escalator clause

noun
a provision in a contract calling for adjustments, usually increases, in charges, wages, or other payments, based on fluctuations in production costs, the cost of living, or other variables.
Also called, especially British, escalation clause.

Origin:
1925–30, Americanism

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2013.
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Collins
World English Dictionary
escalator clause
 
—n
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 & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Escalator clause is always a great word to know.
So is lollapalooza. Does it mean:
a children's mummer's parade, as on the Fourth of July, with prizes for the best costumes.
an extraordinary or unusual thing, person, or event; an exceptional example or instance.
LEARN MORE UNUSUAL WORDS WITH WORD DYNAMO...
Example sentences
The lease also has an annual escalator clause that will further raise rental
  costs.
She pointed out that the lease had an escalator clause in it.
Most proffer statements have an escalator clause for inflation.
The simpler the escalator clause, the easier this will be to accomplish.
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