The Collaborative International Dictionary of English v.0.48:

Occupy \Oc"cu*py\, v. i.
   1. To hold possession; to be an occupant. "Occupy till I
      come." --Luke xix. 13.
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   2. To follow business; to traffic.
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The Collaborative International Dictionary of English v.0.48:

Occupy \Oc"cu*py\, v. t. [imp. & p. p. Occupied; p. pr. & vb.
   n. Occupying.] [OE. occupien, F. occuper, fr.L. occupare;
   ob (see Ob-) + a word akin to capere to take. See
   Capacious.]
   1. To take or hold possession of; to hold or keep for use; to
      possess.
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            Woe occupieth the fine [end] of our gladness.
                                                  --Chaucer.
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            The better apartments were already occupied. --W.
                                                  Irving.
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   2. To hold, or fill, the dimensions of; to take up the room
      or space of; to cover or fill; as, the camp occupies five
      acres of ground. --Sir J. Herschel.
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   3. To possess or use the time or capacity of; to engage the
      service of; to employ; to busy.
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            An archbishop may have cause to occupy more
            chaplains than six.                   --Eng. Statute
                                                  (Hen. VIII. )
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            They occupied themselves about the Sabbath. --2
                                                  Macc. viii.
                                                  27.
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   4. To do business in; to busy one's self with. [Obs.]
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            All the ships of the sea, with their mariners, were
            in thee to occupy the merchandise.    --Ezek. xxvii.
                                                  9.
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            Not able to occupy their old crafts.  --Robynson
                                                  (More's
                                                  Utopia).
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   5. To use; to expend; to make use of. [Obs.]
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            All the gold that was occupied for the work. --Ex.
                                                  xxxviii. 24.
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            They occupy not money themselves.     --Robynson
                                                  (More's
                                                  Utopia).
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   6. To have sexual intercourse with. [Obs.] --Nares.
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WordNet (r) 3.0 (2006):

occupy
    v 1: keep busy with; "She busies herself with her butterfly
         collection" [syn: busy, occupy]
    2: live (in a certain place); "She resides in Princeton"; "he
       occupies two rooms on the top floor" [syn: occupy,
       reside, lodge in]
    3: occupy the whole of; "The liquid fills the container" [syn:
       occupy, fill]
    4: be on the mind of; "I worry about the second Germanic
       consonant shift" [syn: concern, interest, occupy,
       worry]
    5: march aggressively into another's territory by military force
       for the purposes of conquest and occupation; "Hitler invaded
       Poland on September 1, 1939" [syn: invade, occupy]
    6: require (time or space); "It took three hours to get to work
       this morning"; "This event occupied a very short time" [syn:
       take, occupy, use up]
    7: consume all of one's attention or time; "Her interest in
       butterflies absorbs her completely" [syn: absorb,
       engross, engage, occupy]
    8: assume, as of positions or roles; "She took the job as
       director of development"; "he occupies the position of
       manager"; "the young prince will soon occupy the throne"
       [syn: fill, take, occupy]

Moby Thesaurus II by Grady Ward, 1.0:

173 Moby Thesaurus words for "occupy":
   abide, absorb, absorb the attention, admit, adopt, amuse,
   appropriate, arrest, arrogate, assimilate, assume,
   attend to business, be enfeoffed of, be possessed of, be seized of,
   beguile, berth, bespread, boast, bunk, busy, capture, catch, charm,
   claim, cohabit, colonize, come uppermost, command, complete,
   comprehend, comprise, conquer, consume, contain, count in, cover,
   crawl with, creep with, devote, diffuse, distract, divert,
   domicile, domiciliate, dominate, doss down, dwell, eat up, embody,
   embrace, employ, enchant, encircle, enclose, encompass, engage,
   engage the attention, engage the mind, engage the thoughts,
   engross, engross the mind, engross the thoughts, enjoy, enslave,
   entertain, enthrall, envisage, exercise, extend over,
   extend throughout, fascinate, fill, fill in, fill out,
   fill the mind, fill up, garrison, grab, grip, hang out, have,
   have and hold, have in hand, have tenure of, hog, hold,
   hold spellbound, hold the interest, honeycomb, hypnotize, imbue,
   immerse, include, incorporate, indent, inhabit, interest, invade,
   involve, involve the interest, jump a claim, leave no void, leaven,
   live, lodge, make free with, make use of, mesmerize,
   mind the store, monopolize, monopolize the thoughts, move in,
   move into, nest, number among, obsess, obsess the mind,
   occupy the attention, occupy the mind, overrun, overspread,
   overswarm, pass the time, penetrate, people, perch, permeate,
   pervade, populate, possess, preempt, preoccupy, prepossess,
   receive, reckon among, reckon in, reckon with, remain, requisition,
   reside, room, roost, run through, seize, seize the mind, settle in,
   settle into, sit on, soak, spellbind, spend, spend the time, squat,
   squat on, stay, subjugate, suffuse, swarm with, take all of,
   take in, take into account, take into consideration, take it all,
   take over, take possession of, take up, teem with, tenant,
   transfuse, use up, usucapt, usurp