Common use of Minimum Annual Rent Clause in Contracts

Minimum Annual Rent. Tenant shall pay Minimum Annual Rent in twelve (12) equal monthly installments during the Lease Term, in advance, on the first day of each calendar month, without setoff, deduction, prior notice or demand. Notwithstanding anything to the contrary contained herein, if the 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 Landlord 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 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 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 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 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 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 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 accordance with Article 1, and Article 4, Section 4.2 of this Lease (followed by actual compliance therewith). Upon such termination, both Landlord and Tenant shall be released from any further liability under this Lease.

Minimum Annual Rent. Tenant shall pay The minimum annual rent ("Minimum Annual Rent Rent") payable by Lessee to Lessor shall be Two Hundred Twelve Thousand Five Hundred Twenty Dollars ($212,520.00) per year, lawful money of the United States of America, payable in twelve (12) equal monthly installments in advance during the said term of this Lease Term, in advance, sums of Seventeen Thousand Seven Hundred Ten Dollars ($17,710.00) on the first day of each calendar month, without setoffrent to begin from the Lease Commencement Date, deduction, prior notice or demand. Notwithstanding anything the first installment to the contrary contained herein, if the 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 paid at the time Minimum Annual Rent and Percentage Rent is abated, Tenant shall pay to Landlord 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 period the Minimum Annual Rent and Percentage Rent is abated, Tenant shall pay all other charges called for in the manner provided for in signing this Lease. The provisions first installment 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 to be made during the occupancy of the provisions Premises shall be adjusted to pro rate a partial month of occupancy, if any, at the inception of this paragraph. Notwithstanding anything to Lease at 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 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%) rate 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 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 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 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 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 accordance with Article 1effect during the first Lease Year, and Article 4i.e., Section 4.2 the period of twelve (12) calendar months following the Lease Commencement Date. If the date of commencement of the term of this Lease (followed by actual compliance therewith). Upon such termination, both Landlord and Tenant shall be released from any further liability under a day other than the first day of the calendar month, then the term of this LeaseLease 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. Tenant shall covenants and agrees to pay to Landlord, without set-off or deduction, the Minimum Annual Rent during each year of the Term of the Lease. Such Minimum Annual Rent shall be payable in twelve (12) equal monthly installments during the Lease TermMinimum Monthly Rent Installments, in advance, on the first day of each and every calendar monthmonth during the Term of this Lease, without setoffat the Landlord’s Address, deduction, prior notice or demandat such other place as Landlord shall from time to time designate by notice. Notwithstanding anything to the contrary contained herein, if the initial opening by check drawn on a bank which is a member of the Shopping Center has not occurred on Boston or before September 1New York Clearing House Association; provided, 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 Landlord 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 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 11.1however, the Minimum Annual Rent for the Original Leased Premises shall commence on the Rent Commencement Date and Percentage Rent set forth in Article 1 additional rent and all other charges for every day Tenant is not open regardless the Original Leased Premises (exclusive of Tenant’s Electricity Charge for the Original Leased Premises, which shall commence the beginning of the provisions 2nd year of the Lease Term) required to be paid under this paragraph. Notwithstanding anything to the contrary contained herein, it is agreed that commencing Lease shall commence on the thirtieth (30th) day following the date Tenant has opened for business Commencement Date; and so long as Tenant continuously remains open for businessfurther provided, however, the Minimum Annual Rent set forth in Article 1 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 abated until such time (paid under this Lease, as amended by the foregoing period is referred to as First Amendment of Lease, shall commence on 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 CenterFirst Amendment Commencement Date. 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 additional rent and all other charges called for in the manner provided for in required to be paid under this Lease except Minimum Annual Rent. The foregoing abatement shall in no event change or modify for any partial month during the Rent Commencement Date. Then, after the conditions Term (whether for the Initial Abatement Period have been satisfied and so long as Tenant continuously remains open Original Leased Premises or for business, the First Amendment Leased Premises) shall be prorated on a daily basis. If Minimum Annual Rent set forth in Article 1 commences on a day other than the first day of a calendar month, the first payment that Tenant shall make to Landlord shall be abated during any period ("On-Going Abatement Period") in which less than seventy percent (70%) of payable on 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 date Minimum Annual Rent otherwise payable or (ii) the amount commences and shall be equal to five percent (5%) a proportionate part of Tenant's Gross Sales the monthly in arrears on or before the twentieth (20th) day installment of each month, and further provided that during the 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 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 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 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 for the partial month in accordance with Article 1, and Article 4, Section 4.2 of this Lease (followed by actual compliance therewith). Upon such termination, both Landlord and Tenant shall be released from any further liability under this Leasewhich Minimum Annual Rent commences plus the Minimum Monthly Rent Installment due for the succeeding calendar month.”

Minimum Annual Rent. Tenant shall pay The minimum annual rent ("Minimum Annual Rent 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 twelve (12) equal monthly installments in advance during the said term of this Lease Term, in advance, sums of Eight Thousand Twenty and 83/100 Dollars ($8,020.83) on the first day of each calendar month, without setoffrent to begin from the Lease Commencement Date, deduction, prior notice or demand. Notwithstanding anything the first installment to the contrary contained herein, if the 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 Landlord the amount equal to five percent (5%) of Tenant's Gross Sales monthly in arrears paid on or before the twentieth Lease Commencement Date, subject to the requirements of subparagraph 2 (20th) day C), supra. The first installment of each month, and further provided that during the period the Minimum Annual Rent and Percentage Rent is abatedto be made during the occupancy of the Premises shall be adjusted to pro rate a partial month of occupancy, Tenant shall pay all other charges called for in if any, at the manner provided for in this Lease. The provisions inception of this Section 4.2 shall in no event change or modify Lease at 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 rate 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 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 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 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 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 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 accordance with Article 1effect during the first Lease Year, and Article 4i.e., Section 4.2 the period of twelve (12) calendar months following the Lease Commencement Date. If the date of commencement of the term of this Lease (followed by actual compliance therewith). Upon such termination, both Landlord and Tenant shall be released from any further liability under a day other than the first day of the calendar month, then the term of this LeaseLease 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. Tenant shall pay Minimum Annual Rent in twelve (12) equal monthly installments during each year of the Lease Term, in advance, on the first day of each calendar month, without setoff, deduction, prior notice or demand. Notwithstanding anything to the contrary contained herein, if the 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 Landlord 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 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 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 seventy-five percent (7075%) of the total leasable Floor Area available for Mall Tenants in the Shopping Center. Until such time as the aforementioned contingencies have 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 five seven percent (57%) 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 seventy-five percent (7075%) of the total leasable 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 seven percent (57%) of Tenant's Gross Sales monthly in arrears on or before the twentieth (20th) day of each month, and further provided that during the 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 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 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 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 accordance with Article 1, and Article 4, Section 4.2 of this Lease (followed by actual compliance therewith). Upon such termination, both Landlord and Tenant shall be released from any further liability under this Lease.

Minimum Annual Rent. Tenant shall pay as "Minimum Annual Rent" for the Premises the sum of Twelve Dollars ($12.00) per square foot of Floor Area within the Premises, 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 twelve effect immediately prior to the applicable Adjustment Date by a fraction, the numerator of which is the "Index" (12as 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 Labor, 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 during the Lease Terminstallments, in advance, on the first day of each calendar month, without setoff, deduction, prior notice or demand. Notwithstanding anything to the contrary contained herein, if the 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 Landlord the amount equal to five percent (5%) of Tenant's Gross Sales monthly in arrears on or before the twentieth first (20th1st) day of each month, without prior demand and further without offset or deduction (except as expressly and specifically provided that during in this Lease), commencing on the period Commencement Date. Should the Commencement Date be a day other than the first (1st) day of a calendar month, then the monthly installment of Minimum Annual Rent and Percentage Rent is abated, Tenant for the first partial month shall pay all other charges called for in be equal to one-thirtieth (1/30th) of the manner provided for in this Lease. The provisions monthly installment 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 each day Tenant is not open regardless of from the provisions of this paragraph. Notwithstanding anything Commencement Date 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 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 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 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 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 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 accordance with Article 1, and Article 4, Section 4.2 of this Lease (followed by actual compliance therewith). Upon such termination, both Landlord and Tenant shall be released from any further liability under this Leasepartial month.

Minimum Annual Rent. Tenant shall pay as “Minimum Annual Rent” for the Premises the sum of Twelve Dollars ($12.00) per square foot of Floor Area within the Premises, 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 twelve effect immediately prior to the applicable Adjustment Date by a fraction, the numerator of which is the “Index” (12as 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 Labor, 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 during the Lease Terminstallments, in advance, on the first day of each calendar month, without setoff, deduction, prior notice or demand. Notwithstanding anything to the contrary contained herein, if the 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 Landlord the amount equal to five percent (5%) of Tenant's Gross Sales monthly in arrears on or before the twentieth first (20th1st) day of each month, without prior demand and further without offset or deduction (except as expressly and specifically provided that during in this Lease), commencing on the period Commencement Date. Should the Commencement Date be a day other than the first (1st) day of a calendar month, then the monthly installment of Minimum Annual Rent and Percentage Rent is abated, Tenant for the first partial month shall pay all other charges called for in be equal to one-thirtieth (l/30th) of the manner provided for in this Lease. The provisions monthly installment 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 each day Tenant is not open regardless of from the provisions of this paragraph. Notwithstanding anything Commencement Date 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 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 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 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 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 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 accordance with Article 1, and Article 4, Section 4.2 of this Lease (followed by actual compliance therewith). Upon such termination, both Landlord and Tenant shall be released from any further liability under this Leasepartial month.