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.
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.
Figure 1 illustrates the estimated location of the seawater intrusion front, using the Historic Method threshold for seawater intrusion (i.e. allowing seawater to intrude farther inland than current extents) for Zones D and E, as well as the 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).
The Cooperative paid all of the rent increases as calculated by the Pedas Group and Lenkin Company Management, which shows that the Cooperative accepted the Pedas Group’s use of the alternative Historic Method for calculating rent increases.
Specifically, the 2000 and 2005 letters3 notifying the Cooperative of rental increases explained how the Pedas Group and Lenkin Company Management calculated its rental increase using the Historic Method formula.4 These letters show, in my view, that the Pedas Group did not employ the Historic Method by mistake, but that instead it was an intentional deviation from the rent escalation formula found in the lease agreement.
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.
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.
At the very least, the Cooperative and the Pedas Group’s decades-long use of the Historic Method constitutes “part performance” which precludes application of the statute of frauds.
At the September 29th BMC Meeting, the BMC directed staff to calculate Sustainable Yield2022 estimates using the Historic Method threshold for seawater intrusion—which allows seawater to intrude farther inland before stabilizing—and proposed Adaptive Method threshold for seawater intrusion‐ which limits seawater intrusion in the Sustainable Yield calculations to current extents—and provide them to the BMC for consideration.
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 .