Lease Agreement between City and 7 WTC Company, Mar 1998

NYC 9/11 Public Portal Document

(B) Only Landlord shall have the right to institute tax reduction or other proceedings to reduce the Taxes or the assessed valuation of the Real Property. Nothing herein shall obligate Landlord to file any application or institute any such proceeding. (C) If a Tax Year begins prior to the Rent (Commencement Date or ends after the Expiration Date or sooner termination of this Lease (other than pursuant to Article 30), Tenant's Pilot Payment and Tenant's Tax Payment with respect to such Tax Year shall be apportioned in the ratio of the number of days in such Tax Year occurring within the Term to the total number of days in such Tax Year. If the Rent Commencement Date shall occur on a date other than June 1 or December 1, and there shall be a Tenant's Pilot Payment and Tenant's Tax Payment payable with respect to the period commencing on the Rent Commencement Date, such Tenant's Pilot Payment or Tenant's Tax Payment shall not become due until Landlord shall have furnished a Landlord's Statement with respect thereto and in no event until after the Rent Commencement Date.

(D) Landlord will use reasonable efforts to obtain a waiver by the Port Authority for payment of Tenant’s Pilot Payment from Tenant named herein. In the event any such waiver is obtained Tenant shall receive the benefit thereof during such period of waiver including all such amounts, if any, previously paid by Tenant to Landlord for the period of time included in such waiver. In the event the Pilot component of the basic annual rental payable by Landlord under the Underlying Lease for the Demised Premises shall be waived by the Pon Authority for Tenant and not be payable by Landlord to the Pon Authority for the Demised Premises, the Base Rent (on a per square foot basis) shall be reduced by the amount (and duration) of such waiver by the Pon Authority. Landlord makes no representation to Tenant that any of the provisions of this Paragraph (D) shall be effective and the failure to obtain same shall have no effect on this Lease. In the event Real Estate Taxes shall become payable for the Real Property, said reduction in Base Rent shall immediately cease and the Base Rent shall be fully restored to the rentals set fonh in Anicle 2.

E. RIGHT TO AUDIT

Tenant and its authorized representative shall have the right to examine, copy and audit any and all books and records of Landlord, pertinent to the escalations under this Article including but not limited to original invoices, originals of executed contracts, original cancelled checks, general ledgers and books of original entry, for the purpose of verifying the accuracy of any statement furnished by Landlord to Tenant. All statements are subject to audit by the occupying agency or its representative and post-audit by the Office of the Comptroller. Landlord shall be required to retain the books and records required herein, at its main office or such other location within New York City as it may designate, for six (6) years after the period to which they relate.

Upon Tenant's request, Landlord shall notify Tenant of (i) any protest filed by any other tenant regarding any amounts billed pursuant to this Article and of (ii) any audits, resolution of audits, claims for refund of overpayments, settlements of overpayments, refunds of

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