Common use of Fixed or Floating Week Rights Clause in Contracts

Fixed or Floating Week Rights. (i) “Fixed Week” means the Owner’s “Assigned Summer Use Period” for which that Owner has a permanent reservation. (ii) “Floating Week” means each Owner shall also have the right to reserve on a priority basis and then use that Owner’s Assigned Cottage

Fixed or Floating Week Rights. (i) “Fixed Week” means the Owner’s “Assigned Summer Use Period” for which that Owner has a permanent reservation. (ii) “Floating Week” means each Owner shall also have the right to reserve on a priority basis and then use that Owner’s Assigned Cottage than one Interval at a single Cottage. However, in order to ensure compliance at all times with municipal zoning restrictions, no Owner shall be permitted to have legal or beneficial ownership of more than seven (7) Intervals at a single Cottage.