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Draft lease agreement, August 1997

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Draft lease agreement between the City of New York and 7 World Trade Company for 45,815 square feet at 7 World Trade Center.

NYC-WTC_000170296–000170409

Folder label: “AGREEMENT OF LEASE

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NYC 9/11 Public Portal Document

payable by Landlord to the Port Authority constitutes a component of Base Rent.

ARTICLEJ

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 Article, 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

(the “Termination Notice”), in which event, this Lease shall terminate at the end of the 2nd

Rental Period (or later date contained in the Termination Notice) as if such date were the

Expiration Date, provided that (i) the Expiration Date shall fall on the last day of a calendar

month and (ii) within ninety (90) days after the delivery of Tenant’s Termination Notice under

this Article 3, Tenant shall pay to Landlord an amount equal to the unamortized portion of the

brokerage commission (as of the Expiration Date in the termination Notice) paid by Landlord to

the Broker (as defined in Article 29). Landlord shall provide Tenant with a statement of such

commission within 15 days following receipt of the Termination Notice. Time shall be of the

essence with respect to the giving of such notice and payment by Tenant.

ARTICLE 4

TAX AND OPERATING EXPENSE ESCALATIONS

Landlord and Tenant agree that in addition to the annual base rental provided for in the

preceding paragraphs of this Lease, additional rent shall be payable, consisting of Real Estate Tax

Escalations or Pilot Escalations and Operating Expense Escalations as those terms are hereinafter

defined. Landlord and Tenant agree Tenant’s pro-rata share of Real Estate Tax Escalations, Pilot

6

NYC-WTC_000170304

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NYC-WTC_000170304Source: NYC Law Department, mirrored locally

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