Master Franchise Agreement Sample Clauses

Master Franchise Agreement. The Obligor shall use its commercially reasonable efforts to ensure it and its Affiliates retain their respective material rights under the Master Franchise Agreement, taken as a whole.

Master Franchise Agreement. On 13 November 2023 (after trading hours), TJI Marugame (a wholly-owned subsidiary of the Company) entered into the Master Franchise Agreement with Toridoll Japan. The principal terms of the Master Franchise Agreement are set out below: Date 13 November 2023 Parties

Master Franchise Agreement. Seller shall assign the Master Franchise Agreement for the State of Nevada (the “Territory”) to Buyer as of the Effective Date. Buyer may pay Seller a refund of up to $275,000.00 of the Master Franchise Fee to the following extent: If Buyer sells a Master Franchise or its equivalent, for all or any part of the Territory, or Area Development or Unit Franchise Agreements and receives payment for such sales prior to May 15, 2012, Seller shall receive a refund, up to a total of $275,000 consisting of the amount of fees paid for any Master Franchise and fifty percent (50%) of the amount of fees paid for any Area Development Agreement or Unit Franchise Agreement. This paragraph 10.2 shall not apply to any fees paid by the existing sub-franchisee, Noah’s Creations, LLC or its principals or affiliates. Any Initial Franchise Fees or Area Development Fees received by Seller from Noah’s Creations, LLC will be applied as set forth in Paragraph 3.2(c) of this Agreement. In no event shall the total payments by Buyer to Seller under Paragraph 10.2 of this Agreement exceed a combined maximum total of $275,000.00. To the extent Buyer has not paid Seller a complete refund of $275,000 pursuant to the foregoing provisions, Buyer may pay any remaining portion of the $275,000 as follows: (a) one-half of the then-remaining balance between any amounts already paid and $275,000 shall be paid on or before May 15, 2011; and (b) the then-remaining balance shall be paid in twelve (12) equal monthly installments on the last day of each month, over the ensuing twelve months, concluding on May 15, 2012, to the extent such balance is not otherwise satisfied by payments under paragraph 10.2. If Buyer completes a secondary offering of its securities for a minimum of $5 million in equity financing, or secondary and subsequent offerings which together exceed $5 million in equity financing, or if more than 51% of Buyer is sold or transferred, then Buyer’s obligation to pay the balance of up to $275,000 shall be accelerated and payable immediately following the completion of such offering or sale.

Master Franchise Agreement. (i) The Bank shall have received a true, correct and complete copy of the Master Franchise Agreement, duly executed and delivered by each of the parties thereto, and the Master Franchise Agreement shall be in full force and effect; (ii) no provision of the Master Franchise Agreement has been amended, supplemented or modified in any respect; provided, however, that within the period commencing on the Amendment Effective Date and ending 30 days thereafter, the parties to the Master Franchise Agreement may enter into an amendment to the Master Franchise Agreement but only to the extent the provisions thereof (x) are substantially the same as those contemplated by the term sheet attached as Exhibit A, (y) could not reasonably be expected to be adverse in any material respect to the interests of the Bank under the Related Documents, and (z) do not amend, replace or otherwise modify Section 7.9.2 of the Master Franchise Agreement, except for the replacement of “$80,000,000” in clause (f)(ii) thereof with “$65,000,000,” and (iii) no default, event of default, breach (including, but not limited to, a “Material Breach” (as such term is defined in the Master Franchise Agreement)) or any event that with notice, lapse of time or both would result in a breach or similar event, has occurred and is continuing under the Master Franchise Agreement.

Master Franchise Agreement. (i) The Bank shall have received a true, correct and complete copy of the Master Franchise Agreement as in effect on the Fifth Amendment Effective Date, duly executed and delivered by each of the parties thereto, and the Master Franchise Agreement shall be in full force and effect; (ii) no provision of the Master Franchise Agreement has been amended, supplemented or modified in any respect, except to the extent that such amendment was permitted under the Letter of Credit, and (iii) no default, event of default, breach (including, but not limited to, a “Material Breach” (as such term is defined in the Master Franchise Agreement)) or any event that with notice, lapse of time or both would result in a breach or similar event, has occurred and is continuing under the Master Franchise Agreement.