VALUE ASSURANCE CLAUSE Sample Clauses

VALUE ASSURANCE CLAUSE. The lessee and the lessor agree that the purchasing value of the agreed main rent and any other fees shall be retained. Therefore, the following value assurance agreement is concluded: 5.1. The main rent and all other charges in accordance with 4.1. and 4.2 are hedged according to the Consumer Price Index 2015 (CPI 2015) or any index replacing it. 5.2. The respective monthly main rent including all other fees changes in each case to the extent that the index figure announced for January of a year changes in comparison with the index figure announced for January of the previous year. The lessor is entitled to retroactively adjust the main rent due to changes in the index with effect from 01/01 of each year. For the initial value adjustment in accordance with this provision, the starting point shall be the difference between the announced value of the CPI 2015 for the month of January 2018 and the announced value of the CPI 2015 for the month of January 2019. The initial value adjustment of the main rent will therefore be retroactive to 01/01/2019. 5.3. If the announcement of the consumer price index is discontinued by Statistik Austria, this index shall be replaced by a comparable (chained) index; in the absence of such an index, the contracting parties shall agree by mutual agreement on a corresponding replacement index that corresponds as closely as possible to the principles that were most recently used to calculate the index. 5.4. If no valorisation is carried out, this shall not be understood to mean a waiver of the application of the indexation on the part of the lessor. Rather, the lessor is entitled to retroactively charge such amounts for up to 3 years.