Termination of the Franchise Agreement Sample Clauses

Termination of the Franchise Agreement. The Parties acknowledge and agree that, unless the Secretary of State exercises the Secretary of State’s right to terminate this XXXX pursuant to Clause 3.2, the provisions of Schedule 2 (Termination of the Franchise Agreement) shall have effect between them and each Party shall comply with its respective obligations thereunder.
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Termination of the Franchise Agreement. Franchisor shall have the right to terminate this Agreement immediately upon termination of the Franchise Agreement by delivering written notice to Owner.
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Termination of the Franchise Agreement. The Company may terminate this Agreement only for good cause.
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Termination of the Franchise Agreement. Lessee reserves and shall have the absolute right in its sole and unfettered discretion, at any time and without the consent or approval of (but with notice to) Operator, to terminate the Franchise Agreement, provided, however, that (i) Lessee shall have no such right in order to establish its own independent operations, such as an operation without a franchise or license or in its own hotel name; (ii) in the event of such a termination by Lessee, Operator shall have the right of approval (which right shall be reasonably exercised) of any new franchise or license for the Hotel; and (iii) if Lessee’s decision to terminate the License Agreement is made without the consent of Operator, then the provisions of Section 16.05(a) and (b) of this Agreement shall no longer apply.
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Termination of the Franchise Agreement. Owner reserves and shall have sole discretion, at any time to terminate the Franchise Agreement. While Owner may consult with Operator regarding any new franchise or license for the Hotel, the decision of whether to enter into a new franchise or license, the selection of the new franchisor and brand and the terms of the new Franchise Agreement shall be solely those of Owner. Owner will notify Operator promptly following the selection of a new franchisor and brand for the Hotel, and except as hereinafter provided, Operator may elect to terminate this Agreement, effective on the date of the actual change in the franchise if a new franchise is being entered into for the Hotel or ninety (90) days after termination of the existing Franchise Agreement if Owner has notified Operator that it will not enter into a new Franchise Agreement for the Hotel. Operator shall not be entitled to a termination fee or other compensation as a result of termination of this Agreement pursuant to this Article 27.
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Termination of the Franchise Agreement. Subject to the following, the Franchise Agreement and all rights and obligations thereunder are terminated by mutual agreement of the parties as of the Effective Date.
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Termination of the Franchise Agreement. If the Franchise Agreement between Franchisor and Tenant is terminated for any reason during the term of the Lease or any extension thereof, Tenant, upon the written request of Franchisor, shall assign to Franchisor all of its rights, title and interest in and to the Lease, and Franchisor or any affiliate designated by Franchisor may agree to assume from the date of assignment all of Tenant’s obligations remaining under the Lease, and may assume Xxxxxx’s occupancy rights, and the right to sublease the premises, for the remainder of the term of the Lease. If Franchisor elects to accept the assignment of the Lease from Tenant, it shall give Tenant and Landlord written notice of its election to acquire the leasehold interest. Landlord hereby consents to the assignment of the Lease from Tenant to Franchisor, and shall not charge any fee or accelerate rent under the Lease. Alternatively, in the event of a termination of the Franchise Agreement, Franchisor may elect to enter into a new lease with Landlord containing terms and conditions no less favorable than the Lease. Upon Xxxxxxxx’s receipt of written notice from Franchisor advising Landlord that Franchisor elects to enter into a new lease, Landlord shall execute and deliver such new lease to Franchisor for its acceptance. Landlord and Tenant shall deliver possession of the Leased Premises to Franchisor, free and clear of all rights of Tenant or third parties, subject to Franchisor executing an acceptance of the assignment of Lease or new lease, as the case may be.
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Termination of the Franchise Agreement. Subject to the satisfaction of the conditions set forth in Section 2 of this Agreement, the Franchise Agreement shall be terminated effective as of date of the closing of the Franchise Location and shall be of no further force and effect, except with respect to provisions or covenants of DFW and its employees, officers, directors, shareholders and agents that, by their terms, were intended, either expressly or by reasonable implication, to survive termination of the Franchise Agreement. The closing of the Franchise Location shall occur on ______________, 1997 (the "Date of Closure").
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Termination of the Franchise Agreement. If the Franchise Agreement between the Company and the Tenant is terminated for any reason during the term of the Lease or any extension thereof, the Tenant, upon the written request of the Company, shall assign to the Company all of its right, title and interest in and to the Lease. If the Company elects to accept the assignment of the Lease from the Tenant, it shall give the Tenant and the Landlord written notice of its election to acquire the leasehold interest. The Landlord hereby consents to the assignment of the Lease from the Tenant to the Company, subject to the Tenant’s and/or the Company’s curing any defaults of the Tenant under the Lease before the Company takes possession of the Leased Premises. Alternatively, in the event of a termination of the Franchise Agreement, the Company may elect to enter into a new lease with the Landlord containing terms and conditions no less favorable than the Lease. Upon the Landlord’s receipt of written notice from the Company advising the Landlord that the Company elects to enter into a new lease, the Landlord shall execute and deliver such new lease to the Company for its acceptance. The Landlord and the Tenant shall deliver possession of the Leased Premises to the Company, free and clear of all rights of the Tenant or third parties, subject to the Company’s curing any defaults of the Tenant, under the Lease, and executing an acceptance of the assignment of Lease or the new lease, as the case may be. The Company shall indemnify, defend and hold the Landlord harmless from any attempt to terminate the Lease or dispossess the Tenant from the Leased Premises based upon a termination of the Franchise Agreement.
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Related to Termination of the Franchise Agreement

  • Franchise Agreement (a) Except as provided in this Agreement, the Properties shall at all times be operated in accordance with the terms and conditions of the Franchise Agreements. Borrower shall, or shall cause Operating Lessee to cause Manager to, (i) pay all sums required to be paid by Borrower, Operating Lessee and/or Manager under the Franchise Agreements, (ii) diligently perform, observe and enforce all of the terms, covenants and conditions of the Franchise Agreements, (iii) promptly deliver to Lender a copy of any written notice to Borrower or Operating Lessee of any default by Borrower, Operating Lessee and/or Manager under the Franchise Agreements and notify Lender of any material default under the Franchise Agreements of which it is aware, (iv) promptly deliver to Lender a copy of any written notice to Franchisor of any default by Franchisor under the Franchise Agreements, (v) promptly deliver to Lender a copy of each financial statement, business plan, capital expenditure plan, notice of non-performance, report and estimate (a) received by Borrower or Operating Lessee under the Franchise Agreements and (b) required to be delivered by Borrower, Operating Lessee and/or Manager to Franchisor under the Franchise Agreements, (vi) complete all work required under any PIP on or prior to the Outside Date, (vii) not modify or amend the Franchise Agreements to the extent such modification or amendment could reasonably be expected to have a Material Adverse Effect, and (viii) except as provided in clause (b) below not terminate, cancel, or replace the Franchise Agreements, nor replace the Franchisor, nor waive or release any of its rights and remedies under the Franchise Agreements in any material respect, without Lender’s prior written consent. Each request by Borrower for approval and consent by Lender pursuant to this Section 5.25 shall be in writing and contain a legend in capitalized bold letters on the top of the cover page stating: “LENDER’S RESPONSE IS REQUESTED WITHIN TEN (10) BUSINESS DAYS. LENDER’S FAILURE TO RESPOND WITHIN SUCH TIME PERIOD SHALL RESULT IN LENDER’S CONSENT BEING DEEMED TO HAVE BEEN GRANTED” and Borrower shall include the following documentation with such request all materials reasonably necessary in order for Lender to evaluate such matter. In the event that Lender fails to grant or withhold its approval and consent to such matter within such ten (10) Business Day period (and, in the case of a withholding of consent, stating the grounds therefor in reasonable detail), then, so long as no Event of Default is continuing, Lender’s approval and consent shall be deemed to have been granted. There shall be no administrative or approval fee in connection with this Section 5.25(a), but Borrower shall pay any out-of-pocket costs and expenses incurred by Lender.

  • Termination of the Lease In terminating the Lease, the following procedures shall be followed by the Authority and Tenant:

  • Termination of the Contract 11.1. The Coordinator may terminate the contract if the Co-beneficiary has inadequately discharged or failed to discharge any of the contractual obligations, insofar as this is not due to force majeure, after notification of the Co-beneficiary by registered letter has remained without effect for one month.

  • Franchise Agreements The Franchise Agreements are in full force and effect and there is no default thereunder by any party thereto and no circumstance, condition or event has occurred that, with the passage of time and/or giving of notice, would constitute a default thereunder or entitle Franchisor to terminate any Franchise Agreement. All franchise fees, reservation fees, royalties, marketing fees and other sums and payable due under the Franchise Agreements have been paid in full or are current. A true, correct and complete copy of the Franchise Agreements, together with all amendments and ancillary agreements or side letters related thereto, have been delivered to Lender. The Loan, and the encumbrance of the Properties as security for the Loan, will not cause Borrower to violate any financial covenants contained in any Franchise Agreement.

  • Termination of Master Lease If the Sublessor terminates their tenancy in the Premises under the Master Lease, the Sublessee agrees that if the Master Lease is terminated for any reason, this Agreement will terminate as of the same date.

  • Termination of Management Agreement Evidence of the termination of any and all management agreements affecting the Property, effective as of the Closing Date, and duly executed by Seller and the property manager.

  • Termination of the Escrow Agreement This Agreement, except for Sections 7 and 11 hereof, which shall continue in effect, shall terminate upon written notice from the Company to the Escrow Agent. Unless otherwise provided, final termination of this Agreement shall occur on the date that all funds held in the Escrow Account are distributed either (a) to the Company or to subscribers and the Company has informed the Escrow Agent in writing to close the Escrow Account or (b) to a successor escrow agent upon written instructions from the Company.

  • Termination of Consulting Agreement As of the Effective Date, the Consulting Agreement is hereby terminated and is of no further force or effect.

  • Management Agreement The Management Agreement is in full force and effect and there is no default thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

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