Exercise of Right of Additional Development Sample Clauses

Exercise of Right of Additional Development. If we deliver to you a written notice allowing you to undertake additional development in the Development Area, we also will deliver to you a copy of our then-current Franchise Disclosure Document, or its equivalent, as may be required by applicable law (“Disclosure Document”) and two copies of our then-current Area Development Agreement. “Then-current,” as used in this Agreement and applied to our Disclosure Document, Area Development Agreement and Franchise Agreement, will mean the form we then currently provide to prospective franchisees or area developers. The renewal of this Agreement will reflect your new development obligation consistent with our plan for additional development set forth in our notice to you. Within thirty (30) days after you receive the Disclosure Document and the new Area Development Agreement, but no sooner than immediately after any applicable waiting periods prescribed by law (“Disclosure Period”) have passed, you will execute two copies of the new Area Development Agreement described in the Disclosure Document and return them to us. If you have executed and returned the copies and have satisfied the conditions set forth below, we will execute the copies and return one fully executed copy to you.
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Exercise of Right of Additional Development. 4.5 Conditions to Exercise of Right of Additional Development
Sample 1
Exercise of Right of Additional Development. At the time Company delivers to Developer Company's written notice of its determination to undertake additional development in the Development Area, Company shall also deliver to Developer a copy of Company's then-current Offering Circular and two copies of the then-current area development agreement. The new area development agreement, which may vary substantially from this Agreement, will reflect Developer's new development obligation consistent with Company's plan for additional development set forth in its notice to Developer. Notwithstanding the foregoing or inconsistent terms of such area development agreement, the fees specified in Section 5.1 and 5.2 of this Agreement shall continue to apply. Within thirty (30) days after Developer's receipt of the Offering Circular and the new area development agreement, but no sooner than immediately after any applicable waiting periods prescribed by law have passed, Developer shall execute two copies of the area development agreement described in the Offering Circular and return them to Company. If Developer has so executed and returned the copies and has satisfied the conditions set forth in Section 4.5, Company will execute the copies and return one fully executed copy to Developer.
Sample 1
Exercise of Right of Additional Development. At the time Company delivers to Developer Company’s written notice of its determination to undertake additional development in the Development Area, Company shall also deliver to Developer a copy of Company’s Then-current Offering Circular and two copies of the Then-current area development agreement. The new area development agreement, which may vary substantially from this Agreement, will reflect Developer’s new development obligation consistent with Company’s plan for additional development set forth in its notice to Developer. Notwithstanding the foregoing or inconsistent terms of such area development agreement, (a) upon execution thereof, Developer shall pay Company a Development Area Fee for each “Xxxxxxxx Coffee” Coffeehouse required to be opened thereunder equal to the then-current Development Area Fee and (b) each Franchise Agreement signed pursuant thereto shall provide for an Initial Fee and Continuing Royalty at the rates specified in the Franchise Agreement. Within thirty (30) days after Developer’s receipt of the Offering Circular and the new area development agreement, but no sooner than immediately after any applicable waiting periods prescribed by Applicable Law have passed, Developer shall execute two copies of the area development agreement described in the Offering Circular and return them to Company together with the applicable Development Area Fee. If Developer has so executed and returned the copies and has satisfied the conditions set forth in Section 4.5, Company will execute the copies and return one fully executed copy to Developer.
Sample 1
Exercise of Right of Additional Development. (a) If Company determines the additional development obligation proposed by the Additional Development Notice is unacceptable in any respect(s), Company and Franchisee shall (subject to Section 4.4) negotiate during the following 60 days in an effort to reach a mutually agreeable additional development obligation. Each party may negotiate to protect its own interests as it deems appropriate in its discretion.
Sample 1
Exercise of Right of Additional Development. At the time Company delivers to Subfranchisor Company's written notice of its intention to undertake additional development in the Development Area, Company shall also deliver to Subfranchisor two copies of the then-current Master Franchise agreement. The new Master Franchise agreement, which may vary substantially from this Agreement, will reflect Subfranchisor's new development obligation consistent with Company's plan for additional development set forth in its notice to Subfranchisor. Within thirty (30) days after Subfranchisor's receipt of the new Master Franchise agreement, Subfranchisor shall execute two copies of the Master Franchise agreement and return them to Company. If Subfranchisor has so executed and returned the copies and has satisfied the conditions set forth in Section 4.5, Company will execute the copies and return one fully executed copy to Subfranchisor.
Sample 1

Related to Exercise of Right of Additional Development

  • Exercise of Rights No failure or delay on the part of any party to exercise any right, power or privilege under this Agreement and no course of dealing between the Seller and the Purchaser shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege under this Agreement preclude any other or further exercise thereof or the exercise of any other right, power or privilege. Except as set forth in Section 6(h) of this Agreement, the rights and remedies herein expressly provided are cumulative and not exclusive of any rights or remedies which any party would otherwise have pursuant to law or equity. No notice to or demand on any party in any case shall entitle such party to any other or further notice or demand in similar or other circumstances, or constitute a waiver of the right of either party to any other or further action in any circumstances without notice or demand.

  • Exercise of Right No failure or delay on the part of either Party in exercising any right, power, or privilege hereunder, and no course of dealing between the Parties, shall operate as a waiver thereof; nor shall any single or partial exercise of any right, power, or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power, or privilege.

  • Exercise of Rights Not Required Nothing contained in Section 4.03(a) shall require the Administrative Agent, any Lender or any of their Affiliates to exercise any such right or shall affect the right of such Persons to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Obligor.

  • Consideration for Grant of Rights (a) License Issue Fee and Patent Cost Reimbursement. COMPANY shall pay to M.I.T. on the EFFECTIVE DATE a license issue fee of [**] dollars ($[**]), and, in accordance with Section 6.3, shall reimburse M.I.T. for its actual expenses incurred as of the EFFECTIVE DATE in connection with obtaining the PATENT RIGHTS. These payments are nonrefundable.

  • Exercise of Rights; Separation of Rights (a) Subject to Sections 3.1, 5.1 and 5.10 and subject to adjustment as herein set forth, each Right will entitle the holder thereof, after the Separation Time and prior to the Expiration Time, to purchase, for the Exercise Price, one one-hundredth of a share of Preferred Stock.

  • Exercise of Rights and Remedies Except as otherwise provided herein, no delay of or omission in the exercise of any right, power or remedy accruing to any party as a result of any breach or default by any other party under this Agreement shall impair any such right, power or remedy, nor shall it be construed as a waiver of or acquiescence in any such breach or default, or of any similar breach or default occurring later; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default occurring before or after that waiver.

  • Exercise of Right of First Offer (i) Upon receipt of the Offering Notice, the Sponsor shall have until the end of the ROFO Notice Period to offer to purchase any or all of the New Equity Securities by delivering a written notice (a “ROFO Offer Notice”) to the Company stating that it offers to purchase such New Equity Securities on the terms specified in the Offering Notice. Any ROFO Offer Notice so delivered shall be binding upon delivery and irrevocable by the Sponsor.

  • Exercise of Right of First Refusal At any time within thirty (30) days after receipt of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all, but not less than all, of the Shares proposed to be transferred to any one or more of the Proposed Transferees, at the purchase price determined in accordance with subsection (c) below.

  • Initial Exercise Price; Exercise of Rights; Detachment of Rights (a) Subject to adjustment as herein set forth, each Right will entitle the holder thereof, after the Separation Time, to purchase, for the Exercise Price, or its U.S. Dollar Equivalent as at the Business Day immediately preceding the day of exercise of the Right, one Common Share. Notwithstanding any other provision of this Agreement, any Rights held by the Corporation or any of its Subsidiaries shall be void.

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