Fixed Cottage Right definition

Fixed Cottage Right means that the Owner has the right to reserve on a priority basis and then use only a specific Cottage. It is that Owner’s “Assigned Cottage”.
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Fixed Cottage Right is defined in Section 2.05(a); “Floating Week” is defined in Section 2.05(c);
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Fixed Cottage Right is defined in Section 2.05(a); “Floating Week” is defined in Section 2.05(c); “Improvement” is defined in Section 3.07; “Infringing Owner” is defined in Section 5.04; “Injured Person” means every Owner, Exchange User or Occupant who cannot use a Cottage because of an Act of Trespass or Vandalism. There can be several Injured Persons. For example, a Cottage may be damaged so that it cannot be used for later Use Periods. Each person who had the right to use the Cottage during later Use Periods would be an Injured Person; “Interval Identification Number” is defined in Section 2.01; “Interval No.” means the number of the Interval from 1 to 10 created in each Cottage which sets the order by which Floating Weeks may be reserved; “Interval Ownership” or simply an “Interval” are inter-changeable terms and mean: (i) membership in the Association ; plus (ii) the right to reserve on a priority basis and then use for five (5) separate one (1) week periods: (A) a specific Cottage and that Cottage only every calendar year; (B) one (1) Fixed Week during the prime summer period every calendar year; and (C) four (4) Floating Weeks every calendar year, one (1) in the Spring Season, one (1) in the Fall Season, one (1) in the Winter Season and one (1) Additional Week; plus (iii) the obligation to pay one (1) Share of the Association Expenses. These three (3) parts of an Interval are indivisible; “Major Service Period” is defined in Section 2.02; “Minor Service Period” is defined in Section 2.02; “New Owner” is defined in Section 3.01; “Occupant” means each Owner, Exchange User, Renter and Visitor when they are on any part of the Property. It also includes the Visitor of an Occupant who is not an Owner or Exchange User; “One Share” is defined in Section 6.02(b); “Owner” means a person who from time to time is an Owner of an Interval (and a member of the Association ) who has become a party to this Agreement, either by being an original party, or by being a New Owner pursuant to the Transfer Agreement attached as Exhibit "B"; “Owner’s Purchase Contract” means the Agreement of Purchase and Sale whereby and Owner acquired that Owner’s Interval(s) from the Association ; “Partial Destruction of Cottages” is defined in Section 10.01; “Partial Destruction Not Affecting the Cottages” is defined in Section 10.01; “Partial Taking” is defined in Section 10.01; “Partial Taking Not Affecting the Cottages” is defined in Section 10.01; “Personal Charges” is defined in Section 6.02(e); “Proce...
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More Definitions of Fixed Cottage Right

Fixed Cottage Right means that
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Fixed Cottage Right is defined in Section 2.05(a);
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Related to Fixed Cottage Right

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