Material Increases to Assessments. A written notification to Lender if Borrower has knowledge that an event (other than general changes in the economy) has occurred which would give rise to a material increase in assessments to cover the then current costs of operation of a Timeshare Project and to establish and maintain a reasonable reserve for capital improvements to such Timeshare Project.
Appears in 3 contracts
Samples: Loan and Security Agreement (BBX Capital Corp), Loan and Security Agreement (BFC Financial Corp), Loan and Security Agreement (Bluegreen Corp)
Material Increases to Assessments. A written notification to Lender if Borrower has knowledge that an event (other than general changes in the economy) has occurred which would give rise to a material increase in assessments to cover the then current costs of operation of a Timeshare Project and to establish and maintain a reasonable reserve for capital improvements to such Timeshare Project..
Appears in 3 contracts
Samples: Loan and Security Agreement (Bluegreen Vacations Holding Corp), Loan and Security Agreement (Bluegreen Vacations Corp), Loan and Security Agreement (BBX Capital Corp)
