Material Increases to Assessments. Borrower (i) will use its best efforts to cause each Timeshare Association to (A) discharge its obligations under the Timeshare Program Governing Documents and (B) maintain a reasonable reserve for capital improvements to the Timeshare Project affiliated with such Timeshare Association. Borrower will pay the maintenance fees and assessments on its unsold Timeshare Interests related to the Timeshare Projects when due.
Appears in 6 contracts
Samples: Loan and Security Agreement (Bluegreen Vacations Holding Corp), Loan and Security Agreement (Bluegreen Vacations Corp), Loan and Security Agreement (BBX Capital Corp)
Material Increases to Assessments. Borrower (i) will use its best efforts to cause each the Timeshare Association to (A) discharge its obligations under the applicable Timeshare Program Governing Documents and (B) maintain a reasonable reserve for capital improvements to the Timeshare Project affiliated with such Timeshare AssociationProject. Borrower will pay the maintenance fees and assessments on its unsold Timeshare Interests related to the Timeshare Projects Inventory when due.
Appears in 4 contracts
Samples: Loan and Security Agreement (Bluegreen Vacations Holding Corp), Loan and Security Agreement (BBX Capital Corp), Loan and Security Agreement (Bluegreen Vacations Corp)
Material Increases to Assessments. Borrower (i) will use its best efforts to cause each the Timeshare Association to (A) discharge its obligations under the Timeshare Program Governing Documents and (B) maintain a reasonable reserve for capital improvements to the Timeshare Project affiliated with such Timeshare AssociationProject. Borrower will pay the maintenance fees and assessments on its unsold Timeshare Interests related to the Timeshare Projects Inventory when due.
Appears in 2 contracts
Samples: Loan Agreement (BBX Capital Corp), Loan Agreement (BFC Financial Corp)
