Secondary Cap definition
Secondary Cap means an average rate per annum equal to the greater of (i) five percent (5%) per annum, or (ii) the average annual cost of living increase between the first (1st) month and the sixtieth (60th) month of the Term of this Lease (which shall be determined by comparing the Consumer Price Index - Urban Wage Earners and Clerical Workers - Los Angeles-Anaheim-Riverside, California, Base 1982-84 ("CPI") compiled by the U.S. Department of Labor, Bureau of Labor Statistics, for month one (1) with the CPI for month sixty (60), and dividing any such total increase by five (5)). During the period from months ninety-one (91) through one-hundred twenty-two (122) of the Term of the Lease, Controllable Costs shall not increase beyond the "Final Cap". The "Final Cap" shall mean an average rate per annum of the greater of (x) the Secondary Cap, or (y) the average annual CPI increase between the sixty-first (61st) month through the ninetieth (90th) month
Secondary Cap means, at any time of calculation, the lesser of (a) 30% of the Aggregate Commitments or (b) $90,000,000.
Examples of Secondary Cap in a sentence
If a Buyer Indemnified Party is entitled to indemnity under Section 11.2(a) with respect to any Secondary Cap Matter, any such claim shall be satisfied solely and exclusively against the Secondary Indemnity Cap.