Attraction Syndicate Extention Nov 2024

Pursuant to 28.10 and 28.11 of the Yachtshare Purchase Agreement, this form provides a voting mechanism for syndicate owners to vote for or against the continuation of the syndication beyond the current Usage Period.

28.10 Where the majority of the syndicate indicate in writing to Yachtshare that they wish to continue the Usage Period beyond the expiration of the Usage Period then the owners not wishing to continue will have their shares listed for sale at an agreed return to each owner. The order in which the shares will be sold will be in chronological order with the purchase date of the share i.e. the first to have purchased the share, will be the first share offered for sale. The last share purchased will be the last share sold. Where an offer is rejected by an owner then the offer will be presented to the next owner and so on.

28.11 Where extraordinary situations arise that may effect the vessel, equipment, repairs, additions, costs, relocation, sale or access by owners to their vessel etc, then resolutions will be determined by a majority of owners. Owners who do not form part of the majority agree to abide by and accept the majority decision.