Examples of Calculation Year in a sentence
Calculation Year" shall mean the calendar year ending immediately prior to the calendar year in which an Anniversary Date falls.
With respect to any Calculation Year which does not fall entirely within the Term, Tenant shall be obligated to pay as Additional Rent for such Calculation Year only a pro rata share of Additional Rent as hereinabove determined, based upon the number of days of the Term falling within the Calculation Year.
Subject to the provisions of the first sentence of Section 3.2 of the Agreement, if the Earnings AGR for the Calculation Year applicable to an Anniversary Date equals or exceeds six percent (6%), Grantee may, on and after such Anniversary Date, exercise the Option with respect to that percentage of the Anniversary Date Option Amount that corresponds to the Earnings AGR in the following chart.
No portion of the Option shall become exercisable on an Anniversary Date unless the Earnings CGR for the Calculation Year applicable to that Anniversary Date equals or exceeds five percent (5%).
This percentage increase in average operating earnings per share is obtained by comparing the average operating earnings per share for the Company for the five years ending with the Calculation Year, with the same average for the five years ending the year prior to the Calculation Year.