Common use of Closeout Reports Clause in Contracts

Closeout Reports. To demonstrate Tenant’s compliance with obligations and requirements of this Lease, Tenant shall, at its sole cost and expense, provide a Final Physical Condition Report and the EBS Reports (each as herein after defined and collectively referred to as, the “Closeout Reports”). In the event that the Closeout Reports identify a physical or environmental condition on or at the Leased Premises and/or the Access Area(s) arising or due to the actions or inactions of Tenant, its employees, agents, contractors, licensees, or invitees or otherwise their use and occupancy of the Leased Premises, Tenant shall (at its sole cost and expense) promptly undertake and pursue diligently to completion any remedial measures required by the Landlord or any Landlord authority having jurisdiction. i. No later than sixty (60) days prior to the later of: (a) the Expiration Date or earlier termination date of this Lease, or (b) the expiration of the Removal Period, if the Landlord does not exercise its right to retain any or all the Improvements, Tenant shall prepare a final physical condition report setting for the physical appearance and condition of the Leased Premises as of the Expiration Date of this Lease or the expiration of the Removal Period, whichever is later, to be mutually agreed to and signed by the Parties (the “Final Physical Condition Report”). The Landlord may compare the Final Physical Condition Report to the Initial Condition Report to identify changes regarding the physical condition of the Leased Premises and the Access Area(s) during the Term of this Lease. ii. No later than sixty (60) days prior to the latter of: (a) the Expiration Date or earlier termination date of this Lease, or (b) the expiration of the Removal Period, if the Landlord does not exercise its right to retain any or all the Improvements, Tenant shall commence a Phase I Environmental Baseline Survey (“Phase I EBS”) in accordance with any standards recognized or required by the Landlord at the time. If the Phase I EBS reveals any areas of environmental concern that were not based upon matters disclosed in the Landlord’s Environmental Documents and which, in the Landlord’s reasonable discretion, warrant further investigation, Tenant shall, at its sole cost and expense, commence a Phase II Environmental Baseline Survey (“Phase II EBS”) in accordance with the reasonable instructions and standards recognized or required by the Landlord at the time, including sampling and analysis of soil and groundwater, necessary to determine whether or not contamination has occurred. Copies of the Phase I EBS and the Phase II EBS and any other supplemental EBS reports made pursuant to this Section (collectively, the “EBS reports”) shall be certified to be for the benefit of the Landlord by the duly authorized, licensed, and qualified environmental consultant performing or creating the EBS reports. The Landlord may compare the EBS Reports to the Environmental Documents to identify any environmental conditions which may have occurred on the Leased Premises and the Access Area(s) during the Term of this Lease.

Closeout Reports. To demonstrate TenantLessee’s compliance with obligations and requirements of this Lease, Tenant Lessee shall, at its sole cost and expense, provide a Final Physical Condition Report and the EBS Reports (each as herein after defined and collectively referred to as, the “Closeout Reports”). In the event that the Closeout Reports identify a physical or environmental condition on or at the Leased Premises and/or the Access Area(s) arising or due to the actions or inactions of TenantLessee, its employees, agents, contractors, licensees, or invitees or otherwise their use and occupancy of the Leased Premises, Tenant Lessee shall (at its sole cost and expense) promptly undertake and pursue diligently to completion any remedial measures required by the Landlord Government or any Landlord governmental authority having jurisdiction. i. No later than sixty (60) days prior to the later of: (a) the Expiration Date or earlier termination date of this Lease, or (b) the expiration of the Removal Period, if the Landlord Government does not exercise its right to retain any or all the Improvements, Tenant Lessee shall prepare a final physical condition report setting for the physical appearance and condition of the Leased Premises as of the Expiration Date of this Lease or the expiration of the Removal Period, whichever is later, to be mutually agreed to and signed by the Parties (the “Final Physical Condition Report”). The Landlord Government may compare the Final Physical Condition Report to the Initial Condition Report to identify changes regarding the physical condition of the Leased Premises and the Access Area(s) during the Term of this Lease. ii. No later than sixty (60) days prior to the latter of: (a) the Expiration Date or earlier termination date of this Lease, or (b) the expiration of the Removal Period, if the Landlord Government does not exercise its right to retain any or all the Improvements, Tenant Lessee shall commence a Phase I Environmental Baseline Survey (“Phase I EBS”) in accordance with any the most current Air Force Instruction (AFI) 32-7066 and with the standards recognized or required by the Landlord Government at the time. If the Phase I EBS reveals any areas of environmental concern that were not based upon matters disclosed in the LandlordGovernment’s Environmental Documents and which, in the LandlordGovernment’s reasonable discretion, warrant further investigation, Tenant Lessee shall, at its sole cost and expense, commence a Phase II Environmental Baseline Survey (“Phase II EBS”) in accordance with the reasonable instructions and standards recognized or required by the Landlord Government at the time, including sampling and analysis of soil and groundwater, necessary to determine whether or not contamination has occurred. Copies of the Phase I EBS and the Phase II EBS and any other supplemental EBS reports made pursuant to this Section (collectively, the “EBS reports”) shall be certified to be for the benefit of the Landlord Government by the duly authorized, licensed, and qualified environmental consultant performing or creating the EBS reports. The Landlord Government may compare the EBS Reports to the Environmental Documents to identify any environmental conditions which may have occurred on the Leased Premises and the Access Area(s) during the Term of this Lease.