Approved Franchisee definition

Approved Franchisee means any Obligor which is operating a Mortgaged Property under a franchise agreement with one of the Persons identified on Schedule E, as such schedule may be modified from time to time with the prior written consent of the Agent.
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Approved Franchisee means at any time and from time to time:
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Examples of Approved Franchisee in a sentence

  • Assign all or any part of its interest in, or grant any participation in, any Approved Franchisee Loan.

  • In the event that acceleration of the time for payment of any of the Obligations is stayed upon the insolvency, bankruptcy or reorganization of any Approved Franchisee, or for any other reason, all such amounts otherwise subject to acceleration under the terms of the Agreements evidencing, securing or otherwise executed in connection with any Obligation shall be immediately due and payable by the Guarantors upon demand.

  • Modify, amend or terminate any Approved Franchisee Loan, the Franchisee Loan Documents, or any other documentation evidencing or securing the same, or release any collateral relating thereto, or modify, amend, supplement or terminate or agree to modify, amend, supplement or terminate the Limited Liability Company Agreement of the Borrower, the Certificate of Formation of the Borrower, or any other origination document of the Borrower.

  • It is the College’s policy that a new DBS certificate is required for volunteers who will engage in regulated activity but who have not been involved in any activities with the College for three consecutive months or more.

  • The Lenders shall have no obligation to make Advances, the proceeds of which would be used to fund an Approved Franchisee Loan upon the occurrence of and during the continuance of a default under such Approved Franchisee Loan, and no further obligations to make Advances, the proceeds of which would be used to fund an Approved Franchisee Loan once an Event of Default has occurred under such Approved Franchisee Loan nor once such Approved Franchisee Loan has become a Defaulted Franchisee Loan.

  • If at any time any Rental LP Vehicles are being leased to a Franchisee who is no longer an Approved Franchisee, Rental LP shall immediately terminate, or cause the Servicer to terminate, the applicable Franchise Vehicle Lease Agreements and use all reasonable commercial efforts to ensure that such Vehicles are returned as soon as possible.

  • Should the Approved Franchisee default in the payment or performance of any of the Obligations and such default shall continue for 91 days, the joint and several obligations of the Guarantors hereunder with respect to such Obligations in default shall become immediately due and payable to BBL, upon demand.

  • The problem associated with the frequent of reporting is that greater frequency increases costs, time, and effort for a company as more reports are produced in a year.

  • Waiver of Terms, Conditions and Covenants of Approved Franchisee Loans..................68 SECTION 7.12.

  • The indicators of ecological footprint and biological capacity can complement the way growth and progress are captured and be a useful measure of China’s progress towards a harmoneous society.

Related to Approved Franchisee

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

  • Franchisor means Marriott International, Inc.

  • 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.

  • 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;

  • 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.

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

  • 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.

  • 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.

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

  • 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.

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

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

  • 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.

  • 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).

  • 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;

  • Market Operator means a person or persons who manages and/or operates the business of a regulated market. The market operator may be the regulated market itself;

  • Child care facility or “facility” means a child care center, a preschool, or a registered child development home.

  • Approved Lender is defined in Section 12.1.

  • Approved Dealer means (a) in the case of any Portfolio Investment that is not a U.S. Government Security, a bank or a broker-dealer registered under the Securities Exchange Act of 1934 of nationally recognized standing or an Affiliate thereof, (b) in the case of a U.S. Government Security, any primary dealer in U.S. Government Securities, and (c) in the case of any foreign Portfolio Investment, any foreign broker-dealer of internationally recognized standing or an Affiliate thereof, in the case of each of clauses (a), (b) and (c) above, as set forth on Schedule 1.01(a) or any other bank or broker-dealer acceptable to the Administrative Agent in its reasonable determination.

  • Approved Servicer shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender.”

  • 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.

  • Approved Entity means a body corporate which, on the occurrence of the Takeover Event, has in issue Approved Entity Shares.

  • Replacement Contractor means any third party service provider appointed by the Authority to supply any services which are substantially similar to any of the Services and which the Authority receives in substitution for any of the Services following the expiry, termination or partial termination of the Contract.

  • 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.

  • Approved Manager means, in relation to each Ship, Allseas Marine S.A. a corporation organised and existing under the laws of the Republic of Liberia, having its registered office at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxx and maintaining a ship management office at Voula Center, Xxxxxxxx Xxxxxx Xxxxxx 000-000, 000 00 Xxxxx, Xxxxxx or any other company which the Agent may, with the authorisation of the Majority Lenders, approve from time to time as the technical and/or commercial manager of a Ship;

  • Residential child care facility means a twenty-four-hour residential facility where children live together with or are supervised by adults who are not their parents or relatives;