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License agreement draft, 7 World Trade Center, July 1997

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Draft license agreement between the City of New York and 7 World Trade Company for space at 7 WTC.

NYC-WTC_000170553–000170576

Folder label: “LICENSE AGREEMENT

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NYC 9/11 Public Portal Document

. 07/25/97 17:04 CARB LURIA LLP •> 2126692030 NO.505 P012

the Buildings, Fue Departmeirt Port Authority and other regulatory agencies Utim) which

require said submission in the timeframes set forth in the Request for Proposals (“RFPX

Within tenf-hO) business days after DRES's approval of the Final Plans, Licensor

shall submit to DRES Building Department Port Authority administrative approvals with respect

to Final Plans as well as a copy of the work permit for alternative document issued bv the Port

AathQPty) Licensor hereby warrants and represents that it has the financial capability and/or

adequate financing to complete the Final Plans in the time frames set forth herein. Licensor's

misrepresentation with regard to its ability to provide or obtain adequate financing shall constitute

a basis for termination of tins License on five (S) days written notice.

In the event Licensor fails to commence and/or fails to meet any applicable time

frames, provided that Licensee is not responsible for Licensor's failure to comply with such

time frames, then Licensee shall give Licensor written notice (hei-einafter referred to as “Delay

Notice”) advising Licensor of its failure to so commence and/or perform. If Licensor fails to

commence or perform its obligations above within five (S) days from the date of said Delay

Notice, subject to force maieure. Licensee, in addition to any other remedy it may have, may, at

it's option terminate this License on ten (10) business days written notice to Licensor without

liability for the repayment of the Licensor Work Cost as defined in Article l.snbiectto

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NYC-WTC_000170562

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NYC-WTC_000170562Source: NYC Law Department, mirrored locally

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