Qualifying Lease means a lease agreement entered into by a D&I Subsidiary, as lessor, to lease the real property owned by such D&I Subsidiary upon completion of construction thereof to the extent that (a) the senior unsecured non-credit-enhanced long-term debt of the tenant or the guarantor of the tenant’s obligations under such lease is rated BBB- or higher by S&P or Baa3 or higher by Moody’s, (b) the obligation of such tenant to accept possession of such real property and begin paying rent under such lease is not subject to any material condition other than (i) completion of construction in accordance with all requirements of applicable law and approved plans and specifications and on or before a date certain and (ii) issuance of a certificate of occupancy, (c) such lease has a non-cancelable primary term of 10 years or more and (d) such tenant has not failed or refused to perform under such lease agreement or notified TCC or the applicable D&I Subsidiary of its intention to not perform under such lease agreement (provided that the failure of one (but not more than one) tenant under a Qualifying Lease to meet the ratings criteria set forth in clause (a) above shall not result in the disqualification of such lease as a Qualifying Lease so long as, at the time such lease was entered into, such ratings criteria were satisfied, and such tenant only fails to satisfy such ratings criteria due to subsequent rating downgrades).

Qualifying Lease means any lease which is a new tenancy for the purposes of section 1 of the Landlord and Tenant (Covenants) Act 1995 other than a residential lease, namely a lease by which a building or part of a building is let wholly or mainly as a single private residence; and

Qualifying Lease means a Lease to a Tenant that is in occupancy at the Property, open for business at the Property, not in default under its Lease and not the subject of a bankruptcy or similar insolvency proceedings (unless such Tenant has assumed such Lease in bankruptcy).

Examples of Qualifying Lease in a sentence

During the Leasing Period, the Owners shall be permitted to obtain prospective Tenants for the Subject Spaces and negotiate new leases for the Subject Spaces, provided that the rent under said leases is not less than $18.00 per square foot per annum, and the terms of any such leases are consistent with the Owners' past practices of leasing space at the Premises (a "Qualifying Lease").
Each Postal Lease for each Borrowing Base Property is a Qualifying Lease.
If Buyer elects to deliver shares of Buyer Common Stock, the number of shares shall be determined by dividing the Qualifying Lease Value on the Qualifying Lease Payment Date by the weighted average daily closing price for the shares of Buyer Common Stock as quoted on the Nasdaq National Market and reported to The Wall Street Journal during the period of thirty consecutive trading days ending on the third business day prior to the Qualifying Lease Payment Date.
A Delta TI in excess of $8.00 per square foot will not be considered a Qualifying Lease.
In the event that the tenant improvement allowance for a particular Vacant Suite differs from the Vacant Suite TI Allowance (that amount being the “Delta TI”) the minimum base rent for a Qualifying Lease will be adjusted as follows: For a Delta TI less than the Vacant Suite TI Allowance, the minimum base rent could be adjusted downwards by $.008 per square foot per month per $1.00 of Delta TI.

More Definitions of Qualifying Lease

Qualifying Lease means all Leases other than (i) Leases to a Tenant that is not in occupancy at the Property and open for business at the Property and (ii) Leases to a Tenant that is in default under its Lease or is the subject of bankruptcy or similar insolvency proceedings (to the extent that such Tenant has not assumed such Lease in bankruptcy).

Qualifying Lease means a lease for less than 50,000 square feet.

Qualifying Lease means a lease granted by the person chargeable to a qualifying tenant;

Qualifying Lease means a lease agreement entered into by a D&I Subsidiary, as lessor, to lease the real property owned by such D&I Subsidiary upon completion of construction thereof to the extent that (a) the senior unsecured non-credit-enhanced long-term debt of the tenant or the guarantor of the tenant’s obligations under such lease is rated BBB- or higher by S&P or Baa3 or higher by Moody’s, (b) the obligation of such tenant to accept possession of such real property and begin paying rent under such lease is not subject to any material condition other than (i) completion of construction in accordance with all requirements of applicable law and approved plans and specifications and on or before a date certain and (ii) issuance of a certificate of occupancy, (c) such lease has a non-cancelable primary term of 10 years or more and (d) such tenant has not failed or refused to perform under such lease agreement or notified TCC or the applicable D&I Subsidiary of its intention to not perform under such lease agreement ( provided that the failure of one (but not more than one) tenant under a Qualifying Lease to meet the ratings criteria set forth in clause (a) above shall not result in the disqualification of such lease as a Qualifying Lease so long as, at the time such lease was entered into, such ratings criteria were satisfied, and such tenant only fails to satisfy such ratings criteria due to subsequent rating downgrades).

Qualifying Lease means a lease granted by the person chargeable to a tenant residing in a residential property;

Qualifying Lease means a Lease that (i) (A) is an Approved Lease and (B) when considered together with all other Qualifying Leases other than the Bank One Lease, provides for an average base rental rate (weighted pro rata to the area of the applicable leased premises) of at least $22.50 per NRSF, which rate assumes that the Tenant under the applicable Qualifying Lease must pay its pro rata share (payable on a “net” basis) of Taxes and Operating Expenses or (ii) the Agent otherwise approves as a Qualifying Lease.