Compliance with BKC Requirements. They will comply with all of BKC's then-current requirements with respect to Parent and/or the Franchisees in connection with any future offerings of debt or equity securities. Without limiting the foregoing, in addition to BKC's then-current requirements applicable to BKC's franchisees and their owners generally, the requirements applicable to Parent and the Franchisees will include the following: immediate written notice to BKC of any proposed securities offering (which notice in any event shall be no later than the time when a proposed letter of intent, memorandum of understanding or similar document is exchanged with any person respecting the underwriting or placement of securities of Parent or any of the Franchisees); submission, before or simultaneously with submission to the SEC, of registration statements and/or prospectuses to BKC for review in connection with trademark usage, inclusion of disclaimers, and otherwise; the execution by the Owners (as defined in the Franchise Agreements) and by the underwriters, if any, of certificates required by BKC; and the execution of an indemnity of BKC, its affiliates, agents, attorneys and employees, by the Parent, the Franchisees, and Owners, against any liability arising from or in connection with the offering. BKC's then-current general requirements for offerings of equity securities shall also apply to offerings of debt securities by the Parent and the Franchisees unless and until separate requirements are articulated by BKC for debt and equity securities offerings.
Compliance with BKC Requirements. In connection with any future offerings of debt or equity securities, Franchisee will comply with all of BKC's then current requirements with respect to such offerings. Without limiting the foregoing, in addition to BKC's then-current requirements applicable to BKC's franchisees and their principals (or owners) generally, the requirements applicable to Franchisee will include the following: immediate written notice to BKC of any proposed securities offering (which notice in any event shall be no later than the time when a proposed letter of intent, memorandum of understanding or similar document is exchanged with any person respecting the underwriting or placement of securities of the Franchisee); submission, before or simultaneously with submission to the U.S. Securities and Exchange Commission ("SEC"), (or similar governmental agency of any other jurisdiction in which securities are offered), of registration statements and/or prospectuses to BKC for review in connection with trademark usage, inclusion of disclaimers, and otherwise; the execution by the principals and by underwriters, if any, of certificates required by BKC, and the execution of the Franchisees and the Principals of an indemnity of BKC, its affiliates, agents, attorneys and employees against any liability arising from or in connection with the offering. Within ten (10) business days after BKC's receipt of a copy of a registration statement filed with the SEC and which BKC wishes to review, BKC shall furnish the Franchisee with its comments, if any, on the prospectus, provided that failure of BKC to comment shall not relieve the Franchisee of its obligations to include in every prospectus such disclaimers as are required by BKC. BKC's then-current general requirements for offerings of equity securities shall also apply to offerings of debt securities by the Franchisee unless and until separate requirements are articulated by BKC for debt and equity securities offerings.
