A provision of a contract which calls for an increase in price in the event...
Union contract provision for the raising and lowering of wages according to changes in the cost-of-living index or similar standard. ob action - A concerted action by employees on the job that puts pressure on an employer without striking. Slowdowns, in which workers deliberately reduce productivity, and work-to-rule actions, in which employees perform the minimum of what is officially required of them, are examples.
A clause in a purchase or sales contract that permits adjustment of price or profit, under specific conditions.
A provision in a lease that requires the tenant to pay more rent based on an increase in costs. Same as stop clause.
A provision in a contract or lease that provides for an upward or downward adjustment of price, costs, rents, expenses, etc. based on factors beyond the control of all parties involved.
Provision in a contract allowing cost increases to be passed on. In an employment contract, for example an escalator clause may call for wage increases in line with inflation.
A clause in a contract, lease or mortgage providing for increases in wages, rent or interest, based on fluctuations in certain economic indexes, costs or taxes.
a clause in a contract that provides for an increase or a decrease in wages or prices or benefits etc. depending on certain conditions (as a change in the cost of living index)
Contract clause that provides for upward or downward adjustment of certain items of cost or expense to cover specified contingencies.
The clause in a mortgage allowing the lender to adjust the interest rate based upon the occurrence of a certain event.
A clause in a contract or mortgage providing for the adjustment of payments or interest in the event of certain contingencies, such as changes in taxes or the prime interest rate.
A clause in a purchase or sale contract that permits adjustment of the contract price under specified conditions.
A clause providing that an item will be adjusted upward or downward under certain conditions. For example, a note may provide that the interest rate goes up or down as the cost of living index rises or falls.
A provision of an agreement that provides for automatic adjustments in payments based on an economic index that neither party to the agreement controls. Typical escalator clauses provide for increases in wages based on increases in the cost of living index, or higher rent or other charges based on high fuel or maintenance costs.... read full article
A contractual provision that increases or decreases the contract price according to changing market conditions.
A loan clause that provides payment or interest increases, according to a schedule or economic index (such as the consumer price index).
Part of a net lease. A provision that increases the rent payable under a lease when certain costs of the building increase (i.e. taxes, utility charges, etc.).
"n. a provision in a lease or other agreement in which rent, installment payments or alimony, for example, will increase from time to time when the cost of living index (or a similar gauge) goes up. Often there is a maximum amount of increase ("cap") and seldom is there a provision for reduction if the cost of living goes down or for deflation instead of inflation. See also: cap "
Clause in a loan instrument providing for increases in payments or interest based upon predetermined schedules or upon a specific economic index, such as the consumer price index. See variable-rate mortgage.
Union contract provision for the raising and lowering of wages according to changes in the cost of living index or a similar standard; most commonly referred to as a Cost of Living Adjustment (COLA).
A clause in a contract that provides for the upward or downward adjustment of certain items to cover the specific contingencies set forth. A clause in a promissory note, lease, or other document that provides that upon the passage of a specified time or the happening of a stated event, the interest rate shal increase. Back to the Top
A clause in a loan providing for increases in payments or interest based on pre-determined schedules or on a specific economic index, such as the consumer price index.
A clause in a policy providing for a possible increase in the insured value of property on account of rising costs.
the clause in a policy which allows the sum insured on property to rise throughout the period of insurance in step with the assumed rate of inflation.
The clause in a contract permitting adjustments of the payments.
A clause in a contract providing for increases in costs such as labor expenses and materials.
A provision in a mortgage permitting the lender to increase the interest rate that is usually tied to an event or a contingency