Draft lease for 7 World Trade Center, March 1998

NYC 9/11 Public Portal Document

be Substantially (Completed when (i) all work is completed (including necessary sign-offs of The Port Authority), excepting the Scheduled Items and minor details of construction or decoration „ jj which do not materially adversely affect Tenant’s use of the Demised Premises (or-when all work (.^5;Q^it-a&-aforesaid)'"wonltHtaye~b6efrcDmpletetH5ut^iDFrdetays"cattsetH5y“Tcnant-as-pFomdfida.in ^,3^ Xhis-Earagfaph (H) or otherwise), and (ii) a certified air balancing report improved by Landlord’s engineer as being in conformance with the Final Plans has been delivered to the Tenant. Tenant / shall promptly submit to Landlord a "punch-list" of such minor unfinished work which punch-list items, undisputed by Landlord, will be diligently completed. Tenant shall periodically inspect Tenant's Initial Work and make any objections thereto, if called for, without delay, so as to mitigate changes, delays and costs. Landlord shall give Tenant notice (“Landlord’s Completion Notice”) of Substantial (Completion of the Demised Premises on or promptly after the date of Substantial Completion, which notice shall include the items under (i) (Port Authority sign-offs) and (ii) above. Tenant shall certify or deny certification of Substantial Completion (“Certification”) to Landlord within three (3) business days after receipt of Landlord’s (Completion Notice. Failure by Tenant to respond within said three (3) business day period, shall be deemed (Certification by Tenant. If Tenant shall deny (Certification, Tenant shall state in writing in reasonable detail the reasons for such denial but, in any event. Substantial (Completion and the ComrncnccmciIt Date shall be deemed to have occurred on the date set forth in Landlord’s (Completion Notice, subject to the right of Tenant to have such issue resolved by Arbitration as provided in Paragraph J(J) of this Article.

(b) Tenant specifically acknowledges and agrees that the Work Cost may increase and there may be delay in completion of Tenant's Initial Work by reason of (i) subject to Paragraph (C) hereof, unreasonable delay or failure by Tenant in supplying information or giving authorizations;(ii) interference by Tenant or Tenant's contractors with the performance of Tenant's Initial Work after notice to Tenant;(iii) additional work or changes or new materials requested by Tenant, it being agreed that Landlord’s response to Tenant’s request for additional work or changes or new materials shall include the cost thereof and estimated resulting delay time; or (iv) any resubmissions or revisions of Tenant's Final Plans (without regard to any time periods granted to Tenant hereunder for making such resubmissions or revisions). (Corrections of errors in the Final Plans shall not be deemed a Tenant delay. Landlord shall advise Tenant withm one (1) business day after Landlord has knowledge of any condition or occurrence or act which will result in a delay under this Paragraph, which delay shall be deemed to have c meed. at Landlord’s option, on the earlier of the date of receipt bv Tenant of Landlord’s said notice or one (1) business day sooner. At Landlord's option, the Term of this Lease Substantial Completion shall commence occur on the date on which Tenant's Initial Work would have been Substantially Completed if not for the occurrence of any such delays.

(1) Notwithstanding anything contained to the contrary in this Lease, the total cost of Tenant's Initial Work which Landlord shall provide Tenant without charge and for installations performed prior to the (Commencement Date Substantial Completion shall be $1.668.858.00' (the "Landlord’s Contribution"), subject to reduction for

1 [* Figures in Paragraph (i) are subject to Landlord conTirmation.]

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NYC-WTC_000169858