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.
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Vacation Club. The balance of your Vacation Club will be distributed on the last day of May.
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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.
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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.
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Vacation Club. 37 SECTION 6. COVENANTS.......................................................................... 37
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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
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Vacation Club. Bluegreen Vacation Club Trust, doing business as Bluegreen Vacation Club, formed pursuant to the Trust Agreement.
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 Twelve-month ESPs shall be eligible for paid vacation days according to the following schedule: Upon completion of one year of service 5 days Upon completion of two to nine years of service 10 days Upon completion of ten or more years of service 15 days Upon completion of twenty years of service 20 days Vacation days may be accumulated and carried over from year to year. No more than the most recent year’s days earned may be carried over from one year to the next. Upon resignation, retirement, termination, or dismissal, unused accumulated vacation days shall be compensated to the employee not earlier than thirty (30) days nor later than sixty (60) days following severance of relationship with the school district. 1. For each employee employed on June 30th, vacation time earned shall be credited on July 1st. Retiring twelve (12) month employees with retirement date of June 30, will be credited with their final years vacation time. Upon cessation of employment, an employee is entitled only to those days earned as of July 1st preceding such cessation of employment. There will be no proration when they leave if it is before June 30. 2. Newly employed twelve (12) month ESPs hired after July 1st of any year will receive pro-rated credit of .4167 vacation days per month. Employees hired on or before the 15th of any month will receive vacation allotment for the entire month, and those hired after the 15th of any month will not receive any allotment for that month. Vacation time will not be earned and available for use until the following July 1st. 3. All Vacation days accrued will be rounded up to the nearest whole day. 4. Vacation time will be credited to twelve (12) month ESPs at the end of the day on June 30th following the completion of service through June 30th for that year. Credit for vacation will be granted for actual time worked. No current 12 month ESPs already accrued vacation days will be modified as a function of this agreement. Twelve-month District Office Administrative Assistants and twelve-month Principal’s Secretaries will only work during scheduled holiday vacations and days in which school is closed as needed for emergencies and other pressing matters. Vacation requests will be given at least two weeks in advance, except in the case of emergency.

  • 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.

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