9.13 E. Disappearing Indices
| Jurisdiction | New York |
E. Disappearing Indices
The CPI has been “re-based” several times over the years, and its components have changed. Several regional CPI indices in common use have been eliminated. The porter’s wage clause, linked to a New York City labor contract, has seen significant changes in composition as categories of workers have been added and eliminated. All these changes can significantly and unexpectedly affect the amount of rent your client pays. One corporate tenant agreed to a CPI increase linked to a...
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- 9.0 I. Introduction
- 9.1 II. The Space
- 9.2 III. Operating Expenses— The Trickiest Clause
- 9.3 A. Umbrella Or Enabling Clause
- 9.4 B. Exclusions
- 9.5 C. Capital Improvements
- 9.6 D. Double-Dipping
- 9.7 E. Electricity
- 9.8 IV. Rent Increases
- 9.9 A. Base Year
- 9.10 B. Fair Share
- 9.11 C. IndeXIng The Rent
- 9.12 D. Overlapping Escalation Formulas
- 9.13 E. Disappearing Indices
- 9.14 V. Real Estate Taxes
- 9.15 VI. Alterations, Maintenance, And Repair
- 9.16 A. Alterations
- 9.17 B. Maintenance
- 9.18 C. Wear And Tear
- 9.19 VII. Casualties And Catastrophes
- 9.20 A. Casualties
- 9.21 B. Other Catastrophes—Off-Site Events
- 9.22 VIII. Escapes And Extensions
- 9.23 A. Subleasing
- 9.24 B. Assignment
- 9.25 C. Renewals
- 9.26 IX. Dispute Resolution
- 9.27 X. Negotiating The Workletter
- 9.28 A. The Build-Out Workletter
- 9.29 B. Interior Allowance And Fit-Up
- 9.30 XI. Conclusion
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