45.833 FEET;

    THENCE AT A RIGHT ANGLE NORTHEASTERLY 137.833 FEET TO THE POINT OF BEGINNING.

    

    

    BEING A PORTION OF 100 VARA BLOCK NO. 329.

    

    

    PARCEL 4:

    

    

    BEGINNING AT A POINT ON THE NORTHEASTERLY LINE OF BEALE STREET, DISTANT THEREON 229.160

    NORTHWESTERLY FROM THE NORTHWESTERLY LINE OF MISSION STREET; RUNNING THENCE

    NORTHWESTERLY ALONG SAID LINE OF BEALE STREET, 45.906 FEET TO A POINT 275.333 FEET FROM

    THE SOUTHEASTERLY LINE OF MARKET STREET; THENCE AT A RIGHT ANGLE NORTHEASTERLY

    

    

    137.500 FEET; THENCE AT A RIGHT ANGLE SOUTHEASTERLY 45.906 FEET; AND THENCE AT A RIGHT

    ANGLE SOUTHWESTERLY 137.500 FEET TO THE POINT OF BEGINNING.

    

    

    BEING A PART OF 100 VARA BLOCK NO. 329.

    

    

    PARCEL 5:

    

    

    BEGINNING AT THE POINT OF INTERSECTION OF THE NORTHWESTERLY LINE OF MISSION STREET

    WITH THE SOUTHWESTERLY LINE OF MAIN STREET; RUNNING THENCE SOUTHWESTERLY ALONG

    SAID LINE OF MISSION STREET, 45 FEET AND 10 INCHES; THENCE AT A RIGHT ANGLE

    

    

    NORTHWESTERLY 137 FEET AND 6 INCHES; THENCE AT A RIGHT ANGLE NORTHEASTERLY 45 FEET

    AND 10 INCHES TO THE SOUTHWESTERLY LINE OF MAIN STREET; AND THENCE AT A RIGHT ANGLE

    SOUTHEASTERLY ALONG SAID LINE OF MAIN STREET 137 FEET AND 6 INCHES TO THE POINT OF

    BEGINNING.

    

    

    BEING A PART OF 100 VARA BLOCK NO. 329.

    

    

    PARCEL 6:

    

    

    BEGINNING AT A POINT ON THE NORTHWESTERLY LINE OF MISSION STREET, DISTANT THEREON 45

    
       

      

      
        Schedule 1

      

    

    
      
        

    

     

    

     

    

    FEET AND 10 INCHES SOUTHWESTERLY FROM THE SOUTHWESTERLY LINE OF MAIN STREET;

    RUNNING THENCE SOUTHWESTERLY AND ALONG SAID LINE OF MISSION STREET, 45 FEET AND 10

    INCHES; THENCE AT A RIGHT ANGLE NORTHWESTERLY 137 FEET AND 6 INCHES; THENCE AT A RIGHT

    ANGLE NORTHEASTERLY 45 FEET AND 10 INCHES; THENCE AT ARIGHT ANGLE SOUTHEASTERLY 137

    FEET AND 6 INCHES TO THE POINT OF BEGINNING.

    BEING PART OF 100 VARA BLOCK NO. 329.

    

    

    PARCEL 7:

    BEGINNING AT A POINT ON THE NORTHWESTERLY LINE OF MISSION STREET, DISTANT THEREON

    91.667 FEET SOUTHWESTERLY FROM THE SOUTHWESTERLY LINE OF MAIN STREET; RUNNING

    THENCE SOUTHWESTERLY ALONG SAID LINE OF MISSION STREET, 46.196 TO A POINT ON THE

    NORTHWESTERLY LINE OF MISSION STREET THAT MEASURES 137.500 FEET FROM THE

    NORTHEASTERLY LINE OF BEALE STREET; THENCE AT A RIGHT ANGLE NORTHWESTERLY 137.500

    FEET; THENCE AT A RIGHT ANGLE NORTHEASTERLY 46.196; THENCE AT A RIGHT ANGLE

    SOUTHEASTERLY 137.500 FEET TO THE POINT OF

    BEGINNING.

    

    

    BEING A PORTION OF 100 VARA BLOCK NO. 329.

    

    

    PARCEL 8:

    

    

    BEGINNING AT A POINT ON THE NORTHWESTERLY LINE OF MISSION STREET, DISTANT THEREON 91

    FEET AND 6 INCHES NORTHEASTERLY FROM THE NORTHEASTERLY LINE OF BEALE STREET;

    RUNNING THENCE NORTHEASTERLY AND ALONG SAID LINE OF MISSION STREET, 46 FEET; THENCE

    AT A RIGHT ANGLE NORTHWESTERLY 137 FEET AND 6 INCHES; THENCE AT A RIGHT ANGLE

    SOUTHWESTERLY 46 FEET; THENCE AT A RIGHT ANGLE SOUTHEASTERLY 137 FEET AND 6 INCHES TO

    THE POINT OF BEGINNING.

    

    

    BEING PART OF 100 VARA BLOCK NO. 329.

     

    

    
       

      

      
        Schedule 1

      

    

    
      
        

    

     

    

    PARCEL 9:

    

    

    BEGINNING AT A POINT ON THE NORTHWESTERLY LINE OF MISSION STREET, DISTANT THEREON 46

    FEET AND 6 INCHES NORTHEASTERLY FROM THE NORTHEASTERLY LINE OF BEALE STREET;

    RUNNING THENCE NORTHEASTERLY AND ALONG SAID LINE OF MISSION STREET, 45 FEET; THENCE

    AT A RIGHT ANGLE NORTHWESTERLY 137 FEET AND 6 INCHES; THENCE AT A RIGHT ANGLE

    SOUTHWESTERLY 45 FEET; AND THENCE AT A RIGHT ANGLE SOUTHEASTERLY 137 FEET AND 6

    INCHES TO THE POINT OF BEGINNING.

    

    

    BEING PART OF 100 VARA BLOCK NO. 329.

    

    

    PARCEL 10:

    

    

    BEGINNING AT THE POINT OF INTERSECTION OF THE NORTHEASTERLY LINE OF BEALE STREET WITH

    THE NORTHWESTERLY LINE OF MISSION STREET; RUNNING THENCE NORTHEASTERLY ALONG SAID

    LINE OF MISSION STREET, 46 FEET AND 6 INCHES; THENCE AT A RIGHT ANGLE NORTHWESTERLY 137

    FEET AND 6 INCHES; THENCE AT A RIGHT ANGLE SOUTHWESTERLY 46 FEET AND 6 INCHES TO THE

    NORTHEASTERLY LINE OF BEALE STREET; AND THENCE AT A RIGHT ANGLE SOUTHEASTERLY ALONG

    SAID LINE OF BEALE STREET 137 FEET AND 6 INCHES TO THE POINT OF BEGINNING.

    

    

    BEING A PORTION OF 100 VARA BLOCK NO. 329.

    

    

    PARCEL 11:

    

    

    

    

    BEGINNING AT A POINT ON THE NORTHEASTERLY LINE OF BEALE STREET, DISTANT THEREON 137

    FEET AND 6 INCHES NORTHWESTERLY FROM THE NORTHWESTERLY LINE OF MISSION STREET;

    RUNNING THENCE NORTHWESTERLY ALONG SAID LINE OF BEALE STREET, 91 FEET AND 8 INCHES;

    THENCE AT A RIGHT ANGLE NORTHEASTERLY 137 FEET AND 6 INCHES; THENCE AT ARIGHT ANGLE

    SOUTHEASTERLY 91 FEET AND 8 INCHES; THENCE AT A RIGHT ANGLE SOUTHWESTERLY 137 FEET

    
       

      

      
        Schedule 1

      

    

    
      
        

    

     

    

    AND 6 INCHES TO THE POINT OF BEGINNING.

    

    

    BEING A PART OF 100 VARA BLOCK NO. 329.

    

    

    PARCEL 12:

    

    

    COMMENCING AT THE POINT OF INTERSECTION OF THE NORTHERLY LINE OF BEALE STREET WITH

    THE WESTERLY LINE OF MISSION STREET; THENCE, RUNNING WESTERLY ALONG SAID NORTHERLY

    LINE OF MISSION STREET, A DISTANCE OF 229.167 FEET TO THE POINT OF BEGINNING; THENCE, AT A

    RIGHT ANGLE NORTHERLY, A DISTANCE OF 137.500 FEET; THENCE, AT A RIGHT ANGLE WESTERLY, A

    DISTANCE OF 0.406 FEET; THENCE, AT A RIGHT ANGLE SOUTHERLY, A DISTANCE OF 137.500 FEET;

    THENCE, AT A RIGHT ANGLE EASTERLY, A DISTANCE OF 0.406 FEET TO THE POINT OF BEGINNING.

    

    

    BEING A PART OF 100 VARA BLOCK NO. 329.

    

    

    

    

    APN:  LOTS 005, 006, 007, 008, 009, 010, 011, 012, 013, 014, AND 019 (formerly Lots 014A & 018), BLOCK 3711

    

    

    
       

      

      
        Schedule 1

      

    

    
      
        

    

     

      

    SCHEDULE 2

    

    

    LEASES

    

    

    CITIBANK

    

    

    	●	
            Retail Lease by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and CITIBANK, F.S.B., a federal savings bank, dated as of April 1, 1995

          

    

    

    	●	
            Commencement Date Agreement by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and CITIBANK, F.S.B., a federal savings bank, dated as of
              November 15, 1995

          

    

    

    	●	
            Assignment and Assumption of Leases by and between CITIBANK, F.S.B., and CITIBANK (West) F.S.B., dated as of November 13, 2002

          

    

    

    	●	
            First Amendment to Retail Lease by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and CITIBANK (West) F.S.B., a federal savings bank
              dated as of May 2, 2005

          

    

    

    	●	
            Second Amendment to Retail Lease by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and CITIBANK, N.A., a national banking association
              dated as of July 1, 2010

          

    

    

    	●	
            Third Amendment to Retail Lease by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and CITIBANK, N.A., a national banking association
              dated as of July 15, 2015

          

    

    

    	●	
            Fourth Amendment to Retail Lease by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and CITIBANK, N.A., a national banking association
              dated as of November 13, 2017

          

    

    

    Dr. Szeto

    

    

    	●	
            Retail Lease by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and Dr. Timothy W. Tandrow, Optometrist, Inc., dated as of March 1, 1995

          

    

    

    	●	
            Commencement Date Agreement by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and Dr. Timothy W. Tandrow, Optometrist, Inc., dated as of
              September 25, 1995

          

    

    

    	●	
            Lease Assignment and Consent by and between Dr. Timothy W. Tandrow, Optometrist, Inc., and Dr. Veda Szeto, a natural person, dated as of August 1, 2003

          

    

    

    	●	
            First Amendment to Lease by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and Dr. Veda Szeto, a natural person, dated as of January 1,
              2006

          

    

    

    	●	
            Lease between Dr. Veda Szeto and Pacific Gas & Electric Company – Upcoming Lease Expiration by and between PACIFIC GAS AND ELECTRIC COMPANY, a California
              corporation and Dr. Veda Szeto, a natural person, dated as of December 3, 2013

          

    

    

    
      Schedule 2

       

      

       

      

      
        
          

      

    

    

    

    Mojan Cleaners

    

    

    	●	
            Retail Lease by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and KHOSRO HAGHIGHI JAVID, a sole proprietor, dated as of December 1, 2008

          

    

    

    	●	
            Letter of Confirmation by and between ACIFIC GAS AND ELECTRIC COMPANY, a California corporation and KHOSRO HAGHIGHI JAVID, a sole proprietor, dated as of
              June 26, 2006

          

    

    

    	●	
            Lease between Khosro Haghighi and PG&E – Renewal Term Rent Determination by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and KHOSRO
              HAGHIGHI JAVID, a sole proprietor, dated as of May 9, 2014

          

    

    

    	●	
            First Amendment to Lease by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and KHOSRO HAGHIGHI JAVID, a sole proprietor, dated as of
              May 15, 2018

          

    

    

    	●	
            Second Amendment to Lease by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and KHOSRO HAGHIGHI JAVID, a sole proprietor, dated as of
              September 20, 2018

          

    

    

    PSCU

    

    

    	●	
            Retail Lease by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and PACIFIC SERVICE CREDIT UNION, a State Chartered Credit Union, dated as
              of January 1, 2016

          

    

    

    	●	
            Option Exercise Notice by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and PACIFIC SERVICE CREDIT UNION, a State Chartered Credit
              Union, dated as of November 26, 2016

          

    

    

    Sprig Café

    

    

    	●	
            Retail Lease by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and AEGIS RETAIL ONE, LLC, a California limited liability company dated as
              of June 1, 2012

          

    

    

    	●•	
            First Amendment to Lease by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation and AEGIS RETAIL ONE, LLC, a California limited liability
              company dated as of April 14, 2014

          

    

    

    Wells Fargo ATM

    

    

    	●	
            Express Service Lease by and between Pacific Gas & Electric Company and Wells Fargo Bank, N.A., a national banking association dated as of March 23, 1983

          

    

    

    	●	
            Amendment I by and between Pacific Gas & Electric Company and Wells Fargo Bank, N.A., dated as of October 22, 1996

          

    

    

    Antenna Omnipoint Communication/ TMobile

    

    

    	●	
            Site License Acknowledgement by and between Pacific Gas and Electric Company and Omnipoint Communications, Inc. dated as of April 21, 2005

          

    

    

    
      Schedule 2

       

      

       

      

      
        
          

      

    

    

    

    	●	
            Site License Acknowledgement Amendment No. 1 by and between Pacific Gas and Electric Company and T-Mobile West LLC, a Delaware Limited Liability Company formerly
              known as T-Mobile West Corporation, successor-in-interest to Omnipoint Communications, Inc. dated as of January 27, 2016

          

    

    

    	●	
            Incorporating by reference the terms of that certain Amended and Restated Master Licenses Agreement by and between Pacific Gas and Electric Company, a California
              Corporation, and T-Mobile West LLC, a Delaware limited liability company and MetroPCS California, LLC, a Delaware limited liability company dated as of May 12, 2018 as amended by that certain First Amendment to Amended and Restated Master
              License Agreement by and between Pacific Gas and Electric Company, a California corporation, and T-Mobile West LLC, a Delaware limited liability company and MetroPCS California, LLC, a Delaware limited liability company; dated as of July 24,
              2020

          

    

    

    Extenet Systems

    

    

    	●	
            Site License Acknowledgement by and between Pacific Gas and Electric Company, a California corporation, and Extenet Systems (California) LLC dated as of November
              15, 2012

          

    

    

    	●	
            Site License Acknowledgement by and between Pacific Gas and Electric Company, a California Corporation, and Extenet Systems (California) LLC dated as of June, 1,
              2013

          

    

    

    	●	
            Site Acknowledgement by and between Pacific Gas and Electric Company, a California corporation, and Extenet Systems (California) LLC, dated as of August 1, 2014

          

    

    

    	●	
            Site License Acknowledgement Amendment 1 by and between Pacific Gas and Electric Company, a California corporation, and Extenet Systems (California) LLC dated as
              of December 31, 2014

          

    

    

    	●	
            Site License Acknowledgement by and between Pacific Gas and Electric Company a California corporation, and Extenet Systems (California) LLC dated as of February
              4, 2016

          

    

    

    	●	
            Incorporating by reference the terms of that certain Master License Agreement for Antenna Attachments by and between Pacific Gas and Electric dated as of
              September 30, 2011, as amended by First Amendment to the Master License Agreement by and between Pacific Gas and Electric Company, a California corporation, and Extenet Systems (California) LLC, a California Limited Liability Company dated as
              of January, 3 2018

          

    

    

    
      Schedule 2

    

    

    

    
      
        

    

    SCHEDULE 3

    

    

    EXCLUDED PROPERTY

    

    

    	●	
            Copiers, printers, scanners, telefax and other technologic office assets including desktop equipment such as monitors, monitor arms, docking stations, keyboards,
              and mice;

          

    

    

    	●	
            Wired and wireless network components not required to operate the building such as routers, switches, wireless access points, and power strips (we plan to leave
              the base building control network in place until owner network is established);

          

    

    

    	●	
            Components containing proprietary data such as servers, configurable switches and routers, and disk drives;

          

    

    

    	●	
            Telephony components include VOIP phone sets, Turret phone systems, radios, and other communications equipment;

          

    

    

    	●	
            Audio Visual equipment such as monitors and video equipment not embedded into the structure; and

          

    

    

    	●	
            Personal property owned by employees of Seller.

          

    

    

    
      Schedule 3

    

    
      
        

    

    

    

    SCHEDULE 4

     

      

    CONTRACTS

    

    

    	●	
            Contract between Roebbelen Contracting, Inc. and Seller dated January 2, 2020 (Master Services Agreement - General Contracting Services on an As-Requested Basis)
              as implemented by Contract Worth Authorization dated September 25, 2020 (Fire Smoke Dampers)

          

    

    

    	●	
            Contract between CB2 Buildings Incorporated and Seller dated January 7, 2020 (Master Services Agreement - General Contracting Services on an As-Requested Basis)
              as implemented by Change Order No. 2700405682 issued on February 26, 2021 (General Contracting and Pedestrian Protection Scaffolding Rental – Change Event #001)

          

    

    

    
      Schedule 4

    

    
      
        

    

    SCHEDULE 5

    

    

    

    

    LIST OF BUILDING, ENGINEERING AND ENVIRONMENTAL REPORTS AND OTHER DUE DILIGENCE DOCUMENTS PROVIDED AS OF THE DATE OF THE AGREEMENT

    

    

    

    

    [●]

    

    

    
      Schedule 5

    

    
      
        

    

    SCHEDULE 6

    

    

    

    

    SELLER DISCLOSURES

    

    

    

    

    None

    

    

    

    

    

    

    

    

    

    

  

  
    Schedule 6Exhibit 4.1

 

WARRANT
AGREEMENT

 

THIS
WARRANT AGREEMENT (this “Agreement”), dated as of May 18, 2021, is by and between Aries I Acquisition
Corporation, a Cayman Islands exempted company (the “Company”), and Continental Stock Transfer &
Trust Company, a New York corporation, as warrant agent (in such capacity, the “Warrant Agent”, and
also referred to herein as the “Transfer Agent”).

 

WHEREAS,
the Company is engaged in an initial public offering (the “Offering”) of units of the
Company’s equity securities, each such unit comprised of one Class A ordinary share of the Company, par value $0.0001
per share (“Ordinary Shares”), and one-half of one redeemable Public Warrant (as defined below)
(the “Units”) and, in connection therewith, has determined to issue and deliver 6,250,000 warrants
(or 7,187,500 warrants if the Over-allotment Option (as defined below) is exercised in full) to public investors in the
Offering (the “Public Warrants”);

 

WHEREAS,
the Company has filed with the U.S. Securities and Exchange Commission (the “Commission”) a registration
statement on Form S-1, File No. 333-253806 (the “Registration Statement”), and prospectus (the “Prospectus”),
for the registration, under the Securities Act of 1933, as amended (the “Securities Act”), of the Units
and the Public Warrants and the Ordinary Shares included in the Units;

 

WHEREAS,
the Company has entered into that certain Private Placement Warrants Purchase Agreement with Aries Acquisition Partners, Ltd.,
a Cayman Islands limited company (the “Sponsor”), pursuant to which the Sponsor agreed to purchase an
aggregate of 4,175,000 warrants (or up to 4,456,000 warrants if the Over-allotment Option is exercised in full) simultaneously
with the closing of the Offering (and the closing of the Over-allotment Option, if applicable) bearing the legend set forth in
Exhibit B hereto (the “Private Placement Warrants”) at a purchase price of $1.00 per Private
Placement Warrant;

 

WHEREAS,
in order to finance the Company’s working capital deficiencies transaction costs in connection with an intended initial
Business Combination (as defined below), the Sponsor or an affiliate of the Sponsor or the Company’s officers and directors
may, but are not obligated to, loan to the Company funds as the Company may require, of which up to $1,500,000 of such loans may
be convertible into up to an additional 1,500,000 warrants at a price of $1.00 per warrant, which will be identical to the Private
Placement Warrants (the “Working Capital Warrants,” and, together with the Private Placement Warrants
and the Public Warrants, the “Warrants”);

 

WHEREAS,
each Warrant entitles the holder thereof to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment
as described herein;

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection
with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants;

 

WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised,
and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants;
and

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company
and countersigned by or on behalf of the Warrant Agent, as provided herein, the valid, binding and legal obligations of the Company,
and to authorize the execution and delivery of this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1.          Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants,
and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions
set forth in this Agreement.

     

     

    

		2.	Warrants.

 

2.1         Form of Warrant. Each Warrant shall be issued in registered form only, and, if a physical certificate is issued, shall
be in substantially the form of Exhibit A hereto, the provisions of which are incorporated herein and shall be signed by,
or bear the facsimile signature of, the Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer, Secretary
or other principal officer of the Company. In the event the person whose facsimile signature has been placed upon any Warrant
shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued
with the same effect as if he or she had not ceased to be such at the date of issuance. All of the Public Warrants shall initially
be represented by one or more book-entry certificates (each, a “Book-Entry Warrant Certificate”).

 

2.2         Effect of Countersignature. If a physical certificate is issued, unless and until countersigned by the Warrant Agent pursuant
to this Agreement, a Warrant certificate shall be invalid and of no effect and may not be exercised by the holder thereof.

 

		2.3	Registration.

 

2.3.1        Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”) for the registration
of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant
Agent shall issue and register the Warrants in the names of the respective holders thereof in such denominations and otherwise
in accordance with instructions delivered to the Warrant Agent by the Company. All of the Public Warrants shall initially be represented
by one or more Book-Entry Warrant Certificates deposited with The Depository Trust Company (the “Depositary”)
and registered in the name of Cede & Co., a nominee of the Depositary. Ownership of beneficial interests in the Public Warrants
shall be shown on, and the transfer of such ownership shall be effected through, records maintained by (i) the Depositary or its
nominee for each Book-Entry Warrant Certificate, or (ii) institutions that have accounts with the Depositary (each such institution,
with respect to a Warrant in its account, a “Participant”).

 

If
the Depositary subsequently ceases to make its book-entry settlement system available for the Public Warrants, the Company may
instruct the Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public Warrants
are not eligible for, or it is no longer necessary to have the Public Warrants available in, book-entry form, the Warrant Agent
shall provide written instructions to the Depositary to deliver to the Warrant Agent for cancellation each Book-Entry Warrant
Certificate, and the Company shall instruct the Warrant Agent to deliver to the Depositary definitive certificates in physical
form evidencing such Warrants (“Definitive Warrant Certificate”). Such Definitive Warrant Certificate
shall be in the form annexed hereto as Exhibit A, with appropriate insertions, modifications and omissions, as provided
above.

 

2.3.2        Registered Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent
may deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”)
as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other
writing on a Definitive Warrant Certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any
exercise thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to
the contrary.

 

2.4          Detachability
of Warrants. The Ordinary Shares and Public Warrants comprising the Units shall begin separate trading on the 52nd day following
the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday, on which banks
in New York City are generally open for normal business (a “Business Day”), then on the immediately
succeeding Business Day following such date, or earlier (the “Detachment Date”) with the consent of
Wells Fargo Securities, LLC, as representative of the several underwriters, but in no event shall the Ordinary Shares and the
Public Warrants comprising the Units be separately traded until (A) the Company has filed a Current Report on Form 8-K with the
Commission containing an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Offering, including
the proceeds received by the Company from the exercise by the underwriters of their right to purchase additional Units in the
Offering (the “Over-allotment Option”), if the Over-allotment Option is exercised prior to the filing
of the Form 8- K (and, if the over-allotment option is exercised following the initial filing of such Form 8-K, a second or amended
Form 8-K will be filed to provide updated financial information to reflect the exercise of the over-allotment option), and (B)
the Company issues a press release and files with the Commission a Current Report on Form 8-K announcing when such separate trading
shall begin.

    2 

     

    

2.5         Fractional Warrants. The Company shall not issue fractional Warrants other than as part of the Units, each of which is
comprised of one Ordinary Share and one-half of one Public Warrant. If, upon the detachment of Public Warrants from Units or otherwise,
a holder of Warrants would be entitled to receive a fractional Warrant, the Company shall round down to the nearest whole number
of Warrants to be issued to such holder.

 

2.6         Private Placement Warrants and Working Capital Warrants. The Private Placement Warrants and the Working Capital Warrants
shall be identical to the Public Warrants, except that so long as they are held by the Sponsor or any of its Permitted Transferees
(as defined below), the Private Placement Warrants and the Working Capital Warrants: (i) may be exercised for cash or on a “cashless
basis”, pursuant to subsection 3.3.1(c) hereof, (ii) including the Ordinary Shares issuable upon exercise of the
Private Placement Warrants and Working Capital Warrants, may not be transferred, assigned or sold until the date that is thirty
(30) days after the completion by the Company of an initial Business Combination (as defined below), (iii) shall not be redeemable
by the Company pursuant to Section 6.1 hereof and (iv) shall only be redeemable by the Company pursuant to Section 6.2
if the Reference Value (as defined below) is less than $18.00 per share (subject to adjustment in compliance with Section
4 hereof); provided, however, that in the case of (ii), the Private Placement Warrants and the Working Capital Warrants
and any Ordinary Shares held by the Sponsor or any of its Permitted Transferees and issued upon exercise of the Private Placement
Warrants and the Working Capital Warrants may be transferred by the holders thereof:

 

(a)        to the Company’s officers or directors, any affiliate or family member of any of the Company’s officers or directors,
any affiliate of the Sponsor or to any members of the Sponsor or any of their affiliates;

 

(b)        in the case of an individual, by gift to a member of such individual’s immediate family or to a trust, the beneficiary of
which is a member of such individual’s immediate family, an affiliate of such individual or to a charitable organization;

 

 (c)        in the case of an individual, by virtue of laws of descent and distribution upon death of such person;

 

 (d)        in the case of an individual, pursuant to a qualified domestic relations order;

 

(e)        by private sales or transfers made in connection with any forward purchase agreement or similar arrangement or in connection with
the consummation of an initial Business Combination at prices no greater than the price at which the Ordinary Shares or Warrants
were originally purchased;

 

(f)         by virtue of the laws of the Cayman Islands or the limited liability partnership agreement of the Sponsor upon dissolution of
the Sponsor;

 

(g)        to the Company for no value for cancellation in connection with the consummation of an initial Business Combination;

 

(h)
        in the event of the Company’s liquidation prior to the consummation of a Business Combination; or

 

(i)         in the event that, subsequent to the consummation of an initial Business Combination, the Company completes a liquidation, merger,
share exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange
their Ordinary Shares for cash, securities or other property; provided, however, that, in the case of clauses (a) through
(f), these transferees (the “Permitted Transferees”) enter into a written agreement with the Company
agreeing to be bound by the transfer restrictions in this
Agreement and the other restrictions contained in the letter agreement, dated as of the date hereof, by and among the Company,
the Sponsor and the Company’s officers and directors.

    3 

     

    

		3.	Terms
                                         and Exercise of Warrants.

 

3.1          Warrant Price. Each whole Warrant shall entitle the Registered Holder thereof, subject to the provisions of such Warrant
and of this Agreement, to purchase from the Company the number of Ordinary Shares stated therein, at the price of $11.50 per share,
subject to the adjustments provided in Section 4 hereof and in the last sentence of this Section 3.1. The term “Warrant
Price” as used in this Agreement shall mean the price per share at which Ordinary Shares may be purchased at the time a
Warrant is exercised. The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date
(as defined below) for a period of not less than twenty (20) Business Days, provided, that the Company shall provide at least
five (5) Business Days prior written notice of such reduction to Registered Holders of the Warrants and, provided further that
any such reduction shall be identical among all of the Warrants.

 

3.2          Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”)
(A) commencing on the later of: (i) the date that is thirty (30) days after the first date on which the Company completes a merger,
share exchange, asset acquisition, share purchase, reorganization or similar business combination, involving the Company and one
or more businesses (a “Business Combination”), and (ii) the date that is twelve (12) months from the
date of the closing of the Offering, and (B) terminating at 5:00 p.m., New York City time on the earliest to occur of: (i) the
date that is five (5) years after the date on which they first become exercisable, (ii) the liquidation of the Company, (iii)
other than with respect to the Private Placement Warrants and the Working Capital Warrants then held by the Sponsor or any of
its Permitted Transferees with respect to a redemption pursuant to Section 6.1 hereof or, if the Reference Value equals
or exceeds $18.00 per share (subject to adjustment in compliance with Section 4 hereof), Section 6.2 hereof, on
the Redemption Date (as defined below) as provided in Section 6.3 hereof (the “Expiration Date”);
provided, however, that the exercise of any Warrant shall be subject to the satisfaction of any applicable conditions,
as set forth in subsection 3.3.2 below, with respect to an effective registration statement. Except with respect to the
right to receive the Redemption Price (as defined below) (other than with respect to a Private Placement Warrant or a Working
Capital Warrant then held by the Sponsor or any of its Permitted Transferees in connection with a redemption pursuant to Section
6.1 hereof or, if the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance with Section
4 hereof), Section 6.2 hereof) in the event of a redemption (as set forth in Section 6 hereof), each outstanding
Warrant (other than a Private Placement Warrant or a Working Capital Warrant then held by the Sponsor or any of its Permitted
Transferees in the event of a redemption pursuant to Section 6.1 hereof or, if the Reference Value equals or exceeds $18.00
per share (subject to adjustment in compliance with Section 4 hereof), Section 6.2 hereof) not exercised on or before
the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall
cease at 5:00 p.m. New York City time on the Expiration Date. The Company in its sole discretion may extend the duration of the
Warrants by delaying the Expiration Date; provided that the Company shall provide at least twenty (20) days prior written
notice of any such extension to Registered Holders of the Warrants and, provided further that any such extension shall be identical
in duration among all the Warrants.

    4 

     

    

		3.3	Exercise
                                         of Warrants.

 

3.3.1      Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the Registered Holder thereof by
delivering to the Warrant Agent at its corporate trust department (i) the Definitive Warrant Certificate evidencing the Warrants
to be exercised, or, in the case of a Book- Entry Warrant Certificate, the Warrants to be exercised (the “Book-Entry
Warrants”) on the records of the Depositary to an account of the Warrant Agent at the Depositary designated for
such purposes in writing by the Warrant Agent to the Depositary from time to time, (ii) an election to purchase (“Election
to Purchase”) Ordinary Shares pursuant to the exercise of a Warrant, properly completed and executed by the Registered
Holder on the reverse of the Definitive Warrant Certificate or, in the case of a Book-Entry Warrant Certificate, properly delivered
by the Participant in accordance with the Depositary’s procedures, and (iii) payment in full of the Warrant Price for each
Ordinary Share as to which the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the
Warrant, the exchange of the Warrant for the Ordinary Shares and the issuance of such Ordinary Shares, as follows:

 

(a)          in lawful money of the United States, in good certified check or good bank draft payable to the Warrant Agent or by wire transfer
of immediately available funds;

 

		(b)	[Reserved];

 

(c)          with respect to any Private Placement Warrant or Working Capital Warrant, so long as such Private Placement Warrant or Working
Capital Warrant is held by the Sponsor or its Permitted Transferees, by surrendering the Warrants for that number of Ordinary
Shares equal to (i) if in connection with a redemption of Private Placement Warrants or Working Capital Warrants pursuant to Section
6.2 hereof, as provided in Section 6.2 hereof with respect to a Make-Whole Exercise (as defined below) and (ii) in
all other scenarios, the quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying the Warrants,
multiplied by the excess of the “Sponsor Exercise Fair Market Value” (as defined in this subsection 3.3.1(c)),
over the Warrant Price by (y) the Sponsor Exercise Fair Market Value. Solely for purposes of this subsection 3.3.1(c),
the “Sponsor Exercise Fair Market Value” shall mean the average last reported sale price of the Ordinary
Shares for the ten (10) trading days ending on the third trading day prior to the date on which notice of exercise of the Private
Placement Warrant or Working Capital Warrant is sent to the Warrant Agent;

 

		(d)	as
                                         provided in Section 6.2 hereof with respect to a Make-Whole Exercise; or

 

		(e)	as
                                         provided in Section 7.4 hereof.

 

3.3.2       Issuance of Ordinary Shares on Exercise. As soon as practicable after the exercise of any Warrant and the clearance of
the funds in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the
Registered Holder of such Warrant a book-entry position or certificate, as applicable, for the number of Ordinary Shares to which
he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant shall not
have been exercised in full, a new book- entry position or countersigned Warrant, as applicable, for the number of Ordinary Shares
as to which such Warrant shall not have been exercised. If fewer than all the Warrants evidenced by a Book-Entry Warrant Certificate
are exercised, a notation shall be made to the records maintained by the Depositary, its nominee for each Book-Entry Warrant Certificate,
or a Participant, as appropriate, evidencing the balance of the Warrants remaining after such exercise. Notwithstanding the foregoing,
the Company shall not be obligated to deliver any Ordinary Shares pursuant to the exercise of a Warrant and shall have no obligation
to settle such Warrant exercise unless a registration statement under the Securities Act with respect to the Ordinary Shares underlying
the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying
its obligations under Section 7.4. No Warrant shall be exercisable and the Company shall not be obligated to issue Ordinary
Shares upon exercise of a Warrant unless the Ordinary Shares issuable upon such Warrant exercise has been registered, qualified
or deemed to be exempt from registration or qualification under the securities laws of the state of residence of the Registered
Holder of the Warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect
to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant and such Warrant may have no value and
expire worthless, in which case the purchaser of a Unit containing such Public Warrants shall have paid the full purchase price
for the Unit solely for the Ordinary Shares underlying such Unit. In no event will the Company be required to net cash settle
the Warrant exercise. The Company may require holders of Public Warrants to settle the Warrant on a “cashless basis”
pursuant to Section 7.4. If, by reason of any exercise of Warrants on a “cashless basis”, the holder of any
Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in an Ordinary Share, the Company
shall round down to the nearest whole number, the number of Ordinary Shares to be issued to such holder.

 

3.3.3       Valid
Issuance. All Ordinary Shares issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly
issued, fully paid and non-assessable.

 

3.3.4       Date
of Issuance. Each person in whose name any book-entry position or certificate, as applicable, for Ordinary Shares is issued
shall for all purposes be deemed to have become the holder of record of such Ordinary Shares on the date on which the Warrant,
or book-entry position representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the
date of delivery of such certificate in the case of a certificated Warrant, except that, if the date of such surrender and payment
is a date when the share transfer books of the Company or book-entry system of the Warrant Agent are closed, such person shall
be deemed to have become the holder of such Ordinary Shares at the close of business on the next succeeding date on which the
share transfer books or book-entry system are open.

    5 

     

    

3.3.5     Maximum
Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the
provisions contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection
3.3.5 unless he, she or it makes such election. If the election is made by a holder, the Warrant Agent shall not effect
the exercise of the holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent
that after giving effect to such exercise, such person (together with such person’s affiliates), to the Warrant
Agent’s actual knowledge, would beneficially own in excess of 4.9% or 9.8% (or such other amount as a holder may
specify)(the “Maximum Percentage”) of the Ordinary Shares outstanding immediately after giving
effect to such exercise. For purposes of the foregoing sentence, the aggregate number of Ordinary Shares beneficially owned
by such person and its affiliates shall include the number of Ordinary Shares issuable upon exercise of the Warrant with
respect to which the determination of such sentence is being made, but shall exclude Ordinary Shares that would be issuable
upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates
and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially
owned by such person and its affiliates (including, without limitation, any convertible notes or convertible preferred shares
or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set
forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with
Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For purposes
of the Warrant, in determining the number of outstanding Ordinary Shares, the holder may rely on the number of
outstanding Ordinary Shares as reflected in (1) the Company’s most recent Annual Report on Form 10-K, Quarterly Report
on Form 10-Q, Current Report on Form 8-K or other public filing with the Commission as the case may be, (2) a more
recent public announcement by the Company or (3) any other notice by the Company or the Transfer Agent setting forth the
number of Ordinary Shares outstanding. For any reason at any time, upon the written request of the holder of the Warrant, the
Company shall, within two (2) Business Days, confirm orally and in writing to such holder the number of Ordinary Shares then
outstanding. In any case, the number of outstanding Ordinary Shares shall be determined after giving effect to the conversion
or exercise of equity securities of the Company by the holder and its affiliates since the date as of which such number of
outstanding Ordinary Shares was reported. By written notice to the Company, the holder of a Warrant may from time to time
increase or decrease the Maximum Percentage applicable to such holder to any other percentage specified in such notice; provided,
however, that any such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to
the Company.

 

		4.	Adjustments.

 

		4.1	Share
                                         Capitalizations.

 

4.1.1     Split-Ups. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding
Ordinary Shares is increased by a share capitalization payable in Ordinary Shares, or by a split-up of Ordinary Shares or other
similar event, then, on the effective date of such share capitalization, split-up or similar event, the number of Ordinary Shares
issuable on exercise of each Warrant shall be increased in proportion to such increase in the outstanding Ordinary Shares. A rights
offering to holders of the Ordinary Shares entitling holders to purchase Ordinary Shares at a price less than the “Historical
Fair Market Value” (as defined below) shall be deemed a share capitalization of a number of Ordinary Shares equal to the
product of (i) the number of Ordinary Shares actually sold in such rights offering (or issuable under any other equity securities
sold in such rights offering that are convertible into or exercisable for the Ordinary Shares) multiplied by (ii) one (1) minus
the quotient of (x) the price per Ordinary Share paid in such rights offering divided by (y) the Historical Fair Market Value.
For purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible into or exercisable for
Ordinary Shares, in determining the price payable for Ordinary Shares, there shall be taken into account any consideration received
for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Historical Fair Market
Value” means the volume weighted average price of the Ordinary Shares as reported during the ten (10) trading day
period ending on the trading day prior to the first date on which the Ordinary Shares trade on the applicable exchange or in the
applicable market, regular way, without the right to receive such rights.

 

4.1.2     Extraordinary
Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution
in cash, securities or other assets to the holders of the Ordinary Shares on account of such Ordinary Shares (or other shares
of the Company’s share capital into which the Warrants are convertible), other than (a) as described in subsection 4.1.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of the Ordinary
Shares in connection with a proposed initial Business Combination, (d) to satisfy the redemption rights of the holders of the
Ordinary Shares in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles
of association (as amended from time to time, the “Charter”) to modify the substance or timing of the
Company’s obligation to allow redemption in connection with our initial business combination or to redeem 100% of the Ordinary
Shares included in the Units sold in the Offering (the “Public Shares”) if the Company does not complete
the initial Business Combination within the period set forth in the Charter or with respect to any other provisions relating to
shareholders’ rights or pre-initial Business Combination activity or (e) in connection with the redemption of the Public
Shares included in the Units sold in the Offering upon the failure of the Company to complete its initial Business Combination
and any subsequent distribution of its assets upon its liquidation (any such non-excluded event being referred to herein as an
 “Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately after the
effective date of such Extraordinary Dividend, by the amount of cash and/or the fair market value (as determined by the Company’s
board of directors (the “Board”) in good faith) of any securities or other assets paid on each Ordinary
Share in respect of such Extraordinary Dividend. For purposes of this subsection 4.1.2, “Ordinary Cash Dividends”
means any cash dividend or cash distribution which, when combined on a per share basis with the per share amounts of all other
cash dividends and cash distributions paid on the Ordinary Shares during the 365-day period ending on the date of declaration
of such dividend or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections of this
Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to
the number of Ordinary Shares issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the
Units in the Offering).

    6 

     

    

		4.2	Aggregation
of Shares. If after the date hereof, and subject to the provisions of Section 4.6 hereof, the number of outstanding
Ordinary Shares is decreased by a consolidation, combination, reverse share split or reclassification of Ordinary Shares or other
similar event, then, on the effective date of such consolidation, combination, reverse share split, reclassification or similar
event, the number of Ordinary Shares issuable on exercise of each Warrant shall be decreased in proportion to such decrease in
outstanding Ordinary Shares.

  

		4.3	Adjustments
                                         in Warrant Price.

 

4.3.1        Whenever the number of Ordinary Shares purchasable upon the exercise of the Warrants is adjusted, as provided in subsection
4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price
immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of Ordinary Shares purchasable
upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of
Ordinary Shares so purchasable immediately thereafter.

 

4.3.2        If
(x) the Company issues additional Ordinary Shares or equity-linked securities for capital raising purposes in connection
with the closing of the initial Business Combination at an issue price or effective issue price of less than $9.20 per
Ordinary Share (with such issue price or effective issue price to be determined in good faith by the Board and, in the case
of any such issuance to the initial shareholders (as defined in the Prospectus) or their affiliates, without taking into
account any Class B Ordinary Shares (as defined below) held by such shareholders or their affiliates, as applicable, prior to
such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances
represent more than 60% of the total equity proceeds, and interest thereon, available for funding the initial Business
Combination on the date of the consummation of the initial Business Combination (net of redemptions), and (z) the volume
weighted average trading price of the Ordinary Shares during the twenty (20) trading day period starting on the trading day
prior to the day on which the Company consummates the Business Combination (such price, the “Market
Value”) is below $9.20 per share, the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115%
of the higher of the Market Value and the Newly Issued Price, the $18.00 per share redemption trigger price described in Section
6.1 and Section 6.2 shall be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value
and the Newly Issued Price and the $10.00 per share redemption trigger price described in Section 6.2 shall be
adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price.

    7 

     

    

4.4           Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Ordinary
Shares (other than a change under subsections 4.1.1 or 4.1.2 or Section 4.2 hereof or that
solely affects the par value of such Ordinary Shares), or in the case of any merger or consolidation of the Company with or
into another entity or conversion of the Company as another entity (other than a consolidation or merger in which the Company
is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding Ordinary
Shares), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the
Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the holders of the
Warrants shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified
in the Warrants and in lieu of the Ordinary Shares of the Company immediately theretofore purchasable and receivable upon the
exercise of the rights represented thereby, the kind and amount of shares or other securities or property (including cash)
receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale
or transfer, that the holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s)
immediately prior to such event (the “Alternative Issuance”); provided, however, that
(i) if the holders of the Ordinary Shares were entitled to exercise a right of election as to the kind or amount of
securities, cash or other assets receivable upon such consolidation or merger, then the kind and amount of securities, cash
or other assets constituting the Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be
the weighted average of the kind and amount received per share by the holders of the Ordinary Shares in such consolidation or
merger that affirmatively make such election, and (ii) if a tender, exchange or redemption offer shall have been made to and
accepted by the holders of the Ordinary Shares (other than a tender, exchange or redemption offer made by the Company in
connection with redemption rights held by shareholders of the Company as provided for in the Charter or as a result of the
redemption of Ordinary Shares by the Company if a proposed initial Business Combination is presented to the shareholders of
the Company for approval) under circumstances in which, upon completion of such tender or exchange offer, the maker thereof,
together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act (or any successor rule)) of
which such maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule
12b-2 under the Exchange Act (or any successor rule)) and any members of any such group of which any such affiliate or
associate is a part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act (or any successor rule)) more
than 50% of the outstanding Ordinary Shares, the holder of a Warrant shall be entitled to receive as the Alternative
Issuance, the highest amount of cash, securities or other property to which such holder would actually have been entitled as
a shareholder if such Warrant holder had exercised the Warrant prior to the expiration of such tender or exchange offer,
accepted such offer and all of the Ordinary Shares held by such holder had been purchased pursuant to such tender or exchange
offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as nearly equivalent as
possible to the adjustments provided for in this Section 4; provided further that if less than 70% of the
consideration receivable by the holders of the Ordinary Shares in the applicable event is payable in the form of ordinary
shares in the successor entity that is listed for trading on a national securities exchange or is quoted in an established
over-the-counter market, or is to be so listed for trading or quoted immediately following such event, and if the Registered
Holder properly exercises the Warrant within thirty (30) days following the public disclosure of the consummation of such
applicable event by the Company pursuant to a Current Report on Form 8-K filed with the Commission, the Warrant Price shall
be reduced by an amount (in dollars) equal to the difference (but in no event less than zero) of (i) the Warrant Price in
effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined below) minus (B) the Black-Scholes
Warrant Value (as defined below). The “Black-Scholes Warrant Value” means the value of a Warrant
immediately prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped American
Call on Bloomberg Financial Markets (“Bloomberg”).

 

For
purposes of calculating such amount, (1) Section 6 of this Agreement shall be taken into account, (2) the price of each
Ordinary Share shall be the volume weighted average price of the Ordinary Shares as reported during the ten (10)
trading day period ending on the trading day prior to the effective date of the applicable event, (3) the assumed volatility shall
be the 90 day volatility obtained from the HVT function on Bloomberg determined as of the trading day immediately prior to the
day of the announcement of the applicable event, and (4) the assumed risk-free interest rate shall correspond to the U.S. Treasury
rate for a period equal to the remaining term of the Warrant. “Per Share Consideration” means (i) if
the consideration paid to holders of the Ordinary Shares consists exclusively of cash, the amount of such cash per Ordinary Share,
and (ii) in all other cases, the volume weighted average price of the Ordinary Shares as reported during the ten (10) trading
day period ending on the trading day prior to the effective date of the applicable event. If any reclassification or reorganization
also results in a change in Ordinary Shares covered by subsection 4.1.1, then such adjustment
shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3 and this Section 4.4. The provisions of this
Section 4.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or
other transfers. In no event will the Warrant Price be reduced to less than the par value per share issuable upon exercise of
the Warrant.

    8 

     

    

4.5           Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of Ordinary Shares issuable upon
exercise of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant
Price resulting from such adjustment and the increase or decrease, if any, in the number of Ordinary Shares purchasable at such
price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such
calculation is based. Upon the occurrence of any event specified in Sections 4.1, 4.2, 4.3 or 4.4,
the Company shall give written notice of the occurrence of such event to each holder of a Warrant, at the last address set forth
for such holder in the Warrant Register, of the record date or the effective date of the event. Failure to give such notice, or
any defect therein, shall not affect the legality or validity of such event.

 

4.6           No Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not
issue fractional Ordinary Shares upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Section
4, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share,
the Company shall, upon such exercise, round down to the nearest whole number the number of Ordinary Shares to be issued to such
holder.

 

4.7           Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and
Warrants issued after such adjustment may state the same Warrant Price and the same number of Ordinary Shares as is stated in
the Warrants initially issued pursuant to this Agreement; provided, however, that the Company may at any time in its sole
discretion make any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance
thereof, and any Warrant thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant or
otherwise, may be in the form as so changed.

 

4.8           Other Events. In case any event shall occur affecting the Company as to which none of the provisions of the preceding subsections
of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order
to (i) avoid an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each
such case, the Company shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized
national standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants
is necessary to effectuate the intent and purpose of this Section 4 and, if they determine that an adjustment is necessary,
the terms of such adjustment. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment
recommended in such opinion.

 

4.9           No Adjustment. For the avoidance of doubt, no adjustment shall be made to the terms of the Warrants solely as a result
of an adjustment to the conversion ratio of the Company’s Class B ordinary shares (the “Class B Ordinary Shares”)
into Ordinary Shares or the conversion of the Class B Ordinary Shares into Ordinary Shares, in each case, pursuant to the Charter.

 

		5.	Transfer
                                         and Exchange of Warrants.

 

5.1           Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant
upon the Warrant Register, upon surrender of such Warrant for transfer, in the case of a certificated Warrant, properly endorsed
with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant
representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent.
In the case of certificated Warrants, the Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time
to time upon request.

 

5.2           Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for exchange
or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered
Holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that except
as otherwise provided herein or in any Book-Entry Warrant Certificate or Definitive Warrant Certificate, each Book-Entry Warrant
Certificate and Definitive Warrant Certificate may be transferred only in whole and only to the Depositary, to another nominee
of the Depositary, to a successor depository, or to a nominee of a successor depository; provided further, however, that
in the event that a Warrant surrendered for transfer bears a restrictive legend (as in the case of the Private Placement Warrants
and the Working Capital Warrants), the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange thereof
until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating
whether the new Warrants must also bear a restrictive legend.

    9 

     

    

5.3           Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which shall
result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units.

 

5.4           Service Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5           Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance
with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and
the Company, whenever required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly executed on behalf of the
Company for such purpose.

 

5.6           Transfer of Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with
the Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange
of such Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants
included in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.6 shall have no effect on any transfer
of Warrants on and after the Detachment Date.

 

		6.	Redemption.

 

6.1           Redemption of Warrants for Cash. Subject to Section 6.5 hereof, not less than all of the outstanding Warrants may
be redeemed, at the option of the Company, at any time during the Exercise Period, at the office of the Warrant Agent, upon notice
to the Registered Holders of the Warrants, as described in Section 6.3 below, at a Redemption Price of $0.01 per Warrant;
provided that (a) the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance with Section
4 hereof) and (b) there is an effective registration statement covering the Ordinary Shares issuable upon exercise of the
Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in Section
6.3 below).

 

6.2           Redemption of Warrants for Ordinary Shares. Subject to Section 6.5 hereof, not less than all of the outstanding
Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period, at the office of the Warrant Agent,
upon notice to the Registered Holders of the Warrants, as described in Section 6.3 below, at a Redemption Price of $0.10
per Warrant; provided that (i) the Reference Value equals or exceeds $10.00 per share (subject to adjustment in compliance
with Section 4 hereof) and (ii) if the Reference Value is less than $18.00 per share (subject to adjustment in compliance
with Section 4 hereof), the Private Placement Warrants and Working Capital Warrants are also concurrently called for redemption
on the same terms as the outstanding Public Warrants. During the 30-day Redemption Period in connection with a redemption pursuant
to this Section 6.2, Registered Holders of the Warrants may elect to exercise their Warrants on a “cashless basis”
pursuant to subsection 3.3.1 and receive a number of Ordinary Shares determined by reference to the table below, based
on the Redemption Date (calculated for purposes of the table as the period to expiration of the Warrants) and the “Redemption
Fair Market Value” (as such term is defined in this Section 6.2) (a “Make-Whole Exercise”).
Solely for purposes of this Section 6.2, the “Redemption Fair Market Value” shall mean the volume
weighted average price of the Ordinary Shares for the ten (10) trading days immediately following the date on which notice of
redemption pursuant to this Section 6.2 is sent to the Registered Holders. In connection with any redemption pursuant to
this Section 6.2, the Company shall provide the Registered Holders with the Redemption Fair Market Value no later than
one (1) Business Day after the ten (10) trading day period described above ends.

    10 

     

    

	 	 	Redemption Fair Market Value of Class A Ordinary Shares
	Redemption

 Date (period to 
 expiration of 
 warrants) 	 	≤$10.00
	 	$11.00
	 	$12.00
 
	 	$13.00
	 	$14.00
	 	$15.00
	 	$16.00
	 	$17.00 
	 	≥$18.00

	60 months	 	0.261	 	0.280	 	0.297	 	0.311	 	0.324	 	0.337	 	0.348	 	0.358	 	0.361
	57 months	 	0.257	 	0.277	 	0.294	 	0.310	 	0.324	 	0.337	 	0.348	 	0.358	 	0.361
	54 months	 	0.252	 	0.272	 	0.291	 	0.307	 	0.322	 	0.335	 	0.347	 	0.357	 	0.361
	51 months	 	0.246	 	0.268	 	0.287	 	0.304	 	0.320	 	0.333	 	0.346	 	0.357	 	0.361
	48 months	 	0.241	 	0.263	 	0.283	 	0.301	 	0.317	 	0.332	 	0.344	 	0.356	 	0.361
	45 months	 	0.235	 	0.258	 	0.279	 	0.298	 	0.315	 	0.330	 	0.343	 	0.356	 	0.361
	42 months	 	0.228	 	0.252	 	0.274	 	0.294	 	0.312	 	0.328	 	0.342	 	0.355	 	0.361
	39 months	 	0.221	 	0.246	 	0.269	 	0.290	 	0.309	 	0.325	 	0.340	 	0.354	 	0.361
	36 months	 	0.213	 	0.239	 	0.263	 	0.285	 	0.305	 	0.323	 	0.339	 	0.353	 	0.361
	33 months	 	0.205	 	0.232	 	0.257	 	0.280	 	0.301	 	0.320	 	0.337	 	0.352	 	0.361
	30 months	 	0.196	 	0.224	 	0.250	 	0.274	 	0.297	 	0.316	 	0.335	 	0.351	 	0.361
	27 months	 	0.185	 	0.214	 	0.242	 	0.268	 	0.291	 	0.313	 	0.332	 	0.350	 	0.361
	24 months	 	0.173	 	0.204	 	0.233	 	0.260	 	0.285	 	0.308	 	0.329	 	0.348	 	0.361
	21 months	 	0.161	 	0.193	 	0.223	 	0.252	 	0.279	 	0.304	 	0.326	 	0.347	 	0.361
	18 months	 	0.146	 	0.179	 	0.211	 	0.242	 	0.271	 	0.298	 	0.322	 	0.345	 	0.361
	15 months	 	0.130	 	0.164	 	0.197	 	0.230	 	0.262	 	0.291	 	0.317	 	0.342	 	0.361
	12 months	 	0.111	 	0.146	 	0.181	 	0.216	 	0.250	 	0.282	 	0.312	 	0.339	 	0.361
	9 months	 	0.090	 	0.125	 	0.162	 	0.199	 	0.237	 	0.272	 	0.305	 	0.336	 	0.361
	6 months	 	0.065	 	0.099	 	0.137	 	0.178	 	0.219	 	0.259	 	0.296	 	0.331	 	0.361
	3 months	 	0.034	 	0.065	 	0.104	 	0.150	 	0.197	 	0.243	 	0.286	 	0.326	 	0.361
	0 months	 	—	 	—	 	0.042	 	0.115	 	0.179	 	0.233	 	0.281	 	0.323	 	0.361

 

The
exact Redemption Fair Market Value and Redemption Date may not be set forth in the table above, in which case, if the Redemption
Fair Market Value is between two values in the table or the Redemption Date is between two redemption dates in the table, the
number of Ordinary Shares to be issued for each Warrant exercised in a Make-Whole Exercise will be determined by a straight-line
interpolation between the number of shares set forth for the higher and lower Redemption Fair Market Values and the earlier and
later redemption dates, as applicable, based on a 365- or 366-day year, as applicable.

 

The
share prices set forth in the column headings of the table above shall be adjusted as of any date on which the number of shares
issuable upon exercise of a Warrant or the Warrant Price is adjusted pursuant to Section 4 hereof. If the number of shares
issuable upon exercise of a Warrant is adjusted pursuant to Section 4 hereof, the adjusted share prices in the column headings
shall equal the share prices immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the number
of shares deliverable upon exercise of a Warrant immediately prior to such adjustment and the denominator of which is the number
of shares deliverable upon exercise of a Warrant as so adjusted. The number of shares in the table above shall be adjusted in
the same manner and at the same time as the number of shares issuable upon exercise of a Warrant. If the Warrant Price is adjusted,
(a) in the case of an adjustment pursuant to Section 4.3.2 hereof, the adjusted share prices in the column headings shall
equal the share prices immediately prior to such adjustment multiplied by a fraction, the numerator of which is the higher of
the Market Value and the Newly Issued Price and the denominator of which is $10.00 and (b) in the case of an adjustment pursuant
to Section 4.1.2 hereof, the adjusted share prices in the column headings shall equal the share prices immediately prior
to such adjustment less the decrease in the Warrant Price pursuant to such Warrant Price adjustment. In no event shall the number
of shares issued in connection with a Make- Whole Exercise exceed 0.361 Ordinary Shares per Warrant (subject to adjustment).

 

6.3         Date
Fixed for, and Notice of, Redemption; Redemption Price; Reference Value. In the event that the Company elects to redeem all
of the Warrants pursuant to Sections 6.1 or 6.2, the Company shall fix a date for the redemption (the “Redemption
Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than
thirty (30) days prior to the Redemption Date (such period, the “Redemption Period”) to the Registered
Holders of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed
in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder received
such notice. As used in this Agreement, (a) “Redemption Price” shall mean the price per Warrant at which
any Warrants are redeemed pursuant to Sections 6.1 or 6.2 and (b) “Reference Value” shall
mean the last reported sales price of the Ordinary Shares for any twenty (20) trading days within the thirty (30) trading-day
period ending on the third trading day prior to the date on which notice of the redemption is given.

    11 

     

    

6.4           Exercise After Notice of Redemption. The Warrants may be exercised for cash (or on a “cashless basis” in accordance
with Section 6.2 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant
to Section 6.3 hereof and prior to the Redemption Date. On and after the Redemption Date, the record holder of the Warrants
shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

6.5           Exclusion of Certain Warrants. The Company agrees that (a) the redemption rights provided in Section 6.1 hereof
shall not apply to the Private Placement Warrants or Working Capital Warrants if at the time of the redemption such Private Placement
Warrants or Working Capital Warrants continue to be held by the Sponsor or any of its Permitted Transferees and (b) if the Reference
Value equals or exceeds $18.00 per share (subject to adjustment in compliance with Section 4 hereof), the redemption rights
provided in Section 6.2 hereof shall not apply to the Private Placement Warrants or Working Capital Warrants if at the
time of the redemption such Private Placement Warrants or Working Capital Warrants continue to be held by the Sponsor or any of
its Permitted Transferees. However, once such Private Placement Warrants or Working Capital Warrants are transferred (other than
to Permitted Transferees in accordance with Section 2.6 hereof), the Company may redeem the Private Placement Warrants
and Working Capital Warrants pursuant to Section 6.1 or 6.2 hereof, provided that the criteria for redemption
are met, including the opportunity of the holder of such Private Placement Warrants or Working Capital Warrants to exercise the
Private Placement Warrants and the Working Capital Warrants prior to redemption pursuant to Section 6.4 hereof. The Private
Placement Warrants and Working Capital Warrants that are transferred to persons other than Permitted Transferees shall upon such
transfer cease to be Private Placement Warrants or Working Capital Warrants and shall become Public Warrants under this Agreement.

 

		7.	Other
                                         Provisions Relating to Rights of Holders of Warrants.

 

7.1          No Rights as Shareholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a shareholder
of the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive
rights to vote or to consent or to receive notice as shareholders in respect of the general meeting or the appointment of directors
of the Company or any other matter.

 

7.2          Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and
the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case
of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant
so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company,
whether or not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

7.3          Reservation of Ordinary Shares. The Company shall at all times reserve and keep available a number of its authorized but
unissued Ordinary Shares that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to
this Agreement.

 

7.4          Registration
of Ordinary Shares; Cashless Exercise at Company’s Option.

 

7.4.1       Registration
of the Ordinary Shares. The Company agrees that as soon as practicable, but in no event later than fifteen (15) Business Days
after the closing of its initial Business Combination, it shall use its commercially reasonable efforts to file with the Commission
a registration statement registering, under the Securities Act, the issuance of the Ordinary Shares issuable upon exercise of
the Warrants. The Company shall use its commercially reasonable efforts to cause the same to become effective and to maintain
the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the Warrants
in accordance with the provisions of this Agreement. If any such registration statement has not been declared effective by the
60th Business Day following the closing of the initial Business Combination, holders of the Warrants shall have the right, during
the period beginning on the 61st Business Day after the closing of the initial Business Combination and ending upon such registration
statement being declared effective by the Commission, and during any other period when the Company shall fail to have maintained
an effective registration statement covering the Ordinary Shares issuable upon exercise of the Warrants, to exercise such Warrants
on a “cashless basis,” by exchanging the Warrants (in accordance with Section 3(a)(9) of the Securities Act (or any
successor rule) or another exemption) for that number of Ordinary Shares equal to the lesser of (A) the quotient obtained by dividing
(x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the excess of the “Fair Market Value”
(as defined below) over the Warrant Price by (y) the Fair Market Value and (B) 0.361. Solely for purposes of this subsection
7.4.1, “Fair Market Value” shall mean the volume weighted average price of the Ordinary Shares as reported during
the ten (10) trading day period ending on the trading day prior to the date that notice of exercise is received by the Warrant
Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice of “cashless exercise”
is received by the Warrant Agent shall be conclusively determined by the Warrant Agent. In connection with the “cashless
exercise” of a Public Warrant, the Company shall, upon request, provide the Warrant Agent with an opinion of counsel for
the Company (which shall be an outside law firm with securities law experience) stating that (i) the exercise of the Warrants
on a “cashless basis” in accordance with this subsection 7.4.1 is not required to be registered under the Securities
Act and (ii) the Ordinary Shares issued upon such exercise shall be freely tradable under United States federal securities laws
by anyone who is not an affiliate (as such term is defined in Rule 144 under the Securities Act (or any successor rule)) of the
Company and, accordingly, shall not be required to bear a restrictive legend. Except as provided in subsection 7.4.2, for
the avoidance of any doubt, unless and until all of the Warrants have been exercised or have expired, the Company shall continue
to be obligated to comply with its registration obligations under the first three sentences of this subsection 7.4.1.

    12 

     

    

7.4.2       Cashless Exercise at Company’s Option. If the Ordinary Shares are at the time of any exercise of a Public Warrant
not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section
18(b)(1) of the Securities Act (or any successor rule), the Company may, at its option, require holders of Public Warrants who
exercise Public Warrants to exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9)
of the Securities Act (or any successor rule) as described in subsection 7.4.1 and (i) in the event the Company so elects,
the Company shall not be required to file or maintain in effect a registration statement for the registration, under the Securities
Act, of the Ordinary Shares issuable upon exercise of the Warrants, notwithstanding anything in this Agreement to the contrary
or (ii) if the Company does not so elect, the Company agrees to use its commercially reasonable efforts to register or qualify
for sale the Ordinary Shares issuable upon exercise of the Public Warrants under the applicable blue sky laws of the state of
residence of the exercising Public Warrant holder to the extent an exemption is not available.

 

		8.	Concerning
                                         the Warrant Agent and Other Matters.

 

8.1         Payment of Taxes. The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company
or the Warrant Agent in respect of the issuance or delivery of Ordinary Shares upon the exercise of the Warrants, but the Company
shall not be obligated to pay any transfer taxes in respect of the Warrants or such Ordinary Shares.

 

		8.2	Resignation,
                                         Consolidation, or Merger of Warrant Agent.

 

8.2.1     Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the
office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing
a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of
thirty (30) days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder
of a Warrant (who shall, with such notice, submit his, her or its Warrant for inspection by the Company), then the holder of any
Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment of a successor
Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall
be a corporation organized and existing under the laws of the State of New York, in good standing and having its principal office
in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise corporate trust powers and
subject to supervision or examination by federal or state authority. After appointment, any successor Warrant Agent shall be vested
with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect
as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary
or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring
to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request
of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for
more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities,
duties, and obligations.

    13 

     

    

8.2.2     Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice
thereof to the predecessor Warrant Agent and the Transfer Agent for the Ordinary Shares not later than the effective date of any
such appointment.

 

8.2.3     Merger or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may
be consolidated or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall
be the successor Warrant Agent under this Agreement without any further act.

 

		8.3	Fees
                                         and Expenses of Warrant Agent.

 

8.3.1     Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent
hereunder and shall, pursuant to its obligations under this Agreement, reimburse the Warrant Agent upon demand for all expenditures
that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

 

8.3.2     Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed,
acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the
Warrant Agent for the carrying out or performing of the provisions of this Agreement.

 

		8.4	Liability
                                         of Warrant Agent.

 

8.4.1    Reliance
on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it necessary
or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder,
such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively
proved and established by a statement signed by the Chief Executive Officer, Chief Financial Officer, President, Executive Vice
President, Vice President, Secretary or Chairman of the Board of the Company and delivered to the Warrant Agent. The Warrant Agent
may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement.

 

8.4.2    Indemnity. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith.
The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs
and reasonable counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement, except as a
result of the Warrant Agent’s gross negligence, willful misconduct or bad faith.

 

8.4.3     Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity
or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by
the Company of any covenant or condition contained in this Agreement or in any Warrant. The Warrant Agent shall not be responsible
to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount
of any such adjustment or the ascertaining of the existence of facts that would require any such adjustment; nor shall it by any
act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any Ordinary Shares to
be issued pursuant to this Agreement or any Warrant or as to whether any Ordinary Shares shall, when issued, be valid and fully
paid and non-assessable.

    14 

     

    

8.5           Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the
same upon the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect
to Warrants exercised and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase
of Ordinary Shares through the exercise of the Warrants.

 

8.6           Waiver. The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of
the date hereof, by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever. The Warrant Agent hereby
waives any and all Claims against the Trust Account and any and all rights to seek access to the Trust Account.

 

		9.	Miscellaneous
                                         Provisions.

 

9.1           Successors. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent
shall bind and inure to the benefit of their respective successors and assigns.

 

9.2           Notices. Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the
holder of any Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if
sent by certified mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed
(until another address is filed in writing by the Company with the Warrant Agent), as follows:

 

Aries
I Acquisition Corporation

23
Lime Tree Bay, P.O. Box 1569

Grand Cayman, Cayman Islands KY-1110

Attention: Randy Brinkley

 

Any
notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to
or on the Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified
mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another address
is filed in writing by the Warrant Agent with the Company), as follows:

 

Continental
Stock Transfer & Trust Company

One State Street, 30th Floor

New
York, NY 10004 

Attention:
Compliance Department

 

in each case, with copies to:

 

Winston
 & Strawn LLP

200 Park Avenue

New
York, NY 10166

Attn:
David A. Sakowitz, Esq.

Email:
dsakowitz@winston.com

 

and 

    15 

     

    

Wells
Fargo Securities, LLC

New York, New York 10001

Attn: Equity Syndicate

Fax:
(212) 214-5914

 

and

 

Kingswood
Capital Markets

17 Battery Place

New
York, NY 10004

Attention: Syndicate Desk

 

and

 

Proskauer
Rose LLP

Eleven Times Square

New
York, New York 10036

Attention Steven Burwell

Email:SBurwell@proskauer.com

 

9.3           Applicable Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in
all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the
application of the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against
it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York
or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which
jurisdiction shall be exclusive forum for any such action, proceeding or claim. The Company hereby waives any objection to such
exclusive jurisdiction and that such courts represent an inconvenient forum. Notwithstanding the foregoing, the provisions of
this paragraph will not apply to suits brought to enforce any liability or duty created by the Exchange Act or any other claim
for which the federal district courts of the United States of America are the sole and exclusive forum.

 

9.4           Persons Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any
person or corporation other than the parties hereto and the Registered Holders of the Warrants any right, remedy, or claim under
or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions,
stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties
hereto and their successors and assigns and of the Registered Holders of the Warrants.

 

9.5           Examination of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office
of the Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Warrant.
The Warrant Agent may require any such holder to submit such holder’s Warrant for inspection by the Warrant Agent.

 

9.6           Counterparts. This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts
shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

9.7           Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not
affect the interpretation thereof.

 

9.8           Amendments.
This Agreement may be amended by the parties hereto without the consent of any Registered Holder (i) for the purpose of curing
any ambiguity, or curing, correcting or supplementing any defective provision contained herein or adding or changing any other
provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and
that the parties deem shall not adversely affect the interest of the Registered Holders, and (ii) to provide for the delivery
of Alternative Issuance pursuant to Section 4.4. All other modifications or amendments, including any modification or amendment
to increase the Warrant Price or shorten the Exercise Period shall require the vote or written consent of the Registered Holders
of 50% of the number of the then outstanding Public Warrants and, solely with respect to any amendment to the terms of the Private
Placement Warrants or Working Capital Warrants or any provision of this Agreement with respect to the Private Placement Warrants
or Working Capital Warrants, 50% of the number of then outstanding Private Placement Warrants and Working Capital Warrants. Notwithstanding
the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1
and 3.2, respectively, without the consent of the Registered Holders.

    16 

     

    

9.9           Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision
hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore,
in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part
of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and
enforceable.

 

[Signature
Page Follows]

    17 

     

    

lN
WITNESS WHEREOF, the parties hereto have caused this
Agreement to be duly executed
as of the date first above
written.

 

	 	ARJES I
    ACQUISITION CORPORATION
	 	 	 
	 	By:	/s/ Randy Brinkley
	 	 	Name: Randy Brinkley
	 	 	Title: Chief Executive
    Officer

 

	 	CONTINENTAL STOCK TRANSFER &
    TRUST COMPANY, as Warrant Agent
	 	 	 
	 	By:	/s/ Erika Young
	 	 	Name: Erika Young   5/18/21
	 	 	Title: Vice President

 

[Signature
Page to Warrant Agreement]

     

     

    

EXHIBIT
A

 

Form
of Warrant Certificate

 

[FACE]

 

Number

 

Warrants

 

THIS
WARRANT SHALL BE VOID IF NOT EXERCISED PRIOR TO 

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

IN THE WARRANT AGREEMENT DESCRIBED
BELOW

 

ARIES
I ACQUISITION CORPORATION

 

Incorporated
Under the Laws of the Cayman Islands

 

CUSIP
                        

 

Warrant
Certificate

 

This
Warrant Certificate certifies
that                          ,
or registered assigns, is the registered holder of warrant(s) evidenced hereby (the “Warrants” and
each, a “Warrant”) to purchase Class A Ordinary Shares, $0.0001 par value per share (the
 “Ordinary Shares”), of Aries I Acquisition Corporation, a Cayman Islands exempted company (the
 “Company”). Each whole Warrant entitles the holder, upon exercise during the period set forth in
the Warrant Agreement referred to below, to receive from the Company that number of fully paid and non- assessable Ordinary
Shares as set forth below, at the exercise price (the “Warrant Price”) as determined pursuant to
the Warrant Agreement, payable in lawful money (or through “cashless exercise” as provided for in
the Warrant Agreement) of the United States of America upon surrender of this Warrant Certificate and payment of the Warrant
Price at the office or agency of the Warrant Agent referred to below, subject to the conditions set forth herein and in the
Warrant Agreement. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to
them in the Warrant Agreement.

 

Each
whole Warrant is initially exercisable for one fully paid and non-assessable Ordinary Share. No fractional shares will be issued
upon exercise of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in
an Ordinary Share, the Company will, upon exercise, round down to the nearest whole number the number of Ordinary Shares to be
issued to the Warrant holder. The number of Ordinary Shares issuable upon exercise of the Warrants is subject to adjustment upon
the occurrence of certain events set forth in the Warrant Agreement.

 

The
initial Warrant Price per Ordinary Share for any Warrant is equal to $11.50 per share. The Warrant Price is subject to adjustment
upon the occurrence of certain events set forth in the Warrant Agreement.

 

Subject
to the conditions set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the
extent not exercised by the end of such Exercise Period, such Warrants shall become void. The Warrants may be redeemed, subject
to certain conditions, as set forth in the Warrant Agreement.

 

Reference
is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions
shall for all purposes have the same effect as though fully set forth at this place.

     

     

    

This
Warrant Certificate shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.

 

This
Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York.

 

	 	ARIES I ACQUISITION CORPORATION
	 	 	 
	 	By:	       
	 	Name:	   
	 	Title:	 

 

	 	CONTINENTAL STOCK TRANSFER &
    TRUST COMPANY,

    as Warrant Agent
	 	 	 
	 	By:	        
	 	Name:	  
	 	Title:	  

    2 

     

    

[Form
of Warrant Certificate]

 

[Reverse]

 

The
Warrants evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on
exercise to receive Ordinary Shares and are issued or to be issued pursuant to a Warrant Agreement dated as of _________________, 2021 (the
 “Warrant Agreement”), duly executed and delivered by the Company to Continental Stock Transfer
 & Trust Company, a New York corporation, as warrant agent (the “Warrant Agent”), which Warrant
Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a
description of the rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the
Company and the holders (the words “holders” or “holder” meaning the
Registered Holders or Registered Holder, respectively) of the Warrants. A copy of the Warrant Agreement may be obtained by
the holder hereof upon written request to the Company. Defined terms used in this Warrant Certificate but not defined herein
shall have the meanings given to them in the Warrant Agreement.

 

Warrants
may be exercised at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by
this Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set
forth hereon properly completed and executed, together with payment of the Warrant Price as specified in the Warrant Agreement
(or through “cashless exercise” as provided for in the Warrant Agreement) at the principal corporate trust office
of the Warrant Agent. In the event that upon any exercise of Warrants evidenced hereby the number of Warrants exercised shall
be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its assignee,
a new Warrant Certificate evidencing the number of Warrants not exercised.

 

Notwithstanding
anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise
(i) a registration statement covering the Ordinary Shares to be issued upon exercise is effective under the Securities Act and
(ii) a prospectus thereunder relating to the Ordinary Shares is current, except through “cashless exercise” as provided
for in the Warrant Agreement.

 

The
Warrant Agreement provides that upon the occurrence of certain events the number of Ordinary Shares issuable upon exercise of
the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the
holder thereof would be entitled to receive a fractional interest in an Ordinary Share, the Company shall, upon exercise, round
down to the nearest whole number of Ordinary Shares to be issued to the holder of the Warrant.

 

Warrant
Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in
person or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations
provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or Warrant Certificates
of like tenor evidencing in the aggregate a like number of Warrants.

 

Upon
due presentation for registration of transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate
or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s)
in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except
for any tax or other governmental charge imposed in connection therewith.

 

The
Company and the Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate
(notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of
any distribution to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected
by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a
shareholder of the Company.

 

    3 

     

    

Election
to Purchase

(To
Be Executed Upon Exercise of Warrant)

 

The
undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive___ Ordinary Shares
and herewith tenders payment for such Ordinary Shares to the order of Aries I Acquisition Corporation (the “Company”)
in the amount of $                      in
accordance with the terms hereof. The undersigned requests that a certificate for such Ordinary Shares be registered in the name
of                           ,
whose address is                           and
that such Ordinary Shares be delivered to                           ,
whose address is                          .
If said number of Ordinary Shares is less than all of the Ordinary Shares purchasable hereunder, the undersigned requests that
a new Warrant Certificate representing the remaining balance of such Ordinary Shares be registered in the name of _________________,
whose address is _________________ and that such Warrant Certificate be delivered to                          , whose address is                          .

 

In
the event that the Warrant has been called for redemption by the Company pursuant to Section 6.2 of the Warrant Agreement
and a holder thereof elects to exercise its Warrant pursuant to a Make-Whole Exercise, the number of Ordinary Shares that this
Warrant is exercisable for shall be determined in accordance with subsection 3.3.1(c) or Section 6.2 of the Warrant
Agreement, as applicable.

 

In
the event that the Warrant is a Private Placement Warrant or a Working Capital Warrant that is to be exercised on a “cashless
basis” pursuant to subsection 3.3.1(c) of the Warrant Agreement, the number of Ordinary Shares that this Warrant
is exercisable for shall be determined in accordance with subsection 3.3.1(c) of the Warrant Agreement.

 

In
the event that the Warrant is to be exercised on a “cashless basis” pursuant to Section 7.4 of the Warrant
Agreement, the number of Ordinary Shares that this Warrant is exercisable for shall be determined in accordance with Section
7.4 of the Warrant Agreement.

 

In
the event that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the
number of Ordinary Shares that this Warrant is exercisable for would be determined in accordance with the relevant section of
the Warrant Agreement which allows for such cashless exercise and (ii) the holder hereof shall complete the following: The undersigned
hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions
of the Warrant Agreement, to receive Ordinary Shares. If said number of Ordinary Shares is less than all of the Ordinary Shares
purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate
representing the remaining balance of such Ordinary Shares be registered in the name of                          , whose address is                          and
that such Warrant Certificate be delivered to                          , whose address is                           .

 

[Signature
Page Follows]

    4 

     

    

	Date:                               ,
    20__ 	 
	 	Signature
	 	 
	 	 
	 	 
	 	 
	 	(Address)
	 	 
	 	 
	 	(Tax Identification Number)

 

Signature
Guaranteed:

 

 

 

THE
SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND
CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 UNDER THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (OR ANY SUCCESSOR RULE)).

    5 

     

    

EXHIBIT
B

 

LEGEND

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT
TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT BY AND AMONG ARIES I ACQUISITION CORPORATION (THE
 “COMPANY”), ARIES ACQUISITION PARNTERS, LTD. AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE
MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS
INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE
(AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

SECURITIES
EVIDENCED BY THIS CERTIFICATE AND CLASS A ORDINARY SHARES OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED
TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.”

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