Common use of Construction Contract; Cost Budget Clause in Contracts

Construction Contract; Cost Budget. Tenant shall engage the Contractor under a commercially reasonable and customary construction contract, reasonably approved by Landlord (collectively, the “Contract”). Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids for the Tenant Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, of the final costs to be incurred or which have been incurred, as set forth more particularly in Sections 2.2.1.1 through 2.2.1.9, above, in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor, which costs form a basis for the estimated total costs of the work of the Tenant Improvement project (the “Final Budget”). Prior to the commencement of construction of the Tenant Improvements, Tenant shall inform Landlord of the amount (the “Over-Allowance Amount”), if any, by which the amount of the Final Budget exceeds the amount of the Tenant Improvement Allowance (less any portion thereof already disbursed by Landlord, or in the process of being disbursed by Landlord, on or before the commencement of construction of the Tenant Improvements). Tenant shall be responsible to pay any Over-Allowance Amount in progress payments on a pro rata basis based on the total Over-Allowance Amount as compared to the Tenant Improvement Allowance.

Construction Contract; Cost Budget. Tenant shall engage submit to Landlord a copy of the construction contract and general conditions with Contractor under a commercially reasonable and customary construction contract, reasonably approved by Landlord (collectively, the “Contract”)) for Landlord’s records. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids for the Tenant Improvements, Tenant shall provide Landlord with a written detailed breakdowncost breakdown (the “Final Costs Statement”), by trade, of the final costs to be incurred incurred, or which have been incurred, as set forth more particularly in Sections Section 2.2.1.1 through 2.2.1.9, 2.2.1.8 above, in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor, Contractor (which costs form a basis for the estimated total costs amount of the work of the Tenant Improvement project Contract, if any (the “Final BudgetCosts”). Prior to To the commencement of construction of the Tenant Improvements, Tenant shall inform Landlord of the amount (the “Over-Allowance Amount”), if any, by which the amount of extent the Final Budget exceeds the amount of Costs exceed the Tenant Improvement Allowance (less any portion thereof already disbursed by Landlord, or in the process of being disbursed by Landlord, on or before the commencement of construction of the Tenant Improvements). , Tenant shall be responsible to pay any make payments for such additional costs (the “Over-Allowance Amount Amount”) out of its own funds, but Tenant shall provide Landlord with the documents described in progress payments on a pro rata basis based on the total Over-Allowance Amount as compared Sections 2.2.2.1(i), (ii), and (iii) above prior to the Tenant Improvement Allowancepaying such costs.

Construction Contract; Cost Budget. Prior to Tenant's execution of the construction contract and general conditions with Contractor (the "Contract"), Tenant shall engage submit the Contractor under a commercially reasonable and customary construction contractContract to Landlord for its approval, reasonably approved by which approval shall not be unreasonably withheld or delayed. Landlord shall advise Tenant within five (collectively, 5) business days after Landlord's receipt of the “Contract”)Contract if the same is unsatisfactory or incomplete in any respect. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids for the Tenant Improvements, Tenant shall provide Landlord with a written detailed breakdowncost breakdown (the "Final Costs Statement"), by trade, of the final costs to be incurred incurred, or which have been incurred, as set forth more particularly in Sections 2.2.1.1 Section 2.3.1.1 through 2.2.1.9, 2.3.1.9 above, in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor, Contractor (which costs form a basis for the estimated total costs of the work of the Tenant Improvement project (the “Final Budget”). Prior to the commencement of construction of the Tenant Improvements, Tenant shall inform Landlord of the amount (the “Over-Allowance Amount”), if any, by which the amount of the Contract, if any (the "Final Budget Costs"). If and to the extent Final Costs as set forth in the Final Costs Statement (or as such Final Costs may subsequently be adjusted based on new information as the work proceeds) exceeds the amount of the Tenant Improvement Allowance (less any portion thereof already disbursed by LandlordAllowance, or in Tenant will pay such overage after the process disbursement of being disbursed by Landlord, on or before the commencement of construction of the Tenant Improvements). Tenant shall be responsible to pay any Over-Allowance Amount in progress payments on a pro rata basis based on the total Over-Allowance Amount as compared to the Tenant Improvement Allowance.

Construction Contract; Cost Budget. Tenant shall engage submit the Contractor under a commercially reasonable and customary construction contractcontract (the "Contract") to Landlord for its approval, reasonably approved by Landlord (collectively, the “Contract”)which approval shall not be unreasonably withheld or delayed. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids for the Tenant Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, of the final costs to be incurred or which have been incurred, as set forth more particularly in Sections 2.2.1.1 through 2.2.1.92.2.1.8 of this Tenant Work Letter, above, in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor, which costs form a basis for the estimated total costs amount of the work of the Tenant Improvement project Contract (the “"Final Budget”Costs"). Prior to the commencement of construction of the Tenant Improvements, Tenant shall inform supply Landlord of the with cash in an amount (the “"Over-Allowance Amount”), if any, by which ") equal to the difference between the amount of the Final Budget exceeds Costs and the amount of the Tenant Improvement Allowance (less any portion thereof already disbursed by Landlord, or in the process of being disbursed by Landlord, on or before the commencement of construction of the Tenant Improvements). Tenant shall be responsible to pay any The Over-Allowance Amount in progress payments on a pro rata basis based on shall be disbursed by Landlord prior to the total Over-Allowance Amount as compared to disbursement of any of the then remaining portion of the Tenant Improvement Allowance., and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. In the event that, after the Final Costs have been delivered by

Construction Contract; Cost Budget. Tenant shall engage submit to Landlord a copy of the construction contract and general conditions with Contractor under a commercially reasonable and customary construction contract, reasonably approved by Landlord (collectively, the “"Contract”)") for Landlord’s records. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids for the Tenant Improvements, Tenant shall provide Landlord with a written detailed breakdowncost breakdown (the "Final Costs Statement"), by trade, of the final costs to be incurred incurred, or which have been incurred, as set forth more particularly in Sections Section 2.2.1.1 through 2.2.1.9, 2.2.1.8 above, in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor, Contractor (which costs form a basis for the estimated total costs of the work of the Tenant Improvement project (the “Final Budget”). Prior to the commencement of construction of the Tenant Improvements, Tenant shall inform Landlord of the amount (the “Over-Allowance Amount”), if any, by which the amount of the Contract, if any (the "Final Budget exceeds Costs"). To the amount of extent the Final Costs exceed the Tenant Improvement Allowance (less any portion thereof already disbursed by Landlord, or in the process of being disbursed by Landlord, on or before the commencement of construction of the Tenant Improvements). , Tenant shall be responsible to pay any make payments for such additional costs (the "Over-Allowance Amount Amount") out of its own funds, but Tenant shall provide Landlord with the documents described in progress payments on a pro rata basis based on the total Over-Allowance Amount as compared Sections 2.2.2.1 (i), (ii), (iii) and (iv) above prior to the Tenant Improvement Allowancepaying such costs.

Construction Contract; Cost Budget. Prior to Tenant's execution of the construction contract and general conditions with Contractor (the "Contract"), Tenant shall engage submit the Contract to Landlord for its approval, which approval shall not be unreasonably withheld or delayed. The Contract shall provide for a guaranteed maximum price or a stipulated sum as the contract amount and shall be fully executed and delivered by Tenant and Contractor under a commercially reasonable and customary construction contract, reasonably approved by Landlord (collectively, prior to the “Contract”)commencement of construction. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids for the Tenant Improvements, Tenant shall provide Landlord with a written detailed breakdowncost breakdown (the "Final Costs Statement"), by trade, of the final costs to be incurred incurred, or which have been incurred, as set forth more particularly in Sections Section 2.2.1.1 through 2.2.1.9, 2.2.1.8 above, in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor, Contractor which costs form a basis for the estimated total costs amount of the work of the Tenant Improvement project Contract, if any (the “"Final Budget”Costs"). Prior to the commencement of construction of the Tenant Improvements, Tenant shall inform supply Landlord of the with evidence that Tenant has cash-on-hand in an amount (the “"Over-Allowance Amount”), if any, ") by which the amount of the Final Budget exceeds the amount of Costs exceed the Tenant Improvement Allowance (less any portion thereof already disbursed by Landlord, or in the process of being disbursed by Landlord, on or before the commencement of construction of the Tenant Improvements). Tenant agrees that Tenant shall be solely responsible to pay any for payment of the Over-Allowance Amount in progress payments on a pro rata basis based on the total Over-Allowance Amount as compared to the Tenant Improvement AllowanceAmount.