Examples of Successor Addendum in a sentence
Upon receipt of a request from Dealer that one or more individuals be named in a Successor Addendum, Seller shall request those named to submit an application and to provide all personal and financial information that Seller may reasonably and customarily require in connection with the review of such applications.
Seller, upon the submission of all requested information, will determine whether to consent to a Successor Addendum naming such individuals by applying its criteria for considering the qualifications of Principal Owners or Executive Managers, as the case may be.
Dealer may, at any time, withdraw a nomination of a Successor even if Seller previously has qualified the candidate, or cancel an executed Successor Addendum by giving notice to Seller of such withdrawal at any time prior to the death or incapacity of any Principal Owner named in this Agreement.
Successor Addendum FRANCHISE LICENSE AGREEMENTTHIS FRANCHISE LICENSE AGREEMENT ( “Agreement ”) is made this dayof 20 , by and between MOSQUITO SQUAD FRANCHISINGCORPORATION, a Delaware corporation, located at 2924 Emerywood Parkway, Suite 101, Richmond, Virginia 23294 ( “Franchisor ”) and _ , located at ( “Franchisee ”).
To be named in the Successor Addendum, proposed Principal Owner or Executive Manager must (i) be employed by Dealer or a comparable automotive dealership as his principal place of employment; (ii) be already qualified as a Principal Owner or Executive Manager, as the case may be; and (iii) otherwise be acceptable to Seller as provided below.
Dealer acknowledges that owner(s) have the independent responsibility to take whatever actions are necessary to create the right in the proposed owner(s) to any transfer of ownership approved by Suzuki under the Successor Addendum.
However, the proposed General Manager or owner(s) will not be required to meet usual capital or financial capability requirements until after the Successor Addendum is implemented by death or incapacity, in which event the proposed person(s) will provide Suzuki within 30 days prior to the termination of this Agreement, including any extensions, such information as Suzuki requires.
The parties may execute a superseding Successor Addendum by agreement.
To be named in the Successor Addendum, a proposed Principal Owner or Executive Manager must (i) be employed by Dealer or a comparable automotive dealership as his principal place of employment; (ii) be already qualified as a Principal Owner or Executive Manager, as the case may be; and (iii) otherwise be acceptable to Seller as provided below.
Consideration of Successor Addendum ...............................