|
Exhibit
10.40.2
FIRST AMENDMENT TO
LEASE
FIRST AMENDMENT TO LEASE
(this “ Amendment ” ), dated as of
August 3, 2005 between RECKSON COURT SQUARE, LLC, a
Delaware limited liability company, having an office at c/o Reckson
Associates Realty Corp., 1350 Avenue of the Americas, Suite 901,
New York, New York 10019 ( “ Landlord ” )
and CITIBANK, N.A., a national banking association, having
an office at having an office at One Court Square, Long Island
City, New York 11120 ( “ Tenant ”
).
W I T
N E S S E T
H
WHEREAS , Landlord and
Tenant executed and exchanged that certain Lease, dated as of
May 12, 2005 (the “ Original Lease ”
), covering that certain land more particularly described in
Exhibit A annexed hereto (the “ Land
” ) and that certain building with attached low-rise
building and connecting rotunda (the “ Building
” and, together with the Land, the “
Property ” ) known as One Court Square in Long
Island City, Queens County, New York, as more particularly
described in the Original Lease;
WHEREAS , Landlord and
Tenant desire to modify certain terms and provisions of the
Original Lease.
NOW THEREFORE , in
consideration of the mutual covenants herein contained, and other
good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Landlord and Tenant agree that the
Original Lease shall be modified as follows:
1. All
capitalized terms used and not otherwise defined in this Amendment
shall have the meanings ascribed to them in the Original
Lease.
2. Amendment
to Section 4.01 of the Original Lease. The first three
sentences of Section 4.01 of the Original Lease are hereby
amended and restated in their entirety as follows:
Upon not less than fifteen
(15) months prior written notice to Landlord (each herein
called a “ Surrender Notice ” ) which may
be given one or more times (a) during the period commencing on
September 20, 2009 up to and including the earlier to occur of
(x) September 30, 2011 or (y) the occurrence of any
Surrender Date (herein called the “ Tranche 1 Surrender
Notice Period ” ) or (b) if Tenant shall not
have delivered a Surrender Notice during the Tranche 1 Surrender
Notice Period (and no portion of the Premises shall have been
surrendered by Tenant), during the period commencing on
September 20, 2012 up to and including September 30, 2014
(herein called the “Tranche 2 Surrender Notice
Period ; any Trance 2 Surrender Notice Period or
Tranche 1 Surrender Notice Period may each hereinafter be
individually and generically
referred to as a “
Surrender Notice Period ” ), Tenant may elect to
surrender portions of the Premises (each such portion of the
Premises so surrendered is herein called “ Surrender
Space ” ) consisting of two (2) or more full
Office Floors on or above the 6 th floor of the Building and containing not more than 280,326
rentable square feet in the aggregate, all of which shall consist
of full Office Floors. For example and without limitation, Tenant
may initially elect to surrender three full Office Floors
containing 90,510 rentable square feet of the Premises, and
thereafter send one or more Surrender Notices during the applicable
Surrender Notice Period surrendering additional full Office Floors
(but not less than two (2) full Office Floors in any Surrender
Notice) comprising up to an additional 189,816 rentable square feet
(i.e., the Surrender Space shall not exceed 280,326 rentable square
feet in the aggregate). Any Surrender Notice shall identify the
Surrender Space and indicate the date on which such Surrender Space
will be surrendered, which date(s) (a) for a Surrender Notice
given during the Tranche 1 Surrender Notice Period, may be no
earlier than December 20, 2010, no later than
December 31, 2012 and must correspond with the last day of a
month, and (b) for a Surrender Notice given during the Tranche
2 Surrender Notice Period, may be no earlier than December 20,
2013, no later than December 31, 2015, and must correspond
with the last day of a month (any such date is herein called a
“ Surrender Date ” ).
3. Amendment
to Exhibit J to the Original Lease . The first sentence of
Section 4.01 (a) of Exhibit J to the Original Lease is
hereby amended and restated in its entirety as follows:
Upon not less than fifteen
(15) months prior written notice to Landlord (each herein
called a “ Tranche 1 Surrender Notice ” )
which may be given one or more times during the period commencing
on September 20, 2009 up to and including September 30,
2011 (herein called the “ Tranche 1 Surrender Notice
Period ” ), Tenant may elect to surrender portions of
the Premises (each such portion of the Premises so surrendered is
herein called “ Tranche 1 Surren der
Space ”; and any portion of the Premises that was
surrendered to Landlord pursuant to the Original Lease for which
notice was given during the Tranche 1 Surrender Notice Period shall
constitute Tranche 1 Surrender Space) consisting of two (2) or
more full Office Floors on or above the 6 th floor of the Building and containing not
more than 280,326 rentable square feet in the aggregate, all of
which shall consist of full Office Floors.
4. Amendment
to Exhibit J to the Original Lease . The first sentence of
Section 4.01(b) of Exhibit J
|
