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 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: (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%).
Examples of Rental Adjustment in a sentence
TRAC Lease” means “Terminal Rental Adjustment Clause” as defined in Section 7701(h)(3) of Title 26 of the United States Code.Note: Authority cited: Sections 44520 and 44559.5(f), Division 27, Health and Safety Code.
TRAC Lease” means “Terminal Rental Adjustment Clause” as defined in Section 7701 (h)(3) of Title 26 of the United States Code.Note: Authority cited: Sections 44520 and 44559.5(f), Division 27, Health and Safety Code.
The Manufactured Home Rental Adjustment Panel of the City of Santa Clarita is hereby established.
It concerns car lease agreements that contain a Terminal Rental Adjustment Clause (TRAC): a final settlement calculation is made at termination of the lease to determine the final rental adjustment.
TRAC Lease” means “Terminal Rental Adjustment Clause” as defined in Section 7701(h) (3) of Title 26 of the United States Code.
More Definitions of Rental Adjustment
Rental Adjustment is defined in Section 5.1 hereof.
Rental Adjustment means (a) on each Adjustment Date during the first five (5) years of the Lease Term, an amount equal to the lesser of (i) 1.50% of the Base Annual Rental in effect immediately prior to the applicable Adjustment Date, and (ii) 1.25 multiplied by the product of (A) the then-applicable One-Year CPI Increase; and (B) the then current Base Annual Rental; and (b) subject to Section 4.03, on each Adjustment Date thereafter, an amount equal to the lesser of (i) 8% of the Base Annual Rental in effect immediately prior to the applicable Adjustment Date, and (ii) 1.25 multiplied by the product of (A) the then-applicable Five-Year CPI Increase and (B) the then current Base Annual Rental.
Rental Adjustment has the meaning set forth in Section 2.06.
Rental Adjustment has the meaning specified in Clause 4 (Rent and Lease Charges) of the applicable Master Lease. “Replacement Issuer Back-Up Administrator” has the meaning given to it in Clause 4.4(a) of the Issuer Back-Up Administration Agreement. “Repurchase Period” means, with respect to any Program Vehicle, the period during which such Vehicle may be turned in to the Manufacturer thereof for repurchase or sale at Auction pursuant to the applicable Manufacturer Program. “Repurchase Price” with respect to any Program Vehicle:
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. On March 1, 2002 and every twenty-four (24) months thereafter (each an "Adjustment Date"), the then payable Net Base Monthly Rent shall be subject to adjustment to based on the increase, if any, in the Consumer Price Index that has occurred during the twenty-four (24) months preceding the then applicable Adjustment Date. The basis for computing the adjustment shall be the United States Department of Labor, Bureau of Labor Statistics Consumer Price Index for all urban consumers, all items, and 1982-1984 = 100 for the San Francisco-Oakland-San Xxxx Area (the "Index"). The Index most recently published preceding the previous Adjustment Date (or, with respect to the first Adjustment Date, the Index for March 1, 2000) shall be the "Base Index". If the Index most recently published preceding the Adjustment Date ("Comparison Index") is greater that the Base Index, the then payable Net Base Monthly Rent shall be increased by multiplying the then payable Net Base Monthly Rent by a fraction, the numerator of which is the Comparison Index and the denominator of which is the Base Index. Notwithstanding any subsequent decrease or increase in the Index, the rent adjustment pursuant to this section for any calendar year shall never be less than three percent (3%) nor more than eight percent (8%) per year compounded annually. Upon any adjustment of the Net Base Monthly Rent, Landlord shall notify Tenant by letter stating the new Net Base Monthly Rent. Landlord's calculation of the Net Base Monthly Rent escalation shall be conclusive and binding unless Tenant objects to such calculation within sixty (60) days after Tenant's receipt from Landlord of such calculation. Landlord's failure to adjust Net Base Monthly Rent on any Adjustment Date shall not prevent Landlord from retroactively adjusting Net Base Monthly Rent at any subsequent time during the Lease Term. If the Index base year has changed so that it differs from 1984-1984=100, the Index shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is changed, revised or discontinued for any reason, there shall be substituted in lieu thereof, and the term "Consumer Price Index" shall thereafter refer to, the most nearly comparable official price index published by the United States Government in order to obtain substantially the same result as would have been obtained had the original Consumer Price Index not been discontinued, ...