Franchise. Contributor shall have been relieved from any obligations under the Franchise except for a final accounting of the current year's royalty payments, which, if Acquiror or Lessee assumes the Franchise, shall be prorated as of the Closing Date.
Appears in 4 contracts
Sources: Contribution Agreement (Innkeepers Usa Trust/Fl), Contribution Agreement (Innkeepers Usa Trust/Fl), Contribution Agreement (Innkeepers Usa Trust/Fl)
Franchise. Contributor shall have been relieved from any obligations under the Franchise except for a final accounting of the current year's royalty payments, which, if Acquiror or Lessee assumes the Franchise, shall be prorated as of the Closing Date.if
Appears in 2 contracts
Sources: Contribution Agreement (Innkeepers Usa Trust/Fl), Contribution Agreement (Innkeepers Usa Trust/Fl)