Payment or Credit for Construction Sample Clauses

Payment or Credit for Construction. (1) Promptly after final receipt by Landlord of approved Final Tenant Plans, Landlord shall obtain and present to Tenant a final schedule, in reasonable detail, of the Tenant Improvement Cost and the various major components thereof (the "Cost Schedule"), including therein such specific contingencies and allowances as may be appropriate and as are consistent with the foregoing provisions of this Article 2. The Cost Schedule as it pertains to construction costs shall be based upon a guaranteed maximum price and competitively-bid subcontracts with a 3 1/2% fee to Landlord's Contractor. Tenant shall thereupon have five (5) business days within which to accept the Cost Schedule or to perform value engineering and submit to Landlord revised Final Tenant Plans; provided that said 5 business day period shall be extended by the number of business days, beyond 1 business day, in obtaining a response from Landlord's Contractor to Tenant's alternative pricing requests. Tenant's failure to accept the Cost Schedule or submit revised Final Tenant Plans to Landlord, within said five (5) business day period (extended as aforesaid), shall result in a Tenant Delay from that time until the actual time submitted. (2) If the Tenant Improvement Cost as reflected in the Cost Schedule is in excess of the Fit-Out Allowance, Tenant shall pay such excess to Landlord in progress payments within twenty (20) days after receiving a ▇▇▇▇ therefor (accompanied by Landlord's itemization of the amount due), but only after the Fit-Out Allowance has been fully used. Any such excess costs shall also include a net increase in the Tenant Improvement Cost resulting from a change order requested by Tenant or by reason of a change in the Final Tenant Plans requested by Tenant. If the Tenant Improvement Cost is less than the Fit-Out Allowance, the savings shall be applied as a credit against the next installments of minimum rent due under this Lease, or, at Tenant's option, any unused allowance may be applied by Tenant for reimbursement (upon presentation of Tenant's statement showing the particular amounts and categories of expenses in question) of other costs associated with its move to the Premises, including furniture, moving expenses, telephone systems, and the like.