Work Cost means the aggregate of (i) engineering and architectural fees for the Tenant Improvements, plus (ii) filing fees, permit costs, governmental testing, and requirements of applicable law and governmental authorities incurred for or necessitated by the Tenant Improvements, including costs of compliance with the ADA resulting from the work (including, but not limited to, tests required to comply with environmental and other laws), plus (iii) all costs of demolition of any existing improvements in the Premises, plus (iv) the actual cost of all labor, supplies, and materials furnished in connection with the Tenant Improvements, including all costs associated with extra work or change orders, plus (v) 5% of the total Work Cost, including extra work or change orders, representing Landlord's fee for overhead and supervision; and (d) “Building Standard” shall mean the type, brand, grade, or quality of materials Landlord designates from time to time to be the minimum quality to be used in the Building or, as the case may be, the exclusive type, brand, grade, or quality of material to be used in the Building.
Work Cost has the meaning set forth in Section 17.2A.
Work Cost means the actual cost (including the cost of applicable insurance premiums and the cost of additional required engineering, if any) to Landlord’s contractor of furnishing such different and costlier materials in replacement of materials specified in Exhibit “D-1” or the Approved Plan or furnishing such additional work or materials not included in Exhibit “D-1” or the Approved Plan. Landlord shall not furnish such different or costlier materials in replacement of materials specified in Exhibit “D-1” or the Approved Plan or furnish such additional work or materials not included in Exhibit “D-1” or the Approved Plan until Tenant has agreed in writing signed by the parties hereto to pay to Landlord the sum (the “Aggregate Extras”) of (i) the difference between the Work Cost and Landlord’s Cost; and (ii) the cost of all such additional work and materials not included in Exhibit “D-1” or the Approved Plan. IF WITHIN TWO (2) BUSINESS DAYS AFTER NOTICE FROM LANDLORD TO TENANT OF THE AMOUNT OF ANY AGGREGATE EXTRAS, TENANT DOES NOT EXECUTE AN AGREEMENT WITH LANDLORD AGREEING THAT TENANT SHALL PAY TO LANDLORD SUCH AMOUNT OF THE AGGREGATE EXTRAS, LANDLORD SHALL HAVE THE RIGHT TO PROCEED WITH THE CONSTRUCTION OF THE LANDLORD WORK IN ACCORDANCE WITH EXHIBIT “D-1” AND THE APPROVED PLAN. All amounts payable by Tenant to Landlord pursuant to this Work Letter shall be paid by Tenant as Additional Rent within ten (10) days after Tenant’s receipt of Landlord’s invoice, it being understood and agreed that invoices may be periodically delivered by Landlord during the course of its construction of the Landlord Work and/or the furnishing of different and costlier materials in the Premises in replacement of materials specified in Exhibit “D-1” or the Approved Plan or additional work or materials in the Premises not included in Exhibit “D-1” or the Approved Plan. Any delay associated with the approval and furnishing of such different or costlier materials or such additional work and materials and any delay in Tenant’s making any payment required under this Work Letter shall constitute Tenant Delay.
Examples of Work Cost in a sentence
The percentage of the total lump sum fee that represents the ratio of Work completed to the total amount of Work; Cost Plus Fixed Fee Contracts: Incurred cost of actual Work performed plus a percentage of the fixed fee that represents the ratio of Work completed to the total amount of Work; Specific Rate of Compensation Contract: Incurred cost of actual Work performed; Per Unit of Work Contract: The cost of each completed unit of Work and/or a percentage of each partially completed unit of Work.
The Projected Milestone Schedule and the Work Cost Estimate shall be adjusted accordingly and any additional costs shall be paid by the Customer as part of Company Reimbursable Costs when invoiced by the Company in accordance with Section 7.2 of this Agreement.
The Work Cost Estimate is an estimate only and shall not limit Customer’s obligation to pay Company for all Company Reimbursable Costs actually incurred by Company or its Affiliates.
Each Company Work Cost Report shall include the following information with respect to the preceding six-month period: (i) a summary of Company Reimbursable Costs incurred during such period, (ii) a statement of the hours of Company Work furnished during such period, (iii) a listing of average hourly labor rates, and (iv) a reasonably detailed description of the tasks performed by Company (or its Affiliates) for the Company Work during such period.
Company agrees to provide written reports (“Company Work Cost Reports”) to Developer on a semi-annual basis, due each July 15 and January 15.
More Definitions of Work Cost
Work Cost means the sum of (i) that part of the EPC Payment Milestone portion of the Contract Price that has been properly invoiced by Contractor under this Agreement for Work allocated to EPC Payment Milestones completed in accordance herewith prior to termination (as such amounts may be limited by the maximum cumulative payment amounts for which Contractor is able to invoice to Owner in a given Month for the EPC Payment Milestones, as further set forth in Schedule C-3) plus (ii) the Demobilization and Subcontract Cancellation Cost. The “Demobilization and Subcontract Cancellation Cost” shall mean the documented and reasonable costs (plus a profit of ***) incurred by Contractor to demobilize from the Site plus actual cancellation charges incurred by Contractor on any Subcontract terminated as a result of the terminated Work, all of which Contractor shall use commercially reasonable efforts to minimize; provided, however, notwithstanding the foregoing, the Demobilization and Subcontract Cancellation Cost shall not exceed the Maximum Demobilization and Subcontract Cancellation Cost set forth in Schedule C-3 as determined by the Month in which the Agreement is terminated. For purposes of clarity, in the event of a termination for convenience under Section 17.2 and with respect to the invoices provided by Contractor pursuant to clause (i) above for EPC Payment Milestones completed prior to termination, such invoices may include an invoice submitted by Contractor promptly after termination which accounts for EPC Payment Milestones completed between the last regularly submitted invoice and the date of termination.
Work Cost means (i) all design and engineering fees incurred by Tenant in connection with preparation of the preliminary space plans and Final Plans, plus (ii) the actual costs and charges for material and labor, contractor's profit and general overhead incurred by Landlord in having Tenant Building work done, plus (iii) all the actual out-of-pocket expenditures incurred by Landlord in obtaining and processing all required governmental permits.
Work Cost means the aggregate of (i) engineering and architectural fees for the changes, plus (ii) filing fees, permit costs, governmental testing, and requirements of applicable law and governmental authorities incurred for or necessitated by the changes, including costs of compliance with the ADA resulting from the changes, plus (iii) the actual cost of the changes charged by the general contractor, plus (v) 5% of the total actual costs of the applicable Tenant Improvements representing Landlord’s fee for overhead and supervision.
Work Cost as used herein with respect to any part of the Work shall mean the actual cost (including the cost of applicable insurance premiums and the cost of additional engineering, if any, required by reason of the next succeeding paragraph) to Landlord of furnishing and installing such part of the Work (including the cost of applicable insurance premiums and the cost of any such additional engineering) plus fifteen (15%) percent of such actual cost with respect to Special Work. Before proceeding with any Special Work, Landlord will submit to Tenant a reasonably detailed estimate of the Work Cost and time extension required, if any, and a statement of the terms and conditions on which such Special Work is to be performed and, unless and until Tenant shall approve such estimate and such terms and conditions in writing, Landlord shall not proceed with the performance of such Special Work. Notwithstanding any such estimate, Tenant shall nevertheless pay the actual Work Cost of all Special Work. If Tenant shall fail to approve in writing Landlord’s submission within five (5) business days following receipt thereof, the same shall be deemed disapproved in all respects by Tenant and Landlord shall not be authorized to make the change. If Tenant approves in writing the cost or savings and the schedule change, if any, Landlord shall cause the change to be made. Tenant shall pay to Landlord within thirty (30) days after demand any additional charges due to Landlord for changes approved by Tenant.
Work Cost as used in this Article shall mean the actual cost (including the cost of applicable insurance premiums and the cost of architectural services and engineering) to Landlord of furnishing and installing such part of Landlord's Work, subject to the Cap, as defined below.
Work Cost as used in this Article shall mean the actual cost (including the cost of applicable insurance premiums and the cost of engineering if any) to Landlord of Tenant's Work.
Work Cost as used in this Article shall mean the actual cost (including the cost of applicable insurance premiums and the cost of engineering if any) to Landlord of furnishing and installing Tenant's Initial Work. Landlord shall require its general contractor to obtain not less than three (3) bids from each major trade and Tenant's architect may designate the acceptable bid.