Common use of Work Cost Estimate and Statement Clause in Contracts

Work Cost Estimate and Statement. Prior to the commencement of construction of any of the Tenant Improvements shown on the Final Plans, Tenant will submit to Landlord a written estimate of the cost to complete the Tenant Improvement Work, which written estimate will be based on the Final Plans taking into account any modifications which may be required to reflect changes in the Final Plans required by the City or County in which the Premises are located (the “Work Cost Estimate”). Within five (5) business days of Tenant’s submission to Landlord of the Work Cost Estimate, Landlord, in Landlord’s reasonable discretion, will either approve the Work Cost Estimate or disapprove specific items and submit to Tenant revisions to the Final Plans to reflect deletions of and/or substitutions for such disapproved items. Submission and approval of the Work Cost Estimate will proceed in accordance with the Work Schedule. Upon Landlord’s approval of the Work Cost Estimate (such approved Work Cost Estimate to be hereinafter known as the “Work Cost Statement”), Tenant will have the right to purchase materials and to commence the construction of the items included in the Work Cost Statement pursuant to Section 6 hereof. If the total costs reflected in the Work Cost Statement exceed the Allowance described in Section 5 below, Tenant agrees to pay such excess.

Work Cost Estimate and Statement. Prior to the commencement of construction of any of the Tenant Improvements shown on the Final Plans, Tenant will submit to Landlord a written estimate of the cost to complete the Tenant Improvement Work, which written estimate will be based on the Final Plans taking into account any modifications which may be required to reflect changes in the Final Plans required by the City or County in which the Premises are located and based on the lowest bid submitted by reputable tenant improvement contractors selected by Tenant and reasonably approved by Landlord (the “"Work Cost Estimate”"). Within five (5) business days of Tenant’s submission to Landlord of the Work Cost Estimate, Landlord, in Landlord’s reasonable discretion, will either approve the Work Cost Estimate or disapprove specific items and submit to Tenant revisions to the Final Plans to reflect deletions of and/or substitutions for such disapproved items. Submission and approval of the Work Cost Estimate will proceed in accordance with the Work Schedule. Upon Landlord’s 's approval of the Work Cost Estimate (such approved Work Cost Estimate to be hereinafter known as the “"Work Cost Statement”"), Tenant will have the right to purchase materials and to commence the construction of the items included in the Work Cost Statement pursuant to Section Paragraph 6 hereof. If the total costs reflected in the Work Cost Statement exceed the Allowance described in Section Paragraph 5 below, Tenant agrees to pay such excessexcess to Tenant's Contractor (defined below). The contractor selected by Landlord and Tenant through the competitive bidding process is referred to herein as "Tenant's Contractor". Tenant's written construction agreement with Tenant's Contractor shall be subject to Landlord's prior review and approval.

Work Cost Estimate and Statement. Prior to the commencement of construction of any of the Tenant Improvements shown on the Final Plans, Tenant Landlord will submit to Landlord Tenant a written estimate of the cost (the “Work Cost”) to complete the Tenant Improvement Work, which written estimate will be based on the Final Plans taking into account any modifications which may be required to reflect changes in the Final Plans required by the City or County in which the New Premises are located (the “Work Cost Estimate”), and competitively bid by at least 3 subs for each trade (to the extent reasonably practicable). Within five (5) business days of Tenant’s submission to Landlord of the Work Cost Estimate, Landlord, in Landlord’s reasonable discretion, Tenant will either approve the Work Cost Estimate or disapprove specific items and submit to Tenant Landlord revisions to the Final Plans to reflect deletions of and/or substitutions for such disapproved items. Submission and approval of the Work Cost Estimate will proceed in accordance with the Work Schedule. Upon LandlordTenant’s approval of the Work Cost Estimate (such approved Work Cost Estimate to be hereinafter known as the “Work Cost Statement”), Tenant Landlord will have the right to purchase materials and to commence the construction of the items included in the Work Cost Statement pursuant to Section 6 hereof. If the total costs reflected in the Work Cost Statement exceed the Allowance described in Section 5 below, Tenant agrees to pay such excess, as Additional Rent as invoiced after the allowance has been expended in full. Throughout the course of construction, any differences between the estimated Work Cost in the Work Cost Statement and the actual Work Cost will be determined by Landlord and appropriate adjustments and payments by Landlord or Tenant, as the case may be.

Work Cost Estimate and Statement. Prior to the commencement of construction of any of the Tenant Office Improvements shown on the Tenant's Final PlansPlans and/or the Above-Standard Improvements, Tenant Landlord will submit to Landlord Tenant a written estimate of the cost to complete the Tenant Improvement Work, which written estimate will be based on the Tenant's Final Plans taking into account any modifications modification which may be required to reflect changes in the Tenant's Final Plans required by the City or County in which the Premises are located (the “"Work Cost Estimate”"). Within five (5) business days of Tenant’s submission to Landlord of the Work Cost Estimate, Landlord, in Landlord’s reasonable discretion, Tenant will either approve the Work Cost Estimate or disapprove specific items and submit to Tenant Landlord revisions to the Tenant's Final Plans to reflect deletions of and/or substitutions for such disapproved items. Submission and approval of the Work Cost Estimate will proceed in accordance with the Work Schedule. Upon Landlord’s Tenant's approval of the Work Cost Estimate (such approved Work Cost Estimate to be hereinafter known as the “"Work Cost Statement”"), Tenant Landlord will have the right to purchase materials and to commence the construction of the items included in the Work Cost Statement pursuant to Section Paragraph 6 hereof. If the total costs reflected reflective in the Work Cost Statement exceed the applicable Allowance described in Section Paragraph 5 below, Tenant agrees to pay such excess, as additional rent, prior to the Commencement Date.

Work Cost Estimate and Statement. Prior to the commencement of construction of any of the Tenant Improvements shown on the Final Plans, Tenant will submit to Landlord a written estimate of the cost (the "Work Cost") to complete the Tenant Improvement Work, which written estimate will be based on the Final Plans taking into account any modifications which may be required to reflect changes in is the Final Plans required by the City or County in which the Premises are Expansion Space is located (the “"Work Cost Estimate”"). Within five (5) business days of Tenant’s submission to Landlord of the Work Cost Estimate, Landlord, in Landlord’s reasonable discretion, will either approve the Work Cost Estimate or disapprove specific items and submit to Tenant revisions to the Final Plans to reflect deletions of and/or substitutions for such disapproved items. Submission and approval of the Work Cost Estimate (which approval shall be deemed given within three (3) Business Days of Landlord's receipt thereof and which Work Cost Estimate may not be disapproved absent clear error) will proceed in accordance with the Work Schedule. Upon Landlord’s 's approval or deemed approval of the Work Cost Estimate (such approved Work Cost Estimate to be hereinafter known as the “"Work Cost Statement”"), Tenant will have the right to purchase materials and to commence the construction of the items included in the Work Cost Statement pursuant to Section 6 hereof. If the total costs reflected in the Work Cost Statement exceed the Allowance described in Section 5 below, Tenant agrees to pay such excess.