RENTAL POOL. Starwood desires to acquire the benefits and burdens of certain Property that Starwood desires and intends to convert to or hold for rental property purposes. Notwithstanding anything herein to the contrary, Starwood shall have the exclusive right, exercisable in its sole and absolute discretion at or before the closing of the Partnership’s purchase of a pool of Loans and REO, to designate any of the REO and Loans being purchased by the Partnership as property that shall be converted to or held for rental property purposes (all such designated Loans and REO, collectively, the “Rental Pool”, and individually, a “Rental Pool Asset”), provided Starwood delivers written notice to the other Partners of each such designation at or before such closing. In connection with the closing of the Initial Acquisition, the initial Rental Pool and list of designated Rental Pool Assets (with the BPO for each such asset) is set forth on Exhibit E attached hereto and made a part hereof. Each designation of a Loan or REO as a Rental Pool Asset shall be irrevocable and may not thereafter be changed by Starwood. Except with respect to Excluded Rental Pool Cash, the Partners agree that with respect to any Rental Pool Asset: JVP and the General Partner will not participate in the profits or losses of such Rental Pool Asset; all of the profits or losses from such Rental Pool Asset will be allocated to Starwood only; all of the economic benefits and all direct and or allocable share of all indirect costs attributable to such Rental Pool Asset will be for Starwood’s account (including all Rental Pool Expenditures); and all capital requirements for such Rental Pool Asset must be provided by Starwood. Except with respect to Excluded Rental Pool Cash, the Partners further agree that: the capital requirements and profits and losses attributable to the Rental Pool will not be taken into account in determining the profits or losses and Distributions to be allocated or paid to JVP; and Starwood will be solely responsible for the management of the Rental Pool. To carry out the Partners’ intent with respect to this subject, the following provisions apply with respect to the Rental Pool:
RENTAL POOL. The client hereby agrees to make the UNIT available to the COMPANY for the purposes of letting the UNIT to GUESTS as part of the RENTAL POOL under the supervision and management of the COMPANY subject to the terms and conditions contained herein for each UNIT OF TIME allocated to the client.
RENTAL POOL. The Unit Owner hereby agrees to make the Unit available to Metsi Pepa Game Reserve Managers for purposes of letting to Guests as part of a rental pool and upon the further terms and conditions of this Agreement.
RENTAL POOL. The Operating Company shall design, establish and operate a rental pool scheme on such terms and conditions as it may deem fit in its sole discretion, subject however to the provisions of this Agreement. The following shall apply to the said rental pool scheme:
RENTAL POOL. 34.1 The Allottee understands and agrees that the Apartment shall be under the Rental Pool arrangement (“Rental Pool”) and shall be managed by the HMC (on its own or through an Operator) in accordance with the terms and conditions set out in the rental pool agreement (“Rental Pool Agreement”), the indicative draft copy whereof is annexed to this Agreement as Schedule ‘F’. The terms and conditions in the draft Rental Pool Agreement are merely indicative and the Promoter reserves the right to make suitable amendments therein, as may be deemed necessary by it in its sole discretion and the Allottee accepts the same and hereby gives its consent thereto. The Allottee hereby agrees and undertakes to comply with the terms and conditions set out in the Rental Pool Agreement. The Allottee further understands and agrees that the Initial Working Capital Deposit shall be refunded to the Allottee by the Promoter or the Operator of the Rental Pool, only when sufficient working capital reserve has been created from the gross revenue generated by the operations of the Hotel Business.
RENTAL POOL. 13.1. If the holder does not want to make use of his time-sharing interest, and wishes the managing agent to attempt to lease the same, (and in the case of MTSSB, should the member not comply with the provisions of clause 17.2) he shall notify the company to attempt to lease the same, provided that:
RENTAL POOL. Upon date of registration of transfer of the property into the name of the PURCHASER, at the option of the PURCHASER he/she/it may elect to enter into an agreement with the SELLER, in terms of which the PURCHASER will be entitled to include the PROPERTY in the rental pool with ROYAL VICTORIA HOLIDAY RESORT, on such standard terms and conditions as contained in the Rental Pool Agreement.
RENTAL POOL. 3.1 Subject to the Owner's right of use set out in clause 5 below, the Management Company shall, subject to the terms of this agreement, be entitled to utilise the Owner’s Periodical Property Right in the Holiday Unit during the currency of this agreement in order to rent it out.
RENTAL POOL. 20.1 It is recorded that the Seller intends to build a hotel which will form part of the same sectional title scheme in which the Property falls. When the hotel shall have been erected the Purchaser shall be entitled, if satisfied with the terms and conditions on which the Seller intends to conduct a rental pool, to enter into a Rental Pool Agreement with a Rental Pool Operator nominated by the Seller and on terms and conditions to be negotiated at that time.
RENTAL POOL
