Tenant’s Work Landlord and Tenant agree that Gutixxxxx Xxxstruction Co., Inc. will construct the tenant improvements set forth on the Tenant's Plans (hereinafter "Tenant's Work") with respect to the Premises at cost (as hereinafter defined), plus an amount for general conditions of seven percent (7%) (not to exceed $420,000.00) and a Landlord's contractor's fee of six percent (6%) of such aggregate cost, less an amount equal to the allowance set forth on Exhibit M attached hereto and made a part hereof. In order to provide for payment by Tenant of the cost of Tenant's Work, the Net Additional Cost of Landlord's Work, and any additional costs due to Change Orders provided for hereunder, less said allowance, Tenant expressly covenants with Landlord that Tenant agrees to deposit into an interest-bearing account to be established and maintained by Landlord's mortgagee (or such other escrow agent mutually agreed upon by the parties), (i) by April 1, 2000, $3,000,000.00 (i.e. forty-three percent (43%) of the Total Estimated Cost set forth below), and (ii) by October 1, 2000, an additional $4,000,000.00 (i.e. fifty-seven percent (57%) of the Total Estimated Cost as set forth below). Tenant's deposits into escrow shall be released by Landlord's construction mortgagee, as escrow agent, to Landlord, or its contractors, as the case may be, upon Substantial Completion of Landlord's Work and Tenant's Work, as provided in Section 3.2 hereof. Tenant shall be responsible for payment of escrow fees, if any, incurred by Landlord or Tenant in connection with such escrow account. In addition, Tenant shall be responsible for interest costs and one-half percent (1/2 %) commitment fee incurred by Landlord in connection with its financing of the cost of Tenant's Work and Change Orders, as applicable. Any and all interest earned on the escrowed funds shall be payable to Tenant at such time as the escrow is released by Landlord's mortgagee, or such other mutually agreed upon escrow agent as aforesaid. It is acknowledged and agreed by Landlord and Tenant that Landlord's mortgagee shall have no right to set off such escrow account against any of Landlord's obligations with its mortgagee. In the event that this Lease is terminated by Tenant pursuant to the provisions of Section 3.2, Landlord's mortgagee shall release all amounts in the escrow account (including interest) to Tenant. The total estimated cost to complete the Tenant's Work under this Lease is seven million dollars ($7,000,000.00) or forty dollars ($46.67) per square foot (hereinafter, the "Total Estimated Cost"). To the extent that the actual cost of the Tenant's Work, Net Additional Cost of Landlord's Work and/or Change Orders, as determined by this Article, is greater than the Total Estimated Cost, Landlord shall provide Tenant with written notice of such fact together with
DAF Specifications Developer shall submit initial specifications for the DAF, including System Protection Facilities, to Connecting Transmission Owner and NYISO at least one hundred eighty (180) Calendar Days prior to the Initial Synchronization Date; and final specifications for review and comment at least ninety (90) Calendar Days prior to the Initial Synchronization Date. Connecting Transmission Owner and NYISO shall review such specifications to ensure that the DAF are compatible with the technical specifications, operational control, and safety requirements of the Connecting Transmission Owner and NYISO and comment on such specifications within thirty (30) Calendar Days of Developer’s submission. All specifications provided hereunder shall be deemed to be Confidential Information.
