Vacation Ownership Interests definition

Vacation Ownership Interests means timeshare, fractional, interval, vacation club, destination club, vacation membership, private membership club, private residence club, points club, and other forms of products, programs and services, in each case wherein purchasers acquire an Ownership Interest in, use right of or other entitlement to use (including through interests in a land trust or similar real estate vehicle and regardless of whether the Ownership Interest, use right or other entitlement is expressed in the form of points, deeded weeks or other currency) one or more of certain determinable overnight accommodations and associated facilities in a system of units and facilities on a recurring, periodic basis and pay for such Ownership Interest, use right or other entitlement in advance (whether payments are made in lump-sum or periodically over time), and associated Exchange Programs.
Sample 1Sample 2Sample 3
Vacation Ownership Interests means timeshare, fractional, interval, vacation club, destination club, vacation membership, private membership club, private residence club, points club, and other forms of products, programs and services, in each case wherein purchasers acquire an ownership interest in, use right of or other entitlement to use (including through interests in a land trust or similar real estate vehicle and regardless of whether the ownership interest, use right or other entitlement is expressed in the form of points, deeded weeks or other currency) one or more of certain determinable overnight accommodations and associated facilities in a system of units and facilities on a recurring, periodic basis and pay for such ownership interest, use right or other entitlement in advance (whether payments are made in lump-sum or periodically over time).
Sample 1Sample 2Sample 3
Vacation Ownership Interests means timeshare, fractional, interval, vacation club, destination club, vacation membership, private membership club, private residence club, points club, and other forms of such products, programs and services, whether deeded or non-deeded, in each case wherein purchasers acquire an ownership interest in, use right of or other entitlement to use (including through interests in a land trust or similar real estate vehicle or through an association or other entity and regardless of whether the ownership interest, use right or other entitlement is expressed in the form of points, deeded weeks or other currency) one or more of certain overnight accommodations and associated facilities in a system of units and facilities on a recurring, periodic basis and pay for such ownership interest, use right or other entitlement in advance (whether payments are made in lump-sum or periodically over time), in whatever manner such deeded or non-deeded ownership interests or rights to use may be created, denominated, or defined in the applicable Offering Documents.
Sample 1Sample 2Sample 3

Examples of Vacation Ownership Interests in a sentence

  • Take such action with respect to each Pledged Loan as is necessary to ensure that the Collateral Agent maintains on behalf of the Trustee, a first priority perfected security interest in such Pledged Loan and the Pledged Assets relating thereto and all other Collateral, in each case free and clear of any Liens (other than the Lien created by this Indenture and in the case of any Vacation Ownership Interests, any Permitted Encumbrance).

  • The Issuer is the lawful owner of, and has good title to, each Pledged Loan and all related Pledged Assets, free and clear of any Liens (other than the Lien of this Indenture and any Permitted Encumbrances on the related Vacation Ownership Interests), or has a first-priority perfected security interest therein.

  • Availability of accommodations within the External Exchange Company’s system is entirely dependent upon the Vacation Ownership Interests from various member resorts that are deposited into the External Exchange Company’s system by other members of the External Exchange Company system from time to time.

  • Fixed Reservation Period Owners who own multiple Vacation Ownership Interests shall determine, at the time of request, if the Fixed Reservation Period Owner desires to “protect” a particular Vacation Period subject to a Fixed Reservation Right if the applicable Request List or Wait List accessed is confirmed.

  • The Issuer shall remit to the Collection Account the portion of any proceeds received by the Issuer pursuant to a condemnation of property in any Resort to the extent that such proceeds relate to any of the Vacation Ownership Interests.

  • Biennial Vacation Ownership Interests are further identified and designated as either Even Year Vacation Ownership Interests or Odd Year Vacation Ownership Interests.

  • Unless the context requires otherwise, all references to “Vacation Ownership Interests” include Biennial Vacation Ownership Interests.

  • However, any Trust Association Expenses incurred during the guarantee period resulting from a natural disaster or an act of God, which are not covered by insurance proceeds from the insurance maintained by the Trust Association, will be assessed against all Owners owning Vacation Ownership Interests on the date of such natural disaster or act of God, including the Trust Developer.

  • Unlike the Trust Developer, an Owner owning multiple Vacation Ownership Interests will not and cannot have those Vacation Ownership Interests merge.

  • Furthermore, any Owner who attempts to rent the Owner’s Vacation Period will experience considerable competition from resort hotels near Component Sites (including those owned or operated by ILG Companies) and from the Trust Developer who will be renting Vacation Periods from its unsold inventory.The Trust Developer has no obligation to assist Owners in the resale of Vacation Ownership Interests or to provide financing for any such resale.


More Definitions of Vacation Ownership Interests

Vacation Ownership Interests means the right to use (whether arising by virtue of a deeded interest in real property or otherwise, including pursuant to a Club Membership Interest), a fully-furnished vacation residence (whether specifically identified or not) for a specified period each year or otherwise.
Sample 1Sample 2
Vacation Ownership Interests means the right to use (whether arising by virtue of a deeded interest in real property or otherwise, including pursuant to a membership interest in the Vacation Club), a fully-furnished vacation residence (whether specifically identified or not) in the Resort for a specified period each year or otherwise.
Sample 1Sample 2
Vacation Ownership Interests has the meaning set forth in the Merger Agreement.
Sample 1Sample 2
Vacation Ownership Interests. Estimated gross contract sales:________ Estimated number of Residential Units:_________ Estimated gross contract sales:________
Sample 1
Vacation Ownership Interests or "VOI's": vacation ownership interests, interval ownership interests, timeshare estates, timeshare licenses, fractional ownership, vacation club, right-to-use or any other form of vacation ownership program.
Sample 1

Related to Vacation Ownership Interests

  • Ownership Interests means, with respect to any Person, all of the shares of Capital Stock of such Person and all debt securities of such Person that can be converted or exchanged for Capital Stock of such Person, whether voting or nonvoting, and whether or not such Capital Stock or debt securities are outstanding on any date of determination.

  • Indirect Ownership Interest means an ownership interest in an entity that has an ownership interest in another entity. Indirect ownership interest includes an ownership interest in an entity that has an indirect ownership interest in another entity.

  • Applicable Ownership Interest means, with respect to the Treasury portfolio,

  • Membership Interests has the meaning set forth in the recitals.

  • Continuing ownership interest means ownership of or entitlement to more than twenty five per cent of shares or capital or profits of the company;

  • Beneficial Ownership Interest means the right to receive payments and notices with respect to the Bonds held in a Book Entry System.

  • Common ownership means the same or substantially similar persons or entities that maintain a

  • Partnership Interests shall have the meaning specified in Section 6.3 [Subsidiaries].

  • Controlling ownership interest means ownership of or entitlement to more than twenty-five percent of shares or capital or profits of the company;

  • Ownership Interest As to any Certificate, any ownership or security interest in such Certificate, including any interest in such Certificate as the Holder thereof and any other interest therein, whether direct or indirect, legal or beneficial, as owner or as pledgee.

  • Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Agreement.

  • Pledged Partnership Interests means all interests in any general partnership, limited partnership, limited liability partnership or other partnership including, without limitation, all partnership interests listed on Schedule 4.4(A) under the heading “Pledged Partnership Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such partnership interests and any interest of such Grantor on the books and records of such partnership or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such partnership interests.

  • Partnership Interest means an ownership interest in the Partnership held by either a Limited Partner or the General Partner and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement.

  • LLC Interests shall have the meaning given to such term in Section 5.1.3.

  • Transferred Interests has the meaning set forth in the Recitals.

  • Partnership Assets means all assets, whether tangible or intangible and whether real, personal or mixed (including, without limitation, all partnership capital and interest in other partnerships), at any time owned by any Pledgor or represented by any Partnership Interest.

  • Membership Rights means all of the rights of a Member in the Company, including a Member’s: (a) Interest; (b) right to inspect the Company’s books and records; (c) right to participate in the management of and vote on matters coming before the Company; and (d) unless this Operating Agreement or the Certificate of Formation provide to the contrary, right to act as an agent of the Company.

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of such Act.

  • Class B Interests As set forth in the Trust Agreement.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Voting Equity Interests means Equity Interests in a corporation or other Person with voting power under ordinary circumstances entitling the holders thereof to elect the Board of Directors or other governing body of such corporation or Person.

  • Common Interests of any Person means Capital Interests in such Person that do not rank prior, as to the payment of dividends or as to the distribution of assets upon any voluntary or involuntary liquidation, dissolution or winding up of such Person, to Capital Interests of any other class in such Person.

  • Interests when used herein shall have the respective meanings specified in the Declaration of Trust of the Trust.

  • Controlling ownership interested means ownership of or entitlement to more than twenty five percent of shares or capital or profits of the Company;

  • Deemed Partnership Interest Value means, as of any date with respect to any class of Partnership Interests, the Deemed Value of the Partnership Interests of such class multiplied by the applicable Partner's Percentage Interest of such class.