CONSTRUCTION OBLIGATIONS OF CONCESSIONAIRE. A. Time is of the Essence. Time is of the essence, and Concessionaire agrees that by no later than the Required Opening Date, Concessionaire will bear the sole cost and expense incurred to demolish and reconstruct the Concession Space completely, provide all work of whatsoever nature (“Concessionaire’s Work”), obtain all necessary and required approvals and permissions, and Open for Business to the public. “Open(s) for Business” shall mean the date confirmed by the Parties and documented on Exhibit D after Concessionaire has completed the following: (i) delivered documentation satisfactory to the City that construction of the Concession Space has been completed; (ii) obtained written permission from the Manager or the Manager’s Authorized Representative to remove the construction wall surrounding the Concession Space; and (iii) commenced generating Gross Revenue from the Concession Space. In order to ensure prompt commencement and timely completion of construction and installation of the initial Improvements, Concessionaire agrees to submit its preliminary design and attend a pre-design meeting with the Airport’s concessions management team. Concessionaire’s designs must be submitted as soon as practicable but no later than the Preliminary Design Due Date. Thereafter, Concessionaire shall prepare a complete and detailed set of plans drawn by a registered architect, setting forth and describing Concessionaire’s Work. Further, Concessionaire shall submit a proposed design, construction progress, and a completion schedule, in such detail as the City may reasonably require and in accordance with the design standards and criteria described herein.
