Annual or Every Other Year Usage:
Weeks that have occupancy rights every year are classified as Annual Usage. Some weeks have biennial use rights which means they can only be occupied every other year.

Check-In Day:
The check-in day is the first day a week begins, which varies among units. It will be either Friday, Saturday or Sunday. If the week begins on a Friday it ends the next Friday. Owners are permitted to check-in after the planned arrival date but the week will still end on the 7th day following the assigned check-in day.

Check Out Time:
The hour that check outs must occur by. For both resorts this is 10:00 a.m., ET. Check outs that occur after 10:00 a.m. on the assigned day may incur late check out charges.

Check-In Time:
The hour that check-in may begin on the Check-In Day. For both resorts this is 4:00 p.m., ET. Owners may check-in after the designated Check-In Time but not before, and late check-ins do not extend the Check Out Time.

Closing Costs:
Those costs associated with the closing process, which usually include: deed preparation, recording costs, escrow fee, and administrative fees.

Club Week:
Owners of Club Weeks are part of the Vistana Vacation Club. These include weeks in the Lakes and Cascades phases of Sheraton's Vistana Resort Orlando. Club weeks may be either fixed or float, but all have a floating unit assignment. Reservations may be made up to 12 months in advance of each week. Owners have the option to use their fixed or float week at their home resort or to exchange to another resort within the Vistana Vacation Club without going through an external Exchange Company.

Exchange:
Owners may exchange the week they own for a week at other resorts or for a different week at the resort they own. This requires membership in an affiliated Exchange Company.

Exchange Company:
A company that facilitates exchanges of weeks between its members. Owners can join an exchange company for a membership fee, then exchange their week through the Exchange Company for other weeks that are available. Each week has a trading power value established by the Exchange Company that determines the trading value against other weeks.

Fixed Unit:
Owners of Fixed Units will vacation in the same unit every year unless they exchange their week through an Exchange Company.

Fixed Week:
Owners of Fixed Weeks are assured of vacationing at the same numbered week each year. The Check-In Day will vary for weeks each year based on the Interval Calendar. Owners may vacation at a different time of the year if they exchange their week for another through an Exchange Company.

Floating Unit:
Owners of Floating Units can vacation in different units each year at their resorts without having to go through an Exchange Company.

Floating Week:
Owners of Floating Weeks may vacation at different times of the year within the season purchased, without having to go through an Exchange Company. Weeks belong to one of two season, Prime or High. The reservation window opens 13 months in advance of each week at the home resort and 12 months in advance of each week at non-home resorts. Floating weeks may be used at either the Sheraton's Vistana Resort Orlando, or Vistana's Beach Club. Only weeks in the Fountains, Fountains II, or Beach Club are classified as Floating Weeks.

Interval Calendar:
An annual calendar that reflects the Check-In Day and Check Out Day for each numbered week of the year.

Lockoff Unit:
A unit which has the capability of being used as either two separate one-bedroom units, or one two-bedroom unit.

Maintenance Fees:
An annual fee charged by the association to provide for services and replacement reserve funding. Services include front desk, housekeeping, maintenance, activities, etc., and are detailed in the annual association budget. Replacement reserves are collected each year and set aside for the replacement of unit furnishings, roofs, pavings, exterior painting, and deferred maintenance of the timeshare unit.

Odd or Even Year Use:
This is also referred to as biennial use. Owners of odd or even year use are permitted use every other even or odd year. For example, an owner of an even week would be permitted occupancy in even years (i.e., 2000, 2002, 2004).

Phase:
There are nine different phases at Sheraton's Vistana Resort Orlando. The resort was constructed over a 20-year period in different phases. The phases are the Courts, Falls, Spa, Palms, Springs, Fountains, Fountains II, Lakes and Cascades.

Season:
This applies only to Floating Week or Club Ownership. Owners of those weeks may float within their designated season, either as Prime or High.

Unit Size:
The units at these resorts are either one bedroom, two bedroom or lockoff. One bedroom units average 520 square feet with a maximum occupancy of 4. Two bedroom units average 1,160 square feet with a maximum occupancy of 6. Lockoff units average 1,400 square feet with a maximum occupancy of 8. Lockoff units may also be used as either a studio or one bedroom unit, which allows the owner to occupy each half for two weeks or the whole unit for one week.