Item 1.01 Entry into a Material Definitive Agreement.
On May 12, 2022, aTyr Pharma, Inc. (the "Company"), as lessee, entered into a
Lease (the "Lease") with San Diego Creekside, LLC ("Landlord"), as lessor,
pursuant to which the Company agreed to lease from Landlord approximately 23,696
rentable square feet (subject to increase pursuant to the terms of the Lease) of
office and laboratory space within a building located at 10240 Sorrento Valley
Road, San Diego, California 92121 (the "Premises").
The term of the Lease (the "Lease Term") will commence upon the earlier of April
1, 2023 or the completion of certain leasehold improvements to the Premises, but
not sooner than March 1, 2023 (the "Lease Commencement Date") and continue for
124 months from the Lease Commencement Date. The Company also has one option to
extend the Lease Term for five years. Base rent during such extension period
would be at the fair market rent for the Premises. Under the terms of the Lease,
the base rent during the first 12 months of the Lease Term will be $5.75 per
square foot of rentable area per month, subject to certain upward adjustments of
approximately 3.0% annually. In addition to the base rent, the Company is
responsible for certain costs and charges, including, among other things, the
Company's proportional share of certain building and project operating and tax
expenses, and separately metered utilities and janitorial costs associated with
the Premises. The Company is entitled to an allowance of $5,450,080.00 for
tenant improvements, including an option to utilize an additional allowance of
up to $592,400.00, which, if used by the Company, would be repaid by the Company
as additional monthly base rent, amortized at eight percent (8.0%) per annum
during the Lease Term. The Company will provide a $732,680.00 security deposit
in the form of a letter of credit.
The foregoing description of the material terms of the Lease does not purport to
be complete and is qualified in its entirety by reference to the complete text
of the Lease, which is filed as Exhibit 10.1 and is incorporated herein by
reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Lease, dated May 12, 2022, by and between the Registrant and San Diego
Creekside, LLC
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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