ESCALATION OF BASE RENT. The monthly base rent shall be ---------------------------------- increased as of the first day of the calendar month following the first (1/st/) anniversary of the commencement date of this Lease and following every anniversary of the commencement date of this Lease thereafter, during the term and any renewal term of this Lease, by a percentage equal to the percentage increase in the Consumers' Price Index for All Urban Consumers for the Minneapolis/St. Xxxx Metropolitan Area, "All Items" [1982-84 = 100] published by the United States Bureau of Labor Statistics (the "CPIU") between the CPIU last published as of the commencement date of this Lease or the second previous anniversary of the commencement date of this Lease, as the case may be, and the CPIU last published as of the immediately preceding anniversary of the commencement date of this Lease. Such adjusted monthly rent shall be rounded to the nearest One Dollar ($1.00). Should the CPIU be discontinued, or discontinued for the Minneapolis/St. Xxxx Metropolitan Area, a similar figure representative of an overall price average for the Minneapolis/St. Xxxx Metropolitan Area shall be used or the Consumers' Price Index for All Urban Consumers "All Items" for the United States shall be used.
ESCALATION OF BASE RENT. Commencing on May 1, 1994 ("Escalation Date"), and on the first day of each May during the Term thereafter (each a "Subsequent Escalation Date") (each such period from and after the Escalation Date to the date which is one day prior to the next Subsequent Escalation Date being herein defined as an "Escalation Period"), Base Rent per rentable square foot shall be increased for each Escalation Period by an amount equal to Two and Twenty-Five One Hundredths percent (2.25%) multiplied by the difference between (i) Base Rent per rentable square foot, at the rate effective on the day before the applicable Subsequent Escalation Date and (ii) the sum of the Base Year Operating Expenses and the Base Year Real Estate Taxes per rentable square foot. In addition to the foregoing escalation of Base Rent, the Base Rent then in effect shall be increased by One Dollar ($1.00) per rentable square foot at the beginning of the sixth (6th) Lease Year and by Two Dollars ($2.00) per rentable square foot at the beginning of the eleventh (11th) Lease Year. By way of illustration of the foregoing formula, if the sum of Base Year Operating Expenses and Base Year Real Estate Taxes per rentable square foot is Five Dollars ($5.00), then on the Escalation Date Base Rent per rentable square foot will increase to $13.90 per rentable square foot from and after the Escalation Date until the next Subsequent Escalation Date.
ESCALATION OF BASE RENT. 6.3.1 Commencing on May 1, 1994 ("Escalation Date"), and on the first day of May during the Term thereafter (each a "Subsequent Escalation Date") (each such period from and after the Escalation Date to the date which is one day prior to the next Subsequent Escalation Date being herein defined as an "Escalation Period"), subject to Article 6.
ESCALATION OF BASE RENT. (a) At the beginning of and for each Lease Year, as hereinafter defined, commencing with the first month of the second Lease Year, the Annual Base Rent (and the corresponding Monthly Base Rent as defined in Paragraph (6)(a) and set forth in Exhibit “D”) shall be adjusted in accordance with the terms of Exhibit “D”.
(b) As used herein, the term “Lease Year” shall be as defined in Exhibit “D.”
ESCALATION OF BASE RENT. (a) At the beginning of and for each Lease Year, as hereinafter defined, commencing with the first month of the second Lease Year, the annual base rent (and the corresponding monthly base rent as defined in Paragraph (8)(a) and set forth in Exhibit "D") shall be adjusted.
(b) As used herein, the term "Lease Year" means the one year period of time commencing on the first day of the term of this Lease, and each subsequent anniversary of the first day of the term of this Lease, and terminating at midnight of the day preceding the next following anniversary of the first day of the term of this Lease; provided, however, that a different Lease Year may be defined in Exhibit "D."
ESCALATION OF BASE RENT. (a) [Deleted]
(b) As used herein, the term "Lease Year" means the one year period of time commencing on the first day of the term of this Lease, and each subsequent anniversary of the first day of the term of this Lease, and terminating at midnight of the day preceding the next following anniversary of the first day of the term of this Lease; provided, however, that a different Lease Year may be defined in Exhibit "D."
ESCALATION OF BASE RENT. The base annual rent and the monthly installments to be paid hereunder shall be adjusted upward during any lease term, with a minimum annual increase of 4.0%'and a maximum annual increase of 7.0%, by a percentage equal to the percentage increase' if any, in the Consumer Price Index for the San Francisco Oakland metropolitan Area, All Items, 1967 Base = 100, (CPI) issued by the Bureau of Labor Statistics. the base CPI figure for computing any such increase (in excess of the 4.0% minimum increase) shall be the figure published in the Current Labor statistic section of the Monthly Labor Review for the quarter year in which the payment of the base rental commenced hereunder. The escalator CPI figure shall be the last figure so published prior to the lapse of twelve (12) months of the lease term. Any increase in the base rental found to be due because of such increase shall apply to the ensuing months of the lease term subject to like adjustment at twelve (12) month intervals thereafter. If publication of the CPI shall be discontinued, the parties hereto shall substitute any official index published by the U.S. Bureau of Labor Statistics, or successor or similar government agency, as may then be in existence and shall be most nearly equivalent thereto. If the parties shall be unable to agree upon a successor index, the parties shall refer the choice of a successor index to arbitration in accordance with the rules of the American Arbitration Association then in effect.
ESCALATION OF BASE RENT. Not applicable.
ESCALATION OF BASE RENT. The Base Rent shall be increased annually, effective on July 1, 2014 and on each July 1st thereafter during the Extension Term, by an amount equal to two and one-half percent (2.5%) of the escalated Base Rent then in effect, payable as follows: 07/01/13-02/28/14 $ 27.50 $ 6,263.13 * $ 75,157.56 * 03/01/14 - 06/30/14 $ 27.50 $ 12,526.25 $ 150,315.00 07/01/14-06/30/15 $ 28.19 $ 12,840.55 $ 154,086.54 07/01/15-06/30/16 $ 28.89 $ 13,159.40 $ 157,912.74 07/01/16-06/30/17 $ 29.61 $ 13,487.36 $ 161,848.26 07/01/17-06/30/18 $ 30.35 $ 13,824.43 $ 165,893.10 07/01/18-06/30/19 $ 31.11 $ 14,170.61 $ 170,047.26 *Reflects abatement of one-half (1/2) of Base Rent otherwise payable for this period, so long as Client is not in default hereunder.
ESCALATION OF BASE RENT of the Lease is hereby deleted and the following substituted therefor: "Commencing on the first day of the second (2nd) Lease Year and on the first day of each Lease Year thereafter until and including the eighth (8th) Lease Year, the applicable Base Rent (as adjusted by this Section 4.2) shall be increased by an amount equal to two percent (2%) multiplied by the applicable Base Rent (as adjusted by this Section 4.2) payable by Tenant for the immediately preceding Lease Year. On the first day of the ninth (9th) Lease Year and on the first day of each Lease Year thereafter through the expiration of the Term, the Base Rent (as adjusted by this Section 4.2) shall be increased by an amount equal to two and one half percent (2.5%) multiplied by the applicable Base Rent (as adjusted by this Section 4.2) payable by Tenant for the immediately preceding Lease Year."
