Owner Beneficiary Rights definition

Owner Beneficiary Rights shall have the meaning specified in the Club Trust Agreement.
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Owner Beneficiary Rights. As defined in the Club Trust Agreement. Owner Trustee. Wilmington Trust Company, a Delaware banking corporation, in its capacity as owner trustee under the Trust Agreement.
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Owner Beneficiary Rights means the beneficial rights provided to an Owner Beneficiary under the Club Trust Agreement, which include as an appurtenance thereto, Vacation Points.
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Examples of Owner Beneficiary Rights in a sentence

  • In such event, the Servicer shall direct the Club Trustee, directly or through its agents to exercise the remedies provided for in the Club Trust Agreement, in the Mortgage Note themselves or in the other Club documents with respect to such Defaulted Timeshare Loans and the Obligors thereunder, and the Owner Beneficiary Rights will be remarketed with the purpose of obtaining the maximum Net Liquidation Proceeds in respect of such Defaulted Timeshare Loans.

  • The Bluegreen Vacation Club Trust has filed all required tax returns and has paid all taxes shown to be due and payable on such returns, including all taxes in respect of sales of Owner Beneficiary Rights (as defined in the Club Trust Agreement) and Vacation Points.

  • Owner Beneficiary: the Purchaser under the Purchase Contract who purchases Timeshare Inventory in the Timeshare Project pursuant to such Purchase Contract and is thereby designated an Owner Beneficiary under the terms of the Vacation Club Trust Agreement and entitled to exercise Owner Beneficiary Rights with appurtenant Vacation Points.

  • Also, the Complainant’s Owner Beneficiary Rights were terminated for the September 30, 2016 and July 21, 2018 purchases due to non-payment of the amounts owed under the Promissory Notes signed by the Complainant.

  • That certain owner beneficiary agreement executed by a Purchaser in connection with the purchase of Owner Beneficiary Rights and appurtenant Vacation Points, pursuant to which the Purchaser thereunder directs Bluegreen Vacations Unlimited, Inc.

  • The Club Trust has filed all required tax returns and has paid all taxes shown to be due and payable on such returns, including all taxes in respect of sales of Owner Beneficiary Rights (as defined in the Trust Agreement) and Vacation Points.

  • The Purchaser under an Owner Beneficiary Agreement who acquires Owner Beneficiary Rights with appurtenant Vacation Points.


More Definitions of Owner Beneficiary Rights

Owner Beneficiary Rights means the beneficial rights provided to an Owner Beneficiary under the Trust Agreement, which right shall specifically include the rights of performance provided to Owner Beneficiaries by the Trustee, and shall specifically include the right of performance provided for in the Trust Agreement, which Owner Beneficiary Rights shall specifically include as an appurtenance thereto Vacation Points.
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Related to Owner Beneficiary Rights

  • Remainder beneficiary means a person entitled to receive principal when an income interest ends.

  • Beneficiary(ies means the individual or individuals designated in the Application by the Subscriber(s) to whom, or on whose behalf, Educational Assistance Payments are agreed to be paid, provided such individual qualifies under the Applicable Legislation and the Plan at the time such payments are made;

  • Third Party Beneficiary means each of the non-NHS bodies set out in the list attached at Schedule 1, as supplied from time to time by the Authority to the Contractor;

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • land reform beneficiary , in relation to a property, means a person who -

  • Third Party Beneficiaries has the meaning ascribed thereto in Section 8.8(1).

  • de facto spouse means a person of the opposite sex to the employee who lives with the employee as the husband or wife of the employee on a bona fide domestic basis, although not legally married to that person.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Initial Beneficiary means ALF LLC, as initial beneficiary under the Titling Trust Agreement and its permitted successors and assigns.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will receive any direct or indirect financial benefit from a Development, except as further described in Rule 67-21.0025, F.A.C.

  • Beneficiaries means any Person to whom the Issuer is or hereafter becomes indebted or liable.

  • Purported Beneficial Transferee means, with respect to any purported Transfer (or other event) which results in a transfer to a Trust, as provided in Section 6.2.2 of this Article VI, the Purported Record Transferee, unless the Purported Record Transferee would have acquired or owned shares of Capital Stock for another Person who is the beneficial transferee or owner of such shares, in which case the Purported Beneficial Transferee shall be such Person.

  • Former Spouse means the individual who is considered by Applicable Laws to be the Annuitant’s former spouse or common-law partner;

  • Erroneous Payment Subrogation Rights has the meaning assigned to it in Section 10.13.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Joint Annuitant means the individual specified as such in the Data Pages. The Joint Annuitant must be the spouse of the Annuitant on the Contract Date.

  • Qualified Beneficiaries has the meaning set forth in Section 4.12.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.