Vacation Ownership Unit definition

Vacation Ownership Unit means a physical unit used for overnight accommodation as part of a Vacation Ownership Interest.
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Vacation Ownership Unit means a physical unit or accommodation, whether or not subject to an underlying condominium plan or timeshare plan, used for overnight accommodation in conjunction with the rights afforded to the owner of a Vacation Ownership Interest.
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Examples of Vacation Ownership Unit in a sentence

  • The books and records of the Associations are correct and complete in all material respects and all Association funds collected from Vacation Ownership Unit owners and VOI owners have been properly accounted for and expended solely for such purposes as are authorized under the bylaws of each Association, except where such failures would not have an Acquired Company Material Adverse Effect.

  • As of the date of the closing, all homeowner funds received by the Acquired Companies, for the benefit of the Vacation Ownership Unit owners and VOI owners having use and accompanying rights subsequent to the date hereof, have been duly accounted for and reflected in the Association Financials.

  • Vistana shall not facilitate the exchange by Owners of any Licensed Vacation Ownership Interests or Licensed Unbranded Vacation Ownership Interests of their right to use and occupy a Licensed Vacation Ownership Unit or Licensed Unbranded Vacation Ownership Unit for stays (or other benefits) at Hotels other than those operated or franchised by Starwood or its Affiliates, except through Exchange Programs approved by Starwood pursuant to this Section 8.4.