Timeshare Act definition

Timeshare Act means any statute, act, regulation, ordinance, rule or law applicable to the establishment and operation of the Resorts and the sales of the Intervals.

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Timeshare Act means the applicable timeshare act, statute and regulations in each jurisdiction in which a Resort is located, including, without limitation, Arizona, Nevada, Indiana, Colorado and Mexico.

Timeshare Act means the Florida Vacation Plan and Timeshare Act, Chapter 721 of the Florida Statutes and where required Equivalent Acts.

Examples of Timeshare Act in a sentence

Any registration statement required under any Timeshare Act approving the establishment and operation of the Resorts and the sales of Intervals.
Borrower shall not market, attempt to sell or sell or permit or justify any sales or attempted sales of any Intervals except in compliance with the Timeshare Act and applicable laws in state and other jurisdictions where marketing, sales or solicitation activities occur.
Each Resort has been established and dedicated, and is and will remain, a time-share plan and project in full compliance with all applicable laws and regulations, including without limitation, the Timeshare Act.
All insurance policies required pursuant to this Agreement (or the Timeshare Documents or Timeshare Act) shall provide that the coverage afforded thereby shall not expire or be amended, canceled, modified or terminated without at least thirty (30) days prior written notice to Agent.
Borrower has received no notice from any court, governmental authority or other tribunal alleging that Borrower or the Resort have violated the Timeshare Act, any of the rules or regulations thereunder, the Declaration or any other applicable laws, agreements or arrangements that could have any material effect on the Loan, the Collateral or the Resorts.
Borrower shall at all times (i) maintain its legal existence, (ii) maintain its qualification to transact business and good standing in any state and in any jurisdiction where it conducts business in connection with the Resorts, and (iii) comply or cause compliance with all governmental laws, rules, regulations and ordinances applicable to the Resorts, Borrower or its business, including, without limitation, the Timeshare Act.
Borrower shall not market, attempt to sell or sell or permit or justify any sales or attempted sales of any Intervals except in compliance with the Timeshare Act and Applicable Laws in state and other jurisdictions where marketing, sales or solicitation activities occur.
All insurance policies required pursuant to this Agreement (or the Timeshare Documents or Timeshare Act) shall provide that the coverage afforded thereby shall not expire or be amended, canceled, modified or terminated without at least thirty (30) days prior written notice to Lender.
In the event of any insured loss or claim in respect of the Resorts or the Units, Borrower shall apply (or cause to be applied), and Borrower covenants that the Timeshare Owners’ Association shall apply (or cause to be applied), all proceeds of such insurance policies in a manner consistent with the Timeshare Documents and the Timeshare Act.
In the event of any insured loss or claim in respect of the Resort or any real property comprising the Additional Resort Collateral, Borrower shall apply (or cause to be applied), and Borrower covenants that the Timeshare Owners' Association shall apply (or cause to be applied), all proceeds of such insurance policies in a manner consistent with the Timeshare Documents and the Timeshare Act.

More Definitions of Timeshare Act

Timeshare Act means any and all laws governing timeshares as enacted in the State in which the Component Sites are located.

Timeshare Act means, collectively, those certain timeshare acts or other laws, if any, as the same may be amended from time to time, and any rules and regulations promulgated thereunder, and any subsequent statutes that may be enacted pertaining to the development, establishment, existence, or operation of interval ownership, timeshare membership or vacation ownership or membership resorts or any matter whatsoever relating thereto in the states where each of the Resorts are located, including, but not limited to, Nevada, Illinois, Missouri and Texas.

Timeshare Act means the applicable state statute or other law in the state or other jurisdiction in which a Project is located which governs the creation and regulation of timeshare projects in such state, as it may be amended. Timeshare Approvals means all approvals, registration and licenses required from governmental agencies in order to sell Timeshare Interests and offer them for sale, to operate the Projects as timeshare projects, to make Timeshare Loans and to own, operate and manage the Projects, including without limitation, the registrations/consents to sell, the final subdivision public reports/public offering statements and/or prospectuses and approvals thereof required to be issued by or used in the jurisdiction where the applicable Project is located and other jurisdictions where Timeshare Interests have been offered for sale or sold.

Timeshare Act means the Florida Vacation Plan and Timeshare Act, Chapter 721 of the Florida Statutes.

Timeshare Act means with respect to each Eligible Project, the statutes and regulations related to timeshare development and sales of the jurisdiction where such Eligible Project is located, as they may be amended from time to time.