Occupancy Ratio definition
Occupancy Ratio means the percentage obtained by dividing “Total Leased Floor Space” by “Total Leasable Floor Space”.
Occupancy Ratio means with respect to any Borrowing Base Property, the ratio as determined by the Administrative Agent of the rentable square footage thereof as to which tenants are paying rent, to the total rentable square footage thereof. Notwithstanding the foregoing, for purposes of determining compliance with Section 7.21.1 of this Agreement, the Occupancy Ratio for any Borrowing Base Property as to which an Event of Loss has occurred shall be equal to the greater of (i) the actual Occupancy Ratio with respect thereto or (ii) the Occupancy Ratio immediately prior to the said Event of Loss for a period equal to the lesser of (x) six (6) months from the occurrence of the Event of Loss or (y) the determination that the subject Borrowing Base Property is not, or ceases to be, a Restoration Property.
Occupancy Ratio means the percentage obtained by dividing “Total Leased Floor Space” by “Total Leasable Floor Space”. The same shall apply hereinafter.
Examples of Occupancy Ratio in a sentence
Not permit the aggregate Occupancy Ratio for the Borrowing Base Properties (determined on an aggregate rentable square foot basis) to be less than eighty percent (80%).
Security Documents as defined in Section 3.2. Stabilized Asset shall mean an Individual Property which has an Occupancy Ratio of equal to or greater than eighty percent (80%).
Not permit the aggregate Occupancy Ratio for the Borrowing Base Properties (determined on an aggregate rentable square foot basis) to be less than Eighty-Five (85%) percent for any period of ninety (90) consecutive days.
The PT’s share of the costs is determined annually using the Municipal Occupancy Ratio formula.
The PT will also pay 100% of any payment in lieu of taxes (PILT) for that building, based on the Municipal Occupancy Ratio.
More Definitions of Occupancy Ratio
Occupancy Ratio means with respect to any Borrowing Base Property, the ratio as determined by the Administrative Agent of the rentable square footage thereof as to which tenants are in physical occupancy and paying rent, to the total rentable square footage thereof. Notwithstanding the foregoing, for purposes of determining compliance with Section 7.23.1 of this Agreement, the Occupancy Ratio for any Borrowing Base Property as to which an Event of Loss has occurred shall be equal to the greater of (i) the actual Occupancy Ratio with respect thereto or (ii) the Occupancy Ratio immediately prior to the said Event of Loss for a period equal to the lesser of (x) six (6) months from the occurrence of the Event of Loss or (y) the determination that the subject Borrowing Base Property is not, or ceases to be, a Restoration Property.
Occupancy Ratio means the percentage obtained by dividing “Total Leased Floor Space” by “Total Leasable Floor Space” (However, if a lease agreement covering only the parking lot is concluded, the agreement is excluded.).
Occupancy Ratio means the ratio (as determined by Bank of America under that certain Loan Agreement dated January 30, 2004, as amended, between Bank of America, as Administrative Agent, and Cedar Shopping Centers Partnership, L.P., as Borrower, as amended, or if such Loan Agreement be terminated or such determination be not made, as reasonably and consistently determined by management of Guarantors and certified to Lender) of the rentable square footage of an Individual Property as to which tenants are in physical occupancy and paying rent, to the total rentable square footage thereof.
Occupancy Ratio means with respect to any Individual Property, the ratio as determined by the Administrative Agent of the rentable square footage thereof as to which tenants are in physical occupancy and paying rent, to the total rentable square footage thereof. OD Property shall mean a Borrowing Base Property that contains both a completed operational component and a development component. Officer’s Certificate shall mean a certificate delivered to the Administrative Agent by the Borrower, a Borrower Subsidiary, or a Guarantor, as the case may be respectively, which is signed by an authorized officer thereof (or an authorized officer of the direct or indirect managing general partner or managing member, as applicable, of the Borrower, Borrower Subsidiary, or Guarantor, if and as applicable).
Occupancy Ratio means with respect to any Borrowing Base Property, the ratio as determined by the Administrative Agent of the rentable square footage thereof as to which tenants are in physical occupancy and paying rent, to the total rentable square footage thereof. For purposes of determining the Occupancy Ratio, the Occupancy Ratio for any Borrowing Base Property as to which an Event of Loss has occurred shall be equal to the greater of (i) the actual Occupancy Ratio with respect thereto or (ii) the Occupancy Ratio immediately prior to the said Event of Loss for a period equal to the lesser of (x) six (6) months from the occurrence of the Event of Loss or (y) the determination that the subject Borrowing Base Property is not, or ceases to be, a Restoration Property. Officer's Certificate shall mean a certificate delivered to the Administrative Agent by the Borrower, a Borrower Subsidiary, or a Guarantor, as the case may be respectively, which is signed by an authorized officer thereof (or an authorized officer of the direct or indirect managing general partner or managing member, as applicable, of the Borrower, Borrower Subsidiary, or Guarantor, if and as applicable).
Occupancy Ratio means with respect to any Borrowing Base Property, the ratio as determined by the Administrative Agent of the rentable square footage thereof as to which tenants are paying rent, to the total rentable square footage thereof. Notwithstanding the foregoing, for purposes of determining compliance with Section
Occupancy Ratio means the percentage of occupancy of the apartment units in the Apartment Complex as compared to the maximum theoretically possible occupancy, determined annually. The maximum theoretical occupancy shall be 100%, and the occupancy of the Apartment Complex at any point in time shall be determined by dividing the total number of apartment units in the Apartment Complex available for rental by the number of apartment units then occupied by tenants obligated to pay rent under arrangements which meet the Minimum Set-Aside Test and the Rent Restriction Test and are consistent with the duties and obligations of the General Partner set forth in Section 6.5(b) of the Partnership Agreement. Apartment units in the Apartment Complex available for rental at any given time shall not include (i) any apartment units damaged or destroyed by fire, flood or other casualty or natural disaster if such apartment units are being expeditiously restored within a reasonable time period, or (ii) any apartment units unavailable due to governmental agency action outside of the control of the Management Agent if such apartment units are being expeditiously made to conform to the requirements of the applicable government agency so as to permit occupancy within a reasonable time period.