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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beyond the requirements of Applicable Laws. Tenant shall, at Tenant’s sole cost and expense, provide odor eliminators and other devices (such as filters, air cleaners, scrubbers and whatever other equipment may in Landlord’s judgment be necessary or appropriate from time to time) to completely remove, eliminate and abate any odors, fumes or other substances in Tenant’s exhaust stream that, in Landlord’s judgment, emanate from Tenant’s Premises. Any work Tenant performs under this Section shall constitute Alterations. Tenant’s responsibility to remove, eliminate and abate odors, fumes and exhaust shall continue throughout the Term. Landlord’s approval of Tenant’s Work or any future Alterations shall not preclude Landlord from requiring additional measures to eliminate odors, fumes and other adverse impacts of Tenant’s exhaust stream (as Landlord may designate in Landlord’s discretion). Tenant shall install additional equipment as Landlord reasonably requires from time to time under the preceding sentence. Such installations shall constitute Alterations.

If Tenant fails to install satisfactory odor control equipment within ten (10) Business Days after Landlord’s demand made at any
time (provided that such ten (10) Business Day period may be extended for such reasonable period of time required to effect such installation
provided that Tenant shall commence such work within such ten (10) Business Day and diligently and continuously prosecute such work until
completion), then Landlord may, without limiting Landlord’s other rights and remedies, require Tenant to cease and suspend any
operations in the Premises that, in Landlord’s determination, cause odors, fumes or exhaust. For example, if Landlord determines
that Tenant’s production of a certain type of product causes odors, fumes or exhaust, and Tenant does not install satisfactory
odor control equipment within ten (10) Business Days after Landlord’s request (as such period may be extended as aforesaid, then
Landlord may require Tenant to stop producing such type of product in the Premises unless and until Tenant has installed odor control
equipment satisfactory to Landlord.

ARTICLE

ASSIGNMENT
AND SUBLETTING

Prohibition.

Tenant covenants and agrees that neither this Lease nor the term and estate hereby granted, nor any interest herein or therein, will
be assigned, mortgaged, pledged, encumbered or otherwise transferred, whether voluntarily, involuntarily, by operation of law or otherwise,
and that neither the Premises nor any part thereof will be encumbered in any manner by reason of any act or omission on the part of Tenant,
or used or occupied or permitted to be used or occupied, by anyone other than Tenant, or for any use or purpose other than a Permitted
Use, or be sublet (which term, without limitation, shall include granting of concessions, licenses and the like) in whole or in part,
or be offered or advertised for assignment or subletting by Tenant or any person acting on behalf of Tenant, without, in each case, the
prior written consent of Landlord (all of the foregoing are hereinafter sometimes referred to collectively as “Transfers”
and any person to whom any Transfer is made or sought to be made is hereinafter sometimes referred to as a “Transferee”).
Landlord’s consent shall be granted or withheld as provided below. Without limiting the foregoing, any agreement pursuant to which:
(x) Tenant is relieved from the obligation to pay, or a third party agrees to pay on Tenant’s behalf, all or any portion of the
Basic Rent or Additional Rent under this Lease; and/or (y) a third party undertakes or is granted by or on behalf of Tenant the right
to assign or attempt to assign this Lease or sublet or attempt to sublet all or any portion of the Premises, shall for all purposes hereof
be deemed to be a Transfer of this Lease and subject to the provisions of this Article 6. A Transfer under this Article 6 shall
also include a sale or other transfer (by one or more transfers) of any of the following: the voting stock, partnership interests, membership
or other equity interests in Tenant (or any other mechanism such as the issuance of additional stock or the creation of additional partnership
or membership interests) which results in a change of control of Tenant or a sale or other transfer (in one or more transfers) of fifty
percent (50%) or more of the assets of Tenant, as if such transfer were an assignment of this Lease. Notwithstanding the foregoing, if
equity interests in Tenant at any time are or become traded on a national securities exchange (as defined in the Securities Exchange
Act of 1934), the transfer of equity interests in Tenant on a national securities exchange shall not be deemed an assignment within the
meaning of this Article; provided, however, that if Tenant is a corporation the outstanding stock of which is listed on a national securities
exchange, then any private purchase or buyout of stock shall be deemed a Transfer under this Article 6.

Notwithstanding the foregoing, Section 6.4 and Section 6.5 shall not apply to transactions with any entity which controls
or is controlled by Tenant or is under common control with Tenant; provided and only on condition that in any such event:

the successor to Tenant has a net worth, computed in accordance with generally accepted accounting principles consistently applied, at
least equal to the greater of (1) the Tangible Net Worth of Tenant immediately prior to such merger, consolidation or transfer, or (2)
the Tangible Net Worth of Tenant herein named on the date of this Lease,

proof satisfactory to Landlord of the Tangible Net Worth of both the transferee and Tenant shall have been delivered to Landlord at least
ten (10) days prior to the effective date of any such transaction,

(iii)
the transfer is for a valid business purpose of Tenant and is not a subterfuge for the provisions of this Article 6, and

the transferee agrees directly with Landlord, by written instrument in form satisfactory to Landlord in its reasonable discretion, to
be bound by all the obligations of Tenant hereunder, including, without limitation, the covenant against further assignment and subletting.

Landlord’s Consent.

If Tenant desires Landlord’s consent to any Transfer, Tenant shall notify Landlord in writing, which notice (the “Transfer
Notice”) shall include (i) the proposed effective date of the Transfer, which shall not be less than thirty (30) days nor more
than one hundred eighty (180) days after the date of delivery of the Transfer Notice, (ii) a description of the portion of the Premises
to be transferred, (iii) all of the terms of the proposed Transfer and the consideration therefor, including the name and address of
the proposed Transferee, and an executed copy of all documentation effectuating the proposed Transfer, including all operative documents
to evidence such Transfer and all agreements incidental or related to such Transfer, (iv) current financial statements of the proposed
Transferee certified by an officer, partner or owner thereof, business credit and personal references and history of the proposed Transferee
and any other information required by Landlord which will enable Landlord to determine the financial responsibility, character, and reputation
of the proposed Transferee, nature of such Transferee’s business and proposed use of the Premises.

In the event Landlord does not exercise its options pursuant to Section 6.5 below to recapture the Premises or terminate this
Lease in whole or in part, Landlord’s consent to a proposed Transfer shall not be unreasonably withheld, conditioned or delayed,
provided and upon condition that:

There shall not be an Event of Default that remains uncured;

In Landlord’s reasonable judgment the proposed Transferee is engaged in a business which is in keeping with the then standards
of the Building and Property and the proposed use is limited to the Permitted Use;

(iii)
The proposed Transferee is a reputable entity and has sufficient financial worth and stability in light of the responsibilities to be
undertaken, based on evidence provided by Tenant (and others) to Landlord, as determined by Landlord in its reasonable discretion;

Neither (A) the proposed Transferee nor (B) any person or entity which, directly or indirectly, controls, is controlled by, or is under
common control with, the proposed Transferee, is then an occupant of any part of the Property;

The proposed Transferee is not a person or entity with whom Landlord is then, or during the preceding nine (9) months has been,
actively negotiating to lease space at the Property;

The proposed Transfer shall be in form reasonably satisfactory to Landlord and shall comply with the applicable provisions of this Article

(vii)
Tenant shall not have advertised or publicized in any way the availability of the Premises at rental rate less than the base rent and
additional rent at which Landlord is then offering to lease other space located in the Building without prior notice to and approval
by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed;

(viii)
With respect to a proposed sublease, the proposed sublease involves, in Landlord’s reasonable judgment, a portion of the Premises
which is independently leasable space;

The holder of any Superior Mortgage and/or Superior Lease, as applicable, consents to such Transfer; and