Adjustments to Minimum Annual Guarantee. On each MAG Adjustment Date, the Minimum Annual Guarantee will be adjusted if the Comparison Index exceeds the Base Index. The Minimum Annual Guarantee with respect to the Upcoming Lease Year shall then be increased to equal the following amount: Notwithstanding anything to the contrary herein, in no event will the Minimum Annual Guarantee for any Lease Year of the Term be lower than the Minimum Annual Guarantee with respect to the prior Lease Year. The first MAG adjustment Date shall occur on January 1st after the first full year following the Rent Commencement Date. For example: If the Rent Commencement Date occurs on March 1, 2010, the first MAG Adjustment Date shall occur on January 1, 2012. Subsequent MAG adjustments shall occur every January 1st of each year thereafter.
Adjustments to Minimum Annual Guarantee. On each MAG Adjustment Date, the Minimum Annual Guarantee will be adjusted such that the Minimum Annual Guarantee with respect to the upcoming Lease Year shall be increased to equal the following amount: Notwithstanding anything to the contrary herein, in no event will the Minimum Annual Guarantee for any Lease Year be lower than the Minimum Annual Guarantee with respect to the prior Lease Year.
Adjustments to Minimum Annual Guarantee. Effective on each anniversary of the Rent Commencement Date, commencing with the second lease year, the minimum annual guarantee shall equal 8.5% of the operators Gross Revenues with respect to the twelve month period immediately preceding such anniversary. However, in no event will the minimum annual guarantee be less than the MAG for the first year of the term.
Adjustments to Minimum Annual Guarantee. Effective each MAG Adjustment Date, the Minimum Annual Guarantee will be adjusted to equal the greater of: (a) an amount calculated by multiplying .85 times the total “Base Rent” due for the immediately prior Lease Year, or (b) the Minimum Annual Guarantee for the immediately prior Lease Year. Notwithstanding anything to the contrary herein, in no event will the Minimum Annual Guarantee for any Lease Year of the Term be lower than the Minimum Annual Guarantee with respect to the prior Lease Year. The amount of the Minimum Annual Guarantee for each Lease Year following the initial Lease Year shall be adjusted as provided above upon the submission of Tenant’s Annual Report pursuant to Section 4.7, but not later than one hundred twenty (120) days after the end of the immediately preceding Lease Year. The first MAG adjustment Date shall occur on the anniversary of the Full Rent Commencement Date. For example: If the Full Rent Commencement Date occurs on March 1, 2010, the first MAG Adjustment Date shall occur on March 1, 2011 and every March 1 thereafter until expiration of the Lease term.
Adjustments to Minimum Annual Guarantee. On each MAG Adjustment Date, the Minimum Annual Guarantee will be adjusted such that the Minimum Annual Guarantee with respect to the upcoming Lease Year shall be increased to equal the following amount: Notwithstanding anything to the contrary herein, in no event will the Minimum Annual Guarantee for any Lease Year be lower than the Minimum Annual Guarantee with respect to the prior Lease Year. The first MAG adjustment Date shall occur on the anniversary of the Full Rent Commencement Date. For example: If the Full Rent Commencement Date occurs on March 1, 2015, the first MAG Adjustment Date shall occur on March 1, 2016 and every March 1 thereafter.
Adjustments to Minimum Annual Guarantee. Effective each MAG Adjustment Date, the Minimum Annual Guarantee will be adjusted to equal the greater of: (a) an amount calculated by multiplying .85 times the total “Base Rent” due for the immediately prior Lease Year, or (b) the Minimum Annual Guarantee for the immediately prior Lease Year. Notwithstanding anything to the contrary herein, in no event will the Minimum Annual Guarantee for any Lease Year of the Term be lower than the Minimum Annual Guarantee with respect to the prior Lease Year. The amount of the Minimum Annual Guarantee shall be adjusted as provided above upon the submission of Tenant’s Annual Report pursuant to Section 4.7, but not later than one hundred twenty (120) days after the end of the immediately preceding Lease Year. The first MAG adjustment Date shall occur January 1st after the first full Lease Year. For example: If the first Rent Commencement Date occurs on March 1, 2010, the first MAG Adjustment Date shall occur on January 1, 2012 and every January 1st thereafter.
Adjustments to Minimum Annual Guarantee. On each MAG Adjustment Date, the Minimum Annual Guarantee will be adjusted, as follows: if (a) the Comparison Index shall exceed the Base Index, and (b) Comparison Year Enplanements equal or exceed Base Year Enplanements, then the Minimum Annual Guarantee with respect to the upcoming Lease Year shall be increased to equal the following amount: If (i) the Comparison Index shall exceed the Base Index, and (ii) Comparison Year Enplanements are less than Base Year Enplanements, then the Minimum Annual Guarantee with respect to the upcoming Lease Year shall be increased to equal the following amount: Initial MAG x Comparison Index x Comparison Year Enplanements Base Index Base Year Enplanements Notwithstanding anything to the contrary herein, in no event will the Minimum Annual Guarantee for any Lease Year of the Term be lower than the Minimum Annual Guarantee with respect to the prior Lease Year.
