Examples of Vacation Club Manager in a sentence
At all times during the Term, the Vacation Club Manager shall have substantial experience and expertise in the hospitality industry, with respect to an operation substantially similar to the Vacation Club.
So long as Borrower or its Affiliates are in control of the Associations, Borrower or its Affiliates shall maintain or cause each Association managed by the Vacation Club Manager to maintain a reasonable reserve to assure compliance with the terms of the foregoing sentence.
All the insurance required by the Declarations related to Associations, other than those related to FBS Resorts, managed by the Vacation Club Manager, the Loan Documents and this Agreement to be obtained has been obtained, is presently in full force and effect and all premiums thereon have been fully paid when due to date.
All the insurance required by the Declarations related to Associations managed by the Vacation Club Manager, the Loan Documents and this Agreement to be obtained has been obtained, is presently in full force and effect and all premiums thereon have been fully paid when due to date.
Notwithstanding anything herein or elsewhere to the contrary, to the extent that Borrower agrees to cause any Association to take or refrain from taking any action, such agreement shall only apply with respect to any Association if Borrower or any of its Affiliates has direct or indirect control of any Association at such time or if such Association is managed by the Vacation Club Manager.
Borrower or its Affiliates shall maintain or cause the Associations managed by the Vacation Club Manager to maintain all properties and assets material to their business, the Amenities, the Units and the Projects in good condition and make all necessary renewals, repairs, replacements, additions, betterments, and improvements thereto.
Agent shall receive certificates of insurance or policies of insurance evidencing that all insurance required by the Declarations related to Associations managed by the Vacation Club Manager or this Agreement is in force and will not be canceled without the notice as more specifically provided in and subject to Section 8.8.
The financial statements of the Associations managed by the Vacation Club Manager for their most recent respective fiscal year end, copies of which have been furnished to Agent, are complete and correct and fairly present the financial condition of such Associations as at such date and the results of the operations of such Associations for the period covered by such statement, all in accordance with GAAP.
To the extent within its control, the Company shall cause the Resort to be managed at all times by a Person or Persons who have substantial experience, background and demonstrated ability to perform, in accordance with a Management Agreement satisfactory to the Designated Representative, and who are in all other respects satisfactory to the Designated Representative, with the understanding that the Vacation Club Manager is satisfactory to the Designated Representative.
In addition, during the due diligence period, the Purchaser will have reasonable access to the Vendor’ key corporate management employees including their Chief Operating Officer, Corporate Financial Controller, Vice President of Operations, Project Coordinator, and Vacation Club Manager.