Time share association definition

Time share association the association established or to be established in accordance with the applicable Time-Share Declaration to manage the applicable Time-Share Program and in which at least all owners of Real Property Time-Share Interests will be members.
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Time share association means an "association" as that term is defined in section 514E-1;
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Time share association. Greensprings Plantation Resort Owners Association, a Virginia non-stock corporation, the association provided for in the Time-Share Declaration to manage the Time-Share Program and in which all owners of Time-Share Interests are members.
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Examples of Time share association in a sentence

  • Annual statements of Borrower and of each Time-Share Association shall be audited, certified by a recognized firm of certified public accountants reasonably satisfactory to Lender.

  • All financial statements of Borrower and of each Time-Share Association shall be certified by the chief financial officer of such entity.

  • Borrower will maintain or cause the Time-Share Association to maintain a reasonable reserve to assure compliance with the terms of the foregoing sentence, to the extent that Borrower is in control of the applicable Time-Share Association.

  • Upon and after closing of the Time-Share Interest purchased, each Purchaser will automatically be a member of the Time-Share Association and will be entitled to vote on the affairs thereof.

  • Lender shall have received, in form and substance satisfactory to Lender, the results of UCC searches with respect to Borrower and the Time-Share Association and lien, litigation, judgment and bankruptcy searches for Borrower, any and all Guarantors and (if existing) the Time-Share Association conducted in such jurisdictions and for such other entities as Lender deems appropriate.

  • Teton will maintain or cause to be maintained in good condition and repair all common areas in the Time-Share Project and other on-site amenities which have been promised or represented as being available to Purchasers and which are not the responsibility of the Time-Share Association to maintain and repair, to the extent owned by Borrower or an Affiliate of Borrower, all portions of improvements in which Units are located and are not part of the Time-Share Project.

  • When a Purchaser closes the purchase of a Time-Share Interest, such Purchaser automatically becomes a member of the Time-Share Association; and will thereafter remain a member of the Time-Share Association and be entitled to vote on the affairs thereof, subject only to retaining ownership of a Time-Share Interest.

  • Time-Share Management Agreement": the management agreement from time to time entered into between the Time-Share Association and the Time-Share Manager for the management of the Time-Share Program.

  • Each Purchaser, upon the closing of the purchase by such Person of a Time-Share Interest, automatically became a member of the applicable Time-Share Association, and is thereafter entitled to remain a member of the Time-Share Association and be entitled to vote on the affairs thereof, subject only to retaining ownership of a Time-Share Interest.

  • In the event Borrower is no longer in control of such Time-Share Association, Borrower shall use reasonable good faith efforts to cause such Time-Share Association to include within its budget a reasonable reserve to assure compliance with the terms of this paragraph 6.1(k).


More Definitions of Time share association

Time share association means an "association"
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Time share association. A not-for-profit corporation under applicable state law which is responsible for operating and maintaining a Resort or an Additional Resort pursuant to the terms of a declaration and/or time share declaration.
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Related to Time share association

  • the Association means the Association referred to in rule 1;

  • Bona fide association means, with respect to health insurance coverage offered in this

  • Trade association means an entity recognized by the State in which the entity is doing business as a trade association and shall not include an organization that is formed for the purposes of providing insurance. “Transaction cutoff date” for weekly data reporting is 8 p.m. Central time on Friday of each week and for monthly data reporting is 8 p.m. Central time on Friday after the first Sunday of the month.

  • Savings association means a Fed- eral savings and loan association or a Federal savings bank chartered under section 5 of the Home Owners’ Loan Act, a building and loan, savings and loan or homestead association or a co- operative bank (other than a coopera- tive bank described in 12 U.S.C. 1813(a)(2)) the deposits of which are in- sured by the Federal Deposit Insurance Corporation, and any corporation (other than a bank) the deposits of which are insured by the Federal De- posit Insurance Corporation that the Office of the Comptroller of the Cur- rency and the Federal Deposit Insur- ance Corporation jointly determine to be operating in substantially the same manner as a savings association, and shall include any savings bank or any cooperative bank which is deemed by the Office of the Comptroller of the Currency to be a savings association under 12 U.S.C. 1467a(1).

  • Time-share estate means a right to occupy a condominium unit or any of several condominium units during 5 or more separated time periods over a period of at least 5 years, including renewal options, coupled with a freehold estate or an estate for years.

  • Member Association means any national football association affiliated to FIFA, irrespective of whether its representative team is participating in the Competition.

  • Community association means an association in which membership is a condition of ownership or shareholder interest of a unit in a condominium, cooperative, townhouse, villa, or other residential unit that is part of a residential development plan as a master association or common interest community and that is authorized to impose an assessment and other costs that may become a lien on the unit or lot.

  • Time share means a right to occupy a unit or any of several units during 5 or more separated time periods over a period of at least 5 years, including renewal options, whether or not coupled with an estate or interest in a common interest community or a specified portion thereof.

  • Time-share unit means a condominium unit in which a time-share estate or a time-share license exists.

  • Participating Corporation means any Parent, Subsidiary or Affiliate that the Committee designates from time to time as eligible to participate in this Plan. For purposes of the Section 423 Component, only the Parent and Subsidiaries may be Participating Corporations, provided, however, that at any given time a Parent or Subsidiary that is a Participating Corporation under the Section 423 Component shall not be a Participating Corporation under the Non-Section 423 Component. The Committee may provide that any Participating Corporation shall only be eligible to participate in the Non-Section 423 Component.

  • Cooperative association means any of the following:

  • Master association means an organization that is authorized to exercise some or all of the powers of one or more associations on behalf of one or more common interest communities or for the benefit of the unit owners of one or more common interest communities.

  • Firearm trade association means any person, corporation, unincorporated association, federation, business league, or business organization that:

  • Transferee Company means any company or body corporate established in the Islands or in any other jurisdiction.

  • Limited cooperative association means, with respect to a Wisconsin cooperative, a cooperative organized under ch. 193.

  • Owners Association means any association or organization created pursuant to the Owners’ Association Documents.

  • Company Shareholder means any holder of any Company Shares.

  • Public corporation means the same as that term is defined in Section 63E-1-102.

  • Association of unit owners means all of the unit owners:

  • professional association means a self-regulatory organization of engineers, geoscientists or both engineers and geoscientists that

  • Participating Share or “Share” means the Participating Shares of no par value in the

  • Participating Shares means shares that entitle their holders to participate without limitation in distributions.

  • First-time home buyer means an individual or his or her spouse or domestic partner who have not owned a home during the three-year period prior to purchase of a home.

  • Affiliated Association means an Association accorded the status of an Affiliated Association under the rules of The FA.

  • STC means the Special Terms and Conditions of Contract.