Timeshare Program Governing Documents Clause Samples
The Timeshare Program Governing Documents clause defines the set of rules, regulations, and legal documents that control the operation and management of a timeshare program. These documents typically include the declaration, bylaws, rules and regulations, and any amendments or supplements that outline the rights and responsibilities of timeshare owners and the managing entity. By referencing these governing documents, the clause ensures that all parties are aware of and agree to abide by the established framework, thereby promoting consistency, legal compliance, and clarity in the administration of the timeshare program.
Timeshare Program Governing Documents the Public Report, the Timeshare Declaration, any condominium declarations pertaining to the Timeshare Project, the Articles of Organization and bylaws for the Timeshare Association and for Bluegreen Inc., any and all rules and regulations from time to time adopted by the Timeshare Association and Bluegreen Inc., the Timeshare Management Agreement, the Vacation Club Trust Agreement, the Vacation Club Management Agreement, any subsidy agreement, if applicable, by which BVU is obligated to subsidize shortfalls in the budget of the Timeshare Program in lieu of paying assessments, any affiliation agreements, any amenity agreements and any other existing and future contracts, agreements or other documents relating to the establishment, use, occupancy, operation, management, marketing, sale and maintenance of the Timeshare Project.
Timeshare Program Governing Documents the Public Report, the Timeshare Declaration, any condominium declarations pertaining to a Timeshare Project, the Articles of Organization and bylaws for each Timeshare Association and for Bluegreen Inc., any and all rules and regulations from time to time adopted by each Timeshare Association and Bluegreen Inc., the Timeshare Management Agreement, the Vacation Club Trust Agreement, the Vacation Club Management Agreement, any subsidy agreement by which Borrower is obligated to subsidize shortfalls in the budget of the Timeshare Program in lieu of paying assessments, any affiliation agreements, any amenity agreements and any other existing and future contracts, agreements or other documents relating to the establishment, use, occupancy, operation, management, marketing, sale and maintenance of a Timeshare Project. Timeshare Project: individually and collectively, as the context requires, the Big Cedar Project, the Long Creek Project and the Paradise Point Project. Title Insurer: a title company which is acceptable to Lender and issues a Title Policy, including without limitation, First American Title Insurance Company. Title Policy: in connection with each Purchaser Mortgage which is a part of the Receivables Collateral, an ALTA lender's policy of title insurance in an amount not less than the Borrowing Base of the Note Receivable secured by the Purchaser Mortgage, insuring Borrower's and its successors' and assigns' interest in the Purchaser Mortgage as a perfected, direct, first and exclusive lien on the Timeshare Interest(s) encumbered thereby, subject only to the Permitted Encumbrances, issued by Title Insurer and in form and substance attached hereto as Exhibits ▇-▇, ▇-▇, and D-3 (as to each of the Timeshare Projects, respectively). Trading With The Enemy Act: as defined in Section 5.29 hereof. Trailing Documents Delivery Date: as to a particular Advance, the last Business Day of the first month which occurs no sooner than ninety (90) calendar days following the making of the subject Advance. Tranche: Tranche F or Tranche G, as the context requires. Tranche F: as defined in Section 2.2.1 hereof.
Timeshare Program Governing Documents. The Timeshare Program Governing Documents (and all amendments, modifications supplements and additions thereto) described on Exhibits P-1, P-2, P‑3 and P-4 hereto, as to each of the Timeshare Projects and the Vacation Club, respectively, comprise all of the existing Timeshare Program Governing Documents with respect to each Timeshare Project and the Vacation Club as to those Notes Receivable that will be collaterally assigned to Lender.