CPI Adjustment. If the CPI Percentage Increase (as defined below) is more than [***] for the relevant Adjustment Period, then the Rent payable during that Adjustment Period shall be adjusted upward by a percentage equal to the CPI Percentage Increase (as defined below) applicable to such Adjustment Period, but not to exceed an adjustment during any Adjustment Period of greater than [***]. The term “Consumer Price Index” shall mean the unadjusted Consumer Price Index for All Urban Workers, U.S. City Average, All Items, 1982-84=100, calculated and published by the United States Department of Labor, Bureau of Labor Statistics. The “CPI Percentage Increase” shall mean, with respect to any Adjustment Period, [***]. For the avoidance of doubt, no CPI Adjustment shall be made to any payment due under this Ground Lease for any Adjustment Period if the result of such CPI Adjustment would be to (a) reduce the amount of such payment to an amount that is less than the amount of such payment due for the immediately preceding Adjustment Period or (b) to raise the amount of such payment to an amount that is greater than [***]. For illustrative purposes only, [***]. The CPI Percentage Increase for any Adjustment Period shall be calculated by the Tenant, and the Tenant shall deliver written notice to the Landlord describing such calculation in reasonable detail (a “CPI Notice”) no later than thirty (30) days after the commencement of any Adjustment Period. If the Landlord disagrees with the Tenant’s calculation of the CPI Percentage Increase, then the Landlord shall deliver to the Tenant written notice, describing the basis for such disagreement in reasonable detail (a “CPI Disagreement Notice”), not later than thirty (30) days after delivery of the CPI Notice. If the Landlord fails to deliver a CPI Disagreement Notice within thirty (30) days after delivery of any CPI Notice, then the Landlord shall be conclusively deemed to have agreed with the calculation of the CPI Percentage Increase set forth in such CPI Notice.
CPI Adjustment. The basic rent provided in Paragraph 4 shall be increased each year by a percentage equal to the percentage change in the Consumer Price Index statistics published by the United States Bureau of Labor. Comparisons shall be made using the index entitled, “U.S. City Average/All Items and Major Group Figures for all Urban Consumers Xxxxxxxx Xxxx (0000-00 = 100),” or the nearest comparable data on changes in the cost of living, if such index is no longer published. The change shall be determined by comparison of the figure for the previous January 1, with that of January 1 of the current year. In no event shall this calculation cause a reduction in base rent below that payable during the preceding year. The proposed adjustment shall be presented to Lessee by Lessor thirty (30) days prior to the effective date of the assessment.
CPI Adjustment. In this Contract*, “CPI-Adjusted*” in reference to an amount means that amount is adjusted under the following formula: N = C × (1+ CPIn − CPIc ) CPIc where:
CPI Adjustment. The fixed fees and other fees expressed as stated dollar amounts in this schedule and in the Agreement shall be increased annually commencing on the one-year anniversary date of the Effective Date by the percentage increase since the Effective Date in consumer prices for services as measured by the United States Consumer Price Index entitled "All Services Less Rent of Shelter" or a similar index should such index no longer be published.
CPI Adjustment. If, at the commencement of the applicable Extension Term, there is a change in the CPI (or any comparable successor or substitute index reasonably designated by the Landlord, appropriately adjusted, and approved by Tenant, such approval not to be unreasonably withheld,) reflecting an increase in the cost of living over and above the cost of living as reflected by the CPI for the month in which the Lease Commencement Date occurs (or, with respect to the Second or Third Extension Tram, the CPI for the month in which the prior Extension Term commenced) (hereinafter called the “Base Price Index”), the “Adjustment” of the Base Rent shall be calculated as follows for the purposes set forth in Section 3.03(d), clause (y): the Base Rent shall be multiplied by a fraction, the numerator of which shall be the CPI for the month in which the applicable Extension Term commences, and the denominator of which (for each such fraction) shall be the Base Price Index. In the event that Landlord determines, and Tenant agrees, that the CPI ceases to use the 1982-84 average of 100 as the basis of calculation, or if a substantial change is made in the terms or number of items contained in the CPI, then the CPI shall be adjusted to the figure that the parties agree in good faith would have been arrived at had the manner of computing the CPI in effect at the date of this Lease not been changed. In the event that within one (1) year following the date that the CPI figure for any month used in calculating the Adjustment shall have been published, the federal government shall revise such figure, then: (x) such revised CPI figure shall thereafter be deemed to be the correct CPI figure for all purposes (unless the federal government shall yet again revise such figure, in which case the most recently revised CPI figure shall be deemed to be correct); and (y) any retroactive adjustment or recomputation resulting from such revised CPI figure shall be limited to encompass only the year immediately preceding the date upon which the revision of such CPI figure shall have first been published. Notwithstanding the foregoing, any such increase in CPI shall not exceed four percent (4%) per year compounded annually.
CPI Adjustment. 4.1 At the expiration of the initial period thereafter ending December 31, 2003 and each five year period during the Term, the Base Rent shall be subject to CPI adjustment as follows: At the expiration of the initial period ending December 31, 2003 and each five year period thereafter, the annual rent for the succeeding five year period shall be determined by multiplying the annual Base Rent in effect for the immediately preceding five year period times the "CPI Factor" (as hereinafter defined), provided, however, that the CPI Factor shall never be less than 1.00. As used herein, the "CPI Factor" which shall be determined at the expiration of each five year period during the Term, shall be determined as follows:
(A) The United States Bureau of Labor Statistics "Consumer Price Index for Urban Consumers All Items-U.S. City Average" (commonly referred to as "CPI-U"), as the same may from time to time be revised, updated or replaced, hereinafter referred to as the "index" (if said index is no longer published, Landlord will use a comparable index) shall be used to determine the CPI Factor set forth in subsection (B) immediately below;
CPI Adjustment. During each calendar year, the Base Rent payable by Tenant to Landlord, shall be adjusted to reflect increases in the Consumer Price Index as follows:
CPI Adjustment. The Annual Rent will increase effective as of the beginning of the second Lease Year and annually thereafter during the Lease Term to reflect the proportionate cumulative increase in the CPI, if any, during the previous Lease Year. For purposes of this section, CPI means the United States Department of Labor, Bureau of Labor Statistics, All Cities Average Consumer Price Index, or if such index is no longer published, a successor or substitute index designated by the Lessor, that shows changes in consumer prices in the locale of the Reserve.
CPI Adjustment. (A) The amount of annual Zone Compensation set forth in Section I. of this Appendix D and the amounts of Street Pole Compensation set forth in Section II. of this Appendix D, shall be subject to adjustment (the “CPI Adjustment”) every year on each anniversary of the Effective Date by multiplying the dollar amounts set forth in said Sections I. and II. by the greater of (x) the result of dividing the CPI as of such anniversary by the CPI as of the Effective Date, or (y) 1. Thus for example, with respect to the adjustment of the Zone Compensation dollar amount set forth in Section I. of this Appendix D above, if the CPI is 124 on the Effective Date, 127 on the first anniversary of the Effective Date and 128 on the second anniversary of the Effective Date, then the Zone Compensation due and payable on such first anniversary of the Effective Date will be the product of $100,000 multiplied by 127/124, rounded to the nearest dollar, and the Zone Compensation due and payable on such second anniversary of the Effective Date will be the product of $100,000 multiplied by 128/124, rounded to the nearest dollar.
CPI Adjustment. (a) On 1 January of each Year (commencing in the year set out in the relevant Commercial Terms Schedule), all of the rates and charges set out in the Commercial Terms Schedules will be adjusted by multiplying them by the Escalation Factor for that year, and the relevant Schedules will be deemed to have been varied to incorporate the adjusted rates and charges.
(b) The Escalation Factor for each year is calculated as: 1 + ((CPIa - CPIb) / CPIb) where:
(i) CPIa means CPI in respect of the September Quarter immediately preceding the relevant adjustment date;
(ii) CPIb means CPI in respect of the September Quarter that is 12 months before the quarter to which CPIa relates;
(iii) if CPIa is less than CPIb, then ((CPIa-CPIb) / CPIb) is deemed to be zero; and
(iv) CPI means the consumer price index (weighted average for 8 capital cities, all groups) published from time to time by the Australian Bureau of Statistics or if that index is suspended or discontinued or if the basis of assessment is changed so that it no longer accurately reflects changes in the prevailing levels of prices substantially in the same manner as it did prior to the change in basis, then an alternative index that reflects movements in the cost of living in all of the capital cities of Australia will be selected by Service Provider and substituted for the relevant index for the period of the suspension or, in the case of a discontinuance of the CPI or a material alteration in its calculation, on a permanent basis and the calculation of the adjustments to be made under clause 18.2(a) will be made using such alternative index as though it was the CPI.
