Occupancy After Closing: When Does Day One Start?

Q: In OREF 054 – Agreement to Occupy After Closing, I’m confused about how to count the number of days of occupancy. On line 14, we filled in that occupancy is to be for five calendar days after closing. Line 13 says the seller’s occupancy begins on the day of closing, so is that day one? Or is day one the first day after closing, which is technically the first full calendar day of occupancy after closing?

A: When selecting the number of “days after closing” in section 2 of OREF 054 – Agreement to Occupy After Closing, since the time frame indicated is “days after closing,” day one would be considered the day after closing. See also Item (f) (iii) of the “Miscellaneous” Section of the Sale Agreement, which identifies how time is calculated. Item (3) in this section states “Time calculated in Calendar Days after a triggering event, such as Delivery of a document, will start on the first full Calendar Day after the triggering event”.

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