Occupancy Adjustments Sample Clauses

Occupancy Adjustments. If less than ninety five percent (95%) of the Building Area is occupied during any full or fractional year of the Term (including the Base Year), then in calculating the actual Operating Expenses for such year Landlord shall adjust those elements of Operating Expenses which vary based on occupancy to an amount which Landlord estimates would have been incurred in Landlord’s reasonable judgment had the Building been ninety five percent (95%) occupied. In addition, if any particular work or service otherwise included in Operating Costs is not furnished to a tenant or occupant of the Building who is undertaking to perform such work or service itself, Operating Expenses shall be deemed to be increased by an amount equal to the additional Operating Expenses which would have been incurred if Landlord had furnished such work to such tenant or occupant. If the Building is not assessed as complete and fully occupied during any full or fractional year of the Term (including the Base Year), then in calculating the Tax Expenses for such year Landlord shall adjust the Tax Expenses to an amount which reflects the Tax Expenses that would have been incurred if the Building had been assessed as complete and fully occupied.

Occupancy Adjustments. Notwithstanding anything to the contrary contained in this Article 5, in the event that, on average, fewer or greater than ninety-five percent (95%) of the Rentable Square Feet of the Complex are occupied on average during any Operating Year or Tax Year, as reasonably determined by Landlord, an adjustment shall be made, in computing the Operating Expenses and Real Estate Taxes for such Operating Year or Tax Year, so that the Operating Expenses and/or Real Estate Taxes shall be computed and payable as though ninety-five percent (95%) of the Rentable Square Feet of the Complex had been occupied throughout such Operating Year and/or Tax Year.

Occupancy Adjustments. Notwithstanding any other provision of the Purchase Agreement, the Vendor may, in its sole and unfettered discretion, but shall not be obligated to, allow for payment of amounts for certain adjustments that might otherwise have been payable on the Firm Occupancy Date, to be paid on the Closing Date. Any such amounts will remain payable by the Purchaser and shall be paid by the Purchaser to the Vendor on Closing, in accordance with the provisions of Part V of the Purchase Agreement.

Occupancy Adjustments. In determining Landlord's Operating Expenses, for any Operating Year during which less than one hundred percent (100%) of the rentable square feet of the Building was occupied by tenants for more than sixty (60) days during such Operating Year, the actual Landlord's Operating Expenses for such Operating Year may be increased on the basis of variable (but not fixed) Landlord's Operating Expenses, to the amount which normally would have been incurred for such Lease Year had such occupancy of the Building been one hundred percent (100%) throughout such Operating Year.

Occupancy Adjustments a. Initial adjustment – Adjustments for occupancy for differences in the average rolling base occupancy and the current occupancy level, as listed on the current 52723 form, will be allowed with HUD approval. Baseline adjustments for future forecasted occupancy changes will not be allowed in the initial baseline adjustments.‌ b. Yearly adjustment – Adjustments for occupancy for differences in the current utility reporting year, as listed on the 52723 form, and the HUD approved baseline will be allowed with HUD approval.