Document:

Sublease

 Exhibit 10.25 
 SUBLEASE 
  

	1.	PARTIES. 

 This Sublease, dated August 30, 2005
is made between Innercool Therapies, Inc., formerly known as Neurothermia, Inc. (“Sublessor”), and ACADIA Pharmaceuticals Inc. (“Sublessee”). 
  

	2.	MASTER LEASE. 

 By way of an assignment, Sublessor
is the lessee under a written lease dated August 12, 1997 (“Lease Agreement”), as amended by the Assignment, Assumption and Consent with an effective date of October 2, 1999, Lease Amendment No. 1 dated as of October 2,
1999 and Lease Amendment No. 2 dated as of October 16, 2002 (collectively, the “Master Lease”), wherein Trustees of the Harris Family Revocable Trust (“Lessor”) leased to Sublessor the real property located in the City
of San Diego, County of San Diego, State of California, described as: 3931 Sorrento Valley Boulevard, San Diego, California, 92121 (“Master Premises”). The Assignment, Assumption and Consent (“Assignment Agreement”) was entered
into by and between Copper Mountain Networks, Inc. and Neurothermia, Inc. having an Effective Date of October 2, 1999. 
  

	3.	PREMISES. 

 Sublessor hereby subleases to Sublessee
on the terms and conditions set forth in this Sublease the following portion of the Master Premises: approximately 6,602 rentable square feet in a portion of the Building (the “Premises”) as shown on Exhibit “A.” The Suite
address for the Premises shall be Suite B. For the Sublease Term, Sublessor also grants to Sublessee an irrevocable license to enter and use shared areas in the IT/Telephone and Utilities rooms, identified on Exhibit A as “Shared Area”.
Without limiting Sublessee’s rights with respect to the Shared Area, Sublessee may enter the Shared Area to install and maintain equipment in and to the Shared Area. Sublessor shall maintain the Shared Area for its current use and function.

  

	4.	WARRANTY BY SUBLESSOR. 

 Sublessor warrants and
represents to Sublessee that the Master Lease is in full force and effect and that Sublessor is not now, and as of the commencement of the Term hereof will not be, in default or breach of any of the provisions of the Master Lease, and that Sublessor
has no knowledge of any claim by Lessor, as defined in the Master Lease, that Sublessor is in default or breach of any of the provisions of the Master Lease. Attached hereto as Exhibit “B” is a full and correct copy of the Master Lease.

  

 1. 

	5.	TERM. 

 The Sublease Term shall commence (the
“Commencement Date”) upon Lessor’s consent to this Sublease and delivery of possession of the Premises to Sublessee, estimated to be September 1, 2005. The actual Commencement Date shall be confirmed in writing between Sublessor
and Sublessee when all prerequisite events have occurred. The Sublease shall expire coterminous with the Master Lease on October 31, 2007. 
  

	6.	RENT. 

 The triple net Rent (referred to herein as
“Base Rent”) for the Sublease Term shall be $1.10 per rentable square foot and shall remain flat for the Term, (i.e., the rent shall be approximately $7,262.20 per month). 
 Rent shall be made payable to Innercool Therapies at 3931 Sorrento Valley Boulevard, San Diego, CA 92121 by the first of each month. Any payment of Rent
shall be delinquent if not received by the Sublessor by the first day of the month. If payment is not received before the close of normal business hours on the fifth day of the month, Sublessee agrees to pay, upon Sublessor’s written demand, a
late fee as provided in the Master Lease, and any such failure shall be a default, subject to the terms of the Master Lease as incorporated herein. 
  

	7.	ADDITIONAL PROVISIONS: 

  

	 	a)	Tenant Improvements: Sublessee shall fund, at its sole cost and expense, all tenant improvements which Sublessee elects to install in order to improve the Premises, provided,
however, Sublessee must submit all plans and construction costs to Sublessor and Lessor for approval prior to commencing the improvement pursuant to Article 6 of the Lease Agreement. Sublessee may construct a conduit (in accordance with the
specifications set forth in Exhibit B hereto) between the Premises and 3911 Sorrento Valley Boulevard, solely to provide connectivity for the Sublessee’s phone, computer and other information technology needs. 

  

	 	b)	Use: The Premises may be used for general office, biomedical research and development, manufacturing and such other uses as permitted under existing zoning.

  

 2. 

	 	c)	Furniture, Fixtures and Equipment: All fixed improvements previously made by Sublessor including, but not limited to, power drops, security system wiring, card access door
readers, IT wiring, all furniture and systems furniture shall remain in place for Sublessee’s use during the Term without charge. All artwork shall be removed by Sublessor. 

  

	 	d)	Utilities and HVAC: Sublessee shall be responsible for monthly utilities in the amount of $.15 per rentable square foot. The monthly utilities shall be approximately $990.30
per month, which shall be payable to Sublessor by the first of each month. Sublessee shall also be responsible for its share of the costs of Sublessor’s maintenance of utility equipment serving the Premises, including all HVAC equipment. Any
payment of monthly utilities shall be delinquent if not received by the Sublessor by the fifth day of the month, and Sublessee agrees to pay, upon Sublessor’s written demand, a late fee as provided in the Master Lease, and any such failure
shall be a default, subject to the terms of the Master Lease as incorporated herein. 

  

	 	e)	Taxes, Insurance & Common Area Costs: Sublessee shall be responsible for its prorata share of taxes, insurance, and common area costs (“Operating
Expenses”) payable by Sublessor under the Master Lease. The total cost is currently estimated at $4,990.00 per month, and Sublessee shall be responsible for 30% of this, or $1,497.00 per month, which shall be payable to Sublessor by the first
of each month. Any payment of estimated Operating Expenses shall be delinquent if not received by the Sublessor by the fifth day of the month, and Sublessee agrees to pay, upon Sublessor’s written demand, a late fee as provided in the Master
Lease, and any such failure shall be a default, subject to the terms of the Master Lease as incorporated herein. Upon any reconciliation of Property Operating Expenses under the Master Lease, Sublessor and Sublessee shall perform a comparable
reconciliation hereunder as provided in Paragraph 3.2 of the Master Lease. 

  

	 	f)	Termination Right: In the event that by December 31, 2005, Sublessee is unable to reach a commercially reasonable agreement on a lease extension with
Sublessee’s current landlord for the premises located at 3911 Sorrento Valley Boulevard, San Diego, CA 92121, Sublessee shall have a right to terminate this Sublease following not less than thirty (30) days prior written notice to
Sublessor. Should Sublessee exercise such right, Sublessee shall pay a release payment equal to the security deposit to Sublessor within thirty (30) days of such notice. 

  

 3. 

	 	g)	Parking: Sublessee shall be entitled to 28 parking spaces for the Sublease Term and extensions thereof. 

  

	 	h)	Signage: Sublessee shall have the right to install, at its sole cost and expense, standard directional signage per Paragraph 4.3 of the Lease Agreement and Paragraph 7
of the Lease Agreement No. 1. 

  

	 	i)	Right Regarding Additional Space: Should additional portions of the Master Premises become available during the Sublease Term, then Sublessor shall not offer or lease
such space to any third party not affiliated with Sublessor without first offering, in writing, to lease such space to Sublessee at then market terms for such space and Sublessee having waived such right. Sublessee shall have 10 days to exercise or
waive such offer after receiving written notice from Sublessor. If the parties are unable to agree as to market terms within 30 days following the exercise of Sublessee’s right, then either party may elect to submit such determination to
arbitration. If Sublessee fails to exercise its right to additional space, then Sublessor shall have the right to sublease such space to any third party on terms that are not materially more favorable to the sublessee than those negotiated with
Sublessee. 

  

	 	j)	Security: Sublessor shall provide their own security system. 

  

	 	k)	Building Warranty: Sublessor shall deliver the Premises to Sublessee with all HVAC, electrical lighting and plumbing serving the Premises in good working order on the
Commencement Date, but Sublessee is otherwise accepting the Premises as-is. 

  

	 	l)	Subleasing and Assignment: Pursuant to Article 7 of the Lease Agreement. 

  

	 	m)	Maintenance: Sublessor shall be responsible for HVAC maintenance contracts and all other maintenance obligations for the Premises pursuant to Paragraph 5.1(a) of the
Lease Agreement. Sublessee shall provide its own janitorial services. 

  

	 	n)	Advanced Rent/Security Deposit: Upon Sublease execution and delivery of Sublease, Sublessee shall deliver a check for the first month’s rent (i.e. $7,262.20) and
the deposit equal to three (3) month’s Rent (i.e., $21,786.60) (referred to herein as “Security Deposit”) for a total of $29,048.80. 

  

 4. 

	 	o)	Hazardous Materials: Pursuant to Article 16 of the Master Lease. 

  

	8.	OTHER PROVISIONS OF SUBLEASE. 

 All
applicable terms and conditions of the Master Lease are incorporated into and made a part of this Sublease as if Sublessor were the Lessor thereunder, Sublessee the Lessee thereunder, and the Premises the Master Premises. Sublessee assumes and
agrees to perform the Lessee’s obligations under the Master Lease during the Term to the extent that such obligations are applicable to the Premises and the Sublease Term, except that the obligation to pay rent to Lessor under the Master Lease
shall be considered performed by Sublessee to the extent and in the amount rent is paid to Sublessor in accordance with Section 6 of this Sublease. Neither Sublessor or Sublessee shall commit or suffer any act or omission that will violate any
of the provisions of the Master Lease. Notwithstanding the foregoing, the following provisions of the Master Lease are not incorporated herein: Lease Agreement Paragraph 3.7; Lease Amendment No. 1, Paragraphs 3, 5, 8, and 9; and Amendment
No. 2, Sections 3, 4, 5, and 6. 
  

	9.	ATTORNEYS’ FEES. 

 If Sublessor or
Sublessee shall commence legal action against the other arising out of or in connection with this Sublease, the prevailing party shall be entitled to recover its costs of suit and reasonable attorneys’ fees. 
  

	10.	AGENCY DISCLOSURE. 

 Sublessor and Sublessee
each warrant that they have dealt with no other real estate broker in connection with this transaction except Irving Hughes, who represents both Sublessor and Sublessee. Sublessor and Sublessee hereby confirm that they were timely advised of the
dual representation and that they consent to the same, and that they do not expect Irving Hughes to disclose to either of them the confidential information of the other party. 
  

	11.	COMMISSION. 

 Upon execution of this
Sublease, and consent thereto by Lessor, Sublessor shall pay Irving Hughes a real estate brokerage commission of five and a half percent (5.5%) of the aggregate rent payable under this Sublease over the Sublease Term. Sublessor shall pay such
commission upon all required executions of this Sublease and consent by Lessor and after the expiration of the termination right set forth in Paragraph 7(f) hereof. 
  

 5. 

	12.	NOTICES. 

 All notices, demands, requests,
consents, approvals or communications which may or are to be required or permitted to be given by any party or parties hereto hereunder shall be in writing and deemed communicated at the time of hand-delivery or three (3) business days after
time of mailing. All notices notices, demands, requests, consents, approvals or communications by the Sublessor to Sublessee shall be mailed or hand-delivered to the Sublessee at the Premises, or to such other place as Sublessee may from time to
time designate in a notice to the Sublessor. All notices and demands by the Sublessee to Sublessor shall be mailed or hand-delivered to the Sublessor at the address set forth above, and to such other person or place as the Sublessor may from time to
time designate in a notice to the Sublessee. 
  

	13.	SUBLESSEE PROTECTIONS. 

  

	 	a)	Sublessor hereby represents and warrants to Sublessee that (i) Sublessor is the tenant under the Master Lease and, to the best of Sublessor’s knowledge, there is no other
party who could claim any right, title or interest as tenant under the Master Lease, and (ii) Sublessor has the authority and has obtained all requisite approvals to enter into this Sublease. 

  

	 	b)	Sublessor covenants and agrees with Sublessee that upon Sublessee paying the rent reserved in this Sublease and observing and performing all of the other obligations of Sublessee
hereunder, Sublessee shall peaceably and quietly enjoy the Premises during the Sublease Term. 

  

	 	c)	Sublessor shall (i) pay, when and as due, all rent and other charges payable by Sublessor to Lessor under the Master Lease, and (ii) perform all other obligations of
Sublessor as the tenant under the Master Lease which are not assumed by Sublessee hereunder (collectively, “Sublessor’s Master Lease Obligations”). For example (and not by way of limitation), Sublessor shall at all times keep in full
force and effect all insurance required of Sublessor as Lessee under the Master Lease. If Sublessor shall fail to perform Sublessor’s Master Lease Obligations in a timely manner and such failure causes Sublessor to be in default of the Master
Lease, Sublessor shall advise Sublessee of such default and, Sublessee may, upon written notice to Sublessor, cure the default and receive reimbursement from Sublessor for the actual, reasonable costs of such cure within fifteen (15) business
days of furnishing proof of payment to Sublessor. 

  

 6. 

	 	d)	Sublessor agrees that it will not amend the Master Lease to increase the obligations of or to decrease the rights of or services to, Sublessee, nor voluntarily terminate without
cause as provided in the Master Lease with respect to the Premises, except upon prior written notice to and consent of Sublessee, which consent may not be unreasonably withheld. Sublessor agrees that it will not voluntarily terminate the Master
Lease for cause as provided in the Master Lease with respect to the Premises, except upon prior written notice to Sublessee. 

  

	 	e)	Sublessor shall indemnify, protect, defend with counsel reasonably acceptable to Sublessee and hold Sublessee harmless from and against any and all claims, liabilities, judgments,
causes of action, damages, costs and expenses (including reasonable attorneys’ and experts’ fees) (collectively referred to herein as “Claims”) to the extent such Claims arise from Sublessor’s default under the Master Lease.

  

	 	f)	Sublessor grants to Sublessee the right, so long as Sublessee is not in default, to receive all of the services and benefits with respect to the subleased Master Premises which are
to be provided by Lessor under the Master Lease for the subleased term. In the event of any default or failure of such performance by Lessor, Sublessor agrees that it will, upon notice from Sublessee, make demand upon Lessor to perform its
obligations under the Master Lease. Sublessor, however, shall have no obligation to sue the Lessor on Sublessee’s behalf or to terminate the Master Lease as a result of any such default or failure by Lessor. 

  

	14.	SUBLESSOR’S PROTECTIONS. 

  

	 	a)	Sublessee hereby represents and warrants to Sublessor that Sublessoee has the authority and has obtained all requisite approvals to enter into this Sublease.

  

	 	b)	Sublessee shall indemnify, protect, defend with counsel reasonably acceptable to Sublessor and hold Sublessor harmless from any claims in accordance with Paragraph 8.2 of the Master
Lease. 

  

 7. 

 Executed and effective on August 30, 2005 at 3931 Sorrento Valley Boulevard, San Diego, CA 92121. 
  

							
	SUBLESSOR:	 	SUBLESSEE:
				
	By:	 	Innercool Therapies, Inc.	 	By:	 	 ACADIA Pharmaceuticals Inc.
 a Delaware
corporation

				
	Name:	 	Michael Magers	 	Name:	 	[Illegible]
	Title:	 	President & COO	 	Title:	 	[Illegible]
	Date:	 	8/31/05	 	Date:	 	8/30/05

  

			
	 LESSOR:

	
	 E. G. SIRRAH, LLC,

	 a California limited liability company

		
	 Name:
	 	  

	 Title:
	 	  

	 Date:
	 	  

  

 8. 

 Exhibit A 
 

 

 Exhibit B 
 ACADIA PHARMACEUTICALS 
 Building 3911 to Bldg 3931 connectivity – Main point of Contact to Main Point
of Contact (MPOC to MPOC) 
 Provide and install, Bldg 3911: 
 4” PVC Conduit from Ceiling to Floor in MPOC; 
 Pull boxes connected to new PVC – ceiling & floor; 
 Glass panel replacement on Building Door-wall; 
 Outside Bldg 3911 to Bldg 3931 (see description below); 
 Provide and install as appropriate: Schedule USA/DigAlert for utilities I.D., 4” PVC conduit, connectors, radius bends, sawcut, core, concrete slurry; all equipment necessary for installation performance, traffic
control not provided by customer. 
 

 
 (l) Stoop-Bldg 3911 
 Remove
lower glass, install panel with 4” Sked80 PVC to floor mounted pull box, route PVC along outside concrete wall to terrace base. 
 (2) Terrace-3911 
 Excavate to (min) 24”, continue install 4” S80 PVC, refill
trench with native material. 
 (3) Driveway 
 Sawcut, excavate to 24”, continue install 4” S80 PVC, refill, cap to match existing surface with concrete slurry. 
 (4) Terrace-3931 
 Excavate to (min) 24”, continue install 4” S80 PVC, refill trench with native material. 
 (5) Stoop-Bldg 3931 
 Sawcut, excavate, core hole (inside floor), continue install 4” S80 PVC to terminate at 2” above floor level inside existing IDF, refill trench, cap to match
existing surface.EXHIBIT 4.5

 Exhibit 4.5 
 [Face of Global Note] 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN OR THEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF
SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION. 
  

 S-1 

 14% Senior Secured Note due 2011 
 No. 1 
 $32,000,000 
 GRANDE COMMUNICATIONS HOLDINGS, INC. promises to pay to Goldman, Sachs & Co., or its registered assigns, the principal sum of THIRTY-TWO MILLION
DOLLARS on April 1, 2011. 
  

							
	Interest Payment Dates:	 	April 1 and October 1	 		 	
				
	Record Dates:	 	March 15 and September 15	 		 	

 Dated:  March 24, 2006 
  

			
	 GRANDE COMMUNICATIONS HOLDINGS, INC.

		
	By:	 	  
		 	 Name:

		 	 Title:

 This is one of the Notes referred to in the within-mentioned Indenture: 
  

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  
		 	 Authorized Signatory

  

 S-2 

 [Back of Global Note] 
 14% Senior Secured Note due 2011 
 Capitalized terms used herein have the meanings assigned to them in the
Indenture referred to below unless otherwise indicated. 
 (1) Interest. Grande Communications Holdings, Inc., a Delaware corporation
(the “Company”), promises to pay interest on the principal amount of this Note at 14% per annum until maturity. The Company will pay interest semi-annually in arrears on April 1 and October 1 of each year, or if any such day is not a
Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance;
provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such
next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be October 1, 2006. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue
principal and premium, if any, from time to time on demand at a rate that is 0.50% per annum in excess of the rate then in effect; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue
installments of interest (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 
 (2) Method of Payment. The Company will pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders of Notes
at the close of business on the March 15 or September 15 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the
Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium and interest at the office or agency of the Company maintained for such purpose within or without the City and State of New York, or, at the option of
the Company, payment of interest may be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds will be required with respect to principal of
and interest and premium on all Notes the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment will be in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. 
 (3) Paying Agent and Registrar. Initially, U.S. Bank National Association,
the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder; provided, however, that the Company shall at all times maintain a
Paying Agent office. The Company or any of its Subsidiaries may act in any such capacity. 
 (4) Indenture and Security Documents. The
Company issued the Notes under an Indenture dated as of March 23, 2004 (the “Indenture”) among the Company, the Guarantors and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of 

  

 R-1 

 
the Indenture by reference to the TIA. The Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of such
terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are secured by a pledge of the Collateral pursuant to the Security
Documents referred to in the Indenture. 
 (5) Optional Redemption. 
 (a) Except as set forth in subparagraph (b) of this Paragraph 5, the Company will not have the option to redeem the Notes prior to April
1, 2008. On or after April 1, 2008, the Company may redeem all or a part of the Notes upon not less than 10 days’ nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus
accrued and unpaid interest on the Notes redeemed to the applicable redemption date, if redeemed during the twelve-month period beginning on April 1 of the years indicated below, subject to the rights of Holders on the relevant record date to
receive interest on the relevant interest payment date: 
  

				
	 Year
	  	Percentage	 
	 2008
	  	107.000	%
	 2009
	  	103.500	%
	 2010 and thereafter
	  	100.000	%

 Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on the notes or
portions thereof called for redemption on the applicable redemption date. 
 (b) Notwithstanding the provisions of
subparagraph (a) of this Paragraph 5, at any time prior to April 1, 2007, the Company may on any one or more occasions redeem Notes issued under the Indenture at a redemption price of 114% of the principal amount thereof, plus accrued and unpaid
interest to the redemption date, with the net cash proceeds of one or more Equity Offerings; provided that at least 65% of the aggregate principal amount of Initial Notes originally issued under the Indenture on the Issue Date (excluding Notes held
by the Company and its Subsidiaries) remains outstanding immediately after the occurrence of such redemption and the redemption occurs within 90 days of the date of the closing of such Equity Offering. 
 (6) Mandatory Redemption. The Company will not be required to make mandatory redemption or sinking fund payments with respect to the Notes.

 (7) Repurchase at the Option of Holder. 
 (a) If there is a Change of Control, the Company will be required to make an offer (a “Change of Control Offer”) to each Holder
to repurchase all or any part (equal to $1,000 or an integral multiple of $1,000) of each Holder’s Notes at a purchase price equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest on the Notes
repurchased to the date of purchase, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date (the “Change of Control Payment”). Within 30 days following any Change of
Control, the Company will mail a notice to 

  

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each Holder setting forth the procedures governing the Change of Control Offer as required by the Indenture. 
 (b) If the Company or a Restricted Subsidiary of the Company consummates any Asset Sales, within twenty days of each date on which the
aggregate amount of Excess Proceeds exceeds $10.0 million, the Company will commence an offer to all Holders of Notes and all holders of other Indebtedness that is pari passu with the Notes containing provisions similar to those set forth in
the Indenture with respect to offers to purchase or redeem with the proceeds of sales of assets (an “Asset Sale Offer”) in accordance with Section 4.10 of the Indenture to purchase the maximum principal amount of Notes and such other
pari passu Indebtedness that may be purchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof plus accrued and unpaid interest to the date of purchase, in accordance with
the procedures set forth in the Indenture. If any Excess Proceeds remain unapplied after consumption of an Asset Sale Offer, the Company and its Restricted Subsidiaries may use those Excess Proceeds for any purpose not otherwise prohibited by the
Indenture. If the aggregate principal amount of Notes and other pari passu Indebtedness surrendered by holders thereof exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and other pari passu Indebtedness to be
purchased on a pro rata basis. Holders of Notes that are the subject of an offer to purchase will receive notice of an Asset Sale Offer from the Company prior to any related purchase date and may elect to have such Notes purchased by completing the
form entitled “Option of Holder to Elect Purchase” attached to the Notes. 
 (8) Notice of Redemption. Notice of redemption
will be mailed at least 10 days but not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date
if the notice is issued in connection with a defeasance of the Notes or a satisfaction or discharge of the Indenture. Notes in denominations larger than $1,000 may be redeemed in part but only in whole multiples of $1,000, unless all of the Notes
held by a Holder are to be redeemed. On and after the redemption date interest ceases to accrue on Notes or portions thereof called for redemption. 
 (9) Denominations, Transfer, Exchange. The Notes are in registered form without coupons in denominations of $1,000 and integral multiples of $1,000. The transfer of Notes may be registered and Notes may be exchanged as provided in
the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the
Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or register the
transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date. 
 (10) Persons Deemed Owners. The registered Holder of a Note may be treated as its owner for all purposes. 
 (11) Amendment, Supplement and Waiver. Subject to certain exceptions, the Indenture, the Guarantees or the Notes may be amended or supplemented
with the consent of the 

  

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Holders of at least a majority in principal amount of the then outstanding Notes and Additional Notes, if any, voting as a single class, and any existing
Default or Event of Default or compliance with any provision of the Indenture, the Subsidiary Guarantees or the Notes may be waived with the consent of the Holders of a majority in principal amount of the then outstanding Notes voting as a single
class. Without the consent of any Holder of a Note, the Indenture, the Subsidiary Guarantees or the Notes may be amended or supplemented to cure any ambiguity, defect or inconsistency, to provide for uncertificated Notes in addition to or in place
of certificated Notes, to provide for the assumption of the Company’s or any Guarantor’s obligations to Holders of the Notes and Subsidiary Guarantees in case of a merger or consolidation or sale of all or substantially all of the
Company’s or such Guarantor’s assets, as applicable, to effect the release of a Guarantor from its Subsidiary Guarantee and the termination of such Subsidiary Guarantee, all in accordance with the provisions of the Indenture governing such
release and termination, to add any Subsidiary Guarantees or to secure the Notes or any Subsidiary Guarantees, to make any change that would provide any additional rights or benefits to the Holders of Notes or that does not adversely affect the
legal rights under the Indenture of any such Holder, to comply with the requirements of the SEC in order to effect or maintain the qualification of the Indenture under the TIA, to conform the text of the Indenture or the Notes to any provision of
the “Description of Notes” section of the Company’s Offering Memorandum dated March 9, 2004 relating to the initial offering of the Notes, to the extent that such provision in that “Description of Notes” was intended to be a
verbatim recitation of a provision of the Indenture, the Subsidiary Guarantees or the Notes, or to provide for a successor Trustee in accordance with the provisions of the Indenture. 
 (12) Defaults and Remedies. Events of Default include: (i) default for 30 days in the payment when due of interest on the Notes; (ii) default in
the payment when due (at maturity, upon redemption or otherwise) of the principal of, or premium, if any, on the Notes; (iii) failure by the Company to comply with its obligations under Section 5.01 of the Indenture or to consummate a purchase of
Notes when required pursuant to Sections 4.10 or 4.15 of the Indenture; (iv) failure by the Company or any of its Restricted Subsidiaries for 30 days after notice by the Trustee or the Holders of at least 25% in aggregate principal amount of the
then outstanding Notes to comply with the provisions of Sections 4.07 or 4.09 of the Indenture or to comply with the provisions of Sections 4.10 or 4.15 of the Indenture to the extent not described in clause (iii) above; (v) failure by the Company
or any of its Restricted Subsidiaries for 60 days after notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the then outstanding Notes to comply with any of the other agreements in the Indenture, the
Notes or the Security Documents; (vi) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted
Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted Subsidiaries) whether such Indebtedness or guarantee now exists, or is created after the Issue Date, if that default: (a) is caused by a failure to pay
principal of, or interest or premium, if any, on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness on the date of such default (a “Payment Default”); or (b) results in the acceleration of such
Indebtedness prior to its express maturity, and, in each case, (x) the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which
has been so accelerated, aggregates $10.0 million or more and (y) such default shall have not have been remedied, cured or waived by the holders of the 

  

 R-4 

 
relevant Indebtedness within 60 days after such default; (vii) any final judgment or decree (to the extent not covered by insurance) for the payment of money
in excess of $10.0 million is entered against the Company or any of its Restricted Subsidiaries and is not paid or discharged, and there is any period of 60 consecutive days following entry of such final judgment or decree during which a stay of
enforcement of such final judgment or decree, by reason of pending appeal or otherwise, is not in effect; (viii) except as permitted by the Indenture, any Subsidiary Guarantee is held in any judicial proceeding to be unenforceable or invalid or
ceases for any reason to be in full force and effect or any Guarantor denies or disaffirms its obligations under its Subsidiary Guarantee; (ix) the Company, any Significant Subsidiary of the Company or any group of Restricted Subsidiaries that,
taken together, would constitute a Significant Subsidiary: (a) commences a voluntary case under any Bankruptcy Law, (b) consents to the entry of an order for relief against it or them in an involuntary case, (c) consents to the appointment of a
custodian or receiver of it or them or for all or substantially all of its or their property, (d) makes a general assignment for the benefit of its or their creditors, (e) consents to or acquiesces in the institution of a bankruptcy or an insolvency
proceeding against it or them, or (f) takes any corporate action to authorize or effect any of the foregoing; (x) a court of competent of competent jurisdiction enters an order or decree under any Bankruptcy Law that: (a) is for relief in an
involuntary case against the Company, any Significant Subsidiary of the Company or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary; (b) appoints a custodian or receiver of the Company, any
Significant Subsidiary of the Company or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary or for all or substantially all of the property of any of the foregoing; or (c) orders the liquidation of
the Company, any Significant Subsidiary of the Company or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary, and the order or decree remains unstayed and in effect for 60 days; (xi) certain events
of bankruptcy or insolvency described in the Indenture with respect to the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would constitute a Significant
Subsidiary; and (xii)(a) default by the Company or any Guarantor in the performance of the Security Documents which could reasonably be expected to adversely affect the enforceability, validity, perfection or priority of the Note Liens or which
could reasonably be expected to adversely affect the condition or value of the Collateral, in each case, taken as a whole, in any material respect, (b) repudiation or disaffirmation by the Company or any of such Guarantors of its or their
obligations under the Security Documents or (c) the determination in a judicial proceeding that all or any material portion of the Security Documents, taken as a whole, are unenforceable or invalid, for any reason, against the Company or any of the
Guarantors. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Notes may declare all the Notes to be due and payable immediately. Notwithstanding the foregoing, in
the case of an Event of Default arising from certain events of bankruptcy or insolvency described in clause (xi) above, all outstanding Notes will become due and payable immediately without further action or notice (subject to applicable law).
Holders may not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or
power. The Trustee may withhold from Holders of the Notes notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal of, premium or interest on, any Note) if it in good faith
determines that withholding notice is in their interest. The Holders of a majority in 

  

 R-5 

 
aggregate principal amount of the then outstanding Notes by written notice to the Trustee may, on behalf of all of the Holders, rescind an acceleration and
its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest or premium that has become due solely because of the acceleration) have been cured or
waived. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement
specifying such Default or Event of Default. 
 (13) Trustee Dealings With Company. The Trustee, in its individual or any other
capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 
 (14) No Recourse Against Others. A director, officer, employee, incorporator or stockholder, of the Company or any of the Guarantors, as such,
will not have any liability for any obligations of the Company or such Guarantor under the Notes, the Subsidiary Guarantees or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder
by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 
 (15) Authentication. This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. 
 (16) Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right
of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 (17) Governing Law.
THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE SUBSIDIARY GUARANTEES. 
 The
Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 
 Grande Communications Holdings, Inc. 
 401 Carlson Circle 
 San Marcos, Texas 78666 
 Telecopier No.: (512) 878-4010 
 Attention: Chief Financial Officer 
  

 R-6 

 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Note to:	 	  
		 	(Insert assignee’s legal name)

  

					
		 	  	 	
		 	(Insert assignee’s soc. sec. or tax I.D. no.)	 	
		 	  	 	
			
		 	  	 	
			
		 	  	 	
			
		 	  	 	
			
		 	  	 	
		 	(Print or type assignee’s name, address and zip code)	 	

 and irrevocably appoint ___________________________________________ to transfer this Note on the books of the
Company. The agent may substitute another to act for him. 
 Date:                                     
    
 Your
Signature:                                      
   
 (Sign exactly as your name appears on the face of this Note) 
 Signature
Guarantee*:                                 

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  

 R-7 

 OPTION OF HOLDER TO ELECT PURCHASE 
 If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 or 4.15 of the Indenture, check the appropriate box below:

  ̈ Section 4.10  ̈ Section 4.15 
 If you want to elect to have
only part of the Note purchased by the Company pursuant to Section 4.10 or Section 4.15 of the Indenture, state the amount you elect to have purchased: 
 $______________________ 
 Date: 
 Your Signature:
                                        
                     
 (Sign exactly as your name
appears on the face of this Note) 
  

			
	 Tax Identification No.:
	 	  
	
	 Signature Guarantee*:

		
	   	 	   

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  

 R-8 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE NOTE 
 The following exchanges of a part of this Note for an interest in another Note, or exchanges of a part of another Note for an interest in this Note, have
been made: 
  

									
	 Date of
 Exchange
	  	 Amount of
 decrease in
 Principal
 Amount of this
 Note
	  	 Amount of
 increase in
 Principal
 Amount of this
 Note
	  	 Principal
 Amount of this
 Note following
 such decrease (or
 increase)
	  	 Signature of
 authorized
 officer of Trustee
 or Custodian

		  		  		  		  	

  

 R-1 

 SUBSIDIARY GUARANTEE NOTATION 
 For value received, each Guarantor (which term includes any successor Person under the Indenture) has, jointly and severally, unconditionally guaranteed,
to the extent set forth in the Indenture and subject to the provisions in the Indenture dated as of March 23, 2004 (the “Indenture”) among Grande Communications Holdings, Inc. (the “Company”), the Guarantors party thereto and
U.S. Bank National Association, as trustee (the “Trustee”), (a) the due and punctual payment of the principal of, premium and interest on, the Notes, whether at maturity, by acceleration, redemption or otherwise, the due and punctual
payment of interest on overdue principal of and interest on the Notes, if any, if lawful, and the due and punctual performance of all other obligations of the Company to the Holders or the Trustee all in accordance with the terms of the Indenture
and (b) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at
stated maturity, by acceleration or otherwise. The obligations of the Guarantors to the Holders of Notes and to the Trustee pursuant to the Subsidiary Guarantee and the Indenture are expressly set forth in Article 10 of the Indenture and reference
is hereby made to the Indenture for the precise terms of the Subsidiary Guarantee. Each Holder of a Note, by accepting the same agrees to and shall be bound by such provisions. 
  

 G-1 

 Capitalized terms used but not defined herein have the meanings given to them in the Indenture.

  

			
	GRANDE COMMUNICATIONS NETWORKS, INC.
		
	BY:	 	  
		 	 NAME:

		 	 TITLE:

  

 G-2

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