Examples of Radisson Franchise Agreement in a sentence
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Section 7.1.19, Section 7.1.20, Section 7.1.21, and Section 7.1.22, as applicable, will be deemed to be deleted from the Agreement for all purposes if Purchaser does not assume the Restaurant Management Agreement, Radisson Franchise Agreement, Existing Management Agreement or the Starbucks License Agreement, as applicable, at Closing.
The Radisson Franchise Agreement shall be terminated, as of the Closing Date.
Any prepaid, accrued or due and payable amounts, license fees, management fees (including, without limitation, the Contract Fee (as defined in the Existing Management Agreement) and the Management Fee (as defined in the Restaurant Management Agreement)), and reimbursables under the Existing Management Agreement, Restaurant Management Agreement, Starbucks License Agreement and the Radisson Franchise Agreement shall be prorated as of the Cut‑Off Time between Seller and Purchaser.
Seller shall not, without Purchaser’s prior written consent, amend the Radisson Franchise Agreement.
Purchaser shall indemnify Seller for any costs, expenses or other fees assessed by Radisson or repairs required by Radisson in connection with the termination of the Radisson Franchise Agreement (other than with respect to accrued and/or past-due license fees).
Except as set forth in Schedule 7.1.22, Seller has not received any written notice of any breach or default under the Radisson Franchise Agreement which has not been cured, and the Seller’s Knowledge, no event has occurred or circumstance exists which, with notice or the passage of time, would result in a breach or default of the Radisson Franchise Agreement by Seller or the other party thereunder.
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Purchaser shall receive a credit for all amounts accrued as of the Cut-Off Time but not yet due and payable under each of the Existing Management Agreement, Restaurant Management Agreement, Starbucks License Agreement and the Radisson Franchise Agreement.