Lease Agreement for 7 WTC, Mar 1998

NYC 9/11 Public Portal Document

Period and ending on the day next preceding the fifteenth (I5th) anniversary of the Rent Commencement Date, both dates inclusive (the "3rd Rental Period"); and

(iv) TWO MILLION ONE HUNDRED SEVEN THOUSAND SIX HUNDRED FORTY-FOUR and 00/100 ($2,107,644.00) DOLLARS ($175,637.00 per month) for the period commencing on the day next succeeding the expiration of the 3rd Rental Period and ending on the Expiration Date (the "4th Rental Period"), which shall be payable in equal monthly installments at the end of each and every calendar month during the Term. The term "Rent Commencement Date" shall mean January 1. 1999 and be applicable solely as to Base Rent and additional rent for escalations under Anicle 4. it being agreed that all other additional rent and all other charges (including electricity under Anicle 10) shall begin on the day on which Tenant’s Initial Work (as defined in Anicle 6) in the Demised Premises has been Substantially Completed (as defined in Anicle 6). except that construction cost additional rent shall be payable as set fonh in Anicle 6; and

(b) "additional rent" consisting of all such other sums of money as shall become due from and payable by Tenant to Landlord hereunder (for default in payment of which Landlord shall have the same remedies as for a default in payment of Base Rent), all to be paid to Landlord at its office, or such other place, or to such agent and at such place, as Landlord may designate by notice to Tenant, in lawful money of the United State of America, by check drawn on a bank or trust company which is a member of the New York Clearing House Association (or successor thereto).

Tenant shall pay the Base Rent and additional rent herein reserved promptly as and when the same shall become due and payable, without demand therefor and without any abatement, deduction or setoff whatsoever except as expressly provided in this Lease. If the Rent Commencement Date occurs on a day other than the first day of a calendar month, the Base Rent for such calendar month shall be prorated and the balance of the first month’s Base Rent theretofore paid shall be credited against the next monthly installment of Base Rent.

All bills sent by Landlord to Tenant shall have clearly reflected thereon the propeny, address, and block and lot for which the bill is being sent. All bills must be legible and must contain the address to which the payment should be sent. The name, address, and telephone number of the Landlord’s contact person for billing inquiries must be provided to Tenant in the manner designated in Anicle 21 hereof. The panics acknowledge that Pilot (hereinafter defined) payable by Landlord to the Pon Authority constitutes a component of Base Rent.

ARTICLES OPTION TO TERMINATE

The Tenant shall have the right to terminate this Lease, in whole, without any penalty or liability to Tenant, except as provided in this Anicle. effective as of the end of the 2nd Rental Period, or at any time thereafter, upon eighteen (18) months prior written notice to the Landlord

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