Time Share Clause Samples
A Time Share clause establishes the terms under which multiple parties share the use or occupancy of a property or asset for specified periods. Typically, it outlines how time slots are allocated among participants, the scheduling process, and any rules regarding usage, maintenance, or transfer of rights. This clause ensures that each party's access is clearly defined, preventing disputes over usage and providing a structured framework for shared ownership or use.
Time Share. Lessee shall pay Time Share Lessor for each flight conducted under this Agreement (as determined in accordance with Section 6.2 of this Agreement) an amount equal to Time Share Lessor’s aggregate incremental costs for such flight, calculated on the same basis used by Time Share Lessor from time to time to determine the aggregate incremental cost of personal aircraft use for purposes of disclosure in Time Share Lessor’s proxy statement issued in connection with its annual meeting of shareholders (the “Proxy Calculation”); provided, however, that in no event shall Time Share Lessee pay to Time Share Lessor an amount in excess of the maximum amount of expense reimbursement permitted in accordance with Section 91.501(d) of the FAR, which expenses include and are limited to:
6.1.1 fuel, oil, lubricants, and other additives;
6.1.2 travel expenses of the crew, including food, lodging and ground transportation;
6.1.3 hangar and tie down costs away from the Aircraft’s Operating Base;
6.1.4 insurance obtained for the specific flight;
6.1.5 landing fees, airport taxes and similar assessments;
6.1.6 customs, foreign permit, and similar fees directly related to the flight;
6.1.7 in-flight food and beverages;
6.1.8 passenger ground transportation;
6.1.9 flight planning and weather contract services; and
6.1.10 an additional charge equal to 100% of the expenses listed in Section 6.1.1.
Time Share. Lessor shall have the right to terminate this Agreement at any time in accordance with Section 16 upon any breach by Time Share Lessee under said Section 16.
Time Share. Lessor shall notify Time Share Lessee as to whether the requested use of the Aircraft can be accommodated and, if not, the Parties shall discuss alternatives.
Time Share. Employees may donate time to each other at their own discretion
Time Share. Owner and Manager agree that Manager shall have no obligation to allow Owner or any third party to utilize any portion of the Site or the Hotel for any marketing and/or sales activities relating to the sale of interests in a time-share facility or facilities developed and/or marketed and sold by Owner or any such third party. Owner and Manager further agree that Manager may permit an Affiliate of Manager to utilize a portion of the Site or Hotel to install a desk or kiosk to market and/or sell interests in a time-share facility or facilities developed and/or marketed and sold by such Affiliate, provided the economic terms of such arrangement satisfy the Competitive Terms Standard, and the location of the desk or kiosk at the Hotel shall be subject to Owner’s approval. If Manager wants to permit an Affiliate of Manager to utilize a portion of the Site or Hotel that includes more than the installation of a desk or kiosk in the Hotel to market and/or sell interests in a time-share facility or facilities developed and/or marketed and sold by such Affiliate, the economic terms of such arrangement and the location of the facility at the Hotel shall be subject to Owner’s approval. For purposes of this Section 1.17, the term “time-share facility” shall be broadly construed to include any facility recognized by law or otherwise as a time-share facility or one wherein purchasers acquire an ownership interest and/or use rights in a facility on a periodic basis and pay for such ownership and/or use in advance.
Time Share. Lessee will use the various Aircraft solely for his own use and the use of his family and guests, and Time Share Lessee will not use any Aircraft for the purpose of providing transportation of passengers or cargo for compensation or hire.