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326 INTERVAL INTERNATIONAL IntervalWorld.com
TERMS AND CONDITIONS
OF INDIVIDUAL MEMBERSHIP AND EXCHANGE
INTERVAL INTERNATIONAL, INC.
Interval International, Inc. (“II”) is a Florida corporation offering an exchange
service for use by its Members, and in certain circumstances, other travel and
leisure benefits (the “Exchange Program”). II is a wholly owned subsidiary of
Interval Holdings, Inc., a Delaware corporation. II’s principal office is at
6262 Sunset Drive, Miami, Florida 33143; 305-666-1861. The obligations of II,
pursuant to these terms and conditions, may be performed by II, its authorized
representatives, or designated licensees.
DEFINITIONS
1. “Club Program Exchange Member” means a MVCI Owner who enjoys
benefits of the MVC Destinations Program through his or her execution of
the requisite purchase agreement and payment of the applicable fee.
2. “Club Program Manager” means Marriott Resorts, Travel Company, Inc.
d/b/a MVC Exchange Company, which is a wholly owned subsidiary of MORI.
3. “Club Program Member” is a collective term meaning any Club
Program Trust Member or any Club Program Exchange Member of the
MVC Destinations Program.
4. “Club Program Trust Member” means an owner of a Vacation Interest
in a MVC Trust who is included in the MVC Destinations Program by virtue
of such ownership.
5. “Component Resort” means any location containing accommodations
at a site or resort that is part of the MVC Destinations Program or part of a
vacation ownership program which affiliated with the MVC Destinations
Program at which a Club Program Member may exercise occupancy rights
directly through the MVC Destinations Program.
6. “Confirmation” means a written or electronic acknowledgment from II
that a request for accommodations has been fulfilled.
7. “Host Resort” or “Host Accommodations” means the resort into which
the Club Program Member has been issued a Confirmation (including
Flexchange®, ShortStay Exchange® , and Getaway Confirmations, as well as
E-Plus® retrades).
8. “Individual Member” means any MVCI Owner who is enrolled in the
Exchange Program by MORI or otherwise, and who, by contract, agrees to
be bound by the terms and conditions of II membership and exchange as
amended from time to time. An Individual Member is said to be in good
standing with II and/or MORI when the Individual Member is current in
the payment of all fees or assessments prescribed by II or MORI and is in
compliance with all II, MORI, and/or any MVCI Resort terms and conditions
then in effect. The term “Individual Member” does not include any Club
Program Member where he or she participates in the Exchange Program by
virtue of the corporate membership in the Exchange Program maintained by
MORI, as explained in Membership, Paragraph 1 below.
9. “Interval Gold® ” and “Interval Platinum®” refer to the upgraded benefits
packages available to Individual Members and Club Program Members in good
standing upon their election and payment of the applicable Interval Gold or
Interval Platinum membership upgrade fee. Interval Gold or Interval Platinum
status provides such members with certain additional travel and leisure benefits
not available through basic membership in the Exchange Program.
10. “Member Resort” means any resort or vacation club membership
program for which a developer, or homeowners’ association, or other third
party has entered into a contract with II (including each of the Component
Resorts and MVCI Resorts), pursuant to which accommodations and facilities
may be made available to Club Program Members, Individual Members, and
Other II Members, as well as any resort for which II provides exchange
services directly to its owners.
11. “MORI” means Marriott Ownership Resorts, Inc., the developer of a
MVC Trust and the majority of the MVCI Resorts.
12. “MVCI Owner” means a person who owns a Vacation Interest at a
MVCI Resort, including, but not limited to, those persons owning a Vacation
Interest in that certain vacation ownership program known as Marriott
Vacation Club International (“MVCI”) or that certain vacation ownership
program operated by MORI or one of its affiliates in MORI’s Asia Pacific
timeshare plan, but does not include any such person, during the period for
which he or she elects to participate as a Club Program Member, except
where he or she maintains a Vacation Interest in a MVCI Resort, separate
and apart from the Vacation Interest giving rise to his or her status as a
corporate member of the Exchange Program.
13. “MVCI Resort” means a resort owned, operated, or managed by MORI or
its affiliates under the brand name of MVCI or Grand Residences by Marriott.
14. “Other II Member” means a person, persons, or entity who owns a
Vacation Interest at a Member Resort, excluding each Club Program Member
and MVCI Owner, and, by participating in the Exchange Program, agrees to
be bound by the terms and conditions of II membership and exchange.
15. “Points” means the symbolic currency utilized by the MVC Destinations
Program to quantify the ownership, reservation, use, and/or other rights of
a Club Program Member based upon the Club Program Member’s Vacation
Interest.
16. “Suspension” or “Suspended” means that a Member Resort is not in
compliance with an II affiliation agreement, II’s policies and procedures, or is
not otherwise in good standing with II. While a Member Resort is suspended,
processing of new memberships, membership renewals, and exchange
deposits and requests may be temporarily halted.
17. “TDI” or “Travel Demand Index” means the seasonal indices that are
updated periodically to reflect the cycles of relative weekly demand for a
specific geographic area. The TDI is a vacation-planning tool offered by II to
assist Members in determining which time periods offer the best opportunities
for travel to a particular region and when accommodations are most likely
to be available. The TDI is not an indication of the quality or desirability
of vacationing in any specific resort, geographic area, or season, nor is it
necessarily an indication of the availability of a particular week in the
Exchange Program.
18. “Vacation Interest” means the possessory rights, occupancy rights, or
usage rights in accommodations and related facilities for a period of time
during any given year, and which rights extend for any period prescribed or
allowed by applicable law for establishing a timeshare plan.
19. “Week” or “Weeks ” means the time period for which a Club Program
Member or Individual Member requests or, where applicable, relinquishes the
usage of a unit and the amenities and facilities of a vacation ownership resort.
Club Program Members should consult the MVC Destinations Program
Public Offering Statement and Reservation Procedures documentation for
information, details, and explanations of Points values and requirements, the
reservation and use of MVC Destinations Program accommodations and
facilities, and other terms and conditions regarding the MVC Destinations
Program. II is not responsible for fulfilling any such terms and conditions,
nor does II have any control over such terms and conditions. All information
contained in these Terms and Conditions regarding the Points and all matters
related thereto have been established by MORI and are subject to change
by MORI.
THE TERMS AND CONDITIONS SET FORTH HEREIN ARE
DIFFERENT FROM II’S STANDARD TERMS AND CONDITIONS OF
INDIVIDUAL MEMBERSHIP AND EXCHANGE FOR OTHER II
MEMBERS. THE TERMS AND CONDITIONS SET FORTH HEREIN
HAVE BEEN SPECIALLY AGREED UPON BY MORI AND II FOR
OBTAINING RESORT ACCOMMODATIONS THROUGH THE
EXCHANGE PROGRAM. THEREFORE,WHEN PLACING A REQUEST
FOR ACCOMMODATIONS WITH II, YOU SHOULD REFER TO THESE
TERMS AND CONDITIONS AND NOT THE STANDARD TERMS AND
CONDITIONS THAT ARE SET FORTH IN OTHER II PUBLICATIONS
FOR OTHER II MEMBERS. IN THE EVENT OF A CONFLICT BETWEEN
THESE TERMS AND CONDITIONS AND SUCH OTHER STANDARD
TERMS AND CONDITIONS, THESE TERMS AND CONDITIONS
SHALL PREVAIL.
MEMBERSHIP
1. MORI provides a corporate membership in the Exchange Program, and
each Club Program Member derives II membership benefits and exchange
privileges through such corporate membership.
2. MORI enrolls each Club Program Trust Member in the Exchange
Program upon his or her purchase of a Vacation Interest in a MVC Trust. In
subsequent years, MORI arranges for the II corporate membership renewal
for each Club Program Trust Member.
3. Neither MORI nor any developer of any Member Resort is an agent
for or a joint venturer with II. II does not sell, lease, or otherwise convey an
interest in any real property. Neither II nor any of its officers or directors
has any legal or beneficial interest in MORI or any developer or seller of any
resort participating in the Exchange Program. II, through its subsidiaries,
Trading Places International, LLC and its subsidiary TPI Management –
Canada Inc. (collectively, “TPI”), and Vacation Resorts International and
its subsidiary, Owners’ Resorts and Exchange, Inc. (collectively, “VRI”),
manages a limited number of the Member Resorts participating in the
Exchange Program.
4. MORI enrolls each Club Program Exchange Member upon his or her
election to participate in the MVC Destinations Program; provided, however,
where such person is an Individual Member at the time of such election and,
pursuant to such membership, has a deposited week, placed a pending