Pass-Through Component definition
Examples of Pass-Through Component in a sentence
Provided Tenant has exercised the Additional Surrender Option as aforesaid, upon not less than six (6) months notice to Tenant of the amount thereof, accompanied by reasonable supporting calculations (but not earlier than the first day of the eleventh Lease Year), time being of the essence with respect to such date, Tenant shall pay to Landlord the Pass-Through Component.
The Pass-Through Component is that portion of the Service Fee comprised of the Contractor's Pass-Through Costs.
The Service Fee has four components: the Fixed Component, the Variable Component, the Transport Component and the Pass-Through Component.
The specific annual adjustments shall be made as follows: Adjusted Service Fee = (Fixed Component in Exhibit 1 + (Variable Component) x (current October CPI / previous year October CPI) + (Transport Component) x (((current October CPI / previous year October CPI - 1) x .70) +1) + then-current Pass-Through Component) provided that the then-current Pass-Through Costs shall be verified in accordance with procedures described in Section 8.03(c).
In the case of the periodic Disposal Fee adjustments, Contractor shall submit, no later than October 1st, prior to January 1st in which such changes are to be effective, written verification of the specific costs (listed separately) comprising the then-current Pass-Through Component, and indicate if they have increased, decreased, or remained the same.
Authority shall adjust the Pass-Through Component at a time other than during an annual adjustment period if the adjustment to the Pass-Through Component would result in a Significant adjustment to the Service Fee Pass-Through Component.
The Pass-Through Component is subject to adjustment only as necessary to reflect changes in Pass-Through Costs required by third parties as provided in Section 8.03, or as the result of a Change in Law as provided in Article 9.
The Pass-Through Component as of the Operating Date of this Agreement is provided in Exhibit 1.