Examples of Coordinated Franchise Structure(s) in a sentence
In the event that there are insufficient Coordinated Franchise Structures allocated to NYCMDC at any time to effectuate the reversions as contemplated by Sections 9.7.1, 9.7.2 and 9.7.3, then any such shortfalls shall be made up by a deduction by the Company from the cash portion of the Franchise Fee of the amount in cash calculated in accordance with Section 9.7.4, or, in the Company’s sole discretion, by a reduction in an equivalent amount of Alternative Compensation.
Additionally, all agreements entered into by the Company in connection with advertising on the Coordinated Franchise Structures shall include a provision requiring that upon expiration or sooner termination of this Agreement, the City shall have the option of assuming all the Company’s rights and obligations under such agreement.
No failure by the Company to install Coordinated Franchise Structures that gives rise to a right of the Company to reversion of Coordinated Franchise Structures from NYCMDC pursuant to Sections 9.7.1, 9.7.2 or 9.7.3 shall constitute a breach or default under this Agreement or give rise to the obligation to pay liquidated damages.
All agreements entered into by the Company in connection with the Coordinated Franchise Structures shall provide that such agreements and all records and documents related thereto shall be made available to the City upon request.
Except as otherwise stated in this Agreement, during the Term hereof, the City has no ownership interest, or any obligations with respect to, the Coordinated Franchise Structures.