Wingstop Franchisor definition
Examples of Wingstop Franchisor in a sentence
Any copyrightable material included in such Manager-Developed IP shall, to the fullest extent allowed by law, be considered a “work made for hire” as that term is defined in Section 101 of the U.S. Copyright Act of 1976, as amended, and owned by Wingstop Franchisor.
The Manager acknowledges that Wingstop Franchisor shall own the Intellectual Property rights in all such data.
The Manager and each Sub-manager hereby grant Wingstop Franchisor and any Successor Manager a perpetual, non-exclusive, royalty-free, sublicensable, worldwide right and license to use any proprietary software controlled by the Manager or such Sub-manager, as applicable, for use in connection with operation of the Branded Restaurants.
All Securitization IP shall be owned solely by Wingstop Franchisor, and shall not be assigned, transferred or licensed out by Wingstop Franchisor to any other entity other than as permitted or provided under the Transaction Documents.
With respect to the IP Services, the Manager shall perform such IP Services in accordance with the Managing Standard and the Wingstop IP License Agreement, unless Wingstop Franchisor determines, in its sole discretion, that additional action is necessary or desirable in furtherance of the protection of the Securitization IP, in which case the Manager shall perform such IP Services and additional related services as are reasonably requested by Wingstop Franchisor.
Notwithstanding the foregoing, the Manager-Developed IP to be transferred to Wingstop Franchisor shall include rights to use third-party Intellectual Property only to the extent (but to the fullest extent) that such rights are assignable or sublicensable to Wingstop Franchisor.
As of the Closing Date, the Issuer has established with the Trustee an account in the name of Wingstop Franchisor for the benefit of the Senior Noteholders and the Trustee, solely in its capacity as trustee for the Senior Noteholders, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the foregoing Secured Parties (the “Senior Notes Interest Reserve Account”).
All applications to register Manager-Developed IP shall be filed in the name of Wingstop Franchisor.
Wingstop Franchisor shall have the right to monitor the Manager’s compliance with the foregoing and its performance of the IP Services and, in furtherance thereof, Manager shall provide Wingstop Franchisor, at its written request from time to time, with copies of Franchise Documents and other sublicenses, samples of products and materials bearing the Trademarks included in the Securitization IP used by Franchisees and other licensees and sublicensees.
The Manager may deposit or cause to be deposited to the Senior Notes Interest Reserve Account unrestricted funds as a contribution to Wingstop Franchisor, in each case to be credited in support of any franchisor liquidity or net worth requirement of any Governmental Authority applicable to Wingstop Franchisor, including in respect of eligibility for any exemptions applicable to franchisors or licensors of franchises.