Common use of CPI Increase Clause in Contracts

CPI Increase. On July 1, 2005 and on each subsequent anniversary of the commencement date of the term of this Lease, the Base Rent payable for the upcoming year shall be increased to an amount equal to the product of the Base Rent for July, 2004 determined under paragraph 4.1 above multiplied by a fraction, the denominator of which shall be the Consumer Price Index (as hereinafter defined) figure published for June, 2004, and the numerator of which shall be the Consumer Price Index figure for June of the adjustment year (provided that such fraction shall not in any event be less than 1). As used herein, the term "Consumer Price Index" shall mean the United States Department of Labor's Bureau of Labor Statistics' Consumer Price Index, All Urban Consumers, All-Items, for the San Francisco-Oakland-San Xxxx area (1982-84=100), or the successor of such index, or if no successor index is designated, then such other index as Landlord reasonably shall designate. Should Landlord lack sufficient data to make the determination specified herein on the date of any such adjustment, Tenant shall continue to pay the monthly rent payable immediately prior to such adjustment date. As soon as Landlord obtains the necessary data, it shall determine the rent payable from and after such adjustment date and shall notify Tenant of the adjustment in writing. Should the monthly rent for the period following such adjustment date exceed the amount previously paid by Tenant for such period, Tenant shall forthwith pay the difference to Landlord.

Appears in 2 contracts

Samples: Lease (Radnor Holdings Corp), Radnor Holdings Corp

AutoNDA by SimpleDocs

CPI Increase. On July 1, 2005 1998 and on each subsequent each anniversary ------------ of the commencement date of the term of this Lease, the Base Rent base rent payable for the upcoming year shall be increased to an amount equal to the product of the Base Rent for July, 2004 determined under paragraph 4.1 above initial base rent of $13,330 multiplied by a fraction, the denominator of which shall be the Consumer Price Index (as hereinafter defined) figure published for June, 2004June 1997, and the numerator of which shall be the Consumer Price Index figure for June of the adjustment year (provided that such fraction shall not in any event be less than 1). As used herein, the term "Consumer Price Index" shall mean the United States Department of Labor's Bureau of Labor Statistics' Consumer Price Index, All Urban Consumers, All-Items, for the San Francisco-Francisco- Oakland-San Xxxx area (1982-84=100), or the successor of such index, or if no successor index is designated, then such other index as Landlord reasonably shall designate. Should Landlord lack sufficient data to make the determination specified herein on the date of any such adjustment, Tenant shall continue to pay the monthly rent payable immediately prior to such adjustment date. As soon as Landlord obtains the necessary data, it shall determine the rent payable from and after such adjustment date and shall notify Tenant of the adjustment in writing. Should the monthly rent for the period following such adjustment date exceed the amount previously paid by Tenant for such period, Tenant shall forthwith pay the difference to Landlord.

Appears in 1 contract

Samples: Styrochem International Inc

CPI Increase. On July 1, 2005 1998 and on each subsequent anniversary of ------------ the commencement date of the term of this Lease, the Base Rent base rent payable for the upcoming year shall be increased to an amount equal to the product of the Base Rent for July, 2004 determined under paragraph 4.1 above initial base rent of $30,699 multiplied by a fraction, the denominator of which shall be the Consumer Price Index (as hereinafter defined) figure published for June, 2004June 1997, and the numerator of which shall be the Consumer Price Index figure for June of the adjustment year (provided that such fraction shall not in any event be less than 1). As used herein, the term "Consumer Price Index" shall mean the United States Department of Labor's Bureau of Labor Statistics' Consumer Price Index, All Urban Consumers, All-Items, for the San Francisco-Francisco Oakland-San Xxxx area (1982-84=100), or the successor of such index, or if no successor index is designated, then such other index as Landlord reasonably shall designate. Should Landlord lack sufficient data to make the determination specified herein on the date of any such adjustment, Tenant shall continue to pay the monthly rent payable immediately prior to such adjustment date. As soon as Landlord obtains the necessary data, it shall determine the rent payable from and after such adjustment date and shall notify Tenant of the adjustment in writing. Should the monthly rent for the period following such adjustment date exceed the amount previously paid by Tenant for such period, Tenant shall forthwith pay the difference to Landlord.

Appears in 1 contract

Samples: Styrochem International Inc

AutoNDA by SimpleDocs

CPI Increase. On July 1, 2005 1998 and on each subsequent anniversary of ------------ the commencement date of the term of this Lease, the Base Rent base rent payable for the upcoming year shall be increased to an amount equal to the product of the Base Rent for July, 2004 determined under paragraph 4.1 above initial base rent of $28,536 multiplied by a fraction, the denominator of which shall be the Consumer Price Index (as hereinafter defined) figure published for June, 2004June 1997, and the numerator of which shall be the Consumer Price Index figure for June of the adjustment year (provided that such fraction shall not in any event be less than 1). As used herein, the term "Consumer Price Index" shall mean the United States Department of Labor's Bureau of Labor Statistics' Consumer Price Index, All Urban Consumers, All-Items, for the San Francisco-Francisco- Oakland-San Xxxx area (1982-84=100), or the successor of such index, or if no successor index is designated, then such other index as Landlord reasonably shall designate. Should Landlord lack sufficient data to make the determination specified herein on the date of any such adjustment, Tenant shall continue to pay the monthly rent payable immediately prior to such adjustment date. As soon as Landlord obtains the necessary data, it shall determine the rent payable from and after such adjustment date and shall notify Tenant of the adjustment in writing. Should the monthly rent for the period following such adjustment date exceed the amount previously paid by Tenant for such period, Tenant shall forthwith pay the difference to Landlord.

Appears in 1 contract

Samples: Styrochem International Inc

Time is Money Join Law Insider Premium to draft better contracts faster.