New Asset Addition Date definition
New Asset Addition Date means, with respect to any New Asset, the earliest of (i) the date on which such New Asset is acquired by the applicable Securitization Entity, (ii) the later of (a) the date upon which the closing occurs under the applicable contract giving rise to such New Asset and (b) the date upon which all of the diligence contingencies, if any, in the contract for purchase of the applicable New Asset expire and the Securitization Entity acquiring such New Asset no longer has the right to cancel such contract and (iii) if such New Asset is a New Franchise Agreement, New Development Agreement, New Franchisee Note or New Equipment Lease, the date on which the related Securitization Entity begins receiving payments from the applicable Franchisee in respect of such New Asset and (iv) if such New Asset is a New Product Sourcing Asset, the date on which such New Product Sourcing Asset is acquired or becomes effective in accordance with the terms thereof.
New Asset Addition Date means, with respect to any New Asset, the earliest of (i) the date on which such New Asset is acquired by the applicable Securitization Entity, (ii) the later of (a) the date upon which the closing occurs under the applicable contract giving rise to such New Asset and (b) the date upon which all of the diligence contingencies, if any, in the contract for purchase of the applicable New Asset expire and the Securitization Entity acquiring such New Asset no longer has the right to cancel such contract and (iii) if such New Asset is a New Franchise Agreement or a New Development Agreement, the date on which Taco ▇▇▇▇ Franchisor begins receiving Franchisee Payment Amounts from the applicable Franchisee or counterparty to a New Development Agreement, as applicable, in respect of such New Asset.
New Asset Addition Date means, with respect to any New Asset, the earliest of (i) the date on which such New Asset is acquired by the applicable Securitization Entity, (ii) the later of (a) the date upon which the closing occurs under the applicable contract giving rise to such New Asset and (b) the date upon which all of the diligence contingencies, if any, in the contract for purchase of the applicable New Asset expire and the Securitization Entity acquiring such New Asset no longer has the right to cancel such contract and (iii) if such New Asset is a New Securitized Franchise Agreement, New Securitized Development Agreement, New Securitized Lease or New Securitized Franchisee Note, the date on which the related Securitization Entity begins receiving payments from the applicable Franchisee in respect of such New Asset.
Examples of New Asset Addition Date in a sentence
As of the applicable New Asset Addition Date, with respect to each New Company Restaurant acquired on such New Asset Addition Date, the Manager represents and warrants to the Securitization Entities, the Trustee and the Control Party, that the applicable Guarantor owns full legal and equitable title to each such Company Restaurant, free and clear of any Lien (other than Permitted Liens) and the addition of such Company Restaurant could not be reasonably expected to have a material adverse effect.
Approximately $4.5 million is attributed to net unrealized appreciation on our warrant investments, including approximately $9.4 million of net unrealized depreciation due to the reversal of prior period net unrealized appreciation upon being realized as a gain.
The Manager shall cause the Securitization Entity party to any New Foreign Franchise Arrangement that was entered into pursuant to SECTION 5.1(d)(ii)(B) either (i) to cause such New Foreign Franchise Arrangement to comply with the requirements of SECTION 5.1(d)(ii)(A) or (ii) to terminate such New Foreign Franchise Arrangement, in each case within 180 days of the New Asset Addition Date applicable to such New Foreign Franchise Arrangement.
As of each New Asset Addition Date, the Issuer will be duly qualified under applicable law in each jurisdiction in which it carries on the Business to act as a franchisor with respect to the New Assets.
With respect to any After-Acquired Securitization IP (excluding Excepted Securitization IP Assets) contributed by the Manager (indirectly, through the Holding Company Guarantor and the Master Issuer) to the Franchisor on the applicable New Asset Addition Date, as of such New Asset Addition Date the Manager has all necessary rights, title and interest in such After-Acquired Securitization IP to make such contribution.
More Definitions of New Asset Addition Date
New Asset Addition Date means with respect to any New Asset, the earliest of (i) the date on which such New Asset is acquired by the applicable Service Recipient, (ii) the later of (a) the date upon which the closing occurs under the applicable contract giving rise to such New Asset and (b) the date upon which all of the diligence contingencies, if any, in the contract for purchase of the applicable New Asset expire and the Service Recipient acquiring such New Asset no longer has the right to cancel such contract and (iii) if such New Asset is a New Franchise Agreement or a New Development Agreement, the date on which the related SPV Franchising Entity begins receiving Franchisee Payments from the applicable Franchisee in respect of such New Asset.
New Asset Addition Date means, with respect to any New Asset, the earliest of (i) the date on which such New Asset is acquired by the applicable Securitization Entity, (ii) the later of
New Asset Addition Date means, with respect to any New Asset, the earliest of (i) the date on which such New Asset is acquired by a Securitization Entity, (ii) the later of (a) the date upon which the closing occurs under the applicable contract giving rise to such New Asset and (b) the date upon which all of the diligence contingencies in the contract for purchase of the applicable New Asset expire and the Securitization Entity acquiring such New Asset no longer has the right to cancel such contract and (iii) the date on which a Securitization Entity begins receiving Continuing Franchise Fees or Franchisee Lease Payments with respect to such New Asset.
New Asset Addition Date means with respect to any New Asset, the earliest of (i) the date on which such New Asset is acquired by the applicable Securitization Entity, (ii) the later of (a) the date upon which the closing occurs under the applicable contract giving rise to such New Asset and (b) the date upon which all of the diligence contingencies, if any, in the contract for purchase of the applicable New Asset expire and the Securitization Entity acquiring such New Asset no longer has the right to cancel such contract and (iii) the date on which a Securitization Entity begins receiving Continuing Franchise Fees, Franchisee Lease Payments or fees under a Third-Party License Agreement with respect to such New Asset.
New Asset Addition Date means, with respect to any New Asset, the earliest of (i) the date on which such New Asset is acquired by the applicable Securitization Entity, (ii) the later of (a) the date upon which the closing occurs under the applicable contract giving rise to such New Asset and (b) the date upon which all of the diligence contingencies, if any, in the contract for purchase of the applicable New Asset expire and the Securitization Entity acquiring such New Asset no longer has the right to cancel such contract and (iii) if such New Asset is a New Franchise Agreement, New Area Development Agreement or Franchisee Note, the date on which the related Securitization Entity begins receiving payments from the applicable Franchisee in respect of such New Asset. “Notes” has the meaning set forth in the recitals hereto. “Offering Memorandum” means the final private placement memorandum, dated as of July 19, 2018, relating to the Notes. “Ongoing Practice” means, in respect of any action or inaction, practices, standards and procedures that are at least as favorable or beneficial to the Securitization Entities as the practices, standards and procedures of any Non-Securitization Entities as performed with respect to any new or changed circumstances arising after the Closing Date, such as any additional store 8 143946769_2
New Asset Addition Date means with respect to any New Asset, the earliest of (i) the date on which such New Asset is acquired by the applicable Service Recipient, (ii) the later of (a) the date upon which the closing occurs under the applicable contract giving rise to such New Asset and (b) the date upon which all of the diligence contingencies, if any, in the contract for purchase of the applicable New Asset expire and the Service Recipient acquiring such New Asset no longer has the right to cancel such contract and (iii) if such New Asset is a New Franchise Agreement or a New Development Agreement, the date on which the related SPV Franchising Entity begins receiving Franchisee Payments from the applicable Franchisee in respect of such New Asset. “New Assets”: means a New Franchise Agreement, a New Development Agreement, New Securitization-Owned Location Asset or any other Managed Asset contributed to, or otherwise entered into or acquired by, a Securitization Entity following the earliest applicable Series Closing Date, or such other date, when the related assets for such Driven Securitization Brand were contributed to the Securitization Entities pursuant to a Contribution Agreement. “New Company-Owned Location Assets”: means all assets contributed to, or otherwise entered into or acquired by, Take 5 Properties, Take 5 or Take 5 Oil following the Series 2018-1 Closing Date.
New Asset Addition Date means, with respect to any New Asset, the earliest of (i) the date on which such New Asset is acquired by the applicable Service Recipient, (ii) the later of (a) the date upon which the closing occurs under the applicable contract giving rise to such New Asset and (b) the date upon which all of the diligence contingencies, if any, in the contract for purchase of the applicable New Asset expire and the Service Recipient acquiring such New Asset no longer has the right to cancel such contract and (iii) if such New Asset is a New Franchise Agreement or a New Development Agreement, the date on which the related Canadian SPV Franchising Entity begins receiving Franchisee Payments from the applicable Franchisee in respect of such New Asset. “New Assets”: means a New Franchise Agreement, a New Development Agreement, New Securitization-Owned Location Asset or any other Managed Asset contributed to, or otherwise entered into or acquired by, the Canadian Securitization Entities after the Series 2020- 1 Closing Date. “Other Uniban Services”: means services provided by the franchisor under each Franchise Agreement for the Uniban Brands, other than the Docteur du Pare-Brise Brand, the Go Glass Brand, the Star Auto Glass Brand, the Uniglass Brand and the VitroPlus Brand, including: (a) orientation/training programs; (b) onsite visits in connection with completing training; (c) continuing consultation and assistance in the operation of any related facility as the Canadian Co-Issuer (or the Manager) deems appropriate; (d) periodic meetings to review operations, procedures, management practices and cost efficiencies; (e) additional training programs as the Canadian Co-Issuer may require; (f) periodic inspections of any related facility as the Canadian Co-Issuer (or the Manager) determines appropriate; (g) maintenance of a website for such Uniban Brand; (h) providing access to the Operations Manual for such Uniban Brand; and (i) administration of marketing fees and programs. “Parent”: means Driven Holdings, LLC, a Delaware limited liability company. “Permitted Holders”: means, at any time, each of (i)