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escalator clause

noun
1.
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
1925-1930
1925-30, Americanism
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for escalator clause
  • The current contract has an escalator clause due to the chemical costs.
  • The simpler the escalator clause, the easier this will be to accomplish.
  • She pointed out that the lease had an escalator clause in it.
  • He has an escalator clause in his contract that says he has to be the top paid coach in the conference.
  • Most proffer statements have an escalator clause for inflation.
  • The lease also has an annual escalator clause that will further raise rental costs.
  • She said that the three percent escalator clause would be removed.
British Dictionary definitions for escalator clause

escalator clause

noun
1.
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 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Difficulty index for escalator clause

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Word Value for escalator

11
13
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