escalator clause


Also found in: Thesaurus, Legal, Financial, Wikipedia.
Related to escalator clause: Graduated lease, index lease

escalator clause

n.
A provision in an agreement or regulation giving a party or beneficiary the benefit of an increase in payment, or an excuse from payment of an additional amount, where some specified change in financial conditions occurs, such as an increase in cost of living.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

escalator clause

n
(Industrial Relations & HR Terms) a clause in a contract stipulating an adjustment in wages, prices, etc, in the event of specified changes in conditions, such as a large rise in the cost of living or price of raw materials
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

es′calator clause`


n.
a provision in a contract calling for adjustments, usu. increases, in charges, wages, or other payments, based on fluctuations in production costs, the cost of living, or other variables.
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.escalator clause - 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)
clause, article - a separate section of a legal document (as a statute or contract or will)
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
Translations

escalator clause

nGleitklausel f
Collins German Dictionary – Complete and Unabridged 7th Edition 2005. © William Collins Sons & Co. Ltd. 1980 © HarperCollins Publishers 1991, 1997, 1999, 2004, 2005, 2007

escalator clause

nclausola di indicizzazione or di revisione
Collins Italian Dictionary 1st Edition © HarperCollins Publishers 1995
Mentioned in ?
References in periodicals archive ?
Father asks the court to reduce his current child-support obligation, which has increased by almost half due to an automatic escalator clause in the parties' Property and Support Separation Agreement.
The same issue arose in 2007 when then-Red Sox general manager Theo Epstein included a similarly worded escalator clause in Curt Schilling's contract -- eventually resulting in an agreement with the players union and Major League Baseball to ban such language in future contracts.
Stop Clause: A provision in a lease whereby real estate tax increases imposed on the lessor are passed along to the lessee as additional rent; also referred to as an Escalator clause.
* Returning veterans are entitled to their former positions, and USERRA's "escalator clause" requires they be placed in the position they would be in if they had not left for deployment.
Park claims the fee was too high when originally negotiated, and a 10% escalator clause in the seven-year deal that runs through to 2016 is beyond their means.
This proposal recommends that SCNA adopt a dues escalator clause as part of the SCNA Dues Policy.
However, Ecclestone has taken a considerable financial hit on that figure, estimated to be at least pounds 60million, as he has been talked down from an original seven per cent escalator clause on the initial pounds 12m starting fee.
However, Ecclestone has taken a considerable financial hit on that figure, estimated to be at least pounds 60m, talked down from an original seven per cent escalator clause on the pounds 12m starting fee.
However, Ecclestone has taken a considerable financial hit on that figure, estimated to be at least pounds 60m, as he has been talked down from an original seven per cent escalator clause on the initial pounds 12m starting fee.
No financial details were given but British newspaper The Times reported that the deal was worth 310 million pounds ($509.9 million) over the 17 years, including a 5 per cent annual escalator clause. Ecclestone, who once described the former World War Two airfield circuit as a country fair masquerading as a world event, has been a fierce critic over the years but said he too was satisfied.
The current possibilities include a six-year term, a $100,000 Capital Grant to be paid in two installments, annual PEG support of 25 percent with a 3 percent escalator clause and a senior/handicapped discount of 10 percent off of basic-tier services.