Definition of Points Based Resort

  1. Points Based Resort means the Resorts identified on Schedule IV as "Points Based Resorts" and any other Resort that is designated after the Closing Date, by means of a certificate delivered to the Collateral Agent by a Responsible Officer of Holdings or the Borrower, 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

  1. Holdings and the Borrower agree to supplement Schedule IV for any newly created or acquired "Points Based Resort" within 10 business days of such creation or acquisition by delivering to the Collateral Agent a certificate executed by a Responsible Officer of Holdings or the Borrower that designates such Resort as a Resort at which holders of Points Based Time Share Interests are entitled to reserve the use and occupancy of residential accommodations.

Definition of Points Based Resort in Security Agreement

Points Based Resort means the Resorts identified on Schedule IV as "Points Based Resorts" and any other Resort that is designated after the Closing Date, by means of a certificate delivered to the Collateral Agent by a Responsible Officer of Holdings or the Borrower, as a Resort at which holders of Points Based Time Share Interests are entitled to reserve the use and occupancy of residential accommodations.