Resident Occupancy definition

Resident Occupancy means the number of residents who are in occupancy at a Facility and paying fees pursuant to a resident agreement divided by the pro forma resident occupancy for such Facility as contained in the pro forma operating budget of an Eligible Facility.
Sample 1Sample 2Sample 3
Resident Occupancy means the number of residents who are paying fees according to the normal fee schedule for such Facility pursuant to a Resident Agreement for a Facility, expressed as a percentage of licensed capacity.
Sample 1Sample 2
Resident Occupancy means the total number of residents living in a senior living community calculated as at a certain date.
Sample 1

Examples of Resident Occupancy in a sentence

  • The term “Stabilization” or “Stabilized”, with respect to a senior living community, means a community which has had a Resident Occupancy Rate of 92% or greater on the last day of each of the preceding three consecutive months.

  • The term “Resident Occupancy Rate” with respect to the Facility means the Resident Occupancy, divided by the maximum number of residents capable of being housed by such Facility, as of the date hereof, as adjusted from time to time by Owner and Manager in the context of the Approved Budget, expressed as a percentage.

  • As of the end of each fiscal quarter, the Resident Occupancy Rate for each property comprising the Residual Payment Collateral shall be not less than 85%.


More Definitions of Resident Occupancy

Resident Occupancy shall have the meaning ascribed to such term in the Management Agreements.
Sample 1

Related to Resident Occupancy

  • Certificate of Occupancy means a certificate of occupancy, governmental sign-off or other document, permit or approval (whether conditional, unconditional, temporary or permanent) which must be obtained by Landlord from the appropriate governmental authority as a condition to the lawful initial occupancy by Tenant of the Premises.

  • Prior Occupancy means Owner’s use of all or parts of the Project before Substantial Completion, as more fully set forth in Section 6.08 A.

  • Occupancy means the use or intended use of a building or part thereof for the shelter or support of persons, animals or property.

  • Residential building means a building containing one or more residential dwellings.

  • Office Premises means any building, facility, or portion thereof, or other premises, whether owned or controlled by CP, which is used solely for clerical or administrative purposes and which does not contain heavy equipment or machinery, as designated by CP from time to time;

  • Ready for Occupancy means the date upon which (i) the Leased Premises are available for Tenant's occupancy in a broom clean condition and (ii) the improvements, if any, to be made to the Leased Premises by Landlord as a condition to Tenant's obligation to accept possession of the Leased Premises have been substantially completed and the appropriate governmental building department (i.e., the City building department, if the Property is located within a City, or otherwise the County building department) shall have approved the construction of such improvements as substantially complete or is willing to so approve the construction of the improvements as substantially complete subject only to compliance with specified conditions which are the responsibility of Tenant to satisfy or is willing to allow Tenant to occupy subject to its receiving assurances that specified work will be completed.

  • Residential area means land used as a permanent residence or domicile, such as a house, apartment, nursing home, school, child care facility or prison, land zoned for such uses, or land where no zoning is in place.

  • residential land means land used or capable of being used for residential purposes (but does not include land on which there is no residential dwelling).

  • mixed-use building means a building or structure containing a residential and non- residential use other than a home occupation;

  • Building means any structure used or intended for supporting or sheltering any use or occupancy.

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.

  • the Premises means the building or part of the building booked and referred to in the contract

  • operational area means a work unit providing a distinct service that may include one of the following areas: domestic services, food services, laundry/linen services and the work of aides and orderlies and similar operational work

  • New Building ’ means a new construction to house a complete motor vehicle as- sembly process, where that construction includes the pouring or construction of a new foundation and floor, the erection of a new frame and roof, and the instal- lation of new plumbing and electrical and other utilities;