Costs Estimate definition
Examples of Costs Estimate in a sentence
If the fiscal year has begun without resolution of the Costs Estimate, then Groundco shall pay the Base Compensation based on amounts paid in the prior quarter.
If Groundco does not so object within such 30 day period, the Costs Estimate will be final and binding as the Cost Recovery Amount for the following year.
The Costs Estimate, after giving effect to any agreed adjustments and to the resolution of disputed matters by the Industry Expert, shall be final and binding as the Cost Recovery Amount for each week and quarter of the following year.
Within 30 days of the receipt of the Costs Estimate, Groundco may deliver to Airco a written notice setting forth any objections to the Costs Estimate.
Upon Tenant’s final written approval of said estimate, such approved estimate to be referred to herein as the “Work Costs Estimate”, Landlord shall have the right to purchase materials as set forth on the Final Plans and to commence the construction of the items included in said Work Costs Estimate pursuant to Section 4 hereof.
If Airco and Groundco resolve all such differences, the Costs Estimate, as adjusted by the agreed adjustments, shall be final and binding (subject to Section 10.4 and subject to any changes in costs resulting from modifications of the ACMI Services permitted by Article VI) as the Cost Recovery Amount for the following year.
Preparation and approval of Tenant’s Preliminary Space Plans, Final Plans and the Work Costs Estimate shall proceed as indicated below and each action shall be completed on or before the date herein specified.
At any time, Airco shall permit Groundco and its counsel, financial advisors, auditors, consultants, employees and other authorized representatives (collectively, the "Representatives") to have reasonable access, during normal business hours, upon reasonable notice and in such manner as will not unreasonably interfere in the conduct of Airco's business, to Airco's properties, books, records and personnel for the purpose of auditing the Costs Estimate.
Landlord's failure to give the Building Operating Costs Estimate or Actual Cost Statement within said one hundred twenty (120) day period shall not release in any manner Tenant's obligations under this Lease, and Landlord may render said Estimate or Statement at any time thereafter.
GenMark must notify Leica as soon as practicable whether it approves the Additional Costs Estimate.