Common use of Approved Plans and Specifications Clause in Contracts

Approved Plans and Specifications. Pursuant to the completion of the Predevelopment Work, the Predevelopment Phase Work and the Determination Phase Work, but prior to the closing of the Development Loan, the Developer and the Design Builder shall agree on the final plans and specifications for the Building Improvements for each Phase as prepared by the Design Builder and the Architect, as the same may be modified from time to time in accordance with the terms of this Agreement (the “Approved Plans and Specifications”). The Owner shall have the right to approve the Approved Plans and Specifications, such review to be limited to, and based solely on, the compliance of the Approved Plans and Specifications with the Premises Requirements. In order to evidence the acceptance of the Approved Plans and Specifications, the Owner, the Developer, the Architect and the Design Builder shall execute and deliver the Approved Plans and Specifications Letter, substantially in the form attached to this Agreement as Exhibit I.

Approved Plans and Specifications. Pursuant to the completion of the Predevelopment Work, the Predevelopment Phase Work and the Determination Phase WorkWork associated with each Development Phase, but prior to the closing of the theeach Development Loan, the Developer and the Design Builder shall agree on the final plans and specifications for the Building Improvements for forAnchor Elements within each Development Phase as prepared by the Design Builder and the Architect, as the same may be modified from time to time in accordance with the terms of this Agreement (the “Approved Plans and Specifications”). The Owner shall have the right to approve the theeach set of Approved Plans and Specifications, such review to be limited to, and based solely on, the compliance of the Approved Plans and Specifications with the Premises Requirements. In order to evidence the acceptance of the theeach set of Approved Plans and Specifications, the Owner, the Developer, the Architect and the Design Builder shall execute and deliver the Approved Plans and Specifications Letter, substantially in the form attached to this thisthe Development Agreement as Exhibit I.