Common use of Basement Space Clause in Contracts

Basement Space. (a) Tenant shall have the right to use the space identified on Exhibit M attached hereto as "200 SQ. FT. FOR TENANT #1 OIL TANK" (the "Basement Space") located on the B-2 level of the Building for the purpose of installing and operating a fuel tank servicing the Generator not to exceed 900 gallons in capacity. Landlord shall make available to Tenant adequate shaft space to accommodate a fuel oil riser running from the Basement Space to the Generator. The installation of the fuel tank shall constitute an Alteration and shall be done in compliance with Article 5 hereof. Landlord shall designate a suitable location for the terminus of the fill and vent lines to connect the fuel tank to the outside of the Building, which fill and vent lines shall be installed at Tenant's sole cost and expense. Notwithstanding anything to the contrary contained herein, Landlord shall not be required to provide any services whatsoever to the Basement Space. Tenant shall be entitled to tap in to the existing lighting circuit for convenience lighting purposes. Tenant shall install and maintain a fire wall between the fuel tank and adjacent equipment in the B-2 level of the Building, a fire-rated ceiling in the Basement Space, and ventilation in accordance with Laws, in each case subject to Landlord's reasonable approval. All electric service shall feed off the supply of electrical energy furnished to the Premises, as provided in Article 3 hereof. Tenant shall maintain the fuel tank in good working order. The installation of the fuel tank shall be subject to the consent of Overlandlord, to the extent required pursuant to the terms of the ▇▇▇▇▇▇▇▇▇. (b) Tenant, at Tenant's expense, shall comply with all Laws relating to Tenant's repair, maintenance and operation of the fuel tank installed by Tenant pursuant to the provisions of this Section. Tenant, at Tenant's expense, shall secure and thereafter maintain all permits and licenses required for the installation and operation of the fuel tank, including, without limitation, any approval, license or permit required from the New York City Fire Department and Department of Buildings. Landlord shall cooperate with Tenant to obtain any such permits licenses at Landlord's actual, out-of-pocket cost. (c) Tenant shall obtain any additional insurance coverage in respect of the fuel tank for the benefit of Landlord in such amount and of such type as Landlord may reasonably require as is customarily obtained for owners of First-Class Office Buildings.

Basement Space. (a) 45.01. Landlord hereby leases to Tenant shall have and Tenant hereby hires from Landlord, for the right to use term hereof, the space identified portion of the Building located on Exhibit M attached the basement floor of the Building as shown hatched on the floor plan annexed hereto as "200 SQ. FT. FOR TENANT #1 OIL TANK" Schedule I and which Landlord and Tenant hereby agree constitutes 880 usable square feet (hereinafter called the "Basement Space") located on upon all the B-2 level terms of the Building for the purpose this Lease as modified by this Article 45. Tenant's occupancy of installing and operating a fuel tank servicing the Generator not to exceed 900 gallons in capacity. Landlord shall make available to Tenant adequate shaft space to accommodate a fuel oil riser running from the Basement Space shall be subject to all of the terms and conditions set forth in the Lease and to the Generator. The installation following additional terms and conditions: (a) Tenant shall accept the Basement in its "as is" condition as of the fuel tank Commencement Date; and Landlord shall constitute an Alteration not be obligated to perform any work or incur any expense to prepare the Basement Space for Tenant's use except that Landlord shall perform asbestos removal in the Basement Space in accordance with Legal Requirements in order to deliver to Tenant a New York City Buildings Department Form ACP-5 with respect to the Basement Space based on Tenant's final plans issued with respect to the Basement Space, within ten (10) Business Days after Landlord shall have approved such plans, and Landlord shall provide and install one lighting fixture in the Basement Space and Landlord shall construct a Building Standard door and walls separating the Basement Space within forty-five (45) days after execution of this Lease and the receipt of the required non-disturbance agreement. (b) Commencing on the Escalation Rent Commencement Date and for the remainder of the term of this Lease, the fixed annual rent set forth in subsection 1.01(b) hereof shall be done in compliance with Article 5 hereof. increased by the annual rate of Four Thousand Four Hundred ($4,400.00) Dollars per annum allocable to the Basement Space and, accordingly, the monthly installments of fixed annual rent shall be increased by the monthly amount of $366.67 per month. (c) Landlord shall designate a suitable location supply electricity to the Basement Space for the terminus lighting fixtures therein. Tenant shall pay to Landlord additional rent for the supply of electricity to the Basement Space for the lighting thereof at the annual rate of Five Hundred ($500) Dollars per annum, which shall be payable in equal monthly installments on the first day of each month in the same manner as prescribed in Article 1 with respect to fixed annual rent from and after the date that Landlord shall have substantially completed the demising wall and door for the Basement Space, without regard to the abatement set forth in subsection 1.01(b) thereof. Such additional rent on account of electricity supplied to the Basement Space shall be subject to increase from time to time in the same percentage as any percentage increase in the rate charged to Landlord for electricity supplied to the Building by the public utility supplying electricity to the Building; (d) Tenant shall make no alterations, installations, additions, or improvements in or to the Basement Space without Landlord's prior written consent and Landlord agrees to give or withhold such consent in accordance with the provisions of Article 6 hereof provided that such proposed alterations or installations in the Basement Space are of a nature which is not inconsistent with office storage areas; (e) Tenant shall use the Basement Space only for the purposes of customary office storage; (f) Tenant may not assign its rights with respect to the Basement Space (except in connection with a permitted assignment of this lease) or sublease the same or allow the same to be used by others (except that the entire Basement Space may be sublet to a permitted subtenant of Tenant of no less than 22,000 rentable square feet of the fill demised premises) without the prior written consent of Landlord; and (g) Except for elevator service and vent lines to connect the fuel tank to the outside of the Building, which fill and vent lines shall be installed at Tenant's sole cost and expense. Notwithstanding anything to the contrary contained hereinelectricity as hereinabove provided, Landlord shall not be required to provide responsible for the rendition or delivery of any services whatsoever or utilities to the Basement Space. Tenant shall be entitled to tap in to the existing lighting circuit for convenience lighting purposes. Tenant shall install and maintain a fire wall between the fuel tank and adjacent equipment in the B-2 level of the Building, a fire-rated ceiling in the Basement Space, and ventilation in accordance with Laws, in each case subject to Landlord's reasonable approval. All electric service shall feed off the supply of electrical energy furnished to the Premises, as provided in Article 3 hereof. Tenant shall maintain the fuel tank in good working order. The installation of the fuel tank shall be subject to the consent of Overlandlord, to the extent required pursuant to the terms of the ▇▇▇▇▇▇▇▇▇. (b) Tenant, at Tenant's expense, shall comply with all Laws relating to Tenant's repair, maintenance and operation of the fuel tank installed by Tenant pursuant to the provisions of this Section. Tenant, at Tenant's expense, shall secure and thereafter maintain all permits and licenses required for the installation and operation of the fuel tankSpace whatsoever, including, without limitation, any approvalwater, license heating, ventilation, air-conditioning, or permit required from the New York City Fire Department and Department of Buildings. Landlord shall cooperate with Tenant to obtain any such permits licenses at Landlord's actual, out-of-pocket costcleaning. (c) Tenant shall obtain any additional insurance coverage in respect of the fuel tank for the benefit of Landlord in such amount and of such type as Landlord may reasonably require as is customarily obtained for owners of First-Class Office Buildings.

Basement Space. (a) A. Subject to the provisions hereinafter set forth, at any time during the term of this Lease, provided this is in full force and effect without default on the part of Tenant in the performance of any of the terms and conditions herein, Tenant shall have the right (the “Expansion Right”) to use lease the basement space identified located below the ▇▇▇▇ ▇▇▇▇▇▇ Ground Floor, as depicted on Exhibit M attached hereto A as "200 SQ. FT. FOR TENANT #1 OIL TANK" “Basement Space” (the "“Basement Space"”) located on upon the B-2 level terms and conditions hereinafter set forth. Tenant shall exercise the Expansion Right by delivering notice to Landlord thereof (the “Expansion Notice”), which notice shall specify the date upon which Tenant shall take possession of the Building for the purpose of installing and operating a fuel tank servicing the Generator not to exceed 900 gallons in capacity. Landlord shall make available to Tenant adequate shaft space to accommodate a fuel oil riser running from the Basement Space (the “Basement Space Possession Date”), which date shall not be less than thirty (30) days, nor more than ninety (90) days, after Landlord receives the Expansion Notice. B. Effective as of the Basement Space Possession Date (as set forth in the Expansion Notice) or the Basement Delivery Date (as defined below) if Tenant sends Landlord the Tenant’s Notice (as defined below): (i) Landlord leases to Tenant and Tenant hires from Landlord the Basement Space and Tenant’s use and occupancy of the Basement Space and its obligations with respect thereto shall be in accordance the terms, provision, conditions and agreements contained in this Lease, except as otherwise expressly set forth in this Article 78 to the Generator. The installation contrary; (ii) this Lease shall be deemed amended to include the Basement Space as part of the fuel tank shall constitute an Alteration and Demised Premises for the balance of the term of this Lease; (iii) all references in the Lease to “premises” or “Demised Premises” or “demised premises” shall be done deemed to include the Basement Space as of the Basement Space Possession Date or the Basement Delivery Date, as applicable, (iv) Tenant shall pay fixed annual rent on the Basement Space as set forth in compliance with Article 5 hereof. Landlord subparagraph 78.D below; (v) Tenant’s Percentage and Tenant’s Operating Cost Share shall designate a suitable location be deemed to be (a) 13.60% if Tenant is operating the Demised Premises pursuant to Use Plan A, or (b) 13.00% if Tenant is operating the Demised Premises pursuant to Use Plan B, and (vi) all of the Additional Rent payable under this Lease, including but not limited to Real Estate Taxes and charges for electricity shall also be payable for the terminus of the fill and vent lines to connect the fuel tank to the outside of the Building, which fill and vent lines Basement Space. C. The Basement Space shall be installed at Tenant's sole cost and expensedelivered to Tenant on the Basement Possession Date (or the Basement Delivery Date, as applicable) in its then “as-is”, “where-is” condition, with all faults. Notwithstanding anything to the contrary contained herein, Landlord shall not be required to provide make any services whatsoever repairs or perform any work with respect to the Basement Space in order to prepare the Basement Space for Tenant’s initial or continued occupancy or to provide any work allowance, free rent period or other concession in connection with Tenant’s occupancy of the Basement Space. D. If Tenant exercises the Expansion Right (or if Tenant sends Landlord the Tenant’s Notice electing to lease the Basement Space pursuant to the provisions of Article 78.E below), commencing on the Basement Space Possession Date (or the Basement Delivery Date, as applicable), the Fixed Annual Rent shall be increased for the balance of the term by an amount equal to Seventy-Five Thousand Dollars and 00/100 ($75,000.00) per annum (the “Basement Space Rent”), which shall be payable in equal monthly installments of Six Thousand Two Hundred Fifty and 00/100 Dollars ($6,250.00). Each monthly installment shall be due in advance, on the first (1st) day of each and every calendar month throughout the balance of the term of this Lease. E. Notwithstanding the foregoing, at any time prior to Tenant exercising the Expansion Right, Landlord shall have the right to market the Basement Space and to offer to lease the Basement Space to another tenant or occupant, provided, however, that prior to entering into a lease or other agreement with such tenant or occupant for the Basement Space, Landlord shall send written notice to Tenant (the "Landlord's Notice") notifying Tenant of Landlord’s intention to lease or otherwise allow another person or entity occupy the Basement Space and the date upon which such possession will be given to such other tenant or occupant (the “Basement Delivery Date”), in which event, Tenant shall be entitled have ten (10) Business Days from receipt of Landlord's Notice to tap in notify Landlord of its election to lease the existing lighting circuit for convenience lighting purposes. Tenant shall install and maintain a fire wall between the fuel tank and adjacent equipment in the B-2 level Basement Space (time being of the Buildingessence with respect thereto) (the “Tenant’s Notice”). Tenant’s delivery of Tenant’s Notice shall be a binding and irrevocable obligation of Tenant to take possession of the Basement Space on the Basement Delivery Date and continuing for the balance of the Term, which use and occupancy shall be in accordance with the provisions of Article 78.B, C and D set forth above. Tenant's election to not lease the Basement Space after receipt of Landlord’s Notice, or the failure of Tenant to notify Landlord of its election to lease the Basement Space by sending Landlord the Tenant’s Notice within such ten (10) Business Day period shall be deemed a fire-rated ceiling in waiver of Tenant’s right to lease the Basement Space, and ventilation in accordance with Laws, in each case subject Landlord shall thereafter be free to Landlord's reasonable approval. All electric service shall feed off the supply of electrical energy furnished to the Premises, as provided in Article 3 hereof. Tenant shall maintain the fuel tank in good working order. The installation dispose of the fuel tank Basement Space in any manner it choose and Tenant’s Expansion Right shall be subject to deemed null and void and of no further force or effect for the consent of Overlandlord, to the extent required pursuant to the terms remainder of the ▇▇▇▇▇▇▇▇▇term of this Lease. (b) F. Landlord and Tenant, at Tenant's expenseeither party’s request, shall comply with all Laws relating promptly execute and exchange an appropriate amendment to Tenant's repair, maintenance and operation this Lease evidencing the addition of the fuel tank installed by Tenant pursuant Basement Space, and the terms thereof, in a form reasonably satisfactory to both parties, but no such agreement shall be necessary in order to make the provisions of this Section. Tenant, at Tenant's expense, shall secure and thereafter maintain all permits and licenses required for the installation and operation of the fuel tank, including, without limitation, any approval, license or permit required from the New York City Fire Department and Department of Buildings. Landlord shall cooperate with Tenant to obtain any such permits licenses at Landlord's actual, out-of-pocket costhereof effective. (c) Tenant shall obtain any additional insurance coverage in respect of the fuel tank for the benefit of Landlord in such amount and of such type as Landlord may reasonably require as is customarily obtained for owners of First-Class Office Buildings.