Cost Approval Clause Samples

The Cost Approval clause establishes a requirement that certain expenses or costs must receive prior authorization before being incurred. Typically, this clause outlines which types of costs need approval, who has the authority to grant such approval, and the process for submitting requests, such as written notice or budget proposals. Its core practical function is to control spending and prevent unauthorized or unexpected financial commitments, thereby ensuring budgetary discipline and reducing the risk of disputes over unapproved expenditures.
Cost Approval. Lessee shall pay the excess of the Tenant Improvement Costs over the amount of the Tenant Improvement Allowance available to defray such costs. Concurrent with the plan checking referred to in Paragraph (b) of this Paragraph 56, Lessor shall prepare and submit to Lessee a written estimate of the amount of the remaining Tenant Improvement Costs and the cost of the Tenant Improvement Allowance still available to defray such costs 12 Initials /s/ JS -- /s/ MA -- (after preparation of the Preliminary Plans and Working Drawings). Lessee shall approve or disapprove any such estimate by written notice to Lessor within three (3) days after receipt thereof. If Lessee fails to notify Lessor of its disapproval within such three (3) day period, Lessee shall be deemed to have approved such estimate. If Lessee approves such estimate, Lessee's notice of approval shall include payment to Lessor for an amount equal to Fifty Thousand Dollars ($50,000.00). If Lessee disapproves such estimate within the three (3) day period, Lessee shall be required to direct Lessor and the Architect to amend the Working Drawings in a manner satisfactory to Lessor so as to reduce the estimated costs to an amount acceptable to Lessee, and any excess estimated costs remaining after such amendment shall be paid by Lessee in the manner described in the preceding sentence. Lessee shall additionally pay any costs resulting from such amendment and Lessee shall be liable for the delay in completing the Tenant Improvements and the increased costs, if any, resulting from such delay. If Lessee is unwilling or unable to amend the Working Drawings in a manner acceptable to Lessor, then Lessee shall be deemed to have approved of the estimate for the Working Drawings as prepared, Lessee shall pay the Fifty Thousand Dollars ($50,000.00) to Lessor, and shall pay in full the amount of any excess estimated costs together with any costs arising from delay as a result of Lessee's actions hereunder, in the manner hereinabove provided.
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Cost Approval. Tenant shall pay the excess of the Tenant Improvement Costs over the amount of the Tenant Improvement Allowance available to defray such costs. Concurrent with the plan checking referred to in Section 3 of this Work Letter, Landlord shall prepare and submit to Tenant a written estimate of the amount of the remaining Tenant Improvement Costs and the Cost of the Tenant Improvement Allowance still available to defray such costs (after preparation of the Preliminary Plans and Working Drawings). Tenant shall
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Related to Cost Approval

  • Project Approval The County may issue a Job Order Authorization for the Work, to include the firm-fixed-price of the Job Order and the project duration. Contractor agrees that all clauses of this Contract are applicable to any Job Order issued hereunder. The County reserves the right to reject a Contractor’s Quote based on unjustifiable quantities and/or methods, performance periods, inadequate documentation, or other inconsistencies or deficiencies on the Contractor’s part in the sole opinion of the County. The County reserves the right to issue a unilateral Job Order authorization for the Work if a Quote price cannot be mutually agreed upon. This is based upon unjustifiable quantities in the sole opinion of the County. The County also reserves the right to not issue a Job Order Authorization if the County’s requirement is no longer valid or the project is not funded. In these instances, the Contractor has no right of claim to recover Quote expenses. The County may pursue continuing valid requirements by other means where Contract was not reached with the Contractor.

  • New Project Approval Consultant and District recognize that Consultant’s Services may include working on various projects for District. Consultant shall obtain the approval of District prior to the commencement of a new project.

  • Final Approval After Acceptance, Engineer shall perform any required modifications, changes, alterations, corrections, redesigns, and additional work necessary to receive Final Approval by the County. "Final Approval" in this sense shall mean formal recognition that the Engineering Services have been fully carried out.

  • Project Approvals The Borrower will promptly obtain all Project Approvals not heretofore obtained by the Borrower (including those listed and described on Schedule 8.22 (a) hereto and any other Project Approvals which may hereafter become required, necessary or desirable) and will furnish the Agent with evidence that the Borrower has obtained such Project Approvals promptly upon its request. The Borrower will give all such notices to, and take all such other actions with respect to, such Governmental Authority as may be required under applicable Requirements to construct the Improvements and to use, occupy and operate the Project following the completion of the construction of the Improvements. The Borrower will also promptly obtain all utility installations and connections required for the operation and servicing of the Project for its intended purposes, and will furnish the Agent with evidence thereof. The Borrower will duly perform and comply with all of the terms and conditions of all Project Approvals obtained at any time, including all Project Approvals listed and described on Schedules 8.22(a) and 8.22(b) hereto.

  • Settlement Approval The approval of the Master Servicer need not be requested for disposition of insurance loss settlements and the Servicer may disburse the loss proceeds as provided herein.