Leased Occupancy Rate definition

Leased Occupancy Rate means for each applicable Individual Property the ratio of (x) the total square footage for which rent is being paid to (y) the total rentable square footage at the applicable Individual Property, which Lender and Borrower agree such total rentable square footage equals 598,660 for the New Jersey Property and 371,586 for the Georgia Property, subject to appropriate adjustments in the event of a Condemnation (if applicable).
View Source

Examples of Leased Occupancy Rate in a sentence

  • Notwithstanding the foregoing, all remaining Re-leasing Funds shall be returned to Borrower upon (i) the Leased Occupancy Rate at the applicable Individual Property equaling eight-five percent (85%) or more and satisfaction of the Release Criteria or (ii) payment in full of the Loan.

  • If, after the re-leasing of a Vacant Space, the actual re-leasing costs for such space totaled less than $30 per square foot, the remaining portion of the Re-leasing Funds deposited for such re-leased space shall be disbursed to Borrower, so long as at the time of such disbursement the amount of Re-leasing Funds on deposit in the Re-leasing Account are equal to or more than $30 per square foot of Vacant Space at the applicable Individual Property below a Leased Occupancy Rate of ninety percent (90%).

Related to Leased Occupancy Rate

  • Occupancy Rate means, for any Property, the percentage of the rentable area of such Property occupied by bona fide tenants of such Property or leased by tenants pursuant to bona fide tenant Leases, in each case, which tenants are not more than 60 days past due in the payment of all rent or other similar payments due under such Leases and paying rent.

  • 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.

  • Maximum Occupancy means the maximum number of occupants permitted on the Premises;

  • 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.

  • 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.