APPROVAL OF COST QUOTATION BY TENANT Sample Clauses

APPROVAL OF COST QUOTATION BY TENANT. If the Cost Quotation exceeds the Improvement Allowance, Tenant shall, within five (5) Business Days of receipt thereof (“Response Period”), either: (i) agree in writing to pay the cost by which the Cost Quotation exceeds the Improvement Allowance (“Excess Costs”), or (ii) revise the Space Plan so that the Cost Quotation is either (a) no more than the Improvement Allowance, or (b) in excess of the Improvement Allowance by the amount of Excess Costs which Tenant agrees to pay. If Tenant elects to revise the Space Plan in order to reduce the Cost Quotation, the period of time in excess of the Response Period between Tenant’s election to revise the Space Plan and the approval of the revised Space Plan by Tenant will constitute a Tenant Delay If the Improvement Allowance exceeds the Total Costs, Tenant will not be entitled to any credit or other reimbursement. The failure of Tenant to respond within the five (5) Business Day period shall be deemed to be Tenant’s agreement to pay all of the Excess Costs. Upon approval by Tenant, Landlord shall be authorized to proceed with the Construction Drawings and Specification in accordance with the approved Space Plan. All costs of revising the Space Plan, including, without limitation, re-engineering, estimating, printing of drawings, blueprints, costs of any space planner, architect, engineering consultants and other consultants and any other incidental expenses, shall be chargeable against the Improvement Allowance and the Total Costs.
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APPROVAL OF COST QUOTATION BY TENANT. Tenant shall, within five (5) Business Days of receipt thereof, either: (i) agree in writing to pay the cost by which the Cost Quotation exceeds the sum of the Tenant Improvement Allowance and the Tenant Contingency Allowance ("Additional Cost"), or (ii) revise the T.I. Construction Documents or Space Plan so that the Cost Quotation is either (a) no more than the Tenant Improvement Allowance plus Tenant Contingency Allowance, or (b) in excess of the Tenant Improvement Allowance plus Tenant Contingency Allowance by the amount of Additional Cost which Tenant agrees to pay. If Tenant elects to revise the T.I. Construction Documents in order to reduce the Cost Quotation, the period of time between Tenant's election to revise the T.I. Construction Documents and the approval of the revised T.I. Construction Documents by Tenant shall constitute a Tenant Delay (as defined below). If the sum of the Cost Quotation plus the amounts described in Section 3.1.I (b) and 3.1.1
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APPROVAL OF COST QUOTATION BY TENANT. If the Cost Quotation exceeds Tenant's anticipated budget for the Tenant Improvements ("Budget"), Tenant shall either: (i) agree in writing to pay the entire Cost Quotation, or (ii) in cooperation with the Space Planner and Landlord revise the Construction Documents and/or Space Plan so that the Cost Quotation is an amount which Tenant agrees to pay. Upon approval by Tenant, Tenant shall immediately proceed with the Tenant Improvements in accordance with the approved Construction Documents. All costs of revising the Construction Documents, re-engineering, estimating, printing of drawings, costs of any space planner, architect, engineering consultants and other consultants and any other incidental expenses, shall be at the sole cost of Tenant.
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Related to APPROVAL OF COST QUOTATION BY TENANT

  • Apportionment, Application and Reversal of Payments Principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Loans to which such payments relate held by each Lender) and payments of the fees shall, as applicable, be apportioned ratably among the Lenders. All payments shall be remitted to the Agent and all such payments not relating to principal or interest of specific Loans, or not constituting payment of specific fees, and all proceeds of Accounts or other Collateral received by the Agent, shall be applied, ratably, subject to the provisions of this Agreement, first, to pay any fees, indemnities or expense reimbursements then due to the Agent from the Borrower; second, to pay any fees or expense reimbursements then due to the Lenders from the Borrower; third, to pay interest due in respect of all Revolving Loans, including Non-Ratable Loans and Protective Advances; fourth, to pay or prepay principal of the Non-Ratable Loans and Protective Advances; fifth, to pay or prepay principal of the Revolving Loans (other than Non-Ratable Loans and Protective Advances) and sixth, to the payment of any other Obligation including any amounts relating to Bank Products due to the Agent or any Lender or any of their Affiliates by the Borrower. Notwithstanding anything to the contrary contained in this Agreement, unless so directed by the Borrower, or unless an Event of Default has occurred and is continuing, neither the Agent nor any Lender shall apply any payments which it receives to any LIBOR Revolving Loan, except (a) on the expiration date of the Interest Period applicable to any such LIBOR Rate Loan, or (b) in the event, and only to the extent, that there are no outstanding Base Rate Revolving Loans. The Agent shall promptly distribute to each Lender, pursuant to the applicable wire transfer instructions received from each Lender in writing, such funds as it may be entitled to receive, subject to a Settlement delay as provided for in Section 2.2(j). The Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the Obligations.

  • Termination by Lessor Lessor may terminate the lease at any time if any of the following shall happen:

  • Termination by Licensor Without Notice Licensee shall be deemed to be in default under this Agreement, and all rights granted herein shall automatically terminate without notice to Licensee, if Licensee becomes insolvent or makes a general assignment for the benefit of creditors; or if a petition in bankruptcy is filed by Licensee or against Licensee and not opposed by Licensee within sixty (60) days of such filing; or if Licensee is adjudicated as bankrupt or insolvent; or if a bill ▇▇ equity or other proceeding for the appointment of a receiver of Licensee or other custodian for Licensee's business or assets if filed and consented to by Licensee; or if a receiver or other permanent or temporary custodian of Licensee's assets or property, or any part thereof, is appointed by any court of competent jurisdiction; or if proceedings for a composition with creditors under any state or federal law should be instituted by or against Licensee; or if a material final judgment remains unsatisfied or of record for thirty (30) days or longer (unless supersedeas bond is filed); or if Licensee is dissolved; or if a suit to foreclose any lien or mortgage against real or personal property used in the operation of Licensee's business, the loss of which would have a material adverse effect on Licensee, is instituted against Licensee and not dismissed within thirty (30) days; or if execution is levied against Licensee's business or property, the loss of which would have a material adverse effect on Licensee; or if real or personal property of Licensee used in its business, the loss of which would have a material adverse effect on Licensee, shall be sold after levy thereupon by any sheriff, marshal, or constable; or if Licensee at any time ceases to operate or otherwise abandons its business or otherwise forfeits the right to do or transact business in any market(s) in the Territory; or if Licensee loses any government license required to engage in the Business or otherwise forfeits the right to do or transact business in one or more market(s), in which event Licensee's rights under this Agreement shall automatically terminate.

  • Termination by Licensee Licensee, at its option, may terminate the Agreement by providing Licensor written notice of intent to terminate, which such termination effective will be ninety (90) days following receipt of such notice by Licensor.

  • Termination by Tenant In the event that the destruction to the Premises cannot be restored as required herein under applicable laws and regulations within two hundred seventy (270) days of the damage or casualty, notwithstanding the availability of insurance proceeds, Tenant shall have the right to terminate this Lease by giving the Landlord notice thereof within thirty (30) days of date of the occurrence of such casualty specifying the date of termination which shall not be less than thirty (30) days nor more than sixty (60) days following the date on which such notice of termination is given. In the event of the giving of such notice of termination, this Lease shall expire and all interest of Tenant in the Premises shall terminate on the date so specified in such notice and the Rent, reduced by any proportionate reduction in Rent as provided for in Section 18.1 above, shall be paid to the date of such termination.