WHICH THE PREMISES ARE LOCATED, AND THE BUILDING LOBBY, SUBJECT TO
THE TERMS, COVENANTS, PROVISIONS AND CONDITIONS OF THIS LEASE.
1.03
THE TERM OF THIS LEASE (A) SHALL COMMENCE ON THE
COMMENCEMENT DATE (AS DEFINED IN SECTION 1.05 HEREOF) AND (B) SHALL END AT
11:59 P.M. ON THE LAST DAY OF THE MONTH IN WHICH OCCURS THE DAY IMMEDIATELY
PRECEDING THE 15TH ANNIVERSARY OF THE RENT COMMENCEMENT DATE (AS DEFINED IN
SECTION 1.05 HEREOF) (THE "EXPIRATION DATE"), OR ON SUCH EARLIER DATE UPON WHICH
THE TERM OF THIS LEASE SHALL EXPIRE OR BE CANCELED OR TERMINATED PURSUANT TO ANY
OF THE CONDITIONS OR COVENANTS OF THIS LEASE OR PURSUANT TO LAW.
1.04
THE RENTS SHALL BE AND CONSIST OF:
(A)
FIXED RENT ("FIXED RENT") AT THE RATE OF:
(I)
TWO MILLION TWO THOUSAND THREE HUNDRED
FOUR AND 00/100 ($2,002,304) DOLLARS PER ANNUM ($166,858.67 PER MONTH) FROM THE
COMMENCEMENT DATE THROUGH AND INCLUDING THE DAY IMMEDIATELY PRECEDING THE TENTH
(10TH) ANNIVERSARY OF THE RENT COMMENCEMENT DATE; AND
(II)
TWO MILLION ONE HUNDRED FIFTY EIGHT
THOUSAND SEVEN HUNDRED THIRTY FOUR AND 00/100 ($2,158,734) DOLLARS PER ANNUM
($179,894.50 PER MONTH) FROM THE TENTH (10TH) ANNIVERSARY OF THE RENT
COMMENCEMENT DATE THROUGH AND INCLUDING THE EXPIRATION DATE.
1
Fixed Rent shall be payable in equal monthly installments in advance on the
first day of each and every calendar month during the term from and after the
Rent Commencement Date, and
(B)
ADDITIONAL RENT ("ADDITIONAL CHARGES")
CONSISTING OF TAX PAYMENTS (HEREINAFTER DEFINED), OPERATING PAYMENTS
(HEREINAFTER DEFINED), CHARGES FOR ELECTRICITY FURNISHED TO TENANT AND ALL OTHER
SUMS OF MONEY AS SHALL BECOME DUE FROM AND PAYABLE BY TENANT TO LANDLORD
HEREUNDER;
(C)
NOTWITHSTANDING ANYTHING TO THE CONTRARY
CONTAINED HEREIN, PROVIDED THAT TENANT IS NOT THEN IN MONETARY DEFAULT HEREUNDER
BEYOND APPLICABLE NOTICE AND CURE PERIODS, TENANT SHALL NOT BE OBLIGATED TO PAY
FIXED RENT OR MAKE ANY TAX PAYMENTS BY REASON OF ANY INCREASE IN TAXES OVER THE
BASE TAX AMOUNT FOR THE PERIOD FROM THE COMMENCEMENT DATE THROUGH THE DAY
IMMEDIATELY PRECEDING THE RENT COMMENCEMENT DATE.
TENANT SHALL CONTINUE TO PAY
ALL ADDITIONAL CHARGES (EXCEPT AS OTHERWISE SET FORTH IN THE PRECEDING
SENTENCE), APPLICABLE FOR EACH OF THE FORGOING MONTHS;
all to be paid in lawful money of the United States to Landlord at its office,
or such other place, or to Landlord's agent and at such other place, as Landlord
shall designate by notice to Tenant.
1.05
THE "COMMENCEMENT DATE" SHALL BE THE DATE WHICH
IS THE EARLIER TO OCCUR OF:
(I) THE DATE ON WHICH LANDLORD TENDERS DELIVERY OF
THE PREMISES TO TENANT WITH THE WORK TO BE PERFORMED BY LANDLORD TO PREPARE THE
PREMISES FOR TENANT'S OCCUPANCY AS DESCRIBED ON EXHIBIT C ATTACHED HERETO
("LANDLORD'S WORK") SUBSTANTIALLY COMPLETED, OR (II) THE DATE TENANT OR ANYONE
CLAIMING UNDER OR THROUGH TENANT, FIRST OCCUPIES THE PREMISES, OR ANY PART
THEREOF, FOR THE PERFORMANCE OF TENANT'S WORK, IF ANY, OR FOR ANY OTHER
PURPOSE.
LANDLORD SHALL FIX THE COMMENCEMENT DATE AND SHALL GIVE TENANT