Common use of The Third Additional Space Clause in Contracts

The Third Additional Space. (i) The Third Additional Space only is hereby added to the Existing Premises effective as of the Third Additional Space Commencement Date under all of the terms, covenants and conditions of the Lease, except to the extent expressly modified herein, for a term commencing on the Third Additional Space Commencement Date and with respect to the Third Additional Space, ending on the T/F Additional Space Expiration Date or on such earlier date upon which the term of the Lease shall expire, be canceled or terminated pursuant to any of the terms, covenants or conditions of the Lease or pursuant to law. (ii) Notwithstanding anything to the contrary contained in the Lease, as modified by this Agreement, Tenant acknowledges that it has been informed by Landlord that the Third Additional Space is presently occupied by an existing tenant of the Building, City National Bank (the “Existing Tenant”), under a separate lease agreement (the “Existing Lease”) which is to expire by its terms on August 31, 2021. Tenant further acknowledges that it has been informed by Landlord that the Existing Tenant has advised Landlord that it may be willing to vacate and surrender to Landlord possession of the Third Additional Space prior to the Third Additional Space Commencement Date. Landlord and Tenant agree that if the Existing Tenant does not vacate the Third Additional Space on or before the Third Additional Space Commencement Date and, as a result, Landlord shall be unable to deliver possession of the Third Additional Space to Tenant as required by the terms of this Agreement, then (A) Landlord shall not be subject to any liability for such failure, and (B) the Lease, as modified by this Agreement, shall remain in full force and effect without extension of the term with respect to the Third Additional Space, however, Tenant’s obligation to pay Fixed Annual Rent and Additional Rent with respect to the Third Additional Space shall not commence and any rent credits or abatements to which Tenant is entitled under this Agreement with respect to the Third Additional Space only shall be similarly delayed, until possession of the Third Additional Space is delivered to Tenant in the condition required by this Agreement. In such event, upon Landlord’s recovery of actual and lawful possession of the Third Additional Space, free of occupants therein, but otherwise in its then as-is condition, Landlord shall furnish Tenant with prompt notice thereof and deliver possession to Tenant in the condition required by this Agreement promptly thereafter. Except to the extent otherwise provided for by the express terms located elsewhere in this Agreement, Tenant expressly waives any right to rescind the Lease and this Agreement under Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession of the Third Additional Space in accordance with the terms of this Agreement. Tenant agrees that the provisions of this Subsection are intended to constitute “an express provision to the contrary” within the meaning of said Section 223-a. (iii) In addition to the provisions of Section 1a(ii) of this Agreement, in the event that Landlord shall be unable to deliver to Tenant possession of the Third Additional Space in the condition required by the terms of this Agreement, on or before January 1, 2015, then as and for Tenant’s sole and exclusive remedy (other than and in addition to those abatements of Fixed Annual Rent provided for in Section 2a(ii) of this Agreement), then Tenant shall accrue an abatement of Fixed Annual Rent for the Third Additional Space from and after January 1, 2015 through and including the date that Landlord delivers possession of the Third Additional Space, at the rate of one (1) day for each day of delay in Landlord’s delivery of possession of the Third Additional Space until such time as Landlord delivers to Tenant possession of the Third Additional Space in the condition required by the terms of this Agreement, which abatement shall be applied to the monthly installments of Fixed Annual Rent accruing under the Lease, as modified by this Agreement, immediately after the application and expiration of those abatements of Fixed Annual Rent provided for in Section 2a(ii) of this Agreement.

The Third Additional Space. is presently affected by a lease between Owner and Tenant dated November 1, 1995 (i) The Third Additional Space only said lease, as modified by written agreements, is hereby added referred to the as "Tenant's Existing Premises effective as of the Third Additional Space Commencement Date under all of the terms, covenants and conditions of the 41st Floor Lease, except to the extent expressly modified herein"), for a term commencing which shall expire on the Third Additional Space Commencement Date and with respect to the Third Additional SpaceSeptember 30, ending on the T/F Additional Space Expiration Date or on such earlier date upon which the term of the Lease shall expire, be canceled or 2002 unless sooner terminated pursuant to any of the terms, covenants or conditions of the Tenant's Existing 41st Floor Lease or pursuant to law. (ii) Notwithstanding anything . Nothing contained in this Lease shall be deemed a waiver by Owner of any rights or remedies relating to Tenant's Existing 41st Floor Lease. Any default under Tenant's Existing 41st Floor Lease shall be deemed an Event of Default under this Lease with the effect that the termination of either of Tenant's Existing 41st Floor Lease pursuant to the contrary contained in the provisions of Article 16 thereof (entitled "Default") or Article 17 thereof (entitled "Remedies") shall automatically terminate this Lease, but Tenant shall remain liable for damages as modified by provided in Article 18 hereof with the same force and effect as if this Agreement, Tenant acknowledges that it has Lease had been informed by Landlord that terminated in accordance with the Third Additional Space is presently occupied by an existing tenant provisions of the Building, City National Bank (the “Articles 16 and 17 hereof. No provisions of Tenant's Existing Tenant”), under 41st Floor Lease shall be deemed carried over into or made a separate lease agreement (the “Existing part of this Lease except as expressly set forth in this Lease”) which is to expire by its terms on August 31, 2021. Tenant further acknowledges that it has been informed by Landlord that the Existing Tenant has advised Landlord that it may be willing to vacate and surrender to Landlord possession Occupancy of the Third Additional Space or any part thereof by Tenant or any person claiming through or under Tenant prior to the Third Additional Space Commencement Date. Landlord Date shall be deemed to be occupancy under Tenant's Existing 41st Floor Lease and shall be subject to all of the applicable terms, covenants or conditions thereof; occupancy thereof by Tenant agree that if the Existing Tenant does not vacate the Third Additional Space or any such person on or before after the Third Additional Space Commencement Date and, as a result, Landlord shall be unable deemed to deliver be occupancy under this Lease and shall be subject to all of the terms, covenants and conditions hereof. Continuing occupancy of all or any part of the Third Additional Space by Tenant or any person claiming through or under Tenant after the expiration of the term of Tenant's Existing 41st Floor Lease shall be deemed to constitute delivery of possession of the Third Additional Space to Tenant as required by the terms of this Agreement, then (A) Landlord shall not be subject to any liability for such failure, and (B) the Lease, as modified by this Agreement, shall remain in full force and effect without extension of the term with respect to the Third Additional Space, however, Tenant’s obligation to pay Fixed Annual Rent and Additional Rent with respect to on the Third Additional Space shall not commence and any rent credits or abatements to which Tenant is entitled Commencement Date under this Agreement with respect to the Third Additional Space only shall be similarly delayed, until possession of the Third Additional Space is delivered to Tenant in the condition required by this Agreement. In such event, upon Landlord’s recovery of actual and lawful possession of the Third Additional Space, free of occupants therein, but otherwise in its then as-is condition, Landlord shall furnish Tenant with prompt notice thereof and deliver possession to Tenant in the condition required by this Agreement promptly thereafter. Except to the extent otherwise provided for by the express terms located elsewhere in this Agreement, Tenant expressly waives any right to rescind the Lease and this Agreement under Section 223-a of the New York Real Property Law or under any present or future statute of similar import then in force and further expressly waives the right to recover any damages, direct or indirect, which may result from Landlord’s failure to deliver possession of the Third Additional Space in accordance with the terms of this Agreement. Tenant agrees that the provisions of this Subsection are intended to constitute “an express provision to the contrary” within the meaning of said Section 223-a. (iii) In addition to the provisions of Section 1a(ii) of this Agreement, in the event that Landlord shall be unable to deliver to Tenant possession of the Third Additional Space in the condition required by the terms of this Agreement, on or before January 1, 2015, then as and for Tenant’s sole and exclusive remedy (other than and in addition to those abatements of Fixed Annual Rent provided for in Section 2a(ii) of this Agreement), then Tenant shall accrue an abatement of Fixed Annual Rent for the Third Additional Space from and after January 1, 2015 through and including the date that Landlord delivers possession of the Third Additional Space, at the rate of one (1) day for each day of delay in Landlord’s delivery of possession of the Third Additional Space until such time as Landlord delivers to Tenant possession of the Third Additional Space in the condition required by the terms of this Agreement, which abatement shall be applied to the monthly installments of Fixed Annual Rent accruing under the Lease, as modified by this Agreement, immediately after the application and expiration of those abatements of Fixed Annual Rent provided for in Section 2a(ii) of this Agreement.