NYC 9/11 Public Portal Document
thirty (30) days of Lease termination or expiration.
Tenant shall have the right to copy, examine and audit Landlord's Base Year Operating
Statement.
A.2 LANDLORD’S STATEMENT OF OPERATING EXPENSE
ESCALATIONS
Consumer Price Index Adj Tmiiimji
1. Definitions
1.1 “Price Index” shall mean “The Consumer Price Index for U.S. City Average-
All Urban Consumers (1982-84 equals 100), issued by the Bureau of Labor Statistics of the
United States Department of Labor.
1.2 “Base Price Index” shall mean the Price Index for the month of January,
1998.
1.3 “Lease Year” shall mean each period of twelve (12) consecutive months.
beginning on the first day of January of each calendar year, during the Term of this Lease.
1.4 “Operating Expenses Base Year” shall mean the calendar year 1998.
2. “Operating Expense Escalation’’shall mean a sum payable by Tenant to
Landlord each Lease Year computed by multiplying the sum representing the Base Year
Operating Expenses as defined under Subsection A. 1 of this Article 4 by the percentage, if any.
by which the average Price Index, as published for the month following the last month of the
Lease Year in question, shall exceed the Base Price Index. Such sum shall be multiplied by 2.37
% which represents Tenant pro rata share of Operating Expenses for the Building. (See example
for calculating CPI Index changes below.)
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NYC-WTC_000170077
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