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.
Appears in 4 contracts
Samples: Lease Agreement, Lease Agreement, Lease Agreement
