Approval of Cost Estimate Sample Clauses

Approval of Cost Estimate. Following Landlord's approval of the ------------------------- Plans, Landlord shall obtain and submit to Tenant estimates of the cost of the Tenant Work from not less than three (3) qualified bidders. Tenant shall approve or disapprove (in whole or in part) an estimate and give Landlord a notice to proceed with the construction based upon the approved Plans and cost estimate. If Tenant shall disapprove the cost estimate, Tenant shall have the right to modify the Plans Subject tot landlord's approval as provided above) in order to modify the cost of the Tenant Work. Following any modifications to the Plans, Landlord shall submit to Tenant a revised cost estimate for Tenant's approval. Landlord shall not commence performance of the Tenant Work until Tenant approves an estimate of the cost thereof and gives Landlord a notice to proceed. In the event that the cost of the Tenant Work contained in the approved cost estimate exceeds Landlord's Contribution to Landlord, for deposit in Landlord's trust account for payment for the Tenant Work as the Tenant Work progresses, upon approval of the cost estimate. In the event the cost of the Tenant Work thereafter exceeds or further exceeds Landlord's Contribution, tenant shall pay the deficiency form time to time within five (5) days after receipt of a statement therefor from Landlord. If Tenant shall fail to so pay any such amount to Landlord, Landlord may defer commencement of construction or suspend construction and all delay and cost arising from the same shall be considered delay by Tenant and Tenant shall be responsible for all costs thereof.
Sample 1
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Approval of Cost Estimate. Landlord shall not be required to commence construction of any of the TI Work until Tenant has approved the Cost Estimate in writing. If Tenant does not disapprove of the Cost Estimate in writing within five (5) business days after delivery thereof to Tenant by Landlord, Tenant shall be deemed to have approved of the Cost Estimate in all respects. If Tenant expressly disapproves of the Cost Estimate within such five (5) business day period, then each day elapsing between the expiration of such five (5) business day period and the date on which Tenant provides written approval of the Cost Estimate to Landlord shall be considered a day of “Tenant Delay” to the extent Tenant is the sole cause of the delay.
Sample 1
Approval of Cost Estimate. 4.2.1 The Project Contractor shall prepare the Cost Estimate, and shall submit the Cost Estimate prepared by the Project Contractor to Buyer for Buyer's approval. Buyer shall, within five (5) business days after receipt of the Cost Estimate, notify Seller in writing of either (i) Buyers approval of the Cost Estimate or (ii) Buyer's disapproval of the Cost Estimate and specific instructions to Seller to reduce the scope of the Interior Improvements. If Buyer disapproves the Cost Estimate and instructs Seller to reduce the scope of the Interior Improvements, and Buyer delivers to Seller revisions to the Interior Improvement Plans prepared by the Project Architect, if required, then Seller shall cause the Interior improvement Plans, as revised, to be re-bid in accordance with Section 4.1, and shall cause a revised Cost Estimate to be prepared by the Project Contractor and delivered to Buyer for approval or disapproval in accordance with this Section 4.2. Any subsequent reduction in the scope of the Interior Improvements and re-bid shall be subject to the same procedures as set forth in this Article 4.
Sample 1

Related to Approval of Cost Estimate

  • APPROVAL OF PLANS AND SPECIFICATIONS The Plans and Specifications will conform to the requirements and conditions set out by applicable law or any effective restrictive covenant, and to all governmental authorities which exercise jurisdiction over the Leased Premises or the construction thereon.

  • Approval of Counsel The exercise of the Option and the issuance and delivery of shares of Class A Stock pursuant thereto shall be subject to approval by the Corporation's counsel of all legal matters in connection therewith, including, but not limited to, compliance with the requirements of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, and the requirements of any stock exchange upon which the Class A Stock may then be listed.

  • Approval of Agreement The Board of Directors of the Company has authorized the execution and delivery of this Agreement by the Company and has approved this Agreement and the transactions contemplated hereby.

  • Development Costs With respect to activities prior to the Amendment Effective Date, each Party was to pay [*] of the total Direct Development Costs of a Product incurred in accordance with the Development Budget (as defined in the Original Agreement). Notwithstanding anything in this Article 6 of this Agreement or in any other provision of this Agreement to the contrary, with respect to activities on and after the Amendment Effective Date, subject to Sections 3.1.2, Alimera will be solely responsible for, and shall pay one hundred percent (100%) of, all development costs of a Product, including Direct Development Costs. Notwithstanding anything in this Article 6 of this Agreement or in any other provision of this Agreement to the contrary, (i) all payments owing by CDS hereunder with respect to development activities prior to the Amendment Effective Date are hereby deemed fully paid by CDS (or waived, to the extent such waiver may be required), including any Development Payments, Compounded Development Payments, Determined Disputed Costs and Compounded Disputed Costs (as all defined in the Original Agreement), further including any penalties and interest which might have accrued with respect thereto, and further including all CDS payments deferred pursuant to that February 11, 2008 letter agreement sent by CDS and executed by CDS and Alimera regarding deferral of payments under the Original Agreement as of such date; (ii) all payments owing by Alimera hereunder with respect to development activities prior to the Amendment Effective Date are hereby deemed fully paid by Alimera (or waived, to the extent such waiver may be required), including any Development Payments, Compounded Development Payments, Determined Disputed Costs and Compounded Disputed Costs (as all defined in the Original Agreement), and further including any penalties and interest which might have accrued with respect thereto; and (iii) subject to Sections 3.1.1 and 3.1.2, from and after the Amendment Effective Date, CDS will have no liability whatsoever hereunder for any past, present or future development costs, including Direct Development Costs (which includes those incurred before, on and after the Amendment Effective Date), and instead Alimera shall have sole liability therefor.

  • Development Expenses Bionics will reimburse the Company for all reasonable expenses directly associated with the development of the Lead for Bionics (including, without limitation, costs associated with animal studies and human trials), when the Company submits a request to Bionics for approval prior to incurring such expenses and such expenses are incurred with Bionics’ written approval, provided receipts for such expenses are submitted to Bionics within 30 days after such expenses are incurred. Upon receiving a request for expense authorization from the Company, Bionics will indicate to the Company whether the requested expense is authorized within 15 days for expenses up to $1,000 and within 30 days for expenses over $1,000. Bionics will reimburse the Company within 30 days of receiving reasonably detailed invoices describing the Company’s authorized expenses under this Agreement. The Company will provide those invoices to Bionics within 15 days after the end of each month in which the Company incurs any authorized expense.

  • Periodic Review of Costs of Environmental Compliance In the ordinary course of its business, the Company conducts a periodic review of the effect of Environmental Laws on the business, operations and properties of the Company and its subsidiaries, in the course of which it identifies and evaluates associated costs and liabilities (including, without limitation, any capital or operating expenditures required for clean-up, closure of properties or compliance with Environmental Laws or any permit, license or approval, any related constraints on operating activities and any potential liabilities to third parties). On the basis of such review and the amount of its established reserves, the Company has reasonably concluded that such associated costs and liabilities would not, individually or in the aggregate, result in a Material Adverse Change.

  • Approval of Agreements Not to enter into, modify, amend or terminate any Lease or any other material agreement with respect to the Property, which would encumber or be binding upon the Property from and after the Closing Date, without in each instance obtaining the prior written consent of the Purchaser.

  • Approval of Documentation The form and substance of all certificates, instruments and other documents delivered to Buyer under this Agreement shall be satisfactory in all reasonable respects to Buyer and its counsel.

  • Approval of Listing At the Closing Time, the Securities shall have been approved for listing on the New York Stock Exchange, subject only to official notice of issuance.

  • Regulatory and Special Allocations Notwithstanding the provisions of Section 5.01:

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