Common use of Increase in Payments Clause in Contracts

Increase in Payments. Simultaneously with the commencement of each and every Renewal Term, if any, hereunder, each Agreement Payment set forth in this Agreement shall be automatically adjusted (without any action or notice by Venture) by an amount equal to the percentage increase in the CPI (as defined below) during the preceding twenty-four (24) months. The “CPI” is defined as the Consumer Price Index for all Urban Consumers, U.S. City Average, All Items (1982-1984 = 100) for the United States published by the Bureau of Labor Statistics of the U.S. Department of Labor, and if the CPI is discontinued, the successor index most nearly comparable thereto.