Vacation Club Sample Clauses

Vacation Club. (i) The Vacation Club Trust Agreement is modified in a manner material and adverse to the interest of the Lender with respect to any of its rights as an Interest Holder Beneficiary thereunder; (ii) the Vacation Club Trustee violates or breaches any material agreement within the Vacation Club Trust Agreement that is for the benefit of (a) the Lender with respect to any of its rights as an Interest Holder Beneficiary thereunder or (b) an Owner Beneficiary related to a Note Receivable pledged to the Lender pursuant to the applicable Loan Documents; (iii) there occurs a loss, revocation or failure to renew or failure to file a renewal of any necessary and proper registration, approval, license, permit or franchise now held or hereafter held with respect to the Vacation Club that materially and adversely affects Lender, as an Interest Holder Beneficiary thereunder or materially and adversely affects any Owner Beneficiary related to a Note Receivable pledged to Lender pursuant to the applicable Loan Documents; (iv) there is issued any stay order, cease and desist order, injunction, temporary restraining order or similar judicial or nonjudicial sanction with respect to the Vacation Club that materially and adversely affects Lender, as an Interest Holder Beneficiary thereunder or materially and adversely affects any Owner Beneficiary related to a Note Receivable pledged to Lender pursuant to the applicable Loan Documents; (v) there occurs a termination or dissolution of the Vacation Club; or (vi) either Timeshare Project ceases to be a component resort of the Vacation Club.
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Vacation Club. (i) There occurs a termination or dissolution of the Vacation Club; or (ii) once the Timeshare Project exists, the Timeshare Project ceases to be a component resort of the Vacation Club.
Sample 1Sample 2Sample 3See All (6)
Vacation Club. The balance of your Vacation Club will be distributed on the last day of May.
Sample 1Sample 2
Vacation Club. Borrower represents and warrants that the Property is not a part of any vacation club. Prior to converting any Purchasers of a Timeshare Interest which is related to a Pledged Note Receivable to membership in a vacation club, Borrower acknowledges it is required to notify in writing and obtain the written consent of Lender to conversion to such vacation club.
Sample 1Sample 2
Vacation Club. Monarch Grand Vacations, the vacation ownership program established pursuant to the Vacation Club Declaration. Vacation Club Association: Monarch Grand Vacations Owners Association, a California nonprofit, mutual benefit corporation.
Sample 1
Vacation Club. As of the last dividend declaration date, the dividend rate was .35% with an annual percentage yield (APY) of .35% on your account. The dividend rate and annual percentage yield may change every 30 days determined by the credit union board of directors. As of the last dividend declaration date, the dividend rate was 0.00% with an annual percentage yield (APY) of 0.00% on your account. The dividend rate and annual percentage yield may change every 30 days determined by the credit union board of directors.
Sample 1
Vacation Club. Bluegreen Vacation Club Trust, doing business as Bluegreen Vacation Club, formed pursuant to the Trust Agreement.
Sample 1
Vacation Club. 37 SECTION 6. COVENANTS.......................................................................... 37
Sample 1
Vacation Club. Dividends are paid on the entire daily balance of the account at the dividend rate and APY corresponding to the applicable balance tier. Dividends are compounded and credited to your account on the last day of each quarter, except there is an additional dividend payment on the last day of May. Dividend payment periods are from January through March, April through June, July through September, and October through December.
Sample 1

Related to Vacation Club

  • Vacation Credit Any outstanding vacation entitlement for a person going on LTD will be paid in cash upon expiry of sick leave. The cash payment will be calculated on the base earnings at the expiration of sick leave for the prorated days of vacation entitlement, any outstanding lieu days, any outstanding floating statutory holidays, and banked time for 40-hour per week employees. No vacation entitlement, floating holidays, or banked time for 40-hour per week employees accrues while a member is in receipt of LTD benefits.

  • VACATION PLAN 2 All employees in the bargaining unit shall earn paid vacation time 3 under this Article. Vacation benefits are earned on a fiscal year 4 basis--July 1 to June 30. 5 8.1 Unit members are entitled to vacation with pay at the rates 6 to be found in the following schedule: 7 8.1.1 . 83 of a day for each month worked during the first 8 three (3) years.

  • Vacation; Sick Leave During the Employment Term, the Executive shall be entitled to not less than four (4) weeks of vacation during each calendar year and sick leave in accordance with the Company’s policies and practices with respect to its executives.

  • Vacation and Sick Leave During the Term, Executive shall be entitled to (a) sick leave in accordance with the Company’s policies applicable to similarly situated executive officers of the Company from time to time and (b) 4 weeks paid vacation each calendar year (up to 40 hours of which may be carried forward to a succeeding year).

  • Vacation Buy Back Employees shall have the option of requesting pay in lieu of time off up to a maximum of 144 hours of vacation time each year, during each year of the contract in increments of eight (8) hrs. Such requests are subject to the approval of the department head and the availability of funds.

  • Vacation Use Vacation leave balances shall be reduced for actual time not worked to the nearest quarter hour. Absences may not be charged to vacation not already accumulated.

  • Prime Time Vacation Period Subject to the provisions of this article, it is the intent of the parties that no employee will be restricted in the time of year they choose to take their vacation. The Employer will make every effort to allow employees to take their vacation during the period of April 15th to October 15th inclusive, which will be defined as the prime time vacation period.

  • VACATIONS 25.01 All employees shall be entitled to vacation with pay based on length of full-time continuous service as follows: (a) employees who have completed less than one (1) year of full-time continuous service as of June 30 in any year shall be entitled to a vacation in the amount of one (1) day for each completed calendar month of service up to June 30 to a maximum of ten (10) days; (b) employees who have completed ten (10) or more full calendar months of full-time continuous service as of June 30th in any year shall be entitled to a vacation in the amount of two (2) weeks; (c) in the year that the employee completes four (4) years of full-time continuous service his vacation entitlement shall change to three (3) weeks; (d) in the year that the employee completes ten (10) years of full-time continuous service his vacation entitlement shall change to four (4) weeks; (e) in the year that the employee completes fifteen (15) years of full-time continuous service his vacation entitlement shall change to five (5) weeks; (f) in the year that the employee completes twenty (20) years of full-time continuous service his vacation entitlement shall change to six (6) weeks. 25.02 There shall be no carry over of vacation from one calendar year to the next. (a) Vacation pay for each week of vacation entitlement shall be in the amount of the employee's regular weekly earnings excluding overtime or any other premium. (b) For employee's paid on commission, vacation pay will be calculated based on the employee's regularly scheduled hours excluding overtime or other premiums, using the employee's average hourly rate where this has been calculated for the employee according to established procedures. 25.04 Vacations shall be scheduled by the Company. Employees with less than two weeks vacation entitlement must take their entitlement at one time. Employees with 4 weeks or more vacation entitlement must take their entitlement in at least two periods, no period being greater than three weeks. An employee must take at least one week of vacation at any one time. (a) Where an employee leaves the employ of the Company, the Company reserves the right to pay outstanding vacation pay in the amount of four (4) percent of gross earnings from the previous July 1st less any amount of vacation pay previously paid. Where an employee has already received more vacation pay than that which would be payable under the above formula, the over payment shall be deducted from his last pay. If insufficient amount exists in the employee's last pay, he shall be obligated to repay the overpayment. (b) Where an employee is absent for any reason (which absence is unpaid by the Company) for a total of sixty (60) work days or more in any vacation year, the Company reserves the right to pro-rate the vacation and vacation pay entitlements provided herein (e.g. an employee absent sixty-one (61) work days would have vacation and vacation pay entitlements reduced by 61/260). 25.06 Employees shall indicate their vacation preferences, if any, no later than March 1st in each vacation year. Where an employee requests a specific vacation period, the Company shall confirm or deny, in writing, such request within two (2) weeks of receipt of the same. Where, in scheduling vacations in accordance with the foregoing, conflicts arise as to choice of vacation times, consideration shall be given to respective length of service, and the efficiency of operations in the final determination of a vacation schedule.

  • Benefits; Vacation Employee shall be eligible to receive all benefits as are available to similarly situated employees of Employer generally, and any other benefits that Employer may, in its sole discretion, elect to grant to Employee from time to time. In addition, Employee shall be entitled to four (4) weeks paid vacation per year, which shall be pro-rated for the first partial year of employment and shall accrue in accordance with Employer’s policies applicable to similarly situated employees of Employer.

  • Paid Vacation Except as otherwise provided in this Article, paid vacation shall be granted no later than the fiscal year immediately following the fiscal year in which it is earned. Following the completion of six (6) months of service, the employee shall be entitled to use earned paid vacation.