Common use of Cost Proposal Clause in Contracts

Cost Proposal. Landlord shall provide Tenant with a cost proposal from the Contractor, which cost proposal shall include, as nearly as possible, all costs to be incurred in connection with the design and construction of the Improvements (the "Cost Proposal"). Tenant shall approve and deliver the Cost Proposal to Landlord within five (5) business days of the receipt of the same, and upon receipt of the same by Landlord, Landlord shall be released by Tenant to purchase the items set forth in the Cost Proposal and to commence the construction relating to such items. The date by which Tenant must approve and deliver the Cost Proposal to Landlord shall be known hereafter as the "Cost Proposal Delivery Date". In the event Tenant does not approve or disapprove the Cost Proposal by the Cost Proposal Delivery Date, Tenant shall be deemed to have approved the same. If Tenant disapproves the Cost Proposal because of a desire to value engineer the Improvements in a manner consistent with, and a logical extension of, the Final Space Plan and Landlord's Building standards, Landlord agrees to cause one (1) revision to the Cost Proposal in an effort to achieve such cost reductions; provided, however, that the time period commencing on the day immediately succeeding the Cost Proposal Delivery Date and ending on the date that Tenant approves the revised Cost Proposal or the initial Cost Proposal shall be deemed to be a period of Tenant Delay.

Cost Proposal. After the Approved Working Drawings are signed by Landlord and Tenant, Landlord shall provide Tenant with a cost proposal from in accordance with the ContractorApproved Working Drawings, which cost proposal shall include, as nearly as possible, the cost of all costs Tenant Improvement Allowance Items to be incurred by Tenant in connection with the design and construction of the Tenant Improvements (the "Cost Proposal"). Tenant shall approve and deliver the Cost Proposal to Landlord within five (5) business days of the receipt of the same, and upon receipt of the same by Landlord, Landlord shall be released by Tenant to purchase the items set forth in the Cost Proposal and to commence the construction relating to such items. The date by which Tenant must approve and deliver the Cost Proposal to Landlord shall be known hereafter as the "Cost Proposal Delivery Date". In Notwithstanding the event Tenant does not approve or disapprove the Cost Proposal by the Cost Proposal Delivery Dateforegoing, Tenant shall be deemed have the right to have approved the same. If Tenant disapproves the object to such Cost Proposal because of a desire prior to value engineer the Improvements in a manner consistent with, and a logical extension of, the Final Space Plan and Landlord's Building standards, Landlord agrees to cause one (1) revision to the Cost Proposal in an effort to achieve such cost reductions; provided, however, that the time period commencing on the day immediately succeeding the Cost Proposal Delivery Date by providing the Landlord with written notice of such objection. In the event Tenant so objects to the Cost Proposal, Tenant shall cause the Architect and/or Engineers to revise the Construction Drawings (the "Revised Construction Drawings") and, following the approval of the Revised Construction Drawings by Landlord and ending on the date that Tenant approves the Tenant, Landlord shall submit a revised Cost Proposal or (the initial "Revised Cost Proposal Proposal") to Tenant for its approval, provided any delay caused by such objection shall be deemed to be a period tenant delay, subject to the terms of Tenant Delay.SECTION 5.2 below. EXHIBIT B 4

Cost Proposal. After the Approved Construction Drawings are signed by Landlord and Tenant, Landlord shall provide Tenant with a cost proposal from in accordance with the ContractorApproved Construction Drawings, which cost proposal shall include, as nearly as possible, the cost of all costs Allowance Items to be incurred by Tenant in connection with the design and construction of the Tenant Improvements and shall include documentation confirming that the subcontractor work was competitively bidded in accordance with Section 4.1.2 above (the "“Cost Proposal"”). Tenant shall approve or disapprove the cost proposal and shall deliver the Cost Proposal to Landlord within five fifteen (515) business days of the receipt of the same, and upon receipt of the same by Landlord, Landlord shall be released by Tenant to purchase the approved items set forth in the Cost Proposal and to commence the construction relating to such items. Notwithstanding the foregoing, if Tenant disapproves of any line items of the Cost Proposal, Landlord and Tenant shall work together to value-engineer the Tenant Improvements in an effort to reduce the Cost Proposal. Once Tenant approved the Cost Proposal, the Cost Proposal cannot be changed and the construction costs as reflected in the Cost Proposal cannot increase without Tenant’s consent. Notwithstanding the foregoing, in no event shall Landlord be liable for any costs in excess of the Allowance and any delays arising in connection with value-engineering the Tenant Improvements shall constitute a Tenant Delay. The date by which Tenant must approve and deliver the Cost Proposal to Landlord shall be known hereafter as the "“Cost Proposal Delivery Date". In the event Tenant does not approve or disapprove the Cost Proposal by the Cost Proposal Delivery Date, Tenant shall be deemed to have approved the same. If Tenant disapproves the Cost Proposal because of a desire to value engineer the Improvements in a manner consistent with, and a logical extension of, the Final Space Plan and Landlord's Building standards, Landlord agrees to cause one (1) revision to the Cost Proposal in an effort to achieve such cost reductions; provided, however, that the time period commencing on the day immediately succeeding the Cost Proposal Delivery Date and ending on the date that Tenant approves the revised Cost Proposal or the initial Cost Proposal shall be deemed to be a period of Tenant Delay”.

Cost Proposal. After the Approved Working Drawings are signed by Landlord and Tenant, Landlord shall cause the Contractor to solicit bids from subcontractors for the construction of the Tenant Improvements and shall provide Tenant with a cost proposal from the Contractor, which cost proposal shall include, as nearly as possible, the cost of all costs Tenant Improvement Allowance Items to be incurred by Tenant in connection with the design and construction of the Improvements Tenant Improvements. Tenant shall approve the cost proposal (the "Cost Proposal"). Tenant ) and shall approve and deliver the Cost Proposal same to Landlord within five (5) business days of the receipt of the same, and upon thereof. Tenant may revised the Approved Working Drawings to effectuate a cost savings in the Cost Proposal or may request that Contractor obtain additional bids from subcontractors for any portion of the work. Any delay resulting from such revision or such rebidding shall be deemed to be a Tenant Delay under Section 5.4. Upon receipt of the same by Landlord, Landlord shall be released by Tenant to purchase independently retain Contractor, on behalf of Tenant, to commence construction of the items set forth Tenant Improvements in accordance with the Approved Working Drawings and the Cost Proposal and to commence the construction relating to such itemsProposal. The date by which Tenant must approve and deliver the Cost Proposal to Landlord shall be known hereafter as the "Cost Proposal Delivery Date". In the event Tenant does not approve or disapprove the Cost Proposal by the Cost Proposal Delivery Date, Tenant shall be deemed to have approved the same. If Tenant disapproves the Cost Proposal because of a desire to value engineer the Improvements in a manner consistent with, and a logical extension of, the Final Space Plan and Landlord's Building standards, Landlord agrees to cause one (1) revision to the Cost Proposal in an effort to achieve such cost reductions; provided, however, that the time period commencing on the day immediately succeeding the Cost Proposal Delivery Date and ending on the date that Tenant approves the revised Cost Proposal or the initial Cost Proposal shall be deemed to be a period of Tenant Delay.

Cost Proposal. After the Approved Working Drawings are approved by Landlord and Tenant, Tenant shall provide Tenant Landlord with a cost proposal from the ContractorContractor in accordance with the Approved Working Drawings, which cost proposal shall include, as nearly as possible, the cost of all costs Construction Allowance Items to be incurred by Landlord and Tenant in connection with the design and construction of the Tenant Improvements (the "“Cost Proposal"). Tenant ”) Landlord shall review and either approve or disapprove and deliver the Cost Proposal to Landlord Tenant within five (5) 5 business days of the receipt of the same. Landlord’s approval of the Cost Proposal shall not be unreasonably withheld or conditioned. If Landlord disapproves any aspect of the Cost Proposal, Landlord shall specify in writing the reasons for such disapproval and upon shall specify reasonable revisions to the Cost Proposal that would be approved by Landlord. If Landlord fails to issue a written approval or disapproval of the Cost Proposal within 5 business days after Tenant’s delivery of the Cost Proposal to Landlord, then Landlord shall be deemed to have approved the Cost Proposal. Upon receipt of the same Cost Proposal approved (or deemed approved) by Landlord, Landlord Tenant shall be released by Tenant to purchase the items set forth in the Cost Proposal and to shall commence the construction relating to such items. The date by which Tenant must approve Landlord approves and deliver delivers the approved Cost Proposal to Landlord Tenant shall be known hereafter as the "“Cost Proposal Delivery Date". In the event Tenant does not approve or disapprove the Cost Proposal by the Cost Proposal Delivery Date, Tenant shall be deemed to have approved the same. If Tenant disapproves the Cost Proposal because of a desire to value engineer the Improvements in a manner consistent with, and a logical extension of, the Final Space Plan and Landlord's Building standards, Landlord agrees to cause one (1) revision to the Cost Proposal in an effort to achieve such cost reductions; provided, however, that the time period commencing on the day immediately succeeding the Cost Proposal Delivery Date and ending on the date that Tenant approves the revised Cost Proposal or the initial Cost Proposal shall be deemed to be a period of Tenant Delay.”

Cost Proposal. Tenant shall select one general contractor reasonably approved by Landlord (who shall be the “Contractor”). Following selection of the Contractor, Landlord shall cause Contractor to obtain competitive sealed bids from three subcontractors for each trade, in accordance with Schedule 1 to this Work Letter, including, if Tenant requests, a subcontractor selected by Tenant and reasonably acceptable to Landlord for each trade. The subcontractors selected shall be subject to approval by Tenant. Landlord shall cause Contractor to provide Tenant with a cost proposal from (the Contractor“Cost Proposal”) on the basis of the bids selected and a brief summary of the basis of selection for each winning bid, which cost proposal shall include, as nearly as possible, the cost of all costs Landlord’s Contribution Items to be incurred in connection with incurred, including allowances for items that cannot be specifically quoted at the design time such proposal is prepared. Landlord and construction of the Improvements (the "Cost Proposal"). Tenant shall approve and deliver or reasonably disapprove the Cost Proposal in accordance with Schedule 1. If Tenant reasonably disapproves the Cost Proposal, Landlord shall cause Contractor to Landlord resubmit a new Cost Proposal within five (5) 3 business days after receipt of notice of disapproval. Upon Tenant’s approval of the receipt of the same, and upon receipt of the same by LandlordCost Proposal, Landlord shall be released by Tenant to purchase the items set forth in the Cost Proposal and to commence the construction relating to such items. The date by which Tenant must approve approves and deliver delivers the Cost Proposal to Landlord shall be known hereafter as the "“Cost Proposal Delivery Acceptance Date"”. In the event Tenant does not approve or disapprove If the Cost Proposal by exceeds Landlord’s Contribution, Tenant may deliver to Landlord the specific written changes to the plans that are necessary, in Tenant’s opinion, to reduce costs. If Tenant desires changes, Landlord shall not unreasonably withhold its approval of such changes and the parties shall confer and negotiate in good faith to reach agreement on modifications to the plans, and the Cost Proposal Delivery Date, Tenant shall be deemed to have approved the same. If Tenant disapproves the Cost Proposal because as a consequence of a desire to value engineer the Improvements in a manner consistent with, and a logical extension of, the Final Space Plan and Landlord's Building standards, Landlord agrees to cause one (1) revision to the Cost Proposal in an effort to achieve such cost reductions; provided, however, that the time period commencing on the day immediately succeeding the Cost Proposal Delivery Date and ending on the date that Tenant approves the revised Cost Proposal or the initial Cost Proposal shall be deemed to be a period of Tenant Delaychange.

Cost Proposal. Landlord shall provide Tenant with a cost proposal from in accordance with the ContractorApproved Working Drawings, which cost proposal shall include, as nearly as possible, all costs the cost of the Total Construction Costs to be incurred in connection with the design Tenant Improvements (“Cost Proposal”). Landlord shall obtain commercially competitive and construction reasonable pricing for the Tenant Improvements in connection with the preparation of the Improvements (the "Cost Proposal"). Tenant shall approve and deliver notify Landlord whether it approves the Cost Proposal to Landlord within five (5) business days after Landlord’s submission thereof. If Tenant disapproves of the receipt Cost Proposal, then Tenant shall notify Landlord thereof specifying in reasonable detail the revisions to the Approved Working Drawings to achieve the necessary cost savings. If Tenant fails to notify Landlord that it disapproves of the same, and upon receipt of the same by Landlord, Landlord shall be released by Tenant to purchase the items set forth in the Cost Proposal and to commence within five (5) business days after the construction relating to such items. The date by which Tenant must approve and deliver the Cost Proposal to Landlord shall be known hereafter as the "Cost Proposal Delivery Date". In the event Tenant does not approve or disapprove the Cost Proposal by the Cost Proposal Delivery Datesubmission thereof, then Tenant shall be deemed to have approved the same. If Tenant disapproves Cost Proposal as submitted if the Cost Proposal because of a desire to value engineer is less than the Improvements in a manner consistent with, and a logical extension of, the Final Space Plan and Landlord's Building standards, Landlord agrees to cause one (1) revision to the total Allowance or disapproved such Cost Proposal in an effort to achieve such cost reductions; provided, however, that if it is greater than the time period commencing on Allowance. Tenant’s approval of the day immediately succeeding the Cost Proposal Delivery Date and ending on the date that Tenant approves the revised Cost Proposal or the initial Cost Proposal shall be deemed approval of the Excess Costs resulting therefrom. Landlord acknowledges that, except to be a period the extent the Total Construction Costs are increased by Tenant requested change orders occurring after Tenant’s approval of the Cost Proposal, Tenant Delayshall have no liability for any portion of the Total Construction Costs incurred by Landlord in excess amounts set forth in the Cost Proposal.

Cost Proposal. After the Conceptual Space Plan is signed by Landlord and Tenant, Landlord shall, within fifteen (15) days thereafter, provide Tenant with an initial cost proposal based on General Conditions + Fee and Preconstruction Services (the "Initial Cost Proposal"). Tenant shall approve and deliver the Initial Cost Proposal to Landlord within five (5) business days of the receipt of the same, and upon receipt of the same by Landlord, Landlord shall be released by Tenant to engage with Contractor for preconstruction services, so that Landlord can prepare a final cost pricing proposal after the Approved Working Drawings are signed by Landlord and Tenant. In connection therewith, Landlord shall provide Tenant with a cost proposal from in accordance with the ContractorApproved Working Drawings, which cost proposal shall include, as nearly as possible, the cost of all costs Improvement Allowance Items to be incurred in connection with the design and construction of the Improvements (the "Cost Proposal"). Tenant shall approve and deliver the Cost Proposal to Landlord within five (5) business days of the receipt of the same, and upon receipt of the same by Landlord, Landlord shall be released by Tenant to purchase the items set forth in the Cost Proposal and to commence the construction relating to such items. The date by which Tenant must approve and deliver the Cost Proposal to Landlord shall be known hereafter as the "Cost Proposal Delivery Date". In the event Tenant does not approve or disapprove the Cost Proposal by the Cost Proposal Delivery Date, Tenant shall be deemed to have approved the same. If Tenant disapproves the Cost Proposal because of a desire to value engineer the Improvements in a manner consistent with, and a logical extension of, the Final Space Plan and Landlord's Building standards, Landlord agrees to cause one (1) revision to the Cost Proposal in an effort to achieve such cost reductions; provided, however, that the time period commencing on the day immediately succeeding the Cost Proposal Delivery Date and ending on the date that Tenant approves the revised Cost Proposal or the initial Cost Proposal shall be deemed to be a period of Tenant Delay.