ContractAgreement of Sublease • July 15th, 2010 • Ameritrans Capital Corp
THIS AGREEMENT OF SUBLEASE made as of the 1st day of July, 2010, by and between Commonwealth Associates, LP (“Commonwealth”), 830 Third Avenue, Eighth Floor, New York, New York 10017 ("Landlord") and AMERITRANS CAPITAL CORPORATION/ELK ASSOCIATES FUNDING CORPORATION, 830 Third Avenue, Eighth Floor, New York, New York 10017("Tenant"). This Agreement of Sublease is sometimes hereinafter referred to as the "Sublease".
CRC INSURANCE SERVICES, INC. Sublandlord and AMERITRANS CAPITAL CORPORATION Subtenant SUBLEASE July__, 2010CRC Insurance Services • July 15th, 2010 • Ameritrans Capital Corp • New York
In addition to the Fixed Rent payable hereunder, Subtenant covenants to pay, for periods occurring wholly or in part within the Term, as additional rent (“Additional Charges”), without any deduction, offset, abatement, defense and/or counterclaim whatsoever (i) an amount (the “Tax Escalation Payment”) equal to Subtenant’s Percentage of the amount, if any, by which the Taxes payable for any Comparative Tax Year (any part or all of which falls within the Term) shall exceed the Tax Base Factor (as hereinafter defined) for such Comparative Tax Year; provided, however, that, if the Commencement Date shall occur other than on the first day of a Lease Year or if the Term shall expire or be sooner terminated on other than the last day of a Lease Year, then the Tax Escalation Payment in respect thereof shall be prorated to correspond to that portion of such Comparative Tax Year or calendar year, as applicable, occurring within the Term, and (ii) all other amounts that are required to be paid as
