Timeshare Business definition

Timeshare Business has the meaning assigned to such term in the Distribution Agreement.

Timeshare Business means the Vacation Ownership Business but specifically excluding the Fractional Business.

Timeshare Business means (i) the acquisition, development, operation, management and sale of Vacation Resorts, including, without limitation, VOIs and (ii) providing customers who purchase VOIs at Vacation Resorts financing for such purposes (collectively, together with any and all business that in the good faith judgment of the board of directors of the Corporation or Starwood Vacation are materially related to the foregoing).

Examples of Timeshare Business in a sentence

• To the extent not previously provided, PK and HGV shall (at their own cost and expense), to the extent that a Pre-Distribution Income Tax Return or HLT Straddle Income Tax Return includes items of that Party or its Affiliates, the Ownership Business (in the case of PK), or the Timeshare Business (in the case of HGV), prepare and provide or cause to be prepared and provided to HLT a Tax Package relating to such Tax Return.

• In making the allocation provided for in this Section 2(a), and subject to clause (ii) below, the Parties shall allocate each Employee whose employment duties prior to the Distribution Date relate exclusively to the Ownership Business to a member of the PK Group and the Timeshare Business to a member of the HGV Group.

• An Employee who is (1) allocated to the Timeshare Business and (2) employed by a member of the HGV Group as of the Distribution Date is an “HGV Employee”.

• The Parties shall take all steps necessary or appropriate so that all of the Employees of HLT and its Subsidiaries as of the Cut-Off Date are allocated among the HLT Retained Business, the Ownership Business and the Timeshare Business as of the Distribution Date in accordance with the principles set forth in this Section 2(a).

• Each of HLT, PK or HGV shall be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with Privileged Information which relates solely to the HLT Retained Business, Ownership Business or Timeshare Business, as applicable, whether or not the Privileged Information is in the possession of or under the control of HLT, PK or HGV, as applicable, or the other Parties (or their respective Affiliates).

More Definitions of Timeshare Business

Timeshare Business means the businesses conducted through the ownership, development, redevelopment and management of, the sale and financing of interests in, and the servicing of receivables with respect to timeshare properties by HLT or any other member of the HLT Group prior to the Effective Time, including, for the avoidance of doubt, the businesses of (i) the ownership, development, redevelopment and management of, the sale and financing of interests in, and the servicing of receivables with respect to the timeshare properties set forth on Schedule 1.1(107) hereto, (ii) any other division, Subsidiary, line of business or investment of HLT or any other member of the HLT Group managed or operated prior to the Effective Time by any Timeshare Entity, unless such other division, Subsidiary, line of business or investment is an Ownership Entity, an Ownership Asset, a HLT Retained Entity or a HLT Retained Asset and (iii) those business entities acquired or established by or for HGV or any other member of the HGV Group after the Effective Time.

Timeshare Business is defined in the Bancomer Agreement.

Timeshare Business has the meaning given in paragraph 6 of Schedule 2.

Timeshare Business shall have the meaning assigned to such term in the Recitals to the Ninth Amendment.

Timeshare Business means all of the assets, business and operations of the Company relating to its vacation interval business.

Timeshare Business means the activity of offering, soliciting, negotiating or concluding timeshare contracts or points-based contracts and developing or managing a timeshare property;

Timeshare Business means (i) the acquisition, development, operation, management and sale of Vacation Resorts, including, without limitation, VOIs and (ii) providing customers who purchase VOIs at Vacation Resorts financing for such purposes (collectively, together with any and all business that in the good faith judgment of the board of directors of the Corporation or Starwood Vacation are materially related to the foregoing). "TOTAL ALTERNATE CURRENCY REVOLVING LOAN SUB-COMMITMENT" at any time shall mean the sum of the Alternate Currency Revolving Loan Sub-Commitments of all the Alternate Currency Lenders; PROVIDED that at no time shall the Total Alternate Currency Revolving Loan Sub-Commitment exceed (x) $350,000,000 or, if less, (y) the Total Revolving Loan Commitment as then in effect.