Operating Contracts. Subject to the rights of the Timeshare Owners' Association as set forth in the Timeshare Documents, no Operating Contract shall be modified, extended, terminated or entered into, without the prior written approval of Agent, if any such modification, extension, termination or new agreement could have a material adverse impact on the operation of the Resort or the Collateral.
Appears in 3 contracts
Samples: Loan, Security and Agency Agreement (Silverleaf Resorts Inc), Loan, Security and Agency Agreement (Silverleaf Resorts Inc), Loan, Security and Agency Agreement (Silverleaf Resorts Inc)
Operating Contracts. Subject to the rights of the Timeshare Owners' ’ Association as set forth in the Timeshare Documents, no Operating Contract shall be modified, extended, terminated or entered into, without the prior written approval of Agent, if any such modification, extension, termination or new agreement could have a material adverse impact on the operation of the Resort Resorts or the Collateral.
Appears in 3 contracts
Samples: Loan Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc)
Operating Contracts. Subject to the rights of the Timeshare Owners' Association Associations as set forth in the Timeshare Documents, no Operating Contract shall be modified, extended, terminated or entered into, without the prior written approval of Agent, if any such modification, extension, termination or new agreement could have a material adverse impact on the operation of the Resort Resorts or the Collateral.
Appears in 1 contract
Samples: Loan and Security Agreement (Silverleaf Resorts Inc)
Operating Contracts. Subject to the rights of the Timeshare Owners' ’ Association as set forth in the Timeshare Documents, no Operating Contract shall be modified, extended, terminated or entered into, without the prior written approval of AgentLender, if any such modification, extension, termination or new agreement could have a material adverse impact on the operation of the Resort Resorts or the Collateral.
Appears in 1 contract
Samples: Loan and Security Agreement (Silverleaf Resorts Inc)
Operating Contracts. Subject to the rights of the Timeshare Owners' Association as set forth in the Timeshare Documents, no Operating Contract shall be modified, extended, terminated or entered into, and Borrower shall not consent to any modification, extension or termination of any Operating Contract without the prior written approval of AgentTFC, if any such modification, extension, termination or new agreement could have a material adverse impact on the operation of the Resort Resorts or the Collateral.
Appears in 1 contract
Samples: Acquisition, Construction and Receivable Loan, Security and Agency Agreement (Bluegreen Corp)
Operating Contracts. Subject to the rights of the Applicable Timeshare Owners' Association as set forth in the Timeshare Documents, no Operating Contract shall be modified, extended, terminated or entered into, without the prior written approval of Agent, SPV and TFC if any such modification, extension, termination or new agreement could have a material adverse impact on the operation of the any Resort or the Collaterala Material Adverse Effect.
Appears in 1 contract
Samples: Developer Transfer Agreement (Silverleaf Resorts Inc)
Operating Contracts. Subject to the rights of the Timeshare Owners' Association as set forth in the Timeshare Documentsdocuments, no Operating Contract shall be modified, extended, terminated or entered into, without the prior written approval of Agentthe Lender, if any such modification, extension, termination or new agreement could would have a material adverse impact effect on the operation of the Resort or the Collateral.
Appears in 1 contract
Samples: Loan and Security Agreement (Silverleaf Resorts Inc)
Operating Contracts. Subject to the rights of the Timeshare Owners' ’ Association as set forth in the Timeshare Documents, no Operating Contract shall be modified, extended, terminated or entered into, without the prior written approval of Agent, if any such modification, extension, termination or new agreement could have a material adverse impact on the operation of the Resort or the Collateral.
Appears in 1 contract
Samples: Loan and Security Agreement (Silverleaf Resorts Inc)
Operating Contracts. Subject to the rights of the Timeshare Owners' Association as set forth in the Timeshare Documents, no Operating Contract listed in Exhibit D shall be modified, extended, terminated or entered into, without the prior written approval of AgentLender, if any such modification, extension, termination or new agreement could have a material an adverse impact on the operation operating of the Resort or the Collateral.
Appears in 1 contract
Samples: Loan and Security Agreement (Silverleaf Resorts Inc)
Operating Contracts. Subject to the rights of the Timeshare Owners' Association as set forth in the Timeshare Documents, no Operating Contract shall be modified, extended, terminated or entered into, without the prior written approval of Agent, if any such modification, extension, termination or new agreement could have a material adverse impact on the operation of the Resort or the Collateral.of
Appears in 1 contract
Samples: Loan and Security Agreement (Silverleaf Resorts Inc)
Operating Contracts. Subject to the rights of the Timeshare Owners' Association as set forth in the Timeshare Documents, no Operating Contract shall be modified, extended, terminated or entered into, without the prior written approval of AgentLender, if any such modification, extension, termination or new agreement could have a material an adverse impact on the operation of the Resort or the Collateral.
Appears in 1 contract
Samples: Loan and Security Agreement (Silverleaf Resorts Inc)