Common use of Cost of Improvements Clause in Contracts

Cost of Improvements. “Cost of Improvement” shall mean, with respect to any Work or item or component thereof for which a cost must be determined for purposes of this Workletter, the sum of the following (unless otherwise agreed in writing by Landlord and Tenant with respect to any specific item or component or any category of items or components): (i) all sums paid to contractors or subcontractors for labor and materials furnished in connection with construction of such item or component; (ii) all costs, expenses, payments, fees and charges (other than penalties) paid or incurred to or at the direction of any city, county or other governmental or quasi-governmental authority or agency which are required to be paid in order to obtain all necessary governmental permits, licenses, inspections and approvals relating to construction of such item or component; (iii) engineering and architectural fees for services rendered in connection with the design and construction of such item or component (including, but not limited to, the applicable Architect for such item or component and an electrical engineer, mechanical engineer and civil engineer or other technical consultant); (iv) sales and use taxes; (v) testing and inspection costs; (vi) the cost of power, water and other utility facilities and the cost of collection and removal of debris required in connection with construction of such item or component; (vii) all other “hard” and “soft” costs incurred in the construction of such item or component in accordance with the applicable Approved Plans and this Workletter; and (viii) as to the Tenant Improvements, all costs and items specifically set forth or described on Schedule C-2 attached hereto.

Cost of Improvements. “Cost of Improvement” COST OF IMPROVEMENTS" shall mean, with respect to any Work or item or component thereof for which a cost must be determined for purposes of in order to allocate such cost, or an increase in such cost, to Base Building Work and/or Tenant's Work pursuant to this WorkletterWork Letter or pursuant to the Lease, the sum of the following (unless otherwise agreed in writing by Landlord and Tenant with respect to any specific item or component or any category of items or components): (i) all sums paid to contractors or subcontractors for labor and materials furnished in connection with construction of such item or component; (ii) all costs, expenses, payments, fees and charges (other than penalties) paid or incurred to or at the direction of any city, county or other governmental or quasi-governmental authority or agency which are required to be paid in order to obtain all necessary governmental permits, licenses, inspections and approvals relating to construction of such item or component; (iii) engineering and architectural fees for services rendered in connection with the design and construction of such item or component (including, but not limited to, the applicable Architect for such item or component and an electrical engineer, mechanical engineer and civil engineer or other technical consultantengineer); (iv) sales and use taxes; (v) testing and inspection costs; (vi) the cost of power, water and other utility facilities and the cost of collection and removal of debris required in connection with construction of such item or component; and (vii) all other “"hard” and “soft” " costs incurred in the construction of such item or component in accordance with the applicable Approved Plans and this Workletter; and (viii) as to the Tenant Improvements, all costs and items specifically set forth or described on Schedule C-2 attached heretoWork Letter.

Cost of Improvements. “Cost of Improvement” shall mean, with respect to any Work or item or component thereof for which a cost must be determined for purposes of this Workletter, the The sum of the following (unless otherwise agreed in writing by Landlord and Tenant the relevant parties with respect to any specific item or component or any category of items or components): (i) all sums paid to contractors or subcontractors for labor and materials furnished in connection with construction of such item or component; (ii) all costs, expenses, payments, fees fees, taxes, levies and charges (other than penalties) paid or incurred to or at the direction of any city, county or other governmental or quasi-governmental authority or agency which are required to be paid in order to obtain all necessary governmental permits, licenses, inspections and approvals relating to construction of such item or component; (iii) engineering and architectural fees for services rendered in connection with the design and construction of such item or component 751986.05/▇▇▇▇▇▇▇▇▇-00016/4-6-16/ctl/kmo -2- HCP BTC, LLC[Workletter] (including, but not limited to, the applicable Architect for such item or component and an electrical engineer, mechanical engineer and civil engineer or other technical consultantengineer); (iv) sales and use taxes; (v) testing and inspection costs; (vi) the cost of power, water and other utility facilities and the cost of collection and removal of debris required in connection with construction of such item or component; (vii) costs incurred for the management and administration of the construction of the Subtenant Improvements, including, without limitation, wages, labor burden, and expediting, procurement and administrative expenses; and (viii) all other “"hard” and “soft” " costs incurred in the construction of such item or component in accordance with the applicable Approved Plans and this Workletter; and (viii) as to the Tenant Improvements, all costs and items specifically set forth or described on Schedule C-2 attached hereto.