Master Tenant Lease Agreement - 400 North Broad Partners, L.P. and 400 North Broad Street Master Tenant, LLC

Sep 4, 2026

Master Tenant Lease Agreement governing the lease of premises at 400 North Broad Street and 1501 Callowhill Street in Philadelphia, Pennsylvania, including defined roles for Landlord and Tenant and key effective-date terms. The agreement establishes a “Master Lease” structure that also contemplates subleases through Exhibit B-1 (PAID Lease) and Exhibit B-2 (City Sublease), identifies the City of Philadelphia as Subtenant, and defines related parties and concepts such as Contractor and Historic Tax Credits. A comprehensive section framework addresses term, rent, operations, utilities, insurance, maintenance, compliance, alterations, entry, casualty, condemnation, assignment, notices, and remedies.

LanguageEnglish

CategoryLetters

FormatPDF

Pages35

Reading Time12 min

AccessFree to download

Master Lease and Sublease; Certain Terms and Definitions

Premises

Term

Use; Permitted Encumbrances

Rent

Operating Expenses; Compliance with Laws

Utilities

Insurance; Waivers; Indemnification; Failure to Obtain Historic Tax Credits

Maintenance and Repairs

Compliance

Signs

Alterations; FF&E

Mechanics’ Liens

Landlord’s Right of Entry

Damage by Fire or Other Casualty

Condemnation

Quiet Enjoyment

Assignment and Subletting

Subordination; Mortgagee’s Rights

Tenant’s Certificate; Financial Information

Surrender

Defaults-Remedies

Liability of Landlord

Miscellaneous

Notices

Broker

Limitations on Recourse

Execution Version MASTER TENANT LEASE AGREEMENT AND 400 NORTH BROAD PARTNERS, L.P. Landlord 400 NORTH BROAD STREET MASTER TENANT, LLC Tenant, at Premises: 400 North Broad Street (Tax Parcel 88-4062505) and 1501 Callowhill Street (Tax Parcel 88-4062515), Philadelphia, PA LEGAL\31038608\9 US_ACTIVE-137387301.2-JMMARGER 12/27/2017 3:52 PM US_ACTIVE-137986512.3-JMMARGER Execution Version Table of Contents Page 1. Master Lease and Sublease; Certain Terms and Definitions.............................................. 3 2. Premises.............................................................................................................................. 5 3. Term .................................................................................................................................... 7 4. Use; Permitted Encumbrances ............................................................................................ 8 5. Rent..................................................................................................................................... 8 6. Operating Expenses; Compliance with Laws ..................................................................... 9 7. Utilities.............................................................................................................................. 10 8. Insurance; Waivers; Indemnification; Failure to Obtain Historic Tax Credits................. 10 9. Maintenance and Repairs.................................................................................................. 12 10. Compliance....................................................................................................................... 13 11. Signs.................................................................................................................................. 14 12. Alterations; FF&E............................................................................................................. 14 13. Mechanics’ Liens .............................................................................................................. 15 14. Landlord’s Right of Entry ................................................................................................. 15 15. Damage by Fire or Other Casualty ................................................................................... 15 16. Condemnation ................................................................................................................... 16 17. Quiet Enjoyment ............................................................................................................... 16 18. Assignment and Subletting............................................................................................... 16 19. Subordination; Mortgagee’s Rights.................................................................................. 17 20. Tenant’s Certificate; Financial Information...................................................................... 17 21. Surrender........................................................................................................................... 17 22. Defaults-Remedies.......................................................................................................... 18 23. Liability of Landlord......................................................................................................... 20 24. Miscellaneous................................................................................................................... 20 25. Notices .............................................................................................................................. 22 26. Broker ............................................................................................................................... 23 27. Limitations on Recourse .............................................................

FAQs

Who are the Landlord and Tenant under the Master Tenant Lease Agreement?

The Landlord is 400 NORTH BROAD PARTNERS, L.P., and the Tenant is 400 NORTH BROAD STREET MASTER TENANT, LLC, each identified in the preamble.

What premises are covered by the agreement?

The agreement covers 400 North Broad Street (Tax Parcel 88-4062505) and 1501 Callowhill Street (Tax Parcel 88-4062515) in Philadelphia, PA.

How do Exhibits B-1 and B-2 relate to subleasing?

Exhibit B-1 (the PAID Lease) provides that Tenant subleases the entire premises to PAID, and Exhibit B-2 (the City Sublease) provides that PAID subleases the entire premises to the City of Philadelphia.

Sep 4, 2026

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