Physical Occupancy definition

Physical Occupancy means the percentage occupancy of a self-storage and/or mini-warehouse facility determined by dividing (x) the aggregate number of rentable square feet actually occupied by tenants at such facility by (y) the aggregate number of rentable square feet at such facility.
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Physical Occupancy means that Tenant shall not have entered into any assignment or entered into any subleases other than any transaction permitted under Section 12.07 of the Lease.
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Physical Occupancy meaning the first to occur of (A) the date Tenant or its contractors, agents or other representatives move any significant amount of materials, equipment or other items into any portion of the 27th Floor Space, or (B) the date any such parties commence performance of any of Tenant's Work within the 27th Floor Space), time being of the essence. The notice delivered by Tenant (herein, the "EXERCISE NOTICE") shall specify the exact area, configuration and location of the 27th Floor Space, as adjusted by the Contraction Space or Expansion Space (as the case may be), which Tenant desires to be included as part of the initial Premises hereunder; provided, however, that:
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Examples of Physical Occupancy in a sentence

  • If the Operating Partnership determines that the applicable Controlled Properties have both Economic Occupancy and Physical Occupancy consistent with or exceeding local market levels for self-storage and/or mini-warehouse facilities for such periods, then the Operating Partnership shall so notify the applicable Manager Parties pursuant to a written notice in accordance with the provisions of Section 8.4(b) below.

  • It does not represent actual rental revenue collected per unit.Average Physical OccupancyAverage Physical Occupancy represents the average of the daily physical occupancy for an applicable period.Development CommunitiesCommunities remain identified as development until certificates of occupancy are obtained for all units under development.

  • Average Physical OccupancyAverage Physical Occupancy represents the average of the daily physical occupancy for the quarter.

  • Average Physical OccupancyAverage Physical Occupancy represents the average of the daily physical occupancy for the respective period.Development CommunitiesCommunities remain identified as development until certificates of occupancy are obtained for all units under development.

  • Borrower shall not permit: (i) the aggregate Physical Occupancy Rate for all Unencumbered Properties to be less than eighty percent (80%), or (ii) the Economic Leasing Percentage to be less than seventy percent (70%) for each individual Unencumbered Property, or (iii) the average Hotel Occupancy Rate to be less than sixty percent (60%) for all Unencumbered Properties, which are hotel Properties, as of the last day of any fiscal quarter of the Companies.

  • Average Rental Rate increased 2.3% and Physical Occupancy remained flat at 96.0%.

  • CIM Urban REIT and Borrower shall not permit: (i) the aggregate Physical Occupancy Rate for all Unencumbered Properties to be less than eighty percent (80%), or (ii) the Economic Leasing Percentage to be less than seventy percent (70%) for each individual Unencumbered Property, or (iii) the average Hotel Occupancy Rate to be less than sixty percent (60%) for all Unencumbered Properties, which are hotel Properties, as of the last day of any fiscal quarter of the Companies.

  • Global Warehouse Economic and Physical Occupancy TrendNote: Dotted lines represent incremental economic occupancy percentage.We define average economic occupancy as the aggregate number of physically occupied pallets and any additional pallets otherwise contractually committed for a given period, without duplication.

  • Average Physical OccupancyAverage Physical Occupancy represents the average of the daily physical occupancy for an applicable period.Development CommunitiesCommunities remain identified as development until certificates of occupancy are obtained for all units under development.

  • Average Physical Occupancy for the Same Store Portfolio was strong at 96.1% for the fourth quarter of 2018, a slight decrease from 96.2% in the same period in the prior year.


More Definitions of Physical Occupancy

Physical Occupancy means physical occupancy based on sqm and excludes land and development; in per cent.
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Related to Physical Occupancy

  • Prior Occupancy means Owner’s use of all or parts of the Project before Substantial Completion, as more fully set forth in Section 6.08 A.

  • Transient occupancy means occupancy in transient lodging that has all of the following

  • Single Room Occupancy or “SRO” means housing consisting of single room dwelling units that is the primary residence of its occupant or occupants. An SRO does not include facilities for students.

  • Ready for Occupancy means the date upon which (i) the Leased Premises are available for Tenant's occupancy in a broom clean condition and (ii) the improvements, if any, to be made to the Leased Premises by Landlord as a condition to Tenant's obligation to accept possession of the Leased Premises have been substantially completed and the appropriate governmental building department (i.e., the City building department, if the Property is located within a City, or otherwise the County building department) shall have approved the construction of such improvements as substantially complete or is willing to so approve the construction of the improvements as substantially complete subject only to compliance with specified conditions which are the responsibility of Tenant to satisfy or is willing to allow Tenant to occupy subject to its receiving assurances that specified work will be completed.

  • Certificate of Occupancy means a certificate of occupancy, governmental sign-off or other document, permit or approval (whether conditional, unconditional, temporary or permanent) which must be obtained by Landlord from the appropriate governmental authority as a condition to the lawful initial occupancy by Tenant of the Expansion Space that is the subject of the Work.

  • Owner-occupied means property that is the principal

  • Occupancy means the use or intended use of a building or part thereof for the shelter or support of persons, animals or property.

  • Child-occupied facility means a building or portion of a building constructed prior to 1978, visited regularly by the same child, age six years or younger on at least two different days within any week (Sunday through Saturday period), provided that each day’s visit lasts at least three hours and the combined weekly visit lasts at least six hours, and the combined annual visits last at least 60 hours. Child-occupied facilities may include, but are not limited to, day-care centers, preschools and kindergarten classrooms.

  • Permitted Occupier means if used in the Agreement, any person who is licensed or permitted by the Landlord to reside at the Property together with the Tenant and who does so as a rent free licensee of the Tenant.

  • the Premises means the building or part of the building booked and referred to in the contract

  • bicycle parking space – occupant means an area that is equipped with a bicycle rack or locker for the purpose of parking and securing bicycles, and:

  • Occupancy Date means the date on which occupancy of all Units in a Project is permitted;

  • Unoccupied means the dwelling is not being inhabited as a residence.

  • Landlord Work means the work, if any, that Landlord is obligated to perform in the Premises pursuant to a separate agreement (the “Work Letter”), if any, attached to this Lease as Exhibit C.

  • Authorized occupant means a person entitled to occupy a dwelling unit with the consent of the

  • Substantial Completion means the stage in the progress of the work as determined and certified by the Contracting Officer in writing to the Contractor, on which the work (or a portion designated by the Government) is sufficiently complete and satisfactory. Substantial completion means that the property may be occupied or used for the purpose for which it is intended, and only minor items such as touch-up, adjustments, and minor replacements or installations remain to be completed or corrected which:

  • Building Area means the greatest horizontal area of a building within the outside surface of the exterior walls.

  • Premises Building Total Destruction means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is fifty percent (50%) or more of the then Replacement Cost of the Building.

  • Own Occupation means your occupation that you were performing when your Disability or Partial Disability began. For the purposes of determining Disability under this plan, Liberty will consider your occupation as it is normally performed in the national economy.

  • Building Work has the meaning given to it in section 6 of the Building and Construction Industry (Improving Productivity) Act 2016 (Cth);

  • Licensed premises or “premises” means all rooms, enclosures, contiguous areas, or places susceptible of precise description satisfactory to the administrator where alcoholic beverages, wine, or beer is sold or consumed under authority of a liquor control license, wine permit, or beer permit. A single licensed premises may consist of multiple rooms, enclosures, areas, or places if they are wholly within the confines of a single building or contiguous grounds.

  • Landlord’s Work means the work of constructing the Tenant Improvements.

  • Subleased Premises means such portions of the Leased Premises being particularly identified on Schedule B, which the parties agree, for the purposes of this Sublease and any square footage calculations pursuant hereto, is approximately 42,244 square feet of office (21,068 square feet on the third floor and 21,176 square feet on the seventh floor) and approximately 9.4312% of common space (building rentable area is 447,917 square feet).

  • Rentable Area of the Premises The amount of square footage set forth in Section 1.01(10).

  • Leased Premises means the Leased Premises as defined in Paragraph 1.

  • Building site means a plot of land held for building purposes, whether any building is actually erected thereupon or not, and includes the open ground or courtyard enclosed by, or adjacent to, any building erected thereupon;