Former Occupant definition

Former Occupant means any tenant, licensee or other similar party who was, but is no longer, in occupancy at any of the Properties pursuant to a Defaulted Agreement (and collectively, “Former Occupants”). “Defaulted Agreement” means any lease, license or other agreement between a Former Occupant and a Property Owner in which Former Occupant has defaulted under its obligation to pay the applicable Property Owner a sum of money, and such amounts remain unpaid as of the Effective Date or as of the Closing Date (and collectively, “Defaulted Agreements”). Buyer and Seller agree that Seller may update Schedule 5.1(a)-1, 5.1(a)-2 and/or 5.1(a)-3 with respect to any defaults involving Pre-Closing Rents that may exist as of the Closing Date.
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Related to Former Occupant

  • 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.

  • Owner-occupied means property that is the principal

  • Occupant means any person or persons over the age of eighteen years in possession of the property.

  • Ready for Occupancy means a mobile or manufactured home

  • 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.