Timeshare Declaration Clause Samples
A Timeshare Declaration is a legal document that establishes the framework and rules for the ownership and use of a timeshare property. It typically outlines the rights and obligations of timeshare owners, the allocation of usage periods, and the management of common areas and shared expenses. For example, it may specify how maintenance fees are assessed or how reservations for specific time slots are handled. The core function of a Timeshare Declaration is to provide a clear, enforceable structure for shared property use, thereby preventing disputes and ensuring all owners understand their rights and responsibilities.
Timeshare Declaration. Lender acknowledges that at the time of the execution of this Agreement, no Timeshare Declaration has been recorded against the Land and all references to a Timeshare Declaration that are contained in this Agreement and the other Acquisition Loan Documents are presently of no force or effect, given the absence of a Timeshare Declaration. However, in the event Borrower subsequently prepares a Timeshare Declaration for recording against the Land, such references shall then become applicable to such Timeshare Declaration. Borrower agrees to give Lender prompt written notice at such time as Borrower intends to record a Timeshare Declaration against the Land and promptly furnish Lender with a copy of the unrecorded Timeshare Declaration for Lender’s review and approval before the same is recorded against the Land and upon Lender’s reasonable approval of such Timeshare Declaration and related documents, Lender shall execute a consent to such Timeshare Declaration for recording in the public records. Furthermore, at such time as the Timeshare Declaration is recorded, BVU agrees to collaterally assign its declarant’s rights to Lender as further security for the payment and performance of the Obligations, pursuant to the Collateral Assignment of Declarant’s Rights, in a form reasonably acceptable to Lender and Borrower, which assignment will be recorded in in the Official Public Records of Bexar County, Texas.
Timeshare Declaration. On or before the first sale and closing of a Timeshare Interest by Borrower in Phase 2, all Units, all improvements thereon, all equipment, furnishings and appliances intended for use in connection therewith pertaining to such Timeshare Interest will have been and thereafter will continue to be duly submitted to the provisions of the Timeshare Declaration, as amended to include Phase 2 as part of the timeshare regime, which Timeshare Declaration and any amendment will have been recorded in the Public Records of St. Johns County,
Timeshare Declaration. The declaration of condominium pursuant to which the Timeshare Project is encumbered and the property regime thereat is created as it may be lawfully amended and/or supplemented from time to time in accordance with its terms.
Timeshare Declaration. That certain Declaration of Covenants and Restrictions of Interval Ownership dated December 30, 1996, and recorded on December 30, 1996, in the Newport Land Evidence Records in Book 749, at Page 369, together with any amendments, supplements, or restatements thereof, including but not limited to any Supplemental Declaration, as such term is defined in the Timeshare Declaration.
Timeshare Declaration a timeshare declaration to be recorded against the Property following the Effective Date, converting the Hotel to a timeshare regime, as such declaration is amended from time to time.
Timeshare Declaration. With respect to the Borrower Project, that certain Declaration of Fractional Vacation Ownership Plan for Dunes Village Resort executed by Borrower and recorded on January 15, 2009 in Deed Book 3382 at Page 1465 and re-recorded on January 21, 2009 in Deed Book 3383 at Page 203 in the Public Records of Horry County, South Carolina, as such document may be amended, modified or restated from time to time.