Stable Occupancy definition
Stable Occupancy means the date on which the total percentage of the Independent Living Units that are Occupied is equal to or greater than 90%, calculated as of the last day of any fiscal quarter.
Stable Occupancy means, with respect to Phase II, the date on which the total percentage of such Independent Living Units in Phase II which are Occupied is equal to or greater than 90%, calculated as of the last day of any Fiscal Quarter.
Stable Occupancy means the first full calendar year in which the average occupancy of the units in the Community is equal to or greater than 85% as evidenced by a certificate executed by an Authorized Representative and delivered to the Trustee;
More Definitions of Stable Occupancy
Stable Occupancy means the date on which the average occupancy of the units in the Project is equal to or greater than 85% for three (3) consecutive months as evidenced by a certificate executed by an Authorized Representative and delivered to the Trustee.