Common use of Modernization and Refurbishment Upon Transfer Clause in Contracts

Modernization and Refurbishment Upon Transfer. Each and every transfer of any interest in this Agreement or business conducted hereunder is expressly conditioned upon Licensee promptly effecting such items of modernization, refurbishing and/or replacement of building, equipment, fixtures and signage as may be reasonably necessary to permit the same to conform to the standards then prescribed by American for similarly-situated new "Dairy Queen" store operations. Licensee acknowledges and agrees that the requirements of this Paragraph are both reasonable and necessary to insure continued public acceptance and patronage of the "Dairy Queen" system, and to avoid deterioration or obsolescence in connection with the operation of the business.

Modernization and Refurbishment Upon Transfer. Each and every transfer of any interest in this Agreement or business conducted hereunder is expressly conditioned upon Licensee promptly effecting such items of modernization, refurbishing and/or replacement of building, equipment, fixtures and signage as may be reasonably necessary to permit the same to conform to the standards then prescribed by American for similarly-similarly situated new "Dairy Queen" store operations. Licensee acknowledges and agrees that the requirements of this Paragraph are both reasonable and necessary to insure continued public acceptance and patronage of the "Dairy Queen" system, and to avoid deterioration or obsolescence in connection with the operation of the business.

Modernization and Refurbishment Upon Transfer. Each and every transfer of any interest in this Agreement or business conducted hereunder is expressly conditioned upon Licensee promptly effecting such items of modernization, refurbishing and/or replacement of building, equipment, fixtures and signage as may be reasonably necessary to permit the same to conform to the standards then prescribed by American for similarly-situated new "Dairy Queen" store operations. Licensee acknowledges and agrees that the requirements of this Paragraph are both reasonable and necessary to insure continued public acceptance and patronage of the "Dairy Queen" system, and to avoid deterioration or obsolescence in connection with the operation of the business. 8.

Modernization and Refurbishment Upon Transfer. Each and every transfer of any interest in this Agreement or business conducted hereunder is expressly conditioned upon Licensee promptly effecting such items of modernization, refurbishing and/or replacement of building, equipment, fixtures and signage as may be reasonably necessary to permit the same to conform to the standards then prescribed by American for similarly-similarly situated new "Dairy Queen" store operations. Licensee acknowledges and agrees that the requirements of this Paragraph are both reasonable and necessary to insure continued public acceptance and patronage of the "Dairy Queen" system, and to avoid deterioration or obsolescence in connection with the operation of the business.. -9-