Investment Grade Tenant means any tenant under a net lease of a Borrowing Base Property that has a rating of BBB- or better from S&P or Baa3 from Moodys.
Investment Grade Tenant means a tenant that is rated Aaa to Baa3 by MIS and/or AAA to BBB- by S&P;
Investment Grade Tenant means a tenant that has (or the parent entity of which has) an Investment Grade Rating (provided that the credit rating of the parent entity shall qualify a tenant as an Investment Grade Tenant only if such tenant’s obligations under its lease are guaranteed by such parent entity); provided that each Xxxxxx Tenant shall be deemed to be an Investment Grade Tenant if Xxxxxx guaranties the obligations of such Xxxxxx Tenant under its lease and Xxxxxx maintains a credit rating of (i) BB+ or higher by S&P, (ii) Ba1 or higher by Moody’s or (iii) BB+ or higher by Fitch.
Examples of Investment Grade Tenant in a sentence
NNN Lease - No Early Termination Clause.• Investment Grade Tenant: Starbucks has a S&Prating of BBB+.
Investment Highlights Investment Grade Tenant Walgreens (NASDAQ: WBA; S&P: BBB/Stable) is the largest drugstore chain in the U.S., reporting fiscal 2018 sales of more than $131.54 billion.
There are fifteen golf courses within thirty miles, two of them in Cheraw.» Lack of Competition – Only CVS in Cheraw, SC, next closest freestanding pharmacy with a drive-thru is over 15 miles away.» Largest U.S. Pharmacy – In 2017, CVS Health Corporation prescription revenue was an estimated $98.1 billion, a 23.8% market share.| 3» Nationally Recognized Investment Grade Tenant – Lease is fully guaranteed by CVS Health Corporation (S&P’s rated BBB+ & Moody’s rated Baa2).
More Definitions of Investment Grade Tenant
Investment Grade Tenant means a tenant that has (or the parent entity of which has) an Investment Grade Rating ( provided that the credit rating of the parent entity shall qualify a tenant as an Investment Grade Tenant only if such tenant’s obligations under its lease are guaranteed by such parent entity); provided that each Darden Tenant shall be deemed to be an Investment Grade Tenant if Darden guaranties the obligations of such Darden Tenant under its lease and Darden maintains a credit rating of (i) BB+ or higher by S&P, (ii) Ba1 or higher by Moody’s or (iii) BB+ or higher by Fitch.
Investment Grade Tenant means either (i) a Tenant that, as of the date of determination, has an Investment Grade Rating, (ii) a Tenant whose Lease is guaranteed by a lease guarantor that, as of the date of determination, has an Investment Grade Rating, or (iii) a Tenant which is a subsidiary of FedEx Corporation provided that, as of the date of determination, FedEx Corporation has an Investment Grade Rating.
Investment Grade Tenant means (a) a tenant with a Debt Rating of at least Baa3 or better from Moody’s and/or BBB- or better from S&P (it being understood that in the event there is a discrepancy between the Moody’s rating and the S&P rating, the higher of the two ratings will be utilized) or (b) a tenant that is a Wholly-Owned Subsidiary of an entity that meets such ratings requirement provided that such entity has guaranteed such tenant’s obligations under the applicable lease, which guaranty is reasonably acceptable in form and substance to the Administrative Agent . “ IRS ” means the United States Internal Revenue Service.
Investment Grade Tenant means shall mean a tenant under a Lease whose short term unsecured debt obligations or commercial paper or long term unsecured debt obligations are rated BBB- (or its equivalent) or better by S&P or Baa3 (or its equivalent) or better by Moody’s, and, if rated by both S&P and Moody’s, then rated BBB- (or its equivalent) or better by S&P and Baa3 (or its equivalent) or better by Moody’s. A tenant shall also be deemed to be an Investment Grade Tenant to the extent the applicable Lease is guaranteed by an entity meeting the foregoing criteria.
Investment Grade Tenant means (a) a tenant with a long term senior unsecured debt rating of Baa1 or better as rated by Moody’s (or an equivalent shadow rating using Moody’s ratings grid) or BBB- or better as rated by S&P (it being understood that in the event there is a discrepancy between the Mxxxx’x rating and the S&P rating, the higher of the two ratings will be utilized) or (b) a tenant that is a subsidiary of an entity that meets such ratings requirement provided that such entity has guaranteed such tenant’s obligations under the applicable lease, which guaranty is reasonably acceptable in form and substance to the Administrative Agent.
Investment Grade Tenant means (a) a tenant with a long term senior unsecured debt rating of Baa3 or better as rated by Mxxxx’x (or an equivalent shadow rating using Mxxxx’x rating grid) or BBB- or better as rated by S&P (it being understood that in the event there is a discrepancy between the Mxxxx’x rating and the S&P rating, the higher of the two ratings will be utilized), (b) a tenant for which the Borrower has delivered a certificate to the Administrative Agent, signed by a Financial Officer of the Borrower, certifying that the Borrower considers such tenant to be of an equivalent credit quality to a tenant satisfying clause (a) above, and (c) a tenant that is a subsidiary of an entity that meets such ratings requirement in either clause (a) or (b) above; provided that such entity has guaranteed such tenant’s obligations under the applicable lease which guaranty is reasonably acceptable in form and substance to the Administrative Agent; and provided further that, the number of individual Investment Grade Tenants included pursuant to clause (b) and subsidiaries of such tenants pursuant to clause (c) shall not exceed 50% of the aggregate number of individual Investment Grade Tenants.
Investment Grade Tenant means a tenant (other than OfficeMax, Walgreens and Merchants Tire) which has an S & P rating of BBB- or better.