Minimum Average Occupancy. The Borrower agrees that the average physical occupancy of the overall portfolio of Projects owned by the Consolidated Group for each fiscal quarter shall exceed 85% of the average gross leaseable area of such portfolio for such fiscal quarter.
Appears in 3 contracts
Sources: Credit Agreement (Inland Real Estate Corp), Credit Agreement (Inland Real Estate Corp), Credit Agreement (Inland Real Estate Corp)
Minimum Average Occupancy. The Borrower agrees that the average physical economic occupancy of the overall portfolio of Projects (excluding Construction in Progress) owned by the Consolidated Group for each fiscal quarter shall exceed 8580% of the average gross leaseable area of such portfolio Projects for such fiscal quarter. As used herein, economic occupancy shall mean occupancy by a tenant other than an Excluded Tenant.
Appears in 1 contract
Sources: Credit Agreement (Inland Western Retail Real Estate Trust Inc)