Timeshare Upgrade definition
Examples of Timeshare Upgrade in a sentence
Extend (other than as a result of a Timeshare Upgrade or in accordance with Customary Practices), amend, waive or otherwise modify the terms of any Pledged Loan or permit the rescission or cancellation of any Pledged Loan, whether for any reason relating to a negative change in the related Obligor’s creditworthiness or inability to make any payment under the Pledged Loan or otherwise.
Extend, amend, waive or otherwise modify the terms of any Loan (other than as a result of a Timeshare Upgrade or in accordance with Customary Practices) or permit the rescission or cancellation of any Loan, whether for any reason relating to a negative change in the related Obligor’s creditworthiness or inability to make any payment under the Loan or otherwise.
Upon its creation, the new Loan created by such Timeshare Upgrade shall not be property of the Company, but may be sold by the Seller to the Company as an Additional Loan pursuant to the terms and conditions of this Agreement and any PA Supplement.
Other than in accordance with Section 7.5(d), extend (other than as a result of a Timeshare Upgrade), amend, waive or otherwise modify the terms of any Pledged Loan or permit the rescission or cancellation of any Pledged Loan, whether for any reason relating to a negative change in the related Obligor’s creditworthiness or inability to make any payment under the Pledged Loan or otherwise.
Extend (other than as a result of a Timeshare Upgrade or in accordance with Customary Practices), amend, waive or otherwise modify the terms of any Pledged Loan or permit the rescission or cancellation of any Pledged Loan, whether for any reason relating to a negative change in the related Obligor's creditworthiness or inability to make any payment under the Pledged Loan or otherwise.
If a Trendwest Loan becomes a Trendwest Timeshare Upgrade, the Issuer, upon the written request of the Depositor and the receipt by the Issuer or the Trustee of the Release Price from or on behalf of the Depositor, shall obtain a release of such Pledged Loan from the Lien of this Indenture and upon such Release, shall transfer the Trendwest Loan to the Depositor.
The Issuer shall provide written notice to the Trustee and the Collateral Agent of any release pursuant to this Section 14.6 not less than two Business Days prior to the date on which such release is to be effected, specifying the Trendwest Loan which has become a Trendwest Timeshare Upgrade and the Release Price therefor.
With respect to a Receivable, (i) if a closing of the related Contract has been delayed by not more than 45 days, the extension of the payment dates by a number of days equal to such number of days which such closing has been delayed, (ii) a waiver of late fees owed by the related Purchaser, (iii) a Permitted Timeshare Upgrade, (iv) Permitted Prior Modifications, and (v) any other modification approved in writing by the Master Servicer.
The Issuer shall provide written notice to the Trustee and the Collateral Agent of any release pursuant to this Section 14.7 not less than two Business Days prior to the Payment Date on which such release is to be effected, specifying the Trendwest Loan which has become a Trendwest Timeshare Upgrade and the Release Price therefor.
A Timeshare Upgrade made during a Settlement Period; provided that (i) no Developer Event of Termination (other than any such event described in clause (f) of the definition thereof) has occurred, and (ii) no Shortfall shall exist, or shall result from such Timeshare Upgrade and the related prepayment requirement under Section 2.5 of the SPV Loan Agreement, with respect to such Settlement Period.