Common use of Tenant Improvement Work Clause in Contracts

Tenant Improvement Work. Tenant desires to perform certain tenant improvement work in Building 154, which work is generally described on attached Exhibit B (the “TI Work”). Tenant shall: (a) commence the TI Work on the Commencement Date; (b) diligently prosecute the same to completion; (c) comply with all Applicable Laws (as defined in section 4.4); (d) obtain all necessary permits and approvals (including as set forth in section 7.1); and (e) use its reasonable efforts to complete the TI Work as quickly as possible thereafter, which is expected to occur during the TI Period. Subject to compliance with the terms and conditions of this Lease (including the obligation to obtain permits, if applicable), Landlord hereby consents to the Tenant performing the TI Work. During the TI Period, Xxxxxxxx has agreed to reduce the monthly Base Rent applicable to the Building 154 Premises as set forth herein. If the TI Work is not completed during the TI Period, Tenant may continue to perform the TI Work thereafter; provided, however, Tenant shall pay the full monthly Base Rent with respect to the Building 154 Premises, and the Building 19 Lease and the Land Lease shall nevertheless terminate effective on the last day of the TI Period. As used in this Lease, the phrase “TI Period” means the period of time beginning on the Commencement Date and ending on the earlier of: (a) the date on which NASA’s Chief Building Official issues to Tenant a final certificate of occupancy for the Building 154 Premises following completion of the TI Work; or (b) fifteen (15) days following the Commencement Date. In addition to the TI Work, on or before the last day of the TI Period, Tenant shall remove from the Property the portable office trailer that Tenant installed on the parcel of land demised under the Land Lease.