Canadian Manager definition
Canadian Manager means Driven Brands Canada Shared Services Inc., as manager under the Canadian Management Agreement, and any successor thereto.
Canadian Manager has the meaning ascribed thereto in the preamble;
Canadian Manager shall have the meaning given such term in SECTION 21.1(b).
Examples of Canadian Manager in a sentence
Except for Canadian Direct Payment Amounts paid to the Canadian Manager or a third party, in each case, pursuant to the Priority of Payments or pursuant to priority (v) or (xix) of the Priority of Payments, all payments (but not all allocations) made pursuant to the Priority of Payments will be denominated in U.S. Dollars.
The Canadian Co-Issuer may enter into transactions with the other Canadian Securitization Entities to the extent permitted by Section 8.13, Section 8.18 and Section 8.21 to the extent necessary or helpful to give effect to the Priority of Payments (as determined by the Canadian Manager in accordance with the applicable Managing Standard) in order to acquire any such proceeds of any Permitted Brand Disposition.
Pursuant to Section 11.1(d) of the Base Indenture, if two CCR Candidates both receive votes from Controlling Class Members owning (or owning any beneficial interest in) exactly 50% of the CCR Voting Amount, the Manager, together with the Canadian Manager, shall select the Controlling Class Representative from among the CCR Candidates with the highest votes, and direct the Trustee to appoint such selected CCR Candidate as the Controlling Class Representative.
More Definitions of Canadian Manager
Canadian Manager has the meaning set forth in the introduction.
Canadian Manager means Driven Brands Canada Shared Services Inc. (or an affiliate it designates and together with its permitted successors and assigns) as manager pursuant to the Canadian Management Agreement, dated as of the Series 2020-1 Closing Date, by and among Driven Brands Canada Shared Services Inc., the Canadian Securitization Entities and the Trustee, as amended, supplemented or otherwise modified from time to time (the “Canadian Management Agreement”). “CARSTAR Business”: means the operation of automotive service businesses under the CARSTAR Brand. “CARSTAR Franchise Agreement”: means the current form of CARSTAR Franchise Agreement. “CARSTAR Services”: means services provided by the franchisor under each CARSTAR Franchise Agreement, including: (a) an outline of the CARSTAR Immersion Certification Program and timeline for training; (b) orientation/training programs; (c) on site visits in connection with completing the applicable SPV Franchising Entity’s Immersion Certification Program; (d) continuing consultation and assistance in the operation of the applicable SPV Franchising Entity’s Facility as such SPV Franchising Entity deems appropriate; (e) periodic meetings to review operations, procedures, management practices and cost efficiencies; (f) additional training programs as the applicable SPV Franchising Entity may require; (g) periodic inspections of the CARSTAR Facility as the applicable SPV Franchising Entity determines appropriate; (h) maintenance of a CARSTAR website; (i) a copy of the CARSTAR Manual; and (j) administration of insurance and marketing fees and programs. “CARSTAR System”: means CARSTAR’s system relating to format, style, merchandising, service and product preparation methods and techniques, signs, layout plans, advertising, marketing, inventory, bookkeeping system, and schedule of policies and practices for the operation of businesses specializing in a wide variety of interior, exterior and restyling services for vehicles. “CARSTAR Territory”: means the specific business location and territory granted to a Franchisee in which to operate a CARSTAR Business. “Change in Management”: will occur if more than 50% of the Leadership Team is terminated and/or resigns within 12 months after the date of the occurrence of a Change of Control; provided, in each case, that termination and/or resignation of any such member of the Leadership
Canadian Manager means Driven Brands Canada Shared Services Inc., as manager under the Canadian Management Agreement, and any successor thereto. “Canadian Meineke Franchisor” means Meineke Canada SPV LP, a special purpose Ontario limited partnership. “Canadian Meineke Franchisor GP” means Meineke Canada SPV GP Corporation, a special purpose Canadian corporation and a direct, wholly-owned subsidiary of the Canadian Co-Issuer, and the general partner of Canadian Meineke Franchisor. “Canadian Product Sourcing Business” means the Product Sourcing Business operated by one or more Canadian Securitization Entities (including, without limitation, Driven Canada Product Sourcing) as of the Series 2020-1 Closing Date and thereafter. “Canadian Residual Account” means an account maintained in the name of and for the benefit of the Canadian Co-Issuer, or any other Canadian Securitization Entity, to which the Canadian Residual Amount, or a portion thereof attributable to such other Canadian Securitization Entity, will be paid on each Weekly Allocation Date. The Canadian Residual Amount, and any amount on deposit therein, will not be pledged as Collateral. “Canadian Securitization Entity GPs” means Driven Canada Claims Management GP and, together with Canadian CARSTAR GP, Canadian Maaco Franchisor GP, Canadian Meineke Franchisor GP, Canadian Take 5 GP, Go! Glass Franchisor GP, Star Auto Glass Franchisor GP and Driven Canada Product Sourcing GP, for their respective limited partnerships. “Canadian Residual Amount” means, for any Weekly Allocation Date with respect to any Quarterly Fiscal Period, the amount, if any, by which the amount allocated to the Canadian Collection Account on such Weekly Allocation Date exceeds the sum of the amounts to be paid and/or allocated on such Weekly Allocation Date pursuant to priorities (i) through (xxviii) of the Priority of Payments. “Canadian Securitization Entities” means the Canadian Co-Issuer and the Canadian Guarantors and each Future Securitization Entity organized in Canada, or any province or territory thereof. “Canadian Shortfall Payment Amount” means, with respect to each Weekly Allocation Date or Quarterly Payment Date (or any other applicable date), any Shortfall Payment paid or allocated by the Canadian Co-Issuer. “Canadian Take 5” means Take 5 Canada SPV LP, a special purpose Ontario limited partnership. “Canadian Take 5 GP” means Take 5 Canada SPV GP Corporation, a special purpose Canadian corporation and a direct, wholly-owned subsidiary ...