Common use of Resort Documents Clause in Contracts

Resort Documents. Borrower and its Affiliates shall comply with all of their obligations under the applicable Resort Documents. Borrower and its Affiliates shall not amend, modify, waive or terminate any of the Resort Documents, or enter into or permit the Associations to enter into any new Resort Documents which would in any way materially and adversely alter the Resorts, the rights of Obligors, the rights of any lender foreclosing on a Vacation Ownership Interest or any priority of past due assessment claims over the lien of any mortgage, as applicable.

Appears in 3 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Bluegreen Vacations Corp), Loan and Security Agreement (Bluegreen Corp)

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Resort Documents. Borrower and its Affiliates The Company shall comply with all of their obligations under the applicable Resort Documents. Borrower and its Affiliates The Company shall not amend, modify, waive or terminate any of the Resort Documents, or enter into or permit the Associations to enter into any new Resort Documents which would in any way materially and adversely alter the ResortsResort, the rights of ObligorsOwners, the rights of Agent or any lender Holder foreclosing on a Vacation Ownership Interest any portion of the Mortgaged Property or any priority of past due assessment Assessment claims over the lien Lien of any mortgagethe Mortgage, as applicable.

Appears in 1 contract

Samples: Security Agreement (BFC Financial Corp)

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