Common use of Occupancy Covenant Clause in Contracts

Occupancy Covenant. Commencing with the quarter ending March 31, 2010, Borrower shall maintain at all times, tested as of the end of each fiscal quarter during the term of the Loan, a minimum average daily occupancy of eighty percent (80%), measured on the basis of the one hundred and twelve (112) beds in the Facility.”

Occupancy Covenant. Commencing with the quarter ending March 31, 2010, Borrower shall maintain at all times, tested as of the end of each fiscal quarter during the term of the Loan, a minimum average daily occupancy of eighty percent (80%), measured on a unit basis. For purposes of clarity, the basis of occupancy covenant provided in this Section 7.30 will not be tested with respect to the one hundred and twelve (112) beds in the Facilityfiscal quarter ending December 31, 2009.”

Occupancy Covenant. Commencing with the quarter ending March 31, 2010, Borrower shall maintain at all times, tested as of the end of each fiscal quarter during the term of the Loan, a minimum average daily occupancy of eighty eighty-five percent (8085%), measured on the basis of the one hundred and twelve (112) beds in the Facilitya unit basis.”