With regard to the acquisition of acquired assets, Optex Systems has resumed L-3`s commitments as a result of this lease assignment and the “contract”) agreement of October 30, 2014 between L-3 as a tenant, Optex Systems as a assignee and CABOT II TX1W04, LP, with respect to these specific leases of August 27, 2014. , 1996 for the premises of 9839 and 9839 respectively. 9827 Chartwell Drive, Dallas, Texas (the “Premises”), as amended by the first amendments of May 14, 2001, the second amendments of January 9, 2004, the third amendments of February 21, 2005 and the fourth addition of March 13, 2009 (such leases amended in the amended version are called “lease”). The premises rented under the lease consist of approximately 56,633 square meters of area on the site, with a monthly rent of about 32,000 dollars per month. The term of the lease expires on September 30, 2016 and the tenant has four renewal options and each extension period is five years. The conversion price of bonds is subject to a “complete” anti-dilution adjustment for subsequent lower issuances of Optex Systems Holdings, as well as adjustment provisions for stock fractions, share dividends, recapitalizations, etc. The bonds contain certain common negative agreements and delays, including, but not limited to non-payment of principal and interest by Optex Systems Holdings, substantial defaults in other transaction documents, bankruptcy and optex Systems Holdings` inability to provide common share certificates after a conversion date. In January 2015, the company signed an amendment to the operational leasing agreement for its current office and laboratory facilities, which extended the lease period until March 2017. Future minimum payments under the lease as amended are as follows: In March 2014, Heat Biologics I, Inc.
entered into an additional exclusive licensing agreement with the University of Miami. Under this licensing agreement, no annual payment is required. The Company is required to pay milestones under this licensing agreement as follows: $50,000 after the completion of a Phase I clinical trial, $100,000 after the completion of a Phase II study, $100,000 after the completion of a Phase III study and $100,000 for the adoption of a BLA by the FDA or its foreign equivalent. During the first quarter of 2014, the Company entered into a lease agreement for the lease of a new office facility. The new lease will begin on May 1, 2014 or around May 1, 2014 and includes a 60-month increase in rents. Rental costs are recorded during the rental period. On April 19, 2018, the company entered into an amended lease agreement to extend the term of its original lease until January 15, 2024 and to transfer and expand its offices in the same office park in Newark, California. The company has the option of extending the term of the amended lease for a further five-year period, which would begin to expire.