CLUB INFINITI CLUB RULES - DVC Cast Member Application

CLUB INFINITI
CLUB RULES (“Rules”)
1. These Rules shall apply to all Members of Club Infiniti (the “Club”) which is a proprietary club
controlled and operated by the Developer and the Management Company.
2. RIGHTS OF OCCUPATION
(a) The Trustee shall exercise control over the Accommodation and shall use its best endeavours to
keep it free from any mortgage, lien or encumbrance except for the protection of the Members’
Occupancy Rights and to ensure that nothing is done which might prejudice the Members’
Occupancy Rights.
The Club will continue in perpetuity in accordance with the Deed of Trust and subject to
provisions contained in these Rules. The Club will continue in perpetuity using Accommodation
held in accordance with the Deed of Trust and subject to provisions contained in these Rules. In
particular, the Developer shall be solely responsible to ensure such Accommodation as is held in
trust that is not in perpetuity is replaced by other Accommodation so as to ensure that the
aggregate number of Points conferred on all current and valid Points Certificates does not
exceed the aggregate number of Points attached to the Accommodation.
(b) (i) Any Purchaser, by entering into a Purchase Agreement, a Form of Transfer, or such other
suitable document in use from time to time and on complying with the legal obligations
contained therein shall become a Pure Points Member or a Ceded Points Member and shall be
allotted the number of Points detailed therein, annually. Such document shall at all times, be
deemed to include, inter alia, a commitment by the Purchaser to be bound by the Rules. On
becoming a Pure Points Member or a Ceded Points Member, the Purchaser’s name and details
will be added to the register.
(ii) With the express written permission of the Developer or its duly authorised representative,
all or part of the consideration under a Purchase Agreement may be in the form of the
assignment to the Developer of Occupancy Rights at resorts which are not the subject of the
Deed of Trust. The Points allotted annually in such circumstances shall be designated as Ceded
Points and the Occupancy Rights related thereto, as Ceded Accommodation. The Purchase
Agreement by which the Ceded Accommodation is assigned to the Developer shall specify the
number of Ceded Points pertaining thereto. In the event of Ceded Accommodation being
deemed unusable, for whatever reason, then the Ceded Points Member’s rights under the
Purchase Agreement, the Points Certificate and these Rules shall be suspended until such time
as the Ceded Accommodation becomes useable and any warrantees given by the Trustee shall
not apply to said Ceded Points Member. The Management Company shall be the sole arbiter of
whether Ceded Accommodation is useable. Subject to clause 2(c)(iv), assignment to the
Developer, in these circumstances shall be permanent, except with the written consent of the
Developer or unless the accommodation is deemed unusable.
(c) (i) The Trustee shall issue a Points Certificate to each Pure Points Member or Ceded Points
Member (hereinafter both referred to as “Member” unless the context specifically indicates
otherwise) which shall indicate the number of Points to be allocated annually to the Member and
which shall entitle the registered holder to exclusively occupy the various types of
Accommodation, in accordance with the Points Table, for Holiday Periods up to the value of his
Points holding at the time of booking, taking into account a Member’s right to Borrow and/or
Save Points from year to year, in accordance with clause 2(c)(iii) hereof; provided always that
Points Certificates shall not be issued such that the aggregate number of Points conferred on all
valid Points Certificates exceeds the aggregate number of Points attached to the
Accommodation and the Ceded Accommodation. The Points Certificate shall indicate whether it
refers to Pure or Ceded Points.
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(ii) No Points may be used unless the associated Management Charge has been paid.
(iii) Subject to complying with the terms of the foregoing sub-clause a Member may bring
forward and use his annual Points allocation (“Borrow”) by a single calendar year or carry
forward any unused part of that year’s Points allocation (“Save”) for a single calendar year. A
Member’s earliest available annual Points allocation will automatically be used first on the next
allocation to that Member of Exclusive Rights of Occupation. In the event of a Member wishing
to Borrow Points, the Management Charge for the year from which the Points are being
Borrowed shall be due in advance. If that Management Charge has not been established, the
Management Charge will be computed as detailed in clause 7 hereof. The Borrowing of Points
and the use of Borrowed Points may be suspended or otherwise limited by the Management
Company from time to time.
(iv) The first year in respect of which Points are credited is as shown on the Purchase
Agreement. In the event of Points credited in the Initial Points Use Year not being utilised, or if
the Completion Date is such that the Points due in the Initial Points Use Year can not be utilised
in that year, they will be carried forward to the subsequent year as described in the Rules of
Occupation.
(v) In the case of Points pertaining to Ceded Accommodation, Membership of the Club shall
cease on the termination date attributed to such Ceded Accommodation.
(vi) The Weekly Periods will be numbered from 1 to 52 in accordance with the IEEO Table of
Weekly Periods.
(vii) The Developer, who alone may authorise the issue of a Purchase Agreement to prospective
Purchasers, is beneficially entitled to any Holiday Periods not allocated to Members in any year.
(viii) The Developer and/or the Management Company may from time to time and at their
discretion alone supplement availability of the Accommodation by Alternative Accommodation
and the term Accommodation shall include Alternative Accommodation where the context so
requires.
(ix) The Management Company may from time to time and at its sole discretion vary the value
of Points as set out in the Points Table in respect of Alternative or other Accommodation which
may be rented in from time to time to cater for fluctuations in Reservation demands.
(x) Notwithstanding any Ceded Accommodation becoming unusable as provided in clause
2.(b)(ii) hereof, in the event that any of the Resorts fail to attain the Club Infiniti standard, the
Developer, at its sole discretion, reserves the right to remove the Resort concerned and replace
it with a resort of an acceptable standard.
(d) Notwithstanding clause 2 (c)(i) of these Rules, the Developer may designate certain Points
Certificates as relating to “Fixed” Holiday Periods and a specific Holiday Unit, which shall confer
Exclusive Rights of Occupation for the Fixed Holiday Period in the specific Holiday Unit annually
as detailed in the Points Certificate.
(e) Registered holders of Points Certificates, other than those designated as “Fixed”, shall apply for
and be allocated occupation of the Accommodation as follows:-
For each year, Members may apply to the Management Company (at its reservation office(s))
for the allocation of the Exclusive Rights of Occupation of one or more Accommodation, for one
or more Holiday Periods, with a Points value, as detailed in the Points Table, up to a maximum
of the number of Points allocated to that Member, for that year, augmented by any Points
Borrowed or previously Saved by that Member in accordance with these Rules. Such application
shall only be considered by the Management Company if the associated Management Charges
have all been paid.
Members may Save up to one year’s Points allocation for use in the following year. If Points are
Saved and used for a Reservation that is then cancelled, the Points shall remain in the year into
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which they have been Saved. Points that have been previously Saved cannot be Saved into the
next year.
If a Member has not used all of his Points by the end of a current year, the Points eligible to be
Saved will be automatically Saved into the following year’s allocation. Points that have been
Saved must be used in the year into which they were Saved. Thus, any Points that are not
used in the year into which they have been Saved will expire at the end of that year. The
saving of Points and the use of Saved Points may be suspended or otherwise limited by the
Management Company from time to time at its sole discretion.
3. MEMBER WITHDRAWAL OF CEDED ACCOMMODATION
a) A Member may only withdraw Ceded Accommodation ceded to the Club in accordance with
Clause 2(b)(ii) of these Rules, prior to the expiration of the occupancy rights pertaining to such
Ceded Accommodation, as stated in Clause 2(c)(v) of these Rules, subject to the following
conditions:
(i) by the Member giving no less than 12 months notice, in writing, of his intention to withdraw
the Ceded Accommodation from the Club
(ii) the Member has no outstanding Reservation with the Club or IEEO
(iii) no transfer of such Ceded Accommodation to a third party is effected until expiry of the 12
months notice period without the express consent of the Club
(iv) there are no Exclusive Rights of Occupation allocated to any 3 rd party based on the Ceded
Accommodation concerned
(v) the Points Certificate issued to the Member relating to the Ceded Points allocated in respect of
the Ceded Accommodation is duly surrendered and returned to the Club or the Trustee as may
be directed
b) In the event that a Member wishes to surrender his/her Exclusive Rights of Occupation based on
Ceded Accommodation within the first five years of his/her depositing his/her Ceded
Accommodation into the Club an Administration and Trustee Fee, of £500 is payable. Such fee
being subject to increase from time to time at the discretion of the Club and Trustee.
c) In the event that a Member wishes to surrender his/her Exclusive Rights of Occupation based on
Ceded Accommodation five years or more after his/her having deposited his/her Ceded
Accommodation into the Club an Administration and Trustee Fee of £250 is payable. Such fee
being subject to increase from time to time at the discretion of the Club and Trustee.
d) Following withdrawal of Ceded Accommodation the Member’s Ceded Points Membership
pertaining to that Accommodation will be automatically cancelled.
4. RESERVATIONS
a) Reservation Requests: A Member may request a Reservation at any time after the issue of
his Points Certificate and upon redemption of the number of Points set out in the Points
Table. A Member shall only be permitted to make a Reservation if the Member is in
compliance with any and all of his obligations and has paid all fees due to the Club, the
Management Company and his Ceded Accommodation, his membership is otherwise valid
and he is otherwise in compliance with the Project Documentation.
b) Points Usage, Priority: In order to make a Reservation for use of Accommodation at Prime
Resorts, Associated Resorts, Home Resorts or for the use of the IEEO Accommodation
during any year, a Member may only use Points allocated in that year and any Points Saved
or Borrowed into that year. Points shall be used in the following order: Saved, current,
Borrowed.
c) Reservation Periods: The Club’s administration contains a variety of Reservation periods:
Home Week Priority Period The Home Week Priority Period is designed to support a Full
Member’s use of his Fixed Accommodation. During the Home Week Priority Period, a Member
who Deposited Fixed Accommodation has the exclusive right to reserve the use of that
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Accommodation, subject to the Project Documentation. The Home Week Priority Period is 547
days to 517 days (approximately 18 to 17 months) prior to the first day of occupancy of the
Fixed Accommodation.
Home Resort Priority Period. The Home Resort Priority Period is designed to support a Full
Member’s use of Accommodation at his Home Resort. During this period, Reservations of
Accommodation in the Home Resort are available on a first come first served basis with only
Full Members who Deposited Accommodation at that Home Resort eligible to make a
Reservation. The Home Resort Priority Period is 517 days to 486 days (approximately 17 to
16 months) in advance of the start date of the relevant Accommodation. If a Member makes
a week-long Home Resort Priority Reservation at the Resort where that Member deposited
Floating Time and the Reservation is during his floating use period, then the Member will use
his entire allocation of Points arising out of that Accommodation to make that Reservation.
Club Infiniti Priority Period. The Club Infiniti Priority Reservation Period is designed to
support a Full Member’s use of Accommodation at resorts in the Club Infiniti Group. During
this period, Reservations of Accommodation in the Club are available on a first come first
served basis with only Full Members who have Deposited Fixed or Floating Accommodation to
the Club or have purchased Pure Points eligible to make a Reservation to an Infiniti Resort
during this period. The Club Infiniti Priority Period is 486 days to 303 days (approximately 16
to 10 months) prior to the start date.
Standard Reservation Period. The Standard Reservation Period is the time period during
which all Accommodation at Club Infiniti Resorts and all Accommodation at IEEO Resorts
becomes available for Reservation by all Members and all members of the IEEO on a first
come, first served basis. The Standard Reservation Period begins 303 days (approximately
10 months) and ends 2 days in advance of the start date of the relevant Accommodation.
Access to IEEO Reservations
Reservations Periods governing access to IEEO Reservations are determined by the terms
and conditions of the IEEO.
d) Split Reservations: A Split Reservation entitles the Member who obtains such a Reservation
to use Accommodation at a Resort on less than or more than a full Weekly Period, including a
split week use. Minimum lengths of say and the Reservation period applicable to a Split
Reservation will be determined by the Management Company and the management company
for each Resort. A Member may not make a Split Reservation during the Home Resort
priority Reservation priority period
The Management Company reserves the right to designate, from time to time different priority
Reservation periods than those contained herein.
e) All Reservations of Accommodation at resorts included in the Club are subject to availability
based upon allocation of Points to a respective Member and as determined by the Management
Company in accordance with the Project Documentation. All Reservations, with the exception of
Home Resort Fixed Accommodation, are subject to availability on a first come, first served
basis. All Reservations are contingent upon the Member requesting the Reservation and having
sufficient Points to obtain desired Accommodation.
f) Limitations, restrictions and priorities may, from time to time, be employed in the operation
of the Club, including limitations based on seasonality, Unit size or other factors. These
limitations may not be uniformly applied and as a result certain Accommodation may be
restricted in availability and Points values may be varied. Demand and supply of
Accommodation and, therefore, Points allocated to Accommodation, may be influenced by many
different factors. Location, quality, timing, region and comparability are among those factors,
any or all of which may change constantly.
The Developer may at its sole discretion, make available to Members, other products in
exchange for the Points allotted to that Member and at a Points value determined by the
Developer. The Developer may also on occasion offer products and services including Off Peak
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Points, by postal, email or telephone solicitations. By becoming a Member of the Club, each
Member consents to such solicitation, including but not limited to solicitation through automatic
dialling equipment and/or pre-recorded messages. Further, each Member consents to being
informed of such products and services even if his membership has been suspended or has
otherwise expired or been terminated.
In order to maintain maximum utilisation of the Holiday Periods and to take account of non
payment of Management Charges by Members for which the burden would otherwise fall on
those Members who have maintained payment of their Management Charges the following will
apply:
Any Holiday Periods not specifically assigned to Members by the Developer may be made
available to the members of the IEEO; credits for any reservations made by the members of
the IEEO will accrue to the Club or such Holiday Periods will be designated as available to the
Developer and my be offered to Members or others at a rent to be determined by the
Developer, at his absolute discretion; The Developer shall be entitled to any income deriving
from such rent.
5. CANCELLATIONS
If a Member or guest cancels a Reservation there will be no refund of the Transaction Fee
charged and if a Member or a Guest cancels a Reservation the following policy will apply:
Cancellation received up to and including 90 days prior to commencement of the Holiday Period
- 100% of Points refunded
Cancellation received 89 - 46 days prior to commencement of the Holiday Period - 75% of
Points refunded.
Cancellation received 45 - 30 days prior to commencement of the Holiday Period - 50% of
Points refunded.
Cancellation received 29 - 0 days prior to commencement of the Holiday Period - 25% of Points
refunded.
Use of refunded points is governed by the standard reservation regulations as per these Rules.
If Points are used to services other than Accommodation the supplier’s standard terms and
conditions will apply.
6. EXTERNAL EXCHANGE PROGRAMME
(a) The Developer shall use its best endeavours to maintain in force an affiliation agreement with
the IEEO.
(b) Each Member will be automatically enrolled as a Member of the IEEO for the Initial Period specified on his
Purchase Agreement. After the initial period of enrolment, the cost of Membership of the IEEO, if
applicable, shall be included in the Infiniti Membership Fee payable by the Member.
(c) The external exchange programme of the IEEO will operate as follows:-
A Member may make a Reservation of the IEEO’s available Holiday Periods at any time after the
issue of his Points Certificate upon redemption of the number of Points set out in the IEEO’s Points
Table. A Member shall only be permitted to make a Reservation if the Member is in compliance
with any and all of his obligations and has paid all fees due to the Club, the Management
Company, the IEEO and his Ceded Accommodation, his membership is otherwise valid and he is
otherwise in compliance with the Project Documentation.
If an external exchange is requested and space is unavailable, the Member may submit an
ongoing request. Points are deducted at the time the Reservation is made. If a Member cancels
an external exchange Reservation the Points used to make that Reservation are not refunded to
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the Member. Instead, the Member may, subject to the terms and conditions of the IEEO, reserve
substitute Accommodation in the external exchange programme. The standard terms and
conditions of the IEEO, in addition to these Rules, apply to an external exchange. If there is a
conflict between these Rules and the terms and conditions of the IEEO, these Rules shall take
precedence.
7. MANAGEMENT & MANAGEMENT CHARGE
(a) Notwithstanding the fact that the Developer may have appointed the Management Company to
manage the Prime Resorts where applicable and to administer the Club, the Developer shall
remain responsible to arrange for their management and administration until the termination
date attributed to those Prime Resorts and agrees to diligently and faithfully carry out its duties
and to arrange for the maintenance, repairs, renewals and decoration and adequate insurance
of the Accommodation and the Resorts’ property when the same shall be necessary and so as
to interfere as little as possible with the Members’ enjoyment of their occupation of the
Accommodation. Such management will be carried out in accordance with the arrangements
and agreements in place at the relevant Prime Resorts.
(b) The Management Company shall have the right to delegate any of its responsibilities
hereunder with the agreement of the Developer. In the event of the Management Company
resigning the Developer shall appoint another legal entity to act as Management Company with
a Management Charge calculated in accordance with the terms of this clause, or shall act as the
Management Company itself.
(c) Members are responsible for payment of all Management Charges payable to the Club and all
maintenance and other fees payable by the Member to his Home Resort or Home Group in
respect of any associated Ceded Accommodation. The total of all Management Charges shall be
based on the Management Company’s estimate of the total costs of the Club in respect of, inter
alia, the Accommodation available within the Club and the cost of running, administrating,
managing and supervising the Club and its Reservations operation. Individual Management
Charges shall be calculated by reference to the number of Points Rights held by a Member as a
proportion of the total Points Rights allocated to Members after adjusting for payments made
direct by Members as described hereinafter. The Management Company reserves the right to
vary the basis upon which individual Management Charges are calculated which may inter alia
include a composite fee structure including the IEEO Enrolment Fee, Transaction Fee and
External Exchange Fee if considered to be appropriate by the Management Company. The
Management Company reserves the right to suspend or cancel Reservations (or the right of a
Member to make Reservations) in the event that payment of the individual Management Charge
is outstanding or where it is informed by the relevant Home Resort or Home Group that
payment of any such fees due to them in respect of Ceded Accommodation remaining unpaid.
(d) Without prejudice to the generality of the foregoing, the powers that the Developer has
delegated to the Management Company includes the power to collect any sums payable by, and
to enforce the obligations of Members pursuant to these Rules.
(e) Owners of Ceded Accommodation shall pay, and shall remain solely responsible for the
payment of, the management charge and all other charges in respect of the Home Resort or
Home Group, which shall be made directly to that resort’s management company. The
Management Charge for owners of Ceded Accommodation shall consist of the Membership Fee.
The Management Charge for all other Members shall consist of the Membership Fee and Points
Fee. The Management Charge shall be paid to the Management Company in accordance with the
following terms:
(i) For the Initial Points Use Year, if included in the purchase price specified in the Purchase
Agreement, at the date of purchase of his Points. If the Initial Points Use Year Points Fee is not
included in the purchase price specified in the Purchase Agreement or if Initial Points Use Year is
the following year the Points Fee is due and payable on receipt of an invoice from the
Management Company
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(ii) For subsequent years, on the first of November of the year preceding the year to which they
relate or within one month of invoice whichever is the later (the “Due Date”).
(iii) Interest at the rate of 2% per month plus a late payment charge of 25% of the Membership
Fee shall be added to any Management Charges not paid by the Due Date.
(f) The Management Charge at the base date of 1st January 2001 was a Membership Fee of £65.00
per Member plus a Points Fee amounting to between £0.45p and £1.00 per 100 Points Rights,
varying according to the number of Points Rights owned. Full details appear in the disclosure
document.
(g) Management Company shall promptly collect all Management Charges and shall disburse funds
received in respect of the Management Charges, firstly in satisfaction of the management
charges due to the Resorts, so as to ensure that there remains adequate Accommodation to
provide for all Points Certificates that are valid at that time. Thereafter the Management
Company shall have sole discretion in deciding what monies should be spent for any of the
purposes set out herein and when the same shall be expended.
(h) In addition the Management Company shall promptly pay and discharge out of such
Management Charges so collected, all expenses in relation to the running, administration,
management and supervision of the Club and its Reservations operation and shall maintain and
keep proper records and books of account and make them available at all reasonable times for
inspection by the Developer.
(i) In the event of a Member wishing to Borrow his Points from the succeeding calendar year (and
the Management Charge for that year not having been established), he shall pay a Management
Charge for that succeeding year, equivalent to the previous year’s Management Charge
increased by the percentage rise in that year’s Management Charge over that of the preceding
year.
(j) Where the Developer has appointed a Management Company, any dispute or difference between
the Developer and Management Company arising out of these Rules shall be referred to the
decision of a single expert to be agreed between them or in default of agreement to be
appointed on the application of either party by the Trustee. Should the Developer fail to appoint
a replacement Management Company, the Trustee may, at its sole discretion, make such
appointment in accordance with the Deed of Trust.
(k) In respect of any sums advanced or expended by the Trustee in connection with the Deed of
Trust, the Club, the Project Documentation or the parties thereto in accordance with clause
6.2(d) of the Deed of Trust, the Trustee shall be entitled to have recourse to and be indemnified
jointly and severally out of such part of the Trust Property, Management Charges and any other
assets as are held, by the Trustee, to the order of the Developer, the Management Company or
the Club, including the proceeds of sale thereof. For such purposes, the Trustee shall have all
the powers of an absolute owner to sell, let, mortgage or otherwise dispose of same, or any part
thereof, unrestricted by clause 3 of the Deed of Trust and the Rules.
8. FURTHER OBLIGATIONS OF MEMBERS
Each Member shall be subject to the following further obligations:-
(a) To occupy the Accommodation only from the first until the last day of each Holiday Period
allocated to him between the times notified by the Management Company or the Resort, as the
case may be.
(b) To keep and maintain the interior of the Accommodation occupied in a good and tenantable
state and condition during the period of the Member’s occupancy, and to pay or indemnify the
Developer against any damage, deterioration or dilapidation, other than as a result of fair wear
and tear, and damage or destruction by fire or any other insured risk, which may have occurred
during his occupancy period, of which the Developer shall be the sole judge.
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(c) In the event that any repair or maintenance work is required to Accommodation or its contents
whilst it is occupied by a Member, to allow reasonable access on reasonable notice except in the
case of emergency, to enable such work to be carried out.
(d) Not to make any alterations to any Accommodation or its contents. To pay all other expenses
incurred by the Member including all telephone calls made and to pay such reasonable deposit
as the Management Company may demand against its charges.
(e) To notify the Developer forthwith of any change in his permanent address.
(f) At all times to observe these Rules and the Reservation Conditions, both as amended from time
to time.
(g) Not to do anything which would make void or voidable the Club's or the Resorts’ insurance or
which may operate to increase the premium.
(h) To pay the Management Charge plus any other sums due, within one month of the same being
demanded.
(i) To pay all utility charges as detailed in the Disclosure Statement attached hereto and as
amended from time to time and to pay such reasonable deposit as the Management Company
may demand against such charges and/or breakages.
9.SUSPENSION & TERMINATION OF MEMBERSHIP
a) Suspension: A Member may be suspended by the Management Company from participation
in the Club and used of his allocated Points if:
(j) the Member breaches any provision of the Project Documentation or these Rules
(ii) the Member fails to pay any fees due and outstanding to the Club or any Resort,
including without limitation Home Resort management charges and/or maintenance fees
(iii) the Member fails to remain current in the payment of any purchase money obligations in
respect of Ceded Accommodation
(iv) the Resort associated with the Member’s Ceded Accommodation is not in good standing
with the Club
If a Member is suspended, the Member may not avail him or herself of the benefits of the Club,
including the following:
a) the Member may not obtain Reservations
b) the Management Company may cancel confirmed Reservations and remove the Member
from any wait lists
c) the Member may not be allocated Points for a respective year during suspension
Any suspension from the use of Points shall not release a Member or his Accommodation from
his obligations under the Purchase Agreement
b) Termination: The Management Company may terminate Membership upon the following
conditions:
(i) following suspension if the Member fails to remedy the reasons for such suspension
within a time period determined by the Management Company
(ii) in the event the Club terminates in accordance with the provisions of Clause 7 of the
Deed of Trust
(iii) the Member’s entitlement to Accommodation at his Home Resort is terminated
(iv) the Home Resort associated to the Member’s Ceded Accommodation does not remedy the
reasons for becoming the subject of suspension within a specified time period
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Each Member by entry into and completion of a Purchase Agreement or registering the transfer
to him of a Points Certificate as contemplated elsewhere herein subscribes to the provisions of
these Rules (as from time to time revised).
10. TRANSFER OF MEMBERSHIP RIGHTS
(a) i) Subject to the provisions of the above clause including, inter alia the Member being in good
standing with the Club with regard to the payment of the Management Charge, a Pure Points
Member may apply to dispose of his Points to any person, whether by sale, gift or otherwise, by
means of the Form of Transfer appearing on the reverse of the Points Certificate.
ii) On the death of a Member, his personal representative may apply to dispose of his Points in a
like manner.
iii) Upon delivery to the Trustee of the Pure Points Certificate evidencing the Points to be
transferred, together with a completed form of transfer signed by the transferor and the transferee,
together with such fee as the Trustee shall from time to time determine, the Trustee
shall replace the name of the transferor by that of the transferee in the Register and issue a
new Pure Points Certificate in the name of the transferee. Pending such replacement and issue
no effective disposal as contemplated at sub clauses (a) or (b) above shall be deemed to have
taken place.
iv) From the date of the entry of the name of the transferee in the Register, all obligations to
the Developer or the transferor under these Rules (other than obligations of the transferor
accrued at the time of the disposal of the Points Certificate by the transferor to the transferee)
shall thereupon cease and the transferee shall be entitled to exercise the rights of the Member.
b) A Member may transfer his Points to another Member for use in the transferee Member’s current
year of use. The transferee Member may transfer the transferred Points back to the transferor
Member, but not to another Member. In order to transfer Points, the Management Company
must have received a completed authorisation, in the form established by the Management
Company. If a Reservation fulfilled through the use of transferred Points is cancelled, such
transferred Points shall be returned to the account of the Member who made the Reservation.
The transferring of Points and the use of transferred Points may be suspended or otherwise
limited by the Management company from time to time.
11. OBLIGATIONS OF THE DEVELOPER AND TRUSTEE
The Developer and Trustee shall observe and perform all their obligations set out herein and in
the Deed of Trust from the date hereof and for the duration of the Club including inter alia
constitution of a new trust at the end of the Perpetuity Period and control by the Trustee over
the Occupancy Rights to be held for the benefit of the Developer and Members. The Developer,
Trustee and all other parties with access to the Register shall keep the contents thereof
confidential unless obliged to disclose same by law or, in the opinion of the Trustee, duly
authorised government body.
12. MEMBERS’ GUESTS
(a) A Member may arrange use of Accommodation by a guest. Reservations for guests must be
made by the Member. The Management Company reserves the right to make a charge for this
service.
(b) Notwithstanding any such permission as aforesaid, the holder of the Points Certificate shall
remain liable under the provisions of these Rules for Management Charges and in all other respects.
13. LIMITATION ON RIGHTS GRANTED TO MEMBERS
No Member shall be considered to be acquiring a property right on entering into a Purchase
Agreement. Any clause or sub-clause of these Rules shall be null and void in respect of any
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particular Purchase Agreement if the application of that clause or sub-clause would bring any
party to this Project Documentation or the Purchase Agreement itself within the scope of any
legislation relating to investment or to property rights in the country in which that Purchase
Agreement was entered into. Notwithstanding the fact that any clause or sub-clause of these
Rules may have become null and void as a result of the application of this sub-clause, all other
clauses or sub-clauses of these Rules shall remain valid and enforceable in their entirety.
14. PERSONAL DATA:
The Developer has contracted the Customer Services Company to carry out its central Customer
Service functions. This company is the responsible entity for the use and treatment of the
personal data of Members. The use and treatment of such personal data, operated in Spain, is
regulated by Spanish Constitutional Law 15/1999 concerning Data Protection (LOPD). Such Law
transposes European Directive 95/46 into Spanish legislation.
By purchasing or paying for services supplied by the Customer Services Company, the Member
expressly agrees – unless the Customer Services Company is specifically informed otherwise -
that their data may be communicated to and used by the Customer Services Company, as well as
communicated to and used by all its associated companies and its business partners, with the
purpose that such data is used to operate the Club´s Customer Services and to offer or to
provide the Member with commercial, financial or complementary services.
In accordance with article 5 of the above-mentioned Spanish Constitutional Law, the Members
data will be incorporated into an electronic database of personal data, to be used by the
Customer Services Company and to offer the Member commercial, financial or complementary
services of companies associated with the Customer Services Company and their business
partners. Members can exercise rights of access, rectification, deletion and opposition as
stipulated in such Constitutional Law and its guidelines. Members rights of deletion and opposition
cannot result in the Members being exonerated of their obligations as per the Rules and other
documents which form the Project Documentation of their club.
15. DEFINITIONS
The following expressions shall have the following meanings:-
“Accommodation” means apartments and any other holiday accommodation, in respect of
which the documents conveying Occupancy Rights have been issued in the name of the Trustee
(or a wholly owned subsidiary of the Trustee) and are held in trust for the Members. Such term
shall include Ceded Accommodation and Alternative Accommodation where the context so
dictates.
“Alternative Accommodation” means apartments or other holiday accommodation or
Holiday Periods therein, leased or rented by the Management Company to supplement
availability of the Accommodation at times of peak demand.
“Associate Resorts” means Resorts in which the Developer has acquired Exclusive Rights of
Accommodation that have been vested in the name of the Trustee
“Borrow” means the borrowing of Points from the next succeeding calendar year for use in the
current calendar year and derivatives thereof, such as “Borrowed” shall carry the same
connotation
“Ceded Accommodation” means accommodation to which a Ceded Member is entitled and in
which Occupancy Rights have been assigned to the Developer in return for Points to be allotted
annually.
“Ceded Points” means Points issued, partially or wholly, in return for Occupancy Rights in
Ceded Accommodation
“Ceded Points Member” means a Member who had deposited Ceded Accommodation in
Return for Ceded Points as specified in his Points Certificate
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"Club" means Club Infiniti Points Club, the business and affairs of which shall be run by the
Developer and the Management Company.
"Exclusive Rights of Occupation" means the rights conferred on all Members annually by the
Management Company, to occupy and enjoy any Accommodation, pursuant to these Rules, in
exchange for the number of Points allocated to that Member for that year augmented by any
Points Borrowed or previously Saved by that Member in accordance with these Rules.
“Fixed” means specific Accommodation and/or Holiday Period(s) for which a Member has the
exclusive right of occupation, pursuant to his Purchase Agreement
“Floating” means Ceded Accommodation for which a Member has the right to reserve
occupation on a first come, first served basis
“Form of Transfer” means the document which may be used for the transfer of Membership
rights, which appears on the reverse of the Points Certificate.
“Holiday Period" means the period of time, in respect of which, Exclusive Rights of Occupation
of the Accommodation are granted (or are available to be granted) to the Members, pursuant to
these Rules, the Points Table and the Purchase Agreements and valid Points Certificates in issue
and such term shall include, inter alia, Weekly Periods, Weekend Breaks Midweek Breaks and
Split Reservations.
“Home Resort” means the Resort at which a Ceded Points Member owns Exclusive Rights of
Occupation
“Home Group” means the group of Resorts in which a Ceded Points Member owns Exclusive
Rights of Occupation
“IEEO” means Resorts Condominiums International (RCI) the international external exchange
organisation and/or such other like organisation as the Developer may from time to time select.
“Initial Period” means the Period specified in the Purchase Agreement for which the
Membership Fee and the IEEO Enrolment Fee are included in the Purchase Price stated in the
Purchase Agreement.
“Initial Points Use Year” means the first year in which a Member is entitled to use Points as
specified in the Purchase Agreement.
“Management Charge” means the annual charge provided for herein and shall include the
Membership Fee and Points Fee (where appropriate) as detailed herein.
“Management Company” means the Developer or its appointee.
"Member" means a Purchaser after completion of all contractual obligations outlined in the
Purchase Agreement and the allocation to the Purchaser of a Points Certificate and
“Membership” shall be construed accordingly.
“Membership Fee” means the fee payable by all Members each year after the expiry of the
Initial Period and which and forms part of the annual Management Charge.
“Midweek Break” means a Holiday Period with a minimum of four nights which shall not
include a Saturday and Sunday night.
“Occupancy Rights” means the rights to use a specified Accommodation for all or part of each
year and shall include inter alia the Exclusive Rights of Occupation ceded to Members annually.
Such term shall include Ceded Occupancy Rights where the context so requires.
“Off Peak Points” means Points that can only be used in Periods designated as Off Peak from
time to time by the Developer.
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“Points” means the unit of value used to measure and compare the different Holiday Periods in
each calendar year and the different types of Accommodation at the Resorts, which are
transferred to Members under a Purchase Agreement, Form of Transfer or other similar
document and which can be exchanged annually by Members for Exclusive Rights of Occupation.
Such term shall include Ceded Points where the context so requires.
"Points Certificate" means the Certificate granted to the Member by the Developer evidencing
the Member’s entitlement to the number of Points specified therein. A specimen Points
Certificate is attached hereto.
“Points Fee” means the fee payable by Members, other than Ceded Points Members, each year
and is calculated on the basis of the number of Points owned. This fee forms part of the annual
Management Charge
“Points Table” means the table attached hereto, as revised from time to time, which details
the number of Points required to exclusively occupy each type of Accommodation for each
Holiday Period in each year.
“Prime Resorts” means Resorts owned and/or managed by the Developer
"Project Documentation" means these Rules, the Deed of Trust and all other documents
governing the running of the Club.
“Purchaser” means a person who has entered into a Purchase Agreement.
“Purchase Agreement” means the agreement by which the Developer agrees to sell and the
Purchaser to purchase a Points Certificate at the price and in accordance with the conditions set
out therein.
“Pure Points Member” means a Member who has completed a purchase of the number of
Points specified in his Points Certificate
“IEEO Accommodation” means occupancy rights in accommodation made available to the
Club for Reservation through or by the IEEO.
“Register” means the register of current Members maintained by the Developer or other
competent body.
"Resorts" means the various holiday resorts at which control over the Occupancy Rights in one
or more Accommodation for one or more Holiday Periods has been vested in the Trustee (or a
wholly owned subsidiary of the Trustee) or where the Trustee, or its nominee, is the holder of a
valid ownership document, or resorts in which Exclusive Rights of Occupation have been ceded
to the Club.
“Save” means the saving of Points allocated to a Member in a current calendar year to be
added to Points allocated in the subsequent calendar year for the purposes of making a
Reservation and derivatives thereof, such as “Saved” shall carry the same connotation
“Standard Reservation Period” means the time period during which all Accommodation at
Prime Resorts, Associate Resorts, IEEO Accommodation, or Home Resorts becomes available for
Reservation by all Members on a first come, first served basis.
“Split Reservation” means a reservation for a period less than or more than a full Weekly
Period and such term shall include, inter alia, Weekend Breaks and Midweek Breaks
“Transaction Fee” means the Fee payable by all Members for each booking or Reservation as
applicable.
“Trustee” means Hutchinson & Co Trust Company Ltd whose main place of business is at
Priory Court, Tuscam Way, Camberley, GU15 3YX or its assigns.
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“Weekend Break” means a Holiday Period with a minimum of three nights which shall include
a Saturday and Sunday night.
“Weekly Period” means a Holiday Period of seven nights.
"Developer" means Petchey Leisure Limited, a company registered in Ireland or its successors
or assigns.
“Customer Services Company” means the Spanish Company Vacation Management Holdings
SL of Centro Comercial Doña Pepa, 9, Urb. La reserva de Marbella., 29600 Marbella or any of its
successors or assigns.
15. MODIFICATION OF THE RULES
At its sole discretion the Developer may substitute the Project Documentation by that of the IEEO’s
own Points Documentation duly amended to take account of the specific differences between the
two projects. Further the Developer and Trustee may modify or add to the provisions of these Rules
in such manner and to such extent as they may consider necessary or expedient provided that the
Trustee shall certify in writing that in its opinion such modification, alteration or addition does
not materially prejudice the interests of the then existing Club and Members and does not operate to
release any of the parties hereto from any responsibility to the then existing Club and Members.
These Rules shall be governed by the Laws of Ireland
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