We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
Facts: A shoe store tenant signed a 10-year lease with a mall. Under the lease, the tenant was required to pay minimum monthly rent plus 5 percent of its annual gross sales over $1.1 million. A “kickout” provision in the lease allowed the tenant to terminate it early if the gross sales did not exceed that amount in the fifth year of the lease.
