Draft lease for 7 World Trade Center, March 1998

NYC 9/11 Public Portal Document

month) for foe period commencing on foe day next succeeding foe eviration of foe 2nd Rental Period and ending on the day next preceding foe fifteenth (ISA) anniversary of the Rent Cc noem Dale, both dates Inclusive (the *3rd Rental Mod"); and (k) 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 etqriratlon of the 3rd Rental Period and ending on foe Expiration Date (foe "4th Rental Rsrlod”), wWeh shall be payable in equal monthly Installments at foe end of each and every calendar month during the Tenn. Theterm "Rent Commaiieaimat Date” shall mean January 1,1900 and be applicable solely as to Base Rem and additional rent for escalations under Article 4, it being agre^ that all otto additional rem and all otto charges (including electricity under Article 10) shall begin on foe day on which Tenants Initial Work (as defined in Article 6) in the Demised Premises has been Substantially (Completed (as defined in Article 6), except that It ad^p^|og^ mt shall he narahle M act forth fal AlUck 6: and

(b) "additional not” 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 nuy designate by notice to Tenant, in lav^ money of foe 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 b^me 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 d<^ 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 property, address, and block and lot for which the bill la 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*! contact person for billing inquiries must be provided to Tenant in the manner designated in Article 21 hereof. The parties acknowledge that Pilot (hereinafter defined) payable by Landlord to the Port Authority constitutes a component of Base Rent. ART1CLE3 OPTION TO TKRMTNATC The Tenant shall have the right to terminate this Lease, in whole, without any penalty or liability to Tenant, except as provided in this Article, effective as of the end of the 2nd Rental

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