Examples of Qualifying Leases in a sentence
The determination of the arbitrator shall be limited solely to the issue of whether Landlord’s or Tenant’s last submitted FMRR (as contained in the sealed envelope exchanged between the parties as hereinabove provided) for the Premises is the closer to the actual rental rate per RSF for Qualifying Leases within the market Determination period for Comparative Transactions.
The Base Rent per RSF payable for the Option Term shall be equal to the then-current rental rate per RSF (as further defined below, “FMRR”) being agreed to by institutional or comparably creditworthy, portfolio-managed, owners (“Comparable Landlords”) of comparable South of Market properties in San Francisco, California (the “Comparable Buildings”), with Qualifying Leases in Comparable Buildings during the Market Determination Period, in each case on a full service gross lease basis.
As used herein:"Annual NOI" shall mean, as of the Closing Date, (x) the annual minimum basic rent required to be paid by the tenants under the Qualifying Leases for the twelve (12) month period commencing on the month next following the Closing Date, (y) minus "Expense Adjustments" as of the Closing Date.
Tenant and Landlord agree to extend the expiration date of one of the Qualifying Leases to achieve the minimum eighteen (18) month expiration date separation.
In addition, many physicians split time across multiple hospitals or clinics, making it difficult to assign them to a particular location and increasing the number of possible alternatives patients face while choosing physicians.