Examples of Historic Method in a sentence
Here, although the plain language of the lease favors Chromium’s interpretation, the long-standing, multi-decade conduct between first the Cooperative and M & 23rd Partnership, and later the Cooperative and the Pedas Group favors the Cooperative’s position that the parties must have intended, by their actions, to apply the Historic Method.
Historic Method Sustainable Yield Calculation (100% Broderson Mound development) Figure 2 illustrates the estimated location of the seawater intrusion front, using the Adaptive Method threshold for seawater intrusion (i.e. limiting intrusion to current extents) for Zones D and E, as well asthe anticipate location of the seawater intrusion front if pumping within the Basin was limited to 80% of the Sustainable Yield estimate (i.e. BYM 80).
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As of 31/12/2012, Velcan Energy:• Has built and operates its first hydro power plant in Brazil (15 MW)• Owns the rights to more than 600 MW of concessions and projects in India, Brazil and Laos (group share)• Has an agreement with Laos government in order to co-develop 300 MW in Laos• Is prospecting Indonesia on an advanced stage Velcan Energy’s technical team is composed of industry veterans and is one of the most experienced in the construction and operation of hydroelectric plants worldwide.
Third, the Cooperative argues that the rent escalation clause is ambiguous because the Historic Method is more consistent with formulas commonly used at the time the lease was executed, and makes more sense given that the lease requires the tenant to pay for all operating and maintenance costs for the tenant’s portion of the building (thereby providing the landlord with “inflation protection”).
Bilaal, 983 A.2d 349, 355 (D.C. 2009).to its signing.2 The Pedas Group utilized the Historic Method to calculate rental increases, which were “memorialized in a series of rent adjustment letters issued on behalf of the landlord in 1991, 1995, 2000, and 2005.” The Cooperative further accepted the Historic Method formula for calculating rent increases by paying the increased rent as calculated by the Pedas Group.
The court also alluded to the fact that use of the Historic Method was intentional on the part of the Lenkins because the Lenkins were on both sides of the initial transaction and that “[t]he evidence here supports the finding that Edward Lenkin, either himself or through his agent, set out a brief and simple formula to escalate rent payments in incremental terms,” which the court characterized as a “near thirty year misapplication of the formula while Edward Lenkin was managingboth sides of the contract .
In framing this dispute, the trial court found, as a factual matter, that the Pedas Group and the Cooperative had employed the Historic Method for calculating rental increases for nearly thirty years.
Accordingly, we should construe the parties’ long-standing conduct of calculating rent increases using the Historic Method as demonstrating their mutual assent to a change in the formula forcalculating rental increases that resulted in a modified and essentially new contract.
Lenkin Company Management used the Historic Method to calculate rent escalations in 1991, 1995, 2000, and 2005.6 In November 2007, Chromium acquired the property and assumed the responsibilities of the Pedas Group under the lease.