Timeshare Plan. Each Resort has been established and dedicated, and is and will remain, a time-share plan and project in full compliance with all applicable laws and regulations, including without limitation, the Timeshare Act.
Timeshare Plan. Each Timeshare Project and each Timeshare Programs therein have been established and dedicated as a timeshare project, in material compliance with all Legal Requirements and with applicable Timeshare Declaration and other Timeshare Program Governing Documents, and matters affecting title or use of such Timeshare Project. The Vacation Club is in material compliance with all laws, codes, rules and regulations applicable to it with respect to its activities in operating the Vacation Club and has obtained all necessary licenses and registrations required in that regard.
Timeshare Plan. Each Resort has been established and dedicated and is and, to the Company's knowledge, will remain, a timeshare plan and project in full compliance with all applicable laws and regulations, including without limitation, the Timeshare Act. Related real property, all Units, all Improvements constructed or to be constructed thereon, the Common Amenities, the Common Furnishings, the Facilities and all related real and personal property have been and will continue to be duly submitted to the provisions of the Applicable Underlying Declaration and the Timeshare Documents, where applicable. The Company will not vote to amend and will ensure that each Applicable Timeshare Owners' Association does not vote to terminate or amend any Applicable Underlying Declaration in any material respect without the prior written approval of TFC and the Administrative Agent. SPV is under no obligation to accept as Conveyed Assets any Receivables from any Resort not listed on Exhibit F to the SPV Loan Agreement unless and until TFC and the Administrative Agent consent in writing to the addition of a new Resort from which the Company may sell, contribute or assign Receivables to SPV as Conveyed Assets and such Exhibit F is amended to include such new Resort.
Timeshare Plan. The common scheme and plan for the use, occupancy, enjoyment, repair, maintenance, restoration and improvement of the Timeshare Project established by and as provided in the Timeshare Documents.
Timeshare Plan. Each Receivables Loan Approved Resort shall be subjected to the Declaration. Each Receivables Loan Approved Resort will remain a timeshare plan and project in full compliance with all Applicable Laws. All Units and Common Elements are subject to the provisions of the Declaration. All Resort Facilities are subject to a Use Agreement. Upon filing of the Declaration, Borrower will not vote and will use its best efforts to ensure that the Timeshare Association does not vote to terminate or amend the Declaration in any material respect without the prior written approval of Lender.
Timeshare Plan. 32 10.9 Sale of Timeshare Interests....................................33 10.10 Brokers.......................................................33 10.11
Timeshare Plan. Borrower shall amend the Public Report and the Timeshare Declaration to add the Units which make up Phase 2 upon their completion. Further Borrower shall file with any applicable regulatory agencies in the State the required documentation for approval of Phase 2 of the Project as a timeshare project. Borrower will provide a copy of the public offering statement as required by Florida state law and all amendments and supplements thereto to Lender and Lender's counsel at the time it is finalized for distribution to Purchasers. Borrower will provide Lender and Lender's counsel with copies of all correspondence and other responses received from the Division related to the application within two (2) Business Days after receipt by Borrower or Borrower's counsel. On or before the date hereof, Phase 2 shall be established and dedicated as a timeshare plan and project in full compliance with all applicable Legal Requirements, including without limitation, the Timeshare Act. On or before the date hereof, Borrower will deliver to Lender:
Timeshare Plan. Includes all Timeshare Units that are not operated as hotel units; as created by the Timeshare Documents.
Timeshare Plan. Borrower shall amend the applicable Public Report and the Applicable Declaration to add the Units which make up the Applicable Phase or Applicable Resort upon their completion or promptly after the closing under the Acquisition Documents. Further Borrower shall file with any applicable Governmental Agency in the Applicable Jurisdiction the required documentation for approval of the Applicable Phase or Applicable Resort as a timeshare project. Borrower will provide a copy of the Public Report as required by the Applicable Jurisdiction and all amendments and supplements thereto to Lender and Lender’s counsel at the time it is finalized for distribution to Purchasers. Unless provided otherwise in connection with the closing of a Sub-Loan, Borrower will provide Lender and Lender’s counsel with copies of all correspondence and other responses received from the applicable Governmental Agency within fourteen (14) Business Days after receipt by Borrower or Borrower’s counsel if such notice would materially affect the Applicable Declaration or Applicable Resort or Borrower’s ability to repay any Sub-Loan. On or before any applicable Sub-Loan Closing Date, the Applicable Phase or Applicable Resort shall be established and dedicated as a timeshare plan and project in full compliance with all Legal Requirements. On or before any applicable Sub-Loan Closing Date, hereof, Borrower will deliver to Lender:
Timeshare Plan. Each Resort (other than the Marathon Key Resort) has been established and dedicated as, and is and will be for so long as any of the Obligations remain outstanding, a time-share plan and project in full compliance with all applicable laws and regulations, including without limitation, the applicable Timeshare Act. Borrower will not consent to, promote or participate in any action that would cause any Resort to fail to be, and will use its best efforts to insure that each Resort is operated as a timeshare resort in accordance with all applicable laws and regulations, including, without limitation, the applicable Timeshare Act.
