Rental Adjustment definition

Rental Adjustment means an amount equal to the lesser of (a) 2% of the Base Annual Rental in effect immediately prior to the applicable Adjustment Date, or (b) the product of (i) the percentage change between the Price Index for the month which is two months prior to the Effective Date or the Price Index used for the immediately preceding Adjustment Date, as applicable, and the Price Index for the month which is two months prior to the applicable Adjustment Date; and (ii) the then current Base Annual Rental.

Rental Adjustment has the meaning specified in Clause 4 (Rent and Lease Charges) of the applicable Master Lease.

Rental Adjustment means an amount equal to the lesser of (a) 2% of the Base Annual Rental in effect immediately prior to the applicable Adjustment Date, or (b) 1.25 multiplied by the product of (i) the percentage change between the Price Index for the month which is two months prior to the Price Index used for the immediately preceding Adjustment Date and the Price Index for the month which is two months prior to the applicable Adjustment Date; and (ii) the then current Base Annual Rental.

Examples of Rental Adjustment in a sentence

• During the Lease Term (including any Extension Term), on the first Adjustment Date and on each Adjustment Date thereafter, the Base Annual Rental shall increase by an amount equal to the Rental Adjustment; provided, however, that in no event shall Base Annual Rental be reduced as a result of the application of the Rental Adjustment.

• Tenant shall pay to Landlord each month, at the same time the Monthly Rental Installment is due, an amount equal to one-twelfth (1/12) of the estimated Annual Rental Adjustment.

• Such payments shall be made in monthly installments, commencing on the first day of the month following the month in which Landlord notifies Tenant of the amount it is to pay hereunder and continuing until the first day of the month following the month in which Landlord gives Tenant a new notice of the estimated Rental Adjustment.

• If such total of estimated payments made exceeds the actual Rental Adjustment for such Adjustment Period, then Tenant shall receive a credit for the difference against payments of Rent next due.

• If Tenant retains possession of the Leased Premises after the expiration or earlier termination of this Lease, Tenant shall be a tenant at sufferance at one hundred fifty percent (150%) of the Monthly Rental Installments and Annual Rental Adjustment (as hereinafter defined) for the Leased Premises in effect upon the date of such expiration or earlier termination, and otherwise upon the terms, covenants and conditions herein specified, so far as applicable.

More Definitions of Rental Adjustment

Rental Adjustment means: (a) for the first Adjustment Date, the amount set forth in the Basic Lease Terms table in this Lease multiplied by the then current Base Annual Rental. The change in Price Index shall be calculated as the percentage change between the Price Index for the month which is two months prior to the first Adjustment Date and the Price Index used for the two months preceding the Effective Date in the case of the first Adjustment Date. By way of example, if the Adjustment Date is January 1, 2023, the change in Price Index shall be the percentage change between the Price Index for November 2022 and the Price Index for November 2021; provided, however, in no event shall the Rental Adjustment for the first Adjustment Date exceed five percent (5.00%), and (b) for each Adjustment Date thereafter, an amount equal to three percent (3.00%).

Rental Adjustment is defined in Section 5.1 hereof.

Rental Adjustment has the meaning set forth in Section 2.06 as adjusted as set forth in Section 2.07.

Rental Adjustment means, for any period with respect to the Consolidated Net Income of any Acquired Business, without duplication of amounts, the amount by which the Rental Expense deducted in determining the Consolidated Net Income of that Acquired Business for that period would be reduced as a nonrecurring item in a pro forma statement of operations of that Acquired Business for such period prepared in accordance with GAAP.

Rental Adjustment. Suite Adjustment Date: Monthly Base Square Foot Rate 250 July 1, 2000 $ 11,500.00 $ 2.30 250 July 1, 2001 11,750.00 2.35 401 July 1, 2000 3,105.00 2.30 401 July 1, 2001 3,172.50 2.35 201 June 15, 2001 7,038.00 2.55 201 June 15, 2002 7,176.00 2.60 304 Jan. 1, 2001 5,779.90 2.30 304 Jan. 1, 2002 5,905.55 2.35 Suite 304 - Five thousand six hundred fifty-four and 25/100 dollars ($5,654.25) ($2.25 per square foot of rentable area and $2.587 per square foot of usable area).

Rental Adjustment means an amount equal to ten percent (10%) of the Base Annual Rental in effect immediately prior to the applicable Adjustment Date.

Rental Adjustment means, for any period with respect to the Consolidated Pro Forma EBITDA of any Acquired Business, without duplication of amounts, the amount by which Rental Expense deducted in determining the Consolidated Net Income before income taxes of that Acquired Business for that period would be reduced or increased as a nonrecurring item in a pro forma statement of operations for that period.