Common use of Minimum Monthly Rent Clause in Contracts

Minimum Monthly Rent. (a) The Minimum Monthly Rent at the beginning of the first option term shall be adjusted to the then “Fair Market Rental Rate,” however in no event shall the Minimum Monthly Rent at the beginning of the first option term be less than the Minimum Monthly Rent payable for the last month of the initial Term. The Minimum Monthly Rent at the beginning of the second option term shall be adjusted to the then “Fair Market Rental Rate,” however in no event shall the Minimum Monthly Rent at the beginning of the second option term be less than the Minimum Monthly Rent payable for the last month of the first option term. (b) For purposes of this Lease, the term “Fair Market Rental Rate” shall mean the annual amount per rentable square foot that landlords have agreed to under binding leases with non-affiliated non-equity tenants for comparable space, for a comparable use, for a comparable period of time in the Goleta valley area (“Comparable Transactions”). In any determination of Comparable Transactions appropriate consideration shall be given to the annual rental rates per rentable square foot, the type of escalation clause (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), abatement provisions reflecting free rent or no rent during the period of construction or subsequent to the commencement date as to the space in question, length of the lease term, size and location of premises being leased, and other generally applicable conditions of tenancy for such Comparable Transactions.

Minimum Monthly Rent. (a) The Minimum Monthly Rent at the beginning of the first option term shall be adjusted to the then “Fair Market Rental Rate,” however in no event shall the Minimum Monthly Rent rent at the beginning of the first option term be less than the Minimum Monthly Rent payable for rent paid in the last month of the initial third year of the Initial Term, as adjusted pursuant to Section E.2 of the Basic Provisions of the Lease. The Minimum Monthly Rent at the beginning of the second option term shall be adjusted to the then “Fair Market Rental Rate,” however in no event shall the Minimum Monthly Rent rent at the beginning of the second option term be less than the Minimum Monthly Rent payable for rent paid in the last month term immediately preceding the second option term, as adjusted pursuant to Section E.2 of the first option termBasic Provisions of the Lease. (b) For purposes of this Lease, the term “Fair Market Rental Rate” shall mean the annual amount per rentable square foot that landlords have agreed to under binding leases with Landlord has accepted in current transactions between non-affiliated parties from renewal and non-equity tenants for comparable space, for a comparable use, for a comparable period of time in the Goleta valley area (“Comparable Transactions”)) in the Project and what a comparable landlord of a comparable building with comparable vacancy factors would accept in Comparable Transactions. In any determination of Comparable Transactions appropriate consideration shall be given to the annual rental rates per rentable square foot, the type of escalation clause (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), abatement provisions reflecting free rent or and/or no rent during the period of construction or subsequent to the commencement date as to the space in question, length of the lease term, size and location of premises being leased, and other generally applicable conditions of tenancy for such Comparable Transactions.

Minimum Monthly Rent. (a) The Minimum Monthly Rent at the beginning of the first option term shall be adjusted to the then “Fair Market Rental Rate,” however in no event shall the Minimum Monthly Rent rent at the beginning of the first option term be less than the Minimum Monthly Rent payable for rent paid in the last month of the initial third year of the Initial Term, as adjusted pursuant to Section E.2 of the Basic Provisions of the Lease. The Minimum Monthly Rent at the beginning of the second option term shall be adjusted to the then “Fair Market Rental Rate,” however in no event shall the Minimum Monthly Rent rent at the beginning of the second option term be less than the Minimum Monthly Rent payable for rent paid in the last month term immediately preceding the second option term, as adjusted pursuant to Section E.2 of the first option termBasic Provisions of the Lease. (b) For purposes of this Lease, the term “Fair Market Rental Rate” shall mean the annual amount per rentable square foot that landlords have agreed to under binding leases with nonnon- DOCSSB/108279v20/100382-1006 affiliated non-equity tenants for comparable space, for a comparable use, for a comparable period of time in the Goleta valley area (“Comparable Transactions”). In any determination of Comparable Transactions appropriate consideration shall be given to the annual rental rates per rentable square foot, the type of escalation clause (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), abatement provisions reflecting free rent or and/or no rent during the period of construction or subsequent to the commencement date as to the space in question, length of the lease term, size and location of premises being leased, and other generally applicable conditions of tenancy for such Comparable Transactions.

Minimum Monthly Rent. (a) The As of the date hereof, the schedule of Minimum Monthly Rent at for the beginning Original Premises set forth in the Lease is hereby deleted in its entirety and replaced with the following: *Subject to abatement, as described below. All such Minimum Monthly Rent shall be payable by Tenant in accordance with the terms of the first option term Lease, as amended hereby. Notwithstanding anything in this Section of the Amendment to the contrary, so long as Tenant is not in default under the Lease, as amended hereby, Tenant shall be adjusted entitled to an abatement of Minimum Monthly Rent in the then “Fair Market Rental Rate,” however in no event shall amount of $27,058.64 per month for the period beginning on August 1, 2005 and ending on November 30, 2005 (the "Minimum Monthly Rent Abatement Period"). The total amount of Minimum Monthly Rent abated during the Minimum Monthly Rent at Abatement Period shall equal $108,234.56 (the beginning of the first option term be less than "Abated Monthly Rent"). During the Minimum Monthly Rent payable for the last month of the initial Term. The Abatement Period, only Minimum Monthly Rent at shall be abated, and all Tenant’s Proportionate Share of Operating Costs, Insurance Costs and Taxes and other charges specified in the beginning Lease, as amended hereby, shall remain as due and payable pursuant to the provisions of the second option term shall be adjusted Lease, as amended hereby. In addition, Landlord acknowledges that, as of the date hereof, Tenant has paid to the then “Fair Market Rental Rate,” however in no event shall Landlord the Minimum Monthly Rent at due with respect to the beginning of the second option term be less than the Minimum Monthly Rent payable for the last month of August, 2005 (the first option term. “August Payment”), which amount reflects the rental rate in effect under the Lease (b) For purposes prior to the effectiveness of this Amendment). Landlord agrees that, following the date this Amendment is mutually executed and delivered by Landlord and Tenant, the August Payment shall be applied to the next Rent payments that become due under the Lease, the term “Fair Market Rental Rate” shall mean the annual amount per rentable square foot that landlords have agreed to under binding leases with non-affiliated non-equity tenants for comparable space, for a comparable use, for a comparable period of time in the Goleta valley area (“Comparable Transactions”). In any determination of Comparable Transactions appropriate consideration shall be given to the annual rental rates per rentable square foot, the type of escalation clause (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), abatement provisions reflecting free rent or no rent during the period of construction or subsequent to the commencement date as to the space in question, length of the lease term, size and location of premises being leased, and other generally applicable conditions of tenancy for such Comparable Transactionsamended hereby.

Minimum Monthly Rent. (a) The Minimum Monthly Rent at the beginning of the first option term shall be adjusted to the then “Fair Market Rental Rate,” however in no event shall the Minimum Monthly Rent rent at the beginning of the first option term be less than the Minimum Monthly Rent payable for rent paid in the last month of the initial Term. The Minimum Monthly Rent at the beginning fifth (5th) year of the second option term shall be adjusted to Initial Term including the then “Fair Market Rental Rate,” however in no event shall the Minimum Monthly Rent at the beginning of the second option term be less than the Minimum Monthly Rent payable for the last month of the first option termannual increase adjustment. (b) For purposes of this Lease, the term “Fair Market Rental Rate” shall mean the annual amount per rentable square foot or rent that landlords have agreed to under binding leases a comparable landlord, of a comparable building, with non-affiliated non-equity tenants for comparable spacevacancy factors, for a comparable term, and a comparable use, for a comparable period of time in the Goleta valley area would accept (“Comparable Transactions”). In any determination of Comparable Transactions appropriate consideration shall be given to the annual rental rates per rentable square footfoot within the Project as well as for comparable space in the market, the type of escalation clause (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), abatement provisions reflecting free rent or and/or no rent during the period of construction or subsequent to the commencement date as to the space in question, length of the lease term, size and location of premises being leased, and other generally applicable conditions of tenancy for such Comparable Transactions.. Landlord’s Initials Tenant’s Initials

Minimum Monthly Rent. (a) The Minimum Monthly Rent at the beginning of the first option term shall be adjusted to the then “Fair Market Rental Rate,” however in no event shall the Minimum Monthly Rent at the 32730.018 - 276230.10 4836-3652-8809v15/100382-1012 beginning of the first option term be less than the Minimum Monthly Rent payable for the last month of the initial Term. The Minimum Monthly Rent at the beginning of the second option term shall be adjusted to the then “Fair Market Rental Rate,” however in no event shall the Minimum Monthly Rent at the beginning of the second option term be less than the Minimum Monthly Rent payable for the last month of the first option term. (b) For purposes of this Lease, the term “Fair Market Rental Rate” shall mean the annual amount per rentable square foot that landlords have agreed to under binding leases with non-affiliated non-equity tenants for comparable space, for a comparable use, for a comparable period of time in the Goleta valley area (“Comparable Transactions”). In any determination of Comparable Transactions appropriate consideration shall be given to the annual rental rates per rentable square foot, the type of escalation clause (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), abatement provisions reflecting free rent or no rent during the period of construction or subsequent to the commencement date as to the space in question, length of the lease term, size and location of premises being leased, and other generally applicable conditions of tenancy for such Comparable Transactions.