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Quotes & Info
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| ITLN > SEC Filings for ITLN > Form 8-K on 19-Dec-2008 | All Recent SEC Filings |
19-Dec-2008
Entry into a Material Definitive Agreement, Financial Statements and Exhibits
On December 16, 2008, Intellon Corporation (the "Company") and E&E Investments (the "Landlord") entered into a Business Lease for leased facilities of approximately 24,400 square feet in Ocala, Florida (the "Lease Agreement").
The Company currently maintains a research and production facility in the leased facilities under an existing lease that expires on December 31, 2008. The term of the new Lease Agreement will begin upon the expiration of the existing lease and will expire on December 31, 2009.
The base rental rate under the Lease Agreement is $197,266.59 per year plus sales tax. Upon an event of default, the Lease Agreement provides that the Landlord may terminate the lease and require the Company to pay the entire amount of rent that would have been payable during the remainder of the lease term, less any rent the Landlord receives from re-letting the premises.
The foregoing is a summary of certain material provisions of the Lease Agreement and is qualified in its entirety by reference to the full text of the Lease Agreement, which is set forth in Exhibit 10.1 to this report. Exhibit 10.1 is incorporated herein by reference and constitutes a part of this report.
Exhibit No. Description
10.1 Business Lease Agreement between Intellon Corporation and E&E
Investments, dated December 16, 2008
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