RENTAL COMMITMENT. Owner acknowledges and understands that in listing the timeshare noted herein for rent with Manager, Owner is relinquishing any rights to occupy the timeshare interest listed for rent. Further, Owner acknowledges and understands that all timeshare interests listed for rental are entered into the Ridge Resorts rental availability block of units on a nightly basis, (not a weekly basis) by unit type, not by building designation, and are controlled by the Ridge Resorts as individual nights listed for rent by the listing owner, rather than weeks. Manager may move all rental nights listed to various rental units or buildings to accommodate rental reservations in a manner that allows the rental guest to not be required to move rooms during their stay. All such assigning of rental reservations and unit nights listed is done on a first listed-first rented basis whenever reasonably possible. Owner acknowledges that the Ridge Resorts Rental Program also provides rental services to Manager, the Ridge Tahoe, the Ridge View, the Ridge Crest, and the Ridge Pointe Property Owners Associations, Resorts West Vacation Club, GlobalAccess Exchange Company, LLC (“GAE”), and Orange Lake Land Trust which may take priority over individual Owner rentals. The nightly activity and rate charged (or not rented) for each owner night listed will be reflected on the Owner’s rental statement. A two-bedroom unit with two entry doors and the ability to “split” the unit into a hotel room and a one- bedroom suite, is entered into the nightly rental availability block with the option of renting as a two bedroom, or as a hotel room and one-bedroom suite separately. The nightly availability system is utilized to maximize rental activity and income for the listing owners. An Owner’s timeshare interest must be for seven (7) consecutive nights and the first day of occupancy of the timeshare interest must be a Friday, Saturday or Sunday. GAE members must reserve during the Resort Access booking windows in the room type and season owned. Only GAE members that own or have a Resort Access at the Ridge Resorts can use the Ridge Resorts Rental Program. If GAE member wishes to remove the unit from the timeshare interest from the rental pool, all GAE cancellation rules apply. An Owner may remove their timeshare interest from the Ridge Resorts Rental Program up to eight (8) days prior to the arrival date if no portion of the Owner’s has been rented. If an Owner wishes to occupy any un-rented nights, and such...
RENTAL COMMITMENT. The LESSOR grants a commercial lease to the LESSEE, which accepts, in conformity with the provisions of articles L.145- 1 et al of the Code of Commerce and those not codified of decree no. 53-960 of 30 September 1953, as modified, for the property and property rights designated hereafter, of which he is the owner, with all related rights. The Parties expressly decide, as an essential and determining condition of establishment of the present agreement, and as may be needed, to subject themselves, for the entire duration of the present lease and for its successive renewals, to the status of commercial leases governed by articles L 145-1 to L 145-60 of the Code of Commerce and subsequent texts, as they are currently drafted. The Lessee thus benefits, and under all circumstances, for the entire duration of the present Lease and its successive renewals, after their expiration, from the protection instituted by this statute, for the entirety of the rented premises, in the private areas and in the rights of exclusive enjoyment of the common areas and for all activities to be exercised there. As a result, the LESSOR may refuse to renew the lease with the Operator of the tourism residence. However, in this case, unless under the exceptions specified in articles L 145-17 et al of the Code of Commerce, he must pay the Operator an eviction indemnity equal to the prejudice caused by the absence of renewal. The manner of calculating this indemnity is set in the second paragraph of the abovementioned article L 145-14. This indemnity includes notably the market value of the business assets, determined according to standard practices in the profession, increased eventually by the usual expenses for relocation and reinstallation, as well as the expenses and transfer fees to be paid for assets of the same value, unless the owner proves that the harm is of a lower amount. TERRESENS VACANCES SAS au capital de 750 000 € RCS LYON n° 813 168 887 00, xxxxx Xxxxxxx (00000) LYON
