Common use of Franchisee Termination Notices Clause in Contracts

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 following the date of the notice, a copy of any notices of termination of one or more Franchise Agreements sent by the Manager on behalf of Wingstop Franchisor to any Franchisee unless (i) the related Franchised Restaurant(s) generated less than $500,000 in Franchisee Royalty Payments during the immediately preceding fiscal year or (ii) the related Franchised Restaurant continues to operate pursuant to an agreement between Wingstop Franchisor or the Manager on its behalf and such Franchisee.

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) 15 Business Days following the date of the noticetransmittal thereof, a copy of any notices of termination of one or more Franchise Agreements sent by the Manager on behalf of Wingstop Franchisor any Securitization Entity to any Franchisee unless (i) the related Franchised Restaurant(s) generated less than $500,000 1,000,000 in Franchisee Royalty Payments during the immediately preceding fiscal year or (ii) the related Franchised Restaurant continues to operate pursuant to an agreement between Wingstop Franchisor any Securitization Entity or the Manager on its behalf and such Franchisee or any other Franchisee.

Franchisee Termination Notices. The Manager shall send to the Trustee, the Servicer and the Back-Up Back‑Up Manager, as soon as reasonably practicable but in no event later than fifteen (15) Business Days following the date of the noticereceipt thereof, a copy of any notices of termination of one or more Securitized Franchise Agreements sent by the Manager on behalf of Wingstop the Franchisor to any Franchisee unless (i) the related Securitized Franchised Restaurant(s) generated less than $500,000 in Franchisee Royalty Payments royalties during the immediately preceding fiscal year or (ii) the related Securitized Franchised Restaurant continues Restaurant(s) continue to operate pursuant to an agreement a New Securitized Franchise Agreement between Wingstop the Franchisor or the Manager on its behalf and such Franchisee.