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Common use of CPI Adjustment Clause in Contracts

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;

Appears in 6 contracts

Samples: Lease Agreement (Hometown Auto Retailers Inc), Lease Agreement (Hometown Auto Retailers Inc), Lease Agreement (Hometown Auto Retailers Inc)

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), providedPROVIDED, howeverHOWEVER, that the CPI Factor shall never be less than 1.00. As used herein, the "CPI FactorFACTOR" 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 "indexINDEX" (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;

Appears in 1 contract

Samples: Lease (Hometown Auto Retailers Inc)