NYC 9/11 Public Portal Document
11,033,772.00 Per Annum (7/7/08 to 7/6/13)
919,481.00 Per Month
25.00 Per Sq. Ft.
11,591,034.00 Per Annum (7/7/13 to 7/6/18)
9,65,919.50 Per Month
26.96 Per Sq. Ft.
LATE FEES: 45 days after rent is due, a late charge equal to the lesser of
(Art. 2.4, Pg.6) (i) the base or prime rate of Chase Manhattan Bank in New
York City plus one (1) percentage point or (ii) the highest
rate permitted by law on the overdue amount applies.
RENT CREDIT: Free rent in the amount of $705,864.25 applies for the 36"
(Art. 2.6, Pg 7) month after Substantial Completion Date.
TERMINATION Tenant may terminate the lease on (a "Termination Date")
OPTION: anniversary date during the period between the 15th-19th
(Art.3, Pg.8) (or 22nd-25th anniversary dates if Tenant exercised the
Renewal option) of the Substantial Completion Date upon
notice to Landlord and any Mortgagee and Ground Lessor
at least (a) 18 month prior to the Termination Date of a
Total Termination Option or Partial Termination Option of
at least 215,000 Sq. Ft. or (b) one (1) year prior to a
Termination Date of a Partial Termination Option of less
than 215,000 Sq. Ft. or (c) during renewal period, Tenant
shall give two (2) years notice for total or Partial
Termination Option.
Tenant may exercise its right of Partial Termination up to
215,000 r.s.f. in any lease year and must consist of full
floors only. Tenant may only deliver a Termination Notice
for the basement, ground floor and mezzanine as a single
unit and (the "Retail Space"). Tenant must first surrender
all of the office space on floors 18-25 prior to terminating
space below the 18 0' floor. After first Partial Termination
notice is given, all subsequent Termination notices shall be
for space which is contiguous to previously surrendered
space. Only one (1) Termination Option may be exercised
in any one (1) Lease Year.
To exercise the Termination Option, Tenant shall pay
Landlord the unamortized portion of the Landlord's
contribution toward Tenant's alterations and improvements,
architectural fees, brokerage commission, and free rent.
Exhibit I contains year-by-year payment schedules.
NYC-WTC 000136517
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