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    • Canadian securitization entities

    Definition of Canadian Securitization Entities

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    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.
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    Examples of Canadian Securitization Entities in a sentence

    As compensation for the performance of its obligations under this Agreement in respect of Excluded Locations, the Manager shall be entitled to receive a fee to be determined by the Manager and the applicable Canadian Securitization Entities from time to time in a manner consistent with the Managing Standard.

    As of the Series 2018-1 Closing Date (or the Series 2020-1 Closing Date with respect to the Canadian Securitization Entities), except as set forth on Schedule 7.7, the Co-Issuers are not aware of any proposed Tax assessments against any Driven Brands Entity.

    If the Canadian Securitization Entities shall fail to appoint a successor firm of Independent Auditors within thirty (30) days after the effective date of any such resignation or removal, the Control Party shall promptly appoint a successor firm of independent public accountants of recognized national reputation that is reasonably satisfactory to the Manager to serve as the Independent Auditors hereunder.

    The Manager, acting on behalf of each of the Canadian Securitization Entities, may in accordance with the Managing Standard and the terms of the applicable franchise agreement with Franchisees and this Agreement, as applicable, increase or reduce the Advertising Fees required to be paid by the Franchisees pursuant to the terms of the applicable franchise agreements.

    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.

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