Occupancy Requirements definition

Occupancy Requirements means that Tenant or Tenant’s Permitted Transferee is leasing and physically occupying at a minimum fifty percent (50%) of the RSF of the Premises and no Event of Default by Tenant has occurred under this Lease.

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Occupancy Requirements means that the property must be developed and/or rehabilitated into affordable housing and must be occupied by persons with incomes at or below 80% of the area median income.

Occupancy Requirements means the requirements that the Named Tenant is the Tenant hereunder; the Named Tenant leases the entire Premises; and the Named Tenant has not subleased more than twenty-five (25%) percent of the Premises to an unaffiliated third party. “Original Named Tenant” means ▇▇▇▇▇▇▇.▇▇▇, INC., a Delaware corporation. “Ownership Interests” means stock or other beneficial ownership interests in a Person. “Person” means any natural person, partnership, corporation, limited liability company, joint venture, or any other form of business or legal association or entity. “Prohibited Use” means (a) any use or occupancy of the Premises (or of any Common Areas of the Building) that in Landlord’s reasonable judgment would cause damage to the Building or any equipment, facilities or other systems therein; impair the appearance of the Building; interfere with the efficient and economical maintenance, operation and repair of the Premises or the Building or the equipment, facilities or systems thereof; adversely affect any service provided to, and/or the use and occupancy by, any tenant or occupants of the Building; violate the certificate of occupancy issued for the Premises or the Building (if any); materially and adversely affect the first-class image of the Building or result in protests or civil disorder or commotions at, or other disruptions of the normal business activities in, the Building or (b) any of the following uses: (i) a restaurant or bar for sale to customers (provided the foregoing does not exclude not-for-sale pantry(ies) and/or bar for use solely by Tenant and its employees, clients, guests and invitees); (ii) the preparation, consumption, storage, manufacture or sale of (x) food or beverages except in connection with vending machines (provided that each machine, where necessary, shall have a waterproof pan thereunder and be connected to a drain) and/or microwave ovens, toaster ovens and refrigerators installed for the use of Tenant’s employees only, or (y) tobacco or drugs; (iii) the business of photocopying, or multilith or offset printing (except photocopying in connection with Tenant’s own business); (iv) a school or classroom; (v) lodging or sleeping; (vi) savings and loan association or retail facilities of any financial, lending, securities brokerage or investment activity; (vii) a payroll office; (viii) a ▇▇▇▇▇▇, beauty or manicure shop; (ix) an employment agency or similar enterprise; (x) offices of any Governmental Authority, any foreign government,...

Examples of Occupancy Requirements in a sentence

See 24 CFR § 5.659 and Chapter 5, Section 3: Verification of the Occupancy Requirements of Subsidized Multifamily Housing Programs, 4350.3 REV-1.
At such time as Tenant no longer meets the Exterior Signage Occupancy Requirements, Landlord may permit other Building tenants to install a façade sign on the Building exterior.
Tenant’s right to erect the Façade Sign shall be exclusive so long as Tenant meets the Exterior Signage Occupancy Requirements.
Following the Project Completion Date, the UE Completion Date and the Initial Occupancy Requirements, MRA shall provide a letter acknowledging satisfaction of the same as each are met.
If the Company fails to meet the Minimum Room Occupancy Requirements set forth in section 2.7, then the Annual Payment due in that year shall be reduced by 10% for each percentage point below the Minimum Room Occupancy Requirement.
HUD Handbook 4350.3: Occupancy Requirements for Subsidized Multifamily Housing Programs describes a waitlist that is more than one year long as excessive.
For details on what is required in the lease agreement, refer to HUD Handbook 4350.3, Occupancy Requirements of Subsidized Multifamily Housing Programs.
Notwithstanding anything contained in this Lease to the contrary, Tenant shall not have the Extension Option if on the date Tenant gives to Landlord the Extension Exercise Notice, the Extension Occupancy Requirements are not satisfied.
Upon satisfactory achievement of Construction Completion and Annual Occupancy Requirements, City shall provide a letter acknowledging satisfaction of the terms and conditions in this Agreement (“Acknowledgement of Satisfaction”).
See 24 CFR §5.659 and chapter 5, section 3, of the Occupancy Requirements of Subsidized Multifamily Housing Programs, 4350.3 REV-1.

More Definitions of Occupancy Requirements

Occupancy Requirements shall have the meaning provided in the Occupancy Agreement.

Occupancy Requirements means the legal requirements to obtain an Occupancy Permit and the Supplementary Requirements with respect to the North Building/North Area or the South Building/South Area, as the case may be;”