escalator clause definition

  • noun:
    • A provision in a contract stipulating a growth or a decrease, as with earnings, benefits, or rates, under specific circumstances, like changes in the expense of residing.
    • A clause in a lease or agreement that guarantees a modification of the contract cost once a specific element beyond control of either party impacting the worthiness is determined.
    • a clause in a contract that delivers for a growth or a decrease in wages or costs or benefits an such like. dependent on specific circumstances (as a change in the price of residing list)

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  • Hypernym for "escalator clause"
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