SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1
Document Type: EX-10.5
Date Filed: 2026-02-12
Accession Number: 0001493152-26-006407
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226006407/ex10-5.htm

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11.2(c) to terminate this Lease and Tenant fails to deliver a termination notice to Landlord within the thirty (30) day period set forth herein, Tenant will be deemed to have waived Tenant’s rights under this Section 11.2(c) to terminate the Lease on account of such Casualty. The provisions of this Section are in lieu of any statutory termination provisions allowable in the event of a Casualty. If this Lease is terminated under any of the provisions of this Article XI as a result of a Casualty, Landlord shall be entitled to retain for its benefit the proceeds of insurance maintained by Tenant on the Improvements. This Section 11.2 shall be deemed an express agreement governing any damage or destruction of the Premises by fire or other casualty, and any law providing for a contingency in the absence of an express agreement, now or hereafter in force, shall have no application.

Abatement of Rent. If the Premises is damaged by a Casualty, Basic Rent and Escalation Charges payable by Tenant shall abate
proportionately for the period from the date of such fire or other casualty until the earlier of (a) the date that Landlord substantially
completes Landlord’s Restoration Work (provided that if Landlord would have completed Landlord’s Restoration Work at an earlier
date but for Tenant having failed to cooperate with Landlord in effecting such Work or collecting insurance proceeds, then the Premises
shall be deemed to have been repaired and restored on such earlier date and the abatement shall cease), or (b) the date Tenant or other
occupant reoccupies any portion of the Premises (in which case the Basic Rent and Escalation Charges allocable to such reoccupied portion
shall be payable by Tenant from the date of such occupancy). Notwithstanding any provision contained in this Lease to the contrary, (i)
there shall be no abatement with respect to any portion of the Premises which has not been rendered untenantable by reason of fire or
other casualty and which is accessible, whether or not other portions of the Premises are untenantable, and (ii) any abatement of Basic
Rent or Escalation Charges applicable to any portion of the Premises which was rendered untenantable by reason of a casualty shall cease
on the earliest of the dates referred to in clauses (a) or (b) of the preceding sentence provided such portion is accessible, whether
or not other portions of the Premises remain untenantable. Landlord’s determination of the date Landlord’s Restoration Work
to the Premises shall have been substantially completed shall be controlling unless Tenant disputes same by notice to Landlord given
within ten (10) days after such determination by Landlord, and pending resolution of such dispute, Tenant shall pay Basic Rent and Escalation
Charges in accordance with Landlord’s determination. Notwithstanding the foregoing, if by reason of any act or omission by Tenant,
any subtenant or any of their respective partners, directors, officers, servants, employees, agents or contractors, Landlord, any Mortgagee
shall be unable to collect all of the insurance proceeds (including, without limitation, rent insurance proceeds) applicable to the casualty,
then, without prejudice to any other remedies which may be available against Tenant, there shall be no abatement of Basic Rent or of
Escalation Charges.

Eminent Domain

If the Premises shall be affected by any exercise of the power of eminent domain, Basic Rent and Escalation Charges payable by Tenant
shall be justly and equitably abated and reduced according to the nature and extent of the loss of use thereof suffered by Tenant. In
no event shall Landlord have any liability for damages to Tenant for inconvenience, annoyance or interruption of business arising from
such exercise of the power of eminent domain.

If any part of the Building is taken by any exercise of the right of eminent domain, then Landlord shall have the right to terminate
this Lease (even if Landlord’s entire interest in the Premises may have been divested) by giving notice of Landlord’s election
so to do within ninety (90) days after the occurrence of the effective date of such taking, whereupon this Lease shall terminate thirty
(30) days after the date of such notice with the same force and effect as if such date were the date originally established for the expiration
of the Term of this Lease.

If this Lease shall not be terminated pursuant to Section 11.4(b), Landlord shall thereafter use due diligence to restore the
Premises (excluding any Alterations made by Tenant pursuant to Section 5.2) to proper condition for Tenant’s use and occupation,
provided that Landlord’s obligation shall be limited to the amount of compensation recoverable by Landlord from the taking authority.
If, for any reason, such restoration shall not be substantially completed within six (6) months after the expiration of the ninety (90)
day period referred to in Section 11.4(b) (which six month period may be extended for such periods of time as Landlord is prevented
from proceeding with or completing such restoration for any cause beyond Landlord’s reasonable control, but in no event for more
than an additional three (3) months), Tenant shall have the right to terminate this Lease by giving notice to Landlord thereof within
thirty (30) days after the expiration of such period (as so extended). Upon the giving of such notice, this Lease shall cease and come
to an end thirty (30) days after the giving of such notice, without further liability or obligation on the part of either party unless,
within such thirty (30) day period, Landlord substantially completes such restoration. Such right of termination shall be Tenant’s
sole and exclusive remedy at law or in equity for Landlord’s failure so to complete such restoration.

Landlord shall have and hereby reserves and excepts, and Tenant hereby grants and assigns to Landlord, all rights to recover for damages
to the Property and the leasehold interest hereby created, and to compensation accrued or hereafter to accrue by reason of such taking,
and by way of confirming the foregoing, Tenant hereby grants and assigns, and covenants with Landlord to grant and assign to Landlord,
all rights to such damages or compensation, and covenants to deliver such further assignments and assurances thereof as Landlord may
from time to time request, and Tenant hereby irrevocably appoints Landlord its attorney in fact to execute and deliver in Tenant’s
name all such assignments and assurances. Nothing contained herein shall be construed to prevent Tenant from prosecuting in any condemnation
proceedings a claim for the value of any of Tenant’s Removable Property installed in the Premises by Tenant at Tenant’s expense
and for relocation expenses, provided that such action shall not affect the amount of compensation otherwise recoverable by Landlord
from the taking authority.

ARTICLE

HOLDING
OVER; SURRENDER

Holding Over. If Tenant or anyone claiming by, through or under Tenant shall remain in possession of all or any part of the
Premises (which shall include a failure by Tenant to remove any Tenant’s Removable Property or Alterations which Landlord notified
Tenant were to be removed at the expiration or earlier termination of the Term) after the expiration or earlier termination of the Term
of this Lease, such holding over shall be treated as a daily tenancy at sufferance at a Basic Rent equal to the greater of (i) the fair
market rental rate for the Premises based upon the most recent comparable transactions in the Building for comparable space on the same
floor or above, and (ii) two hundred percent (200%) of the Basic Rent in effect for the last rental period of the Term plus Escalation
Charges and other Additional Rent herein provided (prorated on a daily basis). In addition to any other liabilities to Landlord accruing
therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs and damages, direct and/or indirect,
sustained by reason of any such holding over, including, without limitation, claims made by and loss of any succeeding tenant arising
out of such failure to timely surrender possession in the condition required under this Lease. In all other respects, such holding over
shall be on the terms and conditions set forth in this Lease as far as applicable (and excluding any extension, expansion or rights of
first offer of tenant) in the Lease. Nothing contained in this Article 12 shall be construed as a consent by Landlord to any holding
over by Tenant, and Landlord shall have the right to immediately terminate such holding over pursuant to applicable Law. The provisions
of this Article 12 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein
or at law.

Surrender of Premises.