RENT INDEXATION. Once a year, on the anniversary date of the coming into force of the lease, the rent will be adjusted to the cost of living based on the fluctuations of the "health" index according to the following formula: New rent = base rent x new index Base index The base rent is the one set in article 3. The new index is the index of the month preceding the anniversary of the entering into force of the lease. The base index is the "health" index for the month preceding the month in which the lease agreement was entered into, that is to say the index for the month of August 2018, to wit ................... (base 2013 - health index). The index in question is the index designated and calculated in accordance with the legislation. It is available on the website of the FPS Economy: xxxx://xxxxxxx.xxxx.xx/fr/statisitques/chiffres/economie/prix_consommation/indices_prix_consommation Art 5 LEVIES All taxes and duties of any kind levied directly or indirectly on the leased property (such as the tax on waste removal) are payable by the lessee, except for the property tax which is payable by the lessor. The lessee undertakes not to use all or part of the leased property, without the prior written authorization of the lessor, for any professional activity, any commercial activity likely to fall within the scope of the law on commercial leases being otherwise formally proscribed. If the lessee allocates all or part of the leased property for professional or commercial purposes without the agreement of the lessor, the additional tax that may be levied on the lessor due to the use for professional purposes by the lessee will be incumbent on the lessee and will be due at the same time as the rent of the month following the month of the lessor’s request.
RENT INDEXATION. The rent will be readjusted at the end of each annual period, upwards or downwards, ipso jure and without any formality or request, according to annual variations in the French index of rents for tertiary activities (ILAT) published by INSEE (base 100: last quarter 2010). For the first indexation, the annual indexation rate will be calculated on the basis of the base index referred to in Article XVII, and the revision index will be the index for the same quarter of the following year. For subsequent indexations, the base index will be the previous revision index, and the revision index, the strictly corresponding quarterly index for each subsequent year. If this index is not known on the anniversary date of the Lease, the LESSOR may proceed with a provisional indexation based on the last known index. Should the chosen index disappear, or be inapplicable for any reason whatsoever, it will be replaced by the replacement index or, failing that, by any similar index to be determined or, if necessary, reconstituted by an expert appointed to act for both Parties (hereinafter the “Expert”) who will be appointed either by agreement of the Parties, or, failing this, by an order issued at the request of the most diligent Party by the President of the Court of Justice, who, in the event of refusal, departure or impediment of any kind whatsoever, will be replaced in the same manner. In all cases, the Expert will have all the powers of a representative appointed to act for both Parties and its decision will be binding on the Parties and will therefore be final and without recourse. Pending the Expert’s decision, the LESSEE may not defer payment, and shall make a provisional payment upon presentation of the receipt, equal to the amount previously paid, the readjustment taking effect retroactively to the effective date of the revision. The LESSEE expressly acknowledges that the above indexation clause constitutes an essential and determining condition of this Lease, without which it would not have been concluded.
RENT INDEXATION. REVISION:
RENT INDEXATION. According to law, the rent will change every year on the anniversary date of the lease in proportion to the fluctuations in the National Index of Construction Costs published by the National Institution of Statistics and Economic Studies, base 100 for the 4th quarter of 1953. The application of the above index clause can in no case cause the rent to decrease to an amount below the initial rent. For the first year, the index determined in article 30 of the Specific Terms will be compared to the index for the same quarter of the next year. For subsequent years, the index used during the previous re-evaluation and the index for the same quarter of the following year will be compared. If publication of the index selected for the annual indexation ceases, this rent adjustment will be determined using either a legal replacement index or a new index chosen by common accord between the parties. If no accord can be reached, the parties agree to adhere to the decision of a judicial expert assigned by a decree from the President of the Superior Court of Paris upon request of the most diligent party and costs incurred will be shared. This contractual rent indexation is an essential term of the present lease and without which this lease is not accorded. Additionally, the current legal revision outlined in article L145-38 of the business code remains applicable.
RENT INDEXATION. The rent stipulated hereinabove is linked to changes in the index set forth under the Special Terms and Conditions. It is specified that this clause is a contractual indexation and does not refer to the three-yearly review provided for under Articles L 145-37 and L 145-38 of the Commercial Code. The Parties are thus justified in expecting the rent to be reviewed in accordance with the public order provisions of said Articles L145-37 and L145-38 of the Commercial Code. As a result, the rent shall automatically and without any prior formality be increased or reduced each year on the anniversary date of the effective date of the lease to reflect changes in the said index. For the first rent indexation, the base index shall be the one referred to under the special terms and conditions, and the review index shall be that of the same calendar quarter of the following year. For subsequent indexations, the base index shall be the previous review index and the review index shall be that of the same calendar quarter of the following year. It should be noted that the annual rent indexation is an essential and crucial condition of this agreement: where the benchmark index ceases to exist and where the lawmaker fails to automatically replace it with another index, the Parties shall agree to a substitute index and if they do not, the index shall be determined by the President of the Tribunal de Grande Instance (district court) in whose jurisdiction the premises are situated, ruling in emergency proceedings, to whom the matter was referred at the request of the first party to act, with the costs associated with the proceedings shared 50-50 by each of the Parties.
RENT INDEXATION. CG. 5.1. The rent shall be indexed, by right and without any application or request, as of the Effective Date of the Lease, every year on the anniversary date of the Effective Date of the Lease, depending on the variation of the Rental Index for Tertiary Activities (ILAT) as published by INSEE. Said index is acknowledged by the Parties as being directly related to the purpose of this contract. For the first indexation, which must take place upon the anniversary date of the Effective Date, the annual rate of index change shall be calculated as a function of the change in the base index, which shall be the latest index published on the Effective Date of the Lease, and in the revision index, which shall be the index of the same calendar quarter in the following year. For the following indexations, the base index shall be the revision index used for the previous indexation, and the revision index shall be the index of the same calendar quarter in the following year, and this will be repeated during consecutive years. Failure to immediately adjust the rent shall not cause any forfeiture of the rights of the Parties to require retroactively a future application of this provision.
RENT INDEXATION. The parties expressly agree to subject the rent set out in the present terms to an escalation clause. As a result, the rent shall be automatically adjusted, upward or downward, on 1 January of each year, according to the quarterly index of the cost of construction published by the I.N.S.E.E. (French National Statistics Office). The reference index will be the last index published on the date the lease comes into effect. If, on 1 January of each year, the date when the indexation shall be applied, the I.N.S.E.E. index has not been published, the rent shall provisionally be paid at the former rate. A readjustment will be applied on publication of the index, and remaining rent will be retrospectively due from the Lessee. If the chosen index ceases to be published, it will be rightfully replaced by the index that will take its place administratively, via application of the link ratio established to this effect by the government. Failing administrative determination of a replacement index, a new index shall be determined by the parties or, failing agreement between the parties, through arbitration or the courts. If, for any reason, either of the parties were not to claim the benefit of the present clause, paying or cashing the rent at the former rate would not, in any case, be considered as an implicit waiver of the provisions of the indexation. In order to be taken into account, this waiver must result from a written agreement. The parties agree that the indexation clause is an essential and determining provision in their will to enter into a contract, without which the lease would not have been closed. They also agree on its validity for the current lease and its successive renewals.
RENT INDEXATION. As of right, the rent will increase annually on the effective date of the lease in proportion to changes in the national cost of construction index published by the National Institute of Statistics and economic studies, base 100 in the fourth quarter of 1953. For the first year, the index set out in Article 30 of the Special Conditions will be compared with the index for the same quarter of the following year. For subsequent years, the index used in the previous revaluation and the index used for the same quarter of the following year will be compared. If the index chosen for annual indexation ceases to be published, such indexation would be made on the basis either of the legal replacement index or a new index chosen by mutual agreement between the parties. In the absence of agreement, the parties undertake to rely on the decision of the judicial expert appointed by order of the President of the High Court of Paris on the request of the most diligent and expeditious party Shared. This conventional indexation of rent is an essential and decisive condition of this lease, without which it would not have been granted. In addition, the legal revision currently provided for by Article l145-38 of the Commercial Code remains applicable.
RENT INDEXATION. 6.1 The Base Rent is subject to an annual increase of three percent (3%) per year, exclusive of tax and charges on each anniversary date of the Entry Date on to the Premises, or as indicated hereinafter: Month Monthly Base Rent, excluding taxes 1-6 Abatement period 7-12 € 271.250 13-24 € 279.388 25-36 € 287.769 37-48 € 296.402 49-60 € 305.294 61-72 € 314.453 73-84 € 323.887 85-96 € 333.603 97-108 € 343.611 109-120 € 353.920 121-132 € 364.537 133-144 € 375.473
