Vacation Ownership Competitor definition

Vacation Ownership Competitor means any Person or an Affiliate of any Person that (i) owns or has direct or indirect Ownership Interest in a Vacation Ownership Competitor Chain or (ii) is a master franchisee, master franchisor or subfranchisor for a Vacation Ownership Competitor Chain (for the purposes hereof, the terms master franchisee, master franchisor, and subfranchisor each mean a Person that has been granted the right by a franchisor to offer and sell subfranchises for such Person’s own account). A Person that has an interest in a Vacation Ownership Competitor Chain merely as a franchisee or as a mere passive investor that has no Control or influence over the business decisions of the Vacation Ownership Competitor Chain, such as limited partners in a partnership or as a mere non-Controlling stockholder in a corporation, is not a Vacation Ownership Competitor for purposes of this Agreement.

Examples of Vacation Ownership Competitor in a sentence

  • If a financing has been approved by Starwood under Section 18.5A(i) or Section 18.5A(ii) above, thereafter any such lender participating in such financing shall not subsequently assign, transfer, convey or sell participations in such financing to any Person other than an Institutional Lender that is not an Affiliate of Vistana, a Lodging Competitor or a Vacation Ownership Competitor, without the prior written consent of Starwood, which consent may be withheld in Starwood’s sole discretion.

  • The Credit Agreement shall provide, and the Administrative Agent shall ensure, that no Lender shall assign, transfer, convey or sell participations in the commitments or loans under the Credit Agreement to any Person that is an Affiliate of Vistana, a Lodging Competitor or a Vacation Ownership Competitor, without the prior written consent of Starwood, which consent may be withheld in Starwood’s sole discretion.

Related to Vacation Ownership Competitor

  • Direct Competitor means any individual, partnership, corporation, limited liability company, association, or other group, however organized, who competes with the Company in the full service restaurant business.

  • Company Competitor means any competitor of the Borrower and/or any of its subsidiaries.

  • multiple-employer workplace means a workplace where workers of 2 or more employers are working at the same time:

  • Competitor means any individual, corporation, partnership or other entity that engages in (or that owns a significant interest in any corporation, partnership or other entity that engages in) any business conducted by the Company or any of its Affiliates.

  • Company Employee means an employee of the Company or an employee of a Subsidiary of the Company, if any.

  • Access Compensation is the compensation paid by one Party to the other Party for the origination/termination of intraLATA toll calls to/from its End User. Access compensation is in accordance with the LEC’s tariffed access rates.

  • Competitive integrated employment means work (including self-employment) that is performed on a full-time or part-time basis:

  • Affiliated employee means any individual employed by a recipient who receives compensation directly from government assistance or a contract with the District of Columbia government, including any employee of a contractor or subcontractor of a recipient who performs services pursuant to government assistance or a contract. The term “affiliated employee” does not include those individuals who perform only intermittent or incidental services with respect to the government assistance or contract, or who are otherwise employed by the contractor, recipient or subcontractor.

  • Management Company Employee means an individual employed by a Person providing management services to the Company which are required for the ongoing successful operation of the business enterprise of the Company, but excluding a Person engaged in Investor Relations Activities;

  • Multiple employer welfare arrangement means a multiple employer welfare arrangement

  • Company Personnel means any current or former officer, employee, director or consultant of the Company or any of its Subsidiaries.

  • Affiliated Employer means any corporation which is a member of a controlled group of corporations (as defined in Code Section 414(b)) which includes the Employer; any trade or business (whether or not incorporated) which is under common control (as defined in Code Section 414(c)) with the Employer; any organization (whether or not incorporated) which is a member of an affiliated service group (as defined in Code Section 414(m)) which includes the Employer; and any other entity required to be aggregated with the Employer pursuant to Regulations under Code Section 414(o).

  • Restricted Employee means any person who was a director, employee or consultant of the Company at any time within the Relevant Period who by reason of that position and in particular his seniority and expertise or knowledge of Confidential Information or knowledge of or influence over the clients, customers or contacts of the Company is likely to cause damage to the Company if he were to leave the employment of the Company and become employed by a competitor of the Company;

  • Bona fide employee means a person, employed by a bidder and subject to the bidder's supervision and control as to time, place, and manner of performance, who neither exerts, nor proposes to exert improper influence to solicit or obtain contracts nor holds out as being able to obtain any contract(s) through improper influence.

  • Competitive employment means work in the competitive labor market that is performed on a full-time or part-time basis in an integrated setting and for which the client is compensated at or above the minimum wage, but not less than the customary wage and level of benefits paid by the employer for the same or similar work performed by individuals who are not disabled.

  • Competitive Business Activity means:

  • Non-Key Employee means any Employee who is not a Key Employee.

  • Affiliated Entity means any entity controlling, controlled by, or under common control with an Insured.

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Business Benefit Plan means each Benefit Plan that is contributed to, sponsored, maintained or entered into by Seller or a Retained Subsidiary, a Purchased Subsidiary or any Affiliate of any of them for the benefit of any Business Employee.

  • Active business operations means all business operations that are not inactive business operations.

  • Permanent part-time employee means a person who is appointed to work hours that are less in number than a full-time employee and who is appointed as such in accordance with section 37(3)(a) of the State Service Act 2000.

  • Employer as defined in Section 3(5) of ERISA.

  • Company Control Person means each director, executive officer, promoter, and such other Persons as may be deemed in control of the Company pursuant to Rule 405 under the 1933 Act or Section 20 of the 1934 Act (as defined below).

  • Tipped employee means any employee engaged in an occupation in which s/he customarily and regularly receives more than $30 per month in tips. Tips include amounts designated as a tip by credit card customers on their charge slips. Nothing in this rule prevents an employer from requiring employees to share or allocate such tips or gratuities on a pre-established basis among other employees who customarily and regularly receive tips. Employer-required sharing of tips with employees who do not customarily and regularly receive tips, such as management or food preparers, or deduction of credit card processing fees from tipped employees, shall nullify allowable tip credits towards the minimum wage.

  • Business Continuity Plan means any plan prepared pursuant to clause H5.6, as may be amended from time to time.