Common use of Building Construction Costs Clause in Contracts

Building Construction Costs. 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 costs and expenses of constructing the Building Improvements for each Phase, commonly known as “hard costs,” including, without limitation, the costs and fees payable to the Design Builder pursuant to the Design Build Contract, but not in excess of the Construction Budget absent compliance with other provisions of this Agreement applicable to increases in the Construction Budget (the “Building Construction Costs”).

Building Construction Costs. 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 costs and expenses of constructing the Building Improvements for each Phase, commonly known as “hard costs,” including, without limitation, the costs and fees payable to the Design Builder pursuant to the Design Build Contract, but not in excess of the Construction Budget absent compliance with other provisions of this Agreement applicable to increases in the Construction Budget (the “Building Construction Costs”).