Repurchase of Assets. A franchisor shall not prohibit a franchisee from, or enforce a prohibition against a franchisee, engaging in any lawful business at any location after a termination or refusal to renew by a franchisor, unless it is one which relies on a substantially similar marketing program as the terminated or nonrenewed franchise or unless the franchisor offers in writing no later than ten business days before expiration of the franchise to purchase the assets of the franchised business for its fair market value as a going concern. The value of the assets shall not include the goodwill of the business attributable to the trademark licensed to the franchisee in the franchise agreement. The offer may be conditioned upon the ascertainment of a fair market value by an impartial appraiser. This section does not apply to assets of the franchised business which the franchisee did not purchase from the franchisor, or the agent of the franchisor. 92 Acts, ch 1134, §11; 95 Acts, ch 117, §6
Repurchase of Assets. Promptly following termination of this Agreement for any reason, the Management Company shall sell, transfer, convey, and assign to the Medical Group, and the Medical Group shall purchase, assume, and accept from the Management Company, at such price and upon such terms as may be agreed upon by the parties -- or, if the parties are unable to agree, at fair market value, determined in the manner set forth below -- all of the following items which are used in connection with the professional practice and related activities of the Medical Group and which, in the case of items (a), (b), (c) and (d), are physically located in any of the offices of the Medical Group, subject to any required consent from any third party having an interest therein but otherwise free and clear of any liens, claims or encumbrances; provided that any leased equipment or property shall be assigned to the Medical Group subject to the applicable lease agreement and any liens granted thereunder:
Repurchase of Assets. Within 30 days following the Rescission Effective Date the Management Company shall, subject to the prior receipt of any required landlord and third party consents, transfer, convey and assign to the Medical Group, and the Medical Group shall purchase, assume and accept from the Management Company, the property described in Section 13.5 above according to the provisions set forth in such Section.
Repurchase of Assets. The Purchased Assets, except for the Accounts Receivable, are subject to repurchase by the Seller from the Buyer upon termination of the Management Services Agreement in accordance with Section 13.5 of the Management Services Agreement.
Repurchase of Assets. Upon the termination of this Agreement prior to the end of the term of this Agreement (other than a termination by Practice pursuant to Section 6.2(b)(i), 6.2(b)(ii) or 6.2(b)(iii)), Manager shall have the additional right to require Practice to repurchase the FFE located at the Medical Offices, other items of personal property purchased or leased by Manager for specific use at the Medical Offices and all intangible assets of Manager which are related to the Practice, including but not limited to, leases, phones, the name "ENT Associates" and goodwill, from Manager at a repurchase price equal to $1,188,724.20 minus the product of (x) $118,872.42, and (y) the number of years of the term of the Agreement which have been completed and for which the management fee has been paid at the time of such termination. Exercise of this right by Manager shall be accomplished by written notice to Practice within thirty (30) days after the termination of this Agreement. Such notice of exercise shall also specify a time and date for a closing to be held to consummate such purchase and sale, such closing to be within ninety (90) days after the termination of this Agreement at the offices of Manager in New Jersey, or such other location as Manager shall designate in such written notice. At the closing Practice shall purchase such assets by delivery of cash or immediately available funds, against delivery of a bill xx sale and other assignments and appropriate instruments of conveyance from Manager transferring all its right, title or interest in or to same free and clear of all liens or security interests created by Manager or Parent; provided, however, Practice shall be entitled to receive a credit against the amount of the repurchase price for any outstanding amounts payable pursuant to the Debenture upon surrender of the Debenture to Manager for cancellation. The repurchase requirements contained in this paragraph are in addition to, and not in lieu of, any other rights and remedies that Manager may have under any other agreements.
Repurchase of Assets. (a) Upon termination of this Agreement pursuant to Section 10.3 or Section ------------ ------- 10.4 hereof, the Practice shall purchase from PHC, MidSouth, or an Affiliate of ---- MidSouth those assets owned by PHC, MidSouth, or an Affiliate of MidSouth that primarily relate to the operation of the Practice, including all FF&E and all real property owned by PHC, MidSouth, or an Affiliate of MidSouth and associated primarily with the operation of such Practice (the "Real Estate"), and the fair market value of accounts receivable on the date of termination, at a purchase price (the "Buyout Amount") equal to the greater of:
Repurchase of Assets. Within thirty (30) days after the Effective Date of the disengagement (that is, thirty
Repurchase of Assets. Within 30 days following the Effective Date of the rescission of this Agreement pursuant to the provisions of this Section 14.3, the Management Company shall sell, transfer, convey and assign to the Medical Group and the Medical Group shall purchase, assume and accept from the Management Company the property described and under the terms provided in Section 13.5 of this Agreement.
Repurchase of Assets. The Purchased Assets, except for the Accounts Receivable, are subject to repurchase by the Seller from the Buyer upon termination and/or recission of the Management Services Agreement in accordance with Sections 13.5, 14.1 and/or 14.3 of the Management Services Agreement. In addition, a portion of the Purchased Assets are subject to repurchase by a Disengaging Member (as defined in the Management Services Agreement) upon such Disengaging Member's disengagement from the Management Services Agreement in accordance with the provisions of Section 14.2 of the Management Services Agreement.
Repurchase of Assets. (c) If this Agreement is terminated during the Repurchase Period, except pursuant to Section 6.2(c)(iv) hereof, Metroplex shall purchase from Texas Sub all of the FFE for cash in an amount (the "Metroplex Buyout Amount") equal to the lesser of (i) $13,000,000, or (ii) the balance of the DVI Purchase Loans at the Termination Date (as hereafter defined), assuming the reduction of principal balance occurring between June 16, 1997, and the date of termination of this Agreement (the "Termination Date") pursuant to the amortization schedule attached hereto as Schedule 6.5(a). In no event, however, shall the Metroplex --------------- Buyout Amount be less than the fair market value of the FFE. Beginning on the seventh anniversary of the date of this Agreement, the Metroplex Buyout Amount shall equal the fair market value of the FFE.
