AGREEMENT OF LEASE
between
SEVEN THIRTY ONE LIMITED PARTNERSHIP,
Landlord
and
BLOOMBERG L.P.,
Tenant
The Site Bounded by Lexington Avenue,
East 58th Street, East 59th Street and Third Avenue,
New York, New York
as of April 30, 2001
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TABLE OF CONTENTS
PAGE
ARTICLE 1 DEMISE, PREMISES, TERM, RENT........................................................................... 28
ARTICLE 2 USE AND OCCUPANCY...................................................................................... 31
ARTICLE 3 ALTERATIONS............................................................................................ 43
ARTICLE 4 REPAIRS-FLOOR LOAD..................................................................................... 58
ARTICLE 5 WINDOW CLEANING........................................................................................ 60
ARTICLE 6 LEGAL AND INSURANCE REQUIREMENTS....................................................................... 61
ARTICLE 7 SUBORDINATION.......................................................................................... 63
ARTICLE 8 RULES AND REGULATIONS.................................................................................. 85
ARTICLE 9 INSURANCE, PROPERTY LOSS OR DAMAGE; REIMBURSEMENT...................................................... 86
ARTICLE 10 DESTRUCTION-FIRE OR OTHER CAUSE....................................................................... 91
ARTICLE 11 EMINENT DOMAIN........................................................................................ 98
ARTICLE 12 ASSIGNMENT, SUBLETTING, MORTGAGE, ETC................................................................. 100
ARTICLE 13 ELECTRICITY........................................................................................... 126
ARTICLE 14 ACCESS TO TENANT AREAS; UNTENANTABILITY............................................................... 129
ARTICLE 15 CERTIFICATE OF OCCUPANCY.............................................................................. 135
ARTICLE 16 DEFAULT............................................................................................... 137
ARTICLE 17 REMEDIES AND DAMAGES.................................................................................. 140
ARTICLE 18 FEES AND EXPENSES..................................................................................... 142
ARTICLE 19 NO REPRESENTATIONS BY LANDLORD........................................................................ 144
ARTICLE 20 END OF TERM........................................................................................... 144
ARTICLE 21 QUIET ENJOYMENT....................................................................................... 145
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ARTICLE 22 CONSTRUCTION OF THE BUILDING AND THE PREMISES......................................................... 145
ARTICLE 23 NO WAIVER............................................................................................. 187
ARTICLE 24 WAIVER OF TRIAL BY JURY............................................................................... 188
ARTICLE 25 BILLS AND NOTICES..................................................................................... 189
ARTICLE 26 ESCALATION............................................................................................ 190
ARTICLE 27 SERVICES.............................................................................................. 209
ARTICLE 28 LIMITATION ON TENANT'S LIABILITY...................................................................... 214
ARTICLE 29 PARKING............................................................................................... 214
ARTICLE 30 CAPTIONS.............................................................................................. 215
ARTICLE 31 PARTIES BOUND......................................................................................... 216
ARTICLE 32 BROKER................................................................................................ 216
ARTICLE 33 INDEMNITY............................................................................................. 216
ARTICLE 34 ADJACENT EXCAVATION-SHORING........................................................................... 219
ARTICLE 35 ADDITIONAL PROVISIONS................................................................................. 220
ARTICLE 36 OPTION SPACE.......................................................................................... 225
ARTICLE 37 RENEWAL TERM.......................................................................................... 234
ARTICLE 38 RENTAL VALUE.......................................................................................... 237
ARTICLE 39 TENANT'S SIGNS........................................................................................ 241
ARTICLE 40 CERTAIN RESTRICTIONS.................................................................................. 245
ARTICLE 41 GOVERNMENTAL INCENTIVES............................................................................... 252
ARTICLE 42 ROOF RIGHTS........................................................................................... 254
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EXHIBITS
Exhibit Definitions-A Comparison Amounts
Exhibit Definitions-B Deliverable Units
Exhibit Definitions-C Land
Exhibit Definitions-D List of Regular Competitors
Exhibit Definitions-E List of Primary Competitors
Exhibit Definitions-F Usable Area
Exhibit Definitions-G Work Exhibit
Exhibit 2.6 Neutral Zone
Exhibit 3.1 Approved Contractors and Architects
Exhibit 3.9 Approved Alterations
Exhibit 7.10 Financial Disclosure Provisions
Exhibit 7.12 Existing Mortgages
Exhibit 12.6 Form of Consent to Sublease
Exhibit 12.8 Form of Consent to Assignment
Exhibit 22.1 Schematic Drawings
Exhibit 22.4 Incremental Area from Prior Building Design
Exhibit 22.6 Construction Milestone Stages
Exhibit 22.8 Existing Leases
Exhibit 26.1 Comparable Properties
Exhibit 26.2 Calculation of Section 421-a Reduction
Exhibit 35.5 Form of Memorandum of Lease
Exhibit 39.1 Tenant's Signs
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AGREEMENT OF LEASE, made as of the 30th day of April, 2001, between
Landlord and Tenant.
W I T N E S S E T H:
The parties hereto, for themselves, their legal representatives,
successors and assigns, hereby covenant as follows:
DEFINITIONS
"AAA" shall mean the American Arbitration Association, or its
successor.
"Abatement Event" shall have the meaning set forth in Section 14.5
hereof.
"Abatement Percentage" shall have the meaning set forth in Section 14.5
hereof.
"Access Tunnel" shall have the meaning set forth in Section 22.1
hereof.
"Actual Tax Amount" shall have the meaning set forth in Section 26.1
hereof.
"Additional Antennae" shall have the meaning set forth in Section 42.1
hereof.
"Additional Antennae Site" shall have the meaning set forth in Section
42.1 hereof.
"Affiliate" shall mean a Person which (1) Controls, (2) is under the
Control of, or (3) is under common Control with, the Person in question.
"Alexander's" shall mean Alexander's Inc., a Delaware corporation.
"Alterations" shall mean alterations, installations, improvements,
additions or other physical changes (other than decorations, such as painting,
wall covering and floor covering) made by or on behalf of Tenant in or about the
Premises (it being understood that the Work shall not constitute Alterations for
purposes hereof).
"Antennae" shall have the meaning set forth in Section 42.2 hereof.
"Antennae Site" shall have the meaning set forth in Section 42.2
hereof.
"Applicable Area" shall have the meaning set forth in Section 38.1
hereof.
"Applicable Date" shall have the meaning set forth in Section 38.1
hereof.
"Applicable Financing" shall have the meaning set forth in Section 7.13
hereof.
"Applicable Financing Term" shall have the meaning set forth in Section