Eligible Resort definition

Eligible Resort or “Eligible Resorts”). Individually and collectively, as applicable, each or all of the interval ownership and time-share projects consisting of: (i) (A) H▇▇▇▇ Lake Ranch, H▇▇▇▇▇▇, Texas; (B) Piney Shores Resort, Conroe, Texas; (C) Lake O' The Woods, Flint, Texas; (D) Hill Country Resort, Canyon Lake, Texas; (E) Ozark Mountain Resort, K▇▇▇▇▇▇▇▇▇ City, Missouri; (F) Holiday Hills Resort, Branson, Missouri; (G) Fox River Resort, LaSalle County, Illinois; (H) Timber Creek Resort, Jefferson County, Missouri (I) Oak N' Spruce Resort, South L▇▇, Massachusetts; (J) Apple Mountain Resort, Habersham County, Georgia; (K) The Villages, Flint, Texas and (L) Silverleaf's Seaside Resort, Galveston County, Texas; (M) Orlando Breeze Resort, D▇▇▇▇▇▇▇▇, P▇▇▇ County, Florida (also sometimes individually and collectively referred to herein as the “Existing Resorts”) and (ii) subject to Agent's prior written approval and satisfaction by the Borrower of the conditions precedent set forth in Sections 3.5 and 4.4 hereof, the Additional Eligible Resorts. The term “Resort” or “Resorts” includes, among other things, the undivided annual or (biennial) timeshare ownership interests (Intervals) in the respective Resorts, and the appurtenant exclusive rights to use Units in one or more buildings or phases and all appurtenant or related properties, amenities, facilities, equipment, appliances, fixtures, easements, licenses, rights and interests, including without limitation, the Common Elements, as established by and more fully defined and described in the respective Declarations, and the other Timeshare Documents.
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Eligible Resort. Any Resort satisfying the following conditions and consented to by TFC:
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Examples of Eligible Resort in a sentence

  • Any Advances hereunder with respect to any Additional Eligible Resort will be subject to all terms and conditions of this Agreement and the other Loan Documents.

  • The Resort at which the Interval in question is located shall cease to be an Additional Eligible Resort, unless and until Borrower shall cure any such claim, lien, encumbrance, charge or other matter to the satisfaction of Agent.

  • As provided in Section 3.5 hereof, Borrower may propose to Agent that Agent approve one or more additional timeshare plans for inclusion hereunder as an Additional Eligible Resort in respect of which Advances may be made.

  • Lender agrees that Borrower may, from time to time during the Term hereof, replace any Interval or Intervals by granting to Lender a first mortgage Lien on a new Interval or Intervals owned by the Borrower at an Eligible Resort.

  • Borrower shall deliver to Agent for the benefit of Agent and each Lender, at Borrower’s sole cost and expense, such opinions of counsel, including counsel admitted in each state in which each Additional Eligible Resort is located, as to such matters with respect to Borrower and each Additional Eligible Resort as Agent may request, and in form and substance acceptable to Agent in its sole discretion.

  • The Servicer and each Eligible Resort which is managed by the Club Managing Entity maintain such insurance coverage as may be required by any applicable Requirements of Law or pursuant to the Declarations for such Eligible Resort.

  • Each Seller and each Time Share Association managed by the Club Managing Entity with respect to each Eligible Resort maintain such insurance coverage as may be required by any applicable Requirement of Law or pursuant to the Declarations for such Eligible Resort.

  • All actions taken by Bluegreen in respect of any Defaulted Receivable shall, at all times, be carried out in a manner such that none of the Trust, the Facility Administrator, the Owner Trustee or the Indenture Trustee shall, under Requirements of Law, be deemed to be the developer or declarant of any Eligible Resort or the Club.

  • Borrower shall deliver to Agent, for the benefit of Agent and each Lender, at Borrower's sole cost and expense, such opinions of counsel, including counsel admitted in each state in which each Additional Eligible Resort is located, as to such matters with respect to Borrower and each Additional Eligible Resort as Agent may request, and in form and substance acceptable to Agent in its sole discretion.

  • With respect to any Eligible Resort, the Purchase Documents, any and all documents evidencing or relating to the sale of Intervals, the Declaration, the articles of incorporation and bylaws of the Time Share Association, any management agreement between the Time Share Association and a manager of the Eligible Resort, and any rules and regulations of the Time Share Association.

Related to Eligible Resort

  • Eligible resident means an individual or family who resided in a disaster-affected home at the time of the natural disasters of 2008 and who:

  • Eligible Recipient means an employee, director or independent contractor of the Company or any Affiliate of the Company who has been selected as an eligible participant by the Administrator; provided, however, to the extent required to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, an Eligible Recipient of an Option or a Stock Appreciation Right means an employee, non-employee director or independent contractor of the Company or any Affiliate of the Company with respect to whom the Company is an “eligible issuer of service recipient stock” within the meaning of Section 409A of the Code.

  • Eligible Real Estate means Real Estate:

  • Eligible Recipients means all Employees, all Non-Employee Directors and all Consultants.

  • Eligible Users means those authorized to use State Cooperative Contracts and includes the State of Utah’s government departments, institutions, agencies, political subdivisions (e.g., colleges, school districts, counties, cities, etc.), and, as applicable, nonprofit organizations, agencies of the federal government, or any other entity authorized by the laws of the State of Utah to participate in State Cooperative Contracts.