Borrowing Base Property Occupancy Level Sample Clauses

Borrowing Base Property Occupancy Level. Permit or suffer to exist the Borrowing Base Properties in the aggregate to consist of Student Housing Properties which have an aggregate occupancy level for the preceding four (4) calendar quarters of tenants in possession and paying rent and which are not in default under their respective leases of less than eighty-five percent (85%) of the aggregate rentable beds within such Borrowing Base Properties.