Tenant Improvement Budget definition

Tenant Improvement Budget. Upon Tenant’s written approval of the Tenant Improvement Budget, which approval shall not be unreasonably withheld or delayed, Landlord and Tenant shall be deemed to have given their respective approvals of the final Tenant Improvement Plans and Specifications on which the cost estimate was made, and Landlord shall cause the General Contractor to proceed with the construction of the Tenant Improvements. If Tenant does not specifically approve or disapprove the Tenant Improvement Budget within seven (7) business days of submission, Tenant shall be deemed to have approved the bids. Should Tenant disapprove the Tenant Improvement Budget within seven (7) business days from receipt of same, the Tenant’s Architect shall have five (5) business days following disapproval to make modifications to the design and resubmit revised Tenant Improvement Plans to the General Contractor for pricing. The General Contractor shall thereafter have five (5) business days to price the changes with the low bidder from each trade and resubmit revised pricing to Tenant for approval which must be given within two (2) business days of submission or a Tenant Delay shall be deemed to have occurred pursuant to Section 5(F)(1) below.
Sample 1
Tenant Improvement Budget means, the design and construction costs of the Tenant Improvements to be constructed and completed by September 1, 2012 through a guaranteed maximum price budget not to exceed $7,426,613, as approved in writing by Tenant. The Tenant Improvements’ Budget must be composed through a competitive bid process of the Contractors.
Sample 1Sample 2

Examples of Tenant Improvement Budget in a sentence

  • Upon Tenant's written approval of the Tenant Improvement Budget, which approval shall not be unreasonably withheld or delayed, Landlord and Tenant shall be deemed to have given their respective approvals of the final Tenant Improvement Plans and Specifications on which the cost estimate was made, and Landlord shall cause the General Contractor to proceed with the construction of the Tenant Improvements in accordance with the terms of Section 5.G below.

  • Landlord shall cause the General Contractor to utilize the low bid in each case unless Tenant approves or directs General Contractor's use of another subcontractor, and the cost of the Tenant Improvements shall be based upon construction expenses equal to (i) the bid amounts as approved by Tenant, and (ii) the general contractor fee specified in Section 5.H below ("Tenant Improvement Budget").

  • Tenant must specifically approve or disapprove the bids within seven (7) days of receipt of the Tenant Improvement Budget.

  • Upon Tenant's written approval of the Tenant Improvement Budget, which approval shall not be unreasonably withheld or delayed, Landlord and Tenant shall be deemed to have given their respective approvals of the final Tenant Improvement Plans and Specifications on which the cost estimate was made, and General Contractor shall proceed with the construction of the Tenant Improvements in accordance with the terms of Section 5.G below.

  • General Contractor must utilize the low bid in each case unless Tenant approves General Contractor's use of another subcontractor, and the cost of the Tenant Improvements shall be based upon construction expenses equal to (i) the bid amounts as approved by Tenant and (ii) the General Contractor fee specified in Section 5.H below ("Tenant Improvement Budget").

  • The Tenant Improvement Budget may include a contingency of five percent (5%) to be expended by Landlord to cover unforseen costs, provided that in each instance Tenant reasonably approves such expenditure.

  • Within five (5) days following payment by Tenant, Landlord shall pay Tenant an amount equal to the product of (i) the Progress Invoice, and (ii) a fraction, the numerator of which is the amount of the Work Allowance and the denominator of which is the Tenant Improvement Budget, until such time as Landlord has expended the full amount of the Work Allowance.

  • Upon Tenant's written approval of the budget for the Tenant Improvements furnished by the General Contractor ("Tenant Improvement Budget"), Tenant shall furnish a copy of the Tenant Improvement Budget to Landlord.

  • Landlord shall deliver and Tenant shall have and hold the Premises for a term (“Term”) commencing on the date fifty (50) days following approval by Tenant of the Tenant Improvement Budget as defined in the Work Letter (the “Commencement Date”) and shall terminate at midnight on the last day (the “Expiration Date”) of the sixty-fifth (65th) full calendar month following the Commencement Date, unless sooner terminated or extended as hereinafter provided.

  • Generally, in their memorandum of law in chief, Defendants argue that summary judgment should be entered in their favor for the following four alternative reasons.

Related to Tenant Improvement Budget

  • Tenant Improvements Defined in Exhibit B, if any.

  • Tenant Improvement Work means the construction of the Tenant Improvements, together with any related work (including demolition) that is necessary to construct the Tenant Improvements.

  • Tenant Improvement Allowance in the maximum amount of $200.00 per rentable square foot in the Premises, which is included in the Base Rent set forth in the Lease; and

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Tenant’s Work means all improvements, alterations, fixture, equipment, and signage installation, and furniture placement necessary or appropriate for the conduct of the Permitted Use, including all work described as Tenant’s Work on Exhibit D, attached (the “Work Letter”).

  • Landlord’s Work means the work of constructing the Tenant Improvements.

  • Project area budget means a multiyear projection of annual or cumulative

  • Project Improvements means site improvements and facilities that are:

  • Tenant Work All work installed or furnished to the Premises by Tenant in connection with Tenant’s initial occupancy pursuant to Rider 2 and the Workletter.

  • Construction Work means any work in connection with

  • Capital Improvement Project means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, appurtenances to roads and bridges to enhance the safety of animal-drawn vehicles, pedestrians, and bicycles, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities including real property, interests in real property, facilities, and equipment related or incidental to those facilities.

  • Project Budget means the budget and project description included in the grant application. The Project Budget must succinctly describe all major elements of project work, the estimated cost of each, and clearly allocate requested grant funding and match contributions to each.

  • Approved Project Budget means the most recent statement, approved by the FTA, of the costs of the Project, the maximum amount of Federal assistance for which the TJPA is currently eligible, the specific tasks (including specified contingencies) covered, and the estimated cost of each task.

  • Landlord Work means the work, if any, that Landlord is obligated to perform in the Premises pursuant to a separate agreement (the “Work Letter”), if any, attached to this Lease as Exhibit C.

  • Building Work has the meaning given to it in section 6 of the Building and Construction Industry (Improving Productivity) Act 2016 (Cth);

  • Improvement Costs means any additional expenditure on a fixed asset that materially increases the capacity of the asset or materially improves its functioning or represents more than 10% of the initial depreciation base of the asset;

  • Base Building Work means the base building work for the Building as described in this Manual.

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • demolition work means a method to dismantle, wreck, break, pull down or knock down of a structure or part thereof by way of manual labour, machinery, or the use of explosives;

  • BASE budget means the minimum general fund budget of a district, which includes 80% of the basic

  • Work Letter means the work letter between Landlord and Tenant regarding the construction of the Tenant Improvements, if any, in the form of Exhibit C.

  • Development Budget means the cost categories listed on Pages 8 - 11 in Form 3 that are directly related to the proposed Project as submitted in the Application. Indirect or off-site costs not directly related to the development of the project are not valid or eligible costs.

  • Plans and Specifications means the plans, drawings and specifications reasonably necessary to properly assess and review proposed Work prior to issuance of any approval that may be required under this Agreement;

  • Improvement Plan means the plan required by the Authority from the Supplier which shall detail how the Supplier will improve the provision of the Goods and/or Services pursuant to Clause 29.1.1 (Authority Remedies);

  • Project Work means the work required to complete the Project.

  • Construction Drawings means those drawings containing the technical details associated with the design, construction and installation of the Infrastructure;