Common use of Adjustments to Minimum Annual Guarantee Clause in Contracts

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: Initial MAG x Comparison Index Base Index 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 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: Initial MAG x Comparison Index Base Index 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 MAG 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.