Common use of Catch-Up Provision Clause in Contracts

Catch-Up Provision. If, after applying the above provisions, the number of units actually under lease on December 1st of the immediately prior calendar year exceeds the Baseline Renewal Number for the new calendar year, then the Baseline Renewal Number for the new calendar year shall become the number of units actually under lease on December 1st of the immediately prior calendar year; provided, however, that the Baseline Renewal Number shall never go above the sum total of the Renewal Unit Numbers for all prior years, not to exceed 2600 units.