Area Development Agreements definition

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Area Development Agreements has the meaning specified in Section 2.13(a) of this Agreement.

Area Development Agreements means all development agreements for Stores pursuant to which a Franchisee, developer or other Person obtains the rights to develop (in order to operate as a Franchisee) one or more Stores within a designated geographical area. “Asset Disposition Collections” has the meaning set forth in Section 8.16 of the Base Indenture. “Asset Disposition Proceeds” means, with respect to any disposition of property by a Securitization Entity, other than dispositions resulting in Asset Disposition Collections, the excess, if any, of (i) the sum of cash and cash equivalents received in connection with such disposition (including any cash or cash equivalents received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) over (ii) the sum of (A) the principal amount of any Indebtedness that is secured by the applicable property and that is required to be repaid in connection with such disposition (other than Indebtedness under the Notes) to the extent such principal amount is actually repaid, (B) the reasonable and customary out-of-pocket expenses incurred by the Securitization Entities in connection with such disposition and (C) income Taxes reasonably estimated to be actually payable within two (2) years of such disposition as a result of any gain recognized in connection therewith. “Asset Disposition Proceeds Account” means the account maintained in the name of the Master Issuer, into which the Manager is required to cause Asset Disposition Proceeds to be deposited pursuant to Section 5.11(g) of the Base Indenture or any successor account established for the Master Issuer by the Manager for such purpose pursuant to the Base Indenture and the Management Agreement, including any investment accounts related thereto into which funds are transferred for investment purposes pursuant to Section 5.2(b) of the Base Indenture. “Asset Disposition Reinvestment Period” has the meaning specified in Section 5.11(g) of the Base Indenture. “Authorized Officer” means, with respect to (i) any Securitization Entity, any officer who is authorized to act for such Securitization Entity in matters relating to such Securitization Entity, including an Authorized Officer of the Manager authorized to act on behalf of such Securitization Entity; (ii) Planet Fitness Holdings, in its individual capacity and in its capacity as the Manager, any officer who is authorized to act for Planet Fitness Holdings or any other officer of P...

Examples of Area Development Agreements in a sentence

You must be in full compliance with all your obligations under any and all Franchise Agreements and Area Development Agreements executed between you and us.
For Area Development Agreements, depending on your experience and qualifications, we may impose requirements that include but are not limited to the experience and qualifications of the operating management of your stores.
Subject to the Managing Standard and the terms of the Indenture, the Manager shall have the authority, on behalf of the Franchisor, to grant or withhold consents of the “franchisor” required under the Franchise Agreements and Area Development Agreements held by the Franchisor.
Franchisor and Area Developer have entered into a Termination Agreement which terminated their December 30, 1997 and July 6, 2000 Area Development Agreements (hereinafter, together with all amendments thereto, collectively referred to as “Old Agreements”).
The actions of the Co-op shall be controlled by the terms and conditions of the applicable Franchise Agreement(s) and Area Development Agreement(s) but shall be otherwise governed by the majority vote of the members of the Co-op.
If this Agreement is terminated by LICENSOR with cause pursuant to the terms hereof, the Franchise Agreements and Area Development Agreements in LICENSEE's Exclusive Territory shall automatically and without further assignment, consent or other action by LICENSEE become the property of LICENSOR.
Schedule 3.9(a)(ix) sets forth an accurate and complete list of any and all other intangible property owned by each Relevant Entity, or an Affiliate thereof, which is used in the AF Business (the “Other IP” and, together with the Patents, Support Fund Marketing IP Materials, the Marks, Unregistered Marks, Copyrights, Licenses, Franchises, Area Development Agreements, Trade Dress, Domain Names, the “Intellectual Property”).
Definition Of Area Development Agreement For the purposes of this Agreement, the "Area Development Agreement" is defined as being the agreements and area development agreements used in connection therewith by LICENSOR from time to time in granting Area Development Agreements to DEVELOPERS pursuant to the terms thereof, a copy of the current form of which is attached to this Agreement as Exhibit 1.
As of the Closing Date, Seller shall have taken, or caused to be taken, all appropriate actions in accordance with all applicable requirements of Law with respect to the Franchises, the Area Development Agreements and the Brands UFOC, to ensure that the consummation of the transactions contemplated hereby will not alter or impair any of the Franchises and the Area Development Agreements or the ability of the Companies to continue to do business in the same way as prior to the Closing.
The UFOCs previously delivered to Purchaser contain a complete and accurate list of the name, last known address and telephone number of all Franchisees whose Franchise Agreements and/or Area Development Agreements were terminated, cancelled, not renewed, reacquired by the Company or who have otherwise ceased to do business during the period commencing on January 1, 2003, and continuing through the date of this Agreement.

More Definitions of Area Development Agreements

Area Development Agreements shall have the meaning set forth in Section 3.9(a).