Occupancy Requirement Clause Samples
An Occupancy Requirement clause mandates that a property must be occupied by a specific party, typically the buyer or tenant, for a defined period or under certain conditions. This clause may specify that the property cannot be left vacant, sublet, or used for purposes other than as a primary residence, and may require the occupant to move in within a set timeframe after closing or lease commencement. Its core function is to ensure the property is used as intended, prevent unauthorized use or vacancy, and protect the interests of lenders, landlords, or homeowners' associations.
Occupancy Requirement. Any member receiving a mortgage loan must occupy the residence as their principal dwelling within 120 days of loan closing. Borrowers must occupy the residence for the life of the loan.
Occupancy Requirement. A Property that is at least 85% leased as of the date it becomes a Collateral Property.
Occupancy Requirement. With respect to any Real Estate, that such Real Estate has an Occupancy Ratio of at least 80%.
Occupancy Requirement. The provisions of this Article 29 shall be effective only if, upon both the Inclusion Date and the date on which Tenant exercises any Offer Response Notice, Tenant first named above or an Affiliate of Tenant is in actual occupancy of the entire Premises.
Occupancy Requirement. Pitkin County leases space in the ▇▇▇▇▇▇▇ Health & Human Services Building to non-profit agencies that help further the community’s access to health and human services. In order to best meet community needs, the County/Lessor holds the right to cancel any Agreement with a tenant that does not occupy their space and actively provide services to the community on an ongoing basis. Any Agreement for office space that is not actively used over the period of three months will be reviewed and the Agreement may be revoked by the County/Lessor.
Occupancy Requirement. All new Owners of a Home who become an Owner subsequent to the date of this Amendment, shall own and occupy such Home as the Owner’s primary place of residence for the immediate twenty-four (24) consecutive months after the date of purchase or other acquisition of title.
Occupancy Requirement. Developer shall, for the duration of the Agreement Term, maintain the Affordable Unit(s) as specified in the following table: Number of Bedrooms Unit Designation Developer shall limit the occupancy of the Affordable Unit(s) to Tenant(s) with incomes that do not exceed the maximum allowable income as defined in the Ordinance at Maximum Allowable Rent as established by the City for the above unit designation, based on Assumed Household Size. In addition, the Affordable Unit(s) shall not be operated as transient housing and/or occupied by Developer’s on-site management and/or maintenance staff.
Occupancy Requirement. Notwithstanding anything to the contrary contained in the Lease, as of the date of this Fourth Amendment and during the remaining term of the Lease, Tenant shall be deemed to no longer satisfy the Occupancy Requirement set forth on page v of Exhibit 1 of the Lease. The rights granted to Tenant under the Lease that are contingent on the Occupancy Requirement being met are all hereby forever terminated and of no further force or effect; provided, however, that Tenant (i) may continue to maintain Tenant’s existing Exterior Signage on a non-exclusive basis so long as Tenant continues to occupy at least 33,686 rentable square feet of the Premises, and (ii) shall continue to have the right to extend the term of the Lease pursuant to the terms and conditions set forth in Section 30 of the Lease (other than the condition contained in Section 30.1(ii) regarding the Occupancy Requirement).
Occupancy Requirement. 36 Section 8.10
Occupancy Requirement. Lessee agrees that, on or before December 31, 2003, and at all times thereafter (subject to the Force Majeure provision of Section 17.21 of the Lease), Lessee shall cause the Premises to be and remain no less than eighty percent (80%) occupied, i.e, eighty percent (80%) of the Premises shall be utilized by Lessee (or its subtenants) on a daily basis for the conduct of business.