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Document Preview Agreement of Lease |
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Title: |
Agreement of Lease |
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Entities: |
Citibank, NA; Thestreet com; TheStreet.com, Inc.; Lehman Brothers Holdings Inc.; Fried, Frank, Harris, Shriver & Jacobson; Hughes Hubbard & Reed LLP |
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Date: |
2004 |
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Size: |
Preview shows 13KB of 307KB total |
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Price: |
$99 |
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ID: |
#1578021 |
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44 WALL OWNER, LLC,
as Landlord
and
INDEPENDENT RESEARCH GROUP LLC,
as Tenant
--------------------------------------
AGREEMENT OF LEASE
--------------------------------------
Premises: Entire 10th Floor
44 Wall Street
New York, New York 10005
Dated: As of May 10, 2004
TABLE OF CONTENTS
Page
-----
ARTICLE 1 BASIC LEASE PROVISIONS..................................................................................2
ARTICLE 2 PREMISES, TERM, RENT....................................................................................4
ARTICLE 3 USE AND OCCUPANCY.......................................................................................5
ARTICLE 4 CONDITION OF THE PREMISES; LANDLORD'S WORK..............................................................6
ARTICLE 5 ALTERATIONS............................................................................................12
ARTICLE 6 FLOOR LOAD.............................................................................................16
ARTICLE 7 REPAIRS................................................................................................17
ARTICLE 8 INCREASES IN TAXES AND OPERATING EXPENSES..............................................................18
ARTICLE 9 REQUIREMENTS OF LAW....................................................................................23
ARTICLE 10 SUBORDINATION.........................................................................................26
ARTICLE 11 SERVICES..............................................................................................28
ARTICLE 12 INSURANCE; PROPERTY LOSS OR DAMAGE; REIMBURSEMENT.....................................................32
ARTICLE 13 DESTRUCTION - FIRE OR OTHER CAUSE.....................................................................34
ARTICLE 14 EMINENT DOMAIN........................................................................................37
ARTICLE 15 ASSIGNMENT AND SUBLETTING.............................................................................38
ARTICLE 16 ELECTRICITY...........................................................................................47
ARTICLE 17 ACCESS TO PREMISES....................................................................................49
ARTICLE 18 DEFAULT...............................................................................................50
ARTICLE 19 REMEDIES AND DAMAGES..................................................................................52
ARTICLE 20 LANDLORD'S RIGHT TO CURE; FEES AND EXPENSES...........................................................54
ARTICLE 21 NO REPRESENTATIONS BY LANDLORD: LANDLORD'S APPROVAL...................................................55
ARTICLE 22 END OF TERM...........................................................................................56
ARTICLE 23 QUIET ENJOYMENT.......................................................................................57
ARTICLE 24 NO SURRENDER; NO WAIVER...............................................................................57
ARTICLE 25 WAIVER OF TRIAL BY JURY...............................................................................58
ARTICLE 26 INABILITY TO PERFORM..................................................................................59
ARTICLE 27 NOTICES...............................................................................................59
ARTICLE 28 RULES AND REGULATIONS.................................................................................60
ARTICLE 29 PARTNERSHIP TENANT....................................................................................61
ARTICLE 30 VAULT SPACE...........................................................................................62
ARTICLE 31 BROKER................................................................................................62
ARTICLE 32 INDEMNITY.............................................................................................63
ARTICLE 33 ADJACENT EXCAVATION; SHORING..........................................................................64
ARTICLE 34 ICIP..................................................................................................64
ARTICLE 35 INTENTIONALLY DELETED.................................................................................69
ARTICLE 36 MISCELLANEOUS.........................................................................................66
ARTICLE 37 SECURITY DEPOSIT......................................................................................70
ARTICLE 38 TELECOMMUNICATIONS....................................................................................72
EXHIBITS/SCHEDULE:
A - Floor Plans
B - Definitions
C - Cleaning Specifications
D - Rules and Regulations
Schedule A - Fixed Rent Schedule
Schedule B - Architectural Drawings and Specifications
Schedule C - Tenant Upgrades
AGREEMENT OF LEASE
THIS AGREEMENT OF LEASE (collectively, as amended from
time-to-time, this "Lease") is made as of May 10, 2004, between 44 Wall Owner,
LLC ("Landlord"), a Delaware limited liability company, having an office c/o
Swig Burris Equities, LLC, 770 Lexington Avenue, New York, New York 10021 and
Independent Research Group LLC ("Tenant"), a Delaware limited liability company,
having an office at 44 Wall Street, New York, New York 10005.
Landlord and Tenant hereby covenant and agree as follows:
ARTICLE 1
BASIC LEASE PROVISIONS
PREMISES Subject to Article 35, the entire tenth floor
of the Building, substantially as shown on
Exhibit A hereto.
BUILDING The building, fixtures, equipment and other
improvements and appurtenances now located or
hereafter erected, located or placed upon the
land known as 44 Wall Street, New York, New
York.
REAL PROPERTY The Building, together with the plot of land
upon which it stands.
COMMENCEMENT DATE The date of this Lease.
RENT COMMENCEMENT DATE The date which is the six month anniversary
of Landlord's Completion Date
(the "Possession Date").
EXPIRATION DATE The date that is the last day of the
month in which the tenth anniversary of the
Rent Commencement Date occurs.
TERM The period commencing on the Commencement
Date and ending on the Expiration Date.
PERMITTED USES Executive and general offices and trading
floor and for no other purpose.
BASE TAX YEAR Taxes payable for the Tax Year commencing on
July 1, 2004 and ending on June 30, 2005.
2
TENANT'S PROPORTIONATE SHARE 5.183%.
AREA OF BUILDING 310,653 rentable square feet.
AREA OF PREMISES 16,100 rentable square feet.
The rentable square footage of the Building
and the Premises have been mutually
determined and agreed upon by Landlord and
Tenant for purposes of this Lease, and
Landlord makes no representation whatsoever
as to the actual square feet contained in the
Premises or the Building or any portions
thereof.
FIXED RENT See Schedule A hereto.
ADDITIONAL RENT All sums other than Fixed Rent payable by
Tenant to Landlord under this Lease,
including Tenant's Tax Payment, late charges,
overtime or excess service charges, and
interest and other costs related to Tenant's
failure to perform any of its obligations
under this Lease.
RENT Fixed Rent and Additional Rent, collectively.
INTEREST RATE The lesser of (i) 3% per annum above the Base
Rate and (ii) the maximum rate permitted by
applicable Requirements.
LATE CHARGE The lesser of (i) 2% of the outstanding
amount and (ii) the maximum amount permitted
by applicable law.
SECURITY DEPOSIT $383,716.00, subject to Article 37.
BROKER Julien J. Studley, Inc.
LANDLORD'S AGENT Swig Burris Equities, LLC, or any other
person designated at any time and from time
to time by Landlord as Landlord's Agent and
their successors and assigns.
PROFIT SHARE 50%.
3
All capitalized terms used in the text of this Lease without
definition are defined in this Article 1 or in Exhibit B.
ARTICLE 2
PREMISES, TERM, RENT
Section 2.1 Lease of Premises. Subject to the terms of this Lease,
Landlord leases to Tenant and Tenant leases from Landlord the Premises for the
Term. In addition, Landlord grants to Tenant the right to use, on a
non-exclusive basis and in common with other tenants, the lobby area and other
Building common elements and common facilities serving the Premises.
Section 2.2 Payment of Rent.
(a) No Setoff; Manner of Payment. Tenant shall pay to
Landlord, without notice or demand, and without any set-off,
counterclaim, abatement or deduction whatsoever, except as may be
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