Common use of Cost Proposal Clause in Contracts

Cost Proposal. After the Approved Working Drawings are approved by Tenant, Landlord shall provide Tenant with a cost proposal in accordance with the Approved Working Drawings, which cost proposal shall include, as nearly as possible, the cost of all Improvement Allowance Items to be incurred in connection with the design and construction of the Improvements (the "Cost Proposal"); provided, however, Contractor shall be required to bid each of the major subcontractors (as reasonably determined by Landlord) with at least three (3) qualified subcontractors (except that the fire, life safety subcontractor shall be designated by Landlord), and Landlord shall, unless otherwise directed by Tenant at the time Tenant approves the Cost Proposal, select the lowest cost bid which is conforming and consistent with the bid assumptions and directions and Landlord's construction schedule. Tenant shall approve and deliver the Cost Proposal to Landlord within five (5) days of the receipt of the same, and upon receipt of the same by Landlord, Landlord shall be released by Tenant to purchase the items set forth in the Cost Proposal and to commence the construction relating to such items. The date by which Tenant must approve and deliver the Cost Proposal to Landlord shall be known hereafter as the "Cost Proposal Delivery Date".

Cost Proposal. After the Approved Working Drawings are approved signed by Landlord and Tenant, the same shall be submitted to a general contractor selected by Tenant from a list of contractors preapproved by Landlord (who shall be the “Contractor”). The Contractor shall be instructed to obtain bids from at least two subcontractors for each trade, in accordance with Schedule 1 to this Work Letter. Costs of the Tenant Improvements shall be on an “open book” basis and Contractor shall provide Landlord and Tenant with a cost proposal in accordance with on the Approved Working Drawingsbasis of the bids selected, which cost proposal shall include, as nearly as possible, the cost of all Improvement Allowance Items items to be incurred in connection with the design and construction of the Tenant Improvements (the "“Cost Proposal"”); provided, however, Contractor shall be required to bid each of the major subcontractors (as reasonably determined by Landlord) with at least three (3) qualified subcontractors (except that the fire, life safety subcontractor shall be designated by Landlord), and Landlord shall, unless otherwise directed by Tenant at the time Tenant approves the Cost Proposal, select the lowest cost bid which is conforming and consistent with the bid assumptions and directions and Landlord's construction schedule. Tenant shall approve and deliver the Cost Proposal to Landlord within five (5) days of the receipt of the samein accordance with Schedule 1, and upon receipt of the same by Landlord, Landlord shall be released by Tenant to purchase the items set forth in the Cost Proposal and to commence the construction relating to such itemsconstruction. The date by which Tenant must approve and deliver the Cost Proposal to Landlord shall be known hereafter as the "“Cost Proposal Delivery Date"”. If requested by Tenant, the Contractor shall prepare separate Cost Proposals for the Tenant Improvements in the Third Additional Premises and the Existing Premises.

Cost Proposal. After the Approved Working Drawings are approved signed by Landlord and Tenant, Landlord cause the Contractor to competitively bid the subcontracts with the major trades and based on that bidding process shall provide Tenant with a cost proposal in accordance with the Approved Working Drawings, which cost proposal shall include, as nearly as possible, the cost of all Tenant Improvement Allowance Items to be incurred by Tenant in connection with the design and construction of the Tenant Improvements (the "“Cost Proposal"”); provided. Notwithstanding the foregoing, however, Contractor shall be required to bid each portions of the major subcontractors cost of the Tenant Improvements may be delivered to Tenant as such portions of the Tenant Improvements are priced by Contractor (as reasonably determined by Landlord) with at least three (3) qualified subcontractors (except that the fire, life safety subcontractor shall be designated by Landlordon an individual item-by-item or trade-by-trade basis), and Landlord shall, unless otherwise directed by Tenant at even before the time Tenant approves Approved Working Drawings are completed (the “Partial Cost Proposal, select the lowest cost bid which is conforming and consistent with the bid assumptions and directions and Landlord's construction schedule”). Tenant shall approve and deliver the Cost Proposal to Landlord within five (5) business days of the receipt of the samesame (or, and upon as to a Partial Cost Proposal, within two (2) business days of receipt of the same by Landlord, Landlord shall be released by Tenant to purchase the items set forth in the Cost Proposal and to commence the construction relating to such itemssame). The date by which Tenant must approve and deliver the Cost Proposal, or the last Partial Cost Proposal to Landlord Landlord, as the case may be, shall be known hereafter as the "“Cost Proposal Delivery Date".” The total of all Partial Cost Proposals, if any, shall be known as the Cost Proposal.

Cost Proposal. After the Approved Working Drawings are approved signed by Landlord and Tenant, Landlord shall provide Tenant with a cost proposal in accordance with the Approved Working Drawings, which cost proposal shall include, as nearly as possible, the cost of all Tenant Improvement Allowance Items to be incurred by Tenant in connection with the design and construction of the Tenant Improvements (the "“Cost Proposal"”), and which shall also include the bid amount submitted by each qualified major subcontractor; provided, however, the Contractor shall be required to bid each of the major subcontractors (as reasonably determined by Landlord) with at least three two (32) qualified subcontractors (except that the fire, life safety subcontractor shall be designated by Landlord)subcontractors, and Landlord shall, unless otherwise directed by Tenant at the time Tenant approves the Cost Proposal, select the lowest cost bid which is conforming and consistent with the bid assumptions and directions and Landlord's construction scheduledirections. Tenant shall approve and deliver the Cost Proposal to Landlord within five (5) business days of the receipt of the same, and upon receipt of the same by Landlord, Landlord shall be released by Tenant to purchase the items set forth in the Cost Proposal and to commence the construction relating to such items. The date by which Tenant must approve and deliver the Cost Proposal to Landlord shall be known hereafter as the "“Cost Proposal Delivery Date"”.

Cost Proposal. After Landlord agrees to construct the Approved Working Drawings are approved by TenantWork shown on the Initial Plans and Budget on a “turn-key” basis, provided that Tenant timely contributes any required funds set forth in Section 5(E) hereof. If the Plans reflect the Initial Plans and Budget without material changes, Landlord, after first consulting with the Tenant on the Plans, may immediately proceed with construction thereof. Landlord shall not be required to accept any changes to the Initial Plans and Budget but, if Landlord agrees to do so or if Tenant Delays or Change Orders require price increases, Landlord shall provide advise Tenant with of price estimates (including breakdowns by trade) as promptly as possible but in any event within twenty (20) business days after Landlord’s receipt of approval of the Plans. In such event, Landlord shall calculate and furnish to Tenant a cost proposal in accordance with “Cost Proposal” which shall constitute the Approved Working Drawingsaggregate of (i) the amounts payable under the subcontracts selected (and, which cost proposal shall include, as nearly as possiblewhere the General Contractor is performing work that would be performed by a subcontractor, the cost of such work) in the bid process, broken down by trade (“Direct Costs”), and (ii) the amount of the General Contractor’s fee and general conditions based on the Direct Costs, (iii) a construction management fee for Landlord equal to five percent (5%) of the cost of Landlord’s Work (including all Improvement Allowance Items to be incurred related hard and soft costs) in connection with the design and construction performance of the Improvements (the "Cost Proposal"); provided, however, Contractor shall be required to bid each of the major subcontractors (as reasonably determined by Landlord) with at least three (3) qualified subcontractors (except that the fire, life safety subcontractor shall be designated by Landlord)’s Work, and Landlord shall, unless otherwise directed by Tenant at the time Tenant approves the Cost Proposal, select the lowest cost bid which is conforming and consistent with the bid assumptions and directions and Landlord's construction schedule. Tenant shall approve and deliver the Cost Proposal to Landlord within five (5iv) days of the receipt of the same, and upon receipt of the same by Landlord, Landlord shall be released by Tenant to purchase the items set forth in the Cost Proposal and to commence the construction relating to such items. The date by which Tenant must approve and deliver the Cost Proposal to Landlord shall be known hereafter as the "Cost Proposal Delivery Date"a reasonable contingency.

Cost Proposal. After the Approved Working Drawings are approved signed by Landlord and Tenant, Landlord shall provide Tenant with a cost proposal in accordance with the Approved Working Drawings, which cost proposal shall include, as nearly as possible, the cost of all Tenant Improvement Allowance Items to be incurred by Tenant in connection with the design and construction of the Tenant Improvements (the "Cost Proposal"), and which shall also include the bid amount submitted by each qualified major subcontractor; provided, however, the Contractor shall be required to bid each of the major subcontractors (as reasonably determined by Landlord) with at least three two (32) qualified subcontractors (except that the fire, life safety subcontractor shall be designated by Landlord)subcontractors, and Landlord shall, unless otherwise directed by Tenant at the time Tenant approves the Cost Proposal, select the lowest cost bid which is conforming and consistent with the bid assumptions and directions and Landlord's construction scheduledirections. Tenant shall approve and deliver the Cost Proposal to Landlord within five (5) business days of the receipt of the same, and upon receipt of the same by Landlord, Landlord shall be released by Tenant to purchase the items set forth in the Cost Proposal and to commence the construction relating to such items. The date by which Tenant must approve and deliver the Cost Proposal to Landlord shall be known hereafter as the "Cost Proposal Delivery Date".

Cost Proposal. After the Approved Working Drawings are approved signed by Landlord and Tenant, Landlord shall provide Tenant with a cost proposal in accordance with the Approved Working Drawings, which cost proposal shall include, as nearly as possible, the cost of all Improvement Allowance Items to be incurred by Tenant in connection with the design and construction of the Improvements (the "Cost Proposal"); provided, however, Contractor shall be required to bid each of the major subcontractors (as reasonably determined by Landlord) with at least three (3) qualified subcontractors (except that the fire, life safety subcontractor shall be designated by Landlord), and Landlord shall, unless otherwise directed by Tenant at the time Tenant approves the Cost Proposal, select the lowest cost bid which is conforming and consistent with the bid assumptions and directions and Landlord's construction schedule. Tenant shall either (i) approve and deliver the Cost Proposal to Landlord within five (5) business days of the receipt of the same, and upon or (ii) notify Landlord within five (5) business days after Tenant's receipt of the same by LandlordCost Proposal that Tenant wishes to change the amount of the Cost Proposal, in which case Landlord shall use commercially reasonable efforts to accommodate Tenant's requested change; provided, however, Landlord's consent to any such foregoing change (i) may be released by Tenant to purchase the items set forth withheld, in Landlord's sole and absolute discretion, if such change in the Cost Proposal and Approved Working Drawings would directly or indirectly materially delay the Substantial Completion of the Premises, or otherwise materially increase the costs of the Improvements (unless Tenant agrees to commence the construction relating to bear such items. The date by which Tenant must approve and deliver the Cost Proposal to Landlord increased cost), or (ii) shall not otherwise be known hereafter as the "Cost Proposal Delivery Date"unreasonably withheld, conditioned, or delayed.