Exchange Company. Resort Condominiums International, Inc. (“RCI”).
Exchange Company. This term is defined in Section 7.12 of the Shareholder ---------------- ------------ Agreement.
Exchange Company. This term is defined in Section 2.08 of this Agreement.
Exchange Company. Resort Condominiums International, Inc. (“RCI”) or Interval International, Inc. (“II”).
Exchange Company. 9 1.40 Executive Management Member...................................................... 9 RECEIVABLES LOAN AND SECURITY AGREEMENT i
Exchange Company. Each Component Site is affiliated, pursuant to a validly executed and enforceable agreement in writing, with Resorts Condominium International or Interval International. All fees and other amounts due and owing under such agreement have been paid, and there is no default under such agreement, and no condition exists which, with the giving of notice or the passage of time, or both would constitute a default under such agreement.
Exchange Company. Snowdance and Westerly shall select a VOI exchange company (the "Exchange Company"). Snowdance shall be responsible for the affiliation of the Resort with the Exchange Company and it will be the responsibility of Westerly to enroll the VOI purchaser in the Exchange Company. It is anticipated that the sale of VOIs will be structured by using a contract for a deed where the deed is held in escrow until either (a) any loan made by Snowdance or a third party financing source to the purchaser of the VOI is fully satisfied, or (b) the purchaser has paid in full and funds have cleared. As part of the sales contract, each purchaser will be responsible for all costs to record the deed and Snowdance agrees to obtain the necessary releases required to record such deeds.
Exchange Company. This term is defined in Section 7.12 of the Priority Shareholder Agreement.
Exchange Company. Lender has received evidence satisfactory to Lender that the Project has been accepted by Resort Condominiums International LLC ("RCI") into its reciprocal exchange program and continues along with Borrower (or Guarantor) to remain affiliated therewith as of the Closing Date. Borrower agrees that the Project shall at all times be affiliated with either RCI or Interval International. Borrower agrees to pay the applicable external exchange company any and all fees which are properly assessed by the exchange company in connection with Borrower's or the Project's affiliation therewith. Borrower shall continue to sell memberships in the applicable exchange company for so long as it is authorized to do so.
Exchange Company. Prior to the date of the Initial Sub-Loan Advance, Lender shall have received evidence satisfactory to Lender that the Timeshare Interests subject to the Lien of Lender’s Sub-Mortgage have been accepted by Resort Condominiums International LLC (“RCI”) or Interval International (“II”) into one of their respective reciprocal exchange programs and continues along with Borrower (or Guarantor) to remain affiliated therewith as of the applicable Sub-Loan Closing Date. Borrower agrees that such Timeshare Interests to the extent within the Borrower’s control, shall at all times be affiliated with either RCI or II. Borrower agrees to pay the applicable external exchange company any and all fees which are properly assessed by the exchange company in connection with Borrower’s or the Applicable Resort’s affiliation therewith. Borrower shall continue to sell memberships in the applicable exchange company for so long as it is authorized to do so.
