) Villa Preferred Access Membership. (1) General. A Villa Preferred Access Membership means the right of a Member to participate in the Club Points Program. Upon a Villa Preferred Access Member’s exercise of the right and option to use the Club Projects, the usage rights conveyed to such Member shall be converted into Club Points as described on the Villa Preferred Access Membership Certificate. The Villa Preferred Access Member shall have the right to redeem the Club Points with the Club for accommodations at any of the Projects or for other Club services or benefits as may be offered by the Club and available from time to time, throughout the life of the Member’s Villa Preferred Access Membership. (2) Creation of Club Points. The total number of Club Points in the Villa Preferred Access program shall be the sum of all of the Club Points available by taking into consideration all the Units. That inventory shall have an associated Club Point value for every night of the year and that value shall be based upon the Unit Type including the cost of the resort product, relative supply and demand for the accommodation size, historical market average occupancy rates, resort seasonality, holidays and special events, day of the week and other applicable factors as determined from time to time by the Club. The total number of Club Points within the Villa Preferred Access program may vary slightly from year to year based on Use Periods falling on certain days within that year. Club Points may be increased upon the addition of future phases or other Projects or resort locations associated with the Club. (3) Reallocation of Club Points. In the best interest of Villa Preferred Access Memberships as a whole, the Club may elect to reallocate Club Points across Seasons, Project locations and/or Unit Types. Any such reallocation shall be based upon research of specific market data. Villa Preferred Access Members will be notified of any planned reallocation of Club Points, other than a reallocation resulting from the addition or deletion of Club Projects or locations, approximately 12 months prior to any such reallocation becoming effective. At no time will the original Club Points allocated to a Villa Preferred Access Member at the time of purchase of that Member’s Villa Preferred Access Membership be reallocated or decreased. The Club and/or the Developer of a Project may at any time decide to remodel a Project to upgrade that Project to the standard and quality of any other Project, or otherwise, which could then change the value of the Club Points associated with that Project. (4) Club Point Charts. The Club shall issue Club Point Charts which describe the associated Club Point value required for a Villa Preferred Access Member to use his or her Use Period. The Club reserves the right to periodically modify, change, and/or amend the Club Point Charts. (5) Club Point Allocations to Members. When a Villa Preferred Access Member chooses to use his or her Use Period, the allocation of the Club Points for that Use Period will be determined based on the Membership Certificate given at the time of purchase. The date may vary for the annual allocation of Club Points.