Base Year Adjustment Clause Samples
A Base Year Adjustment clause establishes a reference year, known as the base year, for calculating future changes in costs, expenses, or rent under a contract or lease. Typically, this clause is used in commercial leases to determine the tenant’s share of increases in operating expenses or taxes by comparing current costs to those incurred during the base year. For example, if property taxes or maintenance fees rise after the base year, the tenant may be responsible for paying only the portion of the increase above the base year amount. The core function of this clause is to fairly allocate cost increases between parties, ensuring that tenants are not charged for expenses that existed prior to their occupancy while allowing landlords to recover increases in operating costs over time.
Base Year Adjustment. The Star will update the base year from January 1, 2001 to January 1, 2004, effective January 1, 2007.
Base Year Adjustment. Effective as of the date hereof, the references to “Calendar year 2019” in Section 1.5 of the Lease are hereby amended and restated as “Calendar year 2020”.
Base Year Adjustment. The Star will update the base ear from January to January January The January Star will update the base year from to January effective January Local I Room C.A.
Base Year Adjustment. The Star will update the base year from to effective January 1,1995;
Base Year Adjustment. Effective as of January 1, 2022, the Base Year (as defined in Section 1.1 of the Lease) shall be changed from “Calendar year 2015” to “Calendar year 2022.” For the period [*****], Tenant shall not be obligated to pay to Landlord (a) Tenant’s Estimated Monthly Payments of Tenant’s Share of Operating Costs Escalations and (b) Tenant’s Estimated Monthly Real Estate Taxes of Tenant’s Share of Real Estate Tax Escalations. Beginning on [*****], Tenant shall recommence payment to Landlord of (i) Tenant’s Estimated Monthly Payments of Tenant’s Share of Operating Costs Escalations and (ii) Tenant’s Estimated Monthly Real Estate Taxes of Tenant’s Share of Real Estate Tax Escalations. Tenant shall make such payments in accordance with the terms and conditions of Sections 4.2 and 4.3 of the Lease.
Base Year Adjustment. The Employer will update the base year from January 1, 2001 to January 1, 2004, effective January 1, 2007.
Base Year Adjustment. Notwithstanding anything to the contrary contained -------------------- in Paragraph No. 4 "Rental Adjustment," the "Direct Expense Base" shall be equal to the actual expenses incurred, as if the building were ninety-five percent (95%) occupied for the Base Year 1990 and this Lease shall then be amended accordingly.
Base Year Adjustment. The Employer will update the base year from January to January effective January The Employer will update the base year from January to January Effective January