Franchise Approval Criteria Sample Clauses

Franchise Approval Criteria. With respect to each Restaurant to be established pursuant to this Agreement, the Developer must first apply for and obtain franchise approval ("Franchise Approval") from BKC through BKC's standard franchise approval procedures, including without limitation, submitting the then current form of Multiple Franchise Application, Management Commitment Form, Capitalization Plan, and Preliminary Agreement. Notwithstanding any provision in this Agreement to the contrary, the Developer understands and agrees that, as a condition to the granting of a Franchise Approval, the Developer must have met all of BKC's then current operational, financial, legal, and other approval criteria at the time of application for a franchise (the "Expansion Criteria"). BKC may, in its sole and absolute discretion, waive Developer's non-compliance with any one or all of the Expansion Criteria with regard to any Restaurants developed under this Agreement. Franchise Approval shall not be unreasonably withheld. If Franchise Approval is not den fed by BKC by no later shall twenty (20) business days from the date on which BKC receives a written application from Developer which complies in all respects to the requirements in this Section 4.2.1, then Franchise Approval shall be deemed to have been given to Developer. The terms "operational," "financial" and "legal" as used in this Agreement shall include without limitation the following:
Sample 1
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Franchise Approval Criteria. Notwithstanding any provision in this Agreement to the contrary, the Developer understands and agrees that, as a condition to the granting of a franchise to operate a Burger King Restaurant, Developer must obtain from BKC at the time of Application, and maintain throughout the Term, franchise approval ("Franchise Approval") by meeting, and continuing to meet, in the sole discretion of BKC, all of BKC's then current "operational," "financial," "legal," "development" and other criteria and conditions for development, including, but not limited to, any conditions included in BKC's approval letter (the "Franchise Approval Criteria"). The terms "operational," "financial," "legal" and "development" as used above and elsewhere in this Agreement shall include, without limitation, the following:
Sample 1

Related to Franchise Approval Criteria

  • Government Approval, Regulation, etc No authorization or approval or other action by, and no notice to or filing with, any governmental authority or regulatory body or other Person is required for the due execution, delivery or performance by the Borrower of this Amendment.

  • Authorization, Approval, etc No authorization, approval, or other action by, and no notice to or filing with, any governmental authority, regulatory body or any other Person is required either

  • APPROVAL OF PLANS AND SPECIFICATIONS The Plans and Specifications will conform to the requirements and conditions set out by applicable law or any effective restrictive covenant, and to all governmental authorities which exercise jurisdiction over the Leased Premises or the construction thereon.

  • Listing Approval The Shares to be delivered on the Closing Date or any Additional Closing Date, as the case may be, shall have been approved for listing on the Exchange, subject to official notice of issuance. If (i) any of the conditions specified in this Section 5 shall not have been fulfilled when and as provided in this Agreement, or (ii) any of the opinions and certificates mentioned above or elsewhere in this Agreement shall not be reasonably satisfactory in form and substance to the Representative and its counsel, this Agreement and all obligations of the Underwriters hereunder may be cancelled on, or at any time prior to, the Closing Date or any Additional Closing Date, as the case may be, by the Representative. Notice of such cancellation shall be given to the Company in writing or by telephone or facsimile confirmed in writing.

  • HSR Approval The applicable waiting period under the HSR Act shall have expired or been terminated.

  • Agency Approval The Servicer has been approved by FNMA or FHLMC and will remain approved as an "eligible seller/servicer" of conventional, residential mortgage loans as provided in FNMA or FHLMC guidelines and in good standing. The Servicer has not received any notification from FNMA or FHLMC that the Servicer is not in compliance with the requirements of the approved seller/servicer status or that such agencies have threatened the servicer with revocation of its approved seller/servicer status.

  • HSR Compliance The applicable waiting period under the HSR Act shall have expired or been terminated.

  • Board Approval; Vote Required The Company Board, by resolutions duly adopted by unanimous vote of those voting at a meeting duly called and held and not subsequently rescinded or modified in any way, or by unanimous written consent, has duly (a) determined that this Agreement and the Merger are fair to and in the best interests of the Company and its stockholders, (b) approved this Agreement and the Merger and declared their advisability, and (c) recommended that the stockholders of the Company approve and adopt this Agreement and approve the Merger and directed that this Agreement and the Transactions (including the Merger) be submitted for consideration by the Company’s stockholders. The Requisite Approval (the “Company Stockholder Approval”) is the only vote of the holders of any class or series of capital stock of the Company necessary to adopt this Agreement and approve the Transactions. The Written Consent, if executed and delivered, would qualify as the Company Stockholder Approval and no additional approval or vote from any holders of any class or series of capital stock of the Company would then be necessary to adopt this Agreement and approve the Transactions.

  • Vote/Approval Required No vote or consent of the holders of any class or series of capital stock of Parent is necessary to approve this Agreement or the Merger or the transactions contemplated hereby. The vote or consent of Parent as the sole stockholder of Merger Sub (which shall have occurred prior to the Effective Time) is the only vote or consent of the holders of any class or series of capital stock of Merger Sub necessary to approve this Agreement or the Merger or the transactions contemplated hereby.

  • No Regulatory Approval By the Company or Parent, if its Board of Directors so determines by a vote of a majority of the members of its entire Board, in the event any Requisite Regulatory Approval shall have been denied by final, nonappealable action by such Governmental Authority or a Governmental Authority shall have requested the permanent withdrawal of an application therefor.

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