Approved Franchise definition

Approved Franchise means any “Marriott International, Inc.” “Hilton Hotels Corporation,” “Bass Hotels & Resorts,” “Wyndham International, Inc.,” or “Starwood Hotels & Resorts Worldwide Inc.” franchise or license or another franchise or license approved by Required Lenders in writing.
Sample 1
Approved Franchise means any "Marriott International, Inc.," "Hilton Hotels Corporation," "Bass Hotels & Resorts," or "Wyndham International, Inc." franchise or license or another franchise or license approved by Required Lenders in writing.
Sample 1
Approved Franchise means any "Marriott," "Promus," "Holiday Inn," or "Summerfield" franchise or license or another franchise or license approved by Required Lenders in writing.
Sample 1

Examples of Approved Franchise in a sentence

  • The Borrower will not, nor will it permit any of its Subsidiaries (other than Permitted Other Subsidiaries) or any Approved Participating Lessee (other than as a lessee of a Permitted Non-Eligible Property) to enter into any termination, material modification or amendment of any Approved Franchise Agreement except in connection with the conversion of a Hotel Property from an Approved Franchise Agreement with one Approved Franchisor to an Approved Franchise Agreement with another Approved Franchisor.

  • Schedule 4.21 sets forth, as of the date of this Agreement, (a) which franchise agreements the Borrower expects to terminate, (b) the expected date of such termination, (c) the expected fees, if any, which will be owed to the franchisor being terminated in connection with such termination and (d) the expected replacement Approved Franchisor and the material terms of the expected replacement Approved Franchise Agreement.

  • For purposes of this Section 5.10, a "material default" shall mean a monetary default and any default, which if not cured, would be a default under any applicable Approved Franchise Agreement and Approved Management Agreement allowing the Person party to such agreement to terminate such agreement.

  • The Approved Participating Lessee for a Hotel Property subject to an Approved Franchise Agreement is the licensee under such Approved Franchise Agreement and no consent is necessary to such Person being the licensee under such Approved Franchise Agreement which has not already been obtained.

  • The only hotel franchise agreements burdening the Initial Properties (excluding the Permitted Non-Eligible Properties) are the Approved Franchise Agreements.

  • Neither the Borrower, the Parent nor any of their Subsidiaries is in default under or with respect to (i) any contract, agreement, lease or other instrument which could reasonably be expected to cause a Material Adverse Change or (ii) any Qualified Ground Lease, Approved Participating Lease, Approved Franchise Agreement or Approved Management Agreement.

  • If at the time of acquisition of a Hotel Property such Hotel Property is operated pursuant to a franchise or license agreement, then (i) such Hotel Property must be subject to an Approved Franchise Agreement with an Approved Franchisor, (ii) no material default by the franchisee under the Approved Franchise Agreement exists, and (iii) the Approved Franchise Agreement remains in full force and effect.

  • The Approved Franchise Agreements are in full force and effect and to the knowledge of the Borrower no material defaults by an Approved Participating Lessee exist thereunder.

  • To Borrower’s knowledge, none of Property Owner, TRS Lessee, or to Borrower’s knowledge, any other party thereto, is in material default under any Approved Franchise Agreement.

  • Lender also rescinds its notice of default set forth in Lender’s letter to Borrower dated as of April 22, 2010, with respect to Borrower’s failure to provide documentary evidence of completion of Required Reserve Expenditures under Approved Franchise Agreements, and waives any Default or Event of Default arising from Borrower’s failure to provide such documentary evidence (although Lender does not waive Borrower’s obligation to comply with all requirements under Approved Franchise Agreements).


More Definitions of Approved Franchise

Approved Franchise is defined in Section 203.3(b). “Breach” is defined in Section 701.
Sample 1
Approved Franchise means a franchise agreement approved by the City and UNT with an Approved Franchisor for a term of no less than eighteen (18) years from the date the Hotel opens for business, whereby OHPD is permitted to operate the Hotel and Restaurant using the name and reservation system of any Approved Franchisor.
Sample 1
Approved Franchise means the Hilton Garden Inn franchise arrangement with an Approved Franchisor whereby Partners is permitted to operate the Hotel as a select service, upscale hotel using the name and reservation system of the Approved Franchisor.
Sample 1
Approved Franchise means the Hilton Garden Inn franchise approved for the property, or a franchisor or select service, upscale hotels approved by City.
Sample 1

Related to Approved Franchise

  • New Franchise Agreement means the franchise license agreement to be entered into between Buyer and the Franchisor, granting to Buyer a franchise to operate the Hotel under the Brand on and after the Closing Date.

  • Franchise means a written contract or agreement between two or more persons whereby one

  • Existing Franchise Agreement means that certain franchise license agreement between the Seller and the Franchisor, granting to Seller a franchise to operate the Hotel under the Brand.

  • Franchise Agreements means (a) the Franchise Agreements set forth on Part IV of Schedule 4.01(p) hereto, and (b) any Franchise Agreement in respect of a Borrowing Base Asset entered into after the Closing Date in compliance with Section 5.01(r).

  • Franchisor means Marriott International, Inc.

  • Franchise Agreement or “Agreement” shall mean this Agreement and any amendments or modifications hereto.

  • approved facility means any private practice, hospital, clinic or other health facility in Namibia defined in section 1 of the Hospitals and Health Facilities Act, 1994 (Act No. 36 of 1994), approved by the Council for the purpose of the training of hearing aid acoustics interns, and “facility” has a corresponding meaning;

  • Franchise Area means the present legal boundaries of the City as of the Effective Date, and shall also include any additions thereto, by annexation or other legal means as provided in this Agreement.

  • Franchise Fee means a direct or indirect payment to purchase or operate a franchise. Franchise fee does not include any of the following:

  • Subfranchisor means a person who is granted a master franchise.

  • Approved List means Securities followed by the Global Fundamental Research Group and tracked on the Approved List. Securities may be added, removed, or undergo periodic ratings changes.

  • Franchisee means a person to whom a franchise is granted.

  • Franchise insurance means an individual insurance policy provided through a

  • Liquor warehousing license means a license that is issued:

  • Approved Flag means the Xxxxxxxx Islands flag, the Liberian flag and such other flag as the Agent may, in its sole and absolute discretion, approve as the flag on which a Ship shall be registered;

  • Approved Contractor means an “Approved Contractor” specified in the Key Details.

  • Approved Location means (a) a storage terminal or facility located in the United States or Canada owned by the Borrower or a Subsidiary; or (b) other storage location located in the United States or Canada identified by the Borrower by notice to the Administrative Agent for which, if requested by the Administrative Agent, the Borrower has used commercially reasonable efforts to cause the owner, operator or landlord thereof to execute and deliver, a waiver of lien, subordination agreement or similar agreement in form and substance reasonably acceptable to the Administrative Agent with respect to any inventories of Petroleum Products stored at such terminal or facility.

  • Property management system means the Contractor’s system or systems for managing and controlling Government property.

  • Approved Use means the use of the Project for the operation of a Healthcare Facility as a ___ ____ [insert type of facility] with __ __ [beds/units] [of which not less than __ ___ [beds/units] are [to be] in use] and such other uses as may be approved in writing from time to time by HUD based upon a request made by the Borrower, Operator, or Master Tenant, but excluding any uses that are discontinued with the written approval of HUD. Master Tenant shall ensure that use of the Healthcare Facility is in accordance with the Approved Use.

  • CAISO-Approved Meter means any revenue quality, electric energy measurement meter furnished by Seller, that (a) is designed, manufactured and installed in accordance with the CAISO’s metering requirements, or, to the extent that the CAISO’s metering requirements do not apply, Prudent Electrical Practices, and (b) includes all of the associated metering transformers and related appurtenances that are required in order to measure the net electric energy output from the Generating Facility.

  • Medical marijuana dispensary means the location from which a registered cardholder may obtain

  • License means any Copyright License, Patent License, Trademark License or other license of rights or interests.

  • Property management means leasing or renting, or offering to lease or rent, real property of others for a fee, commission, compensation, or other valuable consideration pursuant to a property management employment contract.

  • Approved Vendor means a person who has been approved for inclusion on an approved vendor list through the approved vendor list process.

  • Approved Lease means (a) each existing Lease as of the Closing Date as set forth in the Leasing Affidavit and (b) each Lease entered into after the Closing Date in accordance with the terms and conditions contained in Section 9.09 as such leases and related documents shall be Modified as permitted pursuant to the terms of this Agreement.

  • VA Approved Lender means a lender which is approved by the VA to act as a lender in connection with the origination of VA Loans.