Graduated Lease
A lease (usually long-term) that is periodically adjusted to reflect the appraised value of the asset being leased.
Investopedia Commentary
For example, if under a graduated lease a company was leasing land for 25 years, every 5 years the lease payments might be adjusted to reflect the current market value of the land.
See also: Capital Lease, Debt, Leaseback, Lessee, Lessor, Operating Lease, Synthetic Lease