RENT OR RENTAL RATE ADJUSTMENT. (1) Rents and fees shall be subject to adjustment by the Borough on each anniversary date of the commencement of this Sublease for the length of the Sublease Term. (2) Rent and fee adjustments will be based on increases in the National Consumer Price Index (CPI) for the twelve (12) month period preceding the anniversary date of this Sublease. (3) The Borough shall give the Sublessee at least sixty (60) days written notice and amend this Sublease at least thirty (30) days prior to the effective date of a rent or fee adjustment. (4) Rent or fee rate increases shall not exceed ten percent (10%) of the current rent or fee rates. (5) Rates and charges can be changed at any time by changes to the Ketchikan Gateway Borough Code of Ordinances.
Appears in 3 contracts
Samples: Land Terminal Sublease & Airline Operating Agreement, Land Terminal Sublease & Airline Operating Agreement, Land Terminal Sublease & Airline Operating Agreement
RENT OR RENTAL RATE ADJUSTMENT. (1) Rents and fees shall may be subject to adjustment by the Borough on each anniversary date of the commencement of this Sublease for the length of the Sublease Term.
(2) Rent and fee adjustments will be based on increases in the National Consumer Price Index (CPI) for the twelve (12) month period preceding the anniversary date of this Sublease.
(3) The Borough shall give the Sublessee at least sixty (60) days written notice and amend this Sublease at least thirty (30) days prior to the effective date of a rent or fee adjustment.
(4) Rent or fee rate increases shall not exceed ten percent (10%) of the current rent or fee rates.
(5) Rates and charges can be changed at any time by changes to the Ketchikan Gateway Borough Code of Ordinances.
Appears in 2 contracts
Samples: Land Terminal Sublease & Airline Operating Agreement, Land Terminal Sublease & Airline Operating Agreement
