Common use of Additional Securitization Entity Clause in Contracts

Additional Securitization Entity. (a) The Master Issuer in accordance with and as permitted under the Related Documents, may form or cause to be formed Additional Securitization Entities without the consent of the Control Party; provided that such Additional Securitization Entity is a Delaware limited liability company or a Delaware corporation (so long as the use of such corporate form is reasonably satisfactory to the Control Party) and has adopted Charter Documents substantially similar to the Charter Documents of the Securitization Entities that are Delaware limited liability companies as in existence on the Closing Date; provided, further, that such Additional Securitization Entity holds Franchise Assets or real property assets or is being established in order to act as a franchisor with respect to future New Franchise Agreements or hold such future assets.

Additional Securitization Entity. (a) The Master Issuer in accordance with and as permitted under the Related Documents, may form or cause to be formed an Additional Securitization Entities Entity without the consent of the Control Party; provided that (i) such Additional Securitization Entity is a Delaware limited liability company or a Delaware corporation (so long as the use of such corporate form is reasonably satisfactory to the Control Party) and has adopted Charter Documents substantially similar to the Charter Documents of the Securitization Entities that are Delaware limited liability companies as in existence on the Closing Date; provided, further, that (ii) such Additional Securitization Entity holds Franchise Assets is wholly-owned, directly or real property indirectly, by the Master Issuer and (iii) the assets or is being established in order of such Additional Securitization Entity are managed by the Manager pursuant to act as a franchisor with respect to future New Franchise Agreements or hold such future assetsthe Management Agreement.

Additional Securitization Entity. (a) The Master Issuer in accordance with and as permitted under the Related Documents, may form or cause to be formed Additional Securitization Entities without the consent of the Control Party; provided that such Additional Securitization Entity is a Delaware limited liability company or a Delaware corporation (so long as the use of such corporate form is reasonably satisfactory to the Control Party) and has adopted Charter Documents substantially similar to the Charter Documents of the Securitization Entities that are Delaware limited liability companies as in existence on the Initial Closing Date; provided, further, that such Additional Securitization Entity holds Franchise Assets or real property assets or is being established in order to act as a franchisor with respect to future New Franchise Agreements or hold such future assets.