escalator clause

escalator clause
es·ca·la·tor clause /'es-kə-ˌlā-tər-/ n
1: a clause in a contract that provides for an increase in the amount of the payments made under the contract to reflect an increase in costs or the raising of a government-imposed cap on costs
2: a clause in an employment contract that provides for an increase in wages to reflect a rise in the cost of living but prohibits a decrease to reflect a drop in the cost of living

Merriam-Webster’s Dictionary of Law. . 1996.

escalator clause
n.
A clause in a contract that provides for an increase or decrease in price if a particular event happens.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


escalator clause
Provision in a lease or other agreement which provides for an increase (in rent, installment payments, alimony, or some other financial payment) when the cost of living index (or a similar gauge) goes up. Often there is a maximum amount or cap on the increase.
Category: Divorce & Family Law
Category: Personal Finance & Retirement
Category: Real Estate & Rental Property

Nolo’s Plain-English Law Dictionary. . 2009.


escalator clause
A stipulation contained in a union contract stating that wages will be raised or lowered, based upon an external standard such as the cost of living index. A term, ordinarily in a contract or lease, that provides for an increase in the money to be paid under certain conditions.

Dictionary from West's Encyclopedia of American Law. 2005.


escalator clause
A stipulation contained in a union contract stating that wages will be raised or lowered, based upon an external standard such as the cost of living index. A term, ordinarily in a contract or lease, that provides for an increase in the money to be paid under certain conditions.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

escalator clause
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

Law dictionary. . 2013.

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