Common use of Definition of CPI Clause in Contracts

Definition of CPI. “CPI” means the Consumer Price Index which is designated for the applicable month of determination as the United States City Average for All Urban Consumers, All Items, Not Seasonally Adjusted, with a based period equaling 100 in 1982–1984, as published by the United States Department of Labor’s Bureau of Labor Statistics or any successor agency. In the event that the Consumer Price Index ceases to be published, its successor index as published by the same governmental authority which published the Consumer Price Index shall be substituted and any necessary reasonable adjustments shall be made by Landlord and Tenant in order to carry out the intent of this Lease. In the event there is no successor index, Landlord shall reasonably select an alternative price index that will constitute a reasonable substitute for the Consumer Price Index. “CPI Increase” shall mean the percentage change in the CPI from the month that is two months prior to the immediately preceding Adjustment Date to the CPI for the month that is two months prior to the applicable Adjustment Date. For purposes of calculating the CPI Increase for the January 1, 2017 Adjustment Date, the immediately preceding Adjustment Date shall be considered to be January 1, 2016.

Definition of CPI. “CPI” means the Consumer Price Index which is designated for the applicable month of determination as the United States City Average for All Urban Consumers, All Items, Not Seasonally Adjusted, with a based period equaling 100 in 1982–1984, as published by the United States Department of Labor’s Bureau of Labor Statistics or any successor agency. In the event that the Consumer Price Index ceases to be published, its successor index as published by the same governmental authority which published the Consumer Price Index shall be substituted and any necessary reasonable adjustments shall be made by Landlord and Tenant in order to carry out the intent of this Lease. In the event there is no successor index, Landlord shall reasonably select an alternative price index that will constitute a reasonable substitute for the Consumer Price Index. “CPI Increase” shall mean the percentage change in the CPI from the month that is two months prior to the immediately preceding Adjustment Date to the CPI for the month that is two months prior to the applicable Adjustment Date. For purposes of calculating the CPI Increase for the January 1, 2017 Adjustment Date, the immediately preceding Adjustment Date shall be considered to be January 1, 2016.