Franchise Agreement definition
Examples of Franchise Agreement in a sentence
If the applicable Franchisor shall deliver to Lender a copy of any notice sent to Borrower or Mortgage Borrower of default under any Franchise Agreement, such notice shall constitute full protection to Lender for any reasonable action taken or omitted to be taken by Lender in good faith, in reliance thereon pursuant to this Section 5.1.21.
The Company shall continue to fulfill the Seller’s obligations under the Franchise Agreement.
Other than the Management Agreement and Franchise Agreement, there are no other agreements relating to the management of each hotel and its operations to which Mortgage Borrower or Operating Lessee is a party.
For example, terms including, without limitation, Borrower, Franchise Agreement, Liquor License, Loan Documents, Management Agreement, Property, Operating Lease, Operating Lessee, Owner’s Title Insurance Policy, PIP Budget, Pledgee Direct Subsidiaries, Pledgee Subsidiaries, Property Document, and Security Instrument shall be deemed to exclude the Alba Property and all Persons and documentation related thereto.
As of the date hereof, other than the PIP, there is no property improvement plan required pursuant to the any Franchise Agreement or any other material agreement affecting the Property, and Mortgage Borrower has completed all of the work included in the “Property Improvement Program” (as such term is defined in each Franchise Agreement) other than the PIP Work.