Document:

Lease, dated June 11, 2004 (2020 Cambourne Business Park)

 Exhibit 10.27 
  
 DATED 11 June 2004 
  

	 	(1)	 	CGNU LIFE ASSURANCE LIMITED 

  

	 	(2)	 	CAMBRIDGE DISPLAY TECHNOLOGY LIMITED 

  
  

  
 L E A S E 
  
 of office premises on the First Floor West Wing of 
 Building 2020, Cambourne Business Park 
  

  

 LEASE PARTICULARS 
  

							
	 	 	 	 
	1	 	Date	  	:	  	 11 June 2004
  

				
	2	 	 Parties
	  	 	  	 
				
	2.1	 	 Landlord
	  	:	  	 CGNU Life Assurance Limited (Company Number 226742) whose registered office is at 2 Rougier Street,
York Y090 1UU
  

				
	2.2	 	 Tenant
	  	:	  	 Cambridge Display Technology Limited (Company number 2672530) whose registered office is at Greenwich
House Madingley Rise Cambridge CB3 0TX
  

				
	3	 	 Building
	  	:	  	 the building known as Building Number 2020, Cambourne Business Park and shown edged blue on plan 1 annexed
and comprising part of the land and buildings owned by the Landlord and registered under title number CB243700
  

				
	4	 	 Premises
	  	:	  	 the West Wing of the First Floor of the Building shown edged red on plan 2 annexed
  

				
	5	 	 Contractual Term
	  	:	  	 Ten years from and including
  

				
	6	 	 Principal Rent
	  	:	  	 £133,650 (One hundred and thirty three thousand six hundred and fifty pounds)
  

				
	7	 	 Rent Commencement Date
	  	:	  	 25 June 2005
  

				
	8	 	 Review Date
	  	:	  	 the                  of
                         2009
  

				
	9	 	 Permitted Use
	  	:	  	 offices (other than serviced offices) within Class B1(a) in the Schedule to the 1987 Order
  

  

 2 

 This Lease made on the date and between the parties specified in the Particulars Witnesses as follows:

  

	1	 	Definitions 

  
 In this Lease unless the context otherwise requires: 
  
 Access Road means the road from the A428 leading to the Estate which is shown coloured brown on plan 1 annexed; 
  
 Adjoining Property means any adjoining or neighbouring premises in
which the Landlord and/or Management Company holds or shall at any time during the Term hold a freehold or leasehold interest; 
  
 Arbitration means arbitration in accordance with Clause 7.4; 
  
 Base Rate means the base rate from time to time of Barclays Bank PLC or (if not available) such comparable rate of
interest as the Landlord shall reasonably require; 
  
 Building means the building described in the Particulars and includes any part of it and any alteration or addition to it or replacement of it; 
  

Building Services means the services provided by the Landlord in relation to the Building as set out in Part III of the Fourth Schedule;

  
 Common Parts means the accesses, lifts and other areas
of the Building from time to time designated by the Landlord for common use by the tenants and occupiers of the Building; 
  
 Conduit means any existing or future media for the passage of substances or energy and any ancillary apparatus attached to them and any enclosures
for them; 
  
 Contractual Term means the term specified in
the Particulars; 
  
 Developer means Cambourne Business
Park Limited (Company number 3618543) whose registered office is at Portland House, Stag Place, London SW1E 5DS 
  
 Encumbrances means the obligations and encumbrances contained or referred to in the documents specified in Part III of the First Schedule to the
extent that they affect the Premises; 
  
 Estate means the
freehold land known or to be known as Cambourne Business Park and the buildings from time to time standing on it shown edged red on plan 3 annexed together with any other adjoining land which is incorporated into Cambourne Business Park; 

 
 Estate Common Areas means the following parts of the Estate which
are or are intended to be for the benefit or amenity of all the owners and occupiers of the Estate: 
  

	 	(i)	 	the main roads, footpaths, pedestrian areas and cycle ways, road lighting, road signs and signals; 

  

	 	(ii)	 	any water features irrigation systems, landscaped areas and other amenities; 

  

	 	(iii)	 	any part of the Estate reserved for the housing of machinery or equipment in connection with or required for the provision of any of the Estate Services; 

 

	 	(iv)	 	any estate management office, landscape compound or ancillary buildings; 

  

	 	(v)	 	all Conduits, balancing ponds and other things related to services in upon over or under or serving the Estate; 

  

	 	(vi)	 	all party structures, boundary walls, railings and fences of (or used in common with the owners of any premises adjoining or neighbouring) the Estate; 

  

	 	(vii)	 	all signage; and 

  

	 	(viii)	 	all other areas or amenities on the Estate or outside the Estate but serving or otherwise being for the benefit of the Estate as a whole which are from time to

  

 1 

 time provided or designated for the common amenity or benefit of the owners or occupiers of the Estate;

  
 Estate Services means the services provided or
procured by the Landlord in relation to the Estate (excluding the Phase) as set out in Part II of the Fourth Schedule; 
  
 Group Company means a company which is a member of the same group of companies within the meaning of Section 42 of the Landlord and Tenant Act
1954; 
  
 Insured Risks means fire, lightning, earthquake,
explosion, aircraft (other than hostile aircraft) and other aerial devices or articles dropped therefrom, riot, civil commotion, malicious damage, storm or tempest, bursting or overflowing of water tanks apparatus or pipes, flood, impact by road
vehicles and terrorism (to the extent that insurance against such risks may ordinarily be arranged with an insurer of good repute) and such other risks or insurance as may from time to time be required by the Landlord (subject in all cases to such
exclusions and limitations as may be imposed by the insurers), and Insured Risk means any one of them; 
  
 Landlord means the person so named in the Particulars and includes any other person entitled to the immediate reversion to this Lease; 

 
 Landlord’s Surveyor means the Landlord’s Surveyor or
managing agent (who may be an employee of the Landlord) Provided that where such a person is not an employee of the Landlord such person is or is a member of a firm where a majority of the partners are Fellows or Associates of the Royal Institute of
Chartered Surveyors; 
  
 Lettable Units means any part of
the Building which is let, or constructed or adapted for letting, from time to time; 
  
 Management Company means Cambourne Business Park Management Limited (Company No 03894720) the company formed to provide the Services and whose shares are or will be owned by the freehold and/or
long leasehold owners for the time being of the whole or parts of the Estate; 
  
 this Lease means this lease and any document supplemental to it or entered into pursuant to it; 
  
 Particulars means the descriptions and terms on the page headed Lease Particulars which form part of this Lease; 
  
 Phase means the part of the Estate in which the Premises are situated
and shown edged red on plan 1 annexed Provided That the Landlord shall be entitled to adjust the boundaries of the Phase by notice in writing to the Tenant; 
  
 Phase Common Areas means the following parts of the Phase which are or are intended to be for the benefit or amenity
of all the owners and occupiers of the Phase: 
  

	 	(i)	 	the roads, footpaths, pedestrian areas and cycle ways, road lighting, road signs and signals; 

  

	 	(ii)	 	any water features irrigation systems, landscaped areas and other amenities; 

  

	 	(iii)	 	any part of the Phase reserved for the housing of machinery or equipment in connection with or required for the provision of any of the Phase Services; 

  

	 	(iv)	 	any landscape compound or ancillary buildings; 

  

	 	(v)	 	all Conduits, balancing ponds and other things related to services in upon over or under or serving the Phase; 

  

	 	(vi)	 	all party structures, boundary walls, railings and fences of (or used in common with the owners of any premises adjoining or neighbouring) the Phase; 

  

	 	(vii)	 	all signage; and 

  

 2 

	 	(viii)	 	all other areas or amenities on the Phase or outside the Phase but serving or otherwise being for the benefit of the Phase as a whole which are from time to time provided or
designated for the common amenity or benefit of the owners or occupiers of the Phase; 

  
 Phase Services means the services provided or procured by the Landlord in relation to the Phase (excluding the remainder of the Estate) set out in
Part II of the Fourth Schedule; 
  
 Planning Acts means
the Town and Country Planning Act 1990, the Planning (Listed Buildings and Conservation Areas) Act 1990, the Planning (Hazardous Substances) Act 1990 and the Planning (Consequential Provisions) Act 1990; 
  
 Premises means the premises described in the Particulars and includes
any part of them any alteration or addition to them and any fixtures and fittings, plant and machinery in or on them and includes: 
  

	 	(i)	 	the floorboards, screed, plaster and other finishes on the floors, walls, columns and ceilings, and all carpets; 

  

	 	(ii)	 	the raised floors and false ceilings (including light fittings), and the voids between the ceilings and false ceilings and the floor slab and the raised floors;

  

	 	(iii)	 	non-load bearing walls and columns in the Premises and one half of the thickness of such walls dividing the Premises from other parts of the Building; 

  

	 	(iv)	 	all doors and internal windows and their frames, glass and fitments; 

  

	 	(v)	 	all Conduits, plant and machinery within and solely serving the same; 

  

	 	(vi)	 	all Landlord’s fixtures and fittings; 

  

	 	(vii)	 	all alterations and additions; 

  
 but excludes: 
  

	 	(i)	 	all structural and external parts of the Building including the external windows window frames and glass of the Building; 

  

	 	(ii)	 	all Conduits, plant and machinery serving other parts of the Building; 

  
 Principal Rent means the rent stated in the Particulars; 
  

Professional Team means the Architect and Landscape Architect, Cost Consultant, Structural Engineers, Building Services Engineers and Civil
Engineer and any sub-consultant appointed by any member of the Professional Team; 
  
 Quarter Days means 25 March, 24 June, 29 September and 25 December in every year and Quarter Day means any of them; 
  
 Restricted Use means a use for serviced offices or any other use which is in competition with the business activities
of Regus (UK) Limited and/or Regus Business Centres (UK) Limited which are being carried on in Building 1010 which is situated at Phase I of the Estate; 
  
 Service Charge means the service charge as specified in the Fourth Schedule; 
  
 Services means the Estate Services the Phase Services and the Building Services; 
  
 Subletting Unit means a self-contained area of the Premises;

  
 Tenant means the person so named in the Particulars
and includes its successors in title; 
  
 Term means the
Contractual Term together with any continuation of the term or the tenancy (whether by statute, common law holding over or otherwise); 
  
 VAT means Value Added Tax and any similar tax substituted for it or levied in addition to it; 
  

 3 

 Working Day means any day from Monday to Friday (inclusive) which is not Christmas Day, Good
Friday or a statutory Bank Holiday 
  
 1987 Order means
the Town and Country Planning (Use Classes) Order 1987 (as originally made); 
  
 1995 Act means the Landlord and Tenant (Covenants) Act 1995. 
  

	2	 	Interpretation 

  
 In this Lease unless the context otherwise requires: 
  

	2.1	 	If the Tenant is more than one person then their covenants are joint and several; 

  

	2.2	 	Any reference to a statute includes any modification extension or re-enactment of it and any orders, regulations, directions, schemes and rules made under it;

  

	2.3	 	Any covenant by the Tenant not to do any act or thing includes an obligation not to knowingly permit or suffer such act or thing to be done; 

  

	2.4	 	If the Landlord reserves rights of access or other rights over or in relation to the Premises then those rights extend to the Management Company and persons authorised by
either of them; 

  

	2.5	 	References to the act or default of the Tenant include acts or default or negligence of any undertenant or of anyone at the Premises with the Tenant’s or any
undertenant’s permission or sufferance; 

  

	2.6	 	The index and Clause headings in this Lease are for ease of reference only; 

  

	2.7	 	References to the last year of the Term shall mean the twelve months ending on the expiration or earlier termination of the Term; 

  

	2.8	 	The perpetuity period applicable to this Lease shall be the Term or 80 years from the commencement of the Term (whichever is the shorter); 

  

	2.9	 	References to Costs include all liabilities, claims, demands, proceedings, damages, losses and proper costs and expenses. 

  

	3	 	Demise and Rents 

  
 The Landlord DEMISES the Premises to the Tenant for the Contractual Term TOGETHER WITH the rights set out in Part I of the First Schedule, EXCEPT AND
RESERVING as mentioned in Part II of the First Schedule subject to all rights enjoyed by the owners or occupiers of any neighbouring property over the Premises and subject to and with the benefit of the Encumbrances, the Tenant paying by way of rent
during the Term without any deduction counterclaim or set off: 
  

	3.1	 	the Principal Rent and any VAT by equal quarterly payments in advance on the Quarter Days to be paid by Banker’s Standing Order if the Landlord so requires, the first
payment for the period from and including the Rent Commencement Date to (but excluding) the next Quarter Day to be made on the Rent Commencement Date; 

  

	3.2	 	the Service Charge and any VAT at the times and in the manner set out in the Fourth Schedule; 

  

	3.3	 	the following amounts and any VAT: 

  

	 	3.3.1	 	the sums specified in Clauses 4.2 (interest) and 4.5 (utilities and common facilities); 

  

	 	3.3.2	 	the sums specified in Clause 6.2.1 (insurance); 

  

	 	3.3.3	 	all Costs incurred by the Landlord as a result of any breach of the Tenant’s covenants in this Lease. 

  

 4 

	4	 	Tenant’s covenants 

  
 The Tenant covenants with the Landlord throughout the Term, or until released pursuant to the 1995 Act, as follows: 
  

	4.1	 	Rents 

  
 To pay the rents reserved by this Lease on the due dates; 
  

	4.2	 	Interest 

  
 If the Landlord does not receive any sum due to it by the due date to pay on demand interest on such sum at 3 per cent above Base Rate from the due date
until payment (both before and after any judgment), provided this Clause shall not prejudice any other right or remedy for the recovery of such sum; 
  

	4.3	 	Outgoings 

  
 To pay all existing and future rates, taxes, charges, assessments and outgoings in respect of the Premises (whether assessed or imposed on the owner or
the occupier), except any tax (other than VAT) arising as a result of the receipt by the Landlord of the rents reserved by this Lease and any tax arising on any dealing by the Landlord with its reversion to this Lease; 
  

	4.4	 	VAT 

  

	 	4.4.1	 	Any payment or other consideration to be provided to the Landlord is exclusive of VAT, and the Tenant shall in addition pay any VAT chargeable on the date the payment or
other consideration is due and the Landlord shall provide a valid VAT invoice addressed to the Tenant;; 

  

	 	4.4.2	 	Any obligation to reimburse or pay the Landlord’s expenditure extends to irrecoverable VAT on that expenditure, and the Tenant shall also reimburse or pay such VAT and
the Landlord shall provide a valid VAT invoice addressed to the Tenant; 

  

	4.5	 	Utilities and Common Facilities 

  
 To pay for all gas, electricity, water, telephone and other utilities (including but without limitation that for heating air conditioning and ventilation)
used on the Premises, and all charges for meters and all standing charges, and a fair proportion of any joint charges as reasonably determined by the Landlord’s Surveyor; 
  

	4.6	 	Repair 

  

	 	4.6.1	 	To maintain the Premises in good and substantial repair and condition (damage by the Insured Risks excepted save to the extent that insurance moneys are irrecoverable as a
result of the act or default of the Tenant); 

  

	 	4.6.2	 	To make good any disrepair for which the Tenant is liable within three months after the date of written notice from the Landlord (or sooner if the Landlord reasonably
requires); 

  

	 	4.6.3	 	If the Tenant fails to comply with any such notice the Landlord may enter and carry out the work and the cost shall be reimbursed by the Tenant on demand as a debt;

  

	 	4.6.4	 	To enter into maintenance contracts with reputable contractors for the regular servicing of all plant and equipment serving only the Premises; 

  

	4.7	 	Decoration 

  

	 	4.7.1	 	To clean, prepare and paint or treat and generally redecorate all internal parts of the Premises in the fifth year and in the last year of the Term but not twice in any
period of 12 months; 

  

	 	4.7.2	 	All the work described in Clause 4.7.1 is to be carried out: 

  

	 	(i)	 	in a good and workmanlike manner to the Landlord’s reasonable satisfaction; and 

  

 5 

	 	(ii)	 	in colours which (if different from the existing colour) are first approved in writing by the Landlord (approval not to be unreasonably withheld or delayed);

  

	4.8	 	Cleaning 

  

	 	4.8.1	 	To keep the Premises clean, tidy and free from rubbish; 

  

	 	4.8.2	 	To clean the inside of windows at the Premises as often as reasonably necessary; 

  

	4.9	 	Overloading 

  
 Not to overload the floors, ceilings or structure of the Premises or any plant machinery or electrical installation serving the Premises; 
  

	4.10	 	Conduits 

  
 To keep the Conduits in or serving the Premises clear and free from any noxious, harmful or deleterious substance, and to remove any obstruction and
repair any damage to the Conduits as soon as reasonably practicable to the Landlord’s reasonable satisfaction; 
  

	4.11	 	Prohibited Uses 

  
 Not to use the Premises: 
  

	 	4.11.1	 	for any purpose which is noisy, offensive, dangerous, illegal, immoral or a nuisance or causes damage or disturbance to the Landlord, or to owners or occupiers of any
neighbouring property, or which involves any substance which may be harmful, polluting or contaminating; 

  

	 	4.11.2	 	for residential purposes; 

  

	 	4.11.3	 	for any auction, public or political meeting, public exhibition or show, or as a betting office or for gaming or playing amusement machines, or as a sex shop (as defined in
the Local Government (Miscellaneous Provisions) Act 1982), or for the business of an undertaker, or for the business of a staff agency, employment agency or Government Department at which the general public call without appointment;

  

	4.12	 	Permitted Use 

  

	 	4.12.1	 	Not to use the Premises otherwise than for the Permitted Use specified in the Particulars; 

  

	 	4.12.2	 	Not to use the Premises or any part of them for a Restricted Use provided that nothing in this clause shall prevent the Tenant from underletting the whole or any part of the
Premises in accordance with the provisions as to underletting contained in this Lease; 

  

	4.13	 	Signs 

  
 Not to erect any sign, notice or advertisement which is visible outside the Premises without the Landlord’s prior written consent PROVIDED ALWAYS
that any such sign must comply with the signage code (if any) for the Estate and the Building; 
  

	4.14	 	Alterations 

  

	 	4.14.1	 	Not to make any alterations or additions which: 

  

	 	(i)	 	affect the structure of the Building (including without limitation the roofs and foundations and the principal or load-bearing walls, floors, beams and columns);

  

	 	(ii)	 	divide the Premises or merge the Premises with any adjoining premises; 

  

	 	(iii)	 	affect the external appearance of the Premises; 

  

	 	(iv)	 	adversely affect the heating, air conditioning or ventilation systems at the Building; 

  

 6 

	 	4.14.2	 	Subject to clause 4.14.3 not to make any other alterations or additions to the Premises without the Landlord’s written consent (not to be unreasonably withheld or
delayed); 

  

	 	4.14.3	 	The Tenant may erect and relocate internal demountable partitioning and associated electrical and computer cabling without Landlord’s consent subject to providing plans
of the works to the Landlord within 30 days of carrying out such works; 

  

	4.15	 	Preservation of Easements 

  

	 	4.15.1	 	Not to prejudice the acquisition of any right of light for the benefit of the Premises by obstructing any window or opening, or giving any acknowledgement that the right is
enjoyed by consent or any other act or default of the Tenant; 

  

	 	4.15.2	 	To preserve all rights of light and other easements enjoyed by the Premises, and not to permit or suffer anyone to acquire any right of light or other easement or right over
the Premises; 

  

	 	4.15.3	 	To give the Landlord immediate notice if any easement enjoyed by the Premises is obstructed, or any new easement affecting the Premises is made or attempted;

  

	4.16	 	Alienation 

  

	 	4.16.1	 	Not to: 

  

	 	4.16.2	 	assign, charge, underlet or part with the possession of the whole or part only of the Premises except by an assignment or underletting of the whole or an underletting of a
Subletting Unit permitted by this Clause 4.16; 

  

	 	4.16.3	 	share the possession or occupation of the whole or any part of the Premises; 

  

	 	4.16.4	 	Not to assign or agree to assign the whole of the Premises without the Landlord’s written consent (not to be unreasonably withheld or delayed), provided that:

  

	 	(i)	 	the Landlord may withhold consent in circumstances where: 

  

	 	(a)	 	in the reasonable opinion of the Landlord the proposed assignee is not of sufficient financial standing to enable it to comply with the Tenant’s covenants in this Lease;

  

	 	(b)	 	the proposed assignee is a company incorporated outside the United Kingdom which is not registered at Companies House in accordance with Schedule 21A or Section 691 of the Companies
Act 1985. 

  

	 	(ii)	 	the Landlord’s consent shall in every case be subject to conditions (unless expressly excluded) requiring that: 

  

	 	(a)	 	the assignee covenants with the Landlord to pay the rents and observe and perform the Tenant’s covenants in this Lease during the residue of the Term, or until released
pursuant to the 1995 Act; 

  

	 	(b)	 	the Tenant enters into an authorised guarantee agreement guaranteeing the performance of the Tenant’s covenants in this Lease by the assignee including the provisions set out
in the Third Schedule (but omitting paragraph 1.2) and for the avoidance of doubt the Tenant shall be released from future (but not as then existing) liability upon the assignment of the Lease to the assignee 

  

	 	(c)	 	such other persons as the Landlord reasonably requires act as guarantors for the assignee and enter into direct covenants with the Landlord including the provisions set out in the
Third Schedule (but referring in paragraph 1.2 to the assignee); 

  

 7 

	 	(d)	 	all rent and other payments due under this Lease are paid before completion of the assignment; 

  

	 	4.16.5	 	The provisions of Clause 4.16.4 shall not prejudice the Landlord’s right to withhold consent in other circumstances, or to impose other conditions, where it would be
reasonable to do so; 

  

	 	4.16.6	 	Not to underlet or agree to underlet the whole of the Premises or a Subletting Unit unless: 

  

	 	(i)	 	the rent payable under the underlease is: 

  

	 	(a)	 	not less than the rent reasonably obtainable in the open market for the Premises (or the Subletting Unit) without fine or premium; 

  

	 	(b)	 	payable no more than one quarter in advance; 

  

	 	(c)	 	to be subject to upward only reviews to coincide with the rent review under this Lease; 

  

	 	(ii)	 	the undertenant covenants with the Landlord and in the underlease: 

  

	 	(a)	 	to observe and perform the Tenant’s covenants in this Lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act so
far as they apply to the underlet premises; 

  

	 	(b)	 	not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;

  

	 	(c)	 	not to assign the whole of the underlet premises without the Landlord’s prior written consent (which shall not be unreasonably withheld or delayed); 

 

	 	(iii)	 	all rents and other payments due under this Lease are paid before completion of the underletting; 

  

	 	(iv)	 	in relation to any Subletting Unit the undertenant has declared its acknowledgement of the exclusion of Sections 24 to 28 of the Landlord and Tenant Act in respect of such
underlease and a copy of the notice served pursuant to section 38A(3)(a) (and a copy of the underlease referred to) and of such declaration is produced to the Landlord and acknowledged by the Landlord as satisfactory; 

  

	 	(v)	 	(in relation to any Subletting Unit) the underlease grants such rights as are appropriate for the separate occupation and use of the Premises, reserves such rights as are
appropriate for the separate occupation and use of the remainder of the property let by this Lease and to enable the Tenant to comply with its obligations under this Lease, and reserves as rent: 

  

	 	(a)	 	a fair proportion of the cost of insuring the Premises and the whole cost of insuring the loss of the principal rent and service charge payable under the underlease; and

  

	 	(b)	 	a service charge which provides for the undertenant to pay a fair and reasonable proportion of expenditure incurred by the Tenant in relation to the maintenance, repair, renewal,
decoration and cleaning of the Premises (including without limitation the Conduits, plant and equipment therein) and the provision of services to the Premises; 

  

	 	(vi)	 	there shall be no more than two units of occupation at any time (and for this purpose a unit of occupation shall comprise (a) the Subletting Unit and (b) the residue of the net
lettable area of the Premises (if any) retained by the Tenant); 

  

 8 

	 	(vii)	 	any subdivision of the Premises for underletting in parts must be such that both or all parts so formed by such subdivision are capable of separate economic occupation.

  

	 	4.16.7	 	Without prejudice to Clause 4.16.4 not to underlet the whole of the Premises or a Subletting Unit nor vary the terms of any underlease without the Landlord’s written
consent (not to be unreasonably withheld or delayed); 

  

	 	4.16.8	 	To take all necessary steps and proceedings to remedy any breach of the covenants of the undertenant under the underlease to operate the rent review provisions at the
relevant dates of review and not to permit any reduction of the rent payable by any undertenant; 

  

	 	4.16.9	 	Notwithstanding clause 4.16 the Tenant may share occupation of the whole or any part of the Premises with a Group Company for so long as both companies remain members of that
group and otherwise than in a manner that transfers or creates a legal estate 

  

	4.17	 	Registration 

  
 Within 21 days to give to the Landlord’s solicitors (or as the Landlord may direct) written notice of any assignment, charge, underlease or other
devolution of the Premises or a Subletting Unit or any Group Company sharing together with a certified copy of the relevant document and a reasonable registration fee of not less than £40; 
  

	4.18	 	Statutory Requirements 

  
 To comply promptly with all notices served by any public, local or statutory authority, and with the requirements of any present or future statute or
European Union law, regulation or directive (whether imposed on the owner or occupier), which affects the Premises or their use; 
  

	4.19	 	Planning 

  

	 	4.19.1	 	To comply with the Planning Acts and any planning permissions relating to or affecting the Premises; 

  

	 	4.19.2	 	Not to apply for or implement any planning permission affecting the Premises without first obtaining the Landlord’s written consent (which is not to be unreasonably
withheld or delayed where that application relates to any alteration or change of use to which the Landlord has given its consent under the terms of this Lease). 

  

	 	4.19.3	 	Not to implement any planning permission before it has been produced to and approved in writing by the Landlord (such approval not to be unreasonably withheld or delayed)
Provided that the Landlord may withhold its approval if in the reasonable opinion of the Landlord anything contained or omitted from it is prejudicial to the Landlord’s interest in the Premises or in any Adjoining Property;

  

	 	4.19.4	 	If a planning permission is implemented the Tenant shall complete all the works permitted and comply with all the conditions imposed by the permission before the
determination of the Term (including any works stipulated to be carried out by a date after the determination of the Term unless the Landlord requires otherwise); 

  

	 	4.19.5	 	If the Landlord reasonably so requires to produce evidence to the Landlord that the provisions of this Clause 4.19 have been complied with; 

  

	4.20	 	Notices 

  

	 	4.20.1	 	To supply the Landlord with a copy of any notice, order or certificate or proposal for any notice order or certificate affecting or capable of affecting the Premises as soon
as reasonably practicable after it is received by or comes to the notice of the Tenant; 

  

	 	4.20.2	 	At the request of the Landlord, and at the joint cost of the Landlord and the Tenant so far as such action is beneficial to both parties, to make or join the Landlord in
making 

  

 9 

 such objections or representations against or in respect of any such notice, order or certificate as the
Landlord may reasonably require Provided always that the Tenant shall not be obliged by virtue of this sub-clause or any other provision contained in this Lease to take any steps likely to interfere with its beneficial use and occupation of the
Premises; 
  

	4.21	 	Contaminants and Defects 

  

	 	4.21.1	 	On becoming aware of the same to give the Landlord written notice of the existence of any contaminant, pollutant or harmful substance on or any defect in the Premises;

  

	 	4.21.2	 	If so requested by the Landlord, to remove from the Premises or remedy to the Landlord’s reasonable satisfaction any such contaminant, pollutant or harmful substance;

  

	4.22	 	Entry by Landlord 

  
 To permit the Landlord at all reasonable times and on reasonable written notice (except in emergency) to enter the Premises in order to: 
  

	 	4.22.1	 	inspect and record the condition of the Premises or any other parts of the Building or the Adjoining Property; 

  

	 	4.22.2	 	remedy any breach of the Tenant’s obligations under this Lease; 

  

	 	4.22.3	 	repair, maintain, clean, alter, replace, install, add to or connect up to any Conduits which serve the Adjoining Property; 

  

	 	4.22.4	 	repair, maintain, alter or rebuild any part of the Building or the Adjoining Property; 

  

	 	4.22.5	 	comply with any of its obligations under this Lease; 

  
 Provided that the Landlord shall cause as little inconvenience as reasonably practicable in the exercise of such rights and shall with all reasonable
speed make good all damage to the Premises caused by such entry to the reasonable satisfaction of the Tenant Provided that where entry upon the Premises is in the case of an emergency and the need for entry does not arise from the act neglect or
default of the Tenant the person so entering is also to make good all damage caused in the exercise of such rights to the Tenant’s fixtures fittings and stock in trade; 
  

	4.23	 	Landlord’s Costs 

  
 To pay to the Landlord on demand amounts equal to such proper and reasonable costs as it may incur: 
  

	 	4.23.1	 	in connection with any application for consent made necessary by this Lease (including where consent is lawfully refused or the application is withdrawn);

  

	 	4.23.2	 	incidental to or in reasonable and proper contemplation of the preparation and service of a schedule of dilapidations (whether before or within 6 months after expiry of the
Term) or a notice or proceedings under Section 146 or Section 147 of the Law of Property Act 1925 (even if forfeiture is avoided other than by relief granted by the Court); 

  

	 	4.23.3	 	in connection with the enforcement or remedying of any breach of the covenants in this Lease on the part of the Tenant and any Guarantor; 

  

	 	4.23.4	 	incidental to or in reasonable and proper contemplation of the preparation and service of any notice under Section 17 of the 1995 Act; 

  

	4.24	 	Indemnity 

  
 To indemnify the Landlord against all Costs arising directly or indirectly from the use or occupation or condition of the Premises, or any breach of the
Tenant’s obligations under this 
  

 10 

 Lease or any act or default of the Tenant in relation to the Premises, or the exercise of the rights set
out in Part I of the First Schedule; 
  

	4.25	 	Reletting Notices 

  
 To allow a sale board and (in the last six months of the Term to allow a letting board) to be displayed on the Premises and to allow prospective tenants
or purchasers to view the Premises at reasonable times on reasonable notice; 
  

	4.26	 	Yielding up 

  

	 	4.26.1	 	Immediately before the end of the Term: 

  

	 	(i)	 	to give up the Premises repaired and decorated and otherwise in accordance with the Tenant’s covenants in this Lease; 

  

	 	(ii)	 	unless the Landlord otherwise so requires, to remove all alterations made during the Term or any preceding period of occupation by the Tenant and reinstate the Premises (including
replacing the carpet tiles currently in the Premises) as the Landlord shall reasonably direct and to its reasonable satisfaction; 

  

	 	(iii)	 	to remove all signs, tenant’s fixtures and fittings and other goods from the Premises, and make good any damage caused thereby to the Landlord’s reasonable satisfaction;

  

	 	(iv)	 	to replace any damaged or missing Landlord’s fixtures with ones of no less quality and value; 

  

	 	4.26.2	 	If the Tenant fails to comply with Clause 4.26.1 to pay to the Landlord within 10 days of demand as liquidated damages: 

  

	 	(i)	 	any Costs incurred by the Landlord in remedying the breach; and 

  

	 	(ii)	 	a sum equivalent to the Principal Rent payable immediately before the end of the Term for the period reasonably required to remedy the breach; 

  

	4.27	 	Encumbrances 

  
 To perform and observe the Encumbrances so far as they relate to the Premises; 
  

	4.28	 	Regulations 

  

	 	4.28.1	 	To observe all rules and regulations relating to the Premises the Building the Phase or the Estate from time to time made by the Landlord and/or the Management Company
pursuant to paragraph 3 of Part II of the First Schedule and notified to the Tenant; 

  

	 	4.28.2	 	Not to cause an obstruction to the Common Areas, Estate Common Areas or the Phase Common Areas or any part of the Building, Estate or the Phase. 

  

	5	 	Landlord’s Covenant 

  
 The Landlord covenants with the Tenant as follows: 
  

	5.1	 	Quiet Enjoyment 

  
 That the Tenant may peaceably enjoy the Premises during the Term without any interruption by the Landlord or any person lawfully claiming under or in
trust for it; 
  

	5.2	 	Provision of Services 

  

	 	5.2.1	 	The Landlord will use reasonable endeavours to procure the provision of the Estate Services (and if it so chooses the Phase Services) by Cambourne Business Park Limited or
the Management Company but subject to receiving on demand any Costs incurred by the Landlord in procuring the provision of the Estate Services by either of 

  

 11 

 such parties provided that the Landlord will not be in breach of this clause as a result of any failure
or interruption of any of the Estate Services; 
  

	 	(i)	 	for any failure to repair unless and until it has been notified of the disrepair and has not within a reasonable time remedied the failure; 

  

	 	(ii)	 	resulting from circumstances beyond the Landlord’s reasonable control, so long as the Landlord uses its reasonable endeavours to remedy the same as soon as reasonably
practicable after becoming aware of such circumstances; or 

  

	 	(iii)	 	to the extent that the Services (or any of them) cannot reasonably be provided as a result of works of inspection, maintenance and repair or other works being carried out at the
Estate, the Phase, the Building or the Premises. 

  

	 	5.2.2	 	Insofar as this is necessary for the reasonable use and enjoyment of the Premises by the Tenant and the exercise of the rights granted in Part 1 of the First Schedule that
the Landlord will provide or procure the provision of the Phase Services and the Building Services, Provided that the Landlord will not be in breach of this Clause as a result of any failure or interruption of any of the Services:

  

	 	(i)	 	for any failure to repair unless and until it has been notified of the disrepair and has not within a reasonable time remedied the failure; 

  

	 	(ii)	 	resulting from circumstances beyond the Landlord’s reasonable control, so long as the Landlord uses its reasonable endeavours to remedy the same as soon as reasonably
practicable after becoming aware of such circumstances; or 

  

	 	(iii)	 	to the extent that the Services (or any of them) cannot reasonably be provided as a result of works of inspection, maintenance and repair or other works being carried out at the
Estate the Phase, the Building or the Premises. 

  

	 	5.2.3	 	The Landlord may, at its discretion, add to, extend, vary or withhold from time to time any of the Services if the Landlord reasonably considers it desirable to do so for the
more efficient management, operation or security of the Estate, the Phase or the Building or for the benefit of the tenants in the Estate, the Phase or the Building. 

  

	 	5.2.4	 	The Landlord shall ensure at all times that sufficient areas of the Common Parts are available for use by the Tenant to enable the Tenant to undertake its usual business at
the Premises 

  

	5.3	 	Within one month after the date hereof the Landlord will construct a partition wall between points A and B on Plan 2 causing as little inconvenience as practicable to the
Tenant and making good any damage caused to the Premises whilst undertaking such works 

  

	6	 	Insurance 

  

	6.1	 	Landlord’s insurance covenants 

  
 The Landlord covenants with the Tenant as follows: 
  

	 	6.1.1	 	To insure the Building (other than tenant’s and trade fixtures and fittings) unless the insurance is invalidated in whole or in part by any act or default of the Tenant:

  

	 	(i)	 	with an insurance office or underwriters of repute; 

  

	 	(ii)	 	against loss or damage by the Insured Risks; 

  

	 	(iii)	 	subject to such excesses as may be imposed by the insurers; 

  

	 	(iv)	 	in the full cost of reinstatement of the Building (in modern form if appropriate) including shoring up, demolition and site clearance, professional fees, VAT and allowance for
building cost increases; 

  

 12 

	 	6.1.2	 	To insure against loss of the Principal Rent, Service Charge and VAT thereon payable or reasonably estimated by the Landlord to be payable under this Lease arising from
damage to the Premises by the Insured Risks for three years or such other period as the Landlord shall reasonably require; 

  

	 	6.1.3	 	At the request of the Tenant to produce evidence of the terms of the insurance under this Clause 6.1 and of payment of the current premium; 

  

	 	6.1.4	 	If the Landlord for the time being is an insurance company or a member of a group which includes an insurance company it is entitled to effect or maintain in its own office
or in the office of any insurance company which is a Group Company any insurance it is required to effect under this Lease and for the purpose of any covenant by the Tenant to pay or contribute towards the cost of such insurance the premiums charged
by the Landlord or the Group Company are deemed to have been paid by the Landlord on the first day of the period of insurance to which the relevant premium relates; 

  

	 	6.1.5	 	If the Building is destroyed or damaged by an Insured Risk, then, unless payment of the insurance moneys is refused in whole or part because of the act or default of the
Tenant, and subject to obtaining all necessary planning and other consents to use the insurance proceeds (except those relating to loss of rent and fees) and any uninsured excess paid by the Tenant under Clause 6.2.4(ii) in reinstating the same
(other than tenant’s and trade fixtures and fittings) as quickly as reasonably practicable, in modern form if appropriate but not necessarily identical in layout and (in relation to the Premises) substantially as they were before the
destruction or damage; 

  

	6.2	 	Tenant’s insurance covenants 

  
 The Tenant covenants with the Landlord throughout the Term or until released pursuant to the 1995 Act as follows: 
  

	 	6.2.1	 	To pay to the Landlord within 10 Working Days of demand sums equal to: 

  

	 	(i)	 	the amount which the Landlord in its reasonable discretion considers to be a proportion fairly attributable to the Premises of the sum which the Landlord spends on insurance
pursuant to Clause 6.1; 

  

	 	(ii)	 	the cost of property owners’ liability and third party liability insurance in connection with the Premises; 

  

	 	(iii)	 	the cost of any professional valuation of the Premises properly required by the Landlord (but not a full valuation more than once in any three year period);

  

	 	6.2.2	 	To give the Landlord immediate written notice on becoming aware of any event or circumstance which might affect or lead to an insurance claim; 

  

	 	6.2.3	 	Not to knowingly do anything at the Premises which would or might prejudice or invalidate the insurance of the Building or the Adjoining Property or cause any premium for
their insurance to be increased; 

  

	 	6.2.4	 	To pay to the Landlord within 10 Working Days of demand: 

  

	 	(i)	 	any increased premium and any Costs incurred by the Landlord as a result of a breach of Clause 6.2.3; 

  

	 	(ii)	 	any uninsured excess to which the insurance policy may be subject to the amount of such excess having been notified by the Tenant prior to the date on which the damage giving rise
to the claim occurred; 

  

	 	(iii)	 	the whole of the irrecoverable proportion of the insurance moneys if the Premises or any part are destroyed or damaged by an Insured Risk but the insurance moneys are irrecoverable
in whole or part due to the act or default of the Tenant; 

  

 13 

	 	6.2.5	 	To insure with an insurance office or underwriters of repute the third party liability of the Tenant in relation to the Premises and to pay all premiums promptly and at the
request of the Landlord to produce particulars of the insurance and evidence of payment of the premium; 

  

	 	6.2.6	 	To comply with the requirements of the insurers; 

  

	 	6.2.7	 	To notify the Landlord of the full reinstatement cost of any fixtures and fittings installed at the Premises at the cost of the Tenant which become Landlord’s fixtures
and fittings; 

  

	6.3	 	Suspension of Rent 

  

	 	6.3.1	 	If the Premises are unfit for occupation and use because of damage by an Insured Risk then (save to the extent that payment of the loss of rent insurance moneys is refused
due to the act or default of the Tenant) the Principal Rent and the Service Charge (or a fair proportion according to the nature and extent of the damage) shall be suspended until the earlier of: 

  

	 	(i)	 	the date on which the Premises are again fit for occupation and use; and 

  

	 	(ii)	 	the expiry of the loss of rent insurance period; 

  

	 	6.3.2	 	Any dispute relating to this Clause 6.3 shall be referred to Arbitration. 

  

	6.4	 	Termination 

  

	 	6.4.1	 	If the Premises have not been rebuilt or reinstated so as to be ready for the commencement of fitting out works by the Tenant by the end of the Loss of Rent Period referred
to in clause 6.1.2 either party may determine the Term by giving on or after the end of that Loss of Rent Period (but not after the Premises have been so rebuilt or reinstatement) not less than one months notice in writing to the other to take
effect not later than three months after the end of that Loss of Rent Period and thereupon this Lease shall determine Provided that if the Landlord by notice in writing to the Tenant given before the end of that Loss of Rent Period specifies a date
(which is not later than six months after the end of that Loss of Rent Period) by which is considers that the Premises will be so rebuilt or reinstated any right to determine shall be postponed to the date specified in that notice.

  

	 	6.4.2	 	The Tenant shall not be liable to pay any rents during any of the period referred to in clause 6.4.1 after the expiry of the Loss of Rent Period 

  

	 	6.4.3	 	Any determination of the Lease under this clause 6.4.1 is without prejudice to any claim by either party against the other for any prior breach of the provisions of this
Lease and on any determination of the Lease all insurance monies (so far as unapplied) shall belong to the Landlord absolutely 

  

	7	 	Provisos 

  

	7.1	 	Forfeiture 

  
 If any of the following events occurs: 
  

	 	7.1.1	 	the Tenant fails to pay any of the rents payable under this Lease within 28 days of the due date (whether or not formally demanded); or 

  

	 	7.1.2	 	the Tenant or Guarantor breaches any of its obligations in this Lease; or 

  

	 	7.1.3	 	execution or distress is levied on the Tenant’s goods in the Premises; or 

  

	 	7.1.4	 	the Tenant or Guarantor being a company incorporated within the United Kingdom 

  

 14 

	 	(i)	 	has an Administration Order made in respect of it; or 

  

	 	(ii)	 	passes a resolution, or the Court makes an Order, for the winding up of the Tenant or the Guarantor, otherwise than a member’s voluntary winding up of a solvent company for the
purpose of amalgamation or reconstruction previously consented to by the Landlord (consent not to be unreasonably withheld or delayed); or 

  

	 	(iii)	 	has a receiver or administrative receiver or receiver and manager appointed over the whole or any part of its assets or undertaking; or 

  

	 	(iv)	 	is struck off the Register of Companies; or 

  

	 	(v)	 	is deemed unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986; or 

  

	 	7.1.5	 	proceedings or events analogous to those described in Clause 7.1.4 shall be instituted or shall occur where the Tenant or Guarantor is a company incorporated outside the
United Kingdom; or 

  

	 	7.1.6	 	the Tenant or Guarantor being an individual: 

  

	 	(i)	 	has a bankruptcy order made against him; or 

  

	 	(ii)	 	appears to be unable to pay his debts within the meaning of Section 268 of the Insolvency Act 1986; 

  
 then the Landlord may re-enter the Premises or any part of the Premises in the name of the whole and forfeit this Lease and
the Term created by this Lease shall immediately end, but without prejudice to the rights of the Landlord in respect of any breach of the obligations contained in this Lease; 
  

	7.2	 	No Compensation 

  
 Any right for the Tenant to claim compensation from the Landlord on vacating the Premises or otherwise is excluded to the extent permitted by law;

  

	7.3	 	Notices 

  
 Section 196 of the Law of Property Act 1925 shall apply to any notice which may be served under this Lease and as if the final words of Section 196(4)
“and that service...be delivered” were deleted and replaced by “and that service shall be deemed to be made on the third working day after posting”; 
  

	7.4	 	Arbitration 

  

	 	7.4.1	 	Where this Lease provides for reference to Arbitration then reference shall be made in accordance with the Arbitration Act 1996 to a single arbitrator agreed between the
Landlord and the Tenant, or in the absence of agreement nominated on the application of either party by the President for the time being of the Royal Institution of Chartered Surveyors; 

  

	 	7.4.2	 	In the absence of a determination by the arbitrator as to his fees they shall be borne equally by the Landlord and the Tenant; 

  

	 	7.4.3	 	If the arbitrator is ready to make his award, but is unwilling to do so due to the Tenant’s failure to pay its share of the costs in connection with the award, the
Landlord may serve on the Tenant a notice requiring the Tenant to pay such costs within 14 days, and if the Tenant fails to comply with such notice the Landlord may pay to the arbitrator the Tenant’s costs and any amount so paid shall be a debt
due forthwith from the Tenant to the Landlord; 

  

 15 

	7.5	 	No Implied Easements 

  
 The grant of this Lease does not confer any rights over the Adjoining Property or any other property except those mentioned in Part I of the First
Schedule, and Section 62 of the Law of Property Act 1925 is excluded from this Lease; 
  

	7.6	 	Planning Acts 

  
 The Landlord does not warrant that the Permitted Use complies with the Planning Acts; 
  

	7.7	 	Option to Determine 

  

	 	7.7.1	 	The Tenant may terminate the Contractual Term on the date (“the Break Date”) at the end of the fifth year of the Contractual Term by giving to the Landlord not less
than six months’ previous notice in writing (a “Break Notice”) expiring on the Break Date; 

  

	 	7.7.2	 	Any Break Notice shall operate to terminate the Contractual Term only if: 

  

	 	(i)	 	the rents reserved by this Lease have been paid by the time of such termination; and 

  

	 	(ii)	 	the Tenant gives the Landlord vacant possession of the Premises on the Break Date Provided that if the Tenant leaves any chattels in the Premises that shall not be construed as
failure to give vacant possession for the purposes of this sub-clause; 

  

	 	7.7.3	 	If the Tenant gives a Break Notice then upon termination subject to clause 7.7.2 the Contractual Term shall cease on the Break Date but without prejudice to any claim in
respect of any prior breach of the obligations contained in this Lease; 

  

	 	7.7.4	 	Time shall be of the essence for the purpose of this Clause. 

  

	8	 	Contracts (Rights of Third Parties) Act 1999 

  
 A person who is not a party to this Lease has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Lease but this
does not affect any right or remedy of a third party which exists or is available apart from that Act. 
  

	9	 	New Tenancy 

  
 This Lease is a new tenancy for the purposes of the 1995 Act. 
  
 Executed by the parties as a Deed the day and year first before written. 
  

 16 

 The First Schedule 
 Part I – Easements and Other Rights granted 
  
 There are granted to the Tenant (in common with the Landlord others authorised by the Landlord and by any owner of the Estate Common Areas) and subject to the Tenant complying with the rules and regulations referred to in Clause 4.28:

  

	1	 	The right to use the Access Road to gain access to and from the Estate (until such time as it shall become adopted and maintainable at public expense);

  

	2	 	The right to use the relevant Estate Common Areas, Phase Common Areas and the Common Parts for access to and from the Premises; 

  

	3	 	Free and uninterrupted use of all existing and future Conduits which are in the Building and which serve the Premises, subject to the Landlord’s and/or the Management
Company’s rights to re-route the same subject to there being no unreasonable interruption of services; 

  

	4	 	The right to enter the Building excluding any part or parts which are occupied by tenants as necessary to comply with the provisions of Clause 4.6 on reasonable prior written
notice to the Landlord, subject to causing as little inconvenience as practicable and complying with conditions reasonably imposed by the Landlord and making good all damage caused; 

  

	5	 	The right to park 30 private motor cars in the car park situated within the Phase in such spaces asthe Landlord from time to time allocates within the area hatched black on
plan 1 annexed; 

  

	6	 	The right of support and protection from other parts of the Building 

  

	7	 	Without prejudice to paragraph 2, a right of access along the corridor hatched red on plan 2 annexed in order to gain access to the lavatories and washrooms from the
remainder of the Premises 

  

	8	 	The right of access to verify the readings of the electricity sub-meters located within the Building relating to the Premises 

  
 Part II – Exceptions and Reservations 
  
 There are excepted and reserved to the Landlord and the Management Company (and all others
having like rights): 
  

	1	 	The right to carry out any building, rebuilding, alteration or other works to the Phase or the Estate and the Adjoining Property (including the erection of scaffolding)
notwithstanding interference with light and air enjoyed by the Premises provided that any such diminution of the flow of light and/or air does not prevent the reasonable use and enjoyment of the Premises by the Tenant for the Permitted Use;

  

	2	 	Free and uninterrupted use of all existing and future Conduits which are in the Premises and serve the Estate, Phase or the Adjoining Property; 

  

	3	 	The right to regulate and control in a reasonable manner the use of the Estate Common Area, the Phase Common Areas and the Common Parts provided that in the implementation of
the provisions of this paragraph 3 the Landlord shall act reasonably and have regard to the benefit to the Phase as a whole and the generality of the tenants therein; 

  

	4	 	Rights to enter on the Premises for the purposes referred to in Clause 4.22; 

  

	5	 	The right of support and protection for other parts of the Building. 

  

 17 

 Part III – Encumbrances 
  
 The entries contained or referred to in the Property, Proprietorship and Charges Registers of Title Numbers CB243700 dated 8 April 2004
timed 16:16 
  

					
	Date	  	Document	  	Parties
			
	 29 January 2001
	  	Section 106 Agreement relating to Plot 2020/2030	  	 South Cambridgeshire District Council (1)
 W. G. Topham
and others (2)

  
 Insofar as any matter referred to
still exists and relates to the Premises 
  

 18 

 The Second Schedule 
 Rent Review 
  

	1	 	In this Schedule: 

  

	1.1	 	Review Date means the Review Date mentioned in the Particulars; 

  

	1.2	 	Rack Rental Value means the annual rent (exclusive of VAT) at which the Premises might reasonably be expected to be let in the open market at the Review Date;

  
 ASSUMING 
  

	 	1.2.1	 	the letting is on the same terms as those contained in this Lease but subject to the following qualifications: 

  

	 	(i)	 	the term shall commence on the Review Date and be the residue of the Contractual Term remaining at the Review Date or 10 years (whichever is the longer); 

 

	 	(ii)	 	the amount of the Principal Rent shall be disregarded, but it shall be assumed that the Principal Rent is subject to review on the terms of and at the same interval as the Principal
Rent under this Lease; 

  

	 	1.2.2	 	the Premises are available to let as a whole, with vacant possession, by a willing landlord to a willing tenant, without premium; 

  

	 	1.2.3	 	the Premises are ready, fit and available for immediate occupation and use for the Permitted Use; 

  

	 	1.2.4	 	all the obligations on the part of the Landlord and the Tenant contained in this Lease have been fully performed and observed; 

  

	 	1.2.5	 	no work has been carried out to the Premises which has reduced the rental value of the Premises other than works carried out in compliance with clause 4.18 (Statutory
Requirements); 

  

	 	1.2.6	 	if the whole or any part of the Premises has been destroyed or damaged it has been fully reinstated unless the failure to reinstate the Premises is due to any act or omission
on the part of the Landlord; 

  

	 	1.2.7	 	the Premises comply with all relevant statutory requirements necessary for the Premises to be used for the Permitted Use; 

  
 BUT DISREGARDING 
  

	 	1.2.8	 	any goodwill attached to the Premises by reason of any business carried on there; 

  

	 	1.2.9	 	any effect on rent of the fact that any Tenant and any undertenant is or has been in occupation of the Premises; 

  

	 	1.2.10	 	any effect on rent of any improvements at the Premises made with the Landlord’s written consent by the Tenant or any undertenant except improvements carried out pursuant
to an obligation to the Landlord or at the expense of the Landlord; 

  
 PROVIDED THAT the Rack Rental Value shall be that which would be payable after the expiry of any rent free period or concessionary rent period for fitting out (or the receipt of any contribution to fitting out works
or other inducement in lieu thereof) which might be given on a letting of the Premises, so that no discount reduction or allowance is made to reflect (or compensate the tenant for the absence of) any such rent free or concessionary rent period;

  

	1.3	 	Revised Rent means the new Principal Rent following the Review Date pursuant to paragraph 2 of the Second Schedule. 

  

	2	 	The Principal Rent shall be reviewed on the Review Date to the higher of: 

  

 19 

	2.1	 	the Principal Rent payable immediately before the Review Date (disregarding any suspension or abatement of the Principal Rent); and 

  

	2.2	 	the Rack Rental Value on the Review Date agreed or determined in accordance with this Lease. 

  

	3	 	The Rack Rental Value at any Review Date shall be: 

  

	3.1	 	agreed in writing between the Landlord and the Tenant; or 

  

	3.2	 	determined by Arbitration on the application of either Landlord or Tenant at any time after the Review Date. 

  

	4	 	If a Revised Rent is not agreed or determined by the Review Date: 

  

	4.1	 	the Principal Rent payable immediately before the Review Date shall continue to be payable until the Revised Rent is ascertained; 

  

	4.2	 	when the Revised Rent is ascertained: 

  

	 	4.2.1	 	the Tenant shall pay within 14 days of ascertainment: 

  

	 	(i)	 	any difference between the Principal Rent payable immediately before the Review Date and the Principal Rent which would have been payable had the Revised Rent been ascertained on
the Review Date (the “Balancing Payment”); and 

  

	 	(ii)	 	interest on the Balancing Payment at Base Rate from the date or dates when the Balancing Payment or the relevant part or parts would have been payable had the Revised Rent been
ascertained on the Review Date; 

  

	 	4.2.2	 	the Landlord and Tenant shall sign and exchange a memorandum recording the agreed amount of the Revised Rent. 

  

	5	 	If at the Review Date the operation of the rent review provisions in this Lease, or the normal collection and retention by the Landlord of any increase in the rent is
prohibited or modified, the Landlord may elect at any time that the day after the date on which any such prohibition or modification is relaxed shall be substituted for the Review Date Provided that such election is not made more than once in any
five year period. 

  

	6	 	Time shall not be of the essence for the purposes of this Schedule. 

  

 20 

 The Third Schedule 
 Guarantee 
  

	1	 	The Guarantor covenants with the Landlord as principal debtor: 

  

	1.1	 	that throughout the Term or until the Tenant is released from its covenants pursuant to the 1995 Act: 

  

	 	1.1.1	 	The Tenant will pay the rents reserved by and perform its obligations contained in this Lease; 

  

	 	1.1.2	 	The Guarantor will indemnify the Landlord on demand against all Costs arising from any default of the Tenant in paying the rents and performing its obligations under this
Lease; 

  

	1.2	 	the Tenant will perform its obligations under any authorised guarantee agreement that it gives with respect to the performance of any of the covenants and conditions in this
Lease. 

  

	2	 	The liability of the Guarantor shall not be affected by: 

  

	2.1	 	Any time given to the Tenant or any failure by the Landlord to enforce compliance with the Tenant’s covenants and obligations; 

  

	2.2	 	The Landlord’s refusal to accept rent at a time when it would or might have been entitled to re-enter the Premises; 

  

	2.3	 	Any variation of the terms of this Lease; 

  

	2.4	 	Any change in the constitution, structure or powers of the Guarantor the Tenant or the Landlord or the administration, liquidation or bankruptcy of the Tenant or Guarantor;

  

	2.5	 	Any act which is beyond the powers of the Tenant; 

  

	2.6	 	The surrender of part of the Premises; 

  

	2.7	 	The transfer of the reversion expectant on the Term; 

  

	2.8	 	Any other act or thing by which (but for this provision) the Guarantor would have been released. 

  

	3	 	Where two or more persons have guaranteed obligations of the Tenant the release of one or more of them shall not release the others. 

  

	4	 	The Guarantor shall not be entitled to participate in any security held by the Landlord in respect of the Tenant’s obligations or stand in the Landlord’s place in
respect of such security. 

  

	5	 	If this Lease is disclaimed, and if the Landlord within 6 months of the disclaimer requires in writing the Guarantor will enter into a new lease of the Premises at the cost
of the Guarantor on the terms of this Lease (but as if this Lease had continued and so that any outstanding matters relating to rent review or otherwise shall be determined as between the Landlord and the Guarantor) for the residue of the
Contractual Term from and with effect from the date of the disclaimer. 

  
 The Fourth Schedule 
 Service Charge 
 Part I – Calculation and payment of the Service Charge 
  

	1	 	In this Schedule unless the context otherwise requires: 

  

	1.1	 	Accounting Date means 31 December in each year or such other date as the Landlord notifies in writing to the Tenant from time to time; 

  

 21 

	1.2	 	Accounting Year means the period from but excluding one Accounting Date to and including the next Accounting Date; 

  

	1.3	 	Estimated Service Charge means the Landlord’s Surveyor’s reasonable and proper estimate of the Service Charge for the Accounting Year notified in writing to
the Tenant from time to time (and where all or any part of the Services are provided by the Management Company, the Estimated Service Charge shall include the advance or estimated payments payable by the Landlord to the Management Company in respect
of any of the Services provided by it); 

  

	1.4	 	Service Cost means: 

  

	 	1.4.1	 	all the costs and expenses paid or incurred by the Landlord (whether by way of reimbursement or otherwise) in relation to the provision of the Estate Services (including
irrecoverable VAT) or the sums payable by the Landlord to the Management Company (or any other party) in respect of the provision of those services; and 

  

	 	1.4.2	 	all the costs and expenses paid or incurred by the Landlord in relation to the provision of the Phase Services (including irrecoverable VAT) or the sums payable by the
Landlord to the Management Company (or any other party) in respect of the provision of those services; and 

  

	 	1.4.3	 	all the costs and expenses paid or incurred by the Landlord in relation to the provision of the Building Services (including irrecoverable VAT); 

  

	1.5	 	Tenant’s Share means a fair and reasonable proportion of the Service Cost determined by the Landlord acting reasonably which would provide a full recovery of the
Service Cost if all other occupiers in the Building and the Phase (including the Landlord in relation to any part of the Building or the Phase which is intended to be let, but is for the time being unlet) were also to contribute a fair and
reasonable proportion of the Service Cost. 

  

	2	 	The Service Charge shall be the Tenant’s Share of the Service Cost in respect of each Accounting Year, and if only part of an Accounting Year falls within the Term the
Service Charge shall be the Tenant’s Share of the Service Cost in respect of relevant Accounting Period divided by 365 and multiplied by the number of days of the Accounting Year within the Term 

  

	3	 	The Landlord shall have the right to adjust the Tenant’s Share from time to time to make reasonable allowances for differences in the services provided to or enjoyable
by the other occupiers of the Building, Estate or Phase. 

  

	4	 	The Tenant shall pay the Estimated Service Charge for each Accounting Year to the Landlord in advance by equal instalments on the Quarter Days, the first payment for the
period from and including the date of this Lease to (but excluding) the next Quarter Day to be made on the date of this Lease and payments and:- 

  

	4.1	 	If the Landlord’s Surveyor does not notify an estimate of the Service Charge for any Accounting Year the Estimated Service Charge for the preceding Accounting Year shall
apply; and 

  

	4.2	 	Any adjustment to the Estimated Service Charge after the start of an Accounting Year shall adjust the payments on the following Quarter Days equally.

  

	5	 	As soon as practicable after the end of each Accounting Year the Landlord shall either: 

  

	5.1	 	(in relation to the Services provided by the Landlord) serve on the Tenant a full and accurate summary of the Service Cost and a statement of the Service Charge certified by
the Landlord’s Surveyor which shall be conclusive (save in the case of manifest error or fraud); or 

  

	5.2	 	(where any of the Services are provided by the Management Company) provide the Tenant with a copy of the statement and other information prepared by the Management Company in
relation to the Service Cost. 

  

	6	 	The difference between the Service Charge and the Estimated Service Charge for any Accounting Year (or part) shall be paid by the Tenant to the Landlord within fourteen days
of 

  

 22 

 the date of the statement for the Accounting Year, or allowed against the next Estimated Service Charge
payment, or after the expiry of the Term refunded to the Tenant within fourteen Working Days. 
  

	7	 	The Tenant shall be entitled by appointment to inspect the accounts maintained by the Landlord and the Landlord’s Surveyor relating to the Service Cost and supporting
vouchers and receipts or, where any Services are provided by the Management Company, the accounts provided by the Management Company to the Landlord in relation to the Services, at such location as the Landlord reasonably directs.

  

	8	 	Any omission by the Landlord to include in the Service Cost for any Accounting Year a sum expended or a liability incurred in that year shall not prevent the Landlord from
including it in the Service Cost in the subsequent Accounting Year. Provided that the Tenant shall not be liable to contribute towards omissions prior to the date hereof 

  

	9	 	Special Costs 

  
 Provided that and it is hereby agreed that where the cost of providing any of the services listed in parts II and III of this Schedule arise as a result
of a breach by the Developer or Professional Team of the terms of their contracts for the construction or professional services for the construction of the Building or Phase or Estate (as the case may be) the Landlord will use all reasonable
endeavours to reclaim the costs of remedying the breach from the Developer and/or the Professional Team and credit against any expenditure incurred as a result of that breach in providing any of the services listed in parts II and III of this
Schedule any damages, costs awarded or payments received by the Landlord or the Management Company for such breaches of contract but only in so far as they have been included in the actual costs of providing the services listed in parts II and III
of this Schedule 
  
 Part II – Estate Services and Phase
Services 
  
 In relation to the Estate and/or the Phase, the
provision of the following services or the Costs incurred in relation to: 
  

	1	 	The Common Areas 

  
 Repairing, maintaining and (where appropriate) cleaning, lighting and (as necessary) renewing, rebuilding and reinstating the Estate Common Areas and/or
the Phase Common Areas. 
  

	2	 	Conduits 

  
 The repair, maintenance and cleaning and (as necessary) replacement and renewal of all Conduits within the Estate Common Area and/or the Phase Common
Areas. 
  

	3	 	Plant and machinery 

  
 Hiring, operating, inspecting, servicing, overhauling, repairing, maintaining, cleaning, lighting and (as necessary) renewing or replacing any plant,
machinery, apparatus and equipment from time to time within the Estate Common Areas and/or the Phase Common Areas or used for the provision of services to the Estate or the Phase and the supply of all fuel and electricity for the same and any
necessary maintenance contracts and insurance in respect thereof. 
  

	4	 	Signs 

  
 Maintaining and (where appropriate) cleaning and lighting and (as necessary) renewing and replacing the signboards, all directional signs, fire regulation
notices, advertisements, bollards, roundabouts and similar apparatus or works. 
  

 23 

	5	 	Landscaping 

  
 Maintaining, tending and cultivating and (as necessary) re-stocking any garden or grassed areas including replacing plants, shrubs and trees as necessary.

  

	6	 	Common facilities 

  
 Repairing maintaining and (as necessary) rebuilding as the case may be any party walls or fences, party structures, Conduits or other amenities and
easements which may belong to or be capable of being used or enjoyed by the Estate or Phrase in common with any land or buildings adjoining or neighbouring the Estate or Phase. 
  

	7	 	Outgoings 

  
 Any existing and future rates, taxes, charges, assessments and outgoings in respect of the Estate Common Areas and/or the Phase Common Areas or any part
of them except tax (other than VAT) payable in respect of any dealing with or any receipt of income in respect of the Estate Common Areas and/or the Phase Common Areas. 
  

	8	 	Statutory requirements 

  
 The cost of complying with statutory requirements relating to the Estate or the Phase (other than in connection with its initial construction) and
carrying out any further works (after the initial construction in accordance with statutory requirements) to the Estate Common Areas and/or the Phase Common Areas required to comply with any statute. 
  

	9	 	Management 

  

	9.1	 	The proper and reasonable fees, costs, charges, expenses and disbursements (including irrecoverable VAT) of any person properly employed or retained for or in connection with
surveying or accounting functions or the performance of the Services and any other duties in and about the Estate or Phase relating to the Estate Common Areas and/or the Phase Common Areas together with the general management, administration,
security, maintenance, protection and cleanliness of the Estate or Phase. 

  

	9.2	 	The proper and reasonable fees and expenses of the Landlord and/or the Management Company in connection with the management of the Estate or Phase. 

 

	10	 	Enforcement of Regulations 

  
 The reasonable and proper costs and expenses incurred by the Landlord and/or the Management Company in enforcing the rules and regulations from time to
time made pursuant to paragraph 3 of Part II of the First Schedule provided that the Landlord and/or Management company shall use all reasonable endeavours to recover such costs and expenses from the defaulting party and provided further that there
shall be credited against the Service Cost any such costs recovered. 
  

	11	 	Enforcement of Covenants 

  
 Using reasonable endeavours to enforce compliance by the owners or occupiers of any part of the Estate with their covenants in any transfer or lease or in
any deed of covenant or supplemental deed including the Costs incurred in carrying out works or taking any lawful action following a default by such persons to comply with the said covenants and all reasonable and proper legal fees (including VAT)
incurred by the Landlord in seeking to recover any such Costs and expenses from such defaulting persons Provided That there shall be credited against the expenditure any damages and all costs awarded to and received by the Landlord in such
proceedings or received by it as a term of settlement of any such proceedings or any claim relating to those proceedings. 
  

	12	 	Insurances 

  
 Effecting such insurances (if any) as the Landlord and/or the Management Company may properly think fit in respect of the Estate Common Areas and/or the
Phase Common Areas the plant, machinery, apparatus and equipment as referred to in paragraph 3 above and any other 
  

 24 

 liability of the Landlord and/or the Management Company to any person in respect of those items or in
respect of the provision of the Services together with the cost of any professional valuations properly required by the Landlord and not the responsibility of an individual tenant. 
  

	13	 	Generally 

  
 Any reasonable and proper costs (not referred to above) which the Landlord and/or the Management Company may incur in providing such other services and in
carrying out such other works (other than the initial construction of the Estate or Phase) as the Landlord and/or the Management Company may reasonably consider to be reasonably desirable or necessary for the benefit of occupiers of the Estate or
Phase. 
  

	14	 	VAT 

  
 Irrecoverable VAT on any of the foregoing. 
  
 Part III – Building Services 
  
 In relation to the Building, the provision of the following services or the Costs incurred in relation to: 
  

	1	 	Repairs to the Building (including lifts and Conduits) 

  
 Repair, renewal, decoration, cleaning and maintenance of the foundations, roof, exterior and structure, the lifts and all lift machinery, the Conduits,
plant and equipment (which are not the responsibility of any tenants of the Building). 
  

	2	 	Common Parts 

  

	 	(a)	 	Repair, renewal, decoration, cleaning, maintenance and lighting of the Common Parts and other parts of the Building not comprised in the Lettable Units; 

  

	 	(b)	 	Furnishing, carpeting and equipping the Common Parts; 

  

	 	(c)	 	Cleaning the outside of all external windows; 

  

	 	(d)	 	Providing and maintaining any plants, or floral displays in the Common Parts; 

  

	 	(e)	 	Providing signs, nameboards and other notices within the Building; 

  

	 	(f)	 	All refuse disposal costs relating to the Building not the responsibility of an individual tenant. 

  

	3	 	Heating etc. services 

  

	 	(a)	 	Providing heating, air conditioning and ventilation other than to the Lettable Units to such standards and between such hours as the Landlord reasonably decides;

  

	 	(b)	 	Procuring water and sewerage services. 

  

	4	 	Fire Fighting and Security 

  
 Provision, operation, repair, renewal, cleaning and maintenance of fire alarms, sprinkler systems, fire prevention and fire fighting equipment and
ancillary apparatus and security alarms, apparatus and systems as the Landlord considers appropriate. 
  

	5	 	Outgoings 

  
 All existing and future rates, taxes, charges, assessments and outgoings payable to any competent authority or for utilities except in respect of the
Lettable Units. 
  

	6	 	Statutory Requirements 

  
 The cost of complying with statutory requirements relating to the Building (other than in connection with its initial construction) and carrying out any
further works to the Building (after its initial construction in accordance with statutory requirements) required to comply with any 
  

 25 

 statute and all costs incurred in connection with compliance with all requirements relating to health and
safety including without limitation the assessment of any risk to the health and safety of any persons in the Building or who may be affected by its use and occupation and the establishment of procedures to monitor the control of such risks.

  

	7	 	Insurances 

  
 Effecting such insurance (if any) as the Landlord may properly think fit in respect of the Building, the plant machinery apparatus and equipment in it,
any fixtures fittings and furnishings in the Common Areas and any other liability of the Landlord in relation to the Building to any person in respect of those items or in respect of the provision of the Services together with the cost of any
professional valuations properly required by the Landlord and not the responsibility of an individual tenant. 
  

	8	 	Management 

  
 Costs relating to the Building of the type referred to in paragraph 9 of Part II of this Schedule. 
  

	9	 	General 

  

	9.1	 	Establishing and maintaining reserves to meet the future costs (as from time to time estimated by the Landlord’s Surveyor) of providing the Building Services;

  

	9.2	 	Any reasonable and proper costs (not referred to above) which the Landlord may incur in providing such other services and in carrying out such other works as the Landlord may
reasonably consider to be reasonably desirable or necessary for the benefit of occupiers of the Building. 

  

					
	 [On Original]
	  	 	  	 
	 Executed as a deed by
	  	)	  	 
	 CGNU LIFE ASSURANCE LIMITED
	  	)	  	 
	 but not delivered until the date inserted
	  	)	  	 
	 above and signed by two authorised
	  	)	  	 
	 signatories of that company
	  	)	  	 
	 	  	 	  	 /s/ Sandra Godfrey

 Authorised Signatory

			
	 	  	 	  	 /s/ [Authorised Signatory]

 Authorised Signatory

  

 26 

			
	 [On Counterpart]
	 	 
	 EXECUTED (but not delivered until the
 date hereof) as a
deed by CAMBRIDGE
 DISPLAY TECHNOLOGY LIMITED
 acting by two directors of that company
 or a director and the company secretary
	 	 
		
	 Director
	 	/s/ David Fyfe
		
	 Secretary/Director
	 	/s/ Stephen Chandler

  

 27Lease, dated June 27, 2000 (Greenwich House, Madingley Rise)

 Exhibit 10.28 
  
 DATED 27th July 2000 
  
 UNIVERSITY OF
CAMBRIDGE (1) 
 CDT HOLDINGS PLC (2) 
  
 LEASE OF PART 
  
 relating to Part Ground Floor and Part First Floor Premises at 
 Greenwich
House Madingley Road Cambridge 
  

 INDEX TO CLAUSES 
  

							
	CLAUSE NO.

	 	 SUBJECT

	  	 
	1	 	 	 	 INTERPRETATION AND DEFINITIONS
	  	1
				
	2	 	 	 	 DEMISE
	  	8
				
	3	 	 	 	 TENANT’S COVENANTS
	  	8
				
	 	 	3.1	 	 Rents
	  	8
	 	 	3.2	 	 Outgoings
	  	9
	 	 	3.3	 	 Electricity and other charges
	  	9
	 	 	3.4	 	 Service Charge
	  	9
	 	 	3.5	 	 Repair
	  	10
	 	 	3.6	 	 Yielding up
	  	11
	 	 	3.7	 	 Inspection and notices to remedy
	  	11
	 	 	3.8	 	 Entry for Adjoining Property
	  	12
	 	 	3.9	 	 Cleaning and refuse
	  	12
	 	 	3.10	 	 Obstruction of Conduits
	  	13
	 	 	3.11	 	 Fire precautions
	  	13
	 	 	3.12	 	 Prohibited uses and activities
	  	13
	 	 	3.13	 	 Permitted user
	  	14
	 	 	3.14	 	 Easements
	  	15
	 	 	3.15	 	 Advertisements and signs
	  	15
	 	 	3.16	 	 Letting and sale boards
	  	16
	 	 	3.17	 	 Landlord’s costs and expenses
	  	16
	 	 	3.18	 	 Statutory requirements and defective premises
	  	17
	 	 	3.19	 	 Notices
	  	18
	 	 	3.20	 	 Planning Acts
	  	19
	 	 	3.21	 	 Planning applications
	  	19
	 	 	3.22	 	 Purchase notices and planning compensation
	  	20
	 	 	3.23	 	 Alterations
	  	21
	 	 	3.24	 	 Assignment
	  	23
	 	 	3.25	 	 Underletting
	  	23
	 	 	3.26	 	 Registration
	  	26
	 	 	3.27	 	 Overloading
	  	26
	 	 	3.28	 	 Indemnity
	  	27
	 	 	3.29	 	 Value Added Tax
	  	27
	 	 	3.30	 	 Heating cooling and ventilation
	  	28
	 	 	3.31	 	 Regulations
	  	28
	 	 	3.32	 	 Key holders
	  	28
				
	4	 	 	 	 LANDLORD’S COVENANTS
	  	28
				
	 	 	4.1	 	 Quiet enjoyment
	  	28
	 	 	4.2	 	 Services
	  	29

							
	5	 	 	 	 INSURANCE
	  	30
	 	 	5.1	 	 Landlord to insure
	  	30
	 	 	5.2	 	 Tenant’s insurance covenants
	  	30
	 	 	5.3	 	 Rent suspension
	  	33
	 	 	5.4	 	 Termination on destruction
	  	33
				
	6	 	 	 	 SERVICE CHARGE
	  	34
				
	7	 	 	 	 PROVISOS
	  	36
				
	 	 	7.1	 	 Forfeiture
	  	36
	 	 	7.2	 	 Interest
	  	38
	 	 	7.3	 	 Non-waiver
	  	38
	 	 	7.4	 	 Exclusion of planning warranty
	  	39
	 	 	7.5	 	 Arbitration
	  	39
	 	 	7.6	 	 Disputes between tenants
	  	39
	 	 	7.7	 	 Non-acquisition of easements
	  	39
	 	 	7.8	 	 Compensation
	  	40
	 	 	7.9	 	 Access to Common Parts
	  	40
	 	 	7.10	 	 Notices
	  	40
				
	8	 	 	 	 EXCLUSION OF SECURITY
	  	40
				
	9	 	 	 	 EXEMPT CHARITY
	  	41
				
	10	 	 	 	 NO AGREEMENT FOR LEASE
	  	41
		
	THE FIRST SCHEDULE	  	41
			
	PART 1	 	 Description of Premises
	  	41
	PART 2	 	 Rights granted to the Tenant
	  	42
	PART 3	 	 Rights reserved to the Landlord
	  	43
		
	THE SECOND SCHEDULE	  	 
	Yearly Rent	  	45
		
	THE THIRD SCHEDULE	  	 
	The Services	  	45
		
	THE FOURTH SCHEDULE	  	 
	The Costs	  	47

  

 2 

 INDEX TO CLAUSES 
  

			
	 CLAUSE NO.
	  	SUBJECT

  
 T H I
S  L E A S E made the Twenty Seventh day of July Two Thousand 
  
 B E T W E E N:- 
  

					
	1	  	The Landlord:	 	THE CHANCELLOR MASTERS AND SCHOLARS OF THE UNIVERSITY OF CAMBRIDGE (which expression shall where the context so admits include the persons deriving title under the Landlord)
			
	2	  	The Tenant:	 	CDT HOLDINGS PLC whose registered office is at Greenwich House Madingley Road Cambridge (which expression shall where the context so admits include the persons deriving title under the
Tenant)

  
 W I T
N E S S E T H as follows:- 
  

	1	INTERPRETATION AND DEFINITIONS 

  
 In this Lease except where the context otherwise requires:- 
  

	1.1	The following expressions shall have the following meanings:- 

  

	 	1.1.1	“Adjoining Property” means all property and premises adjacent or near to the Building together with any buildings for the time being thereon or forming part thereof

  

	 	1.1.2	“Annual Expenditure” means:- 

  

	 	1.1.2.1	all costs expenses and outgoings whatsoever reasonably and properly incurred by the Landlord in providing all or any of the Services and 

	 	1.1.2.2	all sums reasonably and properly incurred by the Landlord in relation to the items set out in the Fourth Schedule hereto and any VAT payable thereon (“the Costs”) but
excluding any expenditure in respect of any part of the Building for which the Tenant or any other tenant shall be wholly responsible and excluding the cost of any works of repair or otherwise where such works are the result of damage or destruction
by any of the Insured Risks 

  

	 	1.1.3	“Authorised Guarantee Agreement” means an agreement by deed with the Landlord (whether or not incorporated in another deed) guaranteeing the observance and performance of
the covenants on the part of the tenant in this Lease and any deed licence consent or other instrument supplemental to this Lease during any period when by virtue of the Landlord and Tenant (Covenants) Act 1995 the assignee of the Tenant is bound by
the covenants on the part of the tenant in this Lease and containing a provision that in the event of this Lease being disclaimed during such period if so required by the Landlord to accept a new lease of the Premises for a term equal to the
unexpired residue of the Term at the date of such disclaimer at the Rents then payable and otherwise on the same terms and conditions as contained in this Lease 

  

	 	1.1.4	“Building” means the building known as Greenwich House Madingley Road Cambridge for the purpose of identification only edged blue on the plan annexed hereto and marked
Plan “C” (“Plan C”) 

  

	 	1.1.5	“Common Conduits” means all Conduits in on or under serving the Building except any that solely serve the Premises or premises let or intended to be let to a tenant

  

 2 

	 	1.1.6	“Common Parts” means the pedestrian ways forecourts car parks landscaped areas entrance halls landings lift shafts lifts staircases passages toilets kitchens and other
areas which are from time to time during the Term provided by the Landlord for common sue and enjoyment by the tenants and occupiers of the Building and all persons expressly or by implication authorized by them and the internal common parts of the
Building are shown edged and hatched brown on Plan A and Plan B 

  

 3 

 INSERT MAP 
  

 4 

	 	1.1.7	“Conduits” means all pipes wires ducts cables channels sewers drains watercourses gutters shafts flues tubes subways or other things or equipment through along or by means
of which any gas electricity or other power telecommunications or water soil or other matter or service may pass including all ancillary fittings thereto 

  

	 	1.1.8	“Development” has the meaning given to it by Section 55 of the Town and Country Planning Act 1990 

  

	 	1.1.9	“Environmental Protection Act” means the Environmental Protection Act 1990 and all legislation supplementing the same or derived therefrom 

  

	 	1.1.10	“Insurance Rent” means the sums which the Landlord shall from time to time pay 

  

	 	1.1.10.1	by way of premium for insuring the Building against the Insured Risks and any increased premium payable as a result of any act or omission of the Tenant 

  

	 	1.1.10.2	for insuring against loss of rent in accordance with the provisions of this Lease and 

  

	 	1.1.10.3	for all professional fees in connection with the valuation of the Building for insurance purposes not more than once every three years during the Term 

  

	 	1.1.11	“Insured Risks” means fire storm tempest flood lightning explosion aircraft and other aerial devices or articles dropped therefrom riot malicious damage civil commotion
impact bursting and overflowing of pipes act of terrorism and such other insurance risks as the Landlord may reasonably from time to time deem expedient 

  

 5 

	 	1.1.12	“Planning Acts” means the Town and Country Planning Act 1990 and all legislation supplementing the same or derived therefrom 

  

	 	1.1.13	“Premises” means the premises more particularly described in Part 1 of the First Schedule and each and every part thereof 

  

	 	1.1.14	“Retained Parts” means all parts of the Building not let or intended to be let to a tenant including (without prejudice to the generality of the foregoing) the Common
Parts the Common Conduits the Structural Parts and office accommodation for porters receptionists and any ancillary staff 

  

	 	1.1.15	“Services” means the services set out in the Third Schedule hereto 

  

	 	1.1.16	“Service Charge” means forty decimal point two four per cent (40.24%) (subject to clause 7.7) of the Annual Expenditure 

  

	 	1.1.17	“Structural Parts” means the following parts of the Building that is to say the roof foundations structural floors main walls columns beams and joists which are load
bearing or structural and the external and main structural parts of the Building including windows window frames doors and door frames 

  

	 	1.1.18	“Sublettable Part” means a unit of accommodation which is in the reasonable opinion of the Landlord or the Landlord’s Surveyor suitable for separate self-contained
occupation and shall be consistent with good estate management 

  

	 	1.1.19	“Superior Landlord” means any person or body entitled to the reversion either immediately or immediately expectant on the determination of a superior lease

  

 6 

	 	1.1.20	“Term” means the term granted by this Lease 

  

	 	1.1.21	“Yearly Rent” means the yearly rent hereby reserved and from time to time payable hereunder (but excluding the Insurance Rent and the Service Charge) and the term
“Rents” includes Yearly Rent the Insurance Rent the Service Charge and any other sum payable or expressed to be payable as rent 

  

	1.2	Words importing the neuter gender include also the masculine and feminine genders and words importing the singular number include also the plural number and where there are two or
more persons included in the terms “the Landlord”, “the Tenant” or (where applicable) “the Surety” the covenants expressed to be made by them respectively shall be deemed to be made by such persons jointly and severally

  

	1.3	Any reference to a statute shall be deemed to include reference to any further statute for the time being in force amending replacing modifying or supplementing such statute and any
regulation direction order instrument plan permission or directive made or issued thereunder or deriving validity therefrom 

  

	1.4	Any covenant by the Tenant not to do any act or thing shall be deemed to include a covenant not to permit or suffer the doing of such act or thing 

  

	1.5	All rights or easements exercisable by the Landlord hereunder shall also be exercisable by any Superior Landlord for the time being and all persons authorised by the Landlord or
such Superior Landlord and in every case where there is an obligation herein on the part of the Tenant to obtain consent from the Landlord there shall be deemed to be included an obligation to obtain consent from any Superior Landlord and of any
mortgagee of the Landlord 

  

 7 

	1.6	The clause headings herein shall not in any way affect the construction of this Lease 

  

	2	DEMISE 

  
 The Landlord hereby demises unto the Tenant ALL THAT the Premises TOGETHER with the rights specified in Part 2 of the First Schedule EXCEPT AND RESERVING
unto the Landlord and the tenants and occupiers at the Building or of any Adjoining Property now formerly or hereafter belonging to the Landlord and all other persons entitled thereto the rights specified in Part 3 of the First Schedule TO HOLD the
same unto the Tenant from and including the First day of August One thousand nine hundred and ninety-nine for the term of FIVE YEARS (determinable nevertheless as hereinafter mentioned) YIELDING AND PAYING therefore the Yearly Rent specified in the
Second Schedule hereto such Yearly Rent to be paid by equal quarterly payments in advance on the usual quarter days in each year and by way of further rents the Service Charge and Insurance Rent as herein provided 
  

	3	TENANT’S COVENANTS 

  
 The Tenant hereby covenants with the Landlord to observe and perform at all times during the Term all the covenants and provisions following that is to
say: 
  

	3.1	Rents 

  
 To pay the Rents at the times and in manner herein provided without any deductions by way of set-off or otherwise save such (if any) as the Tenant may by
law be required to make notwithstanding any agreement to the contrary and if so required to pay the Yearly Rent by bankers standing order 
  

 8 

	3.2	Outgoings 

  
 To pay and discharge in addition to the Rents all rates taxes duties charges assessments rent charges impositions and obligations and outgoings whatsoever
which are now or may at any time hereafter be assessed charged or imposed upon the Premises or the owner or occupier in respect thereof and if any such outgoings shall be charged levied assessed or imposed on the Premises jointly with or as part of
other premises to pay bear and discharge a fair and proper proportion of such outgoings (to be conclusively determined by the Landlord or the Landlord’s surveyor acting reasonably) any tax required by statute to be paid by the Landlord on the
rent hereby reserved by reason of any disposition or dealing with or ownership of any interest reversionary to the interest created by this Lease (other than Value Added Tax) only excluded 
  

	3.3	Electricity and other charges 

  

	 	3.3.1	To pay all charges for gas water electricity and telecommunications supplied to the Premises during the Term and at its own cost to install meters (if so reasonably required by the
Landlord) to record such supplies and to pay all hiring charges in connection with any meters to record such supplies 

  

	 	3.3.2	Not to overload the electricity or telecommunications circuits serving the Premises and to observe all regulations and requirements of the electricity water gas and
telecommunications suppliers or authorities 

  

	3.4	Service Charge 

  
 To pay throughout the Term by way of further rent the Service Charge payable in accordance with the provisions of clause 6 
  

 9 

	3.5	Repair 

  

	 	3.5.1	Well and substantially to cleanse maintain and repair the Premises and all fixtures and fittings fixed therein 

  

	 	3.5.2	In the last year of the Term (howsoever determined) to paint with two coats at least of good quality paint or otherwise treat as the case may require in a proper and workmanlike
manner all parts of the interior of the Premises in respect of which such painting or treatment is requisite and with every such inside painting or treatment in a proper and workmanlike manner to clean grain varnish and paper such parts of the
inside of the Premises as are usually so treated 

  

	 	3.5.3	In complying with the covenants in the preceding sub-clause hereof in the last year of the Term to use only materials of an approved colour quality and finish such approval not to
be unreasonably withheld or delayed and to ensure that any part of the Premises so painted and decorated shall not thereafter be soiled or damaged 

  

	 	3.5.4	Without prejudice to the generality of the foregoing covenants to cleanse repair and maintain all Conduits forming part of the Premises or serving the same exclusively

  

	 	3.5.5	PROVIDED THAT the liability of the Tenant under this clause shall not extend to damage caused by any of the Insured Risks unless the insurance moneys shall be rendered irrecoverable
in whole or in part by any act or default of the Tenant or anyone at the Premises expressly or by implication with the Tenant’s authority or anyone for whom it is responsible 

  

 10 

	3.6	Yielding up 

  
 At the end or sooner determination of the Term quietly to yield up the Premises unto the Landlord in accordance with the Tenant’s covenants herein
contained together with all fixtures and fittings therein or thereon except tenant’s trade fixtures and fittings provided that the same shall be removed prior to the date of the determination of the Term and that the Tenant shall forthwith make
good all damage occasioned by such removal to the satisfaction of the Landlord or the Landlord’s surveyor and in particular to remove all lettering and signs erected by the Tenant and also to return all keys to the Landlord Provided always that
if the Tenant shall have kept the carpet within the Premises in good condition (fair wear and tear excepted) the Tenant shall not be liable to replace the carpet at the end of the Term 
  

	3.7	Inspection and notices to remedy 

  
 To permit the Landlord and its agents at all reasonable times in the daytime during the Term and with or without workmen and others (upon giving
reasonable prior notice to the Tenant except in the case of emergency) to enter in or upon the Premises to view the state of repair and condition thereof and to give or leave on the Premises notice in writing to the Tenant of all wants of reparation
for which the Tenant is responsible and the Tenant shall pay to the Landlord the reasonable and proper costs of and in connection with the preparation and service of such notice and shall as soon as reasonably practicable and in any event within the
period of two calendar months after such notice (or sooner if the matter be urgent and the notice so states) commence and diligently proceed to repair and make good the same according to such notice and to the covenants in that behalf herein
contained PROVIDED ALWAYS that if the Tenant shall make default in complying with any such notice or shall at any time fail to comply with its obligations under this sub-clause it shall be lawful for the Landlord (but without 
  

 11 

 prejudice to the right of re-entry under the clauses in that behalf herein contained) to enter upon the
Premises or any part thereof and repair the same at the expense of the Tenant in accordance with the covenants and provisions hereof and the reasonable expense of such repairs and other expenses connected therewith shall be repaid forthwith by the
Tenant on demand and shall be recoverable by the Landlord at the Landlord’s option in like manner as rent in arrear or as a contractual debt 
  

	3.8	Entry for Adjoining Property 

  
 To permit the Landlord and its agents and workmen and the tenants or occupiers of the remainder of the Building and/or any Adjoining Property at all
reasonable times during the Term (upon giving reasonable prior notice having due regard to the nature of the works to the Tenant except in the case of emergency) to enter upon the Premises or any part thereof to execute any repairs or alterations to
or upon or for the benefit of the Building or such Adjoining Property provided that such works cannot economically be carried out by other means the Landlord or other persons exercising such rights causing as little disruption as reasonably
practicable and forthwith making good all damage to the Premises thereby caused 
  

	3.9	Cleaning and refuse 

  

	 	3.9.1	At least once in every month of the Term to clean or cause to be cleaned the interior of the windows and other glass in the Premises 

  

	 	3.9.2	Not to permit any waste or rubbish to accumulate on the Premises and to ensure that all waste and rubbish is placed in dustbins or other suitable containers

  

	 	3.9.3	Generally to keep the Premises clean and tidy 

  

 12 

	3.10	Obstruction of Conduits 

  
 Not to stop up or obstruct or permit or suffer oil grease trade effluent or any deleterious or other harmful matter or substance to enter the Conduits of
the Building the Premises or of any Adjoining Property 
  

	3.11	Fire precautions 

  
 At all times during the Term to comply with all requirements and recommendations from time to time of the appropriate authority in relation to fire
precautions affecting the Premises and at the expense of the Tenant to keep the Premises sufficiently supplied and equipped with fire fighting extinguishing apparatus and appliances suitable in all respects to the type of user of or business or
trade carried on or upon the Premises which shall be open to the inspection and maintained to the reasonable satisfaction of the Landlord and also not to obstruct the access to or means of working of such apparatus and appliances by its operations
at or connected with the Premises 
  

	3.12	Prohibited uses and activities 

  

	 	3.12.1	Not to do or bring on or in the Premises any act matter or thing of a dangerous noxious noisome or offensive nature or of a nature likely to cause pollution as defined in the
Environmental Protection Act or which may be or grow to be a danger an actionable nuisance or disturbance to the Landlord or to the Landlord’s tenants or occupiers for the time being of the Building or any Adjoining Property and (without
prejudice to the generality of the foregoing) not to store or bring upon the Premises any specially inflammable or any explosive substance or material or any machinery apparatus equipment or any other thing which may attack or in any way injure by
percolation corrosion vibration excessive weight or otherwise the structure or contents of the Building or the Premises or any Adjoining Property 

  

 13 

	 	3.12.2	Not at any time during the Term to use the Premises for or in connection with any illegal immoral offensive disreputable noisy or dangerous purpose whatsoever

  

	 	3.12.3	Not to hold upon the Premises any sale by auction or public meeting 

  

	 	3.12.4	Not to use the Premises for residential purposes 

  

	 	3.12.5	Not to do or permit anything to obstruct access to the Building the Premises or to any Adjoining Property and not to cause the Common Parts to become untidy

  

	 	3.12.6	Not to place within the Common Parts or expose thereon for sale any goods or things whatsoever 

  

	 	3.12.7	To indemnify the Landlord against any loss of rate holiday to which the Landlord might otherwise have been entitled at the end of the Term as a result of the Premises being
unoccupied at the end of the Term 

  

	 	3.12.8	On receiving notice from the Landlord or its surveyor of anything done or brought on or in the Premises which shall be inconsistent with the covenants contained in the preceding
sub-clauses forthwith to discontinue or remove the same and to take to the satisfaction of the Landlord or its surveyor all steps necessary to prevent any recurrence of the matter or matters mentioned in such notice 

  

	3.13	Permitted user 

  
 Not to use the Premises for any purposes other than for scientific research and development within Class B1(b) of the Schedule to the Town and Country

  

 14 

 Planning (Use Classes) Order 1987 Provided such research is compatible with research being carried on by
the Landlord and is not unsuitable having regard to the Landlord’s status as a University and not to use the Premises for any other purpose whatsoever 
  

	3.14	Easements 

  
 To preserve insofar as the Tenant is able the rights of light and other easements enjoyed by the Building and the Premises and not without the licence in
writing of the Landlord first obtained to enter into any agreement with or give any acknowledgement to the owner landlord or occupier of any other property with reference to any easement or right enjoyed or claimed by such owner landlord or occupier
over upon or under the Premises or the Building or enjoyed or claimed in respect of or for the benefit of the Premises or the Building over upon or under such other property and at all times at the cost of the Landlord to afford to the Landlord such
facilities and assistance as may enable the Landlord to prevent the acquisition by anyone of any rights of light or other easements over the Premises the Building or any part thereof 
  

	3.15	Advertisements and signs 

  
 Not to erect fix place or display in or upon the Premises any advertisement or advertisement board lettering sign or sign board (whether or not
illuminated) or anything whatsoever in the nature of an advertisement by display of lights or otherwise without the prior written consent of the Landlord or its surveyor (which shall not be unreasonably withheld or delayed in the case of any
reasonable sign or signs to be placed at the entrance of the Building stating the name or names of the Tenant and any permitted undertenant and the nature of its or their business) and forthwith upon written demand of the Landlord or its surveyor to
remove or cause to be removed any advertisement board sign or thing in the nature of an advertisement which may have been erected fixed placed or displayed in contravention of this covenant 
  

 15 

	3.16	Letting and sale boards 

  

	 	3.16.1	To permit the Landlord or its agents or employees at any time during the last twelve months of the Term on giving reasonable prior notice to the Tenant to enter upon the Premises
for the purpose of erecting a notice board stating that the Premises are to let or for sale which board shall not be interfered with by the Tenant and during the like period at reasonable times having regard to the business of the Tenant to permit
intending purchasers or tenants to enter upon and inspect the same on production of a written order to that effect 

  

	 	3.16.2	To permit prospective purchasers and mortgagees of the Landlord’s estate in the Premises the Building or any part thereof and their agents with authority from the Landlord or
its agents to inspect the Premises by prior notice at all reasonable times 

  

	3.17	Landlord’s costs and expenses 

  
 To pay to the Landlord all reasonable costs charges and expenses (including legal costs surveyor’s and other professional fees) which may be properly
incurred or borne by the Landlord in or in contemplation of: 
  

	 	3.17.1	any application to the Landlord for any consent or licence (whether or not granted or whether the application is withdrawn) 

  

	 	3.17.2	the recovery of arrears of Rents or any other sums payable hereunder and proceedings in connection therewith 

  

 16 

	 	3.17.3	any proceedings relating to the Premises under Sections 146 and 147 of the Law of Property Act 1925 (whether or not any right of re-entry or forfeiture has been waived by the
Landlord or the Tenant has been relieved under the provisions of the said Act) 

  

	 	3.17.4	any schedule of dilapidations served by the Landlord hereunder during or within three months after the expiration of the Term (but in all cases relating only to wants of repair
accruing during the Term) 

  

	3.18	Statutory requirements and defective premises 

  

	 	3.18.1	Throughout the Term at its own expense to observe and comply in all respects with the requirements and provisions of all statutes or byelaws for the time being in force and with any
notice or order lawfully served by a local or public authority or statutory undertaker upon either the Landlord or the Tenant applicable to the Tenant’s use and occupation of the Premises and to execute all such works and provide and maintain
all equipment installations and arrangements (including any heating sanitary ventilation or fire fighting equipment) which under any such enactment or by any duly authorised body or person may be required to be executed provided and maintained upon
or in respect of the Tenant’s user of the Premises for the employment or presence therein of any person or persons or any fixtures machinery plant or chattels for the time being affixed thereto or being thereon or used for the purposes thereof
AND FURTHER to indemnify the Landlord at all times against all costs charges and expenses of or incidental to the execution provision and maintenance of any such works equipment and arrangements as aforesaid and against any penalties damages
compensation claims costs or expenses which the Landlord may become liable to pay as a result of the Tenant’s breach or non 

  

 17 

 observance of the covenants contained in this sub-clause and to pay all reasonable and proper costs
charges and expenses incurred by the Landlord in abating a nuisance and in executing all such works as may be necessary for abating a nuisance AND in particular without prejudice to the generality of the foregoing to comply (where applicable) in all
respects with the provisions of any statutes and other obligations imposed by law or by any byelaws applicable to the Premises or in regard carrying on the trade or business for the time being carried on at or on the Premises 
  

	 	3.18.2	To give notice to the Landlord of any defect in the Premises which might give rise to an obligation on the Landlord to do or to refrain from doing any act or thing in order to
comply with the provisions of this Lease or any duty of care imposed on the Landlord pursuant to the Defective Premises Act 1972 or otherwise and at all times to display and maintain all notices which the Landlord may from time to time reasonably
require to be displayed at the Premises 

  

	3.19	Notices 

  
 As soon as reasonably possible and in any event within seven days of the receipt of notice of the same to give full particulars to the Landlord of any
permission notice order or proposal for a notice or order made given or issued to the Tenant in respect of the Landlord’s or the Tenant’s interest in the Premises by any government department local or public authority under or by virtue of
any statutory powers and to produce such permission notice order or proposal for a notice or order to the Landlord AND also without delay to take all necessary steps to comply with any such notice or order AND also at the request and cost of the
Landlord to make or join with the Landlord in making such objections or representations against or in respect of any such notice order or proposal as 
  

 18 

 aforesaid as the Landlord shall deem expedient provided that the Tenant shall not be so obliged if making
such objections or representations would (in the reasonable opinion of the Tenant) be against the best interests of the Tenant or its business 
  

	3.20	Planning Acts 

  
 Not to do or omit any act matter or thing in on or respecting the Premises which shall contravene the provisions of the Planning Acts AND at all times
hereafter to indemnify and keep indemnified the Landlord from and against all actions proceedings penalties costs expenses charges claims and demands whatsoever in respect of any such act matter or thing contravening the said provisions of the
Planning Acts or any of them as aforesaid 
  

	3.21	Planning applications 

  

	 	3.21.1	Whenever required at the expense in all respects of the Tenant to obtain from (as the case may be) the local planning authority or the Secretary of State for the Environment all
such consents and permissions (if any) as may be required for the carrying out of any operations on the Premises or the institution or continuance thereon of any use thereof which may constitute Development but so that no application for planning
permission shall be made without the previous written consent of the Landlord such consent not to be unreasonably withheld or delayed and 

  

	 	3.21.2	Notwithstanding any consent which may be granted by the Landlord hereunder not to carry out or make any alteration or addition to the Premises or any change of use thereof (being an
alteration or change of use which is prohibited by or for which the Landlord’s consent is required to be obtained hereunder and amounting to Development for 

  

 19 

 which a planning permission needs to be obtained) before a planning permission therefor has been
produced to the Landlord and acknowledged by the Landlord in writing as satisfactory to it and 
  

	 	3.21.3	Unless the Landlord shall otherwise direct (or unless the Tenant shall not have implemented the planning permission) to carry out and complete before the expiration or sooner
determination of the Term any works stipulated to be carried out to the Premises by a date subsequent to such expiration or sooner determination as a condition of any planning permission granted for any Development begun before such expiration or
sooner determination and 

  

	 	3.21.4	If the Landlord so directs to make application to the relevant planning authority for a determination whether any alteration change of use or other action or proposal by the Tenant
requires permission under the Planning Acts and to give written notice to the Landlord of the decision of the relevant authority upon any such application forthwith and 

  

	 	3.21.5	If and when called upon so to do to produce to the Landlord or the Landlord’s surveyor all such plans documents and other evidence as the Landlord may require in order to be
reasonably satisfied that the provisions of this clause have been complied with in all respects 

  

	3.22	Purchase notices and planning compensation 

  

	 	3.22.1	Not to serve any notice under the Planning Acts requiring any local authority to purchase the Tenant’s interest in the Premises without first offering to surrender this Lease
to the Landlord at the price that might reasonably be expected to be obtained from the local authority pursuant to such purchase notice such price in the absence of agreement between the parties to be referred to arbitration in accordance with the
provision hereinafter contained 

  

 20 

	 	3.22.2	If the Tenant shall receive any compensation with respect to the Tenant’s interest because of any restriction placed upon the user of the Premises under or by virtue of the
Planning Acts then if and when the Tenant’s interest hereunder shall be determined by assignment or under the power of re-entry herein contained forthwith to make such provision as is just and equitable for the Landlord to receive due benefit
from such compensation 

  

	3.23	Alterations 

  

	 	3.23.1	Not to make any addition or alteration to the Premises nor to erect any new building or structure thereon save and except such works as are permitted by the following provisions of
this sub-clause 

  

	 	3.23.2	Not to carry out any works so as to connect or link the Premises to or with any other parts of the Building or any Adjoining Property nor to cut maim injure or in any way alter the
Structural Parts 

  

	 	3.23.3	Not to erect or place on the Premises any temporary or moveable buildings or structure without the written consent of the Landlord (which may be given or withheld at the
Landlord’s discretion) 

  

	 	3.23.4	Subject always to the provisions of the immediately preceding two sub-clauses not to make any internal non-structural alterations or additions to the Premises (meaning internal
works not affecting the load bearing structure of the Building) or any alterations to Conduits therein without the written consent of the Landlord such consent not to be unreasonably withheld or delayed subject to the Tenant:-

  

	 	3.23.4.1	obtaining and complying with all necessary consents of any competent authority and paying all charges of any such authority in respect of such consents 

  

 21 

	 	3.23.4.2	making a written application supported (if the Landlord reasonably so requires) by drawings and where appropriate a specification in duplicate prepared by an architect (or member of
some other appropriate profession) (who shall supervise the work throughout to completion) 

  

	 	3.23.4.3	paying the proper fees of the Landlord and its professional advisers and 

  

	 	3.23.4.4	entering into such covenants as the Landlord may reasonably require as to the execution and reinstatement of the alterations 

  

	 	3.23.5	Notwithstanding the provisions of sub-clauses 3.23.3 and 3.23.4 above the Tenant shall be permitted to erect move or remove demountable partitioning in the Premises without the
consent of the Landlord subject to the Tenant removing such partitioning and reinstating the Premises at the expiration or sooner determination of the Term 

  

	 	3.23.6	To complete any works or alterations which have been approved under the terms of this clause in a good and workmanlike manner to the satisfaction of the Landlord or its surveyor and
in all cases to make good any damage to the Premises or to any adjoining premises caused by such works or alterations and to indemnify the Landlord against all liability in connection therewith 

  

	 	3.23.7	Not at any time during the Term to make any alteration or addition to the electrical installation or other services in the Premises save in 

  

 22 

 accordance with the terms and conditions laid down by the Institution of the Electrical Engineers and
the regulations of the Electricity Supply Authority or other competent statutory authority or undertaker (as the case may be) 
  

	 	3.23.8	At the expiration or sooner determination of the Term if so requested by the Landlord to remove reinstate and make good to the satisfaction of the Landlord or its surveyor all such
additions alterations and works as aforesaid or such part or parts thereof as may be required by the Landlord to be removed reinstated or made good 

  

	3.24	Assignment 

  
 Not to assign transfer or part with possession of the Premises or any part thereof except by way of underletting in accordance with clause 3.25 hereof

  

	3.25	Underletting 

  

	 	3.25.1	Not at any time to underlet or part with or share possession or occupation of the whole or any part of the Premises save that the Tenant may upon obtaining the Landlord’s prior
written consent (which shall not be unreasonably withheld or delayed) underlet the whole of the Premises as a single entity or parts of the Premises provided such parts comprise a Sublettable Part and any such consent shall be by deed to be prepared
by the Landlord but at the expense of the Tenant which shall if required by the Landlord contain covenants by the intended underlessee (which shall be joint and several in the case of two or more persons) directly with the Landlord to perform and
observe the Tenant’s covenants and conditions herein contained in respect of the part of the Premises sublet (including this covenant but except the covenant to pay Rents) for the duration of the liability of the 

  

 23 

 undertenant under the tenant covenants of the underlease PROVIDED ALWAYS that the Tenant shall obtain
the approval of the Landlord’s solicitors to the principal terms of any such underletting before granting the same (such approval not to be unreasonably withheld or delayed) and PROVIDED ALSO that the Tenant shall not underlet the whole or part
of the Premises unless on each and every occasion an Order of the Court shall have been obtained prior to the grant of the Underlease effectively excluding therefrom the provisions of Sections 24 to 28 inclusive of the Landlord and Tenant Act 1954

  

	 	3.25.2	Not to create or permit the creation of any interest derived out of the Term howsoever remote or inferior upon the payment of a fine or premium and every underletting for which a
consent is granted under the preceding sub-clause shall be by way of underlease at a full open market rack rent on the same basis and assumption and the remaining terms of the underlease shall be compatible herewith and further every such underlease
shall contain (inter alia):- 

  

	 	3.25.2.1	an unqualified covenant on the part of the underlessee not to assign underlet or transfer any part or parts (as opposed to the whole) of the sub-demised premises nor to underlet the
whole thereof and save as permitted by the paragraph next following not to part with or share possession of the whole or any part of the sub-demised premises nor to permit any person company or body other than the underlessee to occupy or share
occupation of the same 

  

	 	3.25.2.2	a covenant on the part of the underlessee not to assign the whole of the sub-demised premises without the previous written consent of the Landlord under this present Lease (such
consent not to be unreasonably withheld or delayed) 

  

 24 

	 	3.25.2.3	a clause excluding the provisions of sections 24 to 28 of the Landlord and Tenant Act 1954 pursuant to an order of the Court 

  

	 	3.25.3	In connection with any permitted underlease following grant of the same:- 

  

	 	3.25.3.1	not to consent to or participate in any variation or addition whatsoever to such underlease (or any of the terms thereof) without the prior written consent of the Landlord such
consent not to be unreasonably withheld or delayed 

  

	 	3.25.3.2	to enforce all the covenants and obligations of the underlessee thereunder 

  

	 	3.25.3.3	to procure that in any permitted underletting the rent is reviewed under such underletting in accordance with the terms of the underlease (if any) 

  

	 	3.25.4	Provided that in any application to the Landlord for consent under the provisions of this sub-clause the Tenant shall if requested by the Landlord be accompanied by audited accounts
or other information reasonably requested by the Landlord in respect of the previous three years trading figures of such person 

  

	 	3.25.5	Notwithstanding the foregoing provisions of this sub-clause the Tenant shall be entitled to allow any company that is a member of the same group as the Tenant (within the meaning of
Section 42 of the Landlord and Tenant Act 1954) to occupy the whole or part of the Premises PROVIDED THAT such occupation is as licensee only shall not afford exclusive occupation and no security of tenure is thereby given and such occupation shall
forthwith be determined if the Tenant and 

  

 25 

 such company shall cease for any reason whatsoever to be members of the same group and PROVIDED FURTHER
that before the Tenant allows such occupation it shall notify the Landlord in writing of the name and registered office of such company and shall (if requested) provide to the Landlord evidence of the shareholdings in such company 
  

	3.26	Registration 

  

	 	3.26.1	Upon every assignment underlease charge or other devolution of the Premises or part thereof or any assignment of an underlease or the grant or assignment of any sub-underlease (if
and so far as such dealings are permitted hereunder) to give to the Landlord or its solicitors within one month thereafter notice in writing with particulars thereof and to supply with such notice a certified copy of the assignment underlease
probate Letters of Administration or other evidence of devolution and to pay to the Landlord or its solicitors a reasonable registration fee of not less than Twenty pounds (£20) plus Value Added Tax thereon 

  

	 	3.26.2	To supply to the Landlord any details required by the Landlord pursuant to Section 40 of the Landlord and Tenant Act 1954 

  

	3.27	Overloading 

  
 Not to load or use the structure of the Building or the Premises or the flooring thereof or any of the Conduits therein in such a way that may overload
damage or weaken the same 
  

 26 

	3.28	Indemnity 

  
 To be responsible for and to keep the Landlord fully indemnified against all actions claims liabilities costs damages expenses judgments penalties losses
and demands brought and made against or suffered or incurred by the Landlord arising directly or indirectly out of:- 
  

	 	3.28.1	Any act omission or negligence of the Tenant or any persons at the Premises expressly or impliedly with the Tenant’s authority or 

  

	 	3.28.2	Any breach or non observance by the Tenant of the covenants conditions or other provisions of this Lease or 

  

	 	3.28.3	The Tenant’s user of the Premises or the state of repair or condition thereof or 

  

	 	3.28.4	Damage to or pollution of the environment (“pollution” and “environment” both as defined in the Environmental Protection Act) or damage to property or harm to
human health arising by the act omission or negligence of the Tenant or any persons at the Premises expressly or impliedly with the Tenant’s authority or by the presence at or on the Premises of any substance whether in liquid or solid form or
in the form of gas or vapour 

  

	3.29	Value Added Tax 

  
 To pay and indemnify the Landlord against all Value Added Tax or any tax of a similar nature that may be substituted for it or which may be chargeable
upon 
  

	 	3.29.1	any sums (including Rents) due from the Tenant under the terms of this Lease and 

  

 27 

	 	3.29.2	any building work or any alterations of any kind carried out in on or in relation to the Premises or any part thereof by the Tenant 

  

	3.30	Heating cooling and ventilation 

  
 Not to do anything which interferes with the heating cooling or ventilation of the Common Parts or other parts of the Building or which imposes an
additional load on the heating cooling or ventilation plant and equipment 
  

	3.31	Regulations 

  
 To comply with all reasonable regulations made by the Landlord notified to the Tenant in writing from time to time for the management of the Building
provided that nothing in such regulations shall purport to amend the terms of this Lease and in the event of any inconsistency between the terms of this Lease and such regulations the terms of this Lease shall prevail 
  

	3.32	Key holders 

  
 To ensure that at all times the Landlord (or its managing agents) have written notice of the name and address and home telephone number of at least two
key holders of the Premises 
  

	4	LANDLORD’S COVENANTS 

  
 The Landlord hereby covenants with the Tenant: 
  

	4.1	Quiet enjoyment 

  
 That the Tenant paying the Rents and performing and observing the covenants conditions and agreements herein contained and on the Tenant’s part to be
performed and observed shall and may peaceably and quietly hold and enjoy the Premises during the Term without any lawful interruption or disturbance from or by the Landlord or any person or persons rightfully claiming under or in trust for the
Landlord 
  

 28 

	4.2	Services 

  

	 	4.2.1	Subject to the Tenant paying to the Landlord the Service Charge and complying with all the other covenants and conditions in this Lease the Landlord will perform the Services
throughout the Term provided that the Landlord shall not be liable to the Tenant in respect of:- 

  

	 	4.2.1.1	any failure or interruption in any of the Services by reason of necessary repair replacement maintenance of any installations or apparatus or their damage or destruction or by
reason of mechanical or other defect or breakdown or frost or other inclement conditions or shortage of fuel materials water or labour or any other cause beyond the Landlord’s control provided that the Landlord shall have used reasonable
endeavours to restore the Services as soon as reasonably practicable or 

  

	 	4.2.1.2	any act omission or negligence of any porter attendant or other person undertaking the Services or any of them on behalf of the Landlord provided that this sub-clause shall not be
construed as relieving the Landlord from liability for breach by the Landlord of any covenants on the part of the Landlord contained in this Lease 

  

	 	4.2.2	The Landlord may withhold add to extend vary or make any alteration in the rendering of the Services or any of them from time to time if the Landlord in its reasonable discretion
deems it desirable to do so provided that the business of the Tenant is not adversely affected 

  

 29 

	5	INSURANCE 

  

	5.1	Landlord to insure 

  
 The Landlord hereby covenants with the Tenant to keep the Building insured against the Insured Risks subject to such exclusions excesses and limitations
as are imposed by the insurers AND whenever reasonably required to produce to the Tenant at the Tenant’s expense a copy or full details of the insurance policy and evidence of payment of the current year’s premium AND save to the extent
that the insurance moneys become irrecoverable through any act neglect or default of the Tenant or any employee servant agent licensee or customer of the Tenant to cause all moneys received by virtue of such insurance (other than insurance against
loss of rent) to be laid out towards the cost of rebuilding and reinstating the Building to their former state with such variations (if any) as may be reasonably required by the Landlord having regard to the then existing statutory provisions
bye-laws and regulations affecting the same and any necessary planning approval PROVIDED ALWAYS that if such rebuilding or reinstatement shall be prevented or frustrated all such insurance moneys shall be the absolute property of the Landlord

  

	5.2	Tenant’s insurance covenants 

  
 The Tenant hereby covenants with the Landlord:- 
  

	 	5.2.1	To pay throughout the Term by way of further rent within fourteen days of demand a fair and proper proportion (such proportion to be conclusively determined by the Landlord’s
surveyor) of the total sum which the Landlord shall from time to time properly and reasonably pay by way of premium or premiums for keeping the Building insured for the full cost of reinstatement against loss or damage by the Insured Risks
(including architects’ surveyors’ and other professional fees and 

  

 30 

 demolition clearance and similar expenses) together with the whole of the premium payable for the
insurance of loss of rent for three years or such longer period as may be reasonable having regard to the circumstances from time to time and in addition any sum or sums by which the annual premium payable by the Landlord (or its lessees or tenants)
in respect of the Building and/or any Adjoining Property is increased by reason of the user of the Premises or by reason of any default or omission of or on the part of the Tenant or any other occupants for the time being of the Premises such
further sum or sums to be paid to the Landlord without any deduction on demand and to be recoverable by the Landlord as rent in arrear or as a contractual debt 
  

	 	5.2.2	To insure all third party occupiers and property owners liability risks in respect of the Premises or the use thereof capable of being insured by the Tenant and not already covered
by the Landlord’s insurance policy 

  

	 	5.2.3	Not to effect any insurance in duplication of the Landlord’s insurance cover 

  

	 	5.2.4	In the event of payment of any insurance moneys under any policy or policies effected by the Landlord being refused or becoming irrecoverable solely or in part because of or due to
the act or default of the Tenant or any employee servant agent licensee or customer of the Tenant then the Tenant shall forthwith pay to the Landlord (in addition to the Rents and any other moneys due hereunder) the whole or (as the case may
require) a fair proportion of the cost (including professional and other fees and incidental expenses) of repairing rebuilding and reinstating the damage in respect of which the said payment of insurance moneys shall have been refused or become
irrecoverable 

  

 31 

	 	5.2.5	To comply with all requirements and recommendations of the Landlord’s insurers notified to the Tenant in writing 

  

	 	5.2.6	In the event that a claim is made under any insurance policy maintained by the Landlord in respect of the Premises or any part thereof and any payment of such claim is subject to an
excess the Tenant shall pay to the Landlord within fourteen days of written demand an amount equivalent to such excess or a proper proportion in the event that a claim is made in relation to the Premises and other parts of the Building and provided
that if requested by the Tenant the amount of the excess shall have been notified in writing to the Tenant prior to the event giving rise to the insurance claim 

  

	 	5.2.7	To notify the Landlord forthwith of any physical damage to the Premises which may affect the insurance policies effected by the Landlord in respect of the Premises or which may give
rise to claims thereunder 

  

	 	5.2.8	In the event of the Premises or any part thereof being destroyed or damaged by any of the Insured Risks to give notice thereof to the Landlord immediately upon its coming to the
knowledge of the Tenant 

  

	 	5.2.9	If at any time the Tenant shall be entitled to the benefit of any insurance on the Premises forthwith to apply all moneys received by virtue of such insurance in making good the
loss or damage in respect of which the same shall have been received 

  

	 	5.2.10	Not to do or omit anything whereby any policy of insurance on the Building or any Adjoining Property may become void or voidable or whereby the rate of premium thereon may be
increased 

  

 32 

	5.3	Rent suspension 

  

	 	5.3.1	In case the Premises shall at any time be destroyed or so damaged by any one or more of the Insured Risks as to be unfit for occupation or use then and in any such case (unless such
insurance shall have been vitiated or the insurance moneys rendered wholly or partly irrecoverable by the act neglect default or omission of the Tenant or any employee servant agent licensee or customer of the Tenant) the Rents or a fair proportion
thereof according to the nature and extent of the damage sustained (the amount of such proportion to be referred to arbitration in the event of dispute) shall be suspended and cease to be payable until the Premises shall have been reinstated or if
earlier until this Lease is determined 

  

	 	5.3.2	If the Premises shall not be rendered fit for occupation or use within eighteen calendar months after the date of such destruction or damage the Tenant may give written notice to
determine this Lease whereupon this Lease and everything herein contained shall cease and be determined but without prejudice to the existing rights and liabilities of the parties thereunder 

  

	5.4	Termination on destruction 

  
 If through any cause whatsoever the Premises or the Building shall be so destroyed or damaged as to be unfit for occupation or use without substantial
rebuilding the Landlord may in lieu of rebuilding or reinstating elect to treat this Lease as at an end and re-enter upon the Premises on giving to the Tenant not less than one month’s notice in writing Provided that such determination shall be
without prejudice to any existing rights and liabilities of the parties under this Lease 
  

 33 

	6	SERVICE CHARGE 

  

	6.1	For the purposes of this clause: 

  

	 	6.1.1	The expression “the Landlord’s financial year” shall mean the period from the First day of August in each year to the Thirty-first day of July in the next year or
such other annual period as the Landlord may in its reasonable discretion from time to time determine as being that in which the accounts of the Landlord either generally or relating to the Building shall be made up 

  

	 	6.1.2	The expression “the Certificate” shall mean a certificate certifying the amount of the Annual Expenditure signed by the Landlord or its surveyor or managing agent on
behalf of the Landlord annually and as soon after the end of the Landlord’s financial year as may be practicable and shall relate to such year in manner hereinafter mentioned 

  

	6.2	A copy of the Certificate for each such financial year shall be supplied by the Landlord to the Tenant without charge 

  

	6.3	The Certificate shall be accompanied by or include a detailed breakdown of the Landlord’s said expenses and outgoings incurred by the Landlord during the Landlord’s
financial year to which it relates and the Certificate (or a copy thereof duly certified by the person by whom the same is given) shall be conclusive evidence for the purpose hereof of the matters which it purports to certify

  

	6.4	Interim payments shall be made in advance on account of the Service Charge which for the current year shall be at the rate of Forty thousand pounds (£40,000) per annum and for
each subsequent year shall be the estimated expenditure for the year in question being such sum as the Landlord or its surveyor or managing 

  

 34 

 agent shall consider reasonably necessary to provide the Services set out in the Third Schedule and such
interim payments shall be paid by equal quarterly instalments in advance on the usual quarter days the first payment being made on the date hereof in respect of the period from the First day of August one thousand nine hundred and ninety-nine until
the Twenty-third day of June Two thousand 
  

	6.5	As soon as practicable after the signature of the Certificate the Landlord shall furnish to the Tenant an account of the Service Charge payable by the Tenant for the year in
question due credit being given therein for all interim payments made by the Tenant in respect of the said year and upon the furnishing of such account showing such adjustment as may be appropriate there shall be paid by the Tenant to the Landlord
within fourteen days of receipt of the Certificate any balance found payable or there shall be allowed by the Landlord to the Tenant any amount which may have been overpaid by the Tenant by way of interim payment as the case may require

  

	6.6	PROVIDED ALWAYS and notwithstanding anything herein contained (but subject as provided in sub-clauses 6.4 and 6.5 above) it is agreed and declared that in regard to the commencement
of the Term the Service Charge shall be duly apportioned from the date of such commencement and further that the provisions of paragraph 6.5 hereof shall continue to apply notwithstanding the expiration or sooner determination of the Term but only
in respect of the period down to such expiration or sooner determination of the Term 

  

	6.7	If at any time during the Term the total property enjoying or capable of enjoying the benefit of any of the Services be increased or decreased on a permanent basis or the benefit of
any of the Services be extended on a like basis to any adjoining or neighbouring property the percentage referred to in the definition of Service Charge in clause 1.1 shall be varied following such event by agreement between the parties or in
default of agreement within three months of the first proposal for 

  

 35 

 variation made by either party as shall be determined to be a fair and reasonable variation reflecting
the event in question by an independent surveyor (acting as an expert and not as an arbitrator) except that nothing herein contained shall imply an obligation on the part of the Landlord to provide the Services to any adjoining or neighbouring
property 
  

	7	PROVISOS 

  
 Provided always and it is hereby agreed that: 
  

	7.1	Forfeiture 

  
 If at any time during the Term: 
  

	 	7.1.1	The Rents (or any of them or any part of them) shall be in arrear and unpaid for twenty-eight days after becoming payable (whether formally demanded or not) or

  

	 	7.1.2	There shall be any breach non performance or non observance by the Tenant of any of the covenants and conditions contained in this Lease or 

  

	 	7.1.3	There shall occur any of the following events in relation to the Tenant (being a company): 

  

	 	7.1.3.1	That the Tenant (if any) is deemed unable to pay its debts as defined in Section 123 of the Insolvency Act 1986 (“the Act”) or goes into liquidation as defined in Section
247 (2) of the Act or is otherwise wound up (except voluntarily for the purpose of re-construction and/or amalgamation with a solvent concern) or that a provisional liquidator is appointed under Section 135 of the Act 

  

 36 

	 	7.1.3.2	That a petition is presented for an administration order under Part II of the Act 

  

	 	7.1.3.3	That a receiver or manager is appointed whether under Part III of the Act or otherwise 

  

	 	7.1.3.4	That a proposal is made for a voluntary arrangement under Part I of the Act or 

  

	 	7.1.4	There shall occur any of the following events in relation to the Tenant hereunder (being an individual): 

  

	 	7.1.4.1	That a bankruptcy petition is presented to the Court or the circumstances of the Tenant are such that a bankruptcy petition could be presented under Part IX of the Act

  

	 	7.1.4.2	That an application is made for an interim order or a proposal is made for a voluntary arrangement under Part VIII of the Act 

  

	 	7.1.4.3	That the Tenant otherwise compounds with his creditors or 

  
 The Landlord may at any time thereafter (although it may not have taken advantage of some previous default of a like nature and notwithstanding the waiver
of any previous right of re-entry) re-enter the Premises or any part thereof in the name of the whole and thereupon the Term shall absolutely cease and determine but without prejudice to any rights or remedies that may have accrued to the Landlord
against the Tenant or any Surety in respect of any antecedent breach (including the breach in relation to which re-entry is made) of any of the covenants and conditions in this Lease 
  

 37 

	7.2	Interest 

  
 If the Rents or any part thereof or any other moneys hereby made payable shall at any time be in arrear for twenty-eight days after the same shall
respectively be made payable whether the same shall have been formally demanded or not the Tenant shall pay to the Landlord interest on such unpaid rent or moneys from the date on which the same shall have become payable until the date of actual
payment such interest to be calculated at an annual rate of four per cent (4%) above the base lending rate of Barclays Bank Plc (or of such other United Kingdom clearing bank as the Landlord shall require) Provided that should such base rate fail to
exist the annual rate shall be calculated by reference to such other rate of interest as is most closely comparable with the said base rate to be agreed between the parties hereto or in default of agreement to be determined by an independent
chartered accountant acting as an expert and not as an arbitrator and appointed in default of agreement between the parties by the President for the time being of the Cambridgeshire Law Society from time to time and such interest shall be
recoverable by the Landlord in the same way as rent in arrear 
  

	7.3	Non-waiver 

  
 No acceptance of or receipt for rent by the Landlord after knowledge or notice received by the Landlord or its agents of any breach of any of the
Tenant’s covenants hereunder shall be or operate as a waiver wholly or partially of any such breach but any such breach shall for all the purposes of this Lease be a continuing breach of covenant so long as such breach shall be subsisting and
no person taking any estate or interest under the Tenant shall be entitled to set up any such acceptance of or receipt for rent by the Landlord as a defence in any action or proceedings by the Landlord 
  

 38 

	7.4	Exclusion of planning warranty  

  
 Nothing in this Lease contained shall imply or warrant that the Premises may in accordance with all the Planning Acts be used for the purposes herein
authorised or shall release the Tenant from the Tenant’s obligations to obtain any appropriate planning consents or approvals for such use 
  

	7.5	Arbitration 

  
 Where the provisions of this Lease require any dispute or disagreement to be referred to arbitration (save where otherwise specifically provided) the
matter in question shall be referred to the determination of a single arbitrator to be agreed upon by the parties or failing agreement to be nominated by the President for the time being of the Royal Institution of Chartered Surveyors in accordance
with and subject to the provisions of the Arbitration Act 1996 
  

	7.6	Disputes between tenants 

  
 Any dispute arising as between the Tenant and the other tenants or occupiers of the Building or any Adjoining Property belonging to the Landlord as to any
easement quasi-easement right or privilege in favour of or affecting the Premises shall be referred for determination to the Landlord whose decision shall be binding upon all parties to the dispute 
  

	7.7	Non-acquisition of easements 

  
 The Tenant shall not by virtue or in respect of this Lease or any extension or renewal thereof acquire or be deemed to have acquired or be entitled to (by
length of enjoyment prescription or by any other means whatsoever) in respect of the Premises any right of light or air or other easements from or over or affecting any land or hereditaments now or formerly belonging to the Landlord not comprised in
this Lease and the operation of Section 62 of the Law of Property Act 1925 shall be excluded from this Lease and the only rights granted to the Tenant are those expressly set out herein 
  

 39 

	7.8	Compensation 

  
 Upon quitting the Premises the Tenant shall (if and in so far as it is lawful for the parties hereto to make such arrangement) not be entitled to any
compensation whatsoever whether under the provisions of any legislation enacted before or after the date hereof or otherwise 
  

	7.9	Access to Common Parts 

  
 It is hereby agreed and declared that the three rooms comprising part of the Common Parts and shown edged and hatched brown and coloured blue on Plan B
may only be accessed by the Landlord with the prior consent of the Tenant (such consent not to be unreasonably withheld or delayed) except in case of emergency when no consent shall be required to preserve the security of equipment belonging to the
Tenant within such rooms 
  

	7.10	Notices 

  
 The provisions of Section 196 of the Law of Property Act 1925 as amended by the Recorded Delivery Service Act 1962 shall apply to all notices and written
demands served or made hereunder 
  

	8	EXCLUSION OF SECURITY 

  
 Having been authorised so to do by an Order of the Cambridge County Court made on the Twenty First day of June Two thousand under the provisions of
Section 38(4) of the Landlord and Tenant Act 1954 the parties hereto agree that the provisions of Sections 24 to 28 (inclusive) of that Act shall be excluded in relation to the tenancy hereby created 
  

 40 

	9	EXEMPT CHARITY 

  
 The Premises comprised in this Lease are held by or in trust by the Landlord for a charity and the charity is an exempt charity 
  

	10	NO AGREEMENT FOR LEASE 

  
 The parties hereto certify that there is no Agreement for Lease to which this Lease gives effect 
  
 I N  W I T N E S S whereof the parties hereto have executed this instrument as a Deed in
manner hereinafter appearing and it has been delivered by them or on their behalf on the day and year first above written 
  
 THE FIRST SCHEDULE 
  
 PART 1 
  
 Description of Premises 
  
 A L L  T H A T part or parts of the Building comprising part of the Ground Floor and part of the First Floor as the same are shown for identification purposes only edged red on the plans annexed hereto marked Plan A and Plan B and the
appurtenances thereto and each and every part thereof including: 
  

	1	The paint paper and other decorative finishes applied to the interior of any external and load bearing walls of the Building but not any other part of the external and load bearing
walls 

  

	2	The floor finishes so that the lower limit of the Premises shall include such finishes but shall not extend to anything below them 

  

	3	The ceiling finishes so that the upper limit of the Premises shall include such finishes but shall not extend to anything above them 

  

 41 

	4	The entirety of any internal non load bearing wails within the Premises 

  

	5	The inner half severed medially of any internal non load bearing walls dividing the Premises from other parts of the Building 

  

	6	All doors and door frames whether internal or external 

  

	7	All windows and the internal window frames 

  

	8	All additions and improvements to the Premises 

  

	9	All the Landlord’s fixtures and fittings of every kind which shall from time to time be in or upon the Premises whether originally affixed or fastened to or upon the same and

  

	10	Any Conduits that exclusively serve or are intended to exclusively serve the Premises 

  
 BUT EXCLUDING THEREFROM the Retained Parts 
  
 PART 2 
  
 Rights granted to the Tenant 
  

	1	The right for the Tenant and all persons expressly or by implication authorized by the Tenant (in common with the Landlord and others having a like right) to use the Common Parts
for all proper purposes in connection with the use and enjoyment of the Premises 

  

	2	The free passage and running (subject to temporary interruption for repair alterations or replacement) of water soil gas electricity telecommunications and other supplies and
services to and from the Premises in and through the Conduits that now serve the Premises presently laid in on through or under other parts of the Building and any Adjoining Property 

  

 42 

	3	The right of support and protection for the benefit of the Premises as is now enjoyed from all other parts of the Building 

  

	4	The right at any time hereafter at convenient times and upon reasonable notice (except in cases of emergency) to enter upon other parts of the Building and any Adjoining Property of
the Landlord so far as may be necessary to enable the Tenant to carry out its obligations hereunder the Tenant doing as little damage and causing as little inconvenience as possible during the exercise of such rights and making good all damage and
disturbance caused as soon as reasonably practicable 

  

	5	The exclusive right to park not more than twenty-one cars in the car parking area shown edged red on the plan marked Plan C annexed hereto 

  

	6	The right to pass and repass with or without vehicles at all times and for all purposes in connection with the use of the Premises hereby authorised over the roadway shown coloured
brown on the plan marked Plan C annexed hereto 

  
 PART 3 
  
 Rights reserved to the Landlord

  

	1	The right to the full and free and uninterrupted passage and running of water soil gas electricity telecommunications and other services to and from the remainder of the Building
and any Adjoining Property now formerly or hereafter belonging to the Landlord through and along any Conduits in over through or under the Premises which now serve or may hereafter during the Term serve also the remainder of the Building or such
Adjoining Property or any parts thereof 

  

	2	The right to build on or rebuild or alter other parts of the Building and any such Adjoining Property in any manner whatsoever and to let the same for any purpose or otherwise deal
therewith notwithstanding that the supply of light or air to the 

  

 43 

 Premises is in any such case diminished thereby or any other liberty easement right or advantage other
than such as are herein specifically granted belonging to the Tenant is thereby diminished or prejudicially affected Provided that the exercise of such rights shall not render the Premises unsuitable for the Tenant’s business at the Premises

  

	3	The right to maintain in upon through or over the Premises at any time during the Term any Conduits or services for the benefit of other parts of the Building and/or any Adjoining
Property belonging to the Landlord (if any) making good all damage to the Premises as soon as reasonably possible 

  

	4	The right to erect scaffolding for the purpose of repairing or cleaning the Building and/or any Adjoining Property belonging to the Landlord (if any) notwithstanding such
scaffolding may temporarily restrict the access to or enjoyment and use of the Premises 

  

	5	The right at any time during the Term at reasonable times and upon reasonable notice except in cases of emergency to enter (or in cases of emergency to break and enter) the Premises
or any part thereof 

  

	5.1	to inspect the condition and state of repair of the Building and the Premises and to value the same 

  

	5.2	to take schedules or inventories of fixtures and other items to be yielded up on the expiry of the Term and 

  

	5.3	to exercise any of the rights granted to the Landlord elsewhere in this Lease 

  

	6	The right to support and protection of the remainder of the Building and any Adjoining Property from the Premises 

  

 44 

 THE SECOND SCHEDULE 
  
 Yearly Rent 
  

	1.1	The Yearly Rent referred to in Clause 2 hereof in respect of the area shown hatched green on Plan A is TWENTY-FIVE THOUSAND FIVE HUNDRED POUNDS (£25,500) per annum

  

	1.2	The Yearly Rent referred to in Clause 2 hereof is for the remainder of the Premises ONE HUNDRED AND SIXTY-FOUR THOUSAND POUNDS (£164,000) per annum 

 

	2	The Yearly Rent is payable on and from the First day of November One thousand nine hundred and ninety-nine and the first payment in respect of the period to the Twenty-third day of
June Two thousand is due on the date hereof Provided that the Yearly Rent in respect of the area shown hatched green on Plan A is payable on and from the First day of April Two thousand 

  
 THE THIRD SCHEDULE 
  
 The Services 
  

	1	Maintaining repairing and where appropriate washing down painting and decorating (to such standard as may be necessary to maintain a good standard of repair and appearance) and when
necessary (but only within the ambit of repair) altering renewing rebuilding and reinstating the Retained Parts 

  

	2	Carpeting furnishing and equipping the Retained Parts as the Landlord may determine (acting reasonably) including but not limited to the provision in the entrance halls of a
reception desk 

  

	3	Inspecting servicing maintaining repairing amending insuring (save in so far as insured under other provisions of this Lease) and when necessary (acting (reasonably) overhauling and
replacing all apparatus plant machinery and 

  

 45 

 equipment within the Retained Parts from time to time including (without prejudice to the generality of
the foregoing) lifts lift shafts stand-by generators and boilers hot and cold water systems and items relating to mechanical ventilation heating cooling closed circuit television and telecommunications 
  

	4	Maintaining repairing cleansing emptying draining amending and renewing all Common Conduits 

  

	5	Maintaining and renewing any fire alarms and ancillary apparatus fire prevention and fire fighting equipment and other apparatus in the Retained Parts 

  

	6	Providing maintaining cleaning repairing operating inspecting servicing overhauling and renewing and replacing (where necessary) all security and emergency systems for the Building

  

	7	Cleaning treating polishing heating cooling and lighting the Retained Parts to such standard as the Landlord may from time to time consider adequate (acting reasonably)

  

	8	Providing and maintaining (at the Landlord’s absolute discretion) any plants shrubs trees or garden or grassed area in the Retained Parts and keeping the same planted and free
from weeds and the grass cut 

  

	9	Providing maintaining and renewing name boards and signs in the main entrance halls lift lobby areas and any other parts of the Building and all directional signs and fire
regulation notices and any flags flag poles and television and radio aerials 

  

	10	Supplying providing purchasing hiring maintaining renewing replacing repairing servicing overhauling and keeping in good and serviceable order and condition all appurtenances
fixtures fittings bins receptacles tools appliances materials equipment and other things which the Landlord may reasonably deem desirable or necessary for the maintenance appearance upkeep or cleanliness of the Building or any part of it

  

 46 

	11	Cleaning as frequently as the Landlord shall in its absolute discretion consider adequate the exterior and interior of all windows and window frames in the Retained Parts and the
exterior only of all windows and window frames in the remainder of the Building 

  

	12	Providing lighting (if reasonably necessary) to the exterior of the Building 

  

	13	Collecting and disposing of refuse from the Retained Parts 

  

	14	Any other services relating to the Building or any part of it provided by the Landlord (acting reasonably) from time to time during the Term for the overall benefit of the tenants
of the Building 

  
 THE FOURTH SCHEDULE

  
 The Costs 
  

	1	The reasonable and proper fees and disbursements (and any VAT payable thereon of): 

  

	1.1	Any surveyor accountant or other individual firm or company employed or retained by the Landlord for (or in connection with) such surveying or accounting functions or the management
of the Building 

  

	1.2	The managing agents of the Building whether or not the surveyor for (or in connection with) 

  

	 	1.2.1	the management of the Building 

  

 47 

	 	1.2.2	the collection of the rents and all other sums due to the Landlord from the tenants of the Building save for the pursuance of tenants for arrears of rent and other monies due to the
Landlord 

  

	 	1.2.3	the performance of the Services and any other duties in or about the Building or any part of it relating to (without prejudice to the generality of the foregoing) the general
management administration security maintenance protection cleanliness of the Building 

  

	1.3	Any other individual firm or company employed or retained by the Landlord to perform (or in connection with) any of the Services or any of the functions or duties referred to in
this paragraph 

  

	2	The reasonable and proper fees of the Landlord or a group company for any of the Services or the other functions and duties referred to in paragraph 1.1 above that shall be
undertaken by the Landlord or a group company and not by a third party 

  

	3	The cost of employing (whether by the Landlord a group company the managing agents or any other individual firm or company) such staff as the Landlord may in its reasonable
discretion deem necessary for the performance of the Services and the other functions and duties referred to in paragraph 1.1 above and all other incidental expenditure in relation to such employment including but without prejudice to the generality
of the foregoing: 

  

	3.1	insurance pension and welfare contributions 

  

	3.2	transport facilities and benefits in kind 

  

	3.3	the provision of uniforms and working clothing and 

  

 48 

	3.4	the provision of vehicles tools appliances cleaning and other materials fixtures fittings and other equipment for the proper performance of their duties and a store for housing the
same 

  

	4	All existing and future rates water rates charges duties assessments impositions and other outgoings payable by the Landlord in respect of the Building or any part of it (excluding
the Premises and any other part of the Building that is let or intended for letting) 

  

	5	The cost of the supply of electricity gas oil or other fuel for the provision of the Services and for all purposes in connection with the Retained Parts 

  

	6	The amount which the Landlord shall be called upon to pay as a contribution towards the expense of repairing maintaining resurfacing and cleansing any ways roads pavements or
structures pipes party fences walls or anything which may belong to or be used for the Building or any part of it exclusively or in common with other premises near or adjoining the Building 

  

	7	The costs charges and expenses of preparing and supplying to the tenants copies of any Regulations made by the Landlord relating to the Building or the use of it

  

	8	The cost of taking all steps deemed desirable or expedient by the Landlord for complying with making representations against or otherwise contesting the incidence of the provisions
of any regulation byelaw notice legislation order or statutory requirements concerning town planning public health highways streets drainage or other matters relating or alleged to relate to the Building or any part of it for which any tenant is not
directly liable 

  

 49 

	9	The cost to the Landlord of abating a nuisance in respect of the Building or any part of it in so far as the same is not the liability of any individual tenant

  

			
	 THE COMMON SEAL of THE
	  	)
	 CHANCELLOR MASTERS AND
	  	)
	 SCHOLARS OF THE
	  	)
	 UNIVERSITY OF CAMBRIDGE
	  	)
	 was affixed in the presence of:-
	  	)

  

	
	 /s/ D. Clsor

	 Administrative Officer

	
	 /s/ R. Allen

	 Assistant Treasurer

  

 50

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}]]