Wiktionary
n. (context legal English) A clause in a lease or contract that guarantees a change in the agreement price once a particular factor beyond control of either party affecting the value has been determined.
WordNet
n. a clause in a contract that provides for an increase or a decrease in wages or prices or benefits etc. depending on certain conditions (as a change in the cost of living index) [syn: escalator]
Wikipedia
An escalator clause is a clause in a lease or contract that guarantees a change in the agreement price once a particular factor beyond control of either party affecting the value has been determined. An important example of this is a contract that adjusts for inflation.
Escalator clauses are quite common in construction contracts to cover unexpected costs due to fluctuations in the prices for raw materials, fuel, and labor during the course of the construction project. [citation needed]
Usage examples of "escalator clause".
Taxes rose with income and the escalator clause in his alimony order took effect.