Hyatt Vacation Club - Selected Rules

Transfer of Club Member's Timeshare Interest (Section 6.7)

....Upon HVOI's change in its records, the New Member will assume any existing reservations previously made by the Selling Member, unless the Club Points associated with the Timeshare Interest would not be sufficient to make such reservations. HVOI will notify the New Member of those existing reservations that are being assumed by the New Member. The New Member may cancel any reservations originally made by the Selling Member upon paying any cancellation fees required pursuant to Section 4.5 of these Club Rules...

 

Developer Right of First Refusal before Resale

Before Purchaser may resell the Purchaser’s Unit Week to a third party and for so long as the Developer  holds Unit Weeks for sale at the Condominium, Purchaser is required to offer  the Purchaser’s Unit Week to Developer upon the same terms and conditions, including financing, as is offered by or to the third party. Accordingly, Purchaser must notify Developer in writing no less than 30 days in advance of the proposed closing date of the Purchaser’s intent to sell and must include a copy of the proposed transaction reduced to writing in all respects. Upon receipt of such written notice, Developer shall determine prior to the proposed closing date whether it wishes to exercise its right of first refusal. If Developer elects to exercise its right of first refusal, Developer shall notify Purchaser in writing of such election, and the purchase by Developer shall be closed on or before the proposed closing date. If Developer fails to notify Purchaser of its election to exercise its right of first refusal prior to the proposed closing date, Purchaser may proceed to close the transaction with the third party upon the original terms and conditions offered by or to the third party. Developer’s right of first refusal is a covenant that runs with the land and shall always be a requirement binding on any successor in title to Purchaser.



| Home | HVC Resorts | New Properties |

| Last Update: March 31, 2008 | All Rights Reserved | Designed by Kal's Auto Parts and Fantastic Fortune Telling Services