Common use of Final Costs Clause in Contracts

Final Costs. Prior to the commencement of the construction of the Tenant Work, and after Tenant has accepted all bids for the Tenant Work, Tenant shall provide Landlord with a detailed breakdown, by trade, of the final costs to be incurred or which have been incurred, as set forth more particularly in Sections 6(a)(1) - (6), above, in connection with the design and construction of the Tenant Work to be performed by or at the direction of Tenant or the Contractor, which costs form a basis for the amount of the Contract (the "FINAL COSTS"). Thereafter, in connection with each payment requested by Tenant pursuant to Section 7(a) above, Tenant shall pay a fraction (the "Tenants Share") of such payment, which fraction shall have the Final Costs less the Tenant Improvement Allowance and the Construction Review Fee as the numerator and the Final Costs as the denominator. By way of example, if Tenant Improvement Allowance were $1,000 and the Final Costs were $1,200, Tenant's share would be 1/6. In the event that, after the Final Costs have been delivered by Tenant, to Landlord, the costs relating to the design and construction of the Tenant Work shall change, any additional costs necessary to such design and construction in excess of the Final Costs, shall be paid by Tenant to Landlord immediately or at Landlord's option, Tenant shall make payments for such additional costs out of its own funds, but Tenant shall continue to provide Landlord with the documents described in Section 7(a) of this Work Letter, above, for Landlord's approval, prior to Tenant paying such costs.