0000950123-08-002361 Sample Contracts

PERFORMANCE GUARANTY (Series 2007-1)
Performance Guaranty • February 29th, 2008 • Wyndham Worldwide Corp • Hotels & motels • New York

PERFORMANCE GUARANTY (this “Guaranty”) dated as of May 23, 2007 is made by Wyndham Worldwide Corporation, a Delaware corporation (“Wyndham Worldwide”) in favor of Sierra Timeshare 2007-1 Receivables Funding, LLC, a Delaware limited liability company (the “Issuer”), Sierra Deposit Company, LLC, a Delaware limited liability company (the “Depositor”), and U.S. Bank National Association, as trustee, (the “Trustee”) and as collateral agent (the “Collateral Agent”) under the Indenture and Servicing Agreement referenced below for the benefit of holders of Notes issued pursuant to such Indenture and Servicing Agreement and the Insurer referred to in such Indenture and Servicing Agreement.

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TERMINATION AGREEMENT
Termination Agreement • February 29th, 2008 • Wyndham Worldwide Corp • Hotels & motels • New Jersey

THIS TERMINATION AGREEMENT (“Agreement”), dated as of November 2, 2007 is made by and between WYNDHAM WORLDWIDE CORPORATION, a Delaware corporation (the “Company”), and Kenneth N. May (the “Executive”).

WYNDHAM WORLDWIDE CORPORATION 2006 EQUITY AND INCENTIVE PLAN AWARD AGREEMENT — RESTRICTED STOCK UNITS
Award Agreement • February 29th, 2008 • Wyndham Worldwide Corp • Hotels & motels • Delaware

Subject to the terms and conditions of the Wyndham Worldwide Corporation 2006 Equity and Incentive Plan, you have been awarded Restricted Stock Units. The vesting referenced above is subject to you remaining continuously employed with Wyndham Worldwide Corporation through each respective vesting date (see grant agreement).

WYNDHAM WORLDWIDE CORPORATION 2006 EQUITY AND INCENTIVE PLAN FORM OF AWARD AGREEMENT — STOCK APPRECIATION RIGHTS
Form of Award Agreement • February 29th, 2008 • Wyndham Worldwide Corp • Hotels & motels • Delaware

Award Agreement (this “Agreement”), dated as of xx/xx/xxxx, by and between Wyndham Worldwide Corporation, a Delaware corporation (the “Company”), and the grantee indicated on Exhibit A attached hereto (the “Grantee”), pursuant to the terms and conditions of the Wyndham Worldwide Corporation 2006 Equity and Incentive Plan (the “Plan”).

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