Common use of Changes to Plans Clause in Contracts

Changes to Plans. Tenant shall have the right to request that ---------------- Landlord make changes to the Plans (a "Change Order"), which requests shall be in a writing delivered to Landlord and shall not be unreasonably denied; provided, however, that the incremental increase or decrease of the overall costs of constructing the Improvements directly attributable to a Change Order shall be reflected increasing or decreasing the rent payable under this Lease. (Amount of Cost Increase or Cost Decrease) x (1.09) x *(.0954) = -------------------------------------------------------------- (12) (Amount to be Added to or Subtracted from Tenant's Monthly Rent) In the event a Change Order results in the total square footage of the Building as set forth in subparagraph 4(a) hereof, being increased or decreased, such square footage and Rent payable hereunder shall be proportionately adjusted. Anything herein to the contrary notwithstanding, in the event the additional work contemplated by a Change Order will result in a delay in completing a Key Task or Benchmark Task, Landlord, within ten (10) days after receipt of the Change Order, will notify Tenant of such in a writing specifying the Key Task or Benchmark Task which will be delayed and the anticipated length of the delay. Tenant shall have five (5) days following receipt of Landlord's notification in which to either, at Tenant's option, (i) rescind in writing the Change Order, (ii) dispute in writing anticipated length of delay set forth in Landlord's notification, in which event Landlord and Tenant shall have five (5) additional days in which to arrive at a mutually agreeable length of anticipated delay and, failing such mutual agreement, the anticipated length of delay shall be determined pursuant to the arbitration provisions of Paragraph 29 herein, (provided however, that construction under the Change Order shall commence immediately and shall not await determination of the length of delay under this subparagraph 2(h), or (iii) approve the length of the anticipated delay. In the event Tenant does not notify Landlord of Tenant's election with five (5) days after receipt of Landlord's notification of anticipated delay, Tenant shall be deemed to have approved the anticipate length of delay * This rate is subject to equitable adjustment in the event the Change Order results in any special additions to the Parcel 1 Improvements not contemplated by the Plans and not practically capable of amortization as provided for herein. Any disputes regarding any such adjustment or the need therefore, shall be settled pursuant to the arbitration provisions of Paragraph 29 hereof. specified therein; in which event completion of the Key Task or Benchmark Task shall be deemed to be delayed as specified by Landlord. In the event Landlord does not notify Tenant of any anticipated delay within ten (10) days after receipt of a Change Order, it shall be conclusively deemed that such Change Order will not result in delay in completing a Key Task or Benchmark Task.

Appears in 1 contract

Samples: Indemnification Agreement (Styrochem International LTD)

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Changes to Plans. Tenant shall have The Borrower must obtain the right to request that ---------------- Landlord make changes to Lender's prior written approval of any material change in the Plans plans and specifications for the Improvements approved by the Lender and also of any change in any work or materials for the Improvements which exceed an amount individually of Fifteen Thousand and No One- Hundredths Dollars (a "Change Order"), which requests $15,000.00) or Forty Thousand and No One-Hundredths Dollars ($40,000.00) collectively. The Improvements shall be completed in a writing delivered to Landlord compliance with such plans and shall not be unreasonably denied; provided, however, that the incremental increase or decrease of the overall costs of constructing the Improvements directly attributable to a Change Order shall be reflected increasing or decreasing the rent payable under this Leasespecifications. (Amount of Cost Increase or Cost Decrease) x (1.09) x *(.0954) = -------------------------------------------------------------- (12) (Amount to be Added to or Subtracted from Tenant's Monthly Rent) In the event a Change Order results in that changes are made to the total plans and specifications which decrease the gross square footage of the Building Improvements, Borrower must obtain a new appraisal of the Property and the Loan amount will be adjusted as set forth necessary to meet a 75% loan-to-value ratio. In addition, if construction of the Improvements is being accomplished under one or more general contracts, the Borrower must obtain the Lender's prior written approval of such contracts. The Borrower must also obtain all approvals of any changes in subparagraph 4(a) hereofplans, being increased specifications, work, materials or decreasedcontracts that are required by law, such square footage and Rent payable hereunder shall be proportionately adjusted. Anything herein or under any lease, loan commitment or other agreement relating to the contrary notwithstandingProperty. The Lender will have a reasonable time to evaluate any requests for its approval of any changes referred to in this paragraph, in the event the additional work contemplated by a Change Order and will result in a delay in completing a Key Task or Benchmark Task, Landlord, not be required to consider approving any changes unless all other approvals that are required from other parties have been obtained. Lender will be deemed to have approved if it fails to respond within ten (10) working days after receipt Lender receives all information requested by Lender relating to such changes or if it fails to include a reasonable statement of its reasons with its disapproval. If it reasonably appears to the Change Order, will notify Tenant Lender that any change may increase the total cost of such in a writing specifying completing the Key Task or Benchmark Task which will be delayed and the anticipated length of the delay. Tenant shall have five (5) days following receipt of Landlord's notification in which to either, at Tenant's option, (i) rescind in writing the Change Order, (ii) dispute in writing anticipated length of delay set forth in Landlord's notification, in which event Landlord and Tenant shall have five (5) additional days in which to arrive at a mutually agreeable length of anticipated delay and, failing such mutual agreementImprovements, the anticipated length of delay shall be determined pursuant Lender may require the Borrower to deposit additional Borrower Construction Funds sufficient to cover the arbitration provisions of Paragraph 29 herein, (provided however, that construction under the Change Order shall commence immediately and shall not await determination of the length of delay under this subparagraph 2(h), or (iii) approve the length of the anticipated delay. In the event Tenant does not notify Landlord of Tenant's election with five (5) days after receipt of Landlord's notification of anticipated delay, Tenant shall be deemed to have approved the anticipate length of delay * This rate is subject to equitable adjustment in the event the Change Order results in any special additions to the Parcel 1 Improvements not contemplated by the Plans and not practically capable of amortization as provided for herein. Any disputes regarding any such adjustment or the need therefore, shall be settled pursuant to the arbitration provisions of Paragraph 29 hereof. specified therein; in which event completion of the Key Task or Benchmark Task shall be deemed to be delayed as specified by Landlord. In the event Landlord does not notify Tenant of any anticipated delay within ten (10) days after receipt of a Change Order, it shall be conclusively deemed that such Change Order will not result in delay in completing a Key Task or Benchmark Task.increased costs as

Appears in 1 contract

Samples: Construction Loan Agreement (Emeritus Corp\wa\)

Changes to Plans. Tenant shall have the right to request that ---------------- Landlord make changes to the Plans (Change Orders. Any such request for a "Change Order"), which requests Order shall be in a writing delivered made only by Tenant’s Representative. All such changes initiated by Tenant’s Representative shall be forwarded to Landlord and accompanied by plans and specifications therefor and shall be subject to a Landlord’s Review Period subject to Landlord’s Review Standard. In the event that Landlord shall approve any such Change Order, then Landlord, within two (2) Business Days thereafter, shall request the Landlord’s Contractor to price the cost of the requested Change Orders and state the number of additional days, if any, needed to incorporate the Change Order into the Construction Schedule of the Tenant’s Improvements. Landlord will price the cost of any requested Change Order as quickly as reasonably possible, but such pricing process shall not be unreasonably deniedtake more than five (5) Business Days for Change Orders involving less than $50,000 or more than ten (10) Business Days for Change Orders involving greater than $50,000; provided, however, that the incremental increase such five (5) or decrease of the overall costs of constructing the Improvements directly attributable to a Change Order shall be reflected increasing or decreasing the rent payable under this Lease. (Amount of Cost Increase or Cost Decrease) x (1.09) x *(.0954) = -------------------------------------------------------------- (12) (Amount to be Added to or Subtracted from Tenant's Monthly Rent) In the event a Change Order results in the total square footage of the Building as set forth in subparagraph 4(a) hereof, being increased or decreased, such square footage and Rent payable hereunder shall be proportionately adjusted. Anything herein to the contrary notwithstanding, in the event the additional work contemplated by a Change Order will result in a delay in completing a Key Task or Benchmark Task, Landlord, within ten (10) days after Business Day period, as the case may be, shall not commence until Tenant has delivered to Landlord reasonably sufficient quantities of plans and specifications to allow Landlord to distribute the same to any subcontractors or vendors required to price such Change Order. The price and revision to the Construction Schedule, once received and approved by Landlord will be submitted to Tenant’s Representative for approval, together with appropriate detailed back-up information, including, without limitation, the subcontractor bids and a break down of all labor, materials, profit and overhead (which profit and overhead shall not exceed 7% of the cost of labor and materials) involved in the Change Order to enable Tenant’s Representative to properly evaluate the price and schedule. Upon receipt of such information, the Change Order, will notify Tenant of such in a writing specifying the Key Task or Benchmark Task which will be delayed and the anticipated length of the delay. Tenant Tenant’s Representative shall have five (5) days following receipt of Landlord's notification in Business Days within which to either, at Tenant's option, (i) rescind in writing the approve or object such proposed Change Order, (ii) dispute in writing anticipated length of delay set forth in Landlord's notification, in which event Landlord and Tenant shall have five (5) additional days in which to arrive at a mutually agreeable length of anticipated delay and, failing such mutual agreement, the anticipated length of delay shall be determined pursuant to the arbitration provisions of Paragraph 29 herein, (provided however, that construction under the Change Order shall commence immediately and shall not await determination of the length of delay under this subparagraph 2(h), or (iii) approve the length of the anticipated delay. In the event Tenant does not notify the Tenant’s Representative and Landlord of Tenant's election with five (5) days after receipt of Landlord's notification of anticipated delay, Tenant shall be deemed to have approved the anticipate length of delay * This rate is subject to equitable adjustment in the event the Change Order results in any special additions to the Parcel 1 Improvements not contemplated by the Plans and not practically capable of amortization as provided for herein. Any disputes regarding any such adjustment or the need therefore, shall be settled pursuant to the arbitration provisions of Paragraph 29 hereof. specified therein; in which event completion of the Key Task or Benchmark Task shall be deemed to be delayed as specified by Landlord. In the event Landlord does not notify Tenant of any anticipated delay within ten (10) days after receipt of reach agreement on a Change Order, it shall be conclusively deemed that to the extent such Change Order will not result affects the critical path of the Construction Schedule, the Construction Schedule shall be revised, and if there is an increase in delay in completing the number of days of the Construction Schedule’s critical path, then such days shall be deemed a Key Task or Benchmark TaskTenant Delay.

Appears in 1 contract

Samples: Office Lease Agreement (Royal Caribbean Cruises LTD)

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Changes to Plans. Tenant Landlord shall have the right to request that ---------------- Landlord make approve any material changes (the “Approvable Changes”) to the Plans (a "Change Order")Approved Construction Documents, which requests shall be in a writing delivered to Landlord and approval shall not be unreasonably denied; providedwithheld, howeverconditioned or delayed. Notwithstanding the foregoing, the following shall be excluded from the definition of “Approvable Changes”: (A) any changes that are required to comply with Legal Requirements (as such term is defined herein), (B) any changes resulting from implementation of alternatives or qualified substitutions as described in the incremental increase or decrease Approved Construction Documents, (C) any changes related to further development of the overall costs of constructing the Improvements directly attributable to a Change Order shall be reflected increasing or decreasing the rent payable under this Lease. (Amount of Cost Increase or Cost Decrease) x (1.09) x *(.0954) = -------------------------------------------------------------- (12) (Amount to be Added to or Subtracted from Tenant's Monthly Rent) In the event a Change Order results in the total square footage Approved Construction Documents consistent with previously approved versions of the Building as set forth in subparagraph 4(asame, and (D) hereofminor changes to reflect field conditions or unforeseen conditions (collectively, being increased or decreased, such square footage and Rent payable hereunder shall be proportionately adjustedthe “Permitted Changes”). Anything herein If Tenant desires to make an Approvable Change to the contrary notwithstandingInitial Improvements that is not a Permitted Change, in then Tenant shall promptly notify Landlord of the event change and request Xxxxxxxx’s approval of the additional work contemplated by a Change Order will result in a delay in completing a Key Task or Benchmark Task, Landlord, within same. Within ten (10) days after receipt delivery of the Change Ordersuch notice to Landlord, will Landlord shall notify Tenant of whether it approves such in a writing specifying the Key Task or Benchmark Task which will be delayed and the anticipated length of the delay. Tenant shall have five (5) days following receipt of Landlord's notification in which to eitherchange, at Tenant's optionor, (i) rescind in writing the Change Order, (ii) dispute in writing anticipated length of delay set forth in Landlord's notification, in which event Landlord and Tenant shall have five (5) additional days in which to arrive at a mutually agreeable length of anticipated delay and, failing such mutual agreementif not, the anticipated length revisions required to be made by Tenant. Landlord shall not unreasonably withhold, condition or delay any approval of delay shall be determined pursuant to the arbitration provisions of Paragraph 29 herein, (provided however, that construction under the Change Order shall commence immediately a requested change and shall not await determination cooperate with Tenant in approving such changes necessary to satisfy Tenant’s schedule. Payment and Performance Bond. Simultaneously with the execution of the length of delay under this subparagraph 2(h), or (iii) approve the length of the anticipated delay. In the event Tenant does not notify Landlord of Tenant's election with five (5) days after receipt of Landlord's notification of anticipated delayLease, Tenant shall be deemed deliver to have approved the anticipate length Landlord, in form and substance reasonably satisfactory to Landlord, payment and performance bonds of delay * This rate is subject a surety company licensed to equitable adjustment do business in the event Commonwealth of Massachusetts, naming the Change Order results Tenant’s general contractor, Tenant, the Guarantor (as such term is defined therein)) and Landlord as co-obligees, as their respective interests may appear (each such bond, a “Payment and Performance Bond”), to be in any special additions to the Parcel 1 Improvements not contemplated by the Plans and not practically capable of amortization as provided for herein. Any disputes regarding any such adjustment or the need therefore, shall be settled pursuant to the arbitration provisions of Paragraph 29 hereof. specified therein; in which event completion amount of the Key Task or Benchmark Task entire contract sum of Tenant’s contract with its major subcontractors having a contract sum in excess of ______________ for the Initial Improvements. Tenant’s obligation to provide Payment and Performance Bond(s) as required under this Section 3.9 shall apply for the duration of construction of the Initial Improvements, including all design services and construction work associated with the Intial Improvements. - RENT [To be deemed revised based on response to be delayed as specified by Landlord. In the event Landlord does not notify Tenant of any anticipated delay within ten (10) days after receipt of a Change Order, it shall be conclusively deemed that such Change Order will not result in delay in completing a Key Task or Benchmark Taskrfp] Base Rent.

Appears in 1 contract

Samples: Ground Lease

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