Industrial and Commercial Incentive Program. (1) On or before the Closing Date, Borrower shall deliver to Administrative Agent the preliminary application submitted to the New York City Department of Finance (“Department of Finance”) evidencing the Project’s eligibility for the partial tax exemption in accordance with paragraph 24 of Schedule 4-Part A.
Industrial and Commercial Incentive Program. Seller hereby notifies Purchaser that Seller has previously applied for the benefits provided by Sections 11-256 through 11-267 of the Administrative Code of the City of New York, authorized by Title 2-D of Article 4 of the New York Real Property Tax Law and all rules and regulations promulgated thereunder (herein collectively called the "Industrial and Commercial Incentive Program" or the "ICIP Program"). The New York City Department of Finance determined that the renovations made by Seller did not result in an assessable increase which would be subject to the benefits of the ICIP Program. No representation is made by Seller as to the availability of any reduction in real estate taxes as a result of the ICIP Program and there will be no adjustment in the Purchase Price hereunder as a result of the lack of benefits from the ICIP Program. Purchaser agrees to take any action it deems appropriate with respect to the ICIP Program at its own cost and expense.
Industrial and Commercial Incentive Program. Landlord hereby notifies Tenant that Landlord intends to avail itself of the Industrial and Commercial Incentive Program ("ICIP") with respect to the Base Building Upgrade Work and the Fit-Out Work to the extent in either case that the same qualify for the ICIP. In contracting pursuant to the Initial Improvements Agreement for the Base Building Upgrade Work and, to the extent that the same qualifies for the ICIP, the Fit-Out Work, Tenant shall include provisions requiring all of the construction managers, contractors and subcontractors to comply with the New York City Office of Labor Services/Construction Division ("OLS") requirements applicable to construction projects benefiting from the ICIP. Such compliance, as of the date hereof, includes the following: the submission and approval of a Construction Employment Report, attendance at a pre-construction conference with representatives of the OLS and adherence to the provisions of Article 22 of the ICIP Rules and Regulations, the provisions of New York City Charter Chapter 13-B and the provisions of Executive Order No. 50 (1980). Furthermore, at Landlord's request, Tenant shall (A) report to Landlord the number of workers permanently engaged in employment in the Leased Premises, the nature of each worker's employment and, to the extent applicable, the New York City residency of each worker, (B) provide access to the Leased Premises by employees and agents of the Department (as such term is defined in the ICIP Rules and Regulations) at all reasonable times, and (C) enforce the contractual obligations of such construction managers, contractors and subcontractors to comply with the OLS requirements. Landlord shall be responsible for the preparation of all applications (including any revised applications), certificates of continuing eligibility and any other documents, certificates and instruments that may be required in order to obtain benefits under the ICIP and/or in order to maintain the benefits in effect. Tenant shall, at Landlord's request, (i) make available to Landlord the Plans and Specifications and all cost records relative to the Base Building Upgrade Work and the Fit-Out Work, and (ii) otherwise cooperate with Landlord's efforts to obtain such benefits (including, without limitation, the execution within 5 Business Days after request of any forms required to be executed by Tenant or otherwise customarily executed by similarly situated tenants), provided, that Tenant shall not be required to alter...
Industrial and Commercial Incentive Program. (a) For purposes of this Section 34.1, the term "Project" shall mean, collectively, (i) the performance by Landlord of Landlord's Work and (ii) the performance by Tenant of any Alterations in the Premises or the Building. All other terms used herein, unless otherwise defined in this Lease, shall have the meanings ascribed to them in Sections 11-256 through 11-267 of the Administrative Code of the City of New York, authorized by Title 2-D of Article 4 of the New York Real Property Tax Law and all rules and regulations promulgated thereunder (herein collectively called the "Industrial and Commercial Incentive Program" or the "ICIP Program").
