Common use of Automatic Termination Without Notice Clause in Contracts

Automatic Termination Without Notice. Subject to applicable laws of the jurisdiction in which the franchise is located to the contrary, Area Operator shall be deemed to be in default under this Agreement, and all rights granted herein shall at our election automatically terminate without notice to Area Operator if: (i) Area Operator shall be adjudicated bankrupt or judicially determined to be insolvent (subject to any contrary provisions of any applicable state or federal laws), shall admit to its inability to meet its financial obligations as they become due or shall make a disposition for the benefit of its creditors; (ii) Area Operator shall allow a judgment against him in the amount of more than $25,000 to remain unsatisfied for a period of more than thirty (30) days (unless a supersedeas or other appeal bond has been filed); (iii) if the Restaurant at the Premises or the Area Operator’s assets are seized, taken over or foreclosed by a government official in the exercise of its duties, or seized, taken over, or foreclosed by a creditor or lien holder provided that a final judgment against the Area Operator remains unsatisfied for thirty (30) days (unless a supersedeas or other appeal bond has been filed); (iv) if a levy of execution of attachment has been made upon the license granted by this Agreement or upon any property used in the Restaurant at the Premises, and is not discharged within five (5) days of such levy or attachment; (v) if Area Operator consents to the entry of an order for relief in an involuntary proceeding or to the conversion of an involuntary proceeding to a voluntary proceeding under any such law; (vi) if Area Operator consents to the appointment of, or the taking of possession by a receiver, trustee, or other custodian (as defined in the Bankruptcy Code) for all or a substantial part of its property or the property of the franchise business; (vii) if Area Operator permits any recordation of a notice of mechanics lien against the Restaurant at the Premises or any equipment at the Restaurant at the Premises which is not released within sixty (60) days; or (viii) a condemnation or transfer in lieu of condemnation occurs.

Automatic Termination Without Notice. Subject to applicable laws Applicable Laws of the jurisdiction in which the franchise Restaurant operated hereunder is located to the contrary, Area Operator Franchisee shall be deemed to be in default under this Agreement, and all rights granted herein shall at our Franchisor’s election automatically terminate without notice to Area Operator Franchisee if: (i) Area Operator Franchisee shall be adjudicated bankrupt or judicially determined to be insolvent (subject to any contrary provisions of any applicable state or federal laws), shall admit to its inability to meet its financial obligations as they become due due, or shall make a disposition for the benefit of its creditors; (ii) Area Operator Franchisee shall allow a judgment against him in the amount of more than $25,000 to remain unsatisfied for a period of more than thirty (30) 30 days (unless a supersedeas or other appeal bond has been filed); (iii) if the Restaurant at Licensed Restaurant, the Premises or the Area OperatorFranchisee’s assets are seized, taken over or foreclosed by a government official in the exercise of its duties, or seized, taken over, or foreclosed by a creditor or lien holder lienholder provided that a final judgment against the Area Operator Franchisee remains unsatisfied for thirty (30) days (unless a supersedeas or other appeal bond has been filed); (iv) if a levy of execution of attachment has been made upon the license granted by this Agreement or upon any property used in the Restaurant at the PremisesLicensed Restaurant, and it is not discharged within five (5) 5 days of such levy or attachment; (v) if Area Operator consents to the entry of an order for relief in an involuntary proceeding or to the conversion of an involuntary proceeding to a voluntary proceeding under any such law; (vi) if Area Operator consents to the appointment of, or the taking of possession by a receiver, trustee, or other custodian (as defined in the Bankruptcy Code) for all or a substantial part of its property or the property of the franchise business; (vii) if Area Operator Franchisee permits any recordation of a notice of mechanics lien against the Licensed Restaurant at the Premises or any equipment at the Licensed Restaurant at the Premises which is not released within sixty 60 days, or if any person commences any action to foreclose on the Licensed Restaurant or said equipment; (60vi) daysFranchisee allows or permits any judgment to be entered against Franchisor or any of its Affiliates, arising out of or relating to the operation of the Licensed Restaurant; or (viiivii) a condemnation or transfer in lieu of condemnation has occurred; (viii) Franchisee or any of its Owners, officers, directors, or key employees is convicted of or pleads guilty or nolo contendere to a felony or any other crime or offense that is reasonably likely, in the sole opinion of Franchisor, to adversely affect the Franchisor’s reputation, System, Marks or the goodwill associated therewith, or Franchisor’s interest therein; provided, however that if the crime or offense is committed by an Owner other than an Operating Principal, then Franchisor may only terminate on account thereof if such Owner fails within 30 days after the conviction or guilty plea, whichever first occurs, to sell its interest in Franchisee to Franchisee’s other Owners; or (ix) Franchisee’s failure to comply with Article 12 or Article 21 of this Agreement.

Automatic Termination Without Notice. Subject to applicable laws Applicable Laws of the jurisdiction in which the franchise Franchisee's “Xxxxxxxx Coffee” Coffeehouse is located to the contrary, Area Operator Franchisee shall be deemed to be in default under this Agreement, and all rights granted herein shall at our election automatically terminate without notice to Area Operator Franchisee if: (i) Area Operator Franchisee shall be adjudicated bankrupt or judicially determined to be insolvent (subject to any contrary provisions of any applicable state or federal laws), shall admit to its inability to meet its financial obligations as they become due due, or shall make a disposition for the benefit of its creditors; (ii) Area Operator Franchisee shall allow a judgment against him in the amount of more than $25,000 5,000 to remain unsatisfied for a period of more than thirty (30) 30 days (unless a supersedeas or other appeal bond has been filed); (iii) if the Restaurant at the Premises “Xxxxxxxx Coffee” Coffeehouse or Location, or the Area Operator’s Franchisee's assets are seized, taken over or foreclosed by a government official in the exercise of its duties, or seized, taken over, or foreclosed by a creditor or lien holder lienholder provided that a final judgment against the Area Operator Franchisee remains unsatisfied for thirty (30) days (unless a supersedeas supersedes or other appeal bond has been filed); (iv) if a levy of execution of attachment has been made upon the license granted by this Agreement or upon any property used in the Restaurant at the Premises“Xxxxxxxx Coffee” Coffeehouse, and it is not discharged within five (5) 5 days of such levy or attachment; (v) if Area Operator consents Franchisee permits any mechanics lien to attach to the entry of an order for relief in an involuntary proceeding “Xxxxxxxx Coffee” Coffeehouse or to the conversion of an involuntary proceeding to a voluntary proceeding under any such lawequipment or other Leasehold Improvements; (vi) if Area Operator consents Franchisee allows or permits any judgment to be entered against Company or its subsidiaries or affiliated corporations, arising out of or relating to the appointment of, operation of Franchisee's “Xxxxxxxx Coffee” Coffeehouse; or the taking of possession by a receiver, trustee, or other custodian (as defined in the Bankruptcy Code) for all or a substantial part of its property or the property of the franchise business; (vii) if Area Operator permits Franchisee is convicted of any recordation of a notice of mechanics lien against the Restaurant at the Premises felony, or any equipment at criminal misconduct relevant to the Restaurant at operation of the Premises which is not released within sixty (60) days; or (viii) a condemnation or transfer in lieu of condemnation occurs“Xxxxxxxx Coffee” Coffeehouse.