Timeshare Project Sample Clauses

Timeshare Project the Property after such time as the same has been converted to a timeshare regime pursuant to the Timeshare Declaration.  Title Insurer: a title company which is acceptable to Lender and issues the Title Policy, including without limitation, First American Title Insurance Company. 6284.345.1224403.10 13 4/16/2018  Title Policy: an extended coverage ALTA lender's policy of title insurance (6-17-06) in an amount not less than $27,500,000 insuring that the Mortgage is a valid first lien on the property intended to be encumbered thereby, subject only to the Permitted Encumbrances, issued by Title Insurer and in form and substance and with such endorsements as are reasonably acceptable to Lender, a proforma copy of which is attached hereto as Exhibit D  Trading With the Enemy Act: as defined in Section 5.19 hereof.  Transferred Property: the Property, the Furnishings, the Retail Merchandise, the General Intangibles, the Warranties, the Appurtenances, the Parking Rights, the Consumables, the Expendables, the assignable (including assignable by consent) Hotel Contracts (other than the Terminated Contracts), the Bookings, the License Agreement, the Services Agreement and the Permits, to the extent transferred to BVU under the PSA. The term “Transferred Property” shall not include Retained Liabilities or the Terminated Contracts which were not transferred to BVU at the closing under the PSA. Unit: a dwelling unit in the Timeshare Project.  Vacation Club: defined in the Background Statements.  Vacation Club Management Agreement: the management agreement from time to time entered into between the Vacation Club Trustee and the Vacation Club Manager for the management of the Vacation Club.  Vacation Club Manager: Bluegreen Resorts Management, Inc., a Delaware corporation, and such other Person from time to time employed by the Vacation Club Trustee to manage the Vacation Club.  Vacation Club Trust: the trust established pursuant to the Vacation Club Trust Agreement and in accordance with F.S. Ch. 721 (the Florida Vacation Plans and Timesharing Act). 
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Timeshare Project. For the avoidance of doubt, all provisions of this Agreement and the other Acquisition Loan Documents that are applicable to the Property shall also apply to the Timeshare Project at such time that the Timeshare Project exists.
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Timeshare Project. (a) (i) It is hereby acknowledged and agreed that the Timeshare Project Property has been deeded by TSP Owner pursuant to the terms of that certain Grant, Bargain and Sale Deed (the “Timeshare Deed”), dated as of September 10, 2007, by TSP Owner to Timeshare Project Developer. Pursuant to the terms of the Timeshare Deed, TSP Owner has certain rights including a “possibility of reversion” right to certain portions of the Timeshare Project Property (the “Reversionary Property”) upon the occurrence of certain events set forth in the Timeshare Deed. TSP Owner has granted to Lender a Lien upon all of TSP Owner’s right, title and interest in and to the Reversionary Property under the TSP Owner Security Instrument.
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Timeshare Project the Paradise Point Timeshare Project.
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Timeshare Project. A single-phase or multi-phased (as provided herein) timeshare development on the Timeshare Property, in accordance with this Agreement (see, e.g., Section 9) and the final Complex Standards, complying with the Minimum Project Density, and with amenities for all Timeshare Units, to be developed and constructed by the Developer pursuant to this Agreement and subjected to a timeshare plan or regime pursuant to the Timeshare Documents. The Timeshare Project may also include other facilities customarily contained in a timeshare development, but, with the exception of check-in facilities and swimming pool, which Developer may in its discretion construct at its cost as part of the Timeshare Project for use by occupants of the Timeshare Project, such other facilities at the Timeshare Project shall not include any amenities offered by Seller at the Hotel/Casino Property, including but not limited to gaming, conventions, hotel use (including facilities developed for hotel use as well as hotel use of Timeshare Units as provided herein), food and beverage, retail, entertainment (live or otherwise) and other recreational facilities. Whether or not the entire number of expected Timeshare Units is ultimately constructed, each dwelling accommodation constructed at the Timeshare Property shall be deemed for all purposes hereunder to be a Timeshare Unit and part of the Timeshare Project. The Timeshare Project does not include any right of the Developer to any use of or payment associated with any activity at or about or associated with the Complex other than development and marketing of Timeshare Intervals, such as, but not limited to, gaming, conventions, hotel use (including facilities developed for hotel use as well as hotel use of Timeshare Units as provided herein), food and beverage, retail and entertainment.
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Timeshare Project individually and collectively, as the context requires, the Big Cedar Project and the Long Creek 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 D-1 and D-2. Trading With The Enemy Act: as defined in Section 5.29 hereof. Unit: a dwelling unit in a Timeshare Project. Upgraded Note Receivable: a new Eligible Note Receivable made by the Purchaser under an existing Note Receivable (i) who has elected to terminate such Purchaser’s interest in an existing Timeshare Interest and related Owner Beneficiary Rights and Vacation Points (if any) in exchange 6284.98.499412.15 19 9/30/2010 for purchasing an upgraded Timeshare Interest of higher value than the existing Timeshare Interest and related Owner Beneficiary Rights and Vacation Points (if any) and (ii) whereby the Borrower releases the Purchaser from Purchaser’s obligations in respect of the existing Timeshare Interest and all related Owner Beneficiary Rights and Vacation Points (if any) in exchange for receiving (in substantially all cases) the new Eligible Note Receivable from the Purchaser secured by the upgraded Timeshare Interest and related Owner Beneficiary Rights and Vacation Points (if any). Vacation Club: defined in the Background Statements.
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Timeshare Project the Property after such time as the same has been converted to a timeshare regime pursuant to the Timeshare Declaration.  Title Insurer: a title company which is acceptable to Administrative Agent and issues the Title Policy, including without limitation, Commonwealth Land Title Insurance Company. BN 72497947v7 
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Timeshare Project. (a) It is hereby acknowledged and agreed that, subject to the provisions set forth in this Section 5.2.11, each of Borrower, TSP Owner and any Affiliate of the foregoing (as applicable) shall have the right in its sole discretion to (i) sell the Timeshare Project Property to any Person that is not an Affiliate of Borrower (a “Timeshare Project Sale”) upon terms that do not contemplate any continuing involvement or obligations of Borrower or TSP Owner after the closing thereof (other than usual and customary indemnification obligations with respect to seller representations and prorations), (ii) enter into any Timeshare Project upon terms that are contemplated within the parameters described on Schedule X or such other terms that are more favorable to Borrower and TSP Owner with any Person that is not an Affiliate of Borrower (a “Schedule X Project”), or (iii) with the prior written consent of Lender (such consent not to be unreasonably withheld, conditioned or delayed), enter into any other Timeshare Project.
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Related to Timeshare Project

  • Project The Land and all improvements thereon, including the Building, the Parking Facilities, and all Common Areas.

  • Projects 3.3.1 Exult Supplier shall perform the impact analysis as described in Section 4.

  • Cooperative Property The real property and improvements owned by the Cooperative Corporation, that includes the allocation of individual dwelling units to the holders of the Cooperative Shares of the Cooperative Corporation.

  • Condominium Documents Mezzanine Lender shall have received copies of all Condominium Documents;

  • The Properties 3.1 All of the Properties are in England, Wales or Scotland.

  • The Property The term “Property” shall also include the following:

  • The Project The Project is the total construction of which the Work performed under the Contract Documents may be the whole or a part and which may include construction by the Owner or by separate contractors.

  • Foreclosure Property Notwithstanding any other provision of this Agreement, the Servicer, shall not rent, lease, or otherwise earn income on behalf of the REMIC with respect to any REO which might cause such REO to fail to qualify as "foreclosure" property within the meaning of section 860G(a)(8) of the Code (e.g., rent based upon the earnings of the lessee) or result in the receipt by the REMIC of any "income from non-permitted assets" within the meaning of section 860F(a)(2) of the Code (e.g., income attributable to any asset which is not a qualified mortgage, a cash flow or reserve fund investment, or personal property not incidental to the REO) or any "net income from foreclosure property" which is subject to tax under the REMIC Provisions unless the Master Servicer has received an Opinion of Counsel (at the Servicer's expense) to the effect that, under the REMIC Provisions and (where appropriate, any relevant proposed legislation) any income generated for the REMIC by the REO would not result in the imposition of a tax upon the REMIC. In general, the purpose of this Section 3.2 and the REMIC Provisions (which this section is intended to implement) is to ensure that the income earned by the REMIC is passive type income such as interest on mortgages and passive type rental income on real property.

  • Mortgaged Property The real property securing repayment of the debt evidenced by a Mortgage Note.

  • Partnership Property All property, real, personal, tangible, intangible, or mixed, acquired by or contributed to the Partnership shall be owned by the Partnership and titled in its name and such property shall not be owned individually by any Partner. Each Partner acknowledges and agrees that the System and all elements thereof, are the exclusive property of the Company and are not Partnership property. Each Partner acknowledges and agrees that the Proprietary Marks are the exclusive property of the Company and are not Partnership property. Each Partner acknowledges and agrees that the Partnership shall not acquire or own any land or buildings. Any land or buildings used in the Partnership business shall be acquired and owned by the Company or an Affiliate of the Company and leased to the Partnership at reasonable rates and terms, and such land and buildings shall not be Partnership property.

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