OBS Costs definition

OBS Costs means, as to the initial 30,183 square foot Premises being built-out pursuant to Article IV hereof, all costs associated with completing Landlord's Work resulting from the inclusion of matters not shown on Exhibit B into Proposed Plans or Tenant's Plans and those costs to Landlord resulting from changes in Tenant's Plans once approved by Landlord and Tenant and as to the Expansion Space all costs of performing Landlord's Expansion Work, Landlord's First Expansion Work and Landlord's Second Expansion Work, as applicable, in excess of, respectively, the Expansion Allowance, the First Expansion Allowance and the Second Expansion Allowance in excess of Sections 14.29(b), (c) and (d) of this Lease.
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Examples of OBS Costs in a sentence

  • Tenant shall reimburse Landlord, for OBS Costs (as said term is hereafter defined) in the manner hereafter set forth.

  • Landlord hereby agrees to perform Landlord's Work and Landlord's Base Building Work (i) in compliance with all applicable laws, rules, ordinances and codes in effect as of the Commencement Date (ii) in a good and workmanlike manner and (iii) at Landlord's sole cost and expense (subject to Tenant's obligation to pay OBS Costs as hereinabove set forth).

  • The OBS Costs described in such revised and accepted First Expansion Cost Statement shall, for all purposes hereunder, be deemed to be "First Expansion OBS Costs".

  • Upon completion of such revised Proposed Plans, Landlord shall submit same, together with a statement from Landlord of the OBS Costs, if any, and the amount of Tenant Delays, if any, in completing Landlord's Work as a result of such requested changes, to Tenant for Tenant's prompt review and approval.

  • Similarly, all First Expansion OBS Costs shall be paid in the same manner, 50% prior to Landlord commencing work and 50% on the First Expansion Commencement Date.

  • To the extent that the requirements of Landlord's Expansion Work, including, without limitation, the cost of all permits, architectural and engineering fees, and construction supervision fees, shall exceed a cost of $47,000.00, Tenant shall pay the cost of such excess requirements (the "OBS Costs") to Landlord as an additional charge hereunder.

  • Tenant shall pay 1/2 of the OBS Costs prior to Landlord commencing Landlord's Expansion Work and the other 1/2 of OBS Costs shall be paid upon completion of Landlord's Expansion Work.

  • Tenant's failure to respond to any such changes within the Ten (10) day period specified above shall be deemed an approval of such revised Proposed Plans, acceptance of the applicable OBS Costs and the amount of Tenant Delays, if any, and authorization to Landlord to proceed with the work as shown on such revised Proposed Plans.

  • Similarly, all Second Expansion OBS Costs shall be paid in the same manner, 50% prior to Landlord commencing work and 50% on the Second Expansion Commencement Date.

  • The OBS Costs described in such revised and accepted Second Expansion Cost Statement shall, for all purposes hereunder, be deemed to be "Second Expansion OBS Costs".