RESTAURANT CLOSURE Clause Samples

RESTAURANT CLOSURE. IFFP shall have the right to effect the closure of franchised Burger King restaurants in Poland subject to the following terms and conditions: 9.1 The said right shall lapse as regards restaurants which have not been closed within 24 months of the date of this agreement. 9.2 All losses, costs and expenses resulting directly or indirectly from any such closure shall be borne exclusively by IFFP. IFFP shall have no right of recourse whatsoever against BKC. IFFP shall indemnify and keep BKC indemnified against any claims which may be raised by third parties directly against BKC or indirectly relating to or as a result of such closure. 9.3 The above said right of Closure shall exist only in relation to any Burger King restaurant which has generated negative cash flows over a three month period taken as a whole prior to the date of such closure. IFFP may request BKC to agree to the closure of other restaurants but BKC may in its absolute discretion either grant or withhold such consent without in any way incurring liability in respect of its response, whether affirmative or negative. 9.4 If as a result of closures IFFP has fewer than eight restaurants, it may close all such restaurants provided that if at the time it forms an intention to close any one or more of the last seven restaurants IFFP has received a bona fide offer from a third party to purchase any one or more of the said restaurants for use as a Burger King restaurant, BKC shall have a right of first refusal in relation to such restaurant upon the terms and conditions set out in clause 15.4.1 of the relevant franchise agreement. If such offer from a third party is to purchase one or more of said restaurants for use other than a Burger King, Burger King shall have right of first refusal upon the terms and conditions set in clause 15.4.1 excepting the terms and conditions requiring a franchisee application to be completed by the purchaser will not be required and if Burger King rejects the offer the franchisee may sell the franchised restaurant or restaurants upon the terms offered to BKC without any further approval of BKC required. 9.5 Immediately IFFP forms the intention to close a restaurant it shall inform BKC in writing of the location of the restaurant and the proposed timing. Upon dosing the restaurant IFFP shall immediately take all necessary steps to remove all signs and other items bearing the name Burger King or any names or marks used in Burger King restaurants or capable of indicating a ...