Common use of TIMESHARE REGIME Clause in Contracts

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.

Appears in 4 contracts

Samples: Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc), Loan Agreement (Silverleaf Resorts Inc)

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TIMESHARE REGIME. Without Agent’s '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 '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 's prior written consent, which consent shall not be unreasonably withheld.

Appears in 1 contract

Samples: Loan and Security Agreement (Silverleaf Resorts Inc)

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TIMESHARE REGIME. Without Agent’s '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, ; nor shall Borrower shall not assign its rights as developer "developer" under the Declarations without Agent’s '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 's prior written consent, which consent shall not be unreasonably withheld.

Appears in 1 contract

Samples: Loan, Security and Agency Agreement (Silverleaf Resorts Inc)

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