Common use of Commencement of Term Clause in Contracts

Commencement of Term. Section 2.01. The term of this Lease and the payment of minimum rent hereunder shall commence on the Commencement Date. Landlord shall deliver possession of the Demised Premises on or before the Commencement Date. Landlord shall have no obligation to perform any work in connection with preparing the Demised Premises for Tenant's occupancy. Promptly following the date hereof, Landlord, at its expense, shall perform the following work: (i) install appliances (items to be furnished by Tenant at its expense), (ii) furnish and install building standard window treatment, (iii) furnish and install building standard sink, and (iv) furnish and install remaining doors as shown on prebuilt plan. If all of such work has not been substantially completed within forty-five (45) days following the date hereof, then Tenant shall be entitled to an additional abatement of the minimum rent equal to one (1) day for each one (1) business day thereafter until such work has been substantially completed. Landlord's work shall be deemed to be substantially completed where all of Landlord's work, except for minor details or adjustments, none of which materially interfere with Tenant's use of the Demised Premises, have been completed. Section 2.02. Tenant has fully inspected the Demised Premises, is familiar with the condition thereof and agrees to accept possession of the same on the Commencement Date in its then "As Is" condition, except for the substantial completion of Landlord's work as set forth in Section 2.01. Section 2.03. If, prior to the Commencement Date, subject to Landlord's consent, Tenant shall enter the Demised Premises to make any installations, Landlord shall have no liability or obligation for the care or preservation of Tenant's property, except if due to the negligence of Landlord, its agents, contractors, invitees and employees. Section 2.04. Promptly after the Commencement Date upon the request of Landlord, Landlord and Tenant shall execute a statement confirming the agreed upon Commencement and Expiration Dates of this Lease, in accordance with the foregoing provisions.

Commencement of Term. Section 2.01. The term Term of this Lease Lease, and Tenant’s obligation to pay rent, shall commence (hereinafter “Commencement Date”) on the payment first to occur of minimum rent hereunder the following events: (a) the date which is two hundred seventy (270) days after the Landlord, or the Landlord’s supervising architect, or other agent so authorized in writing by Landlord, notifies the Tenant that the pad upon which the Premises is to be constructed is ready for delivery to Tenant (hereinafter “Notice of Substantial Completion”); or (b) the date on which the Tenant shall open the Premises for business to the public. Tenant shall construct a building and all other improvements to be constructed by Tenant pursuant to Exhibit B hereof and occupy the Premises within two hundred seventy (270) days after the date of the Notice of Substantial Completion, and shall thereafter continuously operate and conduct in the Premises the Permitted Use (hereinafter defined). In the event that the Commencement Date does not occur on the first day of the month, then the Term shall commence on the first day of the month next succeeding the Commencement Date, provided Tenant shall pay Minimum Monthly Rent and Other Periodic Payments as provided in Section 1.11 (b) below, for the fractional month from the Commencement Date through the first day of the next succeeding month on a per diem basis, calculated on the basis of a thirty [30]-day month, in advance. All Lease expirations, renewal dates, notices of options to renew, and any other provision hereof relating to the commencement of the Term of this Lease shall be determined by reference to (i) the Commencement Date where same occurs on the first day of the month, or (ii) on the first day of the next succeeding month where the Commencement Date does not occur on the first day of the month. Landlord shall not be liable to Tenant if Landlord does not deliver possession of the Demised Premises on or before the Commencement Date. Landlord shall have no obligation to perform any work in connection with preparing the Demised Premises for Tenant's occupancy. Promptly following the date hereof, Landlord, at its expense, shall perform the following work: (i) install appliances (items to be furnished by Tenant at its expense), (ii) furnish and install building standard window treatment, (iii) furnish and install building standard sink, and (iv) furnish and install remaining doors as shown on prebuilt plan. If all of such work has not been substantially completed within forty-five (45) days following the date hereof, then Tenant shall be entitled to an additional abatement of the minimum rent equal to one (1) day for each one (1) business day thereafter until such work has been substantially completed. Landlord's work shall be deemed to be substantially completed where all of Landlord's work, except for minor details or adjustments, none of which materially interfere with Tenant's use of the Demised Premises, have been completed. Section 2.02. Tenant has fully inspected the Demised Premises, is familiar with the condition thereof and agrees to accept possession of the same on the Commencement Date in its then "As Is" condition, except for the substantial completion of Landlord's work as set forth first date specified in Section 2.011.6. Section 2.03. If, prior to the Commencement Date, subject to Landlord's consent, Tenant shall enter the Demised Premises to make any installations, Landlord shall have no liability or obligation for the care or preservation of Tenant's property, except if due to the negligence of Landlord, its agents, contractors, invitees and employees. Section 2.04. Promptly after the Commencement Date upon the request of Landlord, Landlord and Tenant shall execute a statement confirming the agreed upon Commencement and Expiration Dates of this Lease, in accordance with the foregoing provisions.

Commencement of Term. Section 2.01. The 4.1 Effective as of the Effective Date, the second sentence of Section 2.1 of the Lease shall be deemed modified and restated in its entirety as follows: 4 "However, the initial term ("INITIAL TERM") of this Lease and the payment of minimum rent hereunder shall commence on the Commencement Date. Landlord shall deliver possession of the Demised Premises on or before the Commencement Date. Landlord shall have no obligation to perform any work in connection with preparing the Demised Premises for Tenant's occupancy. Promptly following upon the date hereof, Landlord, at its expense, shall perform (the following work: "COMMENCEMENT DATE") which is the earlier of: (i) install appliances the date on which Tenant commences normal business operations from the Premises, or any material portion thereof; it being understood, however, that (items a) the use of the Development as described in Section 2.2 hereof shall not be deemed to constitute normal business operations from the Premises by Tenant, and (b) the use of the Club by all of its members for free or at membership rates of no more than twenty-five percent (25%) of what those rates would otherwise be furnished (as opposed to discounts or rebates offered to attract members or reduction in membership rates as a result of the Club not being substantially completed by Tenant at its expensefor normal business operations) for up to, but not more than, a total of ninety (90) days due to Landlord not yet having Substantially Completed (as defined herein) the Landlord's Work (as defined herein), including without limitation the work described in Section 2.1(ii)(c) hereof, shall not be deemed to constitute normal business operations from the Premises by Tenant (it being understood and agreed that this Section 2.1(i)(b) shall be inapplicable from and after the date that Landlord's Work is Substantially Complete); and 5 (ii) furnish and install building standard window treatment, (iii) furnish and install building standard sink, and (iv) furnish and install remaining doors as shown on prebuilt plan. If all of such work has not been substantially completed within forty-five (45) days following the date hereof, then Tenant which is the last of: (a) the seventh (7th) month anniversary of the date on which Landlord shall Substantially Complete the Minimum Landlord's Work; it being agreed that such seventh (7th) month anniversary date shall be entitled October 1, 2001. (b) August 1, 2001 (the "SCHEDULED COMPLETION DATE"), the Scheduled Completion Date being extended by any actual period that Tenant, using reasonable diligence, shall have been unable to an additional abatement of the minimum rent equal to one (1) day for each one substantially complete the Improvements in accordance with the Work Letter (1collectively, "TENANT'S WORK") by the Scheduled Completion Date due to Landlord Delays (as defined herein) occurring after March 27, 2001 or by reason of an event of Force Majeure (as defined herein) occurring after March 27, 2001 and/or (2) conduct normal business day thereafter until such work has been substantially completed. Landlord's work shall be deemed to be substantially completed where all of Landlord's work, except for minor details or adjustments, none of which materially interfere with Tenant's use operations from the Premises as a result of the Demised Premises, have been completed. Section 2.02. Tenant has fully inspected the Demised Premises, is familiar with the condition thereof and agrees to accept possession of the same on the Commencement Date in its then "As Is" condition, except for the substantial non- completion of Landlord's work Work by the Scheduled Completion Date (as set forth in Section 2.01. Section 2.03. If, prior to the Commencement Date, subject to Landlord's consent, Tenant shall enter the Demised Premises to make any installations, Landlord shall have no liability or obligation for the care or preservation of Tenant's property, except if due to the negligence of Landlord, its agents, contractors, invitees and employees. Section 2.04. Promptly after the Commencement Date upon the request of Landlord, Landlord and Tenant shall execute a statement confirming the agreed upon Commencement and Expiration Dates of this Lease, adjusted in accordance with the foregoing provisionsapplicable provisions of this Lease due to Tenant Delays (as defined herein)) but only if and to the extent that such non-completion resulted from matters occurring after March 27, 2001; it being agreed that no extensions thereof shall be aggregated if and to the extent concurrent, (c) the day on which (i) the Common Areas reasonably required for the operation of the Club by Tenant (including the entrance and lobby serving the Club, all required means of egress and all other public areas immediately adjacent to the Club's entrance, if any) are Substantially Completed and (ii) the base building systems and mechanical systems which interface with and affect the operations of the Club are Substantially Completed, and (d) the day on which the parking areas for the Club located on the B-3 level of the Building are reasonably accessible and usable for parking 6 purposes, without material impairment by any on-going construction at the Development.

Commencement of Term. Section 2.01. (i) The term of this Lease and the payment of minimum rent hereunder lease shall commence on a date (herein referred to as the "Commencement Date"), which shall be the later of (i) the earlier of (A) the date the demised premises are ready for occupancy (as defined in paragraph (b) hereof), of (B) the date Tenant or anyone claiming under or through Tenant first occupies the demised premises for the performance of "Tenant's Work" (as hereinafter defined) or the conduct of its business, and (ii) February 1, 1997, and shall end on the last day of the month preceding the month in which occurs the expiration of sixteen (16) years and four (4) months following the Commencement Date (such date on which the term of the lease expires is herein referred to as the "Expiration Date") or until such term shall sooner cease and terminate as herein provided. (ii) Landlord shall, in accordance with the foregoing, fix the Commencement Date and shall notify Tenant of the date so fixed. When the Commencement Date has so been determined, at Landlord's request, Tenant shall within ten (10) days after such request, execute a written agreement confirming such date as the Commencement Date. Landlord Any failure of Tenant to execute such written agreement shall deliver possession not affect the validity of the Demised Premises Commencement Date as fixed and determined by Landlord as aforesaid. (b) The demised premises shall be deemed ready for occupancy on or before the Commencement Date. Landlord shall have no obligation to perform any work in connection with preparing the Demised Premises for Tenant's occupancy. Promptly following the date hereof, Landlord, at its expense, shall perform that the following work: work described in clause (i) install appliances (items to be furnished by Tenant at its expense), (ii) furnish and install building standard window treatment, (iii) furnish and install building standard sink, and of Article 41 to be performed by Landlord in the demised premises (ivhereinafter called "Landlord's Pre-Commencement Work") furnish and install remaining doors as shown on prebuilt plan. If all of such work has not been substantially completed within forty-five (45) days following the date hereof, then Tenant shall be entitled to an additional abatement of the minimum rent equal to one (1) day for each one (1) business day thereafter until such work has have been substantially completed. Landlord's work ; and it shall be so deemed notwithstanding the fact that minor or insubstantial details of demolition remain to be substantially completed where all of Landlord's workperformed, except for minor details or adjustments, none the non-completion of which do not materially interfere with Tenant's use of the Demised Premises, have been completeddemised premises. Section 2.02. Tenant has fully inspected (c) If the Demised Premises, is familiar with the condition thereof and agrees to accept possession occurrence of the same on the Commencement Date in its then "As Is" condition, except for the substantial completion of Landlord's work as conditions set forth in Section 2.01(b) hereof and thereby the making of the demised premises ready for occupancy shall be delayed due to any act or omission of Tenant or any of its employees, agents or contractors (hereinafter called a "Tenant Delay"), including, without limitation, Tenant's failure to deliver the Work Plan to Landlord within the 20-day period described in Article 41 hereof, the demised premises shall be deemed ready for occupancy on the date when they would have been ready but for such delay. Section 2.03. If(d) If and when Tenant shall take actual possession of the demised premises, prior to it shall be conclusively presumed that Landlord has performed Landlord's Pre-Commencement Work satisfactorily as of the date of such taking of possession, unless within ten (10) days after such date, Tenant shall give Landlord notice specifying the respects in which the same was not so performed or completed. (e) Landlord shall commence Landlord's Pre-Commencement DateWork promptly following the date hereof, and, subject to delay by reason of a condition described in Article 27 hereof or a Tenant Delay, and provided that Landlord shall not be required to employ contractors or labor at overtime or other premium-pay rates or to incur other overtime costs or expenses, shall endeavor to have Landlord's consentPre-Commencement Work substantially completed on or before February 28, Tenant shall enter the Demised Premises to make any installations, Landlord shall have no liability or obligation for the care or preservation of Tenant's property, except if due to the negligence of Landlord, its agents, contractors, invitees and employees1997. Section 2.04. Promptly after the Commencement Date upon the request of Landlord, Landlord and Tenant shall execute a statement confirming the agreed upon Commencement and Expiration Dates of this Lease, in accordance with the foregoing provisions.

Commencement of Term. Section 2.01. The Subject to and upon the terms and conditions set forth in this Lease, the term of this Lease and shall be for a period specified in the payment of minimum rent hereunder shall commence on Summary as Lease Term, commencing upon the date specified in the Summary as the Lease Commencement Date. Landlord shall deliver possession of Upon the Demised Premises on or before the Lease Commencement Date. Landlord shall have no obligation to perform any work in connection with preparing the Demised Premises for Tenant's occupancy. Promptly following the date hereof, Landlord, at its expense, shall perform the following work: (i) install appliances (items to be furnished by Tenant at its expense), (ii) furnish and install building standard window treatment, (iii) furnish and install building standard sink, and (iv) furnish and install remaining doors as shown on prebuilt plan. If all of such work has not been substantially completed within forty-five (45) days following the date hereof, then Tenant shall be entitled to an additional abatement of the minimum rent equal to one (1) day for each one (1) business day thereafter until such work has been substantially completed. Landlord's work shall be deemed to be substantially completed where all of Landlord's work, except for minor details or adjustments, none of which materially interfere with Tenant's use of the Demised Premises, have been completed. Section 2.02. Tenant has fully inspected the Demised Premises, is familiar with the condition thereof and agrees to accept possession of the same on the Commencement Date in its then "As Is" condition, except for the substantial completion of Landlord's work as set forth in Section 2.01. Section 2.03. If, prior to the Commencement Date, subject to Landlord's consent, Tenant shall enter the Demised Premises to make any installations, Landlord shall have no liability or obligation for the care or preservation of Tenant's property, except if due to the negligence of Landlord, its agents, contractors, invitees and employees. Section 2.04. Promptly after the Commencement Date upon the request of Landlord, Landlord and Tenant shall execute a statement confirming Notice of Lease Term Dates, as shown in Exhibit E attached hereto and made a part hereof setting forth, among other things, the agreed upon Lease Commencement Date and the Lease Expiration Dates Date. Landlord and Tenant presently anticipate that substantial completion of the Tenant Improvements (as defined in Exhibit C) will occur and possession of the Premises will be tendered to Tenant in the condition required by this Lease on or about May 17, 2014. If Substantial Completion (as defined in Exhibit C) of the Tenant Improvements has not occurred (and possession of the Premises delivered to Tenant) by the Outside Delivery Date (as defined below), then Tenant shall be entitled by notice in writing to Landlord thereafter to cancel this Lease, in accordance which event, (A) Tenant shall be permitted to retain possession of the Temporary Space (as defined below) for a period of up to six (6) months following the date of such notice on all of terms and conditions set forth in Article 22 below (including the payment of Base Rent as set forth in Article 22 below; provided that the amount of the monthly Base Rent shall instead be $44,758.00); provided, that, during such six (6) month period, Tenant may vacate the Temporary Space at any time and Tenant's obligation to pay Base Rent (as set forth in Article 22 below) shall cease and be prorated as of the date Tenant vacates the Temporary Space, (B) after the date Tenant vacates the Temporary Space, the parties shall be discharged from all obligations hereunder and (C) Landlord shall return any prepaid rent and the security deposit forth with to Tenant; provided further, however, that if Substantial Completion of the foregoing provisionsTenant Improvements and delivery of possession of the Premises to Tenant occurs, then Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. The term "Outside Delivery Date" initially means October 17, 2014, but shall be extended by one day for every one day in delay in substantial completion of the Tenant Improvements caused by (i) Tenant Delays (as defined in Exhibit C) and/or (ii) any other one or more Force Majeure events (as defined in Section 2.24).

Commencement of Term. Section 2.01(a) Notwithstanding anything herein to the contrary, this Lease shall be effective as of the Effective Date. The term of this Initial Lease and the payment of minimum rent hereunder Term shall commence begin on the Rent Commencement DateDate and shall end eight (8) years thereafter, unless sooner terminated as herein provided ("Initial Lease Term"). Landlord shall agrees to deliver to Tenant, and Tenant agrees to accept from Landlord, possession of the Demised Premises upon substantial completion of the Landlord's Work as described in Exhibit C and the Tenant Improvements described in Exhibit C-1 ("Delivery Date") --------- ----------- which Landlord estimates will occur on or before the Commencement Date. Landlord shall have no obligation to perform any work in connection with preparing the Demised Premises for Tenant's occupancy. Promptly following the date hereof, Landlord, at its expense, shall perform the following work: (i) install appliances (items to be furnished by Tenant at its expense), (ii) furnish and install building standard window treatment, (iii) furnish and install building standard sink, and (iv) furnish and install remaining doors as shown on prebuilt plan. If all of such work has not been substantially completed within forty-five (45) days following the date hereof, then Tenant shall be entitled to an additional abatement of the minimum rent equal to one (1) day for each one (1) business day thereafter until such work has been substantially completed. Landlord's work shall be deemed to be substantially completed where all of Landlord's work, except for minor details or adjustments, none of which materially interfere with Tenant's use of the Demised Premises, have been completed. Section 2.02. Tenant has fully inspected the Demised Premises, is familiar with the condition thereof and agrees to accept possession of the same on the Commencement Estimated Delivery Date in its then "As Is" condition, except for the substantial completion of Landlord's work as set forth in Section 2.01.2.1E. ------------ Section 2.03. If, prior to (b) Immediately following the Rent Commencement Date, subject Landlord shall deliver to Tenant a written statement in the form attached hereto as Exhibit E, --------- acknowledging the Rent Commencement Date. Tenant shall execute said statement and deliver same to Landlord within ten (10) Days following Landlord's consentrequest. Except as otherwise specifically stated in this Lease, the "Lease Term" shall include the original term and any Extended Terms and any extensions, renewals or holdover thereof. (c) No later than the close of business on: (i) Xxxxx 0, 0000, Xxxxxx shall deliver to Landlord its space ------------- program requirements; (ii) March 9, 2000, Landlord shall deliver a space plan to ------------- Tenant for Tenant's review and approval; (iii) March 14, 2000, Tenant shall enter notify Landlord of its -------------- approval of the Demised Premises to make any installationsspace plan provided by Landlord; (iv) March 21, 2000, Landlord shall have no liability or obligation for deliver to Tenant cost -------------- estimates associated with the care or preservation construction of the space plan approved by Tenant; (v) March 27, 2000, Tenant shall notify Landlord of its -------------- acceptance of the projected costs associated with the construction of the space plan; (e) Tenant's propertyfailure to meet the deadline set forth in Section 4.1(c)(i) shall constitute a Tenant delay and, except if due day-for-day, shall extend Landlord's time to perform under Sections 4.1(c)(iii) and 4.2(a). Tenant's ------------------------------- failure to meet the negligence of deadline set forth in Section 4.1(c)(ii) shall constitute a ------------------ Tenant delay and, day-for-day, shall extend Landlord's time to perform under Sections 4.1(c)(iii), its agents, contractors, invitees and employees. Section 2.044.2(a). Promptly after the Commencement Date upon the request of Landlord, Landlord and Tenant shall execute a statement confirming the agreed upon Commencement and Expiration Dates of this Lease, in accordance with the foregoing provisions.----------------------------

Commencement of Term. Section 2.01. (a) The term of this Lease and the payment of minimum rent hereunder shall commence on the "Commencement Date. " of the Term shall be October 1, 1996. (b) The "Expiration Date" of the Term shall be the last day of the month in which occurs the fifteenth (15th) anniversary of the Rent Commencement Date. (a) Tenant has examined the demised premises and agrees to accept same in the condition and state of repair existing as of the date hereof subject to normal wear and tear and understands and agrees that Landlord shall deliver possession of the Demised Premises on or before the Commencement Date. Landlord shall have no obligation not be required to perform any work in connection with preparing work, supply any materials or incur any expense to prepare the Demised Premises demised premises for Tenant's occupancy, subject to the provisions of Article 43 hereof. Promptly following Landlord shall, at Landlord's cost, use best efforts to complete the date punchlist work set forth on Schedule Q annexed hereto ("Punchlist Work") on or before November 15, 1996 (subject to delays for Force Majeure Causes and Tenant's Delay). If Landlord shall fail to complete the Punchlist Work on or before November 15, 1996, subject to extensions by reason of Force Majeure Causes and Tenant's Delay, and such failure shall actually delay the commencement or performance of Tenant's Work, then the Rent Commencement Date shall be extended on a day-for-day basis for each day of actual delay in the performance or commencement of Tenant's Work caused by such failure. For purposes hereof, "Landlord, at its expense, 's Work" shall perform mean the following work: (i) install appliances (items to be furnished by Tenant at its expense), (ii) furnish and install building standard window treatment, (iii) furnish and install building standard sink, and (iv) furnish and install remaining doors Base Building work in the demised premises as shown on prebuilt plan. If all the plans and drawings specified on Schedule N annexed hereto and the delivery to Tenant of such work has not been substantially completed within forty-five (45) days following Form ACP-5 with respect to asbestos removal in the date hereof, then Tenant shall be entitled to an additional abatement of the minimum rent equal to one (1) day for each one (1) business day thereafter until such work has been substantially completed. Landlord's work shall be deemed to be substantially completed where all of Landlord's work, except for minor details or adjustments, none of which materially interfere with Tenant's use of the Demised Premises, have been completeddemised premises. Section 2.02. Tenant has fully inspected the Demised Premises, is familiar with the condition thereof and agrees to accept possession of the same on the Commencement Date in its then "As Is" condition, except for the substantial completion of Landlord's work as set forth in Section 2.01. Section 2.03. If, prior to the Commencement Date, subject to Landlord's consent, Tenant shall enter the Demised Premises to make any installations, Landlord shall have no liability or obligation for the care or preservation of Tenant's property, except if due to the negligence of Landlord, its agents, contractors, invitees and employees. Section 2.04. Promptly after the Commencement Date upon the request of Landlord, Landlord and Tenant shall execute a statement confirming the agreed upon Commencement and Expiration Dates of this Lease, in accordance with the foregoing provisions.

Commencement of Term. Section 2.01On or before March 1, 2001, Tenant shall deliver written notice (the "Secondary Premises Notice") to Landlord indicating either (a) that Tenant elects to occupy, for the purpose of conducting its business, the entire Secondary Premises on April 1, 2001, or (b) that Tenant elects to occupy, for the purpose of conducting its business, the 19th Floor Remainder Space on April 1, 2001, with occupancy, for the purpose of conducting its business, of the 16th Floor Remainder Space to begin on October 1, 2001. The In the event that Tenant elects to occupy only the 19th Floor Remainder Space on April 1, 2001, the term of this the Lease and the payment of minimum rent hereunder with respect to such space shall commence on April 1, 2001, and the Commencement Dateterm of the Lease with respect to the 16th Floor Remainder Space shall commence on October 1, 2001. Failure of Tenant to deliver such notice on or before March 1, 2001 shall be deemed an election by Tenant to occupy only the 19th Floor Remainder Space on April 1, 2001. Rent shall first be payable on the entire Secondary Premises on April 1, 2001 if Tenant has elected to occupy the entire Secondary Premises on that date, or on April 1, 2001 for the 19th Floor Remainder Space and October 1, 2001 for the 16th Floor Remainder Space, if Tenant has elected to initially occupy only one-half (1/2) of the Secondary Premises. With the exception of such portion of the Premises on the 16th floor of the Building which Landlord must temporarily close in order to close off the existing interior stairway between the 16th floor of the Building and the adjacent floor, Landlord shall deliver possession (a) the Initial Premises to Tenant within five (5) business days of the Demised Premises on or before the Commencement Date. Landlord shall have no obligation to perform any work in connection with preparing the Demised Premises for TenantLandlord's occupancy. Promptly following the date hereof, Landlord, at its expense, shall perform the following work: (i) install appliances (items to be furnished by Tenant at its expense), (ii) furnish and install building standard window treatment, (iii) furnish and install building standard sinkreceipt of a fully executed copy of this Lease, and (ivb) furnish and install remaining doors as shown on prebuilt plan. If all of such work has not been substantially completed the Secondary Premises to Tenant within forty-five (455) business days following the date hereof, then after written request firm Tenant for delivery of same. Tenant shall be entitled to an additional abatement commence construction of its improvements in the Secondary Premises, pursuant to Exhibit B attached hereto, at any time after delivery of the minimum rent equal Secondary Premises to one (1) day for each one (1) business day thereafter until such work has been substantially completedTenant. Landlord's work During any period that Tenant shall be deemed permitted to be substantially completed where all of Landlord's work, except for minor details or adjustments, none of which materially interfere with Tenant's use enter any portion of the Demised Premises, have been completed. Section 2.02. Tenant has fully inspected the Demised Premises, is familiar with the condition thereof and agrees to accept possession of the same on the Commencement Date in its then "As Is" condition, except for the substantial completion of Landlord's work as set forth in Section 2.01. Section 2.03. If, Premises prior to the Commencement DateDate other than to occupy the same (e.g., subject to Landlord's consentperform alterations or improvements), Tenant shall enter the Demised Premises to make any installations, Landlord shall have no liability or obligation for the care or preservation of Tenant's property, except if due to the negligence of Landlord, its agents, contractors, invitees comply with all terms and employees. Section 2.04. Promptly after the Commencement Date upon the request of Landlord, Landlord and Tenant shall execute a statement confirming the agreed upon Commencement and Expiration Dates provisions of this Lease, except those provisions requiring the payment of Rent. Tenant shall also have the right to occupy all or a portion (as reasonably determined by Tenant) of the 16th Floor Remainder Space while the Initial Premises are under construction (which space shall be made available in accordance its "as-is" condition) for temporary occupancy without any obligation for the payment of Rent with respect to the foregoing provisions16th Floor Remainder Space. Landlord shall permit early entry, provided the Premises are legally available and Landlord has completed any work required under this Lease or any separate agreement entered in connection herewith. Notwithstanding the foregoing, if Tenant elects to take possession of the Secondary Premises in two phases and Tenant opens for business in the 16th Floor Remainder Space prior to October 1, 2001, then Rent shall commence on such date and be prorated based on the number of rentable square feet in the 16th Floor Remainder Space occupied and opened for business by Tenant.

Commencement of Term. Section 2.01. (a) The term of this Lease and the payment of minimum rent hereunder shall commence on July 1, 2004 (hereinafter called "Term Commencement Date"), provided, however, that if Tenant opens for the conduct of its business in the Premises earlier than the date specified, the term of this Lease shall then commence upon the date Tenant opens for the conduct of its business in the Premises. In the event Landlord fails to deliver the Primary Premises on or before February 15, 2004, the July 1, 2004 date set forth in the preceding sentence shall be extended on a day-for-day basis until Landlord's delivery of the Primary Premises. In the event Landlord's Work is not completed on or before June 30, 2004, the July 1, 2004 date set forth in the first sentence of this Section 2.01(a) shall be extended on a day-for-day basis until completion of Landlord's Work. (b) Tenant acknowledges the importance both to Landlord and the other tenants of the Shopping Center of Tenant opening for business to the public on the Term Commencement Date. Landlord shall deliver possession of In the Demised event Tenant fails to open for business at the Premises on or before the Term Commencement Date or, if the Term Commencement Date has been rescheduled by Landlord, on or before the rescheduled Term Commencement Date. , Tenant covenants and agrees to pay to Landlord, upon receipt of notice from Landlord shall have no obligation of the amount due under this Section 2.01(b), as liquidated damages suffered by Landlord due to perform any work in connection with preparing the Demised Premises for Tenant's occupancy. Promptly following failure to open, a sum (in addition to any rent due hereunder) equal to twice the date hereofper diem Fixed Monthly Minimum Rent (using a thirty (30) day month) provided in Section 3.01(a) for each and every business day that Tenant has failed to open for business, Landlordprovided, however, that in the event Tenant is unable to open for business at its expensethe Premises on or before the Term Commencement Date, despite Tenant's best efforts to do so, said liquidated damages shall perform the following work: not begin to accrue until thirty (i) install appliances (items to be furnished by Tenant at its expense), (ii) furnish and install building standard window treatment, (iii) furnish and install building standard sink, and (iv) furnish and install remaining doors as shown on prebuilt plan. If all of such work has not been substantially completed within forty-five (4530) days following the date hereof, then Tenant shall be entitled to an additional abatement of the minimum rent equal to one (1) day for each one (1) business day thereafter until such work has been substantially completed. Landlord's work shall be deemed to be substantially completed where all of Landlord's work, except for minor details or adjustments, none of which materially interfere with Tenant's use of the Demised Premises, have been completedTerm Commencement Date. (c) Notwithstanding anything contained in this Section 2.02. Tenant has fully inspected the Demised Premises, is familiar with the condition thereof and agrees to accept possession of the same on the Commencement Date in its then "As Is" condition, except for the substantial completion of Landlord's work as set forth in Section 2.01. Section 2.03. If, prior 2.01 to the contrary, in the event that Tenant is unable to obtain all necessary liquor licenses on or before the date which is one hundred twenty (120) days following the Term Commencement Date, subject to Landlord's consent, Tenant shall enter the Demised Premises to make any installations, Landlord shall have no liability or obligation for the care or preservation of despite Tenant's propertydiligent efforts, except if due either Landlord or Tenant may terminate this Lease upon thirty (30) days' written notice to the negligence of Landlordother party. In the event this Lease is terminated pursuant to this Section 2.01(c), its agents, contractors, invitees this Lease shall be null and employeesvoid. Section 2.04. Promptly after the Commencement Date upon the request of Landlord, Landlord and Tenant shall execute a statement confirming the agreed upon Commencement and Expiration Dates of this Lease, in accordance with the foregoing provisions.

Commencement of Term. Section 2.01. (a) The term of this Lease and the payment of minimum rent hereunder shall commence on the "Commencement Date. Landlord shall deliver possession " of the Demised Premises on or before Term shall be the Commencement Date. Landlord shall have no obligation to perform any work in connection with preparing the Demised Premises for Tenant's occupancy. Promptly following the date hereof, Landlord, at its expense, shall perform the following work: earlier of (i) install appliances (items to be furnished by Tenant at its expense), (ii) furnish and install building standard window treatment, (iii) furnish and install building standard sink, and (iv) furnish and install remaining doors as shown on prebuilt plan. If all of such work has not been substantially completed within forty-five (45) days following the date hereof, then Tenant shall be entitled to an additional abatement of the minimum rent equal to one (1) day for each one (1) business day thereafter until such work has been substantially completed. on which Landlord's work shall be Work is or is deemed to be substantially completed where all (as hereinafter provided), or (ii) the date Tenant or anyone claiming under or through Tenant first occupies the demised premises for the conduct of Landlord's work, except for minor details or adjustments, none of which materially interfere with Tenant's use its business. (b) The "Expiration Date" of the Demised Premises, have been completedTerm shall be the last day of the month in which occurs the third (3rd) anniversary of the Commencement Date. Section 2.02. (a) Tenant has fully inspected examined the Demised Premises, is familiar with the condition thereof demised premises and agrees to accept possession of the same on the Commencement Date in its then "As Is" conditionthe condition in which it exists on the date hereof, except for subject to the substantial completion performance of Landlord's Work (as such term is hereinafter defined), and understands and agrees that no work is to be performed or materials to be supplied by Landlord in connection with preparing the demised premises for Tenant's occupancy, except that Landlord shall, through contractors engaged by Landlord at a cost to Landlord which shall not exceed $31,550.00 (hereinafter called the "Work Credit"), make and complete "Landlord's Work" (as such term is hereinafter defined) in accordance with the final architectural, mechanical, electrical and engineering drawings (collectively, the "Final Plans") to be prepared by an architect selected by Landlord based on the preliminary plans annexed hereto as Schedule G, so that the Final Plans will encompass working construction drawings which reflect the scope and quantity of work set forth in such preliminary plans. Tenant agrees to cooperate with Landlord in the preparation of the Final Plans and shall promptly meet with Landlord, if so requested by Landlord, and to timely respond to Landlord's request for information necessary in order to prepare such Final Plans. In connection with the performance of Landlord's Work, Landlord shall deliver to Tenant a copy of an ACP-5 Certificate with respect to the demised premises. To the extent that the cost of Landlord's Work (including, without limitation, the cost of preparing and filing the Final Plans and obtaining all necessary governmental permits and approvals in connection therewith) shall exceed the amount of the Work Credit, Tenant shall be entirely responsible for such excess (the "Excess Amount"). As a condition to the performance of, and prior to the commencement of, Landlord's Work, Tenant shall pay to Landlord, as additional rent hereunder, within three (3) Business Days after demand therefor, the Excess Amount (subject to adjustment as hereinafter provided). To the extent that any item of Landlord's cost cannot be precisely ascertained prior to the commencement of Landlord's Work, Landlord shall be permitted to reasonably estimate the same and at such times during or after the performance of Landlord's Work as such costs may be determined precisely, the Excess Amount shall be adjusted accordingly. If, after the actual costs of Landlord's Work have been ascertained, there has been an underpayment by Tenant of the Excess Amount, Tenant shall pay the amount of such underpayment to Landlord within three (3) Business Days after demand therefor, and if there has been an overpayment thereof, Landlord agrees to refund such amount to Tenant promptly after such costs have been ascertained. If Tenant fails to timely pay any such underpayment to Landlord within the foregoing time period, any delays in the performance of Landlord's Work ensuing thereafter shall be attributable to Tenant as provided in subsection 2.07(b). Landlord agrees that the following costs associated with Landlord's Work shall be borne solely by Landlord: (i) costs incurred to remove any asbestos or asbestos-containing materials from the demised premises or the surrounding area; (ii) restoration costs in excess of insurance proceeds as a consequence of casualties; (iii) off-site management or other general overhead costs incurred by Landlord; and (iv) construction management, profit and overhead charges in excess of five (5%) percent of the total cost of Landlord's Work. To the extent that the Final Plans do not specify any construction items, materials or finishes in connection with the performance of Landlord's Work, Landlord shall use such items, materials and finishes previously adopted by Landlord in its sole discretion as standard for the Building. (b) The Final Plans shall be submitted by Landlord's Construction Manager to Tenant for Tenant's approval, which approval shall not be unreasonably withheld or delayed. In the event that Tenant shall fail to approve the Final Plans (or shall fail to respond to Landlord's request for approval of same) within five (5) Business Days after the date of the submission thereof, the Final Plans shall be deemed disapproved and all delays thereafter ensuing until Tenant shall approve said Final Plans shall be attributable to Tenant as hereinafter provided in Section 2.07(b) hereof. If Tenant shall respond to Landlord's request for approval of the Final Plans within the foregoing 5- Business Day period but shall request changes thereto, any delays ensuing from such request for changes until the Final Plans shall be approved by Tenant shall be attributable to Tenant as set forth in Section 2.01. Section 2.032.07(b) hereof. If, prior It is understood and agreed that Landlord may refuse to make any revisions to the Commencement DateFinal Plans requested by Tenant to the extent that the same would require (i) materials, subject designs, capacities, finishes and colors other than of the standard adopted by Landlord for the Building or commonly utilized by Landlord for tenant installations in the Building (all of the foregoing are hereinafter referred to as "Building Standard"), (ii) work or materials which do not comply with all laws, rules and regulations of all public authorities having jurisdiction in the Building with respect to Landlord's consentWork, (iii) the performance of "Special Work" (as hereinafter defined), or (iv) work or materials which shall adversely affect the ability of the building systems to function properly. In the event that Landlord refuse requested changes to the Final Plans solely for the reason set forth in clause (i) or (iii) of this Section 2.02(b), Tenant shall enter have the Demised Premises right to make override such action by Landlord provided that Tenant shall assume, by written notice to Landlord, responsibility for all delays of Landlord's Work resulting therefrom, and any installationssuch delays shall be deemed to have resulted from an act of Tenant within the meaning of Section 2.07(b) of this Lease. It is further agreed that if Landlord shall be delayed in substantially completing Landlord's Work as a result of: (i) Tenant's changes in the Final Plans, (ii) any request by Tenant that Landlord delay the completion of any Landlord's Work, (iii) any negligent or wrongful act of Tenant or its officers, agents, servants or contractors, (iv) the inclusion in the Final Plans of "Special Work" (as such term is hereinafter defined), or (v) any other act or omission of Tenant, then any such delay shall be deemed to have resulted from the act or omission of Tenant within the meaning of Section 2.07(b) of this Lease. (c) After Tenant has approved the Final Plans in accordance with subsection 2.02(b) above, Landlord or Landlord's Construction Manager shall promptly seek at least three (3) bids for Landlord's Work for such trades where three (3) such contractors are practicably available for bidding, from such contractors as Landlord's Contractor shall select, except that Landlord shall not be obligated to obtain bids for the following subtrades: life safety, sprinklering, and fire detection systems and any work in a subtrade for which the aggregate cost is less than $5,000. Landlord shall have no liability or obligation if any of the contractors shall fail to timely submit a bid. Landlord's Contractor may select such bidder that it believes will do the best job in the most timely manner. After Landlord shall have completed the foregoing bidding process, Landlord shall submit to Tenant for the care or preservation of Tenant's propertyreview a statement of Landlord's Construction Manager setting forth the projected cost of Landlord's Work for Tenant's approval, except if due not to be unreasonably withheld (herein called the "Construction Bid"). If Tenant shall fail to approve the Construction Bid within five (5) Business Days after submission thereof, the same shall be deemed disapproved by Tenant and all delays thereafter ensuing until Tenant shall approve any such costs shall be attributable to Tenant as hereinafter provided in subsection 2.07(b) hereof. In the event of disapproval, Landlord shall not be restricted from continuing the approved portion of Landlord's Work to the negligence extent such approved portions are, under good construction practices, capable of being installed prior to the installation of such disapproved portions of Landlord's Work; and if such approved portions of Landlord's Work are thereafter removed and replaced, its agents, contractors, invitees the cost of such removal and employeesreplacement shall be deemed part of Landlord's Work and paid for by Tenant to Landlord as provided in subsection 2.04 hereof. Section 2.03. Landlord shall make and complete in and to the demised premises the work and installations (herein called "Landlord's Work") specified in the Final Plans using contractors therefor selected by Landlord in its discretion. Landlord shall permit a representative of Tenant to inspect the progress of the performance of Landlord's Work at intervals appropriate to the state of construction, to familiarize Tenant with the progress of Landlord's Work. Landlord or Landlord's contractor shall prepare and file all required architectural, mechanical and electrical drawings and obtain all necessary permits. 2.04. Promptly after [Intentionally omitted] 2.05. As used in this Article 2, the Commencement Date upon term "Special Work" shall mean (i) work that is unusually complex, or (ii) work which requires the request performance of Landlordwork, Landlord and Tenant shall execute a statement confirming labor or services or the agreed upon Commencement and Expiration Dates application of this Leaseskills not generally utilized in the performance of tenant improvement work for normal office occupancy in comparable office buildings in New York City, or (iii) work which requires labor or materials which are not readily available in accordance with the foregoing provisionsNew York City metropolitan area or (iv) work which takes longer to perform or complete than Building Standard work.