Common use of Project Bidding Clause in Contracts

Project Bidding. Within five (5) days following preparation of the Final Tenant Improvement Plans, Landlord shall submit the Final Tenant Improvement Plans for bid to at least two (2) general contractors, with one general contractor being selected by Landlord and the other selected by Tenant. Both general contractors shall be licensed in Arizona and maintain appropriate insurance coverage. Landlord shall select the successful bidder in Landlord’s commercially reasonable discretion considering the contractor’s commitment to meet the Tenant’s required construction timeline, completeness of the bid, cost differentials for comparable work and materials, and ability to perform in accordance with the complexity and scope of the Tenant Improvement Work, provided, however, all bids shall be disclosed and reviewed with Tenant prior to Landlord's selection. The total cost associated with the successful bid for the Tenant Improvement Work will be referred to as the “TI Cost.”