DEVELOPMENT AND OPENING OF STORE Sample Clauses

DEVELOPMENT AND OPENING OF STORE. A. LEASE OR SUBLEASE OF PREMISES OF STORE The FRANCHISEE will contemporaneously with the execution of this Agreement or such later date specified by the FRANCHISOR, lease or sublease the premises of the STORE identified in Paragraph A of Section 2 in the form and manner prescribed by the FRANCHISOR and deliver a copy of such executed lease or sublease to the FRANCHISOR immediately after execution thereof. The FRANCHISOR has the right to review and approve any lease or sublease for the premises of the STORE. The FRANCHISEE agrees not to execute any lease or sublease which has not been approved in writing by the FRANCHISOR. The FRANCHISOR may require that the premises of the STORE be subleased directly from the FRANCHISOR or its affiliate according to the terms of the FRANCHISOR or its affiliate's standard form of sublease or, at the FRANCHISOR's option, that the lease obtained by the FRANCHISEE be collaterally assigned to the FRANCHISOR pursuant to the terms of its standard collateral assignment of lease form, to secure the performance by the FRANCHISEE of his obligations hereunder. If the FRANCHISEE leases the premises directly, the lease for the premises of the STORE shall contain substantially the following provisions: