Cost Escalation definition

Cost Escalation means a proxy formula agreed upon by the Parties to share the risk of inflation following the completion of the Order of Magnitude Preliminary Cost Estimates carried out on certain City Delivered Works in Q1 2020. The Cost Escalation will be calculated by taking the Order of Magnitude Preliminary Cost Estimate and adjusting it in direct proportion to the change in the index published from time to time by Statistics Canada as its Building construction price indexes data table, Table 18-10-0135-01 for Non-residential buildings [622] for Vancouver between January 1, 2020 and the date of full occupancy of the Phase Which Triggers Start of Work or the actual date of total completion of each City Delivered Works Project, whichever is earliest;
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Examples of Cost Escalation in a sentence

  • If, with respect to Operating Cost Escalation, as established in Article 23(a) hereof, and Utility and Energy Cost Escalation, as established in Article 23(b) hereof, the Building is less than ninety-five percent (95%) occupied during the establishment of the respective Base Periods, then the Base Costs incurred with respect to said Operating Cost or Utility and Energy Cost shall be adjusted during any such period within the Base Period so as to reflect ninety-five percent (95%) occupancy.

  • If, with respect to Operating Cost Escalation, as established in Subsection 25(A) hereof, and Utility and Energy Cost Escalation, as established in Subsection 25(B) hereof, the Building is not ninety-five (95%) percent occupied during the establishment of the respective Base Period Costs, then the Base Period Costs incurred with respect to said Operating Cost or Utility and Energy Cost shall be adjusted during any such period so as to reflect ninety-five (95%) percent occupancy.

  • Notwithstanding the above calculation, in no event shall Operating Cost Escalation be less than zero.

  • Tenant’s Operating Cost Escalation shall be estimated in good faith by Landlord at the beginning of each calendar year, and thereafter be payable in equal estimated monthly installments, together with the Base Rent, subject to readjustment from time to time, but not more frequently than once in any calendar year, as reasonably determined by Landlord and also when actual Operating Costs are determined.

  • Tenant shall pay to Landlord, as Additional Rent, an amount equal to Tenant’s Operating Cost Escalation.

  • Tenant’s Operating Cost Escalation for fiscal year 2015 is estimated to be approximately $9.63 per rentable square foot.

  • Tenant’s Tax Escalation, Tenant’s Operating Cost Escalation, Water Service Charge and/or Tenant’s Electricity Costs and all other sums (other than Base Rent) payable by Tenant to Landlord under this Lease.

  • Tenant shall pay to Landlord, as Additional Rent, Operating Cost Escalation (as defined below) on or before the 10th day following receipt by Tenant of Landlord's Operating Cost Statement (as defined below).

  • With respect to the First Fiscal Year for Tenant's Paying Operating Cost Escalation, or fraction thereof, and any Fiscal Year or fraction thereafter during the Term, Tenant shall pay to Landlord, as additional rent, Operating Cost Escalation (as defined below), if any, on or before the thirtieth day following receipt by Tenant of Landlord's Statement (as defined below).

  • Tenant shall pay to Landlord, as Additional --------------------------- Rent, an amount equal to Tenant's Operating Cost Escalation.