Lease Agreement for 7 WTC, Mar 1998

NYC 9/11 Public Portal Document

condemnation;

(13) The cost of any alterations to prepare space for occupancy of any tenant in the Building;

(14) Expenses resulting from any violations by Landlord of the terms of this Lease or any other lease in the Building;

(15) Refinancing costs and mongage interest and amonization payments;

(16) Any item otherwise indicated in this Lease to be performed at Landlord's sole cost and expense;

(17) Any item otherwise indicated in this Lease to be performed by Landlord but paid for by Tenant as additional rent or otherwise; and

(18) Expenditures for capital improvements or capital equipment, other than those included in 1.(3) above.

The intent of the parties is that Tenant shall pay its proportionate share of increases in Base Year Operating Expenses (i.e. Operating Expense Escalations) based on the Building being not less than ninety-five percent (95%) occupied. Accordingly, in determining the amount of Base Year Operating Expenses , if less than ninety-five percent (95%) of the Building rentable area shall have been occupied by tenant(s) at any time during any such Operating Expense Base Year, Base Year Operating Expenses shall be increased by an amount equal to expenses which would have been incurred in the Building under an operating clause such as this one had such occupancy been ninety-five percent (95%) throughout such Operating Expense Base Year.

Landlord shall be required to disclose and notify Tenant of any significant related pany transactions the cost of which are included in the Base Year Operating Expenses. When such transactions occur prices of same must be in line with normal industry practice in New York City. Failure to notify Tenant of such related pany transactions shall result in a disallowance of such costs not in line with normal industry practice in New York City that would otherwise be pan of the Base Year Operating Expenses. If such related pany transactions occurred and were disclosed but it is found by the Tenant that the cost thereof was excessive, then such charges shall be disallowed to the extent they exceed normal industry prices in New York City.

Within one-hundred twenty (120) days after the expiration of the Operating Expense Base Year, Landlord shall furnish to Tenant a schedule of Operating Expenses for said Operating Expense Base Year. Such schedule of Base Year Operating Expenses must be prepared in a format no less detailed than that shown in Exhibit B hereto.

Such schedule of Base Year Operating Expenses must include a statement signed by the

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NYC-WTC_000169733