{"component": "clause", "props": {"groups": [{"size": 144, "samples": [{"hash": "imzBFNIinjG", "uri": "/contracts/imzBFNIinjG#construction-contract-cost-budget", "label": "Office Lease (Recursion Pharmaceuticals, Inc.)", "score": 32.1553726196, "published": true}, {"hash": "A6EfsfIhGl", "uri": "/contracts/A6EfsfIhGl#construction-contract-cost-budget", "label": "Office Lease (Recursion Pharmaceuticals, Inc.)", "score": 31.353181839, "published": true}, {"hash": "7G4RYvxPxIo", "uri": "/contracts/7G4RYvxPxIo#construction-contract-cost-budget", "label": "Office Lease (Recursion Pharmaceuticals, Inc.)", "score": 31.2217655182, "published": true}], "snippet": "Prior to execution of a construction contract, Tenant shal] submit a copy of the proposed contract with the Contractor for the construction of the Tenant Improvements, including the genera] conditions with Contractor (the \u201cContract\u201d) to Landlord for its approval, which approval shall not be unreasonably withheld, conditioned or delayed. Following execution of the Contract and prior to commencement of construction, Tenant shall provide Landlord with a fully executed copy of the Contract for Landlord\u2019s records. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids and proposals for the Tenant Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, for all of Tenant\u2019s Agents, of the final estimated costs to be incurred or which have been incurred in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor (the \u201cConstruction Budget\u201d), which costs shall include, but not be limited to, the costs of the Architect\u2019s and Engineers\u2019 fees and the Landlord Coordination Fee. The amount, if any, by which the total costs set forth in the Construction Budget exceed the amount of the Tenant Improvement Allowance is referred to herein as the \u201cOver Allowance Amount\u201d. In the event that an Over-Allowance Amount exists, then prior to the commencement of construction of the Tenant Improvements, Tenant shall supply Landlord with cash in an amount equal to the Over- Allowance Amount. The Over-Allowance Amount shall be disbursed by Landlord prior to the 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 total costs set forth in the Construction Budget have been delivered by Tenant to Landlord, the costs relating to the design and construction of the Tenant Improvements shall change, any additional costs for such design and construction in excess of the total costs set forth in the Construction Budget shall be added to the Over-Allowance Amount and the total costs set forth in the Construction Budget, and such additional costs shall be paid by Tenant to Landlord immediately as an addition to the Over-Allowance Amount or at Landlord\u2019s option, Tenant shall make payments for such additional costs out of its own funds, but Tenant shall continue to provide Landlord with the documents described in items (1), (ii), (iii) and (iv) of Section 2.2.2.1 of this Tenant Work Letter, above, for Landlord\u2019s approval, prior to Tenant paying such costs. All Tenant Improvements paid for by the Over-Allowance Amount shall be deemed Landlord\u2019s property under the terms of the Lease.", "snippet_links": [{"key": "a-construction-contract", "type": "definition", "offset": [22, 45]}, {"key": "proposed-contract", "type": "definition", "offset": [81, 98]}, {"key": "the-contractor", "type": "definition", "offset": [104, 118]}, {"key": "construction-of-the-tenant-improvements", "type": "clause", "offset": [127, 166]}, {"key": "execution-of-the-contract", "type": "clause", "offset": [349, 374]}, {"key": "prior-to-commencement-of-construction", "type": "clause", "offset": [379, 416]}, {"key": "tenant-shall", "type": "clause", "offset": [418, 430]}, {"key": "for-landlord", "type": "definition", "offset": [491, 503]}, {"key": "commencement-of-the", "type": "clause", "offset": [528, 547]}, {"key": "after-tenant", "type": "definition", "offset": [593, 605]}, {"key": "all-of-tenant", "type": "definition", "offset": [742, 755]}, {"key": "the-final", "type": "clause", "offset": [769, 778]}, {"key": "estimated-costs", "type": "definition", "offset": [779, 794]}, {"key": "in-connection-with", "type": "clause", "offset": [838, 856]}, {"key": "design-and-construction-of-the", "type": "clause", "offset": [861, 891]}, {"key": "performed-by", "type": "clause", "offset": [918, 930]}, {"key": "construction-budget", "type": "clause", "offset": [985, 1004]}, {"key": "costs-of", "type": "definition", "offset": [1062, 1070]}, {"key": "the-architect", "type": "definition", "offset": [1071, 1084]}, {"key": "landlord-coordination-fee", "type": "clause", "offset": [1115, 1140]}, {"key": "total-costs", "type": "clause", "offset": [1175, 1186]}, {"key": "tenant-improvement-allowance", "type": "definition", "offset": [1249, 1277]}, {"key": "allowance-amount", "type": "clause", "offset": [1313, 1329]}, {"key": "in-the-event", "type": "clause", "offset": [1332, 1344]}, {"key": "equal-to", "type": "definition", "offset": [1510, 1518]}, {"key": "by-landlord", "type": "clause", "offset": [1592, 1603]}, {"key": "remaining-portion", "type": "definition", "offset": [1649, 1666]}, {"key": "pursuant-to-the", "type": "definition", "offset": [1735, 1750]}, {"key": "after-the-total", "type": "clause", "offset": [1822, 1837]}, {"key": "by-tenant-to-landlord", "type": "clause", "offset": [1901, 1922]}, {"key": "relating-to", "type": "definition", "offset": [1934, 1945]}, {"key": "additional-costs", "type": "clause", "offset": [2019, 2035]}, {"key": "payments-for", "type": "clause", "offset": [2398, 2410]}, {"key": "own-funds", "type": "clause", "offset": [2444, 2453]}, {"key": "continue-to-provide", "type": "clause", "offset": [2472, 2491]}, {"key": "the-documents", "type": "clause", "offset": [2506, 2519]}, {"key": "tenant-work-letter", "type": "clause", "offset": [2592, 2610]}, {"key": "to-tenant", "type": "clause", "offset": [2650, 2659]}, {"key": "all-tenant", "type": "definition", "offset": [2679, 2689]}, {"key": "terms-of-the-lease", "type": "clause", "offset": [2787, 2805]}], "hash": "1d5ac624e0dbc3da24948c74893acb84", "id": 1}, {"size": 5, "samples": [{"hash": "7OT35J13QUp", "uri": "/contracts/7OT35J13QUp#construction-contract-cost-budget", "label": "Industrial/Commercial Lease (Hei Inc)", "score": 21.0, "published": true}], "snippet": "Prior to Tenant\u2019s execution of the construction contract and general conditions with Contractor (the \u201cContract\u201d) for each phase of improvements, Tenant shall submit the Contract to Landlord for its approval, 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 for such phase, Tenant shall provide Landlord with a detailed breakdown, by trade, of the final costs to be incurred or which have been incurred 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 amount of the Contract.", "snippet_links": [{"key": "to-tenant", "type": "clause", "offset": [6, 15]}, {"key": "the-construction-contract", "type": "clause", "offset": [31, 56]}, {"key": "general-conditions", "type": "definition", "offset": [61, 79]}, {"key": "phase-of", "type": "clause", "offset": [122, 130]}, {"key": "tenant-shall", "type": "clause", "offset": [145, 157]}, {"key": "to-landlord", "type": "clause", "offset": [178, 189]}, {"key": "commencement-of-the", "type": "clause", "offset": [283, 302]}, {"key": "construction-of-the-tenant-improvements", "type": "clause", "offset": [303, 342]}, {"key": "after-tenant", "type": "definition", "offset": [348, 360]}, {"key": "final-costs", "type": "definition", "offset": [501, 512]}, {"key": "in-connection-with", "type": "clause", "offset": [556, 574]}, {"key": "design-and-construction-of-the", "type": "clause", "offset": [579, 609]}, {"key": "performed-by", "type": "clause", "offset": [636, 648]}, {"key": "of-tenant", "type": "clause", "offset": [669, 678]}, {"key": "the-contractor", "type": "definition", "offset": [682, 696]}, {"key": "form-a", "type": "clause", "offset": [710, 716]}, {"key": "amount-of-the-contract", "type": "clause", "offset": [731, 753]}], "hash": "36d5451ad56fe2acfacef177e7fb7c05", "id": 7}, {"size": 16, "samples": [{"hash": "5NEU92hYWHJ", "uri": "/contracts/5NEU92hYWHJ#construction-contract-cost-budget", "label": "Lease (Maze Therapeutics, Inc.)", "score": 34.0171127319, "published": true}, {"hash": "g4Ox6pymVUG", "uri": "/contracts/g4Ox6pymVUG#construction-contract-cost-budget", "label": "Lease (Oric Pharmaceuticals, Inc.)", "score": 30.622177124, "published": true}, {"hash": "fqDQcrqXEsd", "uri": "/contracts/fqDQcrqXEsd#construction-contract-cost-budget", "label": "Lease (RAPT Therapeutics, Inc.)", "score": 30.5058174133, "published": true}], "snippet": "Tenant shall engage the Contractor under a commercially reasonable and customary construction contract (collectively, the \u201cContract\u201d). Prior to the commencement of the construction of any Phase 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 in connection with the design and construction of the relevant Phase 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 relevant Phase of the Tenant Improvements (each, a \u201cFinal Budget\u201d). Any costs of design and construction of the Tenant Improvements in excess of the Tenant Improvement Allowance shall be paid by Tenant out of its own funds once the Tenant Improvement Allowance is exhausted, but Tenant shall continue to provide Landlord with the documents described in Sections 2.2.2.1(i), (ii), (iii) and (iv) of this Tenant Work Letter, above, for Landlord\u2019s approval, prior to Tenant paying such costs.", "snippet_links": [{"key": "tenant-shall", "type": "clause", "offset": [0, 12]}, {"key": "the-contractor", "type": "definition", "offset": [20, 34]}, {"key": "reasonable-and-customary", "type": "clause", "offset": [56, 80]}, {"key": "construction-contract", "type": "definition", "offset": [81, 102]}, {"key": "the-construction", "type": "clause", "offset": [164, 180]}, {"key": "phase-of", "type": "clause", "offset": [188, 196]}, {"key": "after-tenant", "type": "definition", "offset": [226, 238]}, {"key": "final-costs", "type": "definition", "offset": [364, 375]}, {"key": "in-connection-with", "type": "clause", "offset": [419, 437]}, {"key": "relevant-phase", "type": "definition", "offset": [473, 487]}, {"key": "performed-by", "type": "clause", "offset": [521, 533]}, {"key": "of-tenant", "type": "clause", "offset": [554, 563]}, {"key": "form-a", "type": "clause", "offset": [595, 601]}, {"key": "work-of-the", "type": "clause", "offset": [645, 656]}, {"key": "final-budget", "type": "definition", "offset": [709, 721]}, {"key": "construction-of-the-tenant-improvements", "type": "clause", "offset": [749, 788]}, {"key": "tenant-improvement-allowance", "type": "definition", "offset": [806, 834]}, {"key": "by-tenant", "type": "clause", "offset": [849, 858]}, {"key": "own-funds", "type": "clause", "offset": [870, 879]}, {"key": "continue-to-provide", "type": "clause", "offset": [949, 968]}, {"key": "the-documents", "type": "clause", "offset": [983, 996]}, {"key": "tenant-work-letter", "type": "clause", "offset": [1060, 1078]}, {"key": "for-landlord", "type": "definition", "offset": [1087, 1099]}, {"key": "to-tenant", "type": "clause", "offset": [1118, 1127]}], "hash": "e7eea18d0dbf78326e0c16fae488a707", "id": 2}, {"size": 14, "samples": [{"hash": "2PTfBiaXcqP", "uri": "/contracts/2PTfBiaXcqP#construction-contract-cost-budget", "label": "Office Lease", "score": 31.3408622742, "published": true}, {"hash": "fCTJO0LSunM", "uri": "/contracts/fCTJO0LSunM#construction-contract-cost-budget", "label": "Sublease (Revolution Medicines, Inc.)", "score": 30.8288841248, "published": true}, {"hash": "bVqaGXnPp3G", "uri": "/contracts/bVqaGXnPp3G#construction-contract-cost-budget", "label": "Sublease (OncoMed Pharmaceuticals Inc)", "score": 30.1772766113, "published": true}], "snippet": "Tenant shall engage the Contractor under a commercially reasonable and customary construction contract, reasonably approved by Landlord (collectively, the \u201cContract\u201d). 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 \u201cFinal Budget\u201d). Prior to the commencement of construction of the Tenant Improvements, Tenant shall inform Landlord of the amount (the \u201cOver-Allowance Amount\u201d), 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.", "snippet_links": [{"key": "tenant-shall", "type": "clause", "offset": [0, 12]}, {"key": "the-contractor", "type": "definition", "offset": [20, 34]}, {"key": "reasonable-and-customary", "type": "clause", "offset": [56, 80]}, {"key": "construction-contract", "type": "definition", "offset": [81, 102]}, {"key": "by-landlord", "type": "clause", "offset": [124, 135]}, {"key": "construction-of-the-tenant-improvements", "type": "clause", "offset": [201, 240]}, {"key": "after-tenant", "type": "definition", "offset": [246, 258]}, {"key": "final-costs", "type": "definition", "offset": [384, 395]}, {"key": "in-connection-with", "type": "clause", "offset": [515, 533]}, {"key": "design-and-construction-of-the", "type": "clause", "offset": [538, 568]}, {"key": "performed-by", "type": "clause", "offset": [595, 607]}, {"key": "of-tenant", "type": "clause", "offset": [628, 637]}, {"key": "form-a", "type": "clause", "offset": [669, 675]}, {"key": "work-of-the", "type": "clause", "offset": [719, 730]}, {"key": "improvement-project", "type": "definition", "offset": [738, 757]}, {"key": "final-budget", "type": "definition", "offset": [764, 776]}, {"key": "commencement-of-construction", "type": "definition", "offset": [793, 821]}, {"key": "allowance-amount", "type": "clause", "offset": [904, 920]}, {"key": "tenant-improvement-allowance", "type": "definition", "offset": [998, 1026]}, {"key": "in-the-process", "type": "definition", "offset": [1087, 1101]}, {"key": "before-the-commencement", "type": "clause", "offset": [1140, 1163]}, {"key": "to-pay", "type": "clause", "offset": [1237, 1243]}, {"key": "progress-payments", "type": "clause", "offset": [1273, 1290]}, {"key": "pro-rata-basis", "type": "definition", "offset": [1296, 1310]}, {"key": "based-on", "type": "clause", "offset": [1311, 1319]}, {"key": "the-total", "type": "clause", "offset": [1320, 1329]}], "hash": "93704450170e59bb14373483bef2363b", "id": 3}, {"size": 9, "samples": [{"hash": "7vbyyuA9mdZ", "uri": "/contracts/7vbyyuA9mdZ#construction-contract-cost-budget", "label": "Lease Agreement (Fate Therapeutics Inc)", "score": 31.1656398773, "published": true}], "snippet": "Prior to Tenant\u2019s execution of the construction contract and general conditions with Contractor (the \u201cContract\u201d), Tenant shall submit the Contract to Landlord for its approval, which approval shall not be unreasonably withheld or delayed and shall be deemed given if Landlord does not reasonably object to a request for approval within three (3) business days of Tenant\u2019s written request if such failure continues for one (1) additional business day after Tenant\u2019s second written request. 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 cost breakdown (the \u201cBudgeted Costs Statement\u201d), by trade, of the total costs to be incurred, or which have been incurred, as set forth more particularly in Sections 2.2.1.1 through 2.2.1.7 above, in connection with the design, permitting and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor (the \u201cBudgeted Costs\u201d). After completion of the construction of the Tenant Improvements, and after Tenant has paid all invoices for the Tenant Improvements, Tenant shall provide Landlord with a written detailed cost breakdown (the \u201cFinal Costs Statement\u201d), by trade, of the final costs actually incurred, as set forth more particularly in Section 2.2.1.1 through 2.2.1.7 above, in connection with the design, permitting and construction of the Tenant Improvements performed by or at the direction of Tenant or the Contractor (the \u201cFinal Costs\u201d). Notwithstanding anything in this Lease to the contrary, (a) if the Budgeted Costs Statement shows that the Budgeted Costs are projected to be less than $49,720,000.00 (the amount of such difference is referred to herein as the \u201cBudget Differential\u201d), then the Tenant Improvement Allowance shall be reduced by an amount equal to [***] of the Budget Differential (such [***] amount, the \u201cBudget Reduction Amount\u201d),1 and the original L-C Amount (of $15,000,000) shall be reduced by [***] of the Budget Reduction Amount and (b) if the Final Costs Statement shows Final Costs are less than $49,720,000.00 (the amount of such difference is referred to herein as the \u201cFinal Differential\u201d), and provided that Landlord had disbursed to Tenant the entire Tenant Improvement Allowance of $29,832,000.00, then Tenant shall pay to Landlord within ten (10) days of Landlord\u2019s request following Landlord\u2019s receipt of the Final Costs Statement (and Tenant\u2019s failure to so pay within such 10-day period shall constitute a default under the Lease) the amount of [***] of the Final Differential (the \u201cFinal Reduction Amount\u201d), and the original L-C Amount (of $15,000,000) shall be reduced by 50% of the Final Reduction Amount. Any reduction of the original L-C Amount pursuant to the preceding sentence shall reduce the three amounts set forth in Section 20.3.2 above by, respectively, [***] of the amount of reduction of the original L-C Amount.", "snippet_links": [{"key": "to-tenant", "type": "clause", "offset": [6, 15]}, {"key": "the-construction-contract", "type": "clause", "offset": [31, 56]}, {"key": "general-conditions", "type": "definition", "offset": [61, 79]}, {"key": "tenant-shall", "type": "clause", "offset": [114, 126]}, {"key": "to-landlord", "type": "clause", "offset": [147, 158]}, {"key": "request-for-approval", "type": "definition", "offset": [308, 328]}, {"key": "of-tenant", "type": "clause", "offset": [360, 369]}, {"key": "written-request", "type": "definition", "offset": [372, 387]}, {"key": "additional-business-day", "type": "definition", "offset": [426, 449]}, {"key": "after-tenant", "type": "definition", "offset": [450, 462]}, {"key": "commencement-of-the", "type": "clause", "offset": [502, 521]}, {"key": "construction-of-the-tenant-improvements", "type": "clause", "offset": [522, 561]}, {"key": "detailed-cost-breakdown", "type": "clause", "offset": [676, 699]}, {"key": "budgeted-costs", "type": "definition", "offset": [706, 720]}, {"key": "total-costs", "type": "clause", "offset": [751, 762]}, {"key": "in-connection-with", "type": "clause", "offset": [882, 900]}, {"key": "the-design", "type": "clause", "offset": [901, 911]}, {"key": "permitting-and-construction", "type": "clause", "offset": [913, 940]}, {"key": "performed-by", "type": "clause", "offset": [974, 986]}, {"key": "the-contractor", "type": "definition", "offset": [1020, 1034]}, {"key": "completion-of-the", "type": "clause", "offset": [1065, 1082]}, {"key": "final-costs", "type": "definition", "offset": [1267, 1278]}, {"key": "the-final", "type": "clause", "offset": [1305, 1314]}, {"key": "actually-incurred", "type": "definition", "offset": [1321, 1338]}, {"key": "in-this-lease", "type": "clause", "offset": [1606, 1619]}, {"key": "tenant-improvement-allowance", "type": "definition", "offset": [1841, 1869]}, {"key": "equal-to", "type": "definition", "offset": [1900, 1908]}, {"key": "the-budget", "type": "definition", "offset": [1918, 1928]}, {"key": "reduction-amount", "type": "definition", "offset": [1974, 1990]}, {"key": "the-original", "type": "clause", "offset": [1999, 2011]}, {"key": "and-provided-that", "type": "clause", "offset": [2264, 2281]}, {"key": "pay-to", "type": "definition", "offset": [2392, 2398]}, {"key": "of-landlord", "type": "clause", "offset": [2429, 2440]}, {"key": "receipt-of", "type": "clause", "offset": [2472, 2482]}, {"key": "failure-to", "type": "clause", "offset": [2523, 2533]}, {"key": "day-period", "type": "definition", "offset": [2556, 2566]}, {"key": "default-under-the-lease", "type": "clause", "offset": [2586, 2609]}, {"key": "reduction-of", "type": "clause", "offset": [2793, 2805]}, {"key": "pursuant-to-the", "type": "definition", "offset": [2830, 2845]}, {"key": "amount-of-reduction", "type": "clause", "offset": [2961, 2980]}], "hash": "6ddb4a4094be48209e7df79cde422537", "id": 4}, {"size": 6, "samples": [{"hash": "eYcgb6hGHCq", "uri": "/contracts/eYcgb6hGHCq#construction-contract-cost-budget", "label": "Office Lease (Rocket Companies, Inc.)", "score": 31.5133476257, "published": true}, {"hash": "4FBwIjHgEDm", "uri": "/contracts/4FBwIjHgEDm#construction-contract-cost-budget", "label": "Office Lease (Rocket Companies, Inc.)", "score": 31.4750175476, "published": true}, {"hash": "63m5BofeLeh", "uri": "/contracts/63m5BofeLeh#construction-contract-cost-budget", "label": "Lease (Rocket Companies, Inc.)", "score": 29.5133476257, "published": true}], "snippet": "Prior to Tenant\u2019s execution of the construction contract and general conditions with Contractor (the \u201cContract\u201d), Tenant shall submit the Contract to Landlord for its approval, 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 2.2.1.8 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 (which costs form a basis for the amount of the Contract, if any (the \u201cFinal Costs\u201d). Such Final Costs shall also demonstrate any amounts by which the Final Costs exceed the Tenant Improvement Allowance. In the event that, after the Final Costs have been delivered by Landlord to Tenant, the costs relating to the design and construction of the Tenant Improvements shall change, any additional costs necessary to such design and construction in excess of the Final Costs shall, to the extent they exceed the remaining balance of the Tenant Improvement Allowance, Tenant shall make payments for such additional costs out of its own funds, but Tenant shall continue to provide Landlord with the documents described in Sections 2.2.2.1(i), (ii), (iii) and (iv) above, for Landlord\u2019s approval, prior to Tenant paying such costs.", "snippet_links": [{"key": "the-construction-contract", "type": "clause", "offset": [31, 56]}, {"key": "general-conditions", "type": "definition", "offset": [61, 79]}, {"key": "tenant-shall", "type": "clause", "offset": [114, 126]}, {"key": "to-landlord", "type": "clause", "offset": [147, 158]}, {"key": "commencement-of-the", "type": "clause", "offset": [252, 271]}, {"key": "construction-of-the-tenant-improvements", "type": "clause", "offset": [272, 311]}, {"key": "after-tenant", "type": "definition", "offset": [317, 329]}, {"key": "final-costs", "type": "definition", "offset": [455, 466]}, {"key": "in-connection-with", "type": "clause", "offset": [586, 604]}, {"key": "design-and-construction-of-the", "type": "clause", "offset": [609, 639]}, {"key": "performed-by", "type": "clause", "offset": [666, 678]}, {"key": "of-tenant", "type": "clause", "offset": [699, 708]}, {"key": "the-contractor", "type": "definition", "offset": [712, 726]}, {"key": "form-a", "type": "clause", "offset": [740, 746]}, {"key": "amount-of-the-contract", "type": "clause", "offset": [761, 783]}, {"key": "tenant-improvement-allowance", "type": "definition", "offset": [901, 929]}, {"key": "in-the-event", "type": "clause", "offset": [931, 943]}, {"key": "by-landlord-to-tenant", "type": "clause", "offset": [992, 1013]}, {"key": "relating-to", "type": "definition", "offset": [1025, 1036]}, {"key": "additional-costs", "type": "clause", "offset": [1110, 1126]}, {"key": "to-the-extent", "type": "clause", "offset": [1205, 1218]}, {"key": "balance-of-the", "type": "clause", "offset": [1245, 1259]}, {"key": "payments-for", "type": "clause", "offset": [1308, 1320]}, {"key": "own-funds", "type": "clause", "offset": [1354, 1363]}, {"key": "continue-to-provide", "type": "clause", "offset": [1382, 1401]}, {"key": "the-documents", "type": "clause", "offset": [1416, 1429]}, {"key": "for-landlord", "type": "definition", "offset": [1492, 1504]}], "hash": "5edf3fc269dc789988e695d3c4021c9f", "id": 5}, {"size": 5, "samples": [{"hash": "dewwm4ueTl5", "uri": "/contracts/dewwm4ueTl5#construction-contract-cost-budget", "label": "Triple Net Space Lease (Biotech Spinco, Inc.)", "score": 21.0, "published": true}, {"hash": "7I9u2uU2xZh", "uri": "/contracts/7I9u2uU2xZh#construction-contract-cost-budget", "label": "Triple Net Space Lease (PDL Biopharma, Inc.)", "score": 21.0, "published": true}], "snippet": "Within two (2) business days of its execution by Lessee and Contractor, Lessee shall deliver to Lessor a copy of the Construction Contract, along with a budget for the construction of the Lessee Improvements. Prior to the earlier to occur of: (i) two (2) business days after execution by Lessee and Contractor of the Construction Contract, or (ii) the date on which Lessee receives any permits necessary to commence to build the Lessee Improvements, Lessee shall deliver to Lessor, the Improvements Letter of Credit Security.", "snippet_links": [{"key": "business-days-of", "type": "clause", "offset": [15, 31]}, {"key": "execution-by-lessee", "type": "clause", "offset": [36, 55]}, {"key": "lessee-shall", "type": "clause", "offset": [72, 84]}, {"key": "to-lessor", "type": "definition", "offset": [93, 102]}, {"key": "the-construction-contract", "type": "clause", "offset": [113, 138]}, {"key": "lessee-improvements", "type": "definition", "offset": [188, 207]}, {"key": "prior-to-the", "type": "clause", "offset": [209, 221]}, {"key": "days-after", "type": "definition", "offset": [264, 274]}, {"key": "lessee-receives", "type": "clause", "offset": [366, 381]}, {"key": "the-improvements", "type": "clause", "offset": [482, 498]}, {"key": "letter-of-credit-security", "type": "clause", "offset": [499, 524]}], "hash": "0510db76358c48ecb0541e5666d3f801", "id": 6}, {"size": 4, "samples": [{"hash": "A6EfsfIhGl", "uri": "/contracts/A6EfsfIhGl#construction-contract-cost-budget", "label": "Office Lease (Recursion Pharmaceuticals, Inc.)", "score": 31.353181839, "published": true}, {"hash": "7G4RYvxPxIo", "uri": "/contracts/7G4RYvxPxIo#construction-contract-cost-budget", "label": "Office Lease (Recursion Pharmaceuticals, Inc.)", "score": 31.2217655182, "published": true}, {"hash": "eYbqJEVFuMb", "uri": "/contracts/eYbqJEVFuMb#construction-contract-cost-budget", "label": "Office Lease (Recursion Pharmaceuticals, Inc.)", "score": 30.6139621735, "published": true}], "snippet": "Prior to execution of a construction contract, Tenant shall submit a copy of the proposed contract with the Contractor for the construction of the Tenant Improvements, including the general conditions with Contractor (the \u201cContract\u201d) to Landlord for its approval, which approval shall not be unreasonably withheld, conditioned or delayed. Following execution of the Contract and prior to commencement of construction, Tenant shall provide Landlord with a fully executed copy of the Contract for Landlord's records. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids and proposals for the Tenant Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, for all of Tenant's Agents, of the final estimated costs to be incurred or which have been incurred in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor (the \u201cConstruction Budget\u201d), which costs shall include, but not be limited to, the costs of the Architect's and Engineers' fees and the Landlord Coordination Fee. The amount, if any, by which the", "snippet_links": [{"key": "a-construction-contract", "type": "definition", "offset": [22, 45]}, {"key": "tenant-shall", "type": "clause", "offset": [47, 59]}, {"key": "proposed-contract", "type": "definition", "offset": [81, 98]}, {"key": "the-contractor", "type": "definition", "offset": [104, 118]}, {"key": "construction-of-the-tenant-improvements", "type": "clause", "offset": [127, 166]}, {"key": "the-general-conditions", "type": "clause", "offset": [178, 200]}, {"key": "to-landlord", "type": "clause", "offset": [234, 245]}, {"key": "execution-of-the-contract", "type": "clause", "offset": [349, 374]}, {"key": "prior-to-commencement-of-construction", "type": "clause", "offset": [379, 416]}, {"key": "for-landlord", "type": "definition", "offset": [491, 503]}, {"key": "commencement-of-the", "type": "clause", "offset": [528, 547]}, {"key": "after-tenant", "type": "definition", "offset": [593, 605]}, {"key": "all-of-tenant", "type": "definition", "offset": [742, 755]}, {"key": "the-final", "type": "clause", "offset": [769, 778]}, {"key": "estimated-costs", "type": "definition", "offset": [779, 794]}, {"key": "in-connection-with", "type": "clause", "offset": [838, 856]}, {"key": "design-and-construction-of-the", "type": "clause", "offset": [861, 891]}, {"key": "performed-by", "type": "clause", "offset": [918, 930]}, {"key": "construction-budget", "type": "clause", "offset": [985, 1004]}, {"key": "costs-of", "type": "definition", "offset": [1062, 1070]}, {"key": "the-architect", "type": "definition", "offset": [1071, 1084]}, {"key": "landlord-coordination-fee", "type": "clause", "offset": [1115, 1140]}], "hash": "21671ce27ae0ae31ce16de373e9b5df3", "id": 8}, {"size": 4, "samples": [{"hash": "1y01zDjKIVS", "uri": "/contracts/1y01zDjKIVS#construction-contract-cost-budget", "label": "Office Lease (Lyft, Inc.)", "score": 30.2073917389, "published": true}, {"hash": "bhhNZI8CD2O", "uri": "/contracts/bhhNZI8CD2O#construction-contract-cost-budget", "label": "Office Lease (Lyft, Inc.)", "score": 30.1608486176, "published": true}], "snippet": "Tenant shall engage the Contractor under a contract in a form reasonably approved by Landlord (collectively, the \u201cContract\u201d). Landlord\u2019s failure to respond to Tenant\u2019s request for approval of the Contract within five (5) business days shall constitute Landlord\u2019s deemed approval of the Contract. Prior to the commencement of the construction of the 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 Additional Improvements, and after Tenant has accepted all bids for the 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 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 \u201cFinal Costs\u201d).", "snippet_links": [{"key": "tenant-shall", "type": "clause", "offset": [0, 12]}, {"key": "the-contractor", "type": "definition", "offset": [20, 34]}, {"key": "by-landlord", "type": "clause", "offset": [82, 93]}, {"key": "to-tenant", "type": "clause", "offset": [156, 165]}, {"key": "approval-of-the-contract", "type": "clause", "offset": [180, 204]}, {"key": "business-days", "type": "clause", "offset": [221, 234]}, {"key": "deemed-approval", "type": "clause", "offset": [263, 278]}, {"key": "the-construction", "type": "clause", "offset": [325, 341]}, {"key": "additional-improvements", "type": "definition", "offset": [349, 372]}, {"key": "copy-of-the-contract", "type": "clause", "offset": [397, 417]}, {"key": "to-landlord", "type": "clause", "offset": [418, 429]}, {"key": "in-addition", "type": "clause", "offset": [447, 458]}, {"key": "after-tenant", "type": "definition", "offset": [542, 554]}, {"key": "final-costs", "type": "definition", "offset": [684, 695]}, {"key": "in-connection-with", "type": "clause", "offset": [815, 833]}, {"key": "design-and-construction-of-the", "type": "clause", "offset": [838, 868]}, {"key": "performed-by", "type": "clause", "offset": [899, 911]}, {"key": "of-tenant", "type": "clause", "offset": [932, 941]}, {"key": "form-a", "type": "clause", "offset": [973, 979]}, {"key": "amount-of-the-contract", "type": "clause", "offset": [994, 1016]}], "hash": "6111a5ab3477eb0b6924c0ba1767a5e3", "id": 9}, {"size": 3, "samples": [{"hash": "80ZQ7Kn6BeP", "uri": "/contracts/80ZQ7Kn6BeP#construction-contract-cost-budget", "label": "Lease Agreement (Repligen Corp)", "score": 31.1519508362, "published": true}, {"hash": "iXgV4hVcorY", "uri": "/contracts/iXgV4hVcorY#construction-contract-cost-budget", "label": "Lease Agreement (Repligen Corp)", "score": 30.1608486176, "published": true}, {"hash": "c4Yc4p2oMSI", "uri": "/contracts/c4Yc4p2oMSI#construction-contract-cost-budget", "label": "Lease (Repligen Corp)", "score": 22.5140323639, "published": true}], "snippet": "Tenant shall provide Landlord with a copy, for informational purposes only, of (a) Tenant\u2019s construction contract with Contractor (the \u201cContract\u201d); (b) a breakdown (the \u201cFinal Cost Budget\u201d), by trade, of the final costs to be incurred (which may be based upon estimates) or which have been incurred, in connection with the design and construction of the Tenant Improvements, including costs which form a basis for the amount of the Contract (the \u201cFinal Costs\u201d). The Contract must contain a provision for a holdback of at least ten percent (10%) of each progress payment until at least substantial completion of the work. Prior to submitting its first request for a funding of the Tenant Improvement Allowance, Tenant and Landlord shall identify the amount (the \u201cOver-Allowance Amount\u201d) equal to the difference between (i) the amount of the Final Costs or projected Final Costs, and (ii) the total amount of the Tenant Improvement Allowance. With regard to any such Over-Allowance Amount, concurrently with Landlord\u2019s distribution of the Tenant Improvement Allowance, Tenant shall make payments related to such Over-Allowance Amount out of its own funds, on a pro rata basis with the funding of the Tenant Improvement Allowance. Tenant shall provide Landlord with evidence of its funding of its share concurrently with its draw requests.", "snippet_links": [{"key": "tenant-shall", "type": "clause", "offset": [0, 12]}, {"key": "with-a-copy", "type": "definition", "offset": [30, 41]}, {"key": "for-informational-purposes-only", "type": "clause", "offset": [43, 74]}, {"key": "contract-with-contractor", "type": "clause", "offset": [105, 129]}, {"key": "cost-budget", "type": "clause", "offset": [176, 187]}, {"key": "final-costs", "type": "definition", "offset": [208, 219]}, {"key": "in-connection-with", "type": "clause", "offset": [300, 318]}, {"key": "construction-of-the-tenant-improvements", "type": "clause", "offset": [334, 373]}, {"key": "form-a", "type": "clause", "offset": [397, 403]}, {"key": "amount-of-the-contract", "type": "clause", "offset": [418, 440]}, {"key": "progress-payment", "type": "definition", "offset": [553, 569]}, {"key": "substantial-completion-of-the-work", "type": "definition", "offset": [585, 619]}, {"key": "prior-to", "type": "clause", "offset": [621, 629]}, {"key": "request-for", "type": "definition", "offset": [651, 662]}, {"key": "tenant-improvement-allowance", "type": "definition", "offset": [680, 708]}, {"key": "landlord-shall", "type": "clause", "offset": [721, 735]}, {"key": "allowance-amount", "type": "clause", "offset": [767, 783]}, {"key": "equal-to", "type": "definition", "offset": [786, 794]}, {"key": "total-amount", "type": "definition", "offset": [891, 903]}, {"key": "with-regard-to", "type": "clause", "offset": [941, 955]}, {"key": "distribution-of", "type": "clause", "offset": [1017, 1032]}, {"key": "make-payments", "type": "clause", "offset": [1080, 1093]}, {"key": "related-to", "type": "clause", "offset": [1094, 1104]}, {"key": "own-funds", "type": "clause", "offset": [1143, 1152]}, {"key": "pro-rata-basis", "type": "definition", "offset": [1159, 1173]}, {"key": "the-funding", "type": "clause", "offset": [1179, 1190]}, {"key": "evidence-of", "type": "definition", "offset": [1263, 1274]}, {"key": "draw-requests", "type": "clause", "offset": [1322, 1335]}], "hash": "ecb02f293f1bee1803dc1a8293dd320b", "id": 10}], "next_curs": "CmoSZGoVc35sYXdpbnNpZGVyY29udHJhY3RzckYLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Iipjb25zdHJ1Y3Rpb24tY29udHJhY3QtY29zdC1idWRnZXQjMDAwMDAwMGEMogECZW4YACAA", "clause": {"size": 248, "title": "Construction Contract; Cost Budget", "children": [["construction-contract", "Construction Contract"], ["cost-budget", "Cost Budget"], ["lump-sum-disbursement-option", "Lump Sum Disbursement Option"], ["general-terms", "General Terms"], ["special-coverages", "Special Coverages"]], "parents": [["construction-of-tenant-improvements-by-tenants-agents", "Construction of Tenant Improvements by Tenants Agents"], ["construction-of-the-tenant-improvements", "Construction of the Tenant Improvements"], ["miscellaneous-provisions", "Miscellaneous Provisions"], ["no-further-modification", "No Further Modification"], ["tenant-improvements", "Tenant Improvements"]], "id": "construction-contract-cost-budget", "related": [["construction-cost-budget", "Construction Cost Budget", "Construction Cost Budget"], ["construction-budget", "Construction Budget", "Construction Budget"], ["project-cost-overruns", "Project Cost Overruns", "Project Cost Overruns"], ["project-budget", "Project Budget", "Project Budget"], ["project-costs", "Project Costs", "Project Costs"]], "related_snippets": [], "updated": "2026-07-18T04:26:07+00:00", "also_ask": ["What mechanisms ensure the cost budget is binding and enforceable in court?", "How can parties negotiate flexibility for unforeseen costs without undermining budget discipline?", "What are the essential drafting elements to prevent scope creep and budget overruns?", "How does this cost budget clause compare to industry-standard approaches in similar contracts?", "What are the most common legal pitfalls or fatal flaws in cost budget clauses?"], "drafting_tip": "Specify allowable costs, set budget limits, and require approval for overruns to control expenses and prevent disputes.", "explanation": "The 'Construction Contract; Cost Budget' clause establishes the requirement for a detailed budget outlining the anticipated costs associated with a construction project. This clause typically mandates that the contractor or project manager prepare and submit a comprehensive cost estimate, which may include line items for labor, materials, equipment, and contingencies. By setting clear financial expectations and providing a framework for monitoring expenses, this clause helps prevent cost overruns and ensures that all parties are aligned on the project's financial parameters."}, "json": true, "cursor": ""}}