Examples of New Franchisee in a sentence
Senator Krier observed that this phenomenon happens a lot in his department.
If Franchisee enters into any new lease or extends any lease for tenancy of the New Franchisee Business extending beyond the Term, Franchisee acknowledges that Franchisee shall be doing so at its own risk.
Notwithstanding the preceding however, if the Company is a New Franchisee, then the amount payable under this Section 3.2.1 with respect to the first eighteen months of the Term shall not be, as to any calendar quarter, greater than the amount described in paragraph (b) above with respect to that quarter (even if the amount described in paragraph (a) above for such quarter would be greater the paragraph (b) amount for such quarter).
Gross Sales shall be defined as all revenue derived from the New Franchisee Business, at regular prices before any discounts or other allowance, as well as all income of any and every other kind related to the New Franchisee Business, System, or Proprietary Marks, the fair value of any non-monetary consideration received by Franchisee for any items or sales from the New Franchisee Business, and all proceeds of business interruption insurance policies for the New Franchisee Business.
Franchisor shall have the unconditional right to inspect the New Franchisee Business to assure quality control.
Franchisee hereby agrees to indemnify Franchisor, and all of Franchisor's agents, employees, and representatives against any and all damage, liability, and loss, as well as legal fees and costs incurred, however caused, as a result of the use, condition, construction, equipment, decorating, maintenance or operation of the New Franchisee Business.
The coverage shall begin as soon as Franchisee signs a lease for the New Franchisee Business.
Franchisor hereby grants, and Franchisee accepts under the terms and conditions of this Agreement, a limited, non-transferable, non-exclusive license to use the Proprietary Marks and the System to operate the New Franchisee Business in the Territory for the Term.
Upon closing of the Transaction, New Franchisee shall remain bound by the lawful terms and conditions of the Franchise.
However, if the Company is a New Franchisee, such $10,000 amount specified in this § 3.2.1.2 shall be reduced to $3,000 until but not including the first anniversary of the Effective Date and to $5,000 from the first anniversary of the Effective Date until but not including the second anniversary of the Effective Date; such amount shall be $10,000 from the second anniversary of the Effective Date until but not including the third anniversary of the Effective Date.