Lease for Nassau Coliseum
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10/27/15 Confidential AMENDED AND RESTATED COLISEUM LEASE FOR A PORTION OF THE NASSAU COUNTY VETERANS MEMORIAL COLISEUM SITE Between THE COUNTY OF NASSAU and NASSAU EVENTS CENTER, LLC 10/27/15 Confidential TABLE OF CONTENTS 1. CERTAIN DEFINITIONS .....................................................................................................1 2. DEMISE ................................................................................................................................15 3. LEASE TERM ......................................................................................................................15 4. CONSTRUCTION COMMENCEMENT DATE CONDITIONS .......................................16 5. COLISEUM PLANS ............................................................................................................22 6. RENT ....................................................................................................................................25 7. ADDITIONAL RENT ..........................................................................................................28 8. RENOVATION BY TENANT .............................................................................................31 9. REQUIRED PARKING........................................................................................................35 10. USE AND OCCUPANCY ....................................................................................................35 11. LIABILITY OF LANDLORD ..............................................................................................38 12. PREMISES "AS IS"; REPAIRS; MAINTENANCE AND OPERATIONS ........................39 13. ENTRY BY LANDLORD ....................................................................................................44 14. COMPLIANCE WITH LEGAL AND INSURANCE REQUIREMENTS..........................44 15. UTILITIES AND SERVICES ..............................................................................................45 16. INSURANCE ........................................................................................................................47 17. FIRE AND OTHER CASUALTY........................................................................................49 18. CONDEMNATION ..............................................................................................................53 19. ASSIGNMENT AND SUBLETTING .................................................................................55 20. EVENT OF DEFAULT AND CERTAIN REMEDIES OF LANDLORD ..........................60 21. SECURITY FOR PERFORMANCE OF TENANT'S OBLIGATIONS ..............................64 22. SURRENDER .......................................................................................................................64 23. NO WAIVER ........................................................................................................................65 10/27/15 Confidential 24. QUIET ENJOYMENT..........................................................................................................66 25. SHORING, EXCAVATION OF ADJOINING PROPERTY, ENCROACHMENTS .........66 26. ENVIRONMENTAL PROVISIONS ...................................................................................66 27. WAIVER; NO COUNTERCLAIMS ....................................................................................69 28. ESTOPPEL CERTIFICATES ..............................................................................................70 29. NOTICES ..............................................................................................................................70 30. BROKER ..............................................................................................................................71 31. INDEMNIFICATION BY TENANT ...................................................................................72 32. LIMITATION OF LIABILITY ............................................................................................73 33. ARBITRATION ...................................................................................................................74 34. MECHANICS' LIENS AND OTHER LIENS ......................................................................75 35. LIABILITY FOR PAYMENTS ...........................................................................................76 36. NON-MERGER ....................................................................................................................76 37. ENTIRE AGREEMENT .......................................................................................................76 38. NO ORAL MODIFICATION...............................................................................................76 39. SUCCESSORS AND ASSIGNS ..........................................................................................76 40. INDEX AND PARAGRAPH HEADINGS ..........................................................................77 41. INVALIDITY OF PARTICULAR PROVISIONS ..............................................................77 42. INTERPRETATIONS ..........................................................................................................77 43. NO OFFER ...........................................................................................................................77 44. RECORDING OF MEMORANDUM OF LEASE; TRANSFER TAXES ..........................77 45. INDEPENDENT CONTRACTOR .......................................................................................78 46. NO ARREARS OR DEFAULT ...........................................................................................78 47. RECORDS ACCESS ............................................................................................................78 48. CONSENT TO JURISDICTION AND VENUE; GOVERNING LAW; COUNTERPARTS79 10/27/15 Confidential 49. ALL LEGAL PROVISIONS DEEMED INCLUDED; SUPREMACY; CONSTRUCTION79 50. ADMINISTRATIVE SERVICE CHARGE .........................................................................79 51. EXECUTORY CLAUSE ......................................................................................................79 52. TENANT'S OFFSETS AGAINST ANNUAL RENTAL .....................................................80 53. LANDLORD'S RESERVED RIGHTS ................................................................................80 54. COOPERATION REGARDING FUTURE DEVELOPMENT ...........................................81 55. REPRESENTATIONS AND WARRANTIES.....................................................................82 56. EVENT OF FORCE MAJEURE ..........................................................................................85 57. GOVERNMENTAL OBLIGATIONS .................................................................................85 58. LIVING WAGE LAW ..........................................................................................................85 59. ATTORNEYS FEES ............................................................................................................86 60. LIMITATION ON TENANT'S RIGHTS .............................................................................86 61. COSTS AND EXPENSES ....................................................................................................86 62. BIDDING REQUIREMENTS ..............................................................................................86 63. SEVERANCE LEASES .......................................................................................................87 64. MSKCC TRANSACTION ...................................................................................................88 10/27/15 Confidential LIST OF SCHEDULES SCHEDULE A DESCRIPTION OF THE LAND SCHEDULE B PERMITTED ENCUMBRANCES SCHEDULE C PROHIBITED PERSON DEFINITION SCHEDULE D IDA ASSISTANCE SCHEDULE E CERTIFICATION OF COMPLIANCE SCHEDULE F STRUCTURE OF TENANT SCHEDULE G DESCRIPTION OF COLISEUM RENOVATION SCHEDULE H PROJECT BUDGET SCHEDULE I ILLUSTRATIVE COLISEUM MINIMUM ANNUAL RENT SCHEDULE SCHEDULE J LEASEHOLD MORTGAGES SCHEDULE K LAND UNDER COLISEUM LEASE WITHOUT MSKCC PARCEL SCHEDULE L CONSULTANT'S, CONTRACTOR'S AND VENDOR'S DISCLOSURE FORM 10/27/15 Confidential THIS AMENDED AND RESTATED LEASE (as amended from time to time in accordance with its terms, this "Lease"), which is effective as of the Lease Effective Date referred to below but is being made and entered into as of July 30, 2015, is by and between THE COUNTY OF NASSAU, acting solely in its proprietary, not governmental capacity, as landlord, together with its successors and assigns (the "Landlord"), having an address at 1550 Franklin Avenue, Mineola, New York 11501, and NASSAU EVENTS CENTER, LLC, a Delaware limited liability company, as tenant, together with its successors and permitted assigns (the "Tenant"), having an office address at 15 Metrotech Center, 11th Floor, Brooklyn, New York 11201. W I T N E S S E T H: WHEREAS, Landlord and Tenant entered into a Lease, effective as of October 30, 2013 (as amended by a First Amendment to Lease and a Second Amendment to Lease, the "Initial Lease"), whereby Landlord leased to Tenant the premises described therein (such premises, the "Initial Lease Premises"); WHEREAS, the Initial Lease provides that Landlord shall, at Tenant's request and subject to the certain terms and conditions set forth in Article 63 of the Initial Lease, enter into a maximum of two (2) severance leases for portions of the Initial Lease