Common use of APPROVAL OF COST QUOTATION BY TENANT Clause in Contracts

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.

APPROVAL OF COST QUOTATION BY TENANT. If the Cost Quotation exceeds the Tenant Improvement Allowance, Tenant shall, within five (5) Business Days of receipt thereof (“Response Period”)thereof, either: (i) agree in writing to pay the cost by which the Cost Quotation exceeds the Tenant Improvement Allowance (“"Excess Costs”Cost"), or (ii) in cooperation with the Space Planner and Landlord revise the Construction Documents or Space Plan so that the Cost Quotation is either (a) no more than the Tenant Improvement Allowance, or (b) in excess of the Tenant Improvement Allowance by the amount of Excess Costs Cost which Tenant agrees to pay. If Tenant elects to revise the Construction Documents or Space Plan in order to reduce the Cost Quotation, the period of time in excess of the Response Period between Tenant’s 's election to revise the Construction Documents or Space Plan and the approval of the revised Space Plan Construction Documents by Tenant will Allowance 12/18/94 Landlord Initials /s/ ----- Tenant Initials /s/ ----- EXHIBIT "C" Page 3 of 10 74 Tenant shall constitute a Tenant Delay (as defined below). If the Cost Quotation is less than the Tenant Improvement Allowance, the Tenant Improvement Allowance exceeds shall be deemed to be an amount equal to the Total Costs, Tenant will not be entitled to any credit or other reimbursementCost Quotation. 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 Costsa Tenant Delay. Upon approval by Tenant, Landlord shall be authorized to proceed with the Construction Drawings and Specification Tenant Improvements in accordance with the approved Space PlanConstruction Documents. All costs of revising the Space PlanConstruction Documents, 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 Tenant Improvement Allowance and the Total CostsCost.