APPROVAL OF COST QUOTATION BY TENANT Sample Clauses

APPROVAL OF COST QUOTATION BY TENANT. Tenant shall, within five (5) Business Days of receipt thereof, either: (i) agree in writing to pay the cost by which the Cost Quotation exceeds the sum of the Tenant Improvement Allowance and the Tenant Contingency Allowance ("Additional Cost"), or (ii) revise the T.I. Construction Documents or Space Plan so that the Cost Quotation is either (a) no more than the Tenant Improvement Allowance plus Tenant Contingency Allowance, or (b) in excess of the Tenant Improvement Allowance plus Tenant Contingency Allowance by the amount of Additional Cost which Tenant agrees to pay. If Tenant elects to revise the T.I. Construction Documents in order to reduce the Cost Quotation, the period of time between Tenant's election to revise the T.I. Construction Documents and the approval of the revised T.I. Construction Documents by Tenant shall constitute a Tenant Delay (as defined below). If the sum of the Cost Quotation plus the amounts described in Section 3.1.I (b) and 3.1.1 (c) is less than the maximum Tenant Improvement Allowance set forth in the Basic Terms, the Tenant Improvement Allowance shall be deemed to be an amount equal to such sum. The failure of Tenant to respond within the five (5) Business Day period shall be a Tenant Delay. Upon approval by Tenant, Landlord shall be authorized to proceed with the Improvements in accordance with the approved T.I.
Sample 1
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APPROVAL OF COST QUOTATION BY TENANT. If the Cost Quotation exceeds Tenant's anticipated budget for the Tenant Improvements ("Budget"), Tenant shall either: (i) agree in writing to pay the entire Cost Quotation, or (ii) in cooperation with the Space Planner and Landlord revise the Construction Documents and/or Space Plan so that the Cost Quotation is an amount which Tenant agrees to pay. Upon approval by Tenant, Tenant shall immediately proceed with the Tenant Improvements in accordance with the approved Construction Documents. All costs of revising the Construction Documents, re-engineering, estimating, printing of drawings, costs of any space planner, architect, engineering consultants and other consultants and any other incidental expenses, shall be at the sole cost of Tenant.
Sample 1

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