Examples of Franchised Restaurants in a sentence
Blue expressly acknowledges and agrees to open and/or operate a minimum number of Franchised Restaurants each year in the Territory either by itself or through Subfranchisees as set forth on Exhibit A hereto (“Minimum Development Obligation”).
Furthermore, Red shall have the right to inspect Franchised Restaurants and the equipment and fixtures therein and the products and services being sold and generally to investigate the manner in which Subfranchisees are conducting their business; in the event of any such inspections, Blue and its employees shall cooperate fully and use its best efforts to cause Subfranchisees and their employees to cooperate fully with Red.
Traditional Franchised Restaurants Of the approximately 11,435 domestic traditional franchised McDonald’s restaurants opened at least 1 year as of December 31, 2019, approximately 78% had annual sales volumes in excess of$2,300,000; approximately 68% had annual sales volumes in excess of$2,500,000; and approximately 58% had annual sales volumes in excess of $2,700,000.
In addition to the Fee, Blue shall also pay to Red by the tenth (10th) of each month during the term hereof an ongoing royalty fee in the amount of one point five Percent (1.5%) of the Gross Revenues of all Franchised Restaurants operated by Blue.
Blue will submit to Red by the tenth (10th) of each month on the appropriate report forms approved by Red a correct statement signed by Blue of monthly gross sales for the preceding month from all Franchised Restaurants operated by Blue and by the fifteenth (15th) of each month for all Subfranchisees.