Franchisor Consent definition

Franchisor Consent means a Franchisor's Consent and Agreement acceptable to ------------------ the Agents and in substantially the form of one of the forms attached as Exhibit N or such other form as approved by the Agents in writing, executed by a Franchisor for a Hotel Property.
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Franchisor Consent as defined in Section 5.6.
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Franchisor Consent shall have the meaning set forth in Section 4.2(A)(7).
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Examples of Franchisor Consent in a sentence

  • Seller further acknowledges and agrees that Buyer shall have the right to setoff or recoup against amounts that may become due to Buyer under this Agreement any amounts now or hereafter owing by Buyer to Franchisor or its Affiliates under the Franchise Agreement as provided in the Franchisor Consent.

  • If the Franchisor Consent and/or the Franchisor Release have not been obtained by Purchaser by the Closing Date, as the same may be extended for up to two weeks by Purchaser, as provided in the definition of “Closing Date,” either party may terminate this Agreement by giving written notice of termination to the other on the Closing Date.

  • The parties acknowledge and agree that on or before the Effective Date, Franchisor has approved Buyer’s acquisition of the Restaurants pursuant to the terms hereof based upon the condition that the equity, ownership and operating structure of Buyer will be substantially the same as set forth in the consent letter issued by Franchisor to Buyer as of the Effective Date (“Franchisor Consent Letter”) and satisfaction of certain other conditions set forth in the Franchisor Consent Letter.

  • In addition, if the Hotel Property is subject to a ------------------- Franchise Agreement, no default by the franchisee under the Franchise Agreement exists, the Franchise Agreement remains in full force and effect and the Documentation Agent shall have received a Franchisor Consent.

  • The Franchisor Consent shall have been duly obtained, made or given and shall be in full force and effect and not subject to appeal.

  • In addition, if the Hotel Property is subject to a ------------------- Franchise Agreement, no default by the franchisee under the Franchise Agreement exists, the Franchise Agreement remains in full force and effect and the Administrative Agent shall have received a Franchisor Consent.

  • Within fifteen (15) days after the Effective Date, Purchaser shall (i) apply to Franchisor to obtain the Franchisor Consent and use commercially reasonable efforts to submit all information and documentation required by Franchisor in connection therewith; and (ii) thereafter, diligently pursue and use commercially reasonable efforts to obtain the Franchisor Consent prior to Closing.


More Definitions of Franchisor Consent

Franchisor Consent means either (a) the waiver by any Franchisor of any rights under the applicable Franchise Agreement arising as a result of, or the provision of such Franchisor’s consent to, the transactions contemplated by this Agreement and the Transaction Documents (including the assignment by the applicable Selling Subsidiary to the applicable Buyer of such Franchise Agreement), which waiver or consent is required to be obtained pursuant to the terms of such Franchise Agreement in order for such Franchise Agreement to remain in full force and effect from and after the Closing in the applicable Buyer’s (or its permitted Affiliate-assignee’s) name, and for the continued participation by the applicable Hotel in such Franchisor’s system of hotels following the Closing with such Buyer as the franchisee or (b) the entry into a new franchise agreement between the applicable Buyer (or its permitted Affiliate-assignee) and the Franchisor as required by the applicable Franchise Agreement (or as indicated on Annex E with respect to the Hotels commonly known as Hyatt Place Boston Medford, Courtyard Tucson Xxxxxxxx Center and Residence Inn Houston Westchase) in the event of the consummation of the transactions contemplated by this Agreement for the continued participation by the applicable Hotel in such Franchisor’s system of hotels following the Closing with such Buyer (or its permitted Affiliate-assignee) as the franchisee.
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Franchisor Consent. Shall have the meaning given to it in Section 10.09.
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Franchisor Consent means an agreement executed by the Franchisor in a form reasonably acceptable to Parent and the Company (i) consenting to the consummation of the transactions contemplated by and under this Agreement, (ii) waiving the application of restrictive covenants, confidentiality obligations, non-solicitation and non-hire obligations, in, and other similar or related obligations under, the Franchise Agreements as to investors in ICV Partners IV, L.P. and any Persons upstream from ICV Partners IV, L.P., and, as to Xxxxxxx Xxxxxx, for periods beginning two (2) years after the Closing Date, (iii) waiving all obligations of guaranty under the Franchise Agreements as to ICV Partners IV, L.P. and its Affiliates and any Persons upstream from ICV Partners IV, L.P., other than Parent and its subsidiaries, and as to Xxxxxxx Xxxxxx, (iv) waiving consent requirements with respect to Parent and its Affiliates acquiring the equity interests of any equity holder thereof which such equity holder is not then active in the management of Parent or its subsidiaries and (v) releasing all obligations under the Franchisor’s Area Development Agreement with AMC Wings, Inc. (as successor to MCA Enterprises, Inc.) dated July 18, 2003, as amended. (m) “GAAP” means the generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as may be approved by a significant segment of the accounting profession in the United States, in each case, as applicable, as of the time of the relevant financial statements referred to herein. -57-
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Franchisor Consent means either (a) the waiver by any Franchisor of any rights under the applicable Franchise Agreement arising as a result of, or the provision of such Franchisor’s consent to, the transactions contemplated by this Agreement and the Transaction Documents (including the assignment by the applicable Selling Subsidiary to Buyer of such Franchise Agreement), which waiver or consent is required to be obtained pursuant to the terms of such Franchise Agreement in order for such Franchise Agreement to remain in full force and effect from and after the Closing in Buyer’s (or its Affiliate’s) name, and for the continued participation by the applicable Hotel in such Franchisor’s system of hotels following the Closing with the Buyer as the franchisee, or (b) the entry into a new franchise agreement between Buyer (or its Affiliate) and the Franchisor as required by the applicable Franchise Agreement in the event of the consummation of the transactions contemplated by this Agreement for the continued participation by the applicable Hotel in such Franchisor’s system of hotels following the Closing with the Buyer (or its Affiliate) as the franchisee.
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Franchisor Consent means the approval of the Franchisor Consent Items by the applicable Consent Franchisor Party under the applicable Consent Franchise Agreement, as evidenced by the execution and delivery of the Franchisor Consent Documents.
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Related to Franchisor Consent

  • Development Consent means the consent granted to the Development Application for the Development and includes all modifications made under section 4.55 of the Act.

  • Required Consent has the meaning set forth in Section 4.4.

  • Governmental Consent means any notice to, registration, declaration or filing with, exemption or review by, or authorization, order, consent or approval of, any Governmental Entity, or the expiration or termination of any statutory waiting periods;

  • Third Party Consent means any Consent of a Person other than a Governmental Authority.

  • Consent Agreement means this Consent Agreement, duly signed and concluded between the Commission and the Respondent, as contemplated in section 40(1) of the Act.

  • Unanimous Consent Consent of Revolving Credit Lenders (other than Delinquent Revolving Credit Lenders) holding 100% of the Loan Commitments (other than Loan Commitments held by a Delinquent Revolving Credit Lender).

  • Franchise Agreement or “Agreement” shall mean this Agreement and any amendments or modifications hereto.

  • Lender Consent means any lender consent delivered by a Lender on the Closing Date in the form of Exhibit 4.1(a).

  • Franchisor means Marriott International, Inc.

  • CPUC Approval means a final and non-appealable order of the CPUC, without conditions or modifications unacceptable to the Parties, or either of them, which contains the following terms:

  • Consent to subcontract means the Contracting Officer’s written consent for the Contractor to enter into a particular subcontract.

  • New Franchise Agreement means the franchise license agreement to be entered into between Buyer and the Franchisor, granting to Buyer a franchise to operate the Hotel under the Brand on and after the Closing Date.

  • Initial approval means authorization to admit students and enter into contractual agreements for clinical facilities. It is granted only after an application has been submitted, reviewed and a survey visit made by the Board. No students shall be admitted to the program until the institution has received written notification that initial approval has been granted. Failure to comply will delay initial approval.

  • Existing Franchise Agreement means that certain franchise license agreement between the Seller and the Franchisor, granting to Seller a franchise to operate the Hotel under the Brand.

  • Special Approval means approval by a majority of the members of the Conflicts Committee.

  • Landlord Consent means a Landlord Consent substantially in the form of Exhibit G.

  • Express consent means the confirmed express consent you have provided to our processing of your personal data by actively accepting this Privacy Policy.

  • Substantial alteration means an alteration that has a major impact on the architectural features, characteristics, appearance, or integrity of a structure or lot. The term does not include routine maintenance that is reasonably necessary to maintain a dealership facility in attractive condition and does not include any changes to items protected by federal intellectual property rights.

  • Consent means written permission signed by a duly authorized officer or employee of the Commonwealth, provided that where the material facts have been disclosed, in writing, by prequalification, bid, proposal, or contractual terms, the Commonwealth shall be deemed to have consented by virtue of the execution of this contract.

  • Lease Assignment has the meaning set forth in Section 3.6(d).

  • Spousal Consent has the meaning set forth in Section 7.19.

  • Subfranchisor means a person who is granted a master franchise.

  • Landlord Access Agreement means a Landlord Access Agreement, substantially in the form of Exhibit G, or such other form as may reasonably be acceptable to the Administrative Agent.