Common use of Base Rent Increases Clause in Contracts

Base Rent Increases. Base Rent increases during the Term shall be on the first (1st) day of the Sixth (6th) Lease Year, Eleventh (11th) Lease Year, Sixteenth (16th) Lease Year, Twenty- first (21st) Lease Year and during the Extended Term (in the event Tenant shall elect to exercise any of the options provided for in Section 2.3 above) shall be on the first day of the Twenty-sixth (26th) Lease Year and the Thirty-first (31st) Lease Year. The then prevailing Base Rent shall be increased (but not decreased) by the increase, if any, in the Consumer Price Index (hereinafter defined) for the month immediately prior to said day over the Consumer Price Index published for the same month in the calendar year five (5) years preceding, but in no event shall any increase in Base Rent exceed fifteen percent (15%) of the then-prevailing Base Rent. The term “Consumer Price Index” shall mean the Consumer Price Index, All Urban Consumers, All Items, U.S. City Average (1993-1995 = 100) published by the Bureau of Labor Statistics, U.S. Department of Labor. In the event the Consumer Price Index ceases to be based on 1993-1995 = 100, or if a substantial change is made in the terms or number of items contained in the Consumer Price Index, then the Consumer Price Index for any particular period shall be adjusted appropriately. In the event the Consumer Price Index or a successor or substitute Index is no longer published, a reliable governmental or other non-partisan publication evaluating information used in determining the Consumer Price Index shall be the basis for adjusting the Base Rent. Landlord shall advise Tenant promptly of any increase in the Base Rent by reason of increases in the Consumer Price Index.

Base Rent Increases. Base Rent increases during the Term shall be on the first (1st) day of the Sixth (6th) Lease Year, Eleventh (11th) Lease Year, Sixteenth (16th) Lease Year, Twenty- first (21st) Lease Year and during the Extended Term (in the event Tenant shall elect to exercise any of the options provided for in Section 2.3 above) shall be on the first day of the Twenty-sixth (26th) Lease Year and the Thirty-first (31st) Lease Year. The then prevailing Base Rent shall be increased (but not decreased) by the increase, if any, in the Consumer Price Index (hereinafter defined) for the month immediately prior to said day over the Consumer Price Index published for the same month in the calendar year five (5) years preceding, but in no event shall any increase in Base Rent exceed fifteen percent (15%) of the then-prevailing Base Rent. The term “Consumer Price Index” shall mean the Consumer Price Index, All Urban Consumers, All Items, U.S. City Average (1993-1995 = 100) published by the Bureau of Labor Statistics, U.S. Department of Labor. In the event the Consumer Price Index ceases to be based on 1993-1995 = 100, or if a substantial change is made in - 4 - the terms or number of items contained in the Consumer Price Index, then the Consumer Price Index for any particular period shall be adjusted appropriately. In the event the Consumer Price Index or a successor or substitute Index is no longer published, a reliable governmental or other non-partisan publication evaluating information used in determining the Consumer Price Index shall be the basis for adjusting the Base Rent. Landlord shall advise Tenant promptly of any increase in the Base Rent by reason of increases in the Consumer Price Index.