Points Based Resort definition
Points Based Resort means one or more Resorts in a Collection at which holders of Points-Based Property are entitled to reserve the use and occupancy of Units.
Points Based Resort means the Resorts identified on Schedule 3.26(b) as “Points Based Resorts” and any other Resort that is designated after the Closing Date, by means of a certificate delivered to the Administrative Agent by a Financial Officer of Holdings, as a Resort at which holders of Points Based Time Share Interests are entitled to reserve the use and occupancy of residential accommodations.
Examples of Points Based Resort in a sentence
This paragraph shall not apply to transfers of all or any portion of a Mortgaged Property to the trustee or club entity for a Points Based Resort.