DATED 24th April 1996 - and -

Exhibit 10.20

DATED 24th April 1996

(1) CLIPPER INVESTMENTS LIMITED

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(2) INTERNATIONAL PETROLEUM EXCHANGE OF LONDON LIMITED

Penningtons
SOLICITORS

[Graphics of Plan 1, Plan 2 and Plan 3]

THIS LEASE dated 24th April 1996 is made between the following parties:

1. DEFINITIONS

In this Lease where the context allows:-

1.1 “Building” means the land and buildings known as International House London El and for the purpose of identification only edged red on plan 1

1.2 “Premises” means the premises known as Secondary Reception (WTC/Q/W (Part): 2.18.1) on the Quay Level of the Building for the purpose of identification only shown edged red on plan 2 and described (for the purpose of obligation as well as grant) in Part 1 of the First Schedule

1.3 “Letting Unit” means an individual office suite or other unit of accommodation in the Building (other than any accommodation provided for a ▇▇▇▇▇▇ or caretaker) that is let or available for letting or otherwise exclusively occupied (or intended for jetting or exclusive occupation) otherwise than solely in connection with the management of the Building or the provision of services to the Building

1.4 “Conduits” means all cisterns tanks water and supply pipes (including gas and oil pipes) gutters sewers drains soil pipes waste pipes watercourses culverts soakaways ducts conduits flues tubes and other conducting media and also wires and cables and optic fibres used for the transmission of electric current television radio telephonic telegraphic and other telecommunications and electronic signals and all fixings louvres cowls covers meters and other ancillary equipment or structures

1.5 “Common Parts of the Building” means all footpaths yards halls passageways fire escapes staircases lifts landings and any other areas in the Building which are from time to time during the Term provided by the Landlord for use in common by the tenants and occupiers of the Building and all persons expressly or by implication authorised by them

1.6 “Retained Property” means all parts of the Building which are not from time to time Letting Units including (without prejudice to the generality of the foregoing):

1.7 “the Estate” means the estate known as St Katharine’s Dock the present extent of which is shown for identification only edged and hatched red on plan 3 including without prejudice to the generality thereof

1.8 “Annual Rent” means the yearly rent payable from time to time by virtue of Clause 2.4.1

1.9 “Rent Payment Days” mean respectively 25th March 24th June 29th September and 25th December in each year

1.10 “Service Charge” means the service charge calculated and payable in accordance with the Second Schedule

1.11 “service hours” means the hours beginning at 8 a.m. and ending at 6 p.m. on each day from Monday to Friday inclusive but excluding bank public or other national holidays or such other hours which the Landlord shall from time to time notify to the Tenant

1.12 “Interest” except where otherwise expressly stated means interest at the rate of 4% per annum above the base rate for the time being of National Westminster Bank Plc (or the base rate for the time being of such other London Clearing Bank as the

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Landlord designates for the purpose) or if there is no such base rate then such other comparable rate of interest specified by the Landlord from time to time

1.13 “Planning Acts” means the Town & Country Planning ▇▇▇ ▇▇▇▇ the Planning (Listed Buildings and Conservation Areas) ▇▇▇ ▇▇▇▇ the Planning (Hazardous Substances) ▇▇▇ ▇▇▇▇ and the Planning (Consequential Provisions) ▇▇▇ ▇▇▇▇ and all statutes containing provisions relating to town and country planning from time to time in force and all other statutes statutory instruments regulations rules and orders and directions included by virtue of Clause 6.11.11

1.14 “VAT” means value added tax the tax as constituted by the Value Added Tax ▇▇▇ ▇▇▇▇ or any other similar tax imposed in addition to or in substitution (and unless otherwise expressly stated all references to rent or other monies payable by the Tenant are exclusive of any VAT charged or chargeable thereon)

1.15 “1954 Act” means the Landlord and ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇

1.16 “1995 Act” means the Landlord and Tenant (Covenants) ▇▇▇ ▇▇▇▇

1.17 “Group Company” means another company which is a member of the same group within the meaning of Section 42 of the 1954 Act (“the Group Company”) and “member of a group” has the meaning given by that section

1.18 “Connected Party” means a party which (in a case where the Tenant is a company) is a director shareholder or fellow Group Company of the Tenant or (in a case where the Tenant comprises individuals carrying on business in partnership) a partner in the Tenant

1.19 “Rents” means any of the rents reserved by Clause 2.4

1.20 “Adjoining Premises” means the premises on the Quay Level West in the Building demised by the Resident Member’s Agreement made between (1) St Katharine By The Tower Limited and (2) Aegis Insurance Services (Group) Limited on 2 December 1983

2. DEMISE AND RENT

2.1 The Landlord DEMISES the Premises to the Tenant TOGETHER WITH the rights set out in Part 2 of the First Schedule EXCEPTING AND RESERVING as set out in Part 3 of the First Schedule

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2.2 TO HOLD the Premises to the Tenant from and including 1st March 1996 (“the Term Commencement Date”) for a term of years expiring on 24 December 2008 (determinable as provided in Clause 6.12)

2.3 Subject to the matters more particularly referred to in Part 4 of the First Schedule

2.4 YIELDING AND PAYING to the Landlord during the Term without any deductions or set off:

2.5 If any rent or any other sum due under this Lease is unpaid for more than fourteen days (whether formally demanded or not in the case of rent due under Clause 2.4.1) the Tenant must pay Interest calculated on a daily basis on the amount unpaid from the date on which it was due until the date on which payment is made and to be payable to the Landlord on demand and recoverable as rent in arrear

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2.6 If the Landlord refuses to accept any rent or any other sum so as not to waive any existing breach the Tenant must pay Interest calculated on a daily basis on the amount refused or unpaid from and including the date on which it was due to the date when payment is accepted by the Landlord and to be payable on demand and recoverable as rent in arrear

3. RENT REVIEW

3.1 The Annual Rent will be increased in accordance with this Clause 3

3.2 The expression “rent review date” means 1st March 2001 and each succeeding fifth anniversary of such day and the expression “relevant review date” is to be construed accordingly

3.3 With effect from each rent review date the Annual Rent will be the greater of:

3.4 For the purposes of this Clause 3 the expression “the Open Market Rent” means the best yearly rent at which the Premises might be expected to be let at the rent review date on the open market by a willing landlord to a willing tenant being the rent payable following the expiry of a rent free period of such length as would be negotiated in the open market

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3.5 The Landlord and the Tenant may agree the amount of the Open Market Rent at any time but if it has not been agreed by the relevant rent review date the Landlord or the Tenant may at any time thereafter require the Open Market Rent to be determined by an independent Chartered Surveyor experienced in the letting and valuation of office premises (“the Surveyor”)

3.6 The Surveyor may be appointed by agreement between the Landlord and the Tenant but in default of such agreement within a period of one month is to be appointed on the application of either party (who must notify the other party of that application) by the President or other chief officer or acting chief officer for the time being of the Royal Institution of Chartered Surveyors (“the President”) BUT if for any reason the President is unable or unwilling to make that appointment then by a senior officer of that institution or another professional body of surveyors which the Landlord designates and any reference to the President includes a reference to such chief officer or acting chief officer or other officer

3.7 Notice of the Surveyor’s appointment is to be given by the Surveyor to the Landlord and Tenant

3.8 The Surveyor agreed or appointed is to act as an arbitrator under the provisions of the Arbitration Acts 1950 to 1979

3.9 If the Surveyor relinquishes his appointment or dies or if it becomes apparent that for any reason he will be unable to complete his duties the Landlord or the Tenant may apply to the President in accordance with Clause 3.6 for a substitute to be appointed in his place which procedure may be repeated as many times as necessary

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3.10 The fees of the Surveyor shall be payable by the Landlord and the Tenant in such proportions as the Surveyor determines

3.11 If the amount of the Annual Rent has not been agreed or determined by the relevant rent review date:–

3.12 If rent restrictions prevent or prohibit the Landlord (whether in whole or in part) from exercising its rights under this Clause and/or obtaining an increase in the rent on the relevant rent review date (increase in this context meaning such increase as would he obtainable disregarding the rent restrictions) the date at which the rent review would otherwise have taken effect shall be extended to permit and require the rent review to take place on the first day upon which this right may be exercised and/or increase obtained in whole or in part and when in part on so many occasions as is necessary to obtain the whole increase notwithstanding that the rent may have been increased in part on or since the last rent review date PROVIDED ALWAYS that the provisions of this Clause 3.12 shall not prejudice the right of the Landlord to review the Annual Rent on the relevant rent review date

3.13 A memorandum of the amount of the Annual Rent as and when agreed or determined from time to time shall be signed by or on behalf of the Landlord and the Tenant and attached to the Lease and Counterpart

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3.14 Time is not of the essence with regard to any of the periods of time referred to in this Clause 3

TENANT’S COVENANTS

4. The Tenant COVENANTS with the Landlord:–

To Pay Rent

4.1 To pay the rents and Interest at the times and in the manner stated without any deduction or set off

4.2 To Pay Outgoings

To Repair

4.3 At all times during the Term (whether or not the Landlord has served notice requiring the Tenant so to do) to keep the Premises in good and substantial repair and condition appropriate to the standard expected of a high class office building in the City of London (except where damage results from any of the risks against which the Landlord has insured under Clause 5.2 unless payment of any of the insurance moneys are refused by reason of any act neglect or default of the Tenant)

To Redecorate

4.4 Without prejudice to Clause 4.3 at all times during the Term to keep the Premises in good decorative condition appropriate to the standard expected of a high class office building in the City of London and

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Fixtures and Fittings and Cleaning

4.5 Without prejudice to Clause 4.3

To Yield Up

4.6 At the end of the Term:

Condition at End of Term

4.7 If at the end of the Term the Premises are not in the state and condition in which they should be having regard to the Tenant’s obligations the Tenant must (if required by the Landlord) pay to the Landlord on demand as a debt due to the Landlord

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such sum as is certified by the Landlord’s surveyor to represent in its opinion the aggregate of

Tenant’s Possessions

4.8 If following the end of the Term any of the Tenant’s possessions remain on the Premises and the Tenant fails to remove them within seven days after being requested in writing by the Landlord to do so:

4.9 To repair on notice

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To permit entry for repair etc

4.10 To permit the Landlord and the tenants and occupiers of any adjoining or neighbouring premises with or without workmen together with any necessary materials tools or other equipment at reasonable hours and upon giving reasonable notice (except in emergency) to enter the Premises for any of the following purposes:-

the person so entering doing as little damage and causing as little interference as practicable and making good in a reasonable manner all damage caused to the Premises as quickly as reasonably practicable to the reasonable satisfaction of the Tenant

To pay costs

4.11 To pay to the Landlord within fourteen days of demand on an indemnity basis all costs charges fees and other expenses (including legal costs and surveyor’s and other

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professional fees) properly incurred by the Landlord (or which otherwise would be payable by the Landlord) in contemplation of or in connection with or arising out of

and in relation to any of the above matters the Landlord is entitled to charge a reasonable fee for any work done by the Landlord itself by any associated or subsidiary company of the Landlord or by its or their employees

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PROVIDED that the Tenant acknowledges that nothing in this Lease nor any approval or consent given by the Landlord now or at any time during the Term shall imply represent or warrant that the Premises may be lawfully used for any particular use under the Planning Acts or any other statute

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4.15 To comply with the Planning Acts

To comply with statutes

4.16 Without prejudice to Clause 4.15:

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4.17 Encroachments

4.18 Alienation

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Not to cause nuisance

4.23 Not to do at the Premises or in any other part of the Building and/or the Estate anything which may be or become a nuisance annoyance damage or disturbance to the Landlord its tenants or the owners or occupiers of any adjoining or neighbouring premises

Not to overload

4.24 Not to overload the structure of the Premises and in particular:

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Not to overload services

4.26 In relation to the electrical gas or heating systems in the Premises not to:

Cleaning

4.27 To employ in relation to the Premises only those office or window cleaners approved by the Landlord such approval not to be unreasonably withheld or delayed

4.28 Common Parts of the Building

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Defective Premises

4.29 To give notice immediately to the Landlord upon becoming aware of the same of any defect in the Premises or the Building which might give rise to a liability or duty on the Landlord under this Lease the Defective Premises Act 1972 or otherwise and to display all notices which the Landlord may reasonably require

Regulations

4.31 VAT

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Rateable Occupation

4.32 At all times during the last year of the Term to keep the whole of the Premises in rateable occupation and to keep the Landlord indemnified against all general business and other rates payable by the Landlord for any part of the period of three months immediately following the end of the Term by reason of any breach of this Clause 4.32

Indemnity

4.33 During the Term and any subsequent period during which the Tenant may remain in possession of the Premises to be responsible for and to indemnify the Landlord against all losses claims demands actions proceedings liabilities costs charges and expenses resulting directly or indirectly from:

Covenants

4.34 To comply with all restrictive and other covenants and provisions affecting the Premises at the date hereof and in particular (but without prejudice to the generality of the foregoing) the matters contained in or referred to in the documents set out in Part 4 of the First Schedule so far as the same are still subsisting and capable of taking effect

LANDLORD’S COVENANTS

5. The Landlord COVENANTS with the Tenant:–

Quiet Environment

5.1 (Subject to the Tenant paying the rents and other sums due and complying with its obligations under this Lease) to permit the Tenant to hold the Premises peaceably for the Term without any interruption by the Landlord or any person lawfully claiming under or in trust for it

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Insurance

5.2 To insure (unless the insurance is vitiated by any act neglect or default of the Tenant):

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Reinstatement

5.3 If and whenever the Premises are damaged or destroyed by any of the risks against which the Landlord is obliged to insure or has insured when lawful to do so to apply all insurance moneys received (other than in respect of loss of Annual Rent Service Charge and third party liability) towards reinstating so far as practicable the Premises (but subject to the Tenant’s compliance with the provisions of Clause 4.21) PROVIDED that if any national local public or other authority lawfully refuses permission or otherwise lawfully prevents reinstatement the insurance monies (so far as unapplied) shall be retained by the Landlord

Repair

PROVISOS AND AGREEMENTS

6. The parties agree that:–

Re-entry

6.1 If and whenever during the Term:

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the Landlord may enter the Premises (or any part of it) at any time thereafter even if a previous right of re-entry has been waived and upon that entry the Term will end (but without prejudice to any right of action which has accrued to the Landlord for breach of any of the provisions of the Lease including the breach under which the re-entry is made)

Suspension of Rent

6.2 If the Premises or any part are damaged or destroyed by any of the risks insured against by the Landlord so as to be unfit for occupation or use and save to the extent that the insurance is vitiated or payment of the insurance moneys refused wholly or in part through any act neglect or default of the Tenant the Annual Rent or a fair proportion according to the nature and extent of the damage sustained will cease to payable for a period of four years from the date of damage or destruction or until the Premises are again fit for occupation or use by the Tenant whichever is the shorter period

Landlord’s Liability

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6.4 Adjoining Premises

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Disputes

6.5 Any dispute between the Tenant or any occupier of the Premises and the occupiers of adjoining or neighbouring premises belonging to the Landlord (whether or not part of the Building) concerning any right or privilege in connection with the Premises or those adjoining or neighbouring premises or concerning any boundary structure or facility used in common shall be decided by the Landlord whose decision shall be binding on the Tenant

     Where under the provisions of this Lease the Landlord gives consent or licence or enters into any collateral or supplemental agreement with the Tenant (“a Supplemental Agreement”) the parties acknowledge that in so far as the Supplemental Agreement does not constitute a relevant variation for the purposes of Section 18 of the 1995 Act the Tenant must procure that any party who is a guarantor of the Tenant’s obligations under the Lease and is a Connected Party joins in the Supplemental Agreement and that where the Supplemental Agreement is a relevant variation for the

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purposes of Section 18 the Landlord may require that party to enter into the Supplemental Agreement as a condition of agreeing to it

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The Tenant acknowledges that it has not entered into this Lease in reliance wholly or partly on any representation or warranty made by or on behalf of the Landlord and the Landlord gives no title guarantee

Interpretation

6.11 In this Lease where the context allows:

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Determination

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Exclusion of the 1954 Act

GUARANTOR’S COVENANT

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Landlord’s prior claim

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THIS LEASE has been executed as a Deed and delivered on the day on which it has been dated

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THE FIRST SCHEDULE
PART 1
The Premises

1. The Premises include: -

1.1 The internal plaster tile and other surface finishes and internal plaster work of (i) the walls in or bounding the Premises and (ii) all columns

1.2 all doors and windows including the glass and frames

1.3 the internal non structural walls and partitions lying within the Premises

1.4 the ceilings plastered coverings or other surface finishes of the Premises up to the underside of the joists or other structures to which the ceilings are fixed including for the avoidance of doubt the suspended ceilings which shall comprise the ceiling tiles and the complete suspension system

1.5 the floorboards and other surfaces of the floors including all carpets and coverings thereof down to the upper surface of the joists or structures to which the floors are fixed

1.6 any steps lying within the boundaries of the Premises

1.7 all Conduits which serve the Premises exclusively

1.8 any terraces and balastrades serving only the Premises

1.9 all gas electrical mechanical and water and sanitary apparatus belonging exclusively to the Premises and all other fixtures and fittings in the Premises (other than tenants fixtures and fittings) not excluded by Paragraph 2

2. The Premises do not include:-

2.1 any part of the Building (other than any matters expressly included by Paragraph 1) lying above the underside of the joists or structures to which the ceilings are fixed or below the upper surfaces of the joists or structures to which the floors are fixed

2.2 any of the main timbers and joists and other load bearing parts of the Building or any of the external or structural walls or load bearing columns in the Building except those surface finishes and coverings staircases windows and doors expressly included by Paragraph 1

2.3 any Conduits in the Building which do not serve the Premises exclusively

2.4 concrete floor slabs of any terraces

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3. Any internal non structural walls separating the Premises from the remainder of the Building are party walls severed vertically

PART 2
Rights granted to the Tenant

1. The right of free passage and running of water soil gas electricity telecommunications and other services from and to the Premises by and through the Conduits in or under or upon the remainder of the Building or the Estate such right to be so far as necessary for the enjoyment of the Premises and in common with the Landlord and all others so authorised by the Landlord and all others entitled thereto and subject to the exceptions and reservations contained in Part 3 of the First Schedule

2. The right in common with the Landlord and all others so authorised by the Landlord and with other tenants of Letting Units to use:-

PART 3
Rights Reserved to the Landlord

EXCEPTING AND RESERVING to the Landlord and the persons deriving title under it:-

1. The free passage of water soil gas electricity telecommunications and other services from the remainder of the Building and any adjoining or neighbouring premises through the Conduits constructed for such purpose now or at any time running through or under the Premises

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2. The right at all reasonable times to enter the Premises subject to giving reasonable previous notice (except in emergency) for the purpose of:

the Landlord or other persons entering exercising such rights in a reasonable manner causing as little interference as practicable and making good all damage to the Premises

3. The right at any time to build on rebuild or alter any parts of the remainder of the Building or any adjoining or neighbouring premises within the Estate according to such plans (whether as to height extent or otherwise) and in such manner as the Landlord decides even though this may interfere with the access of light or air to the Premises but not so that the Premises are made incapable of beneficial use

4. The right to use the remainder of the Building or any adjoining or neighbouring premises within the Estate for any purpose whatsoever and without imposing upon the Building or any adjoining or neighbouring premises any restrictions or conditions similar to those imposed upon the Tenant

5. The right to erect scaffolding for the purpose of repairing maintaining cleansing or altering the Building or any adjoining or neighbouring premises even though this may temporarily interfere with the access to or the use and enjoyment of the Premises

6. All rights of light air support protection and shelter and all other easements and rights now or after the date of this Lease belonging to or enjoyed by any parts of the Building or any adjoining or neighbouring premises (but without prejudice to those expressly granted to the Tenant in Part 2 of this Schedule)

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7. All rights of way through the escape routes in the Premises for all persons in the Building in the event of fire or other emergency or fire practice including but without prejudice to the generality of the foregoing a minimum clear escape width of 1.8 meters maintained between [lobby RQ.5 shown edged in green on Plan 2 and the external exit doors of the Premises]

8. All rights of way through the Premises to or from the Common Parts of the Building in favour of the users and occupiers of the Adjoining Premises

9. The right to retain without obscured view or incorrect orientation a security camera or cameras in the Premises in accordance with Clause 4.23

PART 4

The Lease of the Building dated 7 December 1993 made between (1) St Katharine By The Tower Limited (2) the Landlord (3) Enfranchise 146 Limited

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THE SECOND SCHEDULE
The Service Charge

PART 1

1. Certificate of Service Charge

1.1 The amount of the Service Charge must be ascertained and certified annually by a certificate (“the Certificate”) signed by or on behalf of the Landlord or by its surveyors or accountants as soon after the end of the financial year as may be practicable

1.2 The expression “the financial year” means the period from 1st January to 31st December (both days inclusive) or such other annual period as the Landlord in its reasonable discretion from time to time determines as being that for which the accounts of the Landlord either generally or relating to the Building are made up

1.3 A copy of the Certificate for each such financial year must be supplied by the Landlord to the Tenant

1.4 The Certificate must contain a fair summary of the Building Expenses during the financial year to which it relates and the Certificate (or a duly certified copy) will be conclusive evidence of the matters which it purports to certify other than as regards manifest errors

1.5 For the purpose of this Schedule the expression “the Building Expenses” means the total costs fees expenses and outgoings properly incurred by the Landlord relating to the services referred to in Part 2 of this Schedule (“the services”) together with any provision for anticipated expenditure for the future provision of any of the items referred to in Part 2 which the Landlord in its discretion considers appropriate

1.6 For the purpose of this Schedule the expression “the Site Service Charge” means the aggregate of the costs fees expenses and outgoings properly incurred by the Landlord relating to the services referred to in Part 3 of this Schedule together with any provision for anticipated expenditure for the future provisions of any of the items referred to in Part 3 which the Landlord in its discretion considers appropriate

2. Tenant’s share of Service Charge

2.1 The amount of Service Charge payable by the Tenant will be a fair and proper proportion of the Building Expenses having regard to:

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3. Advance Payment

3.1 The Tenant must pay to the Landlord a reasonable sum to be notified by the Landlord on account of the Service Charge for the period to 31st December next by quarterly instalments on the Rent Payment Days the first payment being made on the date of this Lease

3.2 Thereafter the Tenant must pay such sum (“the advance payment”) on account of the Service Charge for each subsequent financial year as the Landlord acting reasonably from time to time specifies at its discretion to be fair and reasonable

3.3 The advance payment must be paid to the Landlord in advance by equal quarterly instalments on the Rent Payment Days

4. Balancing Payment

As soon as practicable after the end of each financial year the Landlord must give to the Tenant a statement of the Service Charge payable by the Tenant for that year together with a copy of the Certificate due credit being given in such statement for the advance payment made by the Tenant and the Tenant must within 14 days pay to the Landlord the Service Charge or any balance found payable or there shall be allowed by the Landlord to the Tenant any amount which may have been overpaid by the Tenant by way of advance payment as the case may require PROVIDED ALWAYS:-

4.1 That the Service Charge is to be duly apportioned for the period from the Term Commencement Date to the ensuing 31st December

4.2 That any omission by the Landlord to include in the Building Expenses or the Certificate for any financial year a sum expended or a liability incurred in that year shall not prevent the Landlord from including such sum or the amount of such liability in the Building Expenses or the Certificate in any subsequent financial year

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4.3 That the provisions of this Schedule will continue to apply notwithstanding the end of the Term but only for the period expiring at the end of the Term

PART 2
The Building Expenses

1. The maintenance repair renewal replacement rebuilding redecoration cleaning and (where appropriate) lighting and heating of the Retained Property

2. The provision maintenance repair and replacement of all receptacles tools appliances materials and other things which the Landlord reasonably considers necessary or desirable for the general management security maintenance upkeep or cleanliness of the Retained Property

3. The cost of providing inspecting servicing maintaining repairing overhauling and replacing all electrical and mechanical equipment and other apparatus plant and machinery in the Retained Property

4. The provision maintenance repair and replacement of all planting landscaping furniture signs notices fixtures fittings and furnishings in the Common Parts of the Building which the Landlard in its discretion considers appropriate

5. The cost of supply of all electricity gas oil fuel or other power for all purposes in connection with the Retained Property

6. The cost of complying with the obligations contained in Clause 5.4 of this Lease

7. All refuse disposal costs relating to the Building not the responsibility of an individual Tenant

8. The cost of insuring the Building including:-

8.1 insurance effected in accordance with Clause 5.2 of this Lease (where this is not recovered directly from an individual tenant) together with any insurance effected against loss of Service Charge

8.2 insurance effected in relation to any fixtures fittings furnishings machinery or equipment in the Retained Property

8.3 the cost of obtaining or carrying out valuations or revaluations of the Building for insurance purposes

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9. Any general or business rates or water rates taxes duties outgoings and impositions imposed or payable on or relating to the Building which are not the liability of any individual tenant

10. The employment of a ▇▇▇▇▇▇ or other caretaking or security staff and other staff (whether or not such staff are employed directly by the Landlord) for the Building including (but without limitation):

11. All costs relating to the safety and security of the Building (which the Landlord acting reasonably considers necessary or desirable and are not the responsibility of an individual tenant) together with the provision maintenance repair replacement and cleaning of any equipment provided for that purpose (including without prejudice to the generality of the foregoing):-

12. The amount which the Landlord shall properly be required to pay as a contribution towards the expense of making repairing maintaining rebuilding and cleaning anything used by the Building in common with other adjoining or neighbouring premises including Conduits roads ways pavements walls fences and structures

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13. Any expenses properly incurred by the Landlord in or in connection with complying with the provisions of any statute in force or now or at any time during the Term affecting the Building

14. Any other costs and expenses properly and reasonably incurred by the Landlord and their surveyors or managing agents in connection with the general supervision management provision of other services and amenities and maintenance of the Building not otherwise specifically mentioned in this part of this Schedule

15. A reasonable and proper proportion of the Site Service Charge

16. VAT chargeable on any of the Building Expenses to the extent that this is not otherwise recoverable by the Landlord

17. The proper fees and expenses of the Landlord’s surveyors managing agents or other professional advisers incurred in connection with the management of the Building and the matters referred to in this Schedule not recoverable from any individual tenant together with (where the Landlord does not retain managing agents and / or other independent professional advisers providing the services of managing agents for the Building) a sum equal to 10% of the Building Expenses other than this paragraph 17

PART 3
The Site Service Charge

1. The maintenance repair renewal replacement rebuilding redecoration cleaning and (where appropriate) lighting and heating of the Estate

2. The provision maintenance repair and replacement of all receptacles tools appliances materials and other things which the Landlord or any superior landlord reasonably considers necessary or desirable for the general management security maintenance upkeep or cleanliness of the Estate

3. The cost of providing inspecting operating servicing maintaining repairing overhauling and replacing all electrical and mechanical equipment and other apparatus in the Estate

4. The provision maintenance repair and replacement of all planting landscaping furniture signs notices fixtures fittings and furnishings in the Estate which the Landlord in its discretion considers appropriate

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5. The cost of supply of all electricity gas oil fuel or other power for all purposes in connection with the Estate

6. All refuse disposal costs relating to the Estate not the responsibility of an individual tenant

7. The cost of insuring the Estate including:-

8. Any general or business rates or water rates taxes duties outgoings and impositions imposed or payable on or relating to the Estate which are not the liability of any individual tenant

9. The employment of a ▇▇▇▇▇▇ or other caretaking or security staff a lockkeeper and other staff (whether or not such staff are employed directly by the Landlord or any superior landlord) for the Estate including (but without limitation):

10. All costs relating to the safety and security of the Estate (which the Landlord or any superior landlord acting reasonably considers necessary or desirable and are not the responsibility of an individual tenant) together with the provision maintenance repair

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replacement and cleaning of any equipment provided for that purpose (including without prejudice to the generality of the foregoing):-

11. The amount which any superior landlord or the Landlord shall properly be required to pay as a contribution towards the expense of making repairing maintaining rebuilding and cleaning anything used by the Estate in common with other adjoining or neighbouring premises including Conduits roads ways pavements walls fences and structures

12. Any expenses incurred by any superior landlord or the Landlord in or in connection with complying with the provisions of any statute in force or now or at any time during the Term affecting the Estate

13. Any other costs and expenses properly and reasonably incurred by any superior landlord or the Landlord and their surveyors or managing agents in connection with the general supervision management and maintenance of the Estate not otherwise specifically mentioned in this part of this Schedule

14. VAT chargeable on the Site Service Charge to the extent that this is not otherwise recoverable by the Landlord

15. The proper fees and expenses of any superior landlord or the landlord’s surveyors managing agents or other professional advisors incurred in connection with the management of the Estate and the matters referred to in this Schedule not recoverable from any individual tenant together with (where the Landlord does not retain managing agents for the Estate) a sum equal to 10% of the Site Service Charge other than this paragraph 15

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THE THIRD SCHEDULE
Regulations

Director

Secretary

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