Subparagraph (a of Section 1. Employment of the Agreement is hereby deleted and the following new subparagraph (a) is hereby substituted in its place:
Subparagraph (a. I of Paragraph XI of the Franchise Agreement is hereby replaced in full by the following new subparagraph A. I of Paragraph XI: "FRANCHISEE shall submit to FRANCHISOR, on a form approved by FRANCHISOR, a correct statement of gross receipts signed by an appropriate officer of FRANCHISEE, no later than the twelfth (12 calendar day after each fiscal month end. Also, no later than such twelfth (1211) calendar day after each fiscal month end, FRANCHISEE shall pay to FRANCHISOR the Continuing Services and Royalty Fee payment based on the gross receipts reported in the statement so submitted. Said payment shall be deposited by FRANCHISEE into a bank account in Duval County. Florida convenient to FRANCHISEE designated by FRANCHISOR. FRANCHISEE will make available for reasonable inspection at reasonable times by FRANCHISOR, all original books and records that FRANCHISOR may deem necessary to ascertain gross receipts."
Subparagraph (a of Section 2.
Subparagraph (a of Paragraph 6 is hereby amended in its entirety, effective as of December 1, 2002, to read as follows: "Except as otherwise provided herein, the Employee may sell, assign, transfer, borrow against, surrender or cancel the Policy, change the beneficiary designation thereof, in any such case, only with the express written consent of the Corporation provided that the Corporation has met its obligations under the terms of this Agreement."
Subparagraph (a. The following text beginning in the third line is hereby deleted "or assumed by Purchaser at Closing pursuant to the terms hereof".
Subparagraph (a. The following text beginning in the third line is hereby deleted ", evidence of the assumption by Purchaser of Seller's obligations under the Loan Documents and the release of Seller from the "Lender" (as hereinafter defined) from all liability in connection with the Loan Documents (in form and substance acceptable to Seller in its reasonable discretion)".
Subparagraph (a of Section 1. Employment of the Agreement is hereby deleted and the following new subparagraph (a) is hereby substituted in its place: (a) USA shall employ Xxxxxxx as President and Chief Operating Officer commencing on the date hereof and continuing through June 30, 2005 (the "Employment Period") and Xxxxxxx hereby accepts such employment. Unless terminated by either party hereto upon at least 60-days notice prior to end of the original Employment Period ending June 30, 2005, or prior to the end of any one year extension of the Employment Period, the Employment Period shall not be terminated and shall automatically continue in full force and effect for consecutive one year periods. If during the Employment Period, Xxxxxxx shall be required to take a role which is substantively different than that contemplated by this Agreement, or if during the Employment Period a USA Transaction (as such term is defined in the Employment Agreement of Xxxxxx X. Xxxxxx, Xx.) shall occur, then Xxxxxxx may upon thirty days prior notice to the Company, terminate the Employment Period. Upon such termination by Xxxxxxx, neither party shall have any further duties or obligations hereunder, provided, however, that Herbert's obligations under Sections 5 and 6 hereof shall survive any such termination.
Subparagraph (a. All Representations Reduced to Writing These Paragraphs clarify that the Buyer has not relied on any information other than his or her own inspections for making a purchase decision and that all conditions of the Agreement must be contained in writing as part of the Agreement itself. Ask the Buyer to list any additional representations which he or she is using to make the decision to purchase the Property and include them in the Agreement. Practice Tip: Information on an MLS sheet is not part of the Agreement of Sale as written. If information from the MLS has been relied upon, include it in an addendum in order to incorporate it into the contract. Much of this information is already included in Paragraph 10.
Subparagraph (a. All Representations Reduced to Writing This Paragraph clarifies that the Buyer has not relied on any information other than his or her own inspections for making a purchase decision and that all conditions of the Agreement must be contained in writing as part of the Agreement itself. Ask the Buyer to list any additional representations which he or she is using to make the decision to purchase the Property and include them in the Agreement.
Subparagraph (a of Section 1. Employment of the Agreement is hereby deleted and the following new subparagraph (a) is hereby substituted in its place: (a) USA shall employ Xxxxxx as Chairman and Chief Executive Officer commencing on the date hereof and continuing through June 30, 2005 (the "Employment Period") and Xxxxxx hereby accepts such employment. Unless terminated by either party hereto upon at least 60-days notice prior to end of the original Employment Period ending June 30, 2005, or prior to the end of any one year extension of the Employment Period, the Employment Period shall not be terminated and shall automatically continue in full force and effect for consecutive one year periods.
