PERIODIC RENT INCREASES Sample Clauses

PERIODIC RENT INCREASES a. The monthly rent shall be increased at the commencement of the second year of the term and each year thereafter ("the adjustment date") to the greater of: 1) the monthly rent in effect immediately preceding the adjustment date plus four percent (4%); or 2) the monthly rent as adjusted for the change in the Consumer Price Index (CPI), as calculated below. b. The base for computing the CPI adjustment is the Consumer Price Index for all Urban Consumers (base years 1982-1984 = 100) for San Francisco-Oakland-San Xxxx, published by the U.S. Department of Labor, Bureau of Labor Statistics ("Index"), which is in effect on the date of the commencement of the term ("Beginning Index"). The Index published most immediately preceding the adjustment date in question ("Extension Index") is to be used in determining the amount of the CPI adjustment. If the Extension Index has increased over the Beginning Index, the CPI adjustment shall be calculated by multiplying the monthly rent by a fraction consisting of the Extension Index as the numerator and the Beginning Index as the denominator. If the Index is discontinued or revised during the term, such other government index or computation with which it is replaced shall be used in order to obtain substantially the same result as would be obtained if the Index had not been discontinued or revised.
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PERIODIC RENT INCREASES a. The monthly rent shall be increased at the commencement of the third year of the Term (May 1, 2025) and each year thereafter ("the adjustment date"). The adjusted monthly rent will be calculated by adding three percent (3%). Monthly rent increases based on the annual 3% adjustment have been calculated and are further described in Exhibit C, attached to and made a part of this Lease.
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PERIODIC RENT INCREASES. The monthly rent shall be increased at the commencement of the second year of the term and each year thereafter ("the adjustment date") by three percent (3%). The following table list the amount due for each year of the initial term: TIME PERIOD ANNUAL RENTAL Year 1 March 1, 2023 – February 29, 2024 $1,671.00 Year 2 March 1, 2024 – February 28, 2025 $1,721.13 Year 3 March 1, 2025 – February 28, 2026 $1,772.76 Year 4 March 1, 2026 – February 28, 2027 $1,825.95 Year 5 March 1, 2027 – February 29, 2028 $1,880.73 Year 6 March 1, 2028 – February 28, 2029 $1,937.15 Year 7 March 1, 2029 – February 28, 2030 $1,995.26 Year 8 March 1, 2030 – February 28, 2031 $2,055.12 Year 9 March 1, 2031 – February 29, 2032 $2,116.77 Year 10 March 1, 2032 – February 28, 2033 $2,180.28 Rent shall be payable in advance on the first (1st) day of the month of each year of the Term of this Lease and paid to City of Berkeley at the address to which notices to Landlord are given.
Sample 1
PERIODIC RENT INCREASES. Upon exercise of the Option at the expiration of the Term, the amount due as Basic Rent under Section 3.1 shall be increased by a percentage equal to the cumulative percentage increase in the Consumer Price Index, U.S. City Average, All Urban Consumers (1982-84=100), as published by the United States Department of Labor's Bureau of Labor Statistics, that has occurred during the preceding five (5) years; provided, however, that the increase for each year cumulated shall be no less than one percent (1%) and no more than five percent (5%).
Sample 1
PERIODIC RENT INCREASES a. The monthly rent for the initial five-year lease term is as follows: Year 2: $818.40 per month Year 3: $818.40 per month Year 4: $920.70 per month Year 5: $920.70 per month b. The monthly rent shall be increased at the commencement of the fourth year of the term and any each year thereafter ("the adjustment date") to 1) the amount indicated in section 4.a of this lease, if any; or 2) the monthly rent in effect immediately preceding the adjustment plus four percent (4%); or3) the monthly rent as adjusted for the change in the Consumer Price Index (CPI), as calculated below. c. The base for computing the CPI adjustment is the Consumer Price Index for all Urban Consumers (base years 1982-1984 = 100) for San Francisco-Oakland-San Xxxx, published by the U.S. Department of Labor, Bureau of Labor Statistics ("Index"), which is in effect on the date of the commencement of the term ("Beginning Index"). The Index published most immediately preceding the adjustment date in question ("Extension Index") is to be used in determining the amount of the CPI adjustment. If the Extension Index has increased over the Beginning Index, the CPI adjustment shall be calculated by multiplying the monthly rent by a fraction consisting of the Extension Index as the numerator and the Beginning Index as the denominator. If the Index is discontinued or revised during the term, such other government index or computation with which it is replaced shall be used in order to obtain substantially the same result as would be obtained if the Index had not been discontinued or revised. The adjusted yearly rent increase shall not exceed 7%.
Sample 1
PERIODIC RENT INCREASES a. The monthly rent for the initial lease term is $920.70 per month. b. The monthly rent during the Option Period shall be increased pursuant to section 32 of this lease.
Sample 1

Related to PERIODIC RENT INCREASES

  • Rent Increases The Rent payable shall not be increased or otherwise modified during the Term of this Lease. Any increase in Rent shall only take effect after the expiration of the Term provided in this Lease. Any increase in Rent to take effect upon renewal or extension of the Term of this Lease must be preceded by a - day notice of the same from the Landlord to the Tenant.

  • RENT INCREASE 6.1 The Landlord is entitled to increase the Rent payable under this tenancy, either during the Tenancy Term or any subsequent renewal or periodic term, on each anniversary of the start date of this tenancy (“The Rent Increase Date”). The increase will be a minimum 5% in addition to the current Rent payable. Should the Landlord elect to do so they will first serve written notice on the Tenant in accordance with these Tenancy Terms and Conditions of at least one calendar month prior to the Rent Increase Date (“the Rent Increase Notice”). 6.2 If the Landlord chooses not to increase the Rent on the Rent Increase Date they may defer doing so to any date thereafter provided they shall at any time thereafter be entitled to serve a Rent Increase Notice and the said rent increase shall take effect on the expiry of such notice – the Landlord will not be entitled to then increase the rent in this way for another 12 months.

  • Merit Increases (a) Subject to documented assessment and performance review undertaken pursuant to the Performance Management System, an employee on anniversary date may be granted an increase of up to five pay increments in the pay scale, not to exceed the control point maximum. (b) The Employer shall notify the employee in writing when an annual increment(s) is not granted or when an annual increment of less than two (2) increments is granted. Such notice shall contain the Employer’s reason(s) as to why the employee’s work performance was not satisfactory. (c) An employee who has not been granted a merit increase shall have the right to refer their performance evaluation to the Director of Human Resources or designate for review by the Review Committee that has been established in the employing department. The employee shall have the right to make written submission to the Review Committee. (d) At the discretion of the Deputy Head, anniversary date merit increases, or portions thereof may be delayed and granted at a subsequent date, without change to the employee’s anniversary date. (e) Where an employee is not granted a pay increment(s) due to an omission or error, the employee shall be granted the increase on a subsequent date, retroactive to their anniversary date for such increment(s). (f) The number of merit increase pay increments granted for part-time or seasonal employees should be pro-rated or delayed in relation to length or work periods. Merit increase pay increments for part-time employees shall be determined in accordance with Article 33.03. (g) Employees paid at or above the control point maximum of the pay range are ineligible for merit increases. (h) It is understood by the parties that clause 14.11 does not apply to scheduled work planning and review or performance appraisal meetings.

  • Fee Increases S&P reserves the right to increase its fees under this Order Schedule effective on the anniversary of the Commencement Date by providing at least sixty (60) days advance written notice to Licensee prior to the expiration of the Term then in effect.

  • Rate Increases In the event that this Agreement is renewed pursuant to Section 3.1.2, the rate set forth in Exhibit “C” may be adjusted each year at the time of renewal as set forth in Exhibit “C.”

  • Step Increases (a) The following is the method used to determine service credit, since the last date of hire, for purposes of positioning on the salary range: i) all continuous service shall be retained and transferred with the employee if she/he changes her/his status from full-time to part- time and vice versa. ii) a part-time employee who changes status to full-time will be given credit on the basis of fifteen hundred (1500) paid hours of part- time being equivalent to one (1) year of full-time service and vice versa. iii) in addition, an employee who is so transferred will be given credit for paid hours accumulated since the date of last advancement. (b) Annual increments for full-time employees shall be paid on their anniversary date. (c) Annual increments for part-time employees shall be paid on the completion of each fifteen hundred (1500) hours worked.

  • Pay Increases The District shall make a lump sum payment of an agreed-upon retroactive wage increase resulting from this contract or any amendments thereto within ninety (90) days of the agreement between the District and the Association.

  • Wage Increases The wage rates in this Agreement will only be increased in accordance with any increases which may be awarded by the Australian Fair Pay Commission through wage reviews. The level of any increases will be such that the percentage wage increase as set out in Clause 15 of this agreement will be maintained. No additional increases in wage rates will apply to the rate of pay in Clause 15 of this Agreement while it is in operation.

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