Common use of Redemption Restrictions Clause in Contracts

Redemption Restrictions. (a) Until the Vistana Redemption Restriction and the MVW Redemption Restriction have been eliminated in accordance with Section 3.02(c), (i) Marriott will maintain and enforce the MVW Redemption Restriction and the Vistana Redemption Restriction, and (ii) Marriott will maintain all necessary modifications to its IT systems to implement the enforcement of the MVW Redemption Restriction and the Vistana Redemption Restriction. (b) (i) MVW and Marriott will each use commercially reasonable efforts to ensure that they accurately describe the MVW Redemption Restriction to their respective customers, potential customers, members and potential members; (ii) Marriott will use commercially reasonable efforts to ensure that it accurately describes the Vistana Redemption Restriction to its customers, potential customers, members and potential members; and (iii) Marriott will use commercially reasonable efforts to cause ILG to accurately describe the Vistana Redemption Restriction to its Vistana customers, potential customers, members and potential members. (c) Marriott will eliminate both the Vistana Redemption Restriction and the MVW Redemption Restriction upon the earlier of (i) September 23, 2019 or (ii) such date as both MVW and ILG may mutually agree.

Redemption Restrictions. (a) Until The Cross Redemption Policy will be subject to the Vistana Marriott Rewards Redemption Restriction and the MVW SPG Redemption Restriction have been eliminated in accordance with Section 3.02(c), Restriction. (ib) Marriott will maintain and enforce the MVW Redemption Restriction and the Vistana Redemption Restriction, and (ii) Marriott will maintain make all necessary modifications to its IT systems to implement the enforcement of the MVW Marriott Rewards Redemption Restriction and the Vistana SPG Redemption RestrictionRestriction not later than October 15, 2016. (bc) (i) MVW and Marriott will each use commercially reasonable efforts to ensure that they accurately describe the MVW Marriott Rewards Redemption Restriction to their respective customers, potential customers, members and potential members; (ii) Marriott will use commercially reasonable efforts to ensure that it accurately describes the Vistana SPG Rewards Redemption Restriction to its customers, potential customers, members and potential members; and (iii) Marriott will use commercially reasonable efforts to cause ILG to accurately describe the Vistana SPG Redemption Restriction to its Vistana customers, potential customers, members and potential members. (cd) Upon MVW’s written request, Marriott will eliminate both the Vistana SPG Redemption Restriction and the MVW Marriott Rewards Redemption Restriction; provided that the SPG Redemption Restriction upon and the earlier Marriott Rewards Redemption Restriction will not terminate prior to the third anniversary of (i) September 23the closing of the Starwood Combination, 2019 or (ii) such date as unless both MVW and ILG may mutually agreeagree to an earlier termination date.