Actions under the Transaction Documents. (a) Except as otherwise provided in Section 8.7(d), the Issuer will not, nor will permit any other Service Recipient to, take any action that would permit any Driven Brands Entity or any other Person party to a Transaction Document to have the right to refuse to perform any of its respective obligations under any of the Transaction Documents or that would result in the amendment, waiver, hypothecation, subordination, termination or discharge of, or impair the validity or effectiveness of, any Transaction Document.
(b) Except as otherwise provided in Section 8.7(d), the Issuer will not, nor will permit any other Service Recipient to, take any action which would permit any other Person party to a Franchise Document to have the right to refuse to perform any of its respective obligations under such Franchise Document or that would result in the amendment, waiver, hypothecation, subordination, termination or discharge of, or impair the validity or effectiveness of, such Franchise Document if such action when taken on behalf of any Service Recipient by the Manager would constitute a breach by the Manager of the Management Agreement.
(c) The Issuer will not, nor will permit any other Service Recipient to, without the prior written consent of the Control Party, exercise any right, remedy, power or privilege available to it with respect to any obligor under a Collateral Document or under any instrument or agreement included in the Collateral, take any action to compel or secure performance or observance by any such obligor of its obligations to the Issuer or such other Service Recipient or give any consent, request, notice, direction or approval with respect to any such obligor if such action when taken on behalf of any Service Recipient by the Manager would constitute a breach by the Manager of the Management Agreement.
(d) Except as otherwise provided in Section 13.1, the Issuer will not, nor will permit any other Service Recipient to, without the prior written consent of the Control Party, amend, modify, waive, supplement, terminate or surrender, or agree to any amendment, modification, waiver, supplement, termination or surrender of, the terms of any of the Transaction Documents.
(e) Upon the occurrence of a Manager Termination Event under the Management Agreement, (i) the Issuer will not, nor will permit any other Service Recipient to, without the prior written consent of the Control Party, terminate the Manager and appoint any successor Manager in accordance...
Actions under the Transaction Documents. (a) Except as otherwise provided in Section 8.7(d), no Co-Issuer will, nor will it permit any other Service Recipient to, take any action that would permit any Driven Brands Entity or any other Person party to a Transaction Document to have the right to refuse to perform any of its respective obligations under any of the Transaction Documents or that would result in the amendment, waiver, hypothecation, subordination, termination or discharge of, or impair the validity or effectiveness of, any Transaction Document.
Actions under the Transaction Documents
