Occupancy Ratio Clause Samples
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Occupancy Ratio. Not permit the aggregate Occupancy Ratio for the Borrowing Base Properties (determined on an aggregate rentable square foot basis) to be less than eighty percent (80%).
Occupancy Ratio. With respect to any Pool Property, the ratio as determined by the Agent of the rentable square footage thereof that is leased and occupied by tenants in-place and paying rent, to the total rentable square footage thereof; provided that vacant Real Estate will be deemed to be occupied as of any date to the extent (i) a tenant under an executed Lease will take occupancy within 12 months of such date, subject only to completion of tenant buildout work or (ii) a replacement tenant will take occupancy within 12 months of prior tenant vacating the premises pursuant to an executed Lease, subject only to completion of tenant buildout work.