heres what it says in the trust agreement (i see I was a little slow getting this posted Looks like this is the third quote from the trust agreement)
wyndham has two sets of rights, one as an owner like the rest of us, and one as developer/manager
View attachment 4144
Thanks Ron for posting this. I like the highlighted paper version better. Have questions (no surprise, right?)
1) Is there anything in this trust statement that tells us that WYN cannot take reservations, either as owner or developer, pretty much all year long?
2) Regardless of the trust language, do we have any way, as owners, to police what is actually being pulled out specifically for WYN's use (don't care if it is for them as owner or developer -- want to know if there is any transparancy available to us)
3) Are there any schedules, ledgers or accounting documents available to the owners that support the ratio limitations (such as they are) stated in the trust?
4) How, specifically, outside of the written legaleze, does separation get made between "Wyndham" and the "Trustee?" Who / what IS the Trustee?
("...occupancy related expenses shall be determine by the Trustee")
Not asking to be contrary or snarky. Asking because I do not fully understand all of the nuances of this trust language and fully acknowlege your superior experience with this kind of stuff. And, I want to better understand how the following criteria fits into the equation:
1) Wyndham manages and controls the reservation system, which is also a type of inventory management system
2) Wyndham controls the points accounting system which is the currency used for FIFO extraction of the inventory.
3) Wyndham is both owner AND manager yet has SOLE access to the back-end detail of both the inventory and currency accounting
4 As manager of the points accounting system do operational protocols exist for regular reconciliation of owner points? If so, how do we, as owners get access to those reconciliations?