Examples of Resort Documents in a sentence
For those amenities that are not common elements of the Condominium, Owners have easement rights for the use of such amenities pursuant to the Master Declaration and are required to pay their proportionate share of maintaining such facilities pursuant to and as set forth in the Resort Documents.
Borrower or its Affiliates (i) shall use its commercially reasonable efforts to cause each Association to (A) discharge its obligations under the applicable Resort Documents and (B) maintain a reasonable reserve for capital improvements to the applicable Resort; and (ii) so long as Borrower or its Affiliates controls the Association, shall pay to such Association any amounts as and when required of Borrower or its Affiliates under the Resort Documents.
Borrower and its Affiliates shall comply with all of their obligations under the applicable Resort Documents.
Borrower and its Affiliates shall not amend, modify, waive or terminate any of the Resort Documents, or enter into or permit the Associations to enter into any new Resort Documents which would in any way materially and adversely alter the Resorts, the rights of Obligors, the rights of any lender foreclosing on a Vacation Ownership Interest or any priority of past due assessment claims over the lien of any mortgage, as applicable.
Each Resort Document complies in all material respects with all Applicable Law and there exists no outstanding violations or breaches of any such Resort Documents, including, without limitation, the Club Trust Agreement.
Costs and expenses incurred by the Club in connection with the operation of the reservation system and the delivery of other Club services and benefits shall constitute common expenses of the Club and shall be charged as Club Dues to individual Club Members or each Club Resort, as more specifically provided in the Resort Documents.
In those calendar years when Week 53 occurs, as defined in the Resort Documents for each Club Resort, Week 53 may be reserved for use by the person to whom such use is assigned pursuant to the Resort Documents; however, Week 53 may not be deposited with the Club, and no Club Points will be assigned to Week 53, except as may be permitted from time to time as a Special Exchange Program.
The Managing Entity of each Component Resort shall have the responsibility for promulgating a Component Resort Operating Budget each calendar year in the manner required by applicable law, which budget shall include the Component Resort’s share of the Club Dues as charged by HVGG in accordance with the Resort Documents.
Pursuant to the Resort Documents for such Component Resorts, the Managing Entity is obligated to collect and remit to HVGG the total amount of Club Dues which are charged against such owners.
However, so long as any Managing Entity has assigned its rights in maintenance weeks in a Club Resort to the Club, pursuant to the terms of the Resort Agreement, the Club shall periodically assign the use of each Unit in such Club Resort for maintenance purposes to the Managing Entity on a “super-priority” basis pursuant to the Club Documents and the Resort Documents during the term of the Resort Agreement.