Franchisee Termination Notices. The Manager shall send to the Trustee, the Servicer and the Back-Up Manager, as soon as reasonably practicable but in no event later than fifteen (15) Business Days of the receipt thereof, a copy of any notices of termination of one or more Franchise Agreements sent by the Manager to any Franchisee unless (i) the related Franchised Restaurant(s) generated less than $500,000 in royalties during the immediately preceding fiscal year or (ii) the related Franchised Restaurant(s) continue to operate pursuant to an agreement between the related Franchise Entity or the Manager on its behalf and such Franchisee.
Appears in 5 contracts
Samples: Management Agreement (Dine Brands Global, Inc.), Management Agreement, Management Agreement (Dine Brands Global, Inc.)
Franchisee Termination Notices. The Manager shall send to the Trustee, the Servicer Trustee and the Back-Up Manager, as soon as reasonably practicable but in no event later than fifteen (15) Business Days of the receipt thereof, a copy of any notices of termination of one or more Franchise Agreements sent by the Manager to any Franchisee unless (i) the related Franchised Restaurant(s) generated less than $500,000 in royalties during the immediately preceding fiscal year or (ii) the related Franchised Restaurant(s) continue to operate pursuant to an agreement between the related Franchise Entity Guarantor or the Manager on its behalf and such Franchisee.
Appears in 5 contracts
Samples: Management Agreement (Twin Hospitality Group Inc.), Management Agreement (Fat Brands, Inc), Management Agreement (Fat Brands, Inc)
Franchisee Termination Notices. The Manager shall send to the Trustee, the Servicer Trustee and the Back-Up Manager, as soon as reasonably practicable but in no event later than fifteen (15) Business Days of the receipt thereof, a copy of any notices of termination of one or more Franchise Agreements sent by the Manager to any Franchisee unless (i) the related Franchised Restaurant(s) generated less than $500,000 in royalties during the immediately preceding fiscal year or (ii) the related Franchised Restaurant(s) continue to operate pursuant to an agreement between the related Franchise Entity or the Manager on its behalf and such Franchisee.
Appears in 2 contracts
Samples: Management Agreement (Fat Brands, Inc), Management Agreement (Fat Brands, Inc)
