MERRITT 7 VENTURE L.L.C.,
Landlord
HARRIS INTERACTIVE, INC.,
Tenant
Space:
10,711 gross leasable square feet
Third Floor
Building
101
Merritt 7 Corporate Park
Norwalk, Connecticut 06851
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ARTICLE
NO.
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TITLE
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PAGE NO.
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Premises,
Term, Purposes & Rent
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1
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Completion
and Occupancy
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3
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Use of
Premises
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4
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Appurtenances, Etc., Not to be
Removed
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5
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Various
Covenants
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6
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Changes or
Alterations by Landlord
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10
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Damage by
Fire, Etc.
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11
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Condemnation
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13
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Compliance
with Laws
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14
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Accidents to
Plumbing and Other Systems
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16
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Notices
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17
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Conditions
of Limitation
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17
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Re-entry by
Landlord
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19
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Damages
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20
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Waivers by
Tenant
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21
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Waiver of
Trial by Jury
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22
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Elevators,
Cleaning, Heating, Air Conditioning, Services, Etc.
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22
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Lease
Contains All Agreements — No Waivers
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24
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ARTICLE
NO.
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TITLE
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PAGE NO.
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Parties
Bound
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25
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Curing
Tenant’s Defaults — Additional Rent
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26
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Inability to
Perform
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27
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Adjacent
Excavation — Shoring
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27
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Article Headings
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28
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Electrical
Energy
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28
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Assignment,
Mortgaging, Subletting, Etc.
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30
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Additional
Rent
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33
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Subordination
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36
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Miscellaneous
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38
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Layout and
Finish
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41
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Parking
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44
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Broker
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45
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Holding
Over
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45
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Severability
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45
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Governing
Law
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46
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Quiet
Enjoyment
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46
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Security
Deposit
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46
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Tenant’s Option to Extend
Term
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47
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ARTICLE
NO.
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TITLE
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PAGE NO.
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Right of
First Offer
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49
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Exhibit A — Rental Plan
Exhibit B — Tenant’s Plans
Exhibit C — Cleaning Specifications
Exhibit D — Option Space(s) Plan
Rules and Regulations
LEASE ,
dated March 27 th , 2001, between MERRITT 7 VENTURE
L.L.C., a Delaware limited liability company having a place of
business at c/o Albert D. Phelps, Inc., 401 Merritt 7, Norwalk,
Connecticut 06851 (hereinafter called “Landlord”), and
HARRIS INTERACTIVE, INC., a corporation having a place of business
at 101 Merritt 7, Norwalk, Connecticut 06851 (hereinafter
called.“Tenant”).
Premises, Term, Purposes and
Rent
Section 1.01 . Landlord does hereby lease to Tenant,
and Tenant does hereby hire from Landlord, subject to any ground
leases and/or underlying leases and/or easements and/or mortgages
as hereinafter provided, and upon and subject to the covenants,
agreements, terms, provisions and conditions of this Lease, for the
term hereinafter stated, certain premises consisting of 10,711
gross leasable square feet on the Third Floor in the building known
as Building No. 1, 101 Merritt 7 Corporate Park, Norwalk,
Connecticut 06851 (hereafter called the “Building”),
substantially as shown hatched on the rental plan(s) annexed hereto
as Exhibit “A.” Said leased premises, together with all
fixtures, equipment, improvements, installations and appurtenances
which at the commencement of, or during the term of this Lease, are
thereto attached (except items not deemed to be included therein
and removable by Tenant as provided in Article 4 of this
Lease) are hereinafter called the “Premises.” The plot
of land on which the Building is erected is hereinafter called the
“Land.”
Section 1.02. The term of this Lease shall commence on
the date upon which Landlord’s Work at the Premises is deemed
to have been substantially completed pursuant to Article 2 of
this Lease or on such earlier date as either
(a) Landlord’s Work has been substantially completed
pursuant to Article 29 of this Lease (as evidenced by approval
by local governmental authority of the issuance of a certificate of
occupancy or its equivalent for the Premises), or (b) Tenant
shall occupy the Premises or any part thereof with the consent of
Landlord for the purpose of carrying on the normal functions of
Tenant’s business (such date for the commencement of the term
hereof being hereinafter called the “Term Commencement
Date”), and shall end at midnight on that certain day (the
“Expiration Date”) which is the date immediately
preceding the seven (7) year anniversary of the Term
Commencement Date, or shall end on such earlier date upon which
this Lease is terminated pursuant to any of the conditions of
limitation or other provisions of this Lease or pursuant to law.
Landlord currently anticipates that Landlord’s Work shall be
substantially completed by June 1, 2001, but the actual Term
Commencement Date may differ. In the event Landlord’s Work is
not substantially completed by June 1, 2001, Tenant shall have
the ongoing right to continue to occupy space in the Merritt 7
Corporate Park currently occupied by it and shall begin paying rent
for such
1
alternate space
at the Fixed Rent rate hereinafter set forth in
Section 1.04(i). In addition to the Fixed Rent, Tenant shall
pay Landlord operating expenses and electrical charges based on
10,711 s.f. at the same rates as set forth in this Lease. Once the
Premises leased herein have been substantially completed, Tenant
shall have an overlap period of three (3) days to relocate
from its prior premises to the Premises described herein. Upon
vacation and surrender of such prior premises as required by the
terms of any prior lease with respect to same, such prior lease
shall be null, void and of no further force and effect. Landlord
shall give Tenant notice when Landlord’s Work at the Premises
is substantially completed. Failure of Landlord to give such notice
shall in no way be deemed a default or extend the Term Commencement
Date. Landlord and Tenant each agree, at the request of the other,
to confirm by letter agreement the actual Term Commencement Date
and the date by which Tenant must give notice of its exercise of
the option to renew as set forth in Section 37.01
herein.
Section 1.03. The Premises shall be used for the
following, but no other purpose, namely: general and executive
office use and all related uses thereto. Tenant shall have the
right to use all common areas and amenities appurtenant to the
Premises.
Section 1.04. The rent reserved under this Lease for
the term hereof shall be and consist of the following fixed rent,
(“Fixed Rent”) namely:
(i) at the rate of
$246,353.00 per annum (which is calculated at the annual rate of
$23.00 per gross leasable square foot) for the first, second, third
and fourth years of the term of this Lease;
(ii) at the rate
of $257,064.00 per annum (which is calculated at the annual rate of
$24.00 per gross leasable square foot) for the fifth, sixth and
seventh years of the term of this Lease;
payable without
demand in equal monthly installments in advance on the first day of
each and every calendar month during said term. In addition to the
Fixed Rent, Tenant will be responsible for paying the cost of
Tenant’s electric consumption as set forth in Article 24
hereof, plus the cost of operating expenses as set forth in
Article 26 hereof and plus such additional rent and other
charges as shall become due and payable hereunder, which additional
rent and other charges shall be payable as hereinafter provided;
all to be paid to Landlord at its office set forth in the first
paragraph of this Lease, or such other place as Landlord may
designate, in lawful money of the United States of America. If the
Term Commencement Date is on other than the first day of a calendar
month or if this Lease expires or terminates on other than the last
day of a calendar month, the Fixed Rent and additional rent for any
such partial month shall be appropriately pro-rated, based upon the
number of calendar days in such partial month(s).
Section 1
.05. Tenant does hereby covenant and agree promptly to pay the
Fixed Rent, additional rent and other charges herein reserved as
and when the same shall become due and payable, without demand
therefor, and without any set-off or deduction whatsoever (unless
otherwise
2
provided
herein), and to keep, observe and perform, and to permit no
violation of, each and every of the covenants, agreements, terms,
provisions and conditions herein contained on the part and on
behalf of Tenant to be kept, observed and performed.
Section 1.06. In determining the gross leasable area of
the Premises or any portion thereof pursuant to any provision of
this Lease, the gross leasable area of the Premises or such
portion, as the case may be, shall be the gross leasable area
thereof in square feet determined in accordance with the Standard
Method of Floor Measurement for Office Buildings adopted by The
Real Estate Board of New York, Inc., 1981 edition.
Section 2.01 . Landlord shall cause to be performed and
shall notify Tenant of the substantial completion of
Landlord’s Work in accordance with Tenant’s Plans
(annexed to this Lease as Exhibit B) and the Working Drawings
and Specifications, as set forth under the terms of Article 29
hereof. Tenant shall be fully responsible financially and otherwise
for all other interior finish work for which Landlord has not in
this Lease specifically and expressly assumed responsibility to pay
or perform. Landlord shall use its best efforts to periodically
advise Tenant of the status of completion of Landlord’s Work
so as to allow Tenant ample prior notice to coordinate its
access.
Section 2.02. Landlord shall not be subject to any
liability for failure to give possession of the Premises to Tenant
or to cause Landlord’s Work to be substantially completed on
or by the specific date hereinbefore designated as the anticipated
date for the commencement of the term. No part of the Premises
shall be deemed unavailable for occupancy by Tenant by reason of
non-completion of details of construction, decoration or mechanical
adjustments which are minor in character and do not materially
interfere with Tenant’s use of such part of the Premises. In
the event there is a delay in the availability of the Premises for
occupancy by Tenant due to (a) any act or omission of any
nature by Tenant or by any of Tenant’s agents or employees
which interferes with or delays the performance of Landlord’s
Work or which is a breach of Tenant’s obligations under this
Lease, or (b) any additional time for the completion of work
designated as “Special Work” as provided in
Article 29 hereof, Landlord’s Work shall be deemed to
have been completed and the Premises shall be deemed to have been
made available for Tenant’s occupancy on the date when
Landlord’s Work would have been substantially completed but
for any such act, omission, or default on the part of Tenant or any
of its agents or employees, and Tenant shall be liable for the
payment of one (1) day’s rent for each day of such
delay.
Section 2.03. Tenant, by entering into occupancy of any
part of the Premises for the operation of its business, shall be
conclusively deemed to have agreed that, up to the time of such
occupancy Landlord had performed all of its obligations to complete
Landlord’s Work with respect to such part of the Premises and
that such part of the Premises, except for latent defects and
the
3
minor details
of construction, decoration and mechanical adjustments hereinbefore
referred to, was in satisfactory condition as of the date of such
occupancy, unless within ten (10) days after such date Tenant
shall give written notice to Landlord specifying the respects in
which the same was not in such condition.
Section 3.01. Tenant shall not use the Premises or any
part thereof, or permit the Premises or any part thereof to be
used, for any purpose other than the use hereinbefore specifically
mentioned in Section 1.03. Those portions, if any, of the
Premises which are identified as toilets and utility areas shall be
used by Tenant only for the purposes for which they are
designed.
Section 3.02. Tenant shall not use or permit the use of
the Premises or any part thereof in any way which would violate any
of the covenants, agreements, terms, provisions and conditions of
this Lease or for any unlawful purposes or in any unlawful manner
and Tenant shall not suffer or permit the Premises or any part
thereof to be used in any manner or anything to be done therein or
anything to be brought into or kept therein which shall in any way
impair or tend to impair the character, reputation or appearance of
the Building as a high quality office building, impair or
unreasonably interfere with or tend to impair or unreasonably
interfere with any of the building services or the proper and
economic heating, cleaning, air conditioning or other servicing of
the Building or the Premises, or impair or unreasonably interfere
with or tend to impair or unreasonably interfere with the use of
any of the other areas of the Building by, or occasion discomfort,
inconveniences or annoyances to, any of the other tenants or
occupants of the Building. Tenant shall not install any electrical
or other equipment of any kind which might cause any such
impairment, interference, discomfort, inconvenience, or annoyance.
Landlord acknowledges that standard, customary office equipment
(including computers, copiers and the like) contemplated by Tenant
in its use of the Premises in accordance with the uses set forth in
Section 1.03 will not cause any such impairment, interference,
discomfort, inconvenience or annoyance.
Section 3.03. If any governmental license or permit
(other than a certificate of occupancy for general and executive
office use) shall be required for the proper and lawful conduct of
Tenant’s business or other activity carried on in the
Premises, then Tenant, at Tenant’s expense, shall duly
procure and thereafter maintain such license or permit and submit
the same to inspection by Landlord. Tenant, at Tenant’s
expense, shall, at all times, comply with the requirements of each
such license or permit, including, the certificate of occupancy, as
it applies to Tenant’s use and occupancy of the
Premises.
4
Appurtenances, Etc., Not to be
Removed
Section 4.01. Except as otherwise expressly provided in
this Lease (including the provisions of this Article 4), all
fixtures, equipment, improvements, installations and appurtenances
attached to, or built into, the Premises at the commencement of or
during the term hereof (hereinafter severally, and collectively
called, in this Section 4.01, “Appurtenances”),
whether or not furnished or installed at the expense of Tenant or
by Tenant, shall be and remain part of the Premises and be deemed
the property of Landlord and shall not be removed by Tenant without
Landlord’s prior written approval which shall not be
unreasonably withheld. Notwithstanding the preceding sentence, any
Appurtenances, as well as all articles of personal property, trade
fixtures, furniture and movable business machinery, equipment and
partitions owned by Tenant and furnished and installed in any part
of the Premises (whether or not attached thereto or built therein)
at the sole expense of Tenant (and with respect to which no credit
or allowance shall have been granted to Tenant by Landlord and
which were not furnished and installed in replacement of any items
which Tenant would not be entitled to remove in accordance with
this Article 4) (a) may be removed from the Building by
Tenant at any time prior to the expiration of the term hereof, and
(b) shall, if and to the extent requested by Landlord (at the time
Landlord grants its consent to the placement of such Appurtenances
if required), be removed from the Building by Tenant prior to such
expiration or termination of the Lease (or with reasonable
promptness thereafter). If Tenant fails to remove/repair any
damage, the cost and expense of any such removal and the cost and
expense of repairing any damage to the Premises or to the Building
arising from removal shall be paid by Tenant within thirty
(30) days of demand by Landlord. If any Appurtenances which as
aforesaid may or are required to be removed from the Building by
Tenant are not removed by Tenant from the Building within the time
above specified therefor, then Landlord (in addition to all other
rights and remedies to which Landlord may be entitled at any time)
may at its election (after written notice to Tenant with a
reasonable opportunity for Tenant to remove same) deem that the
same has been abandoned by Tenant to Landlord, but no such election
shall relieve Tenant of Tenant’s obligation to pay the
expense of removing the same from the Building or the expense of
repairing damage to the Premises or to the Building arising from
such removal.
Section 4.02. All the perimeter walls of the Premises,
any balconies, terraces or roofs adjacent to the Premises, and any
space in and/or adjacent to the Premises used for shafts,
stairways, stacks, pipes, vertical conveyors, mail chutes,
pneumatic tubes, conduits, ducts, electric or other utilities,
rooms containing elevator or air conditioning machinery and
equipment, sinks or other similar or dissimilar Building
facilities, and the use thereof, as well as access thereto through
the Premises for the purposes of such use and the operation,
improvement, replacement, addition, repair, maintenance and/or
decoration thereof, are (unless allowed for in writing herein)
expressly reserved to Landlord. Landlord agrees to exercise such
rights of use and access in or to the Premises upon prior notice to
Tenant (except in case of emergency), and in a manner intended to
minimize disruption to Tenant’s business.
5
Section 4.03. Landlord shall, at its expense (subject
to reimbursement pursuant to the provisions of Article 26
hereof) keep and maintain the Building, including the landscaping
of the Land and its fixtures, appurtenances and facilities serving
the Premises, exterior windows of the Building and common area
facilities, including the parking areas of the Building, the roof
of the Building and the structure of the Building, the plumbing,
bathrooms, (excluding any specifically installed bathrooms for the
private use of Tenant), HVAC, electrical and mechanical systems as
well as common areas serving the Building in good condition and
repair.
Section 5.01. Tenant (and if applicable Landlord)
covenants and agrees that Tenant (and if applicable Landlord)
will:
(a) Take good
care of the Premises, and pay to Landlord the reasonable expense of
making good any damage or breakage to the applicable part of the
Premises that Tenant is obligated to repair pursuant to any of the
provisions of this Lease, but did not, provided such damage or
breakage was caused or done by or on behalf of Tenant, its agents,
subtenants or employees, and not caused or done by Landlord, its
agents or employees, and excluding reasonable wear and tear and
damage or loss by fire or other casualty.
(b) Faithfully
observe and comply with the rules and regulations annexed hereto
and such additional reasonable rules and regulations as Landlord
hereafter at any time or from time to time may uniformly enact for
all similarly situated tenants in the Building and as Tenant is
notified of in writing, which rules and regulations, in the
reasonable judgment of Landlord, shall be necessary or desirable
for the reputation, safety, care or appearance of the Building, or
the preservation of good order therein, or the operation or
maintenance of the Building, or the equipment thereof, or the
comfort of tenants or others in the Building; provided, however,
(i) that in the case of any conflict between the provisions of
this Lease and any such rule or regulation, the provisions of this
Lease shall control, (ii) that while Landlord shall endeavor
to apply the rules and regulations in a uniform and
non-discriminatory manner towards similarly situated tenants,
nothing contained in this Lease shall be construed to impose upon
Landlord any duty or obligation to enforce the rules and
regulations or the terms, covenants or conditions in any other
lease as against any other tenant, (iii) that Landlord shall
not be liable to Tenant for violation of the same by any other
tenant, its employees, agents, visitors, invitees, subtenants or
licensees, and (iv) that no such future rules or regulations
shall materially increase Tenant’s obligations or materially
decrease Tenant’s rights under this Lease.
(c) Permit
Landlord and any mortgagee of the Building and/or the Land or of
the interest of Landlord therein and any lessor under any ground or
underlying lease, and their representatives, to enter the Premises
at all reasonable hours (upon reasonable prior notice) for the
purposes of
6
inspection, or
of making repairs, replacements or improvements in or to the
Premises or the Building or equipment therein, or of complying with
all laws, orders and requirements of governmental or other
authority or of exercising any right reserved to Landlord by this
Lease (including the right during the progress of any such repairs,
replacements or improvements or while performing work and
furnishing materials in connection with compliance with any such
laws, orders or requirements, to keep and store within the Premises
all necessary materials, tools and equipment) provided such shall
be done in such a manner as to minimize any interruption to
Tenant’s business.
(d) Make no
claim against Landlord or any lessor under any ground or underlying
lease for any injury or damage to Tenant or to any other person or
for any damage to, or loss (by theft or otherwise) of, or loss of
use of, any property of Tenant or of any other person, irrespective
of the cause of such injury, damage or loss, unless caused by the
negligence of Landlord, its agents or employees, in the operation
or maintenance of the Premises or the Building. No property other
than such as might normally be brought upon or kept in the Premises
as an incident to the reasonable use of the Premises for the
purposes specified in this Lease shall be brought upon or kept in
the Premises.
(e) Except
for minor cosmetic and decorating for which Landlord’s
approval shall not be unreasonably withheld, make no alterations,
improvements, installations, repairs, additions, or replacements
(hereinafter collectively called “Tenant’s
Changes”) in, to or about the Premises without
Landlord’s prior written consent, and then only by
contractors or mechanics reasonably approved by Landlord.
Tenant’s Changes shall be done at Tenant’s sole expense
and at such times and in such manner as Landlord may from time to
time reasonably designate. Prior to the commencement of any
Tenant’s Changes, Tenant shall submit to Landlord, for
Landlord’s written approval, plans and specifications (to be
prepared by and at the expense of Tenant) of such proposed
Tenant’s Changes in detail reasonably satisfactory to
Landlord. In no event shall any material or equipment be
incorporated in or to the Premises in connection with any such
Tenant’s Changes which is subject to any lien, security
agreement, charge, mortgage or other encumbrances of any kind
whatsoever or is subject to any conditional sale or other similar
or dissimilar title retention agreement. Any mechanic’s lien
filed against the Premises or the Building for work done for, or
claimed to have been done for, or materials furnished to, or
claimed to have been furnished to Tenant shall be discharged by
Tenant within ten (10) days thereafter, at Tenant’s
expense, by filing the bond required by law or otherwise. All
Tenant’s Changes shall at all times comply with
(1) laws, rules, orders and regulations of governmental
authorities having jurisdiction thereof, (2) rules and
regulations of Landlord, and (3) plans and specifications
prepared by and at the expense of Tenant theretofore submitted to
Landlord for Landlord’s prior written reasonable approval. No
Tenant’s Changes shall be undertaken, started or begun by
Tenant or by its agents, employees, contractors or anyone else
acting for or on behalf of Tenant until Landlord has approved such
plans and specifications, and no amendments or additions to such
plans and specifications shall be made without the prior written
reasonable consent of Landlord. Tenant agrees that it will not at
any time prior to or during the term of this Lease, either directly
or indirectly, use any contractors and/or labor and/or materials if
the use of such contractors and/or labor and/or materials would or
will create any unreasonable difficulty with other contractors
and/or labor engaged by Tenant or Landlord or others
7
in the
construction, maintenance and/or operation of the Building or any
part thereof.
(f) Not
violate, or permit the violation of, any condition imposed by the
standard fire insurance policy issued for office buildings in the
County of Fairfield and State of Connecticut, nor do anything or
permit anything to be done, or keep anything or permit anything to
be kept, in the Premises, which would increase the fire or other
casualty insurance rate on the Building or the property therein, or
which would result in insurance companies of good standing refusing
to insure the Building or any such property in amounts and against
risks as reasonably determined by Landlord. Landlord represents
that Tenant’s permitted uses (as set forth in section 1.03)
will not cause any increase in insurance rates on the
Building.
(g) Permit
Landlord, at reasonable times, on reasonable prior notice, to show
the Premises to any lessor under any ground or underlying lease, or
any ground lessee or mortgagee, or any prospective purchaser,
ground lessee, mortgagee, or assignee of any mortgage, of the
Building and/or the Land or of Landlord’s interest therein,
and their representatives, and during the period of twelve
(12) months next preceding the date of expiration of the term
hereof with respect to any part of the Premises similarly show any
part of the Premises to any person contemplating the leasing of all
or a portion of the same.
(h) At the
end of the term, quit and surrender to Landlord the Premises
broom-clean and in good order and condition except for ordinary
wear and tear and damage by fire and/or other casualty. Any
personal property which shall remain in the Premises after the
expiration or termination of the term of this Lease shall be deemed
to have been abandoned, and either may be retained by Landlord as
its property or may be disposed of in such manner as Landlord may
see fit; provided, however, that, notwithstanding the foregoing,
Tenant will, upon request of Landlord made not later than thirty
(30) days after the expiration or termination of the term
hereof, promptly remove from the Building any such personal
property at Tenant’s own cost and expense. If the last day of
the term of this Lease falls on Sunday or a legal holiday, this
Lease shall expire on the business day immediately
preceding.
(i) At any
time and from time to time upon not less than five
(5) days’ prior notice by Landlord to Tenant, execute,
acknowledge and deliver to Landlord, or to anyone Landlord shall
designate, a statement of Tenant (or if Tenant is a corporation,
signed by an appropriate officer of Tenant on behalf of said
corporation) in writing certifying that this Lease is unmodified
and in full force and effect (or if there have been modifications,
that the same is in full force and effect as modified and stating
the modifications), specifying the dates to which the Fixed Rent,
additional rent and other charges have been paid in advance, if
any, and stating whether or not to the best knowledge of the signer
of such certificate Landlord is in default in performance of any
provision of this Lease and if so, specifying each such default of
which the signer may have knowledge, it being intended that any
such statement so delivered may be relied upon by any lessor under
any ground or underlying lease, or any lessee or mortgagee, or any
prospective purchaser, lessee, mortgagee, or assignee of any
mortgage, of the Building and/or the Land or of Landlord’s
interest therein.
8
(j) (i) Indemnify,
defend and save harmless, Landlord, Clarion Partners, Albert D.
Phelps, Inc. and any mortgagee and any lessor under any ground or
underlying lease, and their respective officers, directors,
contractors, agents and employees, from and against any and all
liability (statutory or otherwise), claims, suits, demands,
damages, judgments, costs, interest and expenses (including, but
not limited to, counsel fees and disbursements incurred in the
defense of any action or proceeding), to which they may be subject
or which they may suffer by reason of, or by reason of any claim
for, any injury to, or death of, any person or persons or damage to
property (including any loss of use thereof) or otherwise arising
from or in connection with the use of or from any work,
installation or thing whatsoever done (other than by Landlord or
its contractors or the agents or employees of either) in the
Premises or Building prior to, during, or subsequent to, the term
of this Lease or arising from any condition of the Premises or
Building due to or resulting from any default by Tenant in the
performance of Tenant’s obligations under this Lease or from
any act, omission or negligence of Tenant or any of Tenant’s
officers, directors, agents, contractors, employees, subtenants,
licensees or invitees.
(ii) Indemnify,
defend and save harmless, Tenant from and against any and all
liability (statutory or otherwise), claims, suits, demands,
damages, judgments, costs, interest and expenses (including, but
not limited to, counsel fees and disbursements incurred in the
defense of any action or proceeding), to which it may be subject or
which it may suffer by reason of, or by reason of any claim for,
any injury to, or death of, any person or persons or damage to
property (including any loss of use thereof) or otherwise arising
from or in connection with the use of or from any work,
installation or thing whatsoever done (other than by Tenant or its
contractors or the agents or employees of either) in the Premises
or Building prior to, during, or subsequent to, the term of this
Lease or arising from any condition of the Premises or Building due
to or resulting from any default by Landlord in the performance of
Landlord’s obligations under this Lease or from any act,
omission or negligence of Landlord or any of Landlord’s
officers, directors, agents, contractors, employees, subtenants,
licensees or invitees.
(k) Tenant at
Tenant’s own cost and expense, shall maintain
insurance:
(i) protecting and
indemnifying Landlord and Tenant against any and all claims for
injury or damage to persons or property or for the loss of life or
of property occurring upon, in or about the Premises, and the
public portions of the Building used by Tenant, its employees,
agents, contractors, customers, and invitees; and Tenant’s
contractual obligation to indemnify Landlord as provided under the
next preceding subparagraph hereof; such insurance shall be a
combined single limit policy for bodily injury and property damage
in an amount of not less than $5,000,000.00; and
(ii) name
Landlord, Clarion Partners and Albert D. Phelps, Inc. as additional
insureds. Such policy shall be written on an “occurrence
basis” including without limitation, blanket contractual
liability coverage, broad form property damage, independent
contractor’s coverage and personal injury coverage. Tenant
shall also carry workers’ compensation and employer’s
liability coverage; and
9
(iii) “All
Risk” property damage insurance covering Tenant’s
inventory, personal property, business records, furniture, floor
coverings, trade fixtures, and equipment and all work installed by
Tenant for damage and loss caused by fire or other casualty or
cause including, but not limited to, vandalism and malicious
mischief, theft, explosion, business interruption and water damage
of any type, including sprinkler leakage, bursting and stoppage of
pipes. Tenant’s property damage insurance shall include full
replacement cost coverage and the amount shall satisfy any
coinsurance requirements under the applicable policy and the
deductible shall not exceed $1,000.00.
All such insurance
shall be effected under valid and enforceable policies (which may
cover the Premises and other locations); shall be issued by
insurers of recognized responsibility acceptable to Landlord with a
minimum Best’s rating of A-VI and shall contain a provision
whereby the insurer agrees not to cancel the insurance without
thirty (30) days’ prior written notice to
Landlord.
Landlord shall
maintain 100% full replacement value casualty and extended coverage
on the Building and public liability insurance in an amount not
less than that required by Tenant in subsection (k)(i)
above.
On or before the
Term Commencement Date, Tenant shall furnish Landlord with a
certificate evidencing the aforesaid insurance coverages, and
renewal certificates shall be furnished to Landlord at least thirty
(30) days prior to the expiration date of each policy for
which a certificate was theretofore furnished.
Changes or Alterations by
Landlord
Section 6.01. Landlord reserves the right to make such
changes, alterations, additions, improvements, repairs or
replacements in or to the Building (including the Premises) and the
fixtures and equipment thereof, as well as in or to the street
entrances, halls, passages, elevators, escalators, stairways and
other parts thereof, and to erect, maintain and use pipes, ducts
and conduits in and through the Premises, all as Landlord may deem
necessary or desirable; provided, however, that there be no
unreasonable obstruction of the means of access to the Premises or
unreasonable interference with the use of the Premises and that
Landlord shall use reasonable efforts to complete such changes,
alterations, additions, improvements, repairs and/or replacements
in an expeditious manner. Nothing contained in this Article 6
shall relieve Tenant of any duty, obligation or liability of Tenant
with respect to making any repair, replacement or improvement or
complying with any law, order or requirement of any governmental or
other authority.
Section 6.02. Landlord reserves the right to name the
Building and to change the name or address of the Building at any
time and from time to time. Neither this Lease nor any use by
Tenant shall give Tenant any easement or other right in or to the
use of any door or any passage or
10
any concourse
or any plaza connecting the Building with any other building or to
any public convenience, and the use of such doors, passages,
concourses, plazas and conveniences may without notice to Tenant be
regulated or discontinued at any time by Landlord. If at any time
any windows of the Premises are temporarily darkened or obstructed
incident to or by reason of repairs, replacements, maintenance
and/or cleaning in, on, to or about the Building or any part or
parts thereof or are temporarily or permanently closed or rendered
inoperable, then, except as otherwise specifically provided in this
Lease, Landlord shall not be liable for any damage Tenant may
sustain thereby and Tenant shall not be entitled to any
compensation therefor nor abatement of rent nor shall the same
release Tenant from its obligation hereunder nor constitute an
eviction.
Section 6.03. There shall be no allowance to Tenant for
a diminution of rental value and no liability on the part of
Landlord by reason of inconvenience, annoyance or injury to
business arising from the making by Landlord, Tenant or others of
any changes, alterations, additions, improvements, repairs or
replacements in or to any portion of the Building (or, as permitted
by and consistent with the provisions of Section 6.01 above,
to the Premises), or in or to fixtures, appurtenances or equipment
therein, and no liability on the part of Landlord for failure of
Landlord or others to make any changes, alterations, additions,
improvements, repairs or replacements in or to any portion of the
Building or the Premises, or in or to the fixtures, appurtenances
or equipment therein. Notwithstanding the foregoing, Landlord shall
use all reasonable efforts to minimize interference with
Tenant’s use and occupancy of the Premises.
Section 7.01 . If any part of the Premises shall be
damaged by fire or other casualty, Tenant shall give prompt written
notice thereof to Landlord and Landlord shall proceed with
reasonable diligence, and in a manner consistent with the
provisions of any underlying lease and any underlying mortgage, to
repair such damage, and if any part of the Premises shall be
rendered untenantable by reason of such damage such that Tenant in
its reasonable judgment is unable to conduct its business from the
remaining undamaged portion of the Premises then, provided Tenant
actually ceases its business operations thereat as a result of such
damage, the annual Fixed Rent and additional rent payable hereunder
shall be abated to the extent that such Fixed Rent and additional
rent relates to such part of the Premises for the period from the
later of the date of such damage or the date of such cessation of
Tenant’s business until the date when such damaged part of
the Premises shall have been made tenantable or to such earlier
date upon which the full term of this Lease with respect to such
part of the Premises shall have expired or terminated. Landlord
shall not be liable for any inconvenience or annoyance to Tenant or
injury to the business of Tenant resulting in any way from such
damage or the repair thereof provided Landlord shall cause as
little interference as reasonably possible. Tenant understands that
Landlord will not carry insurance of any kind on Tenant’s
Property, to wit, Tenant’s goods, furniture or furnishings or
any fixtures, equipment, improvements, installations or
appurtenances removable by Tenant as provided in this Lease,
and
11
that Landlord
shall not be obligated to repair any damage thereto or replace the
same.
Section 7.02. If substantial alteration or
reconstruction of the Premises or the Building shall, in the
opinion of Landlord be required as a result of damage by fire or
other casualty (whether or not the Premises shall have been damaged
by such fire or other casualty), or if such substantial alteration
or reconstruction is not feasible or possible, then this Lease and
the term and estate hereby granted may be terminated by Landlord or
Tenant by its giving to the other within one hundred eighty
(180) days after the date of such damage written notice
specifying a date, not less than thirty (30) days after the
giving of such notice, for such termination. In the event of the
giving of such notice of termination, this Lease and the term and
estate hereby granted shall expire as of the date specified
therefor in such notice with the same effect as if such date were
the date hereinbefore specified for the expiration of the full term
of this Lease, and the Fixed Rent and additional rent payable
hereunder shall be apportioned as of such date of termination,
subject to abatement, if any, as and to the extent provided in
Section 7.01 hereof.
Section 7.03. Each party agrees to endeavor to have
included in each of its fire, casualty and other hazard insurance
policies insuring the Building and Landlord’s property
therein, in the case of Landlord, and insuring Tenant’s
property in the Premises, in the case of Tenant, against loss,
damage or destruction by fire or other casualty therein covered a
waiver of the insurer’s right of subrogation against the
other party, or if such waiver is unobtainable or unenforceable,
(a) an express agreement that such policy shall not be
invalidated if the insured waives, before the casualty, the right
of recovery against any party responsible for a casualty covered by
the policy or (b) any other form of permission for the release
of the other party. If such waiver, agreement or permission shall
not be, or shall cease to be, obtainable (i) without
additional charge, or (ii) at all, the insured party shall so
notify the other party promptly after learning thereof. In the
first such case, if the other party shall so elect and shall pay
the insurer’s additional charge therefor, such waiver,
agreement or permission shall be included in the policy.
Section 7.04. Each party hereby releases the other
party with respect to any claim (including a claim for negligence)
which it might otherwise have against the other party for loss,
damage or destruction with respect to its property occurring during
the term of this Lease to the extent to which it is insured under a
policy or policies containing a waiver of subrogation or permission
to release liability, as provided in Section 7.03 hereof. If,
notwithstanding the recovery of insurance proceeds by either party
for such loss, damage or destruction of its property, the other
party is liable to the first party with respect thereto or is
obligated under this Lease to make replacement, repair or
restoration or payment, then (provided the first party’s
right of full recovery under its insurance policies is not thereby
prejudiced or otherwise adversely affected) the amount of the net
proceeds of the first party’s insurance against such loss,
damage or destruction shall be offset against the second
party’s liability to the first party therefor, or shall be
made available to the second party to pay for replacement, repair
or restoration, as the case may be. Nothing contained in this
Section 7.04 shall relieve either party of any duty imposed
elsewhere in this lease to repair, restore or rebuild or nullify
any abatement of rent provided for elsewhere in this
Lease.
12
Section 7.05. This Lease shall be considered an express
agreement governing any case of damage to or destruction of the
Building or any part thereof by fire or other casualty and any
statute providing for such a contingency in the absence of express
agreement, and any other law of like import now or hereafter in
force, shall have no application in such case.
Section 8.01. In the event that the whole of the
Premises shall be lawfully condemned or taken in any manner for any
public or quasi-public use, this Lease and the term and estate
hereby granted shall forthwith cease and terminate as of the date
of vesting of title. In the event that only a part of the Premises
shall be so condemned or taken, then, effective as of the date of
vesting of title, the Fixed Rent and additional rent hereunder
shall be abated in an amount thereof apportioned according to the
area of the Premises so condemned or taken. In the event that only
a part of the Building shall be so condemned or taken, then
(a) Landlord (whether or not the Premises is affected) may, at
Landlord’s option, terminate this Lease and the term and
estate hereby granted as of the date of such vesting of title by
notifying Tenant in writing of such termination within sixty
(60) days following the date on which Landlord shall have
received notice of vesting of title, or (b) if such
condemnation or taking shall be of a substantial part of the
Premises or of a substantial part of the means of access thereto,
Tenant may, at Tenant’s option, by delivery of notice in
writing to Landlord within sixty (60) days following the date
on which Tenant shall have received notice of vesting of title,
terminate this Lease and the term and estate hereby granted as of
the date of vesting of title, or (c) if neither Landlord nor
Tenant elects to terminate this Lease, as aforesaid, this Lease
shall be and remain unaffected by such condemnation or taking
except that the Fixed Rent and additional rent payable hereunder
shall be abated to the extent, if any, hereinbefore provided in
this Article 8. In the event that only a part of the Premises
shall be so condemned or taken and this Lease and the term and
estate hereby granted with respect to the remaining portion of the
Premises are not terminated as hereinbefore provided, Landlord
will, with reasonable diligence and at its expense, restore the
remaining portion of the Premises as nearly as practicable to the
same condition as it was in prior to such condemnation or
taking.
Section 8.02. In the event of the termination in any of
the cases hereinbefore provided, this Lease and the term and estate
hereby granted shall expire as of the date of such termination with
the same effect as if that were the date hereinbefore set for the
expiration of the full term of this Lease, and the Fixed Rent and
all additional rent payable hereunder shall be apportioned as of
such date.
Section 8.03. In the event of any condemnation or
taking hereinbefore mentioned of all or a part of the Building,
Landlord shall be entitled to receive the entire award in the
condemnation proceeding, including any award made for the value of
the estate vested by this Lease in Tenant, and Tenant hereby
expressly waives any and all right, title and interest of Tenant
now or hereafter arising
13
in and to any
such award or any part thereof and assigns the same to Landlord,
and Tenant shall be entitled to receive no part of such award and
shall have no claim against Landlord on account thereof. Tenant
shall have the right to seek a separate award for its trade
fixtures and relocation expenses.
Section 8.04. It is expressly understood and agreed
that the provisions of this Article 8 (other than the
abatement provisions) shall not be applicable to any condemnation
or taking for governmental occupancy for a limited
period.
Section 9.01 . Tenant, at Tenant’s expense, shall
comply with all laws and ordinances, and all rules, orders and
regulations of all governmental authorities and of all insurance
bodies, at any time duly issued or in force, applicable to the
Premises or any part thereof or to Tenant’s use thereof,
except that Tenant shall not hereby be under any obligation to
comply with any law, ordinance, rule, order or regulation requiring
any structural alteration of or in connection with the Premises,
unless such alteration is required by reason of a condition which
has been created by, or at the instance of, Tenant, or is
attributable to the use or manner of use to which Tenant puts the
Premises, or is required by reason of a breach of any of
Tenant’s covenants and agreements hereunder. Where any
structural alteration of or in connection with the Premises is
required by any such law, ordinance, rule, order or regulation,
and, pursuant to an express exception hereinabove contained, Tenant
is not under any obligation to make such alteration, then Landlord
shall make such alteration and pay the cost thereof reasonably
promptly and with minimal interference with Tenant’s use of
the Premises.
Section 9.02. (a) If Tenant becomes aware of any
inquiry, investigation or administrative, judicial or other
proceeding regarding Hazardous Substances or the violation of any
Environmental Laws with respect to the Building and Land, Tenant
shall, within five days after first learning of same, give Landlord
written notice of the same, and provide all available information
regarding each inquiry, investigation or proceeding.
(b) Tenant
shall not cause or permit, as the result of any intentional or
unintentional act or omission on the part of Tenant, its agents,
employees, contractors, licensees, invitees, subtenants or other
occupants of the Premises to store, use, possess, dispose or
release or threaten to release Hazardous Substances in, on or from
any portion of the Building or the Land except small quantities of
customary office products which may be stored, used, possessed and
disposed of in compliance with all Environmental Laws.
(c) Tenant
shall not cause or permit, as the result of any intentional or
unintentional act or omission on the part of Tenant, its agents,
employees, contractors, licensees, invitees, subtenants
or
14
other occupants
of the Premises, any violation of any Environmental Law.
(d) Tenant
shall indemnify, defend and hold harmless Landlord, Clarion
Partners, any property manager(s) engaged by Landlord, their
successors and assigns, each of their affiliates, parents and
subsidiaries, and all partners, trustees, shareholders, agents,
directors, officers and employees of any of the foregoing from and
against any and all claims, demands, penalties, fines, liabilities,
settlements, suits, damages, losses, injuries, costs and expenses
of whatever kind or nature, known or unknown, contingent or
otherwise, including, without limitation, attorneys’ and
consultants’ fees and disbursements and investigation and
laboratory fees arising out of, and in any way related to:
(i) the storage, use, possession, presence, disposal, release,
or threat of release of any Hazardous Substance as a result of any
act or omission of Tenant, its agents, employees, contractors,
licensees, invitees, subtenants or other occupants of the Premises,
in, on, from or affecting the Building or the Land; (ii) any
personal injury (including, without limitation, wrongful death) or
property damage (real or personal) arising out of or related to any
such Hazardous Substance; (iii) any lawsuit brought or
threatened, settlement reached or government order relating to such
Hazardous Substance; and/or any intentional or unintentional act or
omission on the part of Tenant, its agents, employees, contractors,
licensees, invitees, subtenants or other occupants of the Premises
which violate any Environmental Law.
(e) “Hazardous
Substances” shall mean to include but not be limited to:
“solid wastes,” “hazardous wastes,”
“hazardous materials,” “hazardous
substances,” “petroleum products,” “toxic
substances,” “toxic pollutants,”
“pollutants,” “contaminants,” “solid
wastes,” or “regulated substances” as defined in
the Resource Conservation and Recovery Act, the Comprehensive
Environmental Response Compensation and Liability Act of 1980, the
Clean Water Act, the Clean Air Act, the Safe Drinking Water Act,
the Occupational Safety and Health Act, the Compensation and
Liability Act, the Hazardous Material Transportation Act, the
Federal Water Pollution Control Act, the Superfund Amendments and
Reauthorization Act of 1986, the Toxic Substances Control Act, the
Oil Pollution Act of 1990, any laws relating to underground storage
tanks, and any newly promulgated or similar or successor federal
law, state law or local statutes and ordinances, rules, regulations
and policies promulgated thereunder, as any of such federal, state
and local statutes, ordinances, rules, regulations and policies may
be amended, modified or supplemented from time to time
(collectively, “Environmental Laws”). Hazardous
Substance shall also be deemed to include petroleum and petroleum
products, radioactive materials, polychlorinated biphenyls and
polychlorinated biphenyl-containing equipment and asbestos.
Environmental Laws also includes all regulations, orders, plans,
decrees, judgments, injunctions, notices and demand letters issued,
entered, promulgated and approved by any court, agency, bureau or
other governmental body or authority with relevant
jurisdiction.
(f) The
covenants and indemnity in this Article shall survive the
expiration or earlier termination of this Lease.
(g) Landlord
represents and certifies to Tenant that, to the best of
Landlord’s knowledge and belief, the Premises and all common
areas of the Building are on the date of this Lease in
15
substantial
compliance with the requirements of all federal, state and local
laws, and any regulations promulgated thereunder, including any
laws relating to the environmental condition of the Building or the
health and safety of individuals using the Building. Landlord
agrees to indemnify, defend and hold Tenant harmless from any
costs, claims, damages or expenses of any kind arising from any
failure of the Premises or any common area of the Building to
comply with any such law or regulation, except to the extent such
failure is the result of Tenant’s operations at the
Premises.
Section 9.03. Tenant shall, at Tenant’s sole cost
and expense, comply with any and all requirements of any statute,
rule, ordinance, order, regulation or notice of any Governmental
Authority relating to the recycling of waste generated by tenants
of the Building (collectively, the “Recycling Laws”),
including without limitation, Connecticut Public Act 87-544 and the
regulations promulgated pursuant thereto. Without limiting the
generality of the foregoing, Tenant shall, at Tenant’s sole
cost and expense, separate all solid waste in accordance with, and
otherwise comply with, the requirements of such Recycling Laws and
any recycling plan in effect from time to time in the Building and,
in the event Landlord is required to separate any solid waste
generated by Tenant or Landlord otherwise incurs any costs or
expenses in connection with the recycling of Tenant’s solid
waste, such cost or expense shall be in each instance collectible
as additional rent on the first day of the month following the date
of payment by Landlord.
Accidents to Plumbing and Other
Systems
Section 10.01. Tenant shall give to Landlord prompt
written notice of any damage to, or defective condition in, any
part or appurtenance of the Building’s plumbing, electrical,
heating, air conditioning or other systems serving, located in, or
passing through, the Premises. Any such damage or defective
condition shall be remedied by Landlord with reasonable diligence,
but if such damage or defective condition was caused by, or
resulted from, the negligence of or misuse by Tenant or its
employees, agents, licensees or invitees, the cost of the remedy
thereof shall be paid by Tenant unless otherwise covered by
insurance. Tenant shall not be entitled to claim any damages
arising from any such damage or defective condition unless the same
shall have been caused by the negligence of Landlord in the
operation or maintenance of the Premises or Building and the same
shall not have been remedied by Landlord with reasonable diligence
after written notice thereof from Tenant to Landlord; nor shall
Tenant be entitled to claim any eviction by reason of any such
damage or defective condition unless the same shall have rendered
the Premises untenantable and the Premises shall not have been made
tenantable by Landlord within a reasonable time after written
notice thereof from Tenant to Landlord, If the Premises are
untenantable for a period of five (5) consecutive business
days, Fixed Rent shall abate until such condition is
cured.
16
Section 11.01. Any notice, consent, approval, request,
bill, demand or statement hereunder by either party to the other
party shall be in writing and shall be effective upon receipt or
refusal of receipt and shall be deemed to have been duly given if
(i) delivered personally to such other party; (ii) sent
by registered or certified mail; or (iii) sent by registered
overnight courier, in any case addressed to such other party, which
address for Landlord shall be 401 Merritt 7, P. O. Box 5101,
Norwalk, CT 06856 (Attention: John P. Crosby) and for the Tenant
shall be the Premises (or Tenant’s address as hereinbefore
set forth if mailed prior to Tenant’s occupancy of the
Premises), or if the address of such other party for notices shall
have been duly changed as hereinafter provided, if delivered or
mailed, as aforesaid, to such other party at such changed address.
Either party may at any time change the address for such notices,
consents, approvals, requests, bills, demands or statements by
delivering or mailing, as aforesaid, to the other party a notice
stating the change and setting forth the changed address. If the
term Tenant as used in this Lease refers to more than one person,
any notice, consent, approval, request, bill, demand or statement
given as aforesaid to any one of such persons shall be deemed to
have been duly given to Tenant.
Section 12.01 . This Lease and the term and estate
hereby granted are subject to the limitation that:
(a) in case
Tenant shall make an assignment of substantially all of its
property for the benefit of creditors or shall file a petition in
bankruptcy or insolvency, or an involuntary petition under any
bankruptcy or insolvency law shall be filed against Tenant, and
such assignment or petition is not dismissed or withdrawn within
sixty (60) days after the filing thereof,
(b) in case
of the reorganization of Tenant, whether pursuant to the Federal
Bankruptcy Code or any similar federal or state proceeding, unless
such reorganization is withdrawn or dismissed within sixty
(60) days after its filing,
(c) in case a
permanent receiver, trustee or liquidator shall be appointed for
Tenant or of or for substantially all of the property of Tenant,
and such receiver, trustee or liquidator shall not have been
discharged and such appointment withdrawn within sixty
(60) days from the date of appointment,
(d) in case
Tenant shall (and such default shall continue for 5 days after
Landlord shall have given to Tenant a written notice specifying
such default) (i) fail to pay in full any monthly
17
installment of
any Fixed Rent payable hereunder by its respective due date, and
such installment of Fixed Rent shall remain partially or fully
unpaid for a period of ten (10) days after the date upon which
such payment of Fixed Rent became due, or (ii) fail to pay in
full any payment of any additional rent or any other charge (other
than Fixed Rent) payable hereunder by Tenant to Landlord by the
date upon such respective payment of additional rent or other
charge (other than Fixed Rent) payable hereunder became
due,
(e) in case
Tenant shall default in the due keeping, observing or performance
of any covenant, agreement, term, provision or condition of either
Section 1.03 or Article 3 hereof on the part of Tenant to
be kept, observed or performed and if such default shall continue
and shall not be remedied by Tenant within ten (10) days after
Landlord shall have given to Tenant a written notice specifying the
same,
(f) in case
Tenant shall default in the due keeping, observing or performance
of any covenant, agreement, term, provision or condition of this
Lease on the part of Tenant to be kept, observed or performed
(other than a default of the character referred to in clauses
(d) or (e) of this Section 12.01), and if such default
shall continue and shall not be remedied by Tenant within fifteen
(15) days after Landlord shall have given to Tenant a written
notice specifying the same, or, in the case of such a default which
for causes beyond Tenant’s control cannot with due diligence
be cured within said period of fifteen (15) days, if Tenant
(i) shall not, promptly upon the giving of such notice, advise
Landlord in writing of Tenant’s intention to take all steps
necessary to remedy such default with due diligence,
(ii) shall not duly institute and thereafter diligently
prosecute to completion all steps necessary to remedy the same, or
(iii) shall not remedy the same within reasonable time after
the date of the giving of said notice by Landlord, or
(g) in case
any event shall occur or any contingency shall arise whereby this
Lease or the estate hereby granted or the unexpired balance of the
term hereof would, by operation of law or otherwise, devolve upon
or pass to any firm, association, corporation, person, or entity
other than Tenant except as expressly permitted under
Article 25 hereof, or whenever, while rent remains unpaid or
is in arrears, Tenant shall desert or abandon the Premises or the
same shall become vacant (whether the keys be surrendered or not),
or
(h) in case
any other lease held by Tenant from Landlord shall expire and
terminate (whether or not the term thereof shall then have
commenced) as a result of the default of Tenant thereunder or of
the occurrence of any event as therein provided (other than by
expiration of the full term thereof or pursuant to a cancellation
or termination option therein contained),
Then in any of
said cases Landlord may at its option:
give to Tenant
a notice of intention to end the term of this Lease at the
expiration of three (3) days from the date of the giving of such
notice, and, in the event such notice is given, this Lease and the
term and estate hereby granted (whether or not the term shall
theretofore have commenced) shall expire and terminate upon the
expiration or said three (3) days with
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the same effect
as if that day were the date hereinbefore set for the expiration of
the full term of this Lease,
re-enter the
Premises without terminating this Lease;
but Tenant
shall be or remain liable for damages as provided in this Lease or
pursuant to law. If the term Tenant, as used in the Lease, refers
to more than one person, then, as used in clauses (a), (b) and
(c) of this Section 12.01, said term shall be deemed to
include all of such persons or any one them; if any of the
obligations of Tenant under this Lease is guaranteed, the term
“Tenant” as used in said clauses shall be deemed to
include also the guarantor or, if there be more than one guarantor,
all or any one of them; and, if this Lease shall have been
assigned, the term “Tenant,” as used in said clauses,
shall be deemed to include the assignee and the assignor or either
of them under any such assignment unless Landlord shall, in
connection with such assignment, release the assignor from any
further liability under this Lease, in which event the term
“Tenant” as used in said clauses, shall not include the
assignor so released.
Section 13.01. If Tenant shall default in the payment
of any Fixed Rent or additional rent or any other charge payable
hereunder by Tenant to Landlord on any date upon which the same
becomes due, and if such default shall continue for ten
(10) days after Landlord shall have given to Tenant a written
notice specifying such default, or if this Lease shall terminate as
in Article 12 hereof provided, Landlord or Landlord’s
agents and servants may immediately or at any time thereafter
re-enter into or upon the Premises, or any part thereof, in the
name of the whole, either by summary dispossess proceedings or by
any suitable action or proceeding at law, or by force or otherwise,
without being liable to indictment, prosecution or damages
therefor, and may repossess the same, and may remove any persons
therefrom, to the end that Landlord may have, hold and enjoy the
Premises again as and of its first estate and interest therein. The
words “re-enter,” ‘“re-entry” and
“re-entering” as used in this Lease are not restricted
to their technical legal meanings.
Section 13.02. In the event of any termination of this
Lease under the provisions of Article 12 hereof or in the
event that Landlord shall re-enter the Premises under the
provisions of Article 12 or this Article 13 or in the
event of the termination of this Lease (or of re-entry without
termination) by or under any summary dispossess or other proceeding
or action or other measure undertaken by Landlord for the
enforcement of its aforesaid right of re-entry or any provision of
law (any such termination of this Lease, or re-entry without
termination, being hereinafter called a “Default
Termination” or “Default Re-Entry,” as the case
may be), Tenant shall thereupon pay to Landlord the Fixed Rent,
additional rent and any other charge payable hereunder by Tenant
to
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Landlord up to
the time of such Default Termination or Default Re-Entry, or of
such recovery of possession of the Premises by Landlord, as the
case may be, and shall also pay to Landlord damages as provided in
Article 14 hereof or pursuant to law. Also, in the event of a
Default Termination or Default Re-Entry Landlord shall be entitled
to retain all moneys, if any paid by Tenant to Landlord, whether as
advance rent, security or otherwise, but such monies shall be
credited by Landlord against any Fixed Rent, additional rent or any
other charge due from Tenant at the time of such Default
Termination or Default Re-Entry or, at Landlord’s option,
against any damages payable by Tenant under Article 14 hereof
or pursuant to law.
Section 13.03. In the event of a breach or threatened
breach on the part of Tenant with respect to any of the covenants,
agreements, terms, provisions or conditions on the part of or on
behalf of Tenant to be kept, observed or performed, Landlord shall
also have the right to seek an injunction. The specified remedies
to which Landlord may resort hereunder are cumulative and are not
intended to be exclusive of any other remedies or means of redress
to which Landlord may lawfully be entitled at any time, and
Landlord may invoke any remedy allowed at law or in equity as if
specific remedies were not herein provided for.
Section
14.01. In the event of a Default Termination or Default
Re-Entry of this Lease, Tenant will pay to Landlord as damages, at
the election of Landlord, either:
(a) a sum at
the time of such Default Termination or Default Re-Entry equal to
the amount, if any, by which (1) the aggregate of the Fixed
Rent and the additional rent under Article 26 hereof or any
other Article of this Lease, if any, which would have been payable
hereunder by Tenant for the period commencing with the day
following the date of such Default Termination or Default Re-Entry
and ending with the date hereinbefore set for the expiration of the
full term hereby granted, exceeds (2) the aggregate fair
market rental value (including both Fixed Rent and any additional
rent) of the Premises for the same period, or
(b) sums
equal to the aggregate of the Fixed Rent and the additional rent
under Article 26 hereof or under any other Article of this
Lease, if any, which would have been payable by Tenant had this
Lease not terminated by such Default Termination or Default
Re-Entry payable upon the due dates therefor specified herein
following such Default Termination or Default Re-Entry and until
the date hereinbefore set for the expiration of the full term
hereby granted; provided, however, that if Landlord shall relet all
or any part of the Premises for all or any part of said period,
Landlord shall credit Tenant with the net rents received by
Landlord from such reletting, such net rents to be determined by
first deducting from the gross rents as and when received by
Landlord from such reletting the reasonable expenses incurred or
paid by Landlord in terminating this Lease and of re-entering the
Premises and of securing possession thereof, as well as the
reasonable expenses of
20
reletting,
including altering and preparing the Premises for new tenants with
a Building Standard Installation, brokers’ commissions and
all other reasonable expenses properly chargeable against the
Premises and the rental therefrom in connection with such
reletting, it being understood that any such reletting may be for a
period equal to or shorter or longer than said period; provided,
further, that (i) in no event shall Tenant be entitled to
receive any excess of such net rents over the sums payable by
Tenant to Landlord hereunder, (ii) in no event shall Tenant be
entitled, in any suit for the collection of damages pursuant to
this clause (b), to a credit in respect of any net rents from
a reletting except to the extent that such net rents are actually
received by Landlord prior to the commencement of such suit, and
(iii) if the Premises or any part thereof should be relet in
combination with other space, then appropriate apportionment on a
square foot gross leasable area basis shall be made of the rent
received from such reletting and of the expenses of reletting. For
the purposes of clause (a) of this Section 14.01, the
amount of additional rent which would have been payable by Tenant
under Article 26 hereof, for each calendar year in which and
after such Default Termination or Default Re-Entry occurs, shall be
deemed to be an amount equal to the amount of such additional rent
payable by Tenant for the calendar year immediately preceding the
year in which such Default Termination or Default Re-Entry occurs.
Suit or suits for the recovery of such damages, or any installments
thereof, may be brought by Landlord from time to time at its
election, and nothing contained herein shall be deemed to require
Landlord to postpone suit until the date when the term of this
Lease would have expired but for such Default Termination or
Default Re-Entry.
Section 14.02. Nothing herein contained shall be
construed as limiting or precluding the recovery by Landlord
against Tenant of any sums or damages to which, in addition to the
damages particularly provided above, Landlord may lawfully be
entitled by reason of any default hereunder on the part of
Tenant.
Section 14.03. In the event Landlord defaults under the
terms of this Lease, Tenant may seek recovery against Landlord of
any reasonable sums or damages to which Tenant may be lawfully
entitled by reason of any default hereunder on the part of
Landlord.
Section 15.01. Tenant, for Tenant, and on behalf of any
and all firms, corporations, associations, persons or entities
claiming through or under Tenant, including creditors of all kinds,
does hereby waive and surrender all right and privilege which they
or any of them might have under or by reason of any present or
future law to redeem the Premises o
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