Common use of Agreement to Exchange Clause in Contracts

Agreement to Exchange. a. Unless Owner expressly designates otherwise in Paragraph 3 below, TPI will have the option to deposit the Unit for exchange through the Exchange Program operated by Trading Places International, LLC, a California limited liability company (the “Exchange Program”) if the Unit has not rented as of sixtieth (60th) calendar day prior to its initial date of occupancy; although TPI has no obligation to do so. b. In such instance, Owner will receive a deposit acknowledgement stating that the Unit has been deposited rather than rented and, thereafter, Owner shall have the right to request an exchange based on such deposit through the Exchange Program, which exchange shall be governed by the terms and conditions stated in the then-applicable version of the Exchange Program Disclosure Statement, a copy of which is attached hereto and receipt of which is expressly acknowledged by my signature below. Without limiting the generality of the foregoing, Owner understands there is no initial fee to deposit the Unit; however, the applicable exchange fee will apply at the time of an exchange is confirmed to such Owner. c. Owner acknowledges and agrees that, where the Unit is accepted for deposit in Exchange Program, Owner shall no longer be entitled to receive any rental amounts for such Unit and Owner’s sole consideration for the use of such week shall be his or her ability to request an exchange through the Exchange Program in accordance with its terms and conditions.

Agreement to Exchange. a. Unless Owner Member expressly designates otherwise in Paragraph 3 below, TPI will have the option to deposit the Unit Villa for exchange through the Exchange Program operated by Trading Places International, LLC, a California limited liability company (the “Exchange Program”) if the Unit Villa has not rented as of sixtieth (60th) calendar day prior to its initial date of occupancy; although TPI has no obligation to do so. b. In such instance, Owner Member will receive a deposit acknowledgement stating that the Unit Villa has been deposited rather than rented and, thereafter, Owner Member shall have the right to request an exchange based on such deposit through the Exchange Program, which exchange shall be governed by the terms and conditions stated in the then-then- applicable version of the Exchange Program Disclosure Statement, a copy of which is attached hereto and receipt of which is expressly acknowledged by my signature below. Without limiting the generality of the foregoing, Owner Member understands there is no initial fee to deposit the UnitVilla; however, the applicable exchange fee will apply at the time of an exchange is confirmed to such OwnerMember. c. Owner Member acknowledges and agrees that, where the Unit Villa is accepted for deposit in Exchange Program, Owner Member shall no longer be entitled to receive any rental amounts for such Unit Villa and OwnerMember’s sole consideration for the use of such week shall be his or her ability to request an exchange through the Exchange Program in accordance with its terms and conditions.

Agreement to Exchange. a. Unless Owner Member expressly designates otherwise in Paragraph 3 below, TPI will have the option to deposit the Unit for exchange through the Exchange Program operated by Trading Places International, LLC, a California limited liability company (the “Exchange Program”) if the Unit has not rented as of sixtieth (60th) calendar day prior to its initial date of occupancy; although TPI has no obligation to do so. b. In such instance, Owner Member will receive a deposit acknowledgement stating that the Unit has been deposited rather than rented and, thereafter, Owner Member shall have the right to request an exchange based on such deposit through the Exchange Program, which exchange shall be governed by the terms and conditions stated in the then-then- applicable version of the Exchange Program Disclosure Statement, a copy of which is attached hereto and receipt of which is expressly acknowledged by my signature below. Without limiting the generality of the foregoing, Owner Member understands there is no initial fee to deposit the Unit; however, the applicable exchange fee will apply at the time of an exchange is confirmed to such OwnerMember. c. Owner Member acknowledges and agrees that, where the Unit is accepted for deposit in Exchange Program, Owner Member shall no longer be entitled to receive any rental amounts for such Unit and OwnerMember’s sole consideration for the use of such week shall be his or her ability to request an exchange through the Exchange Program in accordance with its terms and conditions.

Agreement to Exchange. a. Unless Owner expressly designates otherwise in Paragraph 3 below, TPI will have the option to deposit the Unit for exchange through the Exchange Program operated by Trading Places International, LLC, a California limited liability company (the “Exchange Program”) if the Unit has not rented as of sixtieth (60th) calendar day prior to its initial date of occupancy; although TPI has no obligation to do so. b. In such instance, Owner will receive a deposit acknowledgement stating that the Unit has been deposited rather than rented and, thereafter, Owner shall have the right to request an exchange based on such deposit through the Exchange Program, which exchange shall be governed by the terms and conditions stated in the then-then- applicable version of the Exchange Program Disclosure Statement, a copy of which is attached hereto and receipt of which is expressly acknowledged by my signature below. Without limiting the generality of the foregoing, Owner understands there is no initial fee to deposit the Unit; however, the applicable exchange fee will apply at the time of an exchange is confirmed to such Owner. c. Owner acknowledges and agrees that, where the Unit is accepted for deposit in Exchange Program, Owner shall no longer be entitled to receive any rental amounts for such Unit and Owner’s sole consideration for the use of such week shall be his or her ability to request an exchange through the Exchange Program in accordance with its terms and conditions.