uuu_lse_esc_freq_type

Data Definition: SYS Escalation Frequency Term Type

Form Label (Field Label): Escalation Frequency Term Type

# of Characters: Not applicable

Where to use it: Lease BPs

Use this element for: Specifying how often the escalation should occur, time-wise (such as every 12 months).

This data element is a Pull-down Menu (Drop-down list) that offers a choice of term types:

• Days
• Weeks
• Months
• Years

  Note:

  Not applicable if None is chosen for the Escalation Method.

This element works in conjunction with these elements:

• uuu_lse_esc_freq_type
• uuu_lse_esc_method
• uuu_lse_esc_value

Examples

For a lease that escalates by 2% every 5 years:

• uuu_lse_esc_method = %
• uuu_lse_esc_value = 2
• uuu_lse_esc_freq_len = 5
• uuu_lse_esc_freq_type = Years

For a lease that escalates by $200 every 5 years:

• uuu_lse_esc_method = Fixed
• uuu_lse_esc_value = 200
• uuu_lse_esc_freq_len = 5
• uuu_lse_esc_freq_type = Years

Escalation will differ slightly, depending on the frequency used. Over a 10-year lease term, an escalation frequency of 1 year will differ from a frequency of 52 weeks or 365 days because of leap years. Years with 366 days will make a difference; and a frequency of 52 weeks might be a day, or two, short of a full year.