NYC 9/11 Public Portal Document
States Department of Labor,
1,2 “ Base Price Index” shall mean the Price Index for the month of -<f-fif9Hnonth
ef-Qpcfatiflg Expense Base Ycarl> January, 1998 .
1,3 “ Lease Year” shall mean each period of twelve (12) consecutive Tnonths,'
beginning on the first day of -<■ January of each calendar year, during the -<tefm>
Term of this Lease.
1,4 “ Operating Expenses Base Year” shall mean <[A] -statement of un audited dollar
ameuftt;-gB] thc-average-Operating Expenses for the last-three (3) calendar-yeafs prior to the
ealendaf-ycar-in-which this-Leasc is executed, er-t 1-0% of the Operating Expenses-for theealendar
yetf prior to the-onc in which thi»Lease-is executed; whichever is lower; er-{G]-Qpefating
Expenses fer4heealendar year-inw>4Meb-this Lease is executed ifthis Lease is executed by the City
before Jane 30 of the then current year; or the-Operating Expenses for the-next ealcndar year if this
Lease is cxeeated by the City on or after July-l -of-thc then current ycar.-Sueh ehosen year/option
shall-be the Operating Expense Base Ycar> 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,
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shall exceed the Base Price Index, Such sum shall be multiplied by peroeiU(%> 2.37 %
which represents Tenant pro rata share of Operating Expenses for the Building, (S iffir
calculating CPI Index changes below.)
3, Such Operating Expense Escalation for every Lease Year which follows the
Operating Expense Base Year shall be billed and paid as follows;
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NYC-WTC_000170593
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