Rental Adjustment definition

Rental Adjustment means an amount equal to the lesser of (a) 2% of the Base Annual Rental in effect immediately prior to the applicable Adjustment Date, or (b) 1.25 multiplied by the product of (i) the percentage change between the Price Index for the month which is two months prior to the Price Index used for the immediately preceding Adjustment Date and the Price Index for the month which is two months prior to the applicable Adjustment Date; and (ii) the then current Base Annual Rental.

Rental Adjustment has the meaning specified in Clause 4 (Rent and Lease Charges) of the applicable Master Lease.

Rental Adjustment means: (a) for the first Adjustment Date, the amount set forth in the Basic Lease Terms table in this Lease multiplied by the then current Base Annual Rental. The change in Price Index shall be calculated as the percentage change between the Price Index for the month which is two months prior to the first Adjustment Date and the Price Index used for the two months preceding the Effective Date in the case of the first Adjustment Date. By way of example, if the Adjustment Date is January 1, 2023, the change in Price Index shall be the percentage change between the Price Index for November 2022 and the Price Index for November 2021; provided, however, in no event shall the Rental Adjustment for the first Adjustment Date exceed five percent (5.00%), and (b) for each Adjustment Date thereafter, an amount equal to three percent (3.00%).

Examples of Rental Adjustment in a sentence

• Tenant shall pay to Landlord each month, at the same time the Monthly Rental Installment is due, an amount equal to one-twelfth (1/12) of the estimated Annual Rental Adjustment.

• Within a reasonable time after the end of each calendar year, Landlord shall prepare and deliver to Tenant a statement showing the actual Annual Rental Adjustment.

• Landlord shall estimate the Annual Rental Adjustment annually, and written notice thereof shall be given to Tenant prior to the beginning of each calendar year.

• Within thirty (30) days after receipt of the aforementioned statement, Tenant shall pay to Landlord, or Landlord shall credit against the next rent payment or payments due from Tenant, as the case may be, the difference between the actual Annual Rental Adjustment for the preceding calendar year and the estimated amount paid by Tenant during such year.

• During the Lease Term (including any Extension Term), on the first Adjustment Date and on each Adjustment Date thereafter, the Base Annual Rental shall increase by an amount equal to the Rental Adjustment; provided, however, that in no event shall Base Annual Rental be reduced as a result of the application of the Rental Adjustment.

More Definitions of Rental Adjustment

Rental Adjustment is defined in Section 5.1 hereof.

Rental Adjustment means (a) on each Adjustment Date during the first five (5) years of the Lease Term, an amount equal to the lesser of (i) 1.50% of the Base Annual Rental in effect immediately prior to the applicable Adjustment Date, and (ii) 1.25 multiplied by the product of (A) the then-applicable One-Year CPI Increase; and (B) the then current Base Annual Rental; and (b) subject to Section 4.03, on each Adjustment Date thereafter, an amount equal to the lesser of (i) 8% of the Base Annual Rental in effect immediately prior to the applicable Adjustment Date, and (ii) 1.25 multiplied by the product of (A) the then-applicable Five-Year CPI Increase and (B) the then current Base Annual Rental.

Rental Adjustment has the meaning set forth in Section 2.06.

Rental Adjustment means, for any period with respect to the Consolidated Net Income of any Acquired Business, without duplication of amounts, the amount by which the Rental Expense deducted in determining the Consolidated Net Income of that Acquired Business for that period would be reduced as a nonrecurring item in a pro forma statement of operations of that Acquired Business for such period prepared in accordance with GAAP.

Rental Adjustment means an amount equal to ten percent (10%) of the Base Annual Rental in effect immediately prior to the applicable Adjustment Date.

Rental Adjustment. The Payment Factor shall be decreased or increased on or prior to the Base Lease Term Commencement Date for any change in the Index as follows: the Payment Factor, converted to an implicit rate shall be adjusted to reflect the difference between the Index Rate and the yield of the Index set forth in the ICE swap rate issued on or closest to the Base Lease Term Commencement Date as determined by Lessor, in its sole discretion.

Rental Adjustment. Suite Adjustment Date: