Common use of INCREASE IN INITIAL BASE RENT Clause in Contracts

INCREASE IN INITIAL BASE RENT. Beginning on January 1, 1999 and on each January 1 thereafter through and including January 1, 2003, the Annual Base Rent will increase by the lesser of (i) three percent (3%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year (the "Base Rent Escalator"). If Landlord provides Tenant with the Bunker Repair Funds as provided in Section 11.5, Annual Base Rent shall increase by an amount that is 10.5% of the Bunker Repair Funds. In addition, if the Annual Base Rent is increased as provided in Section 4.5, then the Base Rent Escalator shall continue to apply to each of the five (5) years following such increase, with the increase effective on the anniversary of the increase in Base Rent as provided in Section 4.5 in lieu of increases on January of each year.

INCREASE IN INITIAL BASE RENT. Beginning on January 1, 1999 1998 and on each January 1 thereafter through and including January 1, 2003, the Annual Base Rent will increase by the lesser of (i) three percent (3%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year (the "Base Rent Escalator"). If Landlord provides Tenant with ; provided the Bunker Repair Funds as provided January 1, 1998 increase shall be pro rated for the number of days in Section 11.5, Annual the Lease Term in 1997 divided by 365 and multiplied by the applicable Base Rent shall increase by an amount that is 10.5% of the Bunker Repair FundsEscalator. In addition, if the Annual Base Rent is increased as provided in Section 4.5, then the Base Rent Escalator shall continue to apply to each of the five (5) years following such increase, with the increase effective on the anniversary of the increase in Base Rent as provided in Section 4.5 in lieu of increases on January of each year.

INCREASE IN INITIAL BASE RENT. Beginning on January 1, 1999 1998 and on each January 1 thereafter through and including January 1, 20032002, the Annual Base Rent will increase by the lesser of (i) three percent (3%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year (the "Base Rent Escalator"). If Landlord provides Tenant with ; provided the Bunker Repair Funds as provided January 1, 1998 increase shall be pro rated for the number of days in Section 11.5, Annual the Lease Term in 1997 divided by 365 and multiplied by the applicable Base Rent shall increase by an amount that is 10.5% of the Bunker Repair FundsEscalator. In addition, if the Annual Base Rent is increased as provided in Section 4.5, then the Base Rent Escalator shall continue to apply to each of the five (5) years following such increase, with the increase effective on the anniversary of the increase in Base Rent as provided in Section 4.5 in lieu of increases on January of each year.

INCREASE IN INITIAL BASE RENT. Beginning on January 1, 1999 and on each January 1 thereafter through and including January 1, 2003, the Annual Base Rent will increase by the lesser of (i) three four percent (34%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year (the "Base Rent Escalator"). If Landlord provides Tenant with ; provided the Bunker Repair Funds as provided January 1, 1998 increase shall be pro rated for the number of days in Section 11.5, Annual the Lease Term in 1997 divided by 365 and multiplied by the applicable Base Rent shall increase by an amount that is 10.5% of the Bunker Repair FundsEscalator. In addition, if the Annual Base Rent is increased as provided in Section 4.5, then the Base Rent Escalator shall continue to apply to each of the five (5) years following such increase, with the increase effective on the anniversary of the increase in Base Rent as provided in Section 4.5 in lieu of increases on January of each year.