Common use of Owner Becomes a Competitor Clause in Contracts

Owner Becomes a Competitor. If Owner or any of its affiliates becomes a Competitor, Owner shall so notify Franchisor providing the data required pursuant to Section 5.A., or if Franchisor otherwise determines that Owner or any of its affiliates has become a Competitor, Franchisor shall so notify Owner and assert that Franchisor has the rights set forth above at Section 5.A. Provided Franchisor has received sufficient pricing and other data to allow an informed decision, Franchisor shall make its election thereunder within thirty (30) days of Franchisor’s receipt of such notice from Owner or within thirty days of Franchisor’s giving notice to Owner in which Franchisor asserts that Owner or any of its affiliates has become a Competitor.

Appears in 5 contracts

Samples: Franchise Agreement, Relicensing Franchise Agreement (Apple REIT Eight, Inc.), Relicensing Franchise Agreement (Apple REIT Eight, Inc.)

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Owner Becomes a Competitor. If Owner or any of its affiliates becomes a Competitor, Owner shall so notify Franchisor providing the data required pursuant to Section 5.A., 5.A. or if Franchisor otherwise determines that Owner or any of its affiliates has become a Competitor, Franchisor shall so notify Owner and assert that Franchisor has the rights set forth above at Section 5.A. Provided Franchisor has received sufficient pricing and other data to allow an informed decision, . Franchisor shall make its election thereunder within thirty (30) days of Franchisor’s receipt of such notice from Owner or within thirty days of Franchisor’s giving notice to Owner in which Franchisor asserts that Owner or any of its affiliates has become a Competitor.

Appears in 1 contract

Samples: Franchise Agreement (Apple REIT Seven, Inc.)

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