Between : 

SpaceHub

Of 

20c Balliniska Road, 

Springtown Industrial Estate, 

Derry

1. DEFINITIONS

1) The expressions “The Landlord” and “The Tenant” shall wherever the context so admits include

the person or persons for the time being deriving title under the Landlord and the Tenant respectively.

2) Where the Tenant or the Guarantor (if any) are two or more individuals they shall include the plural number and obligations expressed or implied to be made by or with any of them shall be deemed to be made by or with such individuals jointly and severally.

3) In any covenant or proviso, the expression “The Demised Premises” includes (inter alia) where the context so admits all additions improvements fixtures fittings electrical installations lifts boilers plant machinery roofs gutters walls fences drains stairs passage access ways service areas and fire escape.

4) The expression “The Landlord’s Surveyor” shall mean any person appointed by or acting for the Landlord including an employee of the Landlord to perform the functions of a Surveyor for any purpose of this Lease.

5) Reference to any right exercisable by the Landlord or any consent required from the Landlord shall where the context so admits include the exercise of such right or the grant of such consent by any Superior Landlord and all persons authorised by the Landlord or any Superior Landlord.

6) The expression “decorate” means to paint or repaper where necessary and to restore paint and make good all woodwork and brickwork on the premises.

7) The expression “interest” shall mean interest at the rate of Two Per Centum per annum above the Bank of England Base Rate for the time being.

8) Any reference to a Statute shall include any statutory modifications or re-enactment of such Statute and any regulations or orders made thereunder.

2. DEMISE AND PREMISES

In consideration of the rent hereinafter reserved and the covenants on the Tenant’s part hereinafter contained the Landlord demises to the Tenant the premises hereto more particularly set forth in the First Schedule and coloured red on the plan attached hereto (hereinafter called “the demised premises”) together with the rights described in the Sixth Schedule hereto.

3. TERM

To hold said premises unto the Tenant for the term set forth in the Second Schedule hereto.

4. RENT

The rent shall be paid in accordance with the terms set forth in the Third Schedule            

5. TENANT’S COVENANTS

The Tenant hereby covenants with the Landlord: –

RENT

1. a) To pay the rent and any increased rent as mentioned above and to pay interest on any rent which shall remain unpaid within twenty-eight days of the same becoming due.

1. b) To pay all fees reasonably and properly incurred by the Landlord in collecting arrears of rent.

OUTGOINGS

To indemnify the Landlord against all existing and future taxes and outgoings payable in respect of the demised premises.

ELECTRICITY ETC

To pay all charges for electricity gas telephone water and other services supplied separately to or consumed in the demised premises for the purpose of lighting heating and serving the same and charged against the Tenant and to observe all regulations and requirement of the appropriate authorities and to keep the Landlord indemnified accordingly. Electricity costs will be served by the landlord for payment.

INSURANCE

1. a) To repay to the Landlord the proportionate sum which the Landlord shall from time to time pay for keeping the demised premises insured in the full reinstatement value thereof and two years loss of rent and Architects Surveyors and other professional fees against loss or damage by fire and such other risks or fees as the Landlord consider necessary.

1. b) Not to do or omit anything whereby any policy of insurance on the demised premises may become void or voidable.

1. c) If the Tenant shall make default in reimbursement to the Landlord of any insurance premium to pay to the Landlord if so required interest thereon from the date upon which the expenditure is incurred until the default is made good at two per centum per annum above the Bank of England base rate for the time being.

1. d) All monies payable by the Tenant under this clause shall be a charge on the demised premises and recoverable as for rent in arrears.

WASTE AND ALTERATIONS

1. a) Not to commit or permit any waste and not to make nor permit to be made any additions or alterations to the demised premises PROVIDED

THAT consent shall be necessary for

(1) Internal non-structural alterations or additions or

(2) The installation or removal of internal demountable partitioning and the Tenant shall if so required by the Landlord at the expiration or sooner determination of the term reinstate the demised premises to their former state and condition in the event of any alterations as aforesaid being carried out.

1. b) Not at any time to make any alterations or addition to the electrical installation in the demised premises save in accordance with plans and specifications first approved in writing by the Landlord and in accordance with the standards terms and conditions prescribed from time to time by the institution of Electrical Engineers and of the regulations prescribed by the appropriate Electricity Supply Authority.

REPAIRS

a)To repair and during the said term to keep the interior of the demised premises in good condition

1. b) NO HOLES SHALL BE DRILLED THROUGH THE CONTAINER WALLS, FLOOR, CEILING APPROPIATE MAGNETIC ATTAHMENTS SHALL ONLY BE PERMITTED. DAMAGE TO THE CONTAINER WILL BE RECOVERED FROM THE TENANT IF REPAIR IS NECESSARY

1. c) Upon any determination of the said term to yield up to the Landlord the demised premises with the fixtures and additions thereto (other than such trade and other tenant’s fixtures as shall belong to the Tenant) in such repair and condition as aforesaid.

1. d) Service Charge – to pay to the Landlord a proportion of the annual cost of servicing the Building Fire Alarm.

SECURITY AND FIRE ALARMS

a). To permit the duly authorised employees and agents of the Landlord to enter the premises upon reasonable notice during the opening hours for the Purpose of servicing and maintaining fire alarm systems in the building (provided that the landlord shall cause as little disturbance as is reasonably

practicable and shall make good any damage to the premises or to any furniture fittings stock or equipment in the premises caused by such entry).

1. b) To permit the duly authorised employees and agents of the Landlord to have such access to the premises as may be required in the event of an alarm call.

1. c) The tenant shall ensure that all doors gates etc are locked particularly the gate at the entrance to the site

1. d) At all times to conduct or cause to be conducted the use of the premises and the retained parts in an orderly manner and to the reasonable satisfaction of the Police Service for Northern Ireland the Fire Authority for Northern Ireland and all other public or local authorities.

1. e) To maintain in relation to the premises and the retained parts such standards of vigilance and take all reasonable precautions as may from time to time be necessary or recommended by the Landlord or the Police Service for Northern Ireland or the Northern Ireland Office (or any public department or agency which may in future discharge their functions) for the protection and security of the premises and the retained parts against damage by fire or malicious damage or vandalism and to comply with all reasonable requests directions prohibitions or requirements made by the Landlord or such other body in respect of the premises and the retained parts for the protection and security of the premises and the retained parts.

USE

a).Not to do or permit to be done on the demised premises anything which may be a nuisance or cause damage annoyance to the Landlord or its Tenants or any neighbouring owner or occupier.

1. b) Not to use or permit to be used the demised premises or any part thereof for any noxious noisy or offensive trade or business nor for any illegal or immoral act or purpose nor as a club betting office amusement arcade or leisure centre nor keep or permit to be kept any animals or birds on the demised premises and not to use the demised premises other than for the purpose set forth in the Fourth Schedule hereto.

1. c) Not to use or permit to be used on the demised premises any machine (other than normal domestic office or shop machines) without the written consent of the Landlord.

1. d) Not to overload or permit to be overloaded the floors or ceilings of the demised premises.

External signage must be approved by the landlord

 ASSIGNMENTS UNDERLETTINGS ETC

a).Not to mortgage or charge the whole or any part of the demised premises.

1. b) Not to assign part only of the demised premises without the prior consent of the Landlord in writing.

1. c) Subject to the Tenant having obtained the previous written consent of the Landlord and which shall not be unreasonably withheld in the case of a suitable respectable and solvent assignee or sub-tenant the Tenant may assign the whole of the demised premises at the market rent and will upon any assignment endeavour to obtain a direct covenant by the assignee with the Landlord to pay the rent and observe and perform the covenants and restrictions of this Lease for the remainder of the term.

1. D) That every Underlease and Sub-Underlease shall contain the same restrictions on assignment mortgaging charging underletting and parting with possession and the same provisions for registration as in this Underlease the same to be expressed to be for the benefit of the Landlord hereunder as well as for the Tenant.

INSPECTION

To permit the Landlord to inspect the demised premises at any time and for any purpose upon reasonable written notice (except in the case of an emergency) and forthwith to remedy to the

reasonable satisfaction of the Landlord’s Surveyor any breach of covenant for which the Tenant is liable after written notice thereof and that in case of default the Landlord may enter the demised premises and remedy the breach and all reasonable expenses reasonably and properly incurred thereof together with interest thereon from the date on which the expenditure is incurred to the date of payment shall be paid by the Tenant to the Landlord.

ENTRY TO REPAIR

To permit the Landlord after any prior written notice or at any time in an emergency to enter upon the demised premises in connection with the maintenance repair or alteration of any neighbouring premises or anything serving the same and running through or over the demised premises or to comply with any requirements of any competent authority without payment of compensation to the Tenant subject to the person exercising such right in a reasonable manner and making good any damage caused to the demised premises to the tenant’s satisfaction without unreasonable delay

COMPLIANCE WITH STATUTES ETC

To comply in all respects with the provisions of all Statutes for the time being in force and any requirements of any competent authority relating to the demised premises or any part thereof and so far as the law allows to indemnify the Landlord against all liability under any current or future statutory requirement and not at any time during the said term to do or omit or suffer to be done or omitted

on or about the demised premises any act or thing by reason of which the Landlord may under any enactment incur or have imposed upon it or become liable to pay charges or expenses.

TOWN PLANNING

a).Not to make or permit to be made any application for planning permission without the Landlord’s consent in writing.

1. b) To perform and observe all the provisions and requirements of the Planning Order (N.I.) 1972

To inform the Landlord immediately in the most expeditious manner possible and to give notice in writing within a reasonable time of any defect in the demised premises becoming known to the Tenant which might give rise to any duty or obligations on the Landlord pursuant to the Defective Premises Order (N.I.) 1975 or any statutory modification or re-enactment thereof for the time being in force and to indemnify and to keep indemnified the Landlord from and against

any loss claims or demands arising from a breach of any covenant or obligation on the part of the Tenant herein contained and at all times to display repair and maintain all notices (including the wording thereof) which the Landlord may from time to time require to be displayed at the demised premises.

ACCIDENTS

The Landlord shall not be responsible to the Tenant or the Tenant’s licensees servants or agents or other persons in the demised premises or calling upon the Tenant for any accident happening or injury suffered or damage to or loss of any chattel or property sustained on the demised premises or in the building or in or upon the forecourts roadways approach roads and car parks within the curtilage of the site unless the same shall be occasioned by any act default or negligence of the Landlord or of his servants or agents in the course of their employment. Public Liability Insurance is the responsibility of the tenant for the demised premises.

6   PROVISOS

PROVISO FOR RE-ENTRY

If the whole of the rent shall be unpaid for twenty eight days after becoming payable or if the Tenant being a Corporation shall enter into liquidation whether compulsory or voluntary (except for the purpose of amalgamation or reconstruction) or suffer a Receiver to be appointed or if Limited shall apply to become Unlimited or vice versa under the Companies Act (N.I.) 1960 or being an individual shall commit an act of bankruptcy the Landlord may at any time thereafter re-enter upon the demised premises or any part thereof and this demise shall thereupon terminate but without prejudice to any right of action or remedy of the Landlord in respect of any breach of covenant by the Tenant.

EXCLUSION OF USE WARRANTY

Nothing in this Lease shall imply or warrant that the demised premises may be used for the purpose herein authorised under the Planning Laws and any regulations now or from time to time in force.

SERVICE OF NOTICES

a).Any Notice under this Lease shall be in writing.

1. b) Any Notice under this Lease shall be sufficiently served if signed by the Landlord or by his Agent for the time being and handed to the Tenant or left at the Tenants principal offices or sent by Registered or Recorded Delivery Post to the demised premises or to the last place of abode or business or principal office of the Tenant or any one of the Tenants in Great Britain or Northern Ireland or Republic of Ireland known to the Landlord or his Agent.

PARAGRAPH HEADINGS

Paragraph headings do not form part of this lease and shall not be taken into account in the constructions or interpretations thereof.

DEVELOPMENT OF NEIGHBOURING PREMISES

The Tenant shall not have any right of light or air to demised premises which will in any way affect the

development of any adjoining or neighbouring premises.

CESSER OF RENT

If the demised premises or any part thereof shall be destroyed or so damaged by fire or any other risk insured against by the Landlord or the Superior Landlord so as to be unfit for occupation or use then unless the insurance of the demised premises shall have been vitiated by the act neglect default or omission of the Tenant the rent hereby reserved or a fair and just proportion thereof according to the nature and extent of the damage sustained shall be suspended and cease to be payable until the demised premises or damaged portion thereof shall have been reinstated or made fit for occupation or until the expiration of the period for which the Landlord has insured against loss of rent whichever is the

shorter and any dispute concerning this sub-clause shall be determined by a single arbitrator – in accordance with the Arbitration Act (NI) 1937 and or any subsequent relevant legislation to be appointed (in the absence of agreement) upon the application for the time being of the Royal Institution of Chartered Surveyors (Northern Ireland Branch).

COMPENSATION

Any statutory right of the Tenant to claim compensation from the Landlord on vacating the demised premises shall be excluded so far as the law allows.

OPTION TO DETERMINE

If the demised premises or the Building or any part thereof shall be damaged by fire or any other risks insured against by the Landlord and the Landlord shall deem it desirable to rebuild the Landlord may determine this Lease by giving to the Tenant not less than six calendar months’ notice in writing expiring at any time within twelve months from the occurrence.

No demand for or receipt of rent by or on behalf of the Landlord shall constitute a waiver of any breach of covenant by the Tenant.

8. LANDLORD’S COVENANTS

The Landlord hereby covenants with the Tenant: –

1). That the Tenant shall have quiet enjoyment of the demised premises against the Landlord and all persons claiming title through the Landlord.

2) At all times to keep the building or the demised premises insured against loss or damage by fire, explosion, storm, lightning, flood, burst pipes and aircraft (hereinafter called the “insured risk”) in such sum as the Superior Landlord’s or the Landlord’s Surveyor shall consider to be the full reinstatement value and to cause all insurance monies received by virtue of the insured risks (other than for loss of rent) to be laid out in making good the damage for which the money has been received or rebuilding the demised premises (unless payment of any insurance monies shall be refused as a result of any act or default of the Tenant).

3) To repair and during the said term to keep the exterior of the demised premises including the roof, and the structure of the demised premises in good and substantial repair and condition excluding the repair of any damage caused to the floor and metal ceiling supports by the Tenant its workmen or duly authorised agents.

4) To provide drainage and electrical facilities to the demised premises and to agree to maintain and repair those facilities on the Landlord’s premises so as proper drainage and electrical facilities are continually available to the demised premises.

FIRST SCHEDULE HEREINBEFORE REFERRED TO

UNIT

20C BALLINSKA ROAD

LONDONDERRY

BT48

More particularly described on the map or ground plan thereof annexed hereto and thereon-edged red including but not beyond the interior faces of the external walls bounding the premises, the floor surfaces but not beneath them and the ceiling not above them.