Common use of Increases in Base Rent Clause in Contracts

Increases in Base Rent. Annual Base Rent shall increase on the first day of the sixty-first (61st) full calendar month of the Main Term, over the Initial Base Rent charged hereunder by the lesser of ten percent (10%) or one and one-half (1-1/2) times the percentage increase in the "CPI-U" (as defined below) during the sixty (60) month period ending on the first three (3) months preceding said adjustment date. As used herein, the CPI-U shall be the United States Department of Labor, Bureau of Labor Statistics Consumer Price Index for All Urban Consumers, U.S. City Average. If at any time during the Term the CPI-U shall be discontinued, Landlord and Tenant shall mutually and reasonably agree to substitute an existing official index published by the Bureau of Labor Statistics or its successor or another, similar governmental agency, which index is most nearly equivalent to the CPI-U. Furthermore, Annual Base Rent shall increase on the first day of the one hundred twenty-first (121st) full calendar month of the Main Term and each five (5) years thereafter throughout the Term (each such date of Base Rent adjustment being hereinafter referred to as an "Adjustment Date"), over the Initial Base Rent by the lesser of twelve percent (12%) or one and one-half (1-1/2) times the percentage increase in the CPI-U.