Common use of Rent Escalation Clause in Contracts

Rent Escalation. (a) As used in this Article 7, the term "Lease Year" shall mean the twelve month period commencing on the Rental Commencement Date, or, if the Rental Commencement Date is not on the first day of a calendar month, commencing on the first day of the first calendar month following the Rental Commencement Date, and each successive twelve month period thereafter during the Lease Term. The term "Subsequent Year" shall mean each Lease Year of the Lease Term following the first Lease Year. The term "Prior Year" shall mean the Lease Year prior to each Subsequent Year. The term "Index" shall mean the Consumer Price Index for all Urban Consumers (U.S. City Average; Base 1982-84=100), published by the Bureau of Labor Statistics of the United States Department of Labor. The term "Base Month" shall mean the calendar month which is two (2) months prior to the month during which this Lease is fully executed by Landlord and Tenant. The term "Comparison Month" shall mean the calendar month which is two (2) months prior to the first full month of each Subsequent Year in question.

Rent Escalation. (a) As used in this Article 7, the term "“Lease Year" ” shall mean the twelve month period commencing on the Rental Commencement Date, or, if the Rental Commencement Date is not on the first day of a calendar month, commencing on the first day of the first calendar month following the Rental Commencement Date, and each successive twelve month period thereafter during the Lease Term. Term- The term "“Subsequent Year" ” shall mean each Lease Year of the Lease Term following the first Lease Year. The term "“Prior Year" ” shall mean the Lease Year prior to each Subsequent Year. The term "“Index" ” shall mean the Consumer Price Index for all Urban Consumers (U.S. City Average; Base 1982-84=10084-100), published by the Bureau of Labor Statistics of the United States Department of Labor. The term "“Base Month" ” shall mean the calendar month which is two (2) months prior to the month during which this Lease is fully executed by Landlord and Tenant. The term "‘‘Comparison Month" ” shall mean the calendar month which is two (2) months prior to the first full month of each Subsequent Year in question.