Escalation Year definition

Escalation Year means each calendar year which shall include any part of the Demised Term.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Escalation Year means each calendar year which shall include any part of the term of this lease.

Escalation Year means (i) with respect to Taxes imposed on a fiscal year basis, any fiscal tax year after 2022/2023 fiscal tax year which shall include any part of the Term; and (ii) with respect to Taxes imposed on a calendar year basis, any calendar year after the 2022 calendar year which shall include any part of the Term.

Examples of Escalation Year in a sentence

• Owner's failure to render an Owner's Operating Expense Statement with respect to any Escalation Year shall not prejudice Owner's right to recover any sums due to Owner hereunder with respect to such Escalation Year.

• Owner shall render to Tenant, either in accordance with the provisions of Article 27 or by personal delivery at the Demised Premises, an Owner's Tax Statement with respect to each Tax Escalation Year, either prior to or during such Tax Escalation Year.

• Owner shall render to Tenant, either in accordance with the provisions of Article 27 or by personal delivery at the Demised Premises, an Owner's Operating Expense Statement with respect to each Escalation Year on or before the next succeeding October 1st.

• If Taxes payable in any Tax Escalation Year shall be in such amount as shall constitute an increase above Owner's Basic Tax Liability, the Fixed Rent for such Tax Escalation Year shall be increased by a sum equal to Tenant's Proportionate Share of any such increase in Taxes.

• In the event that Base Operating Expenses shall be in excess of Operating Expenses in any Escalation Year, in no event shall Tenant be entitled to any such excess and the Fixed Rent shall not be reduced in any way.

More Definitions of Escalation Year

Escalation Year means each calendar year, commencing with the first full calendar year following the calendar year in which the Commencement Date occurs, falling, in whole or in part, within the Term.

Escalation Year means any Tax Year during the term of this Lease commencing with Tax Year commencing July 1, 2005.

Escalation Year means each calendar year, commencing with the calendar year in which the commencement date of the Term occurs, falling, in whole or in part, within the Term.

Escalation Year. Each 12-month period commencing on March 1 which shall include any part of the Term.

Escalation Year means each Lease Year following the third Lease Year.

Escalation Year means Escalation Year as defined in Section 5.1(d).

Escalation Year means the period from Commencement Date to and including the last day of the calendar month in which the day immediately preceding the first anniversary of the Commencement Date shall occur and each succeeding period of twelve (12) months thereafter. For the second (2nd) and each succeeding Escalation Year, Tenant shall pay to Owner, as additional rent, and in addition to any other sums payable pursuant to this Lease, an annual amount obtained by use of the following formula: