Common use of Put Procedures Clause in Contracts

Put Procedures. In order to exercise the Put (described in Section 2), a Holder must: (a) give Charthouse written notice of their intent to exercise the Put at least 30 days prior to the beginning of the Unit Week desired to be Put; (b) Put the entire Unit Week to Charthouse; (c) exercise the Put within 5 years after the Effective Date; (d) be current with all license payments (if paying by installment), annual dues and special assessment, if any, for the Interest, and such amount is to be consideration of the Charthouse rental pool fee of 5%. Provided that, notwithstanding the foregoing, Charthouse may reject the Put if it has received 5 requests for the requested Unit Week (Charthouse will accept requests in the order of receipt). Furthermore, this guarantee is conditioned upon there being no action threatened, pending or taken, which makes the Charthouse rental pool or the Guaranteed Rental Arrangement illegal, or otherwise restricts or prohibits the ability of Charthouse to use the Unit Week.

Put Procedures. In order to exercise the Put (described in Section 2), a Holder holder must: (a) give Charthouse written notice of their intent to exercise the Put at least 30 days prior to the beginning of the Unit Week unit week desired to be Put; (b) Put the entire Unit Week unit week to Charthouse; (c) exercise the Put within 5 years after the Effective Date; (d) be current with all license payments (if paying by installment), annual dues dues, and special assessment, if any, for the Interest, and such amount is to be consideration of the Charthouse rental pool fee of 5%. Provided that, notwithstanding the foregoing, Charthouse may reject the Put if it has received 5 requests for the requested Unit Week unit week (Charthouse will accept requests in the order of receipt). Furthermore, this guarantee is conditioned upon there being no action threatened, pending or taken, which makes the Charthouse rental pool Rental Pool or the Guaranteed Rental Arrangement illegal, or otherwise restricts or prohibits the ability of Charthouse to use the Unit Weekunit week.