NYC 9/11 Public Portal Document
SIGNIFICANT RELATED PARTY TRANSACTIONS
Landlord shall be required to disclose and notify Tenant of any transactions with
significant related parties, including subsidiaries and affiliates of Landlord, the costs of which are
charged to Tenant as rent or additional rent, including, but not limited to. Base Year Operating
Expenses (if CPI formula is used) overtime HVAC and Tenant repairs. For ournoses of this
Landlord. Landlord shall provide Tenant with written notice of such transactions upon
submission of invoices for Rent or at the end of the calendar year in which the transactions to be
billed as Rent were performed by significant related parties. When such transactions occur.
prices of same must be in line with normal industry practice in New York City. Upon 5 days
notice to Landlord and Landlord’s failure to notify Tenant of such related party transactions shall
result in a disallowance of such costs that would otherwise be billed as rent. If such related party
transactions occurred and were disclosed, but it is found by Tenant that the costs thereof exceed
normal industry costs in an arms length third party transaction in New York City, then such
excessive charges shall be disallowed. This Artieie-excludes-managemenrfeesTncIuded in
I Opera«g.B*peHse^ -J
k\ ’ARTICLE 26
ASBESTOS
If during the Term hereof, the removal or encapsulation of asbestos or asbestos
containing materials determined to be present During the Term of this Lease, upon Tenant’s
discovery and notice to Landlord, Landlord shall monitor and manage and, where necessary
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NYC-WTC_000170293
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