Manager Termination Event definition

Manager Termination Event means the occurrence of an event specified in Section 6.1 of the Management Agreement.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Manager Termination Event shall have the meaning ascribed thereto in the Management Agreement.

Manager Termination Event has the meaning set forth in Section 6.1(a).

Examples of Manager Termination Event in a sentence

If the Notes have been declared to be immediately due and payable under Section 5.02 following an Event of Default or Manager Termination Event, as applicable, and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, elect to maintain possession of the Collateral.
Upon any such waiver, such Default, Event of Default or Manager Termination Event shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default, Event of Default or Manager Termination Event or impair any right consequent thereto.
In the case of any such waiver, the Issuer, the Indenture Trustee, the Holders of the Notes and the Hedge Counterparties shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other Default, Event of Default or Manager Termination Event or impair any right consequent thereto.
Unless provided by Issuer (or the Manager on its behalf) on an earlier date, if a Manager Termination Event occurs and is continuing and if it is actually known to a Responsible Officer of the Indenture Trustee, the Indenture Trustee shall mail to each Noteholder, each Hedge Counterparty and each Rating Agency notice of the Manager Termination Event within five (5) days after receipt of such actual knowledge.

More Definitions of Manager Termination Event

Manager Termination Event means the termination of the Management Agreement.

Manager Termination Event means any of the following events:

Manager Termination Event has the meaning specified in Section 20(b).

Manager Termination Event shall have the meaning set forth in Section 12(t) of this Agreement.

Manager Termination Event. “Potential Manager Termination Event,” or any substantially equivalent term, each as defined under a Permitted Securitization Financing, and such interpretation shall control and govern.

Manager Termination Event has the meaning set forth in Section 6.1(a). “Managing Standard”: means in accordance with standards that (a) are consistent with Current Practice or, to the extent of changed circumstances, practices, technologies, strategies or implementation methods, consistent with the standards as the Manager would implement or observe if the Managed Assets were owned by the Manager at such time; (b) will enable the Manager to comply in all material respects with all of the duties and obligations of each Securitization Entity under the applicable Transaction Documents, New Franchise Agreements, Contributed Franchise Agreements, New Development Agreements, Contributed Development Agreements and the other Managed Assets; (c) are in material compliance with all applicable Requirements of Law; and (d) with respect to the use and maintenance of each SPV Franchising Entity’s rights in and to the applicable Securitization IP, are consistent with the standards imposed by the applicable IP License Agreements. “Meineke Center”: means the operation of automotive maintenance and repair businesses at Branded Locations under the Meineke Brand. “Meineke Development Agreement”: means the current form of the Meineke development agreement. “Meineke Franchise Agreement:” means the current form of the Meineke Franchise Agreement. “Meineke Operations Manual”: means ▇▇▇▇▇▇▇’s confidential operations manual(s) (including training manuals), containing mandatory and suggested standards, specifications and operating procedures relating to the development and operation of Meineke Centers and other information relating to obligations under the Meineke Franchise Agreement. “Meineke Premises”: means the specific approved location granted to a Franchisee in the Econo Lube Franchise Agreement to operate a Meineke Center. “Meineke Services”: means services provided by the franchisor under each Meineke Franchise Agreement and Meineke Development Agreement, including: (a) guidance relating to the opening of a Meineke Center, including site selection guidelines and requirements, prototype plans for a Meineke Center, approved supplier lists, and the approval of the Meineke Premises, lease, sublease or purchase contract, and any modified plans and specifications for developing the Meineke Center; (b) initial training for the Franchisee or its operating partner; (c) retraining; (d) training on the general aspects of core products and services; (e) special training on various aspects of operating a Meineke ...

Manager Termination Event means the occurrence of an event specified in Section 7.1 of the Management Agreement. “Managing Standard” has the meaning set forth in the Management Agreement. “Master Issuer” means Planet Fitness Master Issuer LLC, a Delaware limited liability company, and its successors and assigns. “Material Adverse Effect” means (a) with respect to the Manager, a material adverse effect on (i) its results of operations, business, properties or financial condition, taken as a whole, (ii) its ability to conduct its business or to perform in any material respect its obligations under the Management Agreement or any other Related Document, (iii) the Collateral, taken as a whole, or (iv) the ability of the Securitization Entities to perform in any material respect their obligations under the Related Documents; (b) with respect to the Collateral, a material adverse effect with respect to the Collateral taken as a whole, the enforceability of the terms thereof, the likelihood of the payment of the amounts required with respect thereto in accordance with the terms thereof, the value thereof, the ownership thereof by the Securitization Entities (as applicable) or the Lien of the Trustee thereon; (c) with respect to the Securitization Entities, a materially adverse effect on the results of operations, business, properties or financial condition of the Securitization Entities, taken as a whole, or the ability of the Securitization Entities, taken as a whole, to conduct their business or to perform in any material respect their obligations under the Related Documents; or (d) with respect to any Person or matter, a material impairment to the rights of or benefits available to, taken as a whole, the Securitization Entities, the Trustee, or the Holders under any Related Document or the enforceability of any material provision of any Related Document; provided that where “Material Adverse Effect” is used without specific reference, such term will have the meaning specified in clauses (a) through (d), as the context may require. “Materials of Environmental Concern” means any gasoline or petroleum (including crude oil or any fraction thereof) or petroleum products (virgin or unused), polychlorinated biphenyls, urea-formaldehyde insulation, asbestos, pollutants, contaminants, radioactivity and any other materials or substances of any kind, whether or not any such material or substance is defined as hazardous or toxic under any Environmental Law, that is regulated pursuant to or could r...