Common use of Operation Upon Death or Disability Clause in Contracts

Operation Upon Death or Disability. If, upon your death or disability or the death or disability of the Managing Owner or the owner of a controlling interest in you, the FACILITY is not being managed by a trained manager, your or that owner's executor, administrator, conservator, guardian or other personal representative must within a reasonable time, not to exceed fifteen (15) days from the date of death or disability, appoint a manager to operate the FACILITY. The manager must complete training at your expense. Pending the appointment of a manager as provided above or if, in our judgment, the FACILITY is not being managed properly any time after your death or disability or after the death or disability of the Managing Owner or the owner of a controlling interest in you, we may, but need not, assume the FACILITY's management. All funds from the FACILITY's operation during the period we have assumed its management will be kept in a separate account, and all of the FACILITY's expenses will be charged to this account. We may charge you Two Hundred and Fifty Dollars ($250.00) per day, plus our direct out-of-pocket costs and expenses, if we assume the FACILITY's management under this subparagraph. Operation of the FACILITY during any period will be on your behalf, but we only have a duty to utilize our reasonable efforts and will not be liable to you or your owners for any debts, losses or obligations the FACILITY incurs or to any of your creditors for any products, materials, supplies or services the FACILITY purchases during any period we have assumed its management.

Appears in 1 contract

Samples: License Agreement (MRS Fields Financing Co Inc)

AutoNDA by SimpleDocs

Operation Upon Death or Disability. If, upon your death or disability or the death or disability of the Managing Owner or the owner of a controlling interest in you, the FACILITY WOB Store is not being managed by a trained manager, your or that such owner's executor, administrator, conservator, guardian or other personal representative must within a reasonable time, not to exceed fifteen (15) 15 days from the date of death or disability, appoint a manager to operate the FACILITYWOB Store. The Such manager must will be required to complete training at your expense. Pending the appointment of a manager as provided above or if, in our judgment, the FACILITY WOB Store is not being managed properly any time after your death or disability or after the death or disability of the Managing Owner or the owner of a controlling interest in you, we mayhave the right, but need notnot the obligation, assume to appoint a manager for the FACILITY's managementWOB Store. All funds from the FACILITY's operation of the WOB Store during the period we have assumed its management by our appointed manager will be kept in a separate account, and all expenses of the FACILITY's WOB Store, including compensation, other costs and travel and living expenses of our manager, will be charged to this account. We may also have the right to charge you Two Hundred a reasonable management fee (in addition to the Royalty and Fifty Dollars ($250.00) per day, plus our direct out-of-pocket costs Marketing and expenses, if we assume the FACILITY's management Development Fund contributions payable under this subparagraphAgreement) during the period that our appointed manager manages the WOB Store. Operation of the FACILITY WOB Store during any such period will be on your behalf, but provided that we only have a duty to utilize our reasonable best efforts and will not be liable to you or your owners for any debts, losses or obligations incurred by the FACILITY incurs WOB Store or to any of your creditors for any products, materials, supplies or services the FACILITY WOB Store purchases during any period we have assumed its managementit is managed by our appointed manager.

Appears in 1 contract

Samples: Franchise Agreement (Pacific Software, Inc.)

Operation Upon Death or Disability. If, upon your death or disability or the death or disability of the Managing Owner or the owner of a controlling interest in you, the FACILITY STORE is not being managed by a trained managermanaging owner, your or that such deceased or disabled owner's executor, administrator, conservator, guardian or other personal representative must within a reasonable time, not to exceed fifteen thirty (1530) days from the date of death or disability, appoint a manager to operate the FACILITYSTORE. The Such manager must will be required to complete training at your expense. Pending the appointment and training of a manager as provided above or if, in our judgment, the FACILITY STORE is not being managed properly any time after your death or disability disability, or after the death or disability of the Managing Owner or the owner of a controlling interest in you, we mayhave the right, but need notnot the obligation, assume to appoint a manager for the FACILITY's managementSTORE. All funds from the FACILITY's operation of the STORE during the period we have assumed its management by our appointed manager will be kept in a separate account, and all expenses of the FACILITY's STORE, including compensation, other costs and travel and living expenses of our manager, will be charged to this account. We may also have the right to charge you Two Hundred a reasonable management fee (in addition to the Royalties and Fifty Dollars ($250.00) per day, plus our direct out-of-pocket costs Marketing and expenses, if we assume the FACILITY's management Promotion Fund contributions payable under this subparagraphAgreement) during the period that our appointed manager manages the STORE. Operation of the FACILITY STORE during any such period will be on your behalf, but provided that we only have a duty to utilize our reasonable best efforts and will not be liable to you or your owners for any debts, losses or obligations incurred by the FACILITY incurs STORE or to any of your creditors suppliers for any products, materials, supplies or services the FACILITY STORE purchases during any period we have assumed its management.it is managed by our appointed manager. <PAGE> 31

Appears in 1 contract

Samples: Franchise Agreement

AutoNDA by SimpleDocs

Operation Upon Death or Disability. If, upon your death or disability or the death or disability of the Managing Owner or the owner of a controlling interest in you, the FACILITY Restaurant is not being managed by a trained manager, your or that such owner's executor, administrator, conservator, guardian or other personal representative must within a reasonable time, not to exceed fifteen (15) 15 days from the date of death or disability, appoint a manager to operate the FACILITYRestaurant. The Such manager must will be required to complete training at your expense. Pending the appointment of a manager as provided above or if, in our judgment, the FACILITY Restaurant is not being managed properly any time after your death or disability or after the death or disability of the Managing Owner or the owner of a controlling interest in you, we mayhave the right, but need notnot the obligation, assume to appoint a manager for the FACILITY's managementRestaurant. All funds from the FACILITY's operation of the Restaurant during the period we have assumed its management by our appointed manager will be kept in a separate account, and all expenses of the FACILITY's Restaurant, including compensation, other costs and travel and living expenses of our manager, will be charged to this account. We may also have the right to charge you Two Hundred a reasonable management fee (in addition to the Royalty and Fifty Dollars ($250.00) per day, plus our direct out-of-pocket costs and expenses, if we assume the FACILITY's management Advertising Fee payable under this subparagraphAgreement) during the period that our appointed manager manages the Restaurant. Operation of the FACILITY Restaurant during any such period will be on your behalf, but provided that we only have a duty to utilize our reasonable best efforts and will not be liable to you or your owners for any debts, losses or obligations incurred by the FACILITY incurs Restaurant or to any of your creditors for any products, materials, supplies or services the FACILITY Restaurant purchases during any period we have assumed its managementit is managed by our appointed manager.

Appears in 1 contract

Samples: Franchise Agreement (P D C Innovative Industries Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!