Fill and Sign the Example 2 Fairly Typical Remeasurement Clause Used When Variances Form

7.06a Example 2: Fairly Typical Remeasurement Clause Used When Variances Exist Between the Rentable and Actual Area of a "to be built" Space . . . precise and thoughtful way to provide for variances between the rentable area of a "to be built" demised premises and the actual area after construction is illustrated in a fairly typical clause from a lease form Section 1.05. If the floor area (as defined below) of the demised premises, "as built", is determined to be less than that on the Floor Plan, by agreement as hereinafter described, then, and in such event, the fixed annual rental for the demised premises shall be reduced in the same proportion and the percentage for tax escalation, expense escalation, cleaning cost escalation and for Building electricity payments, shall, if appropriate, be equitably adjusted to reflect such reduced floor area. "Floor area" shall, with respect to each office floor, mean the area within the exterior walls of the Building and, in the case of the lobby floor, the area within the demising walls of areas rented or to be rented, computed by measuring from or to the inside surfaces of the exterior walls or demising walls, as the case may be, but excluding from such areas the area of any public stairs, fire tower and fire tower court, elevator shafts and machine rooms, with their finished enclosing walls, and columns not shown on the Floor Plan and Building Plans. If the floor area of the office and store space of the Building, "as built", is determined to be greater or less than that shown in the Building Plans, by agreement or arbitration as hereinafter described, then, and in such event, as appropriate, (a) the percentage for the purposes of Article 4 and 7 shall be equitably adjusted to reflect such difference, (b) the Expense Base Factor and the Percentage for the purposes of Article 5 shall be equitably adjusted, and (c) the Cleaning Cost Factor and the Percentage for the purposes of Article 6 shall be equitably adjusted except that no change in any store area shall affect such adjustment. When construction has reached the stage permitting same and would not be thereby disrupted, Tenant and its representatives may make such observations and measurements of the floor area of the demised premises and of the office and store areas of the Building as Tenant or such representatives may desire. If Tenant shall claim that the floor area of the demised premises, "as built", is less than that shown on the Floor Plan, or if Landlord or Tenant shall claim that the floor area "as built" of the office or store space of the Building is different than that shown on the Building Plans, then either party shall have the right to claim the adjustments provided for in this Lease. Any dispute with respect to the foregoing shall be determined by arbitration under Article 34 hereof except that such arbitration shall be by three (3) architects, each of whom shall have at least ten (10) years' experience in the design, construction and finishing of major office buildings in the City of New York, and who shall determine the adjustment(s), if any, in accordance with the above provisions. In the event either party does not raise or claim the foregoing dispute within thirty (30) days after Landlord notifies Tenant that all of the areas in question are available for observation and measurement, they shall not be deemed available for observation and measurement, they shall be deemed to have waived any right to do so. In any event, no such dispute shall be raised more than sixty (60) days following the commencement date of the term of this Lease.