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Budget for Tenant Improvements
Budget for Tenant Improvements contract clause examples

Coordination. Prior to the commencement of construction of the Tenant Improvements, Landlord and Tenant shall hold monthly meetings at a reasonable time to be agreed upon by Landlord and Tenant regarding the progress of the Base Building Improvements and the progress of the design of the Tenant Improvements. Tenant shall obtain independent bids or proposals for construction of the Tenant Improvements from at least three (3) general contractors approved by

Landlord, unless one of such general contractors is Landlord’s general contractor performing the Base Building Improvements, in which case, only two (2) bids shall be required (one from Landlord’s general contractor and the other from an independent general contractor). Prior to the commencement of construction, Landlord and Tenant shall consult with each other and work together to ensure that both parties are satisfied with the terms of the proposed construction contract, cost estimates, accounting, schedule and logistics for construction of the Tenant Improvements. Following the commencement of construction of the Tenant Improvements, Tenant shall hold weekly meetings at a reasonable time with Tenant’s Architect and Tenant’s Contractor regarding the progress of construction of the Tenant Improvements. Landlord and/or its agents shall receive prior notice of, and shall have the right to attend, all such meetings, and, upon Landlord’s request, certain of Tenant’s Agents shall attend such meetings. In addition, minutes shall be taken at all such meetings, a copy of which minutes shall be promptly delivered to Landlord.

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