Common use of Preparation of Estimates Clause in Contracts

Preparation of Estimates. Tenant shall, before proceeding with any Change, using commercially reasonable efforts, prepare as soon as is reasonably practicable (but in no event more than five (5) business days after delivering a Change Request to Landlord or receipt of a Change Request) an estimate of the increased costs or savings that would result from such Change, as well as an estimate on such Change’s effects on the Schedule. Landlord shall have five (5) business days after receipt of such information from Tenant to (a) in the case of a Tenant-initiated Change Request, approve or reasonably reject such Change Request in writing (and if Landlord shall fail to so notify Tenant, Landlord shall be deemed to have approved such Change Request), or (b) in the case of a Landlord-initiated Change Request, notify Tenant in writing of Landlord’s decision either to proceed with or rescind the Landlord-initiated Change Request (and if Landlord shall fail to so notify Tenant, Landlord shall be deemed to have rescinded such Change Request).