Franchisor definition
Examples of Franchisor 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.
If the applicable Franchisor shall deliver to Lender a copy of any notice sent to 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.
Subject to the terms of the Hotel Franchise, for the avoidance of doubt, Manager acknowledges and agrees that in no event shall Manager have the right to utilize any intellectual property of Franchisor without the prior written consent of Franchisor or written agreement with Franchisor.
Subject to the Approved Budget, Manager shall be obligated to comply with the Franchisor Property Improvement Plan, brand standards changes and/or any other requirements of the Hotel Franchise, as may be imposed from time to time.
All insurance policies shall be renewed, and proof of such renewals shall be delivered by the Party that holds the applicable policy to the other Party, Lender and Franchisor at least ten (10) days prior to their respective expiration dates.