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 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.
Work Cost has the meaning set forth in Section 17.2A.
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 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.
Submission and approval of the Work Cost Estimate will proceed in accordance with the Work Schedule.
Company agrees to provide written reports (“Company Work Cost Reports”) to Developer on a semi-annual basis, due each July 15 and January 15.
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.
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: (a) all design and engineering fees incurred in connection with the preparation of Seller's Plans, Seller's Final Plans, Buyer Space Plans and Buyer's Final Plans; (b) costs of permits, fees and taxes for the Improvements; (c) the actual costs and charges for material and labor, construction management, contractor's profit and contractor's general overhead incurred by Seller in causing the completion of Seller's Work, including the Interior Improvements pursuant to Seller's Final Plans, Buyer's Final Plans and any change orders which have been approved by Buyer in writing, or approved as a field change by Buyer's Construction Representative identified in Subparagraph 1.3 above; (d) such other costs and expenses set forth in Schedule 6 hereof which sets forth the preliminary budget of the Work Cost; (e) the general contractor's builder's all-risk extended coverage policy of casualty insurance which shall name Seller and Buyer as additional insureds; and (f) all other costs expended in the construction of Seller's Work pursuant to the approved Seller's Final Plans, Buyer's Final Plans and any change orders which have been approved by Buyer in writing, or approved as a field change by Buyer's Construction Representative identified in Subparagraph 1.3 above. For purposes of determining whether Seller has fully disbursed the Allowance for Work Cost of Interior Improvements pursuant to Subparagraph 3.2 of this Work Letter, the Work Cost of the Interior Improvements shall be separately itemized by the general contractor and Architect and shall include items (a) to (c), and (e) and (f) of this paragraph 5. If Seller paid any sum that Buyer is responsible for paying under this Work Letter Agreement, the Purchase Price shall be increased pursuant to Article III of the Purchase Agreement.
Work Cost as used in this Exhibit shall mean the total of all estimated actual costs to Landlord for furnishing and installing such different new materials or such additional work or additional materials, plus 10% overhead plus 10% profit of such actual costs.
Work Cost means: (i) all design and engineering fees incurred by Tenant or Landlord in connection with the preparation of the preliminary space plans and Final Plans; (ii) governmental agency plan check, permit and other fees; (iii) sales and use taxes; (iv) Title 24 fees; (v) testing and inspecting costs; (vi) the actual costs and charges for material and labor, contractor's profit and general overhead incurred by Landlord in having the Leasehold Improvements constructed; (vii) all other costs to be expended by Landlord in the construction of the Leasehold Improvements, including those costs incurred by Landlord for construction of elements of the Leasehold Improvements in the Premises, which construction was performed by Landlord prior to the execution of this Lease by Landlord and Tenant (i.e., during or after the construction of the Building shell) and which construction is for the benefit of tenants and is customarily performed by Landlord prior to the execution of leases for such space in the Building for reasons of economics [examples of such construction would include wall construction, column enclosures and painting outside of the core of the Building, ceiling hanger wires and window treatment; and (viii) an administration fee for Landlord of 5% of the total Work Cost specified in (i) through (vii) above.
Work Cost means: (i) all design, architectural and engineering fees and consultant fees incurred by Tenant and Landlord in connection with the preparation, review and approval of the architectural plans and specifications related to the New Premises TIs; (ii) governmental agency plan check, permit and other fees; (iii) sales and other taxes; (iv) Title 24 fees; (v) inspection costs; and (vi) the actual costs and charges for material and labor and general contractor’s profit and general overhead incurred by Tenant in connection with the construction of the New Premises TIs.
Work Cost means the Additional Space Work Cost, (ii) the “Premises” shall mean the “Additional Space”, (iii) “Landlord’s Contribution” shall mean Landlord’s Additional Space Contribution, and (iv) “Tenant’s Initial Alteration Work” shall mean Tenant’s Initial Additional Space Work.