Coach 2013 Annual Report Download - page 749

(i) For each month during the Hoist Use Period (and for each month or partial month thereafter to and including the Hoist
Removal Date), Developer shall pay to the Coach Member a monthly fee (the “ Hoist Use Fee”) equal to the product of (A) the applicable Hoist Fee
Rate multiplied by (B) the Hoist Impact Area, which Hoist Use Fee shall be payable monthly in advance on the first day of each such monthly period
(which Hoist Use Fee shall be prorated for any partial month and if the Hoist Removal Date is any day other than the last day of a calendar month,
any amount paid for any period after the Hoist Removal Date shall be refunded to Developer).
(ii) During the Hoist Use Period (and thereafter until the Hoist Removal Date), the Coach Member shall enjoy non-exclusive
use of the East Hoist in accordance with the Site Logistics Procedures.
(iii) At all times during the Hoist Use Period (and thereafter until the Hoist Removal Date), excepting any East Hoist brackets
that may remain), the curtain wall enclosing the Coach Areas (or the façade surrounding the same) shall have been completed and finished in a water
and weather-tight manner as shown on the Plans, in compliance with all applicable Laws and the Site Logistics Procedures.
(iv) All temporary fire-rated walls required by applicable Law to demise the Hoist Impact Area from the balance of the Coach
Areas shall be installed and removed by Developer at Developer’s sole cost and expense.
(v) Developer shall use Best Efforts to cause the Hoist Removal Date to occur on or prior to the end of the Hoist Use Period (it
being acknowledged and agreed, however, but without limiting Developer’s liability under Section 13.03(c), that Developer’s liability for the failure of
the Hoist Removal Date to occur on or prior to the expiration of the Hoist Use Period shall be limited to payment of the Hoist Use Fee as provided
herein).
(b) As used herein: (i) “Hoist Impact Area” means an amount of rentable square feet equal to two (2) times the rentable square feet of
the Coach Unit affected by the East Hoist as shown on Exhibit W attached hereto; (ii) “Hoist Rate” means a rate per annum equal to (A) $60.00 for the period
commencing on the first day of the Hoist Use Period and continuing until the date that is six (6) months thereafter, plus (B) an additional $20.00 for each
additional month thereafter until the occurrence of the Hoist Removal Date (i.e., $80 for the seventh month, $100 for the eighth month, and so on); and (iii)
“Hoist Removal Date” means the date on which Developer shall remove the East Hoist and any brackets relating to the East Hoist, and shall patch any
penetrations through the core of the Coach Areas (or the façade surrounding the same) resulting from the East Hoist and complete and finish the curtain wall
enclosing the Coach Areas (or the façade surrounding the same) in a water and weather-tight manner as shown on the Plans.
(c) Developer shall indemnify, defend, reimburse, and hold harmless the Coach Member, and each of the Coach Indemnitees, from
and against any and all claims arising out of or relating to the continued use of the East Hoist or presence of the East Hoist on the Building from and after the
Substantial Completion Date through the Hoist Removal Date.
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