NYC 9/11 Public Portal Document
07/29/97 11:54 CARB LURIA LLP 12127880367 NO.554 P01O
ARTICLE 2
LICENSE FEE
Subject to the following provisions of this Article and perfonnance of Licensor’s
obligations under Article 5, Licensee shall pay a license fee of one dollar ($1.00) upon the
Expration Date. The license fee shall be payable at Licensors address hereinbefore set forth or at
sudi other address as may be designated by Licensor from time to time, by notice io the manner
provided herein
ARTICLE3
OPTION TO LEASE
In consideration for entering into this License and agreeing to obey the covenants
herein, including payment of the license fee, Licensee is herd>y granted, during the term of this
License, the irrevocable option of entering into a lease for the Liosnsed Premises on terms
mutually satis&ctory to the parties heron. This option shall be exercisable only by execution and
delivery of a Lease of the Licensed Premises between Licensor and Licensee during the term of
this License, and upon the termination or expiration of this License, this option, if such a lease of
the License Premises between Licensor and Licensee shall not have theretofore been executed and
delivered, shall also terminate timultaneously with the termination or expiration of this License.
Even if Licensee shall desire to lease the Licensed Premises, however, Licensor shall have no
obligation to execute a lease with Licensee unless all the terms, covenants and conditions of the
proposed lease are satis&ctoiy to Licensor in Licensor's sole, uncontrolled discretion.
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NYC-WTC_000171173
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