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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

(A) If this Lease is terminated under the provisions of Article 30, or if Landlord shall

re-enter the Demised Premises under the provisions of Article 31, or in the event of the

termination of this Lease, or of re-entry, by or under any summary dispossess or other proceeding

or action or any provision of law by reason of default hereunder on the part of Tenant, Tenant

shall pay to Landlord as damages, at the election of Landlord either;

(a) a sum which at the time of such termination of this Lease or at the time of

any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any.

of:

(1) the aggregate of the fixed rent and the additional rent payable

hereunder which would have been payable by Tenant (conclusively presuming the additional rent

to be the same as was payable for the year immediately preceding such termination) for the period

commencing with such earlier termination of this Lease or the date of any such re-entry, as the

case may be, and ending with the Expiration Date, had this Lease not so terminated or had

Landlord not so re-entered the Demised Premises; over

(2) the aggregate rental value of the Demised Premises for the same

period; or

(b) sums equal to the fixed rent and the additional rent (as above presumed)

payable hereunder which would have been payable by Tenant had this Lease not so terminated, or

had Landlord not so re-entered the Demised Premises, payable upon the due dates therefor

specified herein following such termination or such re-entry and until the Expiration Date,

provided, however, that if Landlord shall relet the Demised Premises during said period,

Landlord shall credit Tenant with the net rents received by Landlord from such reletting, such net

82

NYC-WTC_000170385

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NYC-WTC_000170385Source: NYC Law Department, mirrored locally

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