Open Date definition
Examples of Open Date in a sentence
The initial term of this Agreement commences on the Effective Date (as defined in Section 15.R) and expires 20 years after the Restaurant opens for business or the Required Open Date, which ever happens first, unless this Agreement is sooner terminated in accordance with Paragraph 13.
If you are entering this Agreement pursuant to an Area Development Agreement executed between you and us, the Required Open Date is defined in the Development Schedule.
If you are not entering this Agreement pursuant to an Area Development Agreement, you and we agree that the Required Open Date is NA.
If such acceleration takes place prior to the Open Date, an amount equal to the Prohibited Prepayment Fee shall be added to balance of the Debt.
If such acceleration takes place prior to the Open Date, an amount equal to the Prohibited Prepayment Fee shall be added to the balance of the Debt.