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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any Tax Year all or any portion of which falls within the Term, then out of any balance remaining thereof after deducting Landlord’s expenses in obtaining such refund, Landlord shall, provided there does not then exist an Event of Default, credit an amount equal to such refund or reimbursement or sum in lieu thereof (exclusive of any interest, and apportioned if such refund is for a Tax Year a portion of which falls outside the Term,) multiplied by Tenant’s Proportionate Share against the monthly installments of Escalation Charges next due under this Lease (or refund such amount to Tenant if the Term has ended and Tenant has no further obligations to Landlord); provided, that in no event shall Tenant be entitled to a credit in excess of the payments made by Tenant on account of Taxes for such Tax Year pursuant to paragraph (b) of Section 8.1. ARTICLE OPERATING EXPENSES

Definitions. “Operating Year” shall mean each calendar year all or any part of which falls within the Term,
and “Operating Expenses” shall mean the aggregate costs and expenses incurred by Landlord with respect to the operation,
administration, cleaning, insuring, repair, maintenance and management of the Property, including, without limitation, the costs and
expenses set forth in Exhibit E attached hereto; provided that if during any portion of the Operating Year for which Operating
Expenses are being computed, less than all of the Building was occupied by tenants or Landlord was not supplying all tenants with the
services being supplied under this Lease, actual Operating Expenses incurred shall be extrapolated reasonably by Landlord on an item
by item basis to the estimated Operating Expenses that would have been incurred if the Building were fully occupied for such Operating
Year and such services were being supplied to all tenants, and such extrapolated amount shall, for the purposes hereof, be deemed to
be the Operating Expenses for such Operating Year. In addition to the foregoing, and notwithstanding anything to the contrary contained
in this Lease, Landlord reserves the right to allocate costs for services provided to some, but not all, tenants in the Building among
those tenants utilizing such service on such basis as Landlord may reasonably determine from time to time.

Tenant’s Payment of Operating Expenses.

For each Operating Year during the Term, Tenant shall pay to Landlord, Tenant’s Proportionate Share of Operating Expenses, such
amount to be apportioned for any portion of an Operating Year in which the Commencement Date falls or the Term of this Lease ends.

Estimated payments by Tenant on account of Operating Expenses shall be made on the first day of each and every calendar month during
the Term of this Lease, in the fashion herein provided for the payment of Basic Rent. The monthly amount so to be paid to Landlord shall
be sufficient to provide Landlord by the end of each Operating Year a sum equal to Tenant’s required payment, as reasonably estimated
by Landlord from time to time during each Operating Year, on account of Operating Expenses for such Operating Year. After the end of
each Operating Year, Landlord shall submit to Tenant a reasonably detailed accounting of Operating Expenses for such Operating Year,
and Landlord shall certify to the accuracy thereof. If estimated payments theretofore made for such Operating Year by Tenant exceed Tenant’s
required payment on account thereof for such Operating Year according to such statement, Landlord shall credit the amount of overpayment
against subsequent obligations of Tenant with respect to Operating Expenses (or promptly refund such overpayment if the Term of this
Lease has ended and Tenant has no further obligation to Landlord); but if the required payments on account thereof for such Operating
Year are greater than the estimated payments (if any) theretofore made on account thereof for such Operating Year, Tenant shall make
payment to Landlord within thirty (30) days after being so advised by Landlord, and the obligation to make such payment for any period
within the Term shall survive expiration of the Term.

Any such accounting by Landlord shall be binding and conclusive upon Tenant unless within sixty (60) days after the giving by Landlord
of such accounting Tenant shall notify Landlord that Tenant disputes the correctness of such accounting, specifying the particular respects
in which the accounting is claimed to be incorrect. If Tenant timely sends a notice to Landlord disputing the accounting received from
Landlord, Tenant may, at Tenant’s sole cost and expense, undertake an audit of such of Landlord’s books as are directly relevant
to the Operating Expense accounting for the Operating Year in question, provided and on condition that (i) there is then no uncured Event
of Default under this Lease, (ii) Tenant has made all payments of Escalation Charges billed or invoiced by Landlord as of the date of
the audit, (iii) the audit is performed only by Tenant’s employees, internal accounting department or an independent certified
public accounting firm reasonably approved by Landlord and whose fee or other compensation is fixed by contract and is in no manner computed
or determined based upon the results of the audit, (iv) both Tenant and its examiners execute and deliver to Landlord a confidentiality
agreement in form and substance reasonably acceptable to Landlord whereby such parties expressly agree to maintain the results of such
audit in strict confidence, and (v) such audit is commenced and completed and the results thereof delivered to Landlord within sixty
(60) days following the date Landlord makes its books available to Tenant. If Tenant fails to timely deliver a dispute notice to Landlord,
or fails to complete its audit and deliver the results thereof to Landlord within the applicable sixty (60) day period, then, in either
of such events, Landlord’s accounting shall be binding and conclusive upon Tenant for all purposes of this Lease. If it is finally
determined or mutually agreed that Landlord has overstated Tenant’s share of excess Operating Expenses, Landlord shall credit the
amount of such overstatement against the monthly installments of Escalation Charges next due under this Lease (or refund such amount
to Tenant if the Term has ended and Tenant has no further obligations to Landlord under this Lease). If the audit demonstrates that Landlord
has not overstated Escalation Charges, then Landlord may invoice Tenant for any amount by which Tenant’s Escalation Charges under
this Section 9.2 was understated, which invoice shall be payable by Tenant within thirty (30) days after receipt.

ARTICLE

INDEMNITY
AND PUBLIC LIABILITY INSURANCE

Tenant’s Indemnity. Except to the extent arising from the gross negligence or willful misconduct of Landlord or its
agents or employees, Tenant shall defend with counsel first approved by Landlord, save harmless, and indemnify Landlord and Landlord’s
managing agent, beneficiaries, partners, members, shareholders, subsidiaries, officers, directors, agents, trustees and employees (“Landlord
Parties”) from and against all claims, losses, cost, damages, any liability or expense of whatever nature arising from injury,
loss, accident or damage to any person or property, arising from or claimed to have arisen (a) from any accident, injury or damage whatsoever
to any person, or to the property of any person, occurring in or about the Premises; (b) from the omission, fault, willful act, negligence
or other misconduct of Tenant or Tenant’s agents, employees, contractors, licensees or invitees, (c) in connection with Tenant’s
use of the Premises or any business conducted therein or any work done or condition created in the Premises by Tenant, its agent, employees
or contractors, or anyone claiming by, through or under Tenant, or (d) the failure of Tenant to perform and discharge its covenants and
obligations under this Lease and, in any case, occurring after the Commencement Date (or such earlier date as of which Tenant takes possession
of the Premises) until the expiration of the Term of this Lease and thereafter so long as Tenant is in occupancy of any part of the Premises.
This indemnity and hold harmless agreement shall include indemnity against all losses, costs, damages, expenses and liabilities incurred
in or in connection with any such claim or any proceeding brought thereon, and the defense thereof, including, without limitation, reasonable
attorneys’ fees and costs at both the trial and appellate levels. The provisions of this Section 10.1 shall survive the
expiration or earlier termination of this Lease.