Common use of INITIAL TERM MINIMUM RENT Clause in Contracts

INITIAL TERM MINIMUM RENT. During the Initial Term, "MINIMUM RENT" per Lease Year is equal to Landlord's Investment (as defined below) multiplied by the Initial Term Applicable Rate. The "INITIAL TERM APPLICABLE RATE" for each Lease Year (or portion thereof) shall be (A) the Initial Term Base Rate (as defined below) for the portion of the Lease Year from the Effective Date to December 31, 2002, (B) the Initial Term Base Rate plus the CPI Increase (as defined below), not to exceed 30/100ths of one percent (.30%), for the first (1st) Lease Year, (C) the Initial Term Applicable Rate in effect in the immediately preceding Lease Year plus the CPI Increase, not to exceed 30/100ths of one percent (.30%), for the second (2nd) through the fourth (4th) Lease Years, and (D) the Initial Term Applicable Rate in effect in the immediately preceding Lease Year plus the CPI Increase, not to exceed 25/100ths of one percent (.25%), for the fifth (5th) Lease Year and each Lease Year thereafter during the Initial Term. The "INITIAL TERM BASE RATE" shall be equal to eleven and one-half percent (11.5%). The "CPI INCREASE" shall be calculated annually by comparing the CPI (as defined below) in effect on the first calendar day of the immediately preceding Lease Year (or calendar year with respect to the first (1st) Lease Year) to the first calendar day of the then current Lease Year and multiplying by three (3). The "CPI" shall mean the Consumer Price Index for All Urban Wage Earners and Clerical Workers, United States Average, Subgroup "All Items" (1982 - 1984 = 100), as published by the United States Department of Labor, Bureau of Labor Statistics, or similar index if the same becomes unavailable.

INITIAL TERM MINIMUM RENT. During the Initial Term, "MINIMUM RENTMinimum Rent" per Lease Year is equal to Landlord's Investment (as defined below) multiplied by the Initial Term Applicable Rate. The "INITIAL TERM APPLICABLE RATEInitial Term Applicable Rate" for each Lease Year (or portion thereof) shall be (Aa) the Initial Term Base Rate (as defined below) for the portion of the Lease Year from the Effective Date to December 31, 2002, (Bb) the Initial Term Base Rate plus the CPI Increase (as defined below), not to exceed 30/100ths of one percent (.30%), for the first (1st) Lease Year, (Cc) the Initial Term Applicable Rate in effect in the immediately preceding Lease Year plus the CPI Increase, not to exceed 30/100ths of one percent (.30%), for the second (2nd) through the fourth (4th) Lease Years, and (Dd) the Initial Term Applicable Rate in effect in the immediately preceding Lease Year plus the CPI Increase, not to exceed 25/100ths of one percent (.25%), for the fifth (5th) Lease Year and each Lease Year thereafter during the Initial Term. The "INITIAL TERM BASE RATEInitial Term Base Rate" shall be equal to eleven and one-half percent (11.5%). The "CPI INCREASEIncrease" shall be calculated annually by comparing the CPI (as defined below) in effect on the first calendar day of the immediately preceding Lease Year (or calendar year with respect to the first (1st) Lease Year) to the first calendar day of the then current Lease Year and multiplying by three (3). The "CPI" shall mean the Consumer Price Index for All Urban Wage Earners and Clerical Workers, United States Average, Subgroup "All Items" (1982 - 1984 = 100), as published by the United States Department of Labor, Bureau of Labor Statistics, or similar index if the same becomes unavailable.