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 is defined in Section 5.1 hereof.
Examples of Rental Adjustment in a sentence
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 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%).
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. “Requisition” means any temporary requisition or confiscation of the use or occupancy of any of the Properties by any Governmental Authority, civil or military, whether pursuant to an agreement with such Governmental Authority in settlement of or under threat of any such requisition or confiscation, or otherwise. “Reserve” has the meaning in Section 6.04. “Securities” has the meaning set forth in Section 18.10. “Securities Act” means of the Securities Act of 1933, as amended. “Securitization” has the meaning set forth in Section 18.10. “Sublease” has the meaning set forth in Section 14.04. “Successor Lessor” has the meaning set forth in Section 13.03. “Taking” means (a) any taking or damaging of all or a portion of the Properties (i) in or by condemnation or other eminent domain proceedings pursuant to any Law, general or special; or (ii) by reason of any agreement with any Governmental Authority condemnor in settlement of or under threat of any such condemnation or other eminent domain proceeding; or (b) any de facto condemnation. The Taking shall be considered to have taken place as of the later of the date actual physical possession is taken by the condemnor, or the date on which the right to compensation and damages accrues under the Law applicable to the Properties. “Temporary Taking” has the meaning set forth in Section 11.04. “Threatened Release” means a substantial likelihood of a Release which requires action to prevent or mitigate damage to the soil, surface waters, groundwaters, land, stream sediments, surface or subsurface strata, ambient air or any other environmental medium comprising or surrounding any Property which may result from such Release. “Total Condemnation” has the meaning set forth in Section 11.02. “Transaction” has the meaning set forth in Section 14.01. “Transaction Documents” means this Lease, and all documents related thereto. “U.S. Publicly Traded Entity” means an entity whose securities are listed on a national securities exchange or quoted on an automated...
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 an amount equal to 17.2% of the Base Annual Rental in effect immediately prior to the applicable Adjustment Date I.
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. 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.