Draft lease for 7 World Trade Center, March 1998

NYC 9/11 Public Portal Document

(D) Except as provided in this Article, Landlord shall not be required to spend any money or to do any work to prepare the Demised Premises for Tenant's occupancy. The specification of Tenant's Initial Work represents the limit of Landlord's responsibilities in connection with the preparation of the Demised Premises and except as so provided, Tenant shall take the Demised Premises "as-is". Any other improvements, alterations or additions shall be performed by Tenant, but subject to all of the terms, conditions and covenants of this Lease.

(E) Landlord makes no representation of the date on which it will Substantially (Complete (hereinafter defined) Tenant's Initial Work, and Landlord shall be under no penalty or liability to Tenant whatsoever by reason of any delay in such performance and this Lease shall not be affected thereby, except as set forth in the last sentence of this Paragraph (E) and Paragraph J (L). In no event shall the Expiration Date be postponed beyond January 31, 2018. Landlord agrees that it will use reasonable efforts to obtain contracts for the performance of the work required to be performed by it and to arrange to have all such work commenced without delay and prosecuted without unnecessary interruption until completion. Notwithstanding the X / Apreceding, Landlord shall use its best efforts (at no additional expense) to Substantially (3oglplete J Tenant's Initial Work within six (6) months aftpn.npprnv.nl nf the hidr nf.nl 1 trades necess^ for Substantial Completion of the Demised Premises (the "Target Date"), excluding the Long Lead Items/Work set forth on Schedule 1 annexed hereto (the "Scheduled Items"). In the event (a) Tenant's Initial Work shall not be Substantially Completed (as hereinafter defined) excluding the Scheduled Items on or prior to the Target Date not due to a Tenant delay (as set forth in this ''^Article) or fault of Tenant to perform its obligations under this Lease, and (b) Tenant shall not f have taken possession of any portion of the Demised Premises, then, the Rent Commencement Date shall be adjourned one (1) day for each one (1) day after the Target Date that Tenant's Initial Work shall have failed to have been Substantially Completed.

F. Tenant shall be permitted to enter into the Demised Premises for installation of its machinery, furniture, equipment and fixtures and performance of its work, all as permitted by this Lease prior to the Commcnccmcnt Date Substantial Completion at its sole risk, provided that such entry and work do not interfere in any way with Landlord's performance of the work to be done by Landlord. At any time during such period of prior entry, if Landlord notifies Tenant that Tenant's entry or work is interfering with or delaying Landlord's performance of Tenant's Initial Work, Tenant shall forthwith discontinue any further work and shall remove from the Demised Premises and shall cause its workmen or contractors to remove therefrom, any equipment, materials or installations which are the subject of Landlord's notice.

(G) Subject to the provisions of this Anicle 6 and Article 11, all work performed by Landlord, including the Building air conditioning installation, shall, upon installation, become Landlord's property (excluding Tenant’s trade fixtures, personal property and equipment) and shall be surrendered at the expiration or sooner termination of the Term of this lease, in good condition, reasonable wear and tear excepted.

(H) (a) For the purposes of this Article, Tenant's Initial Work shall be deemed to

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