Common use of Alternate Adjustment Date Clause in Contracts

Alternate Adjustment Date. In the event a regular ------------------------- five (5) year Ground Rent adjustment date for the parcel, as established in subsection 3.2.1, occurs after commencement of demolition of a building on said parcel and prior to completion of construction of a new building in its place, said adjustment shall take place on schedule and shall be based upon the assumption that construction of the planned new building has been completed.

Alternate Adjustment Date. In the event a ------------------------- regular ------------------------- five (5) year Ground Rent adjustment date for the parcel, as established in subsection 3.2.1, occurs after commencement of demolition of a building on said parcel and prior to completion of construction of a new building in its place, said adjustment shall take place on schedule and shall be based upon the assumption that construction of the planned new building has been completed.

Alternate Adjustment Date. In the event a regular five ------------------------- five (5) year Ground Rent adjustment date for the parcel, as established in subsection 3.2.1, occurs after commencement of demolition of a building on said parcel and prior to completion of construction of a new building in its place, said adjustment shall take place on schedule and shall be based upon the assumption that construction of the planned new building has been completed.