Occupancy Level definition

Occupancy Level means the occupancy level of a Real Property that is leased to bona fide tenants not Affiliates of any Credit Party or the subject property manager (or any of their respective Affiliates) paying rent under written leases, based on the square feet of occupancy at the time of determination.

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Occupancy Level means the occupancy level of a Real Property that is leased to bona fide tenants (including leases to Affiliates of the Borrower or the subject property manager (or any of their respective Affiliates) up to a maximum amount of space covered by such leases (including expansion options) of five percent (5.0%) of the net rentable space in the applicable project) paying rent under written leases, based on the square feet of occupancy at the time of determination.

Occupancy Level means the occupancy level of a Real Property that is --------------- leased to bona fide tenants not Affiliates of any Credit Party or the subject property manager (or any of their respective Affiliates) paying rent under written leases, based on the square feet of occupancy at the time of determination.

Examples of Occupancy Level in a sentence

• The aggregate Unencumbered Asset Pool ------------------------ Property Value for Unencumbered Asset Pool Properties which have failed to maintain the Required Occupancy Level for the three (3) month period prior to such date shall not comprise more than 20% of the aggregate Unencumbered Asset Pool Property Value for all Unencumbered Asset Pool Properties (including the Unencumbered Asset Pool Properties which have failed to so maintain the Required Occupancy Level).

• Any full time resident wishing to be added to the Lease must apply for residency and be approved by Landlord, at which time the Occupancy Level may be increased accordingly.

• Occupancy Level shall mean the occupancy level of a Property that is leased to bona fide tenants paying rent under written leases, based on the average of the actual occupancy level for the immediately preceding three (3) months.

• Stabilization Date shall mean, with respect to a property, the earlier of (a) eighteen (18) months from the date of acquisition of an income producing property by the Borrower or eighteen (18) months after substantial completion of construction or development of a new construction or development property, and (b) the date on which the Occupancy Level is at least ninety-three percent (93%).

• The aggregate Unencumbered Asset Pool ------------------------ Property Value for Unencumbered Asset Pool Properties which have failed to maintain the Required Occupancy Level for the thirty (30) day period prior to such date shall not comprise more than 20% of the aggregate Unencumbered Asset Pool Property Value for all Unencumbered Asset Pool Properties (including the Unencumbered Asset Pool Properties which have failed to so maintain the Required Occupancy Level).

More Definitions of Occupancy Level

Occupancy Level means the occupied square footage that is leased to bona fide tenants not Affiliates of any Obligor or the subject property manager (or any of their respective Affiliates) paying the stated rent under written leases, based on the occupancy level at the time of determination.

Occupancy Level means, for any given period, the total number of rooms rented divided by the total number of rooms available in the given period;

Occupancy Level. The occupancy level shall be established by Lessor and shall not exceed applicable housing codes, shall be limited to not more than persons, and shall further be limited to those persons who have signed this Lease or are otherwise legally authorized occupants.

Occupancy Level means (i) the sum of: (a) a fraction (expressed as a percentage) equal to the number of residents in occupancy divided by the number of residents for which the Property is designed (and budgeted for the then applicable period) to accommodate and (b) a fraction (expressed as a percentage) equal to the number of units occupied by one or more residents divided by the number of units for which the Property is designed ; (ii) divided by two (2).

Occupancy Level means evidence of bookings of the short-term let property;

Occupancy Level means the occupancy level of a Real Property that is

Occupancy Level means, for each Real Property Asset, the --------------- percentage of rentable square feet in such Real Property Asset actually occupied by tenants under their respective Leases on a full rent paying basis or during any free rent period provided for in such Lease. For purposes of this definition, if a tenant has sublet all or a portion of the premises demised under its Lease, and such subtenant is actually occupying such premises or portion thereof, the tenant shall be deemed to be actually occupying such premises or portion thereof, as the case may be.