TIMESHARE REGIME. Without Agent’s prior written consent, Borrower shall not amend, modify or terminate the Declarations or other Timeshare Documents, or any other restrictive covenants, agreements or easements regarding the Resorts (except for routine non-substantive modifications which have no impact on the Collateral). Except as otherwise provided herein, Borrower shall not assign its rights as developer under the Declarations without Agent’s prior written consent, or file or permit to be filed any additional covenants, conditions, easements or restrictions against or affecting the Resorts (or any portion thereof) without Agent’s prior written consent, which consent shall not be unreasonably withheld.
TIMESHARE REGIME. (g) is hereby deleted in its entirety and in its place instead is substituted the following:
TIMESHARE REGIME. The Borrower shall do all things necessary in order to preserve the timeshare regimes in respect of all Pledged Intervals.
TIMESHARE REGIME. Without Agent's prior written consent, which consent shall not be unreasonably withheld as to changes necessary to implement the Business Plan, Borrower shall not amend, modify or terminate the Declarations or other Timeshare Documents, or any other restrictive covenants, agreements or easements regarding the Resorts (except for routine non-substantive modifications which have no impact on the Collateral AND EXCEPT FOR AMENDMENTS OR MODIFICATIONS OF THE TIMESHARE DOCUMENTS AND/OR DECLARATIONS, A LIST OF WHICH IS ATTACHED TO THE FIRST AMENDMENT AS EXHIBIT C-1). Except as otherwise provided herein or in the Sovereign Documents, Borrower shall not assign its rights as "developer" under the Declarations without Agent's prior written consent, or file or permit to be filed any additional covenants, conditions, easements or restrictions against or affecting the Resorts (or any portion thereof) without Agent's prior written consent, which consent shall not be unreasonably withheld."
TIMESHARE REGIME. If applicable, Borrower shall have delivered to Lender evidence that the Pledged Intervals are included in the applicable timeshare regime at each Resort and are subject to the applicable Declaration encumbering such Resort, and if requested by Lender, the Recorded Map related to such Pledged Intervals.
TIMESHARE REGIME. Without Lender's prior written consent, Borrower shall not amend, modify or terminate the Declarations or other Timeshare Documents, or any other restrictive covenants, agreements or easements regarding the Resorts (except for routine non-substantive modifications which have no impact on the Collateral); nor shall Borrower assign its rights as "developer" under the Declarations without Lender's prior written consent, or file or permit to be filed any additional covenants, conditions, easements or restrictions against or affecting the Resorts (or any portion thereof) without Lender's prior written consent, which consent shall not be unreasonably withheld.
TIMESHARE REGIME. Without Lender's prior written consent, which consent shall not be unreasonably withheld as to changes necessary to implement the Business Plan, Borrower shall not amend, modify or terminate the Declarations or other Timeshare Documents, or any other restrictive covenants, agreements or easements regarding the Resorts (except for routine non-substantive modifications which have no impact on the Collateral). Except as otherwise provided herein or in the Sovereign Documents, Borrower shall not assign its rights as "developer" under the Declarations without Lender's prior written consent, or file or permit to be filed any additional covenants, conditions, easements or restrictions against or affecting the Resorts (or any portion thereof) without Lender's prior written consent, which consent shall not be unreasonably withheld."
TIMESHARE REGIME. Without Lender's prior written consent, which consent shall not be unreasonably withheld as to changes necessary to implement the Business Plan, Borrower shall not amend, modify or terminate the Declarations or other Timeshare Documents, or any other restrictive covenants, agreements or easements regarding the Resorts (except for routine non-substantive modifications which have no impact on the Collateral AND EXCEPT FOR AMENDMENTS OR MODIFICATIONS OF THE TIMESHARE DOCUMENTS AND/OR DECLARATIONS, A LIST OF WHICH IS ATTACHED TO THE SECOND AMENDMENT AS EXHIBIT
TIMESHARE REGIME. Section 7.4(g) is hereby restated and amended as follows:
TIMESHARE REGIME. Without Lender’s prior written consent, Borrower shall not amend, modify or terminate any Club Membership Plan, Resort Plan, or any other restrictive covenants, agreements or easements regarding the Receivables Collateral in any manner nor shall Borrower assign its rights as “developer” or “declarant”, if any, under the any Club Membership Plan, or any Resort Plan or file or permit to be filed any additional covenants, conditions, easements or restrictions against or affecting any of the Resorts (or any portion thereof) or the Club, except to Lender, without Lender’s prior written consent. Borrower may amend any non-recorded Resort Documents so long as such amendments or modification shall not have a Material Adverse Effect on the Receivables Collateral, the Club, any Resort or the ability of Borrower to sell Timeshare Interests. Lender acknowledges that Borrower intends to establish a points-based use plan for the Club and may establish other benefits associated with the Club and will amend the Club Membership Plan and registrations to this effect. Lender’s prior written consent to Borrower’s amending the Club Membership Plan to establish a points-based use plan for the Club will not be unreasonably withheld.
