First Adjustment Date definition
Examples of First Adjustment Date in a sentence
If FAPP equals zero, no adjustment to the Original Purchase Price shall be made for the First Adjustment Date.
The Base Rent (and the corresponding Monthly Installments of Base Rent) set forth at Section 2a shall be adjusted annually (the "Adjustment Date"), commencing on Tenant's First Adjustment Date.
If the Comparison Index for any Adjustment Date is equal to or less than the Comparison Index for the preceding Adjustment Date (or the Base Index, in the case of First Adjustment Date), the Base Rent for the ensuing twelve-month period shall remain the amount of Base Rent payable during the preceding twelve-month period.
With respect to any Loan hereunder, from and after September 14, 2007, and until the day prior to the First Adjustment Date, the Applicable Margin with respect to any Loans shall be at Level II as specified in the grid below.
For example, if the Completion Date of the prior year's Base Rent is May 15th, then the escalator of 1% will be adjusted by multiplying the escalator by 6 months divided 12 months or 50% so that the escalator for the First Adjustment Date would be one-half percent (1/2%).