Operating Principal definition

Operating Principal means the individual whose role is defined in Section 14.5 and who is identified in Exhibit B.

Operating Principal means the designated individual responsible for the day-to-day operation of the Restaurant. We must approve the Operating Principal and the Operating Principal must successfully complete our initial training program and all mandatory follow-up training programs. The Operating Principal must be a Principal Owner.

Operating Principal means the person designated by you and approved by us as meeting our qualifications who is responsible for overseeing the day-to-day operation of your business.

Examples of Operating Principal in a sentence

• Multi-Use Account Application - Page 2 Applicant Name Balance Sheet Date Cash, Checking, SavingsASSETS$ CCC LoansLIABILITIES$ Securities$ Operating Principal$ Accounts Receivable$ Accounts Payable$ Investment in Growing Crop$ Intermediate Debt Due in Next 12 Months$ Feed & Grain Inventory$ Long-Term Debt Due in Next 12 Months$ Market Livestock$ Leases$ Government Payments Receivable Other Current AssetsSpecify $ $ Misc.

• Corporate headquarters for many companies are often included in this sector, even if those firms have essential activities carried out at other facilities that are in one or more otherNotes: The U.S. Bureau of Labor Statistics classifies headquarters and support facilities of large corporations into nonfarm payroll sectors that may differ from those of the corporations’ main line of business.

• We may periodically conduct advanced training programs for you, your Operating Principal, your Managers, and/or your employees at our office or another location that we designate.

• We may waive a portion of the initial training program or alter the training schedule if we determine that you, your Operating Principal, or your Manager have sufficient prior experience or training or have previously been trained in one of our affiliate’s franchise systems.

• The Operating Principal will be the person with whom we will communicate on all major policy, financial, management and operational matters, and the only person from your Entity that we will recognize as having authority to communicate for and on your behalf and on behalf of your Entity.

More Definitions of Operating Principal

Operating Principal means , or another individual hereafter designated by Franchisee, and accepted by Franchisor (and until subsequently disapproved by Franchisor), to serve as the authorized representative of Franchisee, who shall hold 10% or more of the Equity of Franchisee, and who shall have the authority to act on behalf of Franchisee during the Term.

Operating Principal means an equity owner of FRANCHISEE who will manage the Franchised Business and who is authorized to act for FRANCHISEE and communicate with FRANCHISOR in relation to the Franchised Business.

Operating Principal means , or such other individual hereafter designated by Franchisee, and accepted by Company (and until subsequently disapproved by Company), to serve as the authorized representative of Franchisee, who Franchisee acknowledges and agrees shall act as Franchisee’s representative, who shall hold 10% or more of the Equity of Franchisee, and who shall have the authority to act on behalf of Franchisee during the Term.

Operating Principal means a natural person who: (i) owns directly or indirectly at least 51% Equity Interest in Franchisee and has the authority to direct the day-to-day operations of the Franchisee; (ii) has satisfactorily completed Franchisor’s Initial Training program at Franchisee’s expense; (iii) will thereafter devote full time and best efforts to the operation of the Franchised Business and have the authority and responsibility for the day-to-day management and operation of the Franchised Business and supervision of the Personnel; and (iv) serves as a primary point of contact on behalf of the Franchisee in communications with the Franchisor. The initial Operating Principal is identified in the Summary Page.

Operating Principal means a natural person who: (i) owns directly or indirectly

Operating Principal means the person designated as the Operating Principal on the cover page and who meets the criteria in Section 6.15 of this Agreement.

Operating Principal means , or such other individual hereafter designated by Franchisee, and accepted by Franchisor (and until subsequently disapproved by Franchisor), to serve as the authorized representative of Franchisee, who Franchisee acknowledges and agrees shall act as Franchisee’s representative, who shall hold 10% or more of the Equity of Franchisee, and who shall have the authority to act on behalf of Franchisee during the Term.