Club Members Sample Clauses

Club Members. Concurrently with the execution and delivery of this Lease. Tenant is entering into a certain Recreational Facilities Use Agreement (“Use Agreement”), subject to the terms of which Tenant agrees that at all times that the Leased Premises is open for business to the guests of Tenant’s “Big Cedar Lodge” resort (“Lodge Guests”), the owners of timeshare interests or occupants in Landlord’s “Big Cedar Wilderness Club”, “Paradise Point” and “Bluegreen Wilderness Club at Long Creek Ranch” developments (collectively. “Club Members”) will also be entitled to non-exclusive access to and the use of the facilities located at the Leased Premises and the activities offered therein in a manner substantially similar as available to Lodge Guests, and that the Leased Premises and the activities offered therein and thereon will not be operated to the exclusion of Club Members. In the event the Leased Premises is open to the general public, then any admission fee charged to the general public for entry into the Leased Premises shall be waived for the Club Members (if the same is waived for Lodge Guests). The Owner Associations (as defined in the Use Agreement) paid a Recreational Facilities Fee to Landlord in the total amount of Two Million ($2,000,000.00) Dollars which amount has been used to pay for a portion of the cost to construct the Leased Premises. If Tenant exercises the Option within the first five (5) years of the Term, then Landlord and Tenant agree a prorated portion of the Recreational Facility Fee shall be paid by Tenant to the Owner Associations unless Tenant continues to provide access to the Leased Premises to Club Members in a manner substantially similar as under the Use Agreement for a period from the closing of the Option through the date which coincides with the last day of the fifth (5th) year of the Lease Term had the Option not been exercised. The amount to be paid by Tenant to the Owner Associations shall be the total Recreational Facilities Fee reduced by Four Hundred Thousand Dollars ($400,000.00) for every year during the first five (5) years of the Term of the Use Agreement prior to termination, prorated for any partial year. This Section 28 shall survive termination of the Lease and closing of the Option. In the event of any conflict or inconsistency between the foregoing and the terms of the Use Agreement, the terms of the Use Agreement shall govern and control.
Sample 1
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Related to Club Members

  • Club Membership During the Term, the Company shall pay on behalf of the Executive, or reimburse the Executive for, annual membership fees payable in connection with the Executive’s membership in one country club of the Executive’s choice.

  • Club Memberships The Corporation shall provide payment of annual dues and monthly business development expenses for the Executive in connection with a club membership in the market area. Any other contributions (assessments) associated with the club membership are the sole responsibility of the Executive and are to be paid by the Executive.

  • Country Club Membership Employer agrees to reimburse Executive for reasonable country club membership dues, in accordance with Employer’s policy.

  • Other Members The Holding Company may offer the Offer Shares, if any, remaining after the Subscription Offering, in the Community Offering on a priority basis to natural persons and trusts of natural persons residing within the Florida counties of Clay, Duval, Flagler, Nassau and St. Xxxxx and the Georgia counties of Chatham, Coffee and Xxxx, then to the Mid-Tier Holding Company’s public stockholders at the Voting Record Date, and then to the general public. If a Community Offering is held, it may be held at any time during or immediately after the Subscription Offering. In the Community Offering, the Holding Company will pay a fee to any Financial Regulatory Industry Authority (“FINRA”) member firm (including Stifel) whose representatives assist persons in the Community Offering and whose name is entered on the stock order form accepted by the Holding Company (the “Assisting Brokers”). It is acknowledged that the number of Offer Shares to be sold in the Offering may be increased or decreased as described in the Prospectus (as hereinafter defined); that the purchase of the Offer Shares in the Offering are subject to maximum and minimum purchase limitations as described in the Plan and the Prospectus; and that the Holding Company may reject, in whole or in part, any subscription received in the Community Offering. The Holding Company has filed with the U.S. Securities and Exchange Commission (the “Commission”) a Registration Statement on Form S-1 (File No. 333-167632) in order to register the Shares under the Securities Act of 1933, as amended (the “1933 Act”), and the regulations promulgated thereunder (the “1933 Act Regulations”), and has filed such amendments thereto as have been required to the date hereof (the “Registration Statement”). The prospectus, as amended, included in the Registration Statement at the time it initially became effective is hereinafter called the “Prospectus,” except that if any prospectus is filed by the Holding Company pursuant to Rule 424(b) or (c) of the 1933 Act Regulations differing from the prospectus included in the Registration Statement at the time it initially becomes effective, the term “Prospectus” shall refer to the prospectus filed pursuant to Rule 424(b) or (c) from and after the time said prospectus is filed with the Commission and shall include any supplements and amendments thereto from and after their dates of effectiveness or use, respectively. In connection with the Conversion, the MHC filed with the OTS an application for conversion to a stock company (together with any other required ancillary applications and/or notices and all amendments or supplements thereto, the “Conversion Application”) as required by the OTS in accordance with the Home Owners’ Loan Act, as amended (the “HOLA”), and 12 C.F.R. Parts 575 and 563b. The Holding Company also has filed with the OTS its application on Form H-(e)1-S (together with other required ancillary applications and/or notices and all amendments or supplements thereto, the “Holding Company Application”) to become a unitary savings and loan holding company under the Conversion Regulations. Collectively, the Conversion Application and the Holding Company Application may also be termed the “Applications.” Concurrently with the execution of this Agreement, the Holding Company is delivering to the Agent copies of the Prospectus dated November 12, 2010 to be used in the Offering.

  • Substitute Members No transferee of all or part of a Member's Membership Interest shall become a substitute Member in place of the transferor unless and until:

  • Club Dues The Company shall pay or reimburse the Executive for the monthly membership dues actually incurred by the Executive for one fitness or country club membership maintained by the Executive; provided that the payable or reimbursable amount shall not exceed $700 per month or such additional amount as may be subsequently approved by the Board or a committee thereof. For the avoidance of doubt, except as specifically provided for above, the Company shall not pay or reimburse the Executive for any other expenses associated with such club membership (including, but not limited to, any initiation fees and personal expenditures at such club).

  • Members (a) A Person shall be admitted as a Member and shall become bound by, and shall be deemed to have agreed to be bound by, the terms of this Agreement if such Person purchases or otherwise lawfully acquires any Share, and such Person shall become the Record Holder of such Share, in accordance with the provisions of this Agreement. A Member may be a Class A Member, a Class B Member and or Class C Member, and, in such case, shall have the rights and obligation accorded to the Class A Ordinary Shares with respect to such Class A Ordinary Shares or the rights and obligation accorded to the Class A Preferred Shares with respect to such Class A Preferred Shares, as applicable, the rights and obligations accorded to the Class B Ordinary Shares with respect to such Class B Ordinary Shares and the rights and obligations accorded to the Class C Ordinary Share with respect to such Class C Ordinary Share. A Person may become a Record Holder without the consent or approval of any of the Members and without physical execution of this Agreement. A Person may not become a Member without acquiring a Share.

  • Members Capital Contributions (a) Initial Capital Contribution. The initial Capital Contribution described on Schedule 1 (the “Property”) was made by the previous Member.

  • Membership Dues Association membership dues, as explicitly approved by the Trustees;

  • Right to Acquire Limited Partner Interests (a) Notwithstanding any other provision of this Agreement, if at any time the General Partner and its Affiliates hold more than 80% of the total Limited Partner Interests of any class then Outstanding, the General Partner shall then have the right, which right it may assign and transfer in whole or in part to the Partnership or any Affiliate of the General Partner, exercisable in its sole discretion, to purchase all, but not less than all, of such Limited Partner Interests of such class then Outstanding held by Persons other than the General Partner and its Affiliates, at the greater of (x) the Current Market Price as of the date three days prior to the date that the notice described in Section 15.1(b) is mailed and (y) the highest price paid by the General Partner or any of its Affiliates for any such Limited Partner Interest of such class purchased during the 90-day period preceding the date that the notice described in Section 15.1(b) is mailed.

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