Common use of Budget For Tenant Improvements Clause in Contracts

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant shall obtain a detailed breakdown, by trade, of the costs incurred or that will be incurred, in connection with the design and construction of The Tenant Improvements (the “Budget”), and deliver a copy of the Budget to Landlord for Landlord’s approval, which shall not be unreasonably withheld or delayed. The Budget shall be based upon the TI Construction Drawings approved by Landlord and shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to 1% of the TI Costs (as hereinafter defined) for monitoring and inspecting the construction of the Tenant Improvements, which sum shall be payable from the TI Fund. Such Administrative Rent shall cover, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with, such monitoring of the construction of the Tenant Improvements, and shall be payable out of the TI Fund.

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant Landlord shall obtain a detailed breakdown, by trade, of the costs incurred or that which will be incurred, incurred in connection with the design and construction of The Tenant Improvements (the “Budget”"BUDGET"), and deliver a copy of the Budget to Landlord for Landlord’s approval, which shall not be unreasonably withheld or delayed. The Budget shall be based upon the Preliminary TI Construction Drawings Plans as modified by the VE Items, approved by Landlord Tenant and shall include a payment to Landlord of administrative rent equal (“Administrative Rent”"ADMINISTRATIVE RENT") equal to 13% of the TI Costs Allowance (as hereinafter defined) for monitoring and inspecting the construction of the Tenant ImprovementsTenant's Work, which sum shall be payable from the TI Fund. Such Administrative Rent shall coverinclude, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with, such monitoring of the construction of the Tenant Improvements, and shall be payable out of the TI Fund. If the Budget is greater than the TI Allowance, Tenant shall deposit with Landlord the difference, in cash, prior to the commencement of construction of the Tenant Improvements, for disbursement by Landlord as described in Section 5(d).

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant Landlord shall obtain a detailed breakdown, by trade, of the costs incurred or that which will be incurred, in connection with the design and construction of The Tenant Improvements Landlord's Work (the “Budget”"BUDGET"), and deliver a copy of the Budget to Landlord for Landlord’s approval, which shall not be unreasonably withheld or delayed. The Budget shall be based upon the TI Construction Drawings approved by Landlord Tenant and shall include a payment to Landlord Landlord, of administrative rent (“Administrative Rent”"ADMINISTRATIVE RENT") equal to 15% of the TI Costs (as hereinafter defined) for monitoring and inspecting the construction of the Tenant ImprovementsLandlord's Work, which sum shall be payable from the TI Fund. Such Administrative Rent shall coverinclude, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with, such monitoring of the construction of the Tenant Tenant's Improvements, and shall be payable out of the TI Fund. If the Budget is greater than the TI Allowance, Tenant shall deposit with Landlord the difference, in cash, prior to the commencement of construction of the Tenant Improvements, for disbursement by Landlord as described in Section 5.4.

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant shall obtain a detailed breakdown, by trade, of the costs incurred or that will be incurred, in connection with the design and construction of The Tenant Improvements (the “Budget”), and deliver a copy of the Budget to Landlord for Landlord’s approval, which shall not be unreasonably withheld or delayed. The Budget shall be based upon the TI Construction Drawings approved by Landlord and shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to 1% two percent (2%) of the TI Costs Allowance (as hereinafter defined) for monitoring and inspecting the construction of the Tenant Improvements, which sum shall be payable from the TI Fund. Such Administrative Rent shall coverinclude, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with, such monitoring of the construction of the Tenant Improvements, and shall be payable out of the TI Fund. If the Budget is greater than the TI Allowance, Tenant shall pay, in cash, prior to the disbursement of the TI Allowance, the Excess TI Costs.

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant the parties shall obtain agree on a detailed breakdown, by trade, Budget pursuant to Section 2(c) of the costs incurred or that will be incurred, in connection with the design and construction of The Tenant Improvements (the “Budget”), and deliver a copy of the Budget to Landlord for Landlord’s approval, which shall not be unreasonably withheld or delayedthis Work Letter. The Budget shall be based upon the TI Construction Drawings approved by Landlord Tenant and shall include include, in addition to all third-party costs for the design and construction of the Tenant Improvements, a payment to Landlord of administrative rent (“"Administrative Rent”") equal to 13% of the TI Costs (as hereinafter defined) hard cost for the construction of the Tenant Improvements and Changes for monitoring and inspecting the construction of the Tenant ImprovementsImprovements and Changes, which sum shall be payable from the TI FundFund (as defined in Section 5(d)). Such In Building 39 (AOTC) / Forma Therapeutics – Ex. C addition, Administrative Rent also shall coverinclude, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with, such with monitoring of the construction of the Tenant ImprovementsImprovements and Changes, and shall be payable out of the TI Fund. If the Budget is greater than the TI Allowance, Tenant shall deposit with Landlord the difference, in cash, prior to the commencement of construction of the Tenant Improvements or Changes, for disbursement by Landlord as described in Section 5(d).

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant shall obtain a detailed breakdown, by trade, of the costs incurred or that will be incurred, in connection with the design and construction of The the Tenant Improvements (the “Budget”), and deliver a copy of the Budget to Landlord for Landlord’s approval, which shall not be unreasonably withheld or delayed. The Budget shall be based upon the TI Construction Drawings approved by Landlord and shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to 1[***]% of the TI Costs (as hereinafter defined) for monitoring and inspecting the construction of the Tenant Improvements, which sum shall be payable from the TI Fund. Such Administrative Rent shall coverinclude, without limitation, all third party, out-of-pocket costs, expenses expenses, and fees incurred by or on behalf of Landlord arising from, out of, or in connection with, such monitoring of the construction of the Tenant Improvements, and shall be payable out of the TI Fund. If the Budget is greater than the TI Allowance, Tenant shall deposit with Landlord the difference, in cash, prior to the commencement of construction of the Tenant Improvements, for disbursement by Landlord as described in Section 5(d).

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant shall obtain a detailed breakdown, breakdown by trade, trade of the costs incurred or that will be incurred, incurred in connection with the design and construction of The the Tenant Improvements (the “Budget”), and deliver a copy of the Budget to Landlord for Landlord’s approval, which shall not be unreasonably withheld or delayed. The Budget shall be based upon the TI Construction Drawings approved by Landlord and shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to 12% of the TI Costs (as hereinafter defineddefined below) for monitoring and inspecting the construction of the Tenant ImprovementsImprovements and Changes, which sum shall be payable from the TI FundFund (as defined in Section 5(d)). Such Administrative Rent shall coverinclude, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with, such with monitoring of the construction of the Tenant ImprovementsImprovements and Changes, and shall be payable out of the TI Fund. If the Budget is greater than the TI Allowance, Tenant shall deposit with Landlord the difference, in cash, prior to the commencement of construction of the Tenant Improvements or Changes, for disbursement by Landlord as described in Section 5(d).

Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant shall obtain a detailed breakdown, by trade, of the costs incurred or that which will be incurred, in connection with the design and construction of The Tenant Improvements Tenant’s Work (the “Budget”), and deliver a copy of the Budget to Landlord for Landlord’s approval, which shall not be unreasonably withheld or delayed. The Budget shall be based upon the TI Construction Drawings approved by Landlord and shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to 1% of the TI Costs (as hereinafter defined) $_____ for monitoring and inspecting the construction of the Tenant ImprovementsTenant’s Work, which sum shall be payable from the TI Fund. Such Administrative Rent shall coverinclude, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with, such monitoring of the construction of the Tenant Improvements, and shall be payable out of the TI Fund. If the Budget is greater than the TI Allowance, Tenant shall deposit with Landlord the difference, in cash, prior to the commencement of construction of the Tenant Improvements, for disbursement by Landlord as described in Section 5(d) hereof.