Common use of DEATH OR INCAPACITY OF FRANCHISEE Clause in Contracts

DEATH OR INCAPACITY OF FRANCHISEE. A. In the event of the death or incapacity of an individual Franchisee, or any partner of a Franchisee which is a partnership or any shareholder owning fifty percent (50%) of more of the capital stock of a Franchisee which is a corporation, the heirs, beneficiaries, devisees, or legal representatives of said individual, partner or shareholders shall, within one hundred eighty (180) days of such event: 1. Apply to Franchisor for the right to continue to operate the franchise for the duration of the term of this Agreement and any renewals hereof, which right shall be granted upon the fulfillment of all of the conditions set forth in Paragraph XVII.B.2.b of this Agreement (except that no transfer fee shall be required); or 2. Sell, assign, transfer, or convey Franchisee's interest in compliance with the provisions of Paragraphs XVIII.B. and XX. of this Agreement; provided, however, in the event a proper and timely application for the right to continue to operate has been made and rejected, the one hundred eighty (180) days to sell, assign, transfer or convey shall be computed from the date of said rejection. For purposes of this Paragraph, Franchisor's silence on an application through the one hundred and eighty (180) days following the event of death or incapacity shall be deemed a rejection made on the last day of such period. B. In the event of the death or incapacity of an individual Franchisee, or any partner or shareholder of a Franchisee which is a partnership or corporation, where the aforesaid provisions of Paragraph XVIII have not been fulfilled within the time provided, all rights franchised to Franchisee under this Agreement shall, at the option of Franchisor, terminate forthwith and Franchisor shall have the option to purchase the assets of Franchised Business in accordance with Paragraph XVII.J. of this Agreement.

DEATH OR INCAPACITY OF FRANCHISEE. A. In the event of the death or incapacity of an individual Franchisee, or any partner of a Franchisee which is a partnership or any shareholder owning fifty percent (50%) of or more of the capital stock of a Franchisee which is a corporation, the heirs, beneficiaries, devisees, devisees or legal representatives representative of said individual, partner or shareholders shall, within one hundred eighty (180) days of such event: 1. Apply to Franchisor for the right to continue to operate the franchise for the duration of the term of this Agreement and any renewals hereof, which right shall be granted upon the fulfillment of all of the conditions set forth in Paragraph XVII.B.2.b XVIII.B.2.b. of this Agreement (except that no transfer fee shall be required); or 2. Sell, assign, transfer, transfer or convey Franchisee's interest in compliance with the provisions of Paragraphs XVIII.B. and XX. of this Agreement; provided, however, in the event a proper and timely application for the right to continue to operate has been made and rejected, the one hundred eighty (180) days to sell, assign, transfer or convey shall be computed from the date of said rejection. For purposes of this ParagraphParagraph XIX., Franchisor's silence on an application made pursuant to Paragraph XIX.B. through the one hundred and eighty (180) days following the event of death or incapacity shall be deemed a rejection made on the last day of such period. B. In the event of the death or incapacity of an individual Franchiseefranchisee, or any partner or shareholder of a Franchisee which is a partnership or corporation, where the aforesaid provisions of Paragraph XVIII XVIII. have not been fulfilled within the time provided, all rights franchised granted to Franchisee under this Agreement shall, at the option of Franchisor, terminate forthwith and Franchisor shall have the option to purchase the assets of Franchised Business in accordance with Paragraph XVII.J. herein. C. For purposes of this Agreement, "incapacity" shall be defined as the inability of Franchisee to operate or oversee the operation of the Franchised Business on a regular basis by reason of any continuing physical, mental or emotional incapacity, chemical dependency or other limitation. Any dispute as to the existence of an incapacity as defined herein shall be resolved by majority decision of three (3) licensed medical physicians practicing in the MSA in which the Franchised Business is located, with each party selecting one (1) medical physician and the two (2) medical physicians so designated selecting the third medical physician. The determination of the majority of the three (3) medical physicians shall be binding upon the parties and all costs of making said determination shall be borne by the party against whom it is made.

DEATH OR INCAPACITY OF FRANCHISEE. A. 22.1 In the event of the death or incapacity of an individual Franchisee, or any partner of a Franchisee which is a partnership or any shareholder stockholder owning fifty percent (50%) of or more of the capital stock of a Franchisee which is a corporation, the heirs, beneficiaries, devisees, or legal representatives of said individual, partner or shareholders shallstockholders shall notify Franchisor within fifteen (15) days of death or incapacity, and, within one hundred eighty (180) days of such event: 1. A. Apply to Franchisor for the right to continue to operate the franchise Franchised Business for the duration of the term of this Agreement and any renewals hereofAgreement, which right shall be granted upon the fulfillment of all of the conditions set forth in Paragraph XVII.B.2.b Subparagraph 21.2. of this Agreement (except that no transfer fee shall be required); or 2. B. Sell, assign, transfer, or convey Franchisee's interest in compliance with the provisions of Paragraphs XVIII.B. and XX. Subparagraph 21.2 of this Agreement; provided, however, in the event a proper and timely application for the right to continue to operate has been made and rejected, the one hundred eighty (180) days to sell, assign, transfer or convey shall be computed from the date of said rejection. For purposes of this Paragraph, Franchisor's silence on an application made pursuant to Subparagraph 21.2 through the one hundred and eighty (180) days following the event of death or incapacity shall be deemed a rejection made on the last day of such period. B. 22.2 In the event of the death or incapacity of an individual Franchisee, or any partner or shareholder stockholder of a Franchisee which is a partnership or corporation, where the aforesaid provisions of Paragraph XVIII XXI are applicable and have not been fulfilled within the time provided, all rights franchised licensed to Franchisee under this Agreement shall, at the option of Franchisor, terminate forthwith and Franchisor shall have the option to purchase the assets of Franchised Business in accordance with Paragraph XVII.J. of this Agreement.