Definition of Popeyes System

Popeyes System means the entire Popeyes restaurant system that PLK operates and/or licenses or contracts with others to operate now or in the future, as the same may evolve over time. PORTIONS OF THIS AGREEMENT MARKED BY "***" HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION

Examples of Popeyes System in a sentence

Diversified hereby agrees not to grant any third party the right to use any Popeyes Formula without the express written consent of AFC, such consent to be in AFCs sole discretion, except that Diversified may grant such rights without AFCs consent for the purpose of enabling a third party to manufacture or process Core Products (such as rights granted to a co-packer or a further processor) for use in the Popeyes System.
In the event Diversified needs but is unable on a temporary basis to immediately license the Popeyes Formula to a third party who is able to manufacture the Core Products at issue in sufficient quantity and quality so as not to cause a disruption in supply to the Popeyes System, then AFC, the Distributor(s), or the Franchisees may begin purchasing products substantially similar to the Core Products at issue from third parties.
Upon AFCs written request, Diversified shall further continue to supply the Core Products to the Popeyes System in accordance with and subject to the terms of this Agreement, at prices equal to those immediately in effect prior to termination or expiration plus 7.5%, for a period of time designated by AFC, up to but not exceeding six (6) months.
Notwithstanding the foregoing, for the full term of this Agreement, AFC shall exercise good faith in its development of any new products and agrees not to develop or sell or permit the Franchisees to sell any new products for the purpose of intentionally depleting the volume of Core Products sold by Diversified to the Popeyes System pursuant to this Agreement.