NYC 9/11 Public Portal Document
I.
Final Plans is on or prior to December 31,1997. Licensor's misrepresentation with regard to its
ability to provide or obtain adequate financing shall constitute a basis for termination of this
License on five (5) days written notice.
In the event Licensor fails to commence and/or fails to meet any applicable time
frames, provided that Licensee is not responsible for Licensor’s failure to comply with such time
frames, then Licensee shall give Licensor written notice (hereinafter referred to as “Delay Notice”)
advising Licensor of its failure to so commence and/or perform. If Licensor fails to commence or
perform its obligations above within five (5) business days from the receipt of said Delay Notice,
subject to force majeure. Licensee shall give Licensor a second written notice (the “Final Delay
Notice”). If Licensor fails to commence or perform its obligations above within five (5) days from
receipt of the Final Delay Notice, subject to force majeure. Licensee, in addition to any other
remedy it may have, may, at it's option terminate this License on ten (10) business days written
notice to Licensor without liability for the repayment of the Licensor Work Cost as defined in
Article 1, subject to Licensor’s right to dispute the Delay Notice.
ARTICLE 6
INTENTIONALLY OMITTED
ARTICLE 7
EXCULPATORY
Licensee agrees that the liability of Licensor under this License and all matters
pertaining to or arising out of the Licensed Premises, shall be limited to Licensor’s interest in the
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I'
NYC-WTC_000169398
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