Management and Royalty Fees definition
Management and Royalty Fees means the management fees, royalty fees, compensation and other overhead chargebacks and similar fees and charges payable by the Company or any of its Restricted Subsidiaries to any direct or indirect parent of the Company or any Subsidiary of such parent that is not a Restricted Subsidiary of the Company for management services, use of trademarks and trade names, compensation, corporate overhead, and similar items, including all amounts payable under the arrangements described in the Offering Memorandum under “Intercompany arrangements – Management and royalty arrangements” and any similar arrangements.
Management and Royalty Fees means the amounts payable by the Borrower to the Partnership under the Franchise License Agreement and the Management Agreement.
Examples of Management and Royalty Fees in a sentence
The Borrower is not in default or breach of (with or without the giving of notice or passage of time) any agreement to pay Management and Royalty Fees to the Partnership.
The Borrower shall not make any payment of Management and Royalty Fees to the Partnership if, either before or after giving effect to such payment, a Default or Event of Default shall have occurred or be continuing.