Floating Week definition

Floating Week is defined in Section 2.05(c);
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Floating Week means each Owner shall also have the right to reserve on a priority basis and then use that Owner’s Assigned Cottage for another four (4) weeks of the calendar year. Floating Weeks consist of a Winter Week, a Spring Week, a Fall Week and one (1) Additional Week. That Use Period will be that Owner’s “Assigned Floating Use Period”. The additional week period will consist of the two (2)-week public school Christmas break in the City of Toronto, the one (1)-week spring public school break in the City of Toronto, the seven
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Floating Week means each Owner shall also have the right to reserve on a priority basis and then use that Owner’s Assigned Cottage
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Examples of Floating Week in a sentence

  • Should the Cottage 4 Fixed Summer Week 1 Owner forfeit this right in any particular year, their choice for a Spring Floating Week will then be made according to their interval and position on the Interval Rotational Chart for Cottage 4.

  • But without an Owner’s consent, his/her ownership share, Fixed or Floating Week rights, cannot be changed.

  • Each Owner will forthwith notify the Property Manager if that Owner determines or discovers at any time that the Owner will not use the Owner's Fixed Week or any Floating Week on any of the dates assigned to that Owner.

  • A Fixed Week and each Floating Week is a seven (7) day period starting on a Friday.

  • A Fixed Week and each Floating Week is a seven (7) day period starting on a Friday subject to 2.02 herein above.

  • The sum of the fractional interests in a Unit, assuming a value of 1/52nd for Annual Time-Shares, Annual Time-Share Licenses and Floating Week Annual Time- Shares and a value of 1/104th for Biennial Time-Shares, Biennial Time-Share Licenses and a Floating Week Biennial Time-Share, can never equal or exceed one (1).

  • Each Floating Week Time-Share that is an Annual Time-Share or Biennial Time-Share shall have a one-fifty second (1/52nd) or one one-hundred and fourth (1/104th) co-tenancy interest in a Unit but the right to occupy shall be limited to Unit Weeks 1 through 12 and 46 through 52 after received a Confirmation.

  • The Association’s financial statements must be sent to each Owner at least ten (10) days before the annual meeting of the Association… (to be compliant with ONCA permitted timelines…) Appendix A to Exhibit “C” - Inaski Shores - Floating Week Reservation Priority.

  • Section 3.2 as set forth in paragraph 1 on page 3 of the Third Amendment to the Instrument is hereby deleted and the following substituted in its place Floating Week Time-Shares.

  • Spring Floating Week will then be made according to their interval and position on the Interval Rotational Chart for Cottage 4.


More Definitions of Floating Week

Floating Week means a Unit Week that is not designated as to a particular Unit within a Unit Type or as to a particular week of the Use Week Calendar during a Season. The specific Unit and Use Period will be assigned pursuant to the reservation procedures specified in the Rules and Regulations.
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Floating Week means each Owner shall also have the right to reserve on a priority basis and then use that Owner’s Assigned Cottage for another four (4) weeks of the calendar year. Floating Weeks consist of a Winter Week, a Spring Week, a Fall Week and one (1) Additional Week. That Use Period will be that Owner’s “Assigned Floating Use Period”. The additional week period will consist of the two (2)-week public school Christmas break in the City of Toronto, the one (1)-week spring public school break in the City of Toronto, the seven (7) off-season weeks and one (1) maintenance week (leaving ten (10) available use weeks). Choice of Floating Weeks will be determined annually for Owners by referencing the Inaski Shores Interval Rotational Chart. Owner placement on this chart is determined at the time of purchase.
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Floating Week means each Owner shall also have the right to reserve on a priority basis and then use that Owner’s Assigned Cottage for another four (4) weeks of the calendar year. Floating Weeks consist of a Winter Week, a Spring Week, a Fall Week and one (1) Additional Week. That Use Period will be that Owner’s “Assigned Floating Use Period”. The additional week period will consist of the two (2)-week public school Christmas break in the City of Toronto, the one (1)- week spring public school break in the City of Toronto, the seven (7) off-season weeks and one (1) maintenance week (leaving ten (10) available use weeks). Floating Weeks begin and end on Fridays and at the check-in /check-out times specified in an Owner’s Purchase Contract. Floating Weeks must be reserved each calendar year prior to the Thanksgiving weekend for the next calendar year or upon availability. Choice of Floating Weeks will be determined annually for Owners by referencing the Inaski Shores Interval Rotational Chart. Owner placement on this chart is determined at the time of purchase.
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Floating Week is defined in Section 2.05(c); “Improvement” is defined in Section 3.07; “Infringing Owner” is defined in Section 5.04; “Injured Person” means every Owner, Exchange User or Occupant who cannot use a Cottage because of an Act of Trespass or Vandalism. There can be several Injured Persons. For example, a Cottage may be damaged so that it cannot be used for later Use Periods. Each person who had the right to use the Cottage during later Use Periods would be an Injured Person; “Interval Identification Number” is defined in Section 2.01; “Interval No.” means the number of the Interval from 1 to 10 created in each Cottage which sets the order by which Floating Weeks may be reserved; “Interval Ownership” or simply an “Interval” are inter-changeable terms and mean: (i) membership in the Association ; plus (ii) the right to reserve on a priority basis and then use for five (5) separate one (1) week periods: (A) a specific Cottage and that Cottage only every calendar year; (B) one (1) Fixed Week during the prime summer period every calendar year; and (C) four (4) Floating Weeks every calendar year, one (1) in the Spring Season, one (1) in the Fall Season, one (1) in the Winter Season and one (1) Additional Week; plus (iii) the obligation to pay one (1) Share of the Association Expenses. These three (3) parts of an Interval are indivisible; “Major Service Period” is defined in Section 2.02; “Minor Service Period” is defined in Section 2.02; “New Owner” is defined in Section 3.01; “Occupant” means each Owner, Exchange User, Renter and Visitor when they are on any part of the Property. It also includes the Visitor of an Occupant who is not an Owner or Exchange User; “One Share” is defined in Section 6.02(b); “Owner” means a person who from time to time is an Owner of an Interval (and a member of the Association ) who has become a party to this Agreement, either by being an original party, or by being a New Owner pursuant to the Transfer Agreement attached as Exhibit "B"; “Owner’s Purchase Contract” means the Agreement of Purchase and Sale whereby and Owner acquired that Owner’s Interval(s) from the Association ; “Partial Destruction of Cottages” is defined in Section 10.01; “Partial Destruction Not Affecting the Cottages” is defined in Section 10.01; “Partial Taking” is defined in Section 10.01; “Partial Taking Not Affecting the Cottages” is defined in Section 10.01; “Personal Charges” is defined in Section 6.02(e); “Proceeds” is defined in Section 6.18; “Project” mean...
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Related to Floating Week

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Quarterly Floating Rate Period means, for the initial Quarterly Floating Rate Period, the period commencing on April 1, 2022 and ending on and including June 30, 2022, and thereafter the period from and including the day immediately following the end of the immediately preceding Quarterly Floating Rate Period to but excluding the next succeeding Quarterly Commencement Date.

  • Floating Interest Rate means: (a) initially Three-Month Term SOFR (as defined below). (b) Notwithstanding the foregoing clause (i) of this Section 2(b): (i) If the Calculation Agent, determines prior to the relevant Floating Interest Determination Date that a Benchmark Transition Event and its related Benchmark Replacement Date (each of such terms as defined below) have occurred with respect to Three-Month Term SOFR, then the Company shall promptly provide notice of such determination to the Holders and Section 2(c) (Effect of Benchmark Transition Event) will thereafter apply to all determinations, calculations and quotations made or obtained for the purposes of calculating the Floating Interest Rate payable on the Subordinated Notes during a relevant Floating Interest Period. (ii) However, if the Calculation Agent, determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Three-Month Term SOFR, but for any reason the Benchmark Replacement has not been determined as of the relevant Floating Interest Determination Date, the Floating Interest Rate for the applicable Floating Interest Period will be equal to the Floating Interest Rate on the last Floating Interest Determination Date for the Subordinated Notes, as determined by the Calculation Agent (as defined below). (iii) If the then-current Benchmark is Three-Month Term SOFR and any of the foregoing provisions concerning the calculation of the interest rate and the payment of interest during the Floating Interest Period are inconsistent with any of the Three-Month Term SOFR Conventions determined by the Company, then the relevant Three-Month Term SOFR Conventions will apply.

  • Floating Rate means, for any day, a rate per annum equal to (i) the Alternate Base Rate for such day plus (ii) the Applicable Margin, in each case changing when and as the Alternate Base Rate changes.