Common use of Schematic Plans Clause in Contracts

Schematic Plans. On or before the date which is six (6) months after the Effective Date, Constructing Party shall deliver the Schematic Plans to Landlord for Landlord's review and approval or disapproval in accordance with this Section 10.2(b)(i). Within fifteen (15) Business Days after the date the Schematic Plans are delivered to Landlord, Landlord shall deliver written notice to Constructing Party of: (x) Landlord’s approval of the Schematic Plans (which approval shall not be unreasonably withheld); or (y) Landlord’s disapproval of the Schematic Plans, together with a reasonably detailed statement of the reasonable basis for Landlord’s disapproval of the Schematic Plans. If Landlord fails to deliver written notice to Constructing Party pursuant to clause (x) or clause (y) of the immediately preceding sentence within such fifteen (15) Business Day period, then Landlord shall be automatically deemed to have delivered an approval notice under clause (x) of the immediately preceding sentence. If Landlord delivers timely written notice of Landlord’s disapproval of the Schematic Plans in accordance with clause (y) above, then (I) Constructing Party shall cause the Schematic Plans to be revised to address the reasonable basis for Landlord’s disapproval of the Schematic Plans and deliver the revised Schematic Plans to Landlord and (II) the process described above shall proceed on an iterative basis until Landlord approves the revised Schematic Plans, except that the fifteen (15) Business Day period described above will be shortened to ten (10) Business Days. Constructing Party may revise the Schematic Plans after Landlord has delivered written notice of Landlord’s approval of the Schematic Plans in accordance with clause (x) of this Section 10.2(b)(i). If, after Landlord has delivered written notice of Landlord’s approval of the Schematic Plans in accordance with clause (x) of this Section 10.2(b)(i), the approved Schematic Plans are revised in a material manner, then (A) Constructing Party shall deliver the revised Schematic Plans to Landlord, together with a reasonably detailed statement of the revisions made to the Schematic Plans, and (B) Landlord shall, within fifteen (15) Business Days after the date Constructing Party delivers the revised Schematic Plans to Landlord, deliver written notice to Constructing Party of (1) Landlord’s approval of the revised Schematic Plans (which approval shall not be unreasonably withheld) or (2) Landlord’s disapproval of the revised Schematic Plans, together with a reasonably detailed statement of the reasonable basis for Landlord’s disapproval of the revised Schematic Plans. If Landlord fails to deliver written notice pursuant to clause (1) or clause (2) of the immediately preceding sentence within such fifteen (15) Business Day period, then Landlord shall be automatically deemed to have delivered an approval notice under clause (1) of the immediately preceding sentence. If Landlord delivers timely written notice of Landlord’s disapproval of the revised Schematic Plans in accordance with clause (2) above, then the parties shall proceed as though Landlord delivered written notice of Landlord’s disapproval of the Schematic Plans in accordance with clause (y) above.

Schematic Plans. On (a) Tenant shall prepare and submit to Landlord for approval schematics covering the Base Building Work and the Tenant Improvements (which Base Building Work and Tenant Improvements are described on the Scope Allocation Matrix) prepared in conformity with the applicable provisions of this Tenant Work Letter and, with respect to the Base Building Work, in substantial conformance with the Basis of Design (the “Tenant Draft Schematic Plans”). The Tenant Draft Schematic Plans shall contain sufficient information and detail to accurately describe Tenant’s proposed design to Landlord and such other information as Landlord may reasonably request. Landlord shall notify Tenant in writing within ten (10) business days after receipt of the Tenant Draft Schematic Plans whether Landlord approves or before objects to the date Tenant Draft Schematic Plans and of the manner, if any, in which is six (6) months after the Effective DateTenant Draft Schematic Plans are unacceptable. If Landlord objects to the Tenant Draft Schematic Plans, Constructing Party then Tenant shall deliver revise the Tenant Draft Schematic Plans and cause Landlord’s objections to be remedied in the revised Tenant Draft Schematic Plans. Tenant shall then resubmit the revised Tenant Draft Schematic Plans to Landlord for approval, except the turn-around approval period afforded to Landlord with respect to any revisions shall be five (5) business days (provided, however, that if Landlord reasonably determines that the revisions are substantial and reasonably require more time, then Landlord may by notice to Tenant take an additional five (5) business days to respond). Landlord's review ’s failure to respond within the specified time frames shall be deemed approval by Landlord. If Landlord and approval or disapproval Tenant cannot agree on the revised Tenant Draft Schematic Plans and Tenant’s correction of same after Landlord resubmits to Tenant further revisions to the revised Tenant Draft Schematic Plans, then the Neutral Architect, in accordance with this Section 10.2(b)(i). Within fifteen NY\5747656.2 Subsection 4.2(b)(iii) of the Lease (15whose determination shall be final and binding upon the parties) Business Days after the date the shall decide to accept in their entirety either Tenant’s revised Tenant Draft Schematic Plans are delivered to Landlord, Landlord shall deliver written notice to Constructing Party of: (x) or Landlord’s approval of the Schematic Plans (which approval shall not be unreasonably withheld); or (y) Landlordfurther revisions to Tenant’s disapproval of the Schematic Plans, together with a reasonably detailed statement of the reasonable basis for Landlord’s disapproval of the revised Tenant Draft Schematic Plans. If Landlord fails to deliver written notice to Constructing Party pursuant to clause (x) or clause (y) The iteration of the immediately preceding sentence within such fifteen Tenant Draft Schematic Plans that is approved (15or deemed approved) Business Day periodby Landlord without objection (or by the Neutral Architect, then Landlord if necessary) shall be automatically deemed referred to have delivered an approval notice under clause (x) of herein as the immediately preceding sentence. If Landlord delivers timely written notice of Landlord’s disapproval of the Schematic Plans in accordance with clause (y) above, then (I) Constructing Party shall cause the Schematic Plans to be revised to address the reasonable basis for Landlord’s disapproval of the Schematic Plans and deliver the revised Schematic Plans to Landlord and (II) the process described above shall proceed on an iterative basis until Landlord approves the revised “Approved Tenant Schematic Plans, except that the fifteen (15) Business Day period described above will be shortened to ten (10) Business Days. Constructing Party may revise the Schematic Plans after Landlord has delivered written notice of Landlord’s approval of the Schematic Plans in accordance with clause (x) of this Section 10.2(b)(i). If, after Landlord has delivered written notice of Landlord’s approval of the Schematic Plans in accordance with clause (x) of this Section 10.2(b)(i), the approved Schematic Plans are revised in a material manner, then (A) Constructing Party shall deliver the revised Schematic Plans to Landlord, together with a reasonably detailed statement of the revisions made to the Schematic Plans, and (B) Landlord shall, within fifteen (15) Business Days after the date Constructing Party delivers the revised Schematic Plans to Landlord, deliver written notice to Constructing Party of (1) Landlord’s approval of the revised Schematic Plans (which approval shall not be unreasonably withheld) or (2) Landlord’s disapproval of the revised Schematic Plans, together with a reasonably detailed statement of the reasonable basis for Landlord’s disapproval of the revised Schematic Plans. If Landlord fails to deliver written notice pursuant to clause (1) or clause (2) of the immediately preceding sentence within such fifteen (15) Business Day period, then Landlord shall be automatically deemed to have delivered an approval notice under clause (1) of the immediately preceding sentence. If Landlord delivers timely written notice of Landlord’s disapproval of the revised Schematic Plans in accordance with clause (2) above, then the parties shall proceed as though Landlord delivered written notice of Landlord’s disapproval of the Schematic Plans in accordance with clause (y) above.”

Schematic Plans. On Landlord shall prepare and submit to Tenant for approval schematics covering the Landlord Work (which Landlord Work is described on the Scope Allocation Matrix) prepared in conformity with the applicable provisions of this Landlord Work Letter and in substantial conformance with the Basis of Design (the “Landlord Draft Schematic Plans”). The Landlord Draft Schematic Plans shall contain sufficient information and detail to accurately describe the proposed design to Tenant and such other information as Tenant may reasonably request and include a progress budget report showing any updates to the Landlord Work Budget based on such Landlord Draft Schematic Plans. Tenant shall notify Landlord in writing within ten (10) business days after receipt of the Landlord Draft Schematic Plans (which shall include all information required by the immediately preceding sentence) whether Tenant approves or before objects to the date Landlord Draft Schematic Plans and of the manner, if any, in which is six the Landlord Draft Schematic Plans are unacceptable. Tenant’s failure to respond within such ten (610) months after business day period shall be deemed approval by Tenant. If Tenant reasonably objects to the Effective DateLandlord Draft Schematic Plans, Constructing Party then Landlord shall deliver revise the Landlord Draft Schematic Plans and cause Tenant’s objections to be remedied in the revised Landlord Draft Schematic Plans. Landlord shall then resubmit the revised Landlord Draft Schematic Plans to Tenant for approval (including all information required herein to be provided with such plans), though the approval period afforded to Tenant with respect to any revisions shall be five (5) business days (provided, however, that if Tenant reasonably determines that the revisions are substantial and reasonably require more time, then Tenant may by notice to Landlord for take an additional five (5) business days to respond). Tenant’s approval of or objection to the revised Landlord Draft Schematic Plans and Landlord's review and approval or disapproval ’s correction of the same shall be in accordance with this Section 10.2(b)(i). Within fifteen (15) Business Days after until Tenant has approved the date the Landlord Draft Schematic Plans are delivered in writing or been deemed to Landlord, have approved them. If Landlord shall deliver written notice to Constructing Party of: (x) and Tenant cannot agree on the revised Landlord Draft Schematic Plans and Landlord’s approval correction of same after Tenant resubmits to Landlord further revisions to the Schematic Plans (which approval shall not be unreasonably withheld); or (y) Landlord’s disapproval of the revised Landlord Draft Schematic Plans, together then the Neutral Architect, in accordance with a reasonably detailed statement Subsection 4.2(b)(iii) of the reasonable basis for Lease (whose determination shall be final and binding upon the parties) shall decide to accept in their entirety either Landlord’s disapproval of the revised Landlord Draft Schematic Plans or Tenant’s further revisions to Landlord’s revised Landlord Draft Schematic Plans. If Landlord fails to deliver written notice to Constructing Party pursuant to clause (x) or clause (y) The iteration of the immediately preceding sentence within such fifteen Landlord Draft Schematic Plans that is approved or deemed approved by Tenant without objection (15or by the Neutral Architect, if necessary) Business Day period, then Landlord shall be automatically deemed referred to have delivered an approval notice under clause (x) of herein as the immediately preceding sentence. If “Approved Landlord delivers timely written notice of Landlord’s disapproval of the Schematic Plans in accordance with clause (y) above, then (I) Constructing Party shall cause the Schematic Plans to be revised to address the reasonable basis for Landlord’s disapproval of the Schematic Plans and deliver the revised Schematic Plans to Landlord and (II) the process described above shall proceed on an iterative basis until Landlord approves the revised Work Schematic Plans, except that the fifteen (15) Business Day period described above will be shortened to ten (10) Business Days. Constructing Party may revise the Schematic Plans after Landlord has delivered written notice of Landlord’s approval of the Schematic Plans in accordance with clause (x) of this Section 10.2(b)(i). If, after Landlord has delivered written notice of Landlord’s approval of the Schematic Plans in accordance with clause (x) of this Section 10.2(b)(i), the approved Schematic Plans are revised in a material manner, then (A) Constructing Party shall deliver the revised Schematic Plans to Landlord, together with a reasonably detailed statement of the revisions made to the Schematic Plans, and (B) Landlord shall, within fifteen (15) Business Days after the date Constructing Party delivers the revised Schematic Plans to Landlord, deliver written notice to Constructing Party of (1) Landlord’s approval of the revised Schematic Plans (which approval shall not be unreasonably withheld) or (2) Landlord’s disapproval of the revised Schematic Plans, together with a reasonably detailed statement of the reasonable basis for Landlord’s disapproval of the revised Schematic Plans. If Landlord fails to deliver written notice pursuant to clause (1) or clause (2) of the immediately preceding sentence within such fifteen (15) Business Day period, then Landlord shall be automatically deemed to have delivered an approval notice under clause (1) of the immediately preceding sentence. If Landlord delivers timely written notice of Landlord’s disapproval of the revised Schematic Plans in accordance with clause (2) above, then the parties shall proceed as though Landlord delivered written notice of Landlord’s disapproval of the Schematic Plans in accordance with clause (y) above.”