Marriott Vacation Club Owner Trust 2012-1 - Standard and Poor's ...
Marriott Vacation Club Owner Trust 2012-1 - Standard and Poor's ...
Marriott Vacation Club Owner Trust 2012-1 - Standard and Poor's ...
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U.S. Equipment Loans <strong>and</strong> Leases ABS <strong>St<strong>and</strong>ard</strong> & <strong>Poor's</strong> Ratings Services 17g-7 Disclosure Report: <strong>Marriott</strong> <strong>Vacation</strong> <strong>Club</strong> <strong>Owner</strong> <strong>Trust</strong><strong>2012</strong>-174 Not included in the Benchmark. With respect to a <strong>Trust</strong>-Based Timeshare Loan, alltimeshare fee or other estates in MVC Units held bythe MVC <strong>Trust</strong>ee (i) have been properly conveyed tothe MVC <strong>Trust</strong>ee, (ii) are owned by the MVC<strong>Trust</strong>ee with full legal <strong>and</strong> equitable title thereto, free<strong>and</strong> clear of all liens <strong>and</strong> (iii) have a certificate ofoccupancy75 Not included in the Benchmark. With respect to a <strong>Trust</strong>-Based Timeshare Loan,none of <strong>Marriott</strong> <strong>Owner</strong>ship Resorts Inc., MVC <strong>Trust</strong><strong>Owner</strong>s Association, Inc. or, to the best of theSeller’s knowledge, First American <strong>Trust</strong> FSB is indefault under the MVC <strong>Trust</strong> Agreement or hascaused the one-to-one right to use nightrequirement ratio to fail to be maintained withrespect to the <strong>Trust</strong> Property.76 Not included in the Benchmark. If the related Domestic Obligor has a FICO score,such Domestic Obligor’s FICO score is 600 orgreater.Copyright © <strong>2012</strong> by <strong>St<strong>and</strong>ard</strong> & <strong>Poor's</strong> Ratings Services LLC. All rights reserved. No reprint or dissemination without S&P’s permission.See Disclaimer on the last page. Page 16