An escalator clause is a clause in a lease or contract that guarantees an increase in the agreement price once a particular factor that beyond control of either party affecting the value has been determined. This article or section should include material from Tenancy agreement A lease is a contract conveying from one person (the lessor) to another person (the lessee) the right to use and control some article of property for a specified period of time (the term), without conveying ownership, in exchange for... A contract is any legally-enforceable promise or set of promises made by one party to another and, as such, reflects the policies represented by freedom of contract. ...