Vacation Interest definition

Vacation Interest means the vacation certificate or stock certificate issued by and evidencing membership in a homeowner’s association of a Resort pursuant to which the owner thereof has a license or right-to-use a Timeshare Property at a Resort.
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Vacation Interest means the possessory rights, occupancy rights or usage rights in accommodation and related facilities for a period of time during any given year, and which rights extend for any period prescribed or allowed by applicable law for establishing a timeshare plan.
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Vacation Interest means the ownership of or the tight to use a Unit and the amenities and facilities of a Vacation Ownership Resort for at least one week during any given year, but not necessarily consecutive years, and which extends for a period of at least three years.
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Examples of Vacation Interest in a sentence

  • To the extent that any Timeshare Property or Vacation Interest related to a Defaulted Timeshare Loan is remarketed, the Servicer agrees that it shall require that any Liquidation Proceeds be in the form of cash only.

  • The Acquired Companies transferred, or caused to be transferred to the Trust -- and, to Sellers' Knowledge, the Trustee has -- good record title to sufficient Vacation Interests and Beneficial Use Rights to comply with the terms and provisions of the Trust Agreement and to maintain the One-to-One Member to Vacation Interest Ratio Requirement.

  • A Right-to-Use Interest shall include the Vacation Interest and any Points.

  • The seller of the Vacation Interest and the Program’s operator (“Exchange Company”) should not represent to the buyer that the likelihood of any specific exchange opportunity is greater than is probable for that buyer’s Vacation Interest.

  • The Party proposing disclosure shall thereafter be free to publish or disclose the information, subject to any reductions or modifications requested by the Development Committee.

  • The term “Premium” includes any gift, award, prize, or anything of value offered or distributed to a consumer by a Member in connection with the solicitation or the sale of a Vacation Interest.

  • I.6 VACATION INTEREST POLICIES For transactions in which the EAGLE 9™ UCC Vacation Interest Policy is issued, the rate is $75 per policy.

  • Additionally, AFFILIATE and/or ASSOCIATION agree to provide INTERVAL with prompt written notice in the event any Individual Member rescinds his/her purchase of a Vacation Interest at the PROJECT.

  • If the Vacation Interest, including any accommodations, amenities and services (except incidental benefits), cannot be delivered to consumers free and clear of liens and encumbrances affecting use and ownership of the Vacation Interest for its intended purpose, then such liens and encumbrances should be fully subordinated or non- disturbed or the rights of the consumers otherwise protected through a security such as a surety bond or letter of credit from an independent source.

  • By conducting these magnetic lines of force to the ground, the ignition harness cuts down electrical interference with the aircraft radio and other electrically sensitive equipment.


More Definitions of Vacation Interest

Vacation Interest means (i) a timeshare fee estate in real property at any Vacation Ownership Resort and (ii) a Membership Interest in a Vacation Club which holds fee title or a long-term lease to the related Vacation Ownership Resort.
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Related to Vacation Interest

  • Vacation means annual vacation with pay.

  • Participation Interest means the purchase by a Lender of a participation interest in Letters of Credit as provided in Section 2.2 and in Swingline Loans as provided in Section 2.3.

  • Proportionate Interest has the meaning specified in Section 2.5(d);

  • Vacation rental means the lease, sublease, or other rental of residential property for a period of fewer than ninety days, except that it does not include rental of residential property on a weekly or monthly basis pursuant to Chapter 40 of this title, the South Carolina Residential Landlord and Tenant Act.

  • Advance Interest means the interest accrued on any Servicing Advance which is payable to the party that made that Servicing Advance, in accordance with the Lead Securitization Servicing Agreement.

  • Income interest means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.

  • Accrued Note Interest means, for a Class and a Payment Date, the sum of the Note Monthly Interest and the Note Interest Shortfall.

  • Property Advance means an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the security for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.

  • Asset Interest is defined in Section 2.1(b).

  • Simple interest means interest computed on the principal balance outstanding

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.

  • Current Sick Leave means those days of sick leave for the current contract year, which leave is granted at the rate of one day of sick leave per month worked, or major part thereof.

  • Transferred Interest means, at any time of determination, an undivided percentage ownership interest in (i) each and every then outstanding Receivable, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) other Proceeds of the foregoing, which undivided ownership interest shall be equal to the Aggregate Percentage Factor at such time, and only at such time (without regard to prior calculations). The Transferred Interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, shall at all times be equal to the Transferred Interest in each other Receivable, together with Related Security, Collections and Proceeds with respect thereto. To the extent that the Transferred Interest shall decrease as a result of a recalculation of the Aggregate Percentage Factor, the Administrative Agent on behalf of the applicable Class Investors shall be considered to have reconveyed to the Transferor an undivided percentage ownership interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, in an amount equal to such decrease such that in each case the Transferred Interest in each Receivable shall be equal to the Transferred Interest in each other Receivable.

  • Accrued Certificate Interest With respect to each Distribution Date, as to any Class or Subclass of Certificates (other than any Principal Only Certificates), interest accrued during the related Interest Accrual Period at the related Pass-Through Rate on the Certificate Principal Balance or Notional Amount thereof immediately prior to such Distribution Date. Accrued Certificate Interest will be calculated on the basis of a 360-day year, consisting of twelve 30-day months. In each case Accrued Certificate Interest on any Class or Subclass of Certificates will be reduced by the amount of:

  • Vacation Year means the twelve (12) month period commencing on the first (1st) day of April in each calendar year and concluding on the thirty-first (31st) day of March of the following calendar year.

  • accrued is used in its accounting sense, i.e., an amount paid is no longer accrued. In the calculation of amounts of things, differences and sums may generally result in negative numbers, but when the calculation of the excess of one thing over another results in zero or a negative number, the calculation is disregarded and an "excess" does not exist. Portions of things may be expressed as fractions or percentages interchangeably.

  • Deferred Interest shall have the meaning set forth in Section 4.1.

  • Insurable interest as used in this section means any actual, lawful, and substantial economic interest in the safety or preservation of the subject of the insurance free from loss, destruction, or pecuniary damage or impairment.

  • Common Interest means employers engaged in the same industry or members of an Oklahoma trade association that has been in business for at least five (5) years.

  • Base Interest means the interest that would otherwise accrue on the Securities under the terms thereof and the Indenture, without giving effect to the provisions of this Agreement.

  • Accrued Interest means, with respect to Single Family Shared-Loss Loans, the amount of earned and unpaid interest at the note rate specified in the applicable loan documents, limited to 90 days.

  • Paid sick leave – means paid leave under the Emergency Paid Sick Leave Act.

  • Earned Interest means the interest and other income actually received or credited on the investment of the Escrowed Funds between the date hereof and the earlier to occur of the Acquisition Closing Date and the Termination Date.

  • Certificate Interest means the allocable percentage interest of a Certificate held by a Certificateholder.

  • Participation Interests shall have the meaning specified in subsection 2.09(a)(ii).