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INTERVAL INTERNATIONAL
IntervalWorld.com
TERMS AND CONDITIONS
OF INDIVIDUAL MEMBERSHIP AND EXCHANGE
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 Interval Gold
®
” refers to the benefits package available to
Individual Members at Member Resorts participating in the Club Interval
program upon payment of the applicable Club Interval Gold membership
fee. Club Interval Gold provides Members with the benefits of Interval
Gold
®
, including participation in ShortStay Exchange
®
and Interval
Options
®
, plus participation in Club Interval.
2. “
Club Interval Points
” means the symbolic currency utilized by Club
Interval to value the Member’s Home Resort accommodations and the
accommodations requested by the Member from the Exchange Program,
as well as other alternate accommodations requested through the Interval
Options program.
3. ‘‘
Confirmation
’’ means a written or electronic acknowledgment from
II that a request for accommodations has been fulfilled.
4. ‘‘
Fixed Time
’’ means that the Vacation Interest is for a specific time
period each year.
5. ‘‘
Floating Time
’’ means that the Vacation Interest is not for a
specific time period and may vary from year to year. Floating Time
accommodations are subject to the Home Resort’s own reservation
system and operating procedures.
6. ‘‘
Home Resort
’’ means the resort at which the Individual Member
owns a Vacation Interest.When the Individual Member owns a Vacation
Interest at more than one resort, the term “Home Resort” is used to
identify the resort at which a unit week or its equivalent in points is
being relinquished to effectuate an exchange.
7. ‘‘
Host Resort
’’ or ‘‘
Host Accommodations
’’ means the resort into
which the Individual Member has been issued a Confirmation (including
Flexchange
®
, ShortStay Exchange, and Getaway Confirmations as well as
E-Plus
®
retrades).
8. ‘‘
Individual Member
’’ or ‘‘
Member
’’ means a person, persons, or
entity who owns a Vacation Interest at a Member Resort and who, by
participating in the II Exchange Program, 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 the Home Resort when the Individual Member is current in the
payment of all fees and assessments prescribed by II and/or the Home
Resort and is in compliance with all II and Home Resort terms and
conditions then in effect.
9. ‘‘
Interval Gold
’’ and ‘‘
Interval Platinum
®
’’ refer to the upgraded
benefits packages available to Individual Members in good standing upon
payment of the applicable Interval Gold or Interval Platinum membership
upgrade fee. Interval Gold or Interval Platinum status provides Members
with certain additional travel and leisure benefits not available through
basic membership in the II Exchange Program.
10. “
Interval International Resort Directory
”or “
Resort Directory
” refers
to this publication and II’s online publication, which includes the Terms
and Conditions of Individual Membership and Exchange, as well as an
overview of benefits of II membership and a descriptive listing of certain
Member Resorts.
11. ‘‘
Member Resort
’’ means any resort or vacation club membership
program for which a developer, homeowners’ association, or other third
party has entered into a formal contract with II, pursuant to which
accommodations and facilities may be made available to Members, as
well as any resort for which II provides exchange services directly to its
owners.
12. “
Preferred Residences
®
Member Resort
” means any resort that has
satisfied the Preferred Residences Standards may be referred to as a
Preferred Residences Member Resort. A unique set of benefits and
services are provided to Individual Members in good standing as a result
of owning a Vacation Interest at a Preferred Residences Member Resort.
13. “
Preferred Residences
®
Standards
” refers to certain brand standards
of service, appearance, management, and operation as established by the
Preferred Hotel Group, Inc. (“Preferred”). The Preferred Residences
Standards trademarks and names are owned by Preferred and are used
by II under a license, which, in turn, II sublicenses to the development
entity, homeowners’ association, and/or resort manager associated with
each Preferred Residences Member Resort pursuant to an affiliation
agreement with II. Each such license and sublicense may be terminated
or revoked according to its terms. II may do business and communicate
with Members under the Preferred Residences name.
14. “
Preferred Points
” means the currency into which a Member’s
Preferred Residences Member Resort accommodations are converted
upon relinquishment. Each Member’s Preferred Points are held in his or
her “Preferred Points Account” until such time as they are used through
the issuance of a Confirmation or they expire.
15. ‘‘
Suspension
’’ or ‘‘
Suspended Resort
’’ means that a Member Resort
is not in compliance with an II affiliation agreement, II 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.
16. “
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.
17. ‘‘
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.
INDIVIDUAL MEMBERSHIP
1. Member Resorts usually arrange for initial membership in II for
their purchasers. These terms and conditions of Membership constitute
the Member’s contract with II, which is a separate and distinct contract
from a Member’s contract with the developer or seller of the Vacation
Interest. Individual Membership commences upon II’s receipt and
processing of an individual’s enrollment information and the applicable
membership fee.
2. In subsequent years, Individual Members are generally renewed
directly by II, and membership in the Exchange Program is voluntary.
At all times, participation in the Exchange Program is voluntary.
3.
No 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 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.
Membership benefits, including, but not limited to, participation in
Special Exchange Services and various incentive programs, will be
provided so long as the Member and the Home Resort are in good
standing with II.
Additionally, the Member must be in good standing
with the Home Resort. The use of certain Preferred Residences benefits
requires that the Member’s Interval Platinum membership be in good
standing. Membership benefits, other than the exchange privilege,
including certain Interval Gold, Club Interval Gold, Interval Platinum,
and Preferred Residences benefits, are subject to separate terms and
conditions. Said benefits, their providers, and their terms of use may be
changed, substituted, or eliminated without prior notice. Where benefits
are provided by independent third parties, II and Preferred Residences
expressly disclaim responsibility for the acts or omissions of any persons
or entities providing such benefits. Members are not required to
exchange their Vacation Interest to use any other benefits provided
through the Exchange Program. Members acknowledge and agree that
eligibility to receive benefits associated with ownership at a Preferred
Residences Member Resort shall not qualify a Member for participation
in any other program offered by Preferred Hotel Group, Inc. or any of its
affiliated business entities.
5. Membership in II is conditioned upon the Home Resort’s continued
adherence to II’s standards of service, appearance, management, and
operation; and, as it pertains to a Preferred Residences Member Resort,
the Preferred Residences Standards. A Member Resort’s failure to
