Common use of Grant of a Successor Franchise Clause in Contracts

Grant of a Successor Franchise. You must give us a written notice of your desire and election to acquire a successor franchise during the year preceding the last year of the term of this Agreement; otherwise, you will have no right to acquire a successor franchise. We agree to give you written notice, not more than 180 days after receipt of your notice, of our requirements under Section 14.6(a)(iii) and the time period for satisfying those requirements, as well as a list of any deficiencies in your Store or the Premises, or in your operation of your Store that must be corrected, stating the actions you must take to correct the deficiencies and specifying the time period in which the deficiencies must be corrected. If, but only if, you have satisfied all of the conditions set forth in Section 14.6 by the date of expiration of this Agreement, we will issue the successor franchise. We agree, however, that if any of the time periods specified by us for compliance with the provisions of Section 14.6(a)(ii) or Section 14.6(a)(iii) extend beyond the expiration of this Agreement, the new franchise will be issued conditionally, subject to compliance with those requirements within the applicable time periods.

Grant of a Successor Franchise. You must give us a written notice of your desire and election to acquire a successor franchise during the year preceding the last year of the term of this Agreement; otherwise, you will have no right to acquire a successor franchise. We agree to give you written notice, not more than 180 1 80 days after receipt of your notice, of our requirements under Section 14.6(a)(iii12.6(a)(iii) of this Agreement and the time period for satisfying those requirements, as well as a list of any deficiencies in your the Licensed Store or the Premises, or in your operation of your the Licensed Store that must be corrected, stating the actions you must take to correct the deficiencies and specifying the time period in which the deficiencies must be corrected. If, but only if, you have satisfied all of the conditions set forth in Section 14.6 12.6 of this Agreement by the date of expiration of this Agreement, we will issue the successor franchise. We agree, however, that if any of the time periods specified by us for compliance with the provisions of Section 14.6(a)(ii12.6(a)(ii) or Section 14.6(a)(iii12.6(a)(iii) above extend beyond the expiration of this Agreement, the new franchise will be issued conditionally, subject to compliance with those requirements within the applicable time periods.