Transportes Inter Californias - Laserfiche WebLink

Home Browse Search

Yml' CPI RR AL AD.JUSDENTS The monthly installments of rental, as provided for in Paragraph J of the Basic Lease Provisions, shall be adjusted upward at the ccmme*ramnt of everyl3 nth month of the term (the "Adjustment Date ") to the greater of (i) the minimn adjustment amount, if any, specified in Paragraph J of the Basic lease Provisions, or (ii) an increase based upon a Consumer Price Index formula as follows: The base for computing the adjustment is a revised Consumer Price Index, all items (1967 = 100) for Urban Wage Earners and Clerical Workers, for the Los Angeles/Long Beach/Anaheim Metropolitan area, as published ninthly by the United States Department of Labor, Bureau of Labor Statistics ( "Index ), which is published for the third month prior to the date on which the term of this lease co®enres as deter- mined by Article 2 of this Lease ( "Beginning Index "). If the Index published for the third month prior to the Adjustment Date ( "Comparison Index") has increased over the Beginning Index, the ninthly install- ments of rental for the lease year imrediately succeeding the Adjust - ment Date shall be set by multiplying the monthly rental, as set forth in Paragraph J of the Basic Lease Provisions, by a fraction, the num- erator of which is the Comparison Index and the denominator of which is the Beginning Index. In no case shall the adjusted monthly installment of rental ever be less than the installment of basic rent for the month immediately preceding each Adjustment Date. Upon adjustment of the monthly rental as provided in this Article, owner shall give Tenant written notice of the new ninthly rental. If the Index is changed so that the base is changed from 1967 = 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 discontinued or revised during the lease term or any extension thereof, such other governmental index or coW - tation with which it is replaced shall be used in order to obtain sub- stantially the same result as would be obtained if the Index had not been discontinued or revised. If there is no such replacement, then Owner and Tenant shall mutually select another price index which is satisfactory to both. If the parties cannot agree, then such index shall be selected by three arbitrators in accordance with the rules of the American Arbitration Association, and such determination shall be final and binding upon the parties. M'S INITIALS: Mill w 1