First Escalation Date definition
Examples of First Escalation Date in a sentence
The First Escalation Date is the first date that is twelve (12) Months after the most recent Review Date and each subsequent Escalation Date shall be twelve (12) Months after the previous Escalation Date where no Review Date has occurred in the twelve (12) Month period.
Thereafter, on each anniversary of the First Escalation Date, Fixed Rent shall be increased by the percentage increase, if any, in the last reported month available to the public on the first day of the CPI Change Month of the next preceding lease year as compared to the Base CPI.
If any change in the Base Access Charge, X Factors or First Escalation Date is subsequently agreed or determined then the revised Base Access Charges, Escalation Factor or First Escalation Date will apply from the relevant Review Date and the Parties will account to one another accordingly.