Common use of Minimum Annual Rent Clause in Contracts

Minimum Annual Rent. The minimum annual rent ("Minimum Annual Rent") payable by Lessee to Lessor shall be Ninety-Six Thousand Two Hundred Fifty and 00/100 Dollars ($96,250.00) per year, lawful money of the United States of America, payable in monthly installments in advance during the said term of this Lease in sums of Eight Thousand Twenty and 83/100 Dollars ($8,020.83) on the first day of each month, rent to begin from the Lease Commencement Date, the first installment to be paid on or before the Lease Commencement Date, subject to the requirements of subparagraph 2 (C), supra. The first installment of Minimum Annual Rent to be made during the occupancy of the Premises shall be adjusted to pro rate a partial month of occupancy, if any, at the inception of this Lease at the rate of Minimum Annual Rent in effect during the first Lease Year, i.e., the period of twelve (12) calendar months following the Lease Commencement Date. If the date of commencement of the term of this Lease shall be a day other than the first day of the calendar month, then the term of this Lease shall be deemed extended by the number of days between the Lease Commencement Date and the last day of said month, so that the term of this Lease shall expire five (5) years after such first day of the first calendar month following the Lease Commencement Date, unless extended or previously terminated, as herein set forth.

Minimum Annual Rent. The minimum annual rent ("Tenant shall pay Minimum Annual Rent"Rent in twelve (12) payable by Lessee to Lessor shall be Ninety-Six Thousand Two Hundred Fifty and 00/100 Dollars ($96,250.00) per year, lawful money of the United States of America, payable in equal monthly installments in advance during the said term of this Lease Term, in sums of Eight Thousand Twenty and 83/100 Dollars ($8,020.83) advance, on the first day of each calendar month, rent without setoff, deduction, prior notice or demand. Notwithstanding anything to begin from the Lease Commencement Datecontrary contained herein, if the first installment initial opening of the Shopping Center has not occurred on or before September 1, 1998, it is agreed that after Tenant initially opens for business within the Premises and provided Tenant continuously remains open for business then the Minimum Annual Rent and Percentage Rent set forth in Article 1 shall be abated through December 31, 1998. During the time Minimum Annual Rent and Percentage Rent is abated, Tenant shall pay to be paid Landlord the amount equal to five percent (5%) of Tenant's Gross Sales monthly in arrears on or before the Lease Commencement Datetwentieth (20th) day of each month, subject to and further provided that during the requirements of subparagraph 2 (C), supra. The first installment of period the Minimum Annual Rent and Percentage Rent is abated, Tenant shall pay all other charges called for in the manner provided for in this Lease. The provisions of this Section 4.2 shall in no event change or modify the Rent Commencement Date. However, in the event Tenant fails to open for business within the time limits set forth in Article 1, Tenant shall pay, in addition to the amounts required in Section 11.1, the Minimum Annual Rent and Percentage Rent set forth in Article 1 for every day Tenant is not open regardless of the provisions of this paragraph. Notwithstanding anything to the contrary contained herein, it is agreed that commencing on the thirtieth (30th) day following the date Tenant has opened for business and so long as Tenant continuously remains open for business, the Minimum Annual Rent set forth in Article 1 shall be made abated until such time (the foregoing period is referred to as the "Initial Abatement Period") as there are initially open for business tenants occupying at least seventy percent (70%) of the total Floor Area available for Mall Tenants in the Shopping Center. Until such time as the aforementioned contingencies have been met, Tenant shall pay to Landlord the lesser of (i) the monthly Minimum Annual Rent otherwise payable or (ii) the amount equal to five percent (5%) of Tenant's Gross Sales monthly in arrears on or before the twentieth (20th) day of each month, and further provided that during said prior period Tenant shall pay all other charges called for in the manner provided for in this Lease except Minimum Annual Rent. The foregoing abatement shall in no event change or modify the Rent Commencement Date. Then, after the conditions for the Initial Abatement Period have been satisfied and so long as Tenant continuously remains open for business, the Minimum Annual Rent set forth in Article 1 shall be abated during any period ("On-Going Abatement Period") in which less than seventy percent (70%) of the total Floor Area available for Mall Tenants in the Shopping Center is open for business in the Shopping Center. During any such On-Going Abatement Period, Tenant shall pay to Landlord the lesser of (i) the monthly Minimum Annual Rent otherwise payable or (ii) the amount equal to five percent (5%) of Tenant's Gross Sales monthly in arrears on or before the twentieth (20th) day of each month, and further provided that during the occupancy On-Going Abatement Period Tenant shall pay all other charges called for in the manner provided for in this Lease except Minimum Annual Rent. In the event any On-Going Abatement Period continues for a period of 365 consecutive days during which time Tenant's Gross Sales have decreased by at least thirty percent (30%) as compared to Tenant's Gross Sales for the Premises immediately preceding 365 day period, then, Tenant shall have the right to terminate this Lease upon notice to Landlord which must be exercised, if at all, within thirty (30) days following the end of said 365 consecutive day period. Upon such termination, both Landlord and Tenant shall be adjusted released from any further liability under this Lease. In the event the Initial Abatement Period or the On-Going Abatement Period continue for more than 365 consecutive days, then Landlord shall have the right to pro rate a partial month of occupancy, if any, at the inception of terminate this Lease at upon thirty (30) days written notice to Tenant, provided, Tenant shall have the rate right to nullify Landlord's termination notice by notifying Landlord of its intention to pay the Minimum Annual Rent in effect during the first Lease Yearaccordance with Article 1, i.e.and Article 4, the period of twelve (12) calendar months following the Lease Commencement Date. If the date of commencement of the term Section 4.2 of this Lease (followed by actual compliance therewith). Upon such termination, both Landlord and Tenant shall be a day other than the first day of the calendar month, then the term of released from any further liability under this Lease shall be deemed extended by the number of days between the Lease Commencement Date and the last day of said month, so that the term of this Lease shall expire five (5) years after such first day of the first calendar month following the Lease Commencement Date, unless extended or previously terminated, as herein set forthLease.

Minimum Annual Rent. The minimum annual rent ("Tenant shall pay Minimum Annual Rent"Rent in twelve (12) payable by Lessee to Lessor shall be Ninety-Six Thousand Two Hundred Fifty and 00/100 Dollars ($96,250.00) per year, lawful money equal monthly installments during each year of the United States of AmericaLease Term, payable in monthly installments in advance during the said term of this Lease in sums of Eight Thousand Twenty and 83/100 Dollars ($8,020.83) advance, on the first day of each calendar month, rent without setoff, deduction, prior notice or demand. Notwithstanding anything to begin from the Lease Commencement Datecontrary contained herein, it is agreed that commencing on the thirtieth (30th) day following the date Tenant has opened for business and so long as Tenant continuously remains open for business, the first installment Minimum Annual Rent set forth in Article 1 shall be abated until such time (the foregoing period is referred to be paid as the "Initial Abatement Period") as there are initially open for business tenants occupying at least seventy-five percent (75%) of the total leasable Floor Area in the Shopping Center. Until such time as the aforementioned contingency has been met, Tenant shall pay to Landlord the lesser of (i) the monthly Minimum Annual Rent otherwise payable or (ii) the amount equal to seven percent (7%) of Tenant's Gross Sales monthly in arrears on or before the twentieth (20th) day of each month, and further provided that during said prior period Tenant shall pay all other charges called for in the manner provided for in this Lease except Minimum Annual Rent. The foregoing abatement shall in no event change or modify the Rent Commencement Date. Then, subject to after the requirements of subparagraph 2 (C)conditions for the Initial Abatement Period have been satisfied and so long as Tenant continuously remains open for business, supra. The first installment of the Minimum Annual Rent set forth in Article 1 shall be abated during any period ("On-Going Abatement Period") in which less than seventy-five percent (75%) of the total leasable Floor Area in the Shopping Center is open for business in the Shopping Center. During any such On-Going Abatement Period, Tenant shall pay to be made Landlord the lesser of (i) the monthly Minimum Annual Rent otherwise payable or (ii) the amount equal to seven percent (7%) of Tenant's Gross Sales monthly in arrears on or before the twentieth (20th) day of each month, and further provided that during the occupancy of On-Going Abatement Period Tenant shall pay all other charges called for in the Premises shall be adjusted to pro rate a partial month of occupancy, if any, at the inception of manner provided for in this Lease at except Minimum Annual Rent. In the rate event the Initial Abatement Period or the On-Going Abatement Period continue for more than 365 consecutive days, then Landlord shall have the right to terminate this Lease upon thirty (30) days written notice to Tenant, provided, Tenant shall have the right to nullify Landlord's termination notice by notifying Landlord of its intention to pay the Minimum Annual Rent in effect during the first Lease Yearaccordance with Article 1, i.e.and Article 4, the period of twelve (12) calendar months following the Lease Commencement Date. If the date of commencement of the term Section 4.2 of this Lease (followed by actual compliance therewith). Upon such termination, both Landlord and Tenant shall be a day other than the first day of the calendar month, then the term of released from any further liability under this Lease shall be deemed extended by the number of days between the Lease Commencement Date and the last day of said month, so that the term of this Lease shall expire five (5) years after such first day of the first calendar month following the Lease Commencement Date, unless extended or previously terminated, as herein set forthLease.

Minimum Annual Rent. The minimum annual rent ("Minimum Annual Rent") payable by Lessee to Lessor shall be Ninety-Six Thousand Two Hundred Fifty and 00/100 Twelve Thousand Five Hundred Twenty Dollars ($96,250.00212,520.00) per year, lawful money of the United States of America, payable in monthly installments in advance during the said term of this Lease in sums of Eight Seventeen Thousand Twenty and 83/100 Seven Hundred Ten Dollars ($8,020.8317,710.00) on the first day of each month, rent to begin from the Lease Commencement Date, the first installment to be paid on or before at the Lease Commencement Date, subject to the requirements time of subparagraph 2 (C), suprasigning this Lease. The first installment of Minimum Annual Rent to be made during the occupancy of the Premises shall be adjusted to pro rate a partial month of occupancy, if any, at the inception of this Lease at the rate of Minimum Annual Rent in effect during the first Lease Year, i.e., the period of twelve (12) calendar months following the Lease Commencement Date. If the date of commencement of the term of this Lease shall be a day other than the first day of the calendar month, then the term of this Lease shall be deemed extended by the number of days between the Lease Commencement Date and the last day of said month, so that the term of this Lease shall expire five (5) years after such first day of the first calendar month following the Lease Commencement Date, unless extended or previously terminated, as herein set forth. Notwithstanding anything set forth herein to the contrary, until Lessor shall have substantially completed the improvements set forth in Exhibit "A" attached hereto and made part hereof, the monthly installments of Minimum Annual Rent payable by Lessee to Lessor shall be reduced to a sum equal to Forty-Two Cents ($0.42) multiplied by the leaseable square footage (exterior dimension) of the Premises occupied by Lessee on July 7, 1996, and the first day of each applicable month thereafter.

Minimum Annual Rent. The minimum annual rent ("Tenant shall pay as “Minimum Annual Rent") payable by Lessee to Lessor shall be Ninety-Six Thousand Two Hundred Fifty and 00/100 ” for the Premises the sum of Twelve Dollars ($96,250.0012.00) per yearsquare foot of Floor Area within the Premises, lawful money provided that the Minimum Annual Rent shall be adjusted on each yearly anniversary of the Commencement Date occurring during the Term, as the Term may be extended by the Option Term(s) pursuant hereto, if applicable (each such yearly anniversary date is referred to herein as an “Adjustment Date”’), to equal the product obtained by multiplying the Minimum Annual Rent in effect immediately prior to the applicable Adjustment Date by a fraction, the numerator of which is the “Index” (as hereinafter defined) for the calendar month which is three (3) full calendar months prior to such Adjustment Date and the denominator of which is the Index which is fifteen (15) full calendar months prior to such Adjustment Date; provided, however, that in no event shall any such adjustment result in a decrease in Minimum Annual Rent or in an increase of Minimum Annual Rent in excess of three percent (3 %) per annum on a cumulative and compounding basis. For purposes of this Lease, the “Index” shall mean the Consumer Price Index published by the United States Department of AmericaLabor, Bureau of Labor Statistics (the “Bureau”) “All Items” for All Urban Consumers in the Xxx Xxxxxxxxx-Xxxxxxx-Xxx Xxxx xxxxxxxxxxxx area, (1982-84=100). Should the Bureau discontinue the publication of the Index, publish the same less frequently or alter the same in some other manner, the most nearly comparable index or procedure as determined by Landlord shall be substituted therefor. The Minimum Annual Rent as adjusted shall be the Minimum Annual Rent until the next Adjustment Date. Minimum Annual Rent shall be payable in equal monthly installments installments, in advance during the said term of this Lease in sums of Eight Thousand Twenty and 83/100 Dollars ($8,020.83) advance, on or before the first (1st) day of each month, rent to begin from the Lease Commencement Date, the first installment to be paid on without prior demand and without offset or before the Lease Commencement Date, subject to the requirements of subparagraph 2 deduction (Cexcept as expressly and specifically provided in this Lease), supra. The first installment of Minimum Annual Rent to be made during commencing on the occupancy of the Premises shall be adjusted to pro rate a partial month of occupancy, if any, at the inception of this Lease at the rate of Minimum Annual Rent in effect during the first Lease Year, i.e., the period of twelve (12) calendar months following the Lease Commencement Date. If Should the date of commencement of the term of this Lease shall Commencement Date be a day other than the first (1st) day of the a calendar month, then the term monthly installment of this Lease Minimum Annual Rent for the first partial month shall be deemed extended by equal to one-thirtieth (l/30th) of the number monthly installment of days between Minimum Annual Rent for each day from the Lease Commencement Date and to the last day of said month, so that the term of this Lease shall expire five (5) years after such first day end of the first calendar month following the Lease Commencement Date, unless extended or previously terminated, as herein set forthpartial month.

Minimum Annual Rent. The minimum annual rent (Tenant shall pay as "Minimum Annual Rent") payable by Lessee to Lessor shall be Ninety-Six Thousand Two Hundred Fifty and 00/100 " for the Premises the sum of Twelve Dollars ($96,250.0012.00) per yearsquare foot of Floor Area within the Premises, lawful money provided that the Minimum Annual Rent shall be adjusted on each yearly anniversary of the Commencement Date occurring during the Term, as the Term may be extended by the Option Term(s) pursuant hereto, if applicable (each such yearly anniversary date referred to herein as an "Adjustment Date"), to equal the product obtained by multiplying the Minimum Annual Rent in effect immediately prior to the applicable Adjustment Date by a fraction, the numerator of which is the "Index" (as hereinafter defined) for the calendar month which is three (3) full calendar months prior to such Adjustment Date and the denominator of which is the Index which is fifteen (15) full calendar months prior to such Adjustment Date; provided, however, that in no event shall any such adjustment result in a decrease in Minimum Annual Rent or in an increase of Minimum Annual Rent in excess of three percent (3%) per annum on a cumulative and compounding basis. For purposes of this Lease, the "Index" shall mean the Consumer Price Index published by the United States Department of AmericaLabor, Bureau of Labor Statistics (the "Bureau") "All Items" for All Urban Consumers in the San Xxxxxxxxx-Xxxxxxx-Xxx Xxxx xxxxxxxxxxxx xxxx, (1982-84 = 100). Should the Bureau discontinue the publication of the Index, publish the same less frequently or alter the same in some other manner, the most nearly comparable index or procedure as determined by Landlord shall be substituted therefor. The Minimum Annual Rent as adjusted shall be the Minimum Annual Rent until the next Adjustment Date. Minimum Annual Rent shall be payable in equal monthly installments installments, in advance during the said term of this Lease in sums of Eight Thousand Twenty and 83/100 Dollars ($8,020.83) advance, on or before the first (1st) day of each month, rent to begin from the Lease Commencement Date, the first installment to be paid on without prior demand and without offset or before the Lease Commencement Date, subject to the requirements of subparagraph 2 deduction (Cexcept as expressly and specifically provided in this Lease), supra. The first installment of Minimum Annual Rent to be made during commencing on the occupancy of the Premises shall be adjusted to pro rate a partial month of occupancy, if any, at the inception of this Lease at the rate of Minimum Annual Rent in effect during the first Lease Year, i.e., the period of twelve (12) calendar months following the Lease Commencement Date. If Should the date of commencement of the term of this Lease shall Commencement Date be a day other than the first (1st) day of the a calendar month, then the term monthly installment of this Lease Minimum Annual Rent for the first partial month shall be deemed extended by equal to one-thirtieth (1/30th) of the number monthly installment of days between Minimum Annual Rent for each day from the Lease Commencement Date and to the last day of said month, so that the term of this Lease shall expire five (5) years after such first day end of the first calendar month following the Lease Commencement Date, unless extended or previously terminated, as herein set forthpartial month.

Minimum Annual Rent. The minimum annual rent ("Tenant covenants and agrees to pay to Landlord, without set-off or deduction, the Minimum Annual Rent") payable by Lessee to Lessor Rent during each year of the Term of the Lease. Such Minimum Annual Rent shall be Ninety-Six Thousand Two Hundred Fifty and 00/100 Dollars ($96,250.00) per year, lawful money of the United States of America, payable in monthly installments equal Minimum Monthly Rent Installments, in advance during the said term of this Lease in sums of Eight Thousand Twenty and 83/100 Dollars ($8,020.83) advance, on the first day of each monthand every calendar month during the Term of this Lease, at the Landlord’s Address, or at such other place as Landlord shall from time to time designate by notice. by check drawn on a bank which is a member of the Boston or New York Clearing House Association; provided, however, the Minimum Annual Rent for the Original Leased Premises shall commence on the Rent Commencement Date and additional rent to begin from and all other charges for the Original Leased Premises (exclusive of Tenant’s Electricity Charge for the Original Leased Premises, which shall commence the beginning of the 2nd year of the Lease Commencement Date, the first installment Term) required to be paid under this Lease shall commence on or before the Lease Commencement Date; and further provided, subject to however, the requirements of subparagraph 2 (C), supra. The first installment of Minimum Annual Rent for the First Amendment Leased Premises shall commence on the First Amendment Rent Commencement Date and additional rent and all other charges for the First Amendment Leased Premises (including the Tenant’s Electricity Charge for the First Amendment Leased Premises) required to be made during paid under this Lease, as amended by the occupancy First Amendment of Lease, shall commence on the Premises shall be adjusted to pro rate a partial month of occupancy, if any, at the inception of this Lease at the rate of First Amendment Commencement Date. Minimum Annual Rent in effect and additional rent and all other charges required to be paid under this Lease for any partial month during the first Lease Year, i.e., Term (whether for the period of twelve (12Original Leased Premises or for the First Amendment Leased Premises) calendar months following the Lease Commencement Dateshall be prorated on a daily basis. If the date of commencement of the term of this Lease shall be Minimum Annual Rent commences on a day other than the first day of the a calendar month, then the term of this Lease first payment that Tenant shall make to Landlord shall be deemed extended by payable on the number of days between the Lease Commencement Date date Minimum Annual Rent commences and the last day of said month, so that the term of this Lease shall expire five (5) years after such first day be equal to a proportionate part of the first monthly installment of Minimum Annual Rent for the partial month in which Minimum Annual Rent commences plus the Minimum Monthly Rent Installment due for the succeeding calendar month following the Lease Commencement Date, unless extended or previously terminated, as herein set forthmonth.”