Common use of Construction Contract; Cost Budget Clause in Contracts

Construction Contract; Cost Budget. Tenant shall engage the Contractor under a contract in a form reasonably approved by Landlord (collectively, the “Contract”). Landlord’s failure to respond to Tenant’s request for approval of the Contract within five (5) business days shall constitute Landlord’s deemed approval of the Contract. Prior to the commencement of the construction of the Expansion Improvements, Tenant shall provide a copy of the Contract to Landlord for its records. In addition, prior to the commencement of the construction of the Expansion Improvements, and after Tenant has accepted all bids for the Expansion 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 Expansion Improvements to be performed by or at the direction of Tenant or the Contractor, which costs form a basis for the amount of the Contract (the “Final Costs”).

Construction Contract; Cost Budget. Tenant shall engage the Contractor under a contract in a form reasonably approved by Landlord (collectively, the “Contract”). Landlord’s failure to respond to Tenant’s request for approval of the Contract within five (5) business days shall constitute Landlord’s deemed approval of the Contract. Prior to the commencement of the construction of the Expansion Additional Improvements, Tenant shall provide a copy of the Contract to Landlord for its records. In addition, prior to the commencement of the construction of the Expansion Additional Improvements, and after Tenant has accepted all bids for the Expansion Additional 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 Expansion Additional Improvements to be performed by or at the direction of Tenant or the Contractor, which costs form a basis for the amount of the Contract (the “Final Costs”).