Interval Ownership definition

Interval Ownership or simply an “Interval” are inter-changeable terms and mean:
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Interval Ownership means any timeshare or other interval estate, use or ownership defined or otherwise permitted by applicable Tennessee law including, without limitation, (i) timeshare estates owned or leased in property devoted to a timeshare fee or a timeshare lease, (ii) a timeshare or other interval use consisting of a contractual right of exclusive occupancy, whereby the use, occupancy or possession circulates among owners of a timeshare estate or interval according to a fixed or floating time schedule on a periodic basis annually over a period in excess of one (1) year, (iii) fractional or undivided interests in Living Units or other units of interval ownership; (iv) systems utilizing point based assignments of occupancy rights; or (v) vacation clubs. "Interval" shall mean and refer to a time period in a Living Unit subject to Interval Ownership.
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Interval Ownership means a conveyance in fee simple absolute of an undivided interest in the common elements owned or tenants in common with all other unit and interval unit owners of an undivided interest in the time- shared dwellings with all other interval owners and a right to use a dwelling annually for a stated period of time in accordance with the Declaration, the Bylaws and Rules of the Council.
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Examples of Interval Ownership in a sentence

  • In January 2006, Oasis Interval Ownership, LLC entered into an agreement with Global Exchange Development Corp.

  • The notes upon the recorded subdivision plats shall control as to use of the lots reflected thereon, the residential structure types (Single Family Detached, Single Family Attached, Multi-family Structure and Interval Ownership) which shall be permitted upon Residential Lots, and the minimum square footage of each Single Family Detached Structure, Single Family Attached Structure or Living Unit in a Multi-family structure.

  • The benefits of the Protective Covenants and Interval Ownership Agreement set forth herein are intended to run with the land and to each Owner, his heirs, personal representatives, administrators, successors and assigns.

  • With respect to Units committed to Interval Ownership, an Owner thereof shall be required to give notices under the above Sections only as to liens, suits and proceedings affecting title to the Unit Weeks which he owns.

  • An exchange program allows the Owner to exchange his Use Period for the Use Period in other similar projects or for different use periods at Meadow Lake Resort, as more fully set forth in the exchange program, which is not a part of this Interval Ownership Agreement.

  • The Board of Directors shall obtain casualty and liability insurance, as needed, on all Units and property contained therein committed to Interval Ownership.

  • Final Environmental Assessment/Environmental Impact Report for the Tahoe Vista Partners Affordable Housing and Interval Ownership Development Project.

  • Any lien against and Owner of Unit Weeks in a Unit committed to Interval Ownership or against the Unit Weeks owned by him shall be limited to the Unit Weeks owned by him and shall not encumber the property, real or personal, of any other Owner of Unit Weeks and said Unit.

  • Tahoe Vista Affordable Housing and Interval Ownership Development Project EA/EIR.

  • Notwithstanding other provisions herein, each Owner of Unit Weeks in the Unit committed to Interval Ownership shall be entitled to cast the fractional vote attributed to his Unit Week(s) owned.


More Definitions of Interval Ownership

Interval Ownership means a concept whereby Lot(s) or Living Unit(s) are conveyed for periods of time, the Owner receiving a stated time period for a period of years together with a remainder over in
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Related to Interval Ownership

  • Joint Ownership - (also known as equity JVs) means the establishment by two parent companies of a child company for a specific task within which both parent companies invest in order to overcome the limited capabilities vested within them in order that they can both benefit from the combined investment.

  • Common ownership means that more than 50% of the voting control of each member of a combined group is directly or indirectly owned by a common owner or owners, either corporate or non-corporate, whether or not the owner or owners are members of the combined group. Whether voting control is indirectly owned shall be determined in accordance with section 318 of the federal Internal Revenue Code, 26 U.S.C. s.318.

  • substantial owners means any individuals entitled to more than 10% of the profits of or with an interest of more than 10% in an entity either directly or indirectly.

  • Ownership means, for purposes of this definition, control of more than a 50% interest in an entity.

  • Beneficial Ownership shall have the meanings set forth in Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date hereof.

  • Equity Ownership means the percentage ownership and control, exercised by individuals within an enterprise.

  • Substantial Owner means any person or persons who own or hold a twenty-five percent (25%) or more percentage of interest in any business entity seeking a FPDCC Privilege, including those shareholders, general or limited partners, beneficiaries and principals; except where a business entity is an individual or sole proprietorship, Substantial Owner means that individual or sole proprietor.

  • Initial Owners means, with respect to Borrower or any other entity, the persons or entities that (i) on the date of the Note, or (ii) on the date of a Transfer to which Lender has consented, own in the aggregate 100 percent of the ownership interests in Borrower or that entity.

  • Residual Ownership Interest Any record or beneficial interest in the Class R Certificates.

  • Legal owner means a person who holds the legal title to a vehicle.

  • Ownership Change means a change in a hospital’s owner, lessor, or operator under 42 CFR 489.18(a).

  • Internship means the practical, experiential, hands-on

  • Business Entity means a natural or legal person, business corporation, professional services corporation, limited liability company, partnership, limited partnership, business trust, association or any other legal commercial entity organized under the laws of this State or of any other state or foreign jurisdiction;

  • Ownership Interest As to any Certificate, any ownership or security interest in such Certificate, including any interest in such Certificate as the Holder thereof and any other interest therein, whether direct or indirect, legal or beneficial, as owner or as pledgee.

  • Principal owner means any person who owns, controls, votes or has a beneficial

  • Entity means a corporation, partnership, limited liability company or other entity.

  • Direct service means services involving face-to-face assistance to a consumer such as transporting a consumer or providing therapy.

  • Ownership Change Event means the occurrence of any of the following with respect to the Company: (i) the direct or indirect sale or exchange in a single or series of related transactions by the stockholders of the Company of securities of the Company representing more than fifty percent (50%) of the total combined voting power of the Company’s then outstanding securities entitled to vote generally in the election of Directors; (ii) a merger or consolidation in which the Company is a party; or (iii) the sale, exchange, or transfer of all or substantially all of the assets of the Company (other than a sale, exchange or transfer to one or more subsidiaries of the Company).

  • Group Business Entity means;

  • Records means any written or recorded information, regardless of physical form or characteristics, which is produced or acquired by the Party in the performance of this agreement. Records produced or acquired in a machine readable electronic format shall be maintained in that format. The records described shall be made available at reasonable times during the period of the Agreement and for three years thereafter or for any period required by law for inspection by any authorized representatives of the State or Federal Government. If any litigation, claim, or audit is started before the expiration of the three-year period, the records shall be retained until all litigation, claims or audit findings involving the records have been resolved.

  • Non-participating private hospital means a hospital that does not have a hospital purchaser provider agreement with Latrobe. (If you use a non-participating private hospital you may incur a large out-of- pocket expense.)

  • Change of Ownership means a change in the individual or legal organization that is responsible for the operation of a nursing facility. Change of ownership does not include changes in personnel, e.g., a change of administrators. Events that change ownership include, but are not limited to, the following:

  • Affiliation means an elector's decision to affiliate with either a political party or a political organization, as defined in subsections (24) and (25) of this section.

  • Change in Ownership means change of ownership of the Bidder/Member in a Bidding Consortium by way of merger/ acquisition/ amalgamation/ reorganisation/ consolidation/ demerger;

  • Percentage Ownership means, as to any Stockholder and as of any date, the percentage equal to (i) the aggregate number of shares of Common Stock held by such Stockholder on a fully diluted as-converted basis divided by (ii) the total number of outstanding shares of Common Stock of the Company on a fully diluted, as-converted basis.

  • Participating private hospital means a hospital that has a hospital purchaser provider agreement with Latrobe.