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License Agreement terms: Commencement and Termination, Dec 1997

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Legal document excerpt defining license commencement, term duration, and termination conditions for a City property agreement dated December 15, 1997.

NYC-WTC_000171075–000171077

Folder label: “Article 1®Commencement: Term: Termination

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NYC 9/11 Public Portal Document

NYC LRU DEFT 12 7Se CYGA P.04.^04 XC-15-1S97 14:17

■' Licensed Premises because of uncompleted Licensor's Work pursuant to Article 5 hereof through A. no fault or neglect of Licensee, no Licensor Work Cost shall be payable. Except as provided in the

third and founh paragraphs of this Article 1. if. prior to the Expiration Date. Licensor shall

terminate this License, except if due to a breach of the terms of this Licen.se by Licensee, no

Licensor Work Cost sha).! be payable from Licensee to Licensor. Subject to the provisions of said

lease, the Licensor’s Work Cost payment under this License shall also be waived in its entirety if

Licensor and Licensee execute and deliver a lease of the Licensed Premises during the term of this

License pursuant to Article 3 of this License to be applied towards “"Landlord's Maximum

Contribution" under said lease.

ARTICLE 2

Subject to the following provisions of this Article and performance of Licensor's

obligations under Article 5, Licensee shall pay a license fee of one dollar (SLOO) upon the

Expiration Date. The license fee shall be payable at Licensor's address hereinbefore set forth or at

such other address as may be designated by Licensor from time to time, by notice in the manner

provided herein.

ARTICLE 3

OmXJIiZQJLEASE In cc?n.sideraiion for entering into this License and agreeing to obey the covenants

herein, including payment of the license fee. Licensee is hereby granted, during the term of this

5 A', \7WTLIC« .MPD

TOTAL P.04

NYC-WTC_000171077

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NYC-WTC_000171077Source: NYC Law Department, mirrored locally

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