Common use of TIMESHARE REGIME Clause in Contracts

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."

Appears in 2 contracts

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

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TIMESHARE REGIME. Without AgentLender'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 DECLARATIONSand 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-1a list of which is attached hereto as Schedule 6.19). Except as otherwise provided herein or in the Sovereign Documents, Borrower shall not assign its rights as "developer" under the Declarations without AgentLender'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 AgentLender'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 AgentLender'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 THIRD AMENDMENT AS EXHIBIT C-1B-1). Except as otherwise provided herein or in the Sovereign Documents, Borrower shall not assign its rights as "developer" under the Declarations without AgentLender'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 AgentLender'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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