RESTAURANT TRANSFER FEE Clause Samples

RESTAURANT TRANSFER FEE. Each Maui Tacos Restaurant franchise agreement provides that upon the sale of a Maui Tacos Restaurant or controlling interest in a corporation that owns a Maui Tacos Restaurant, 5% of the gross sales price shall be paid to Franchisor as a transfer fee. In connection therewith, provided Subfranchisor is not in default of this agreement, Franchisor agrees to share equally the 5% fee with Subfranchisor, provided Subfranchisor provides any and all necessary operational assistance and Maui Tacos Restaurant supplementary training for the transferee franchisee at its own expense. Notwithstanding the foregoing, if the Maui Tacos Restaurant franchisee is owned by Subfranchisor or the stockholders of Subfranchisor, no transfer fee shall be charged for transfers of the outstanding and issued shares of the corporate Subfranchisor to another corporation owned by the Subfranchisor or between existing stockholders of the Subfranchisor and their immediate families (mother, children, wife, husband, father, brother or sister) or by bequest, devise, operation of law or otherwise in the event of the death of any of the stockholders of the Subfranchisor.
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RESTAURANT TRANSFER FEE. Each Pasta Central Restaurant franchise agreement provides that upon the sale of a Pasta Central Restaurant or controlling interest in a corporation that owns a Pasta Central Restaurant, 5% of the gross sales price shall be paid to Franchisor as a transfer fee. In connection therewith, provided Subfranchisor is not in default of this agreement, Franchisor agrees to share equally the 5% fee with Subfranchisor, provided Subfranchisor provides any and all necessary operational assistance and Pasta Central Restaurant supplementary training for the transferee franchisee at its own expense. Notwithstanding the foregoing, if the Pasta Central Restaurant franchisee is owned by Subfranchisor or the stockholders of Subfranchisor, no transfer fee shall be charged for transfers of the outstanding and issued shares of the corporate Subfranchisor to another corporation owned by Subfranchisor or between existing stockholders of the Subfranchisor and their immediate families (mother, children, wife, husband, father, brother or sister) or by bequest, devise, operation of law or otherwise in the event of the death of any of the stockholders of Subfranchisor.
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Related to RESTAURANT TRANSFER FEE

  • Permit Transfer/Sale Release and Waiver of All Claims against Sector Manager; Indemnification and Hold Harmless.

  • Transfer Agent; Transfer Sheets For a period of three (3) years after the date of this Agreement, the Company shall retain a transfer agent and registrar acceptable to the Representative (the “Transfer Agent”) and shall furnish to the Representative at the Company’s sole cost and expense such transfer sheets of the Company’s securities as the Representative may reasonably request, including the daily and monthly consolidated transfer sheets of the Transfer Agent and DTC. VStock Transfer, LLC is acceptable to the Representative to act as Transfer Agent for the shares of Common Stock.

  • Assignment/Transfer The Credit (or a portion thereof as earned) under this Agreement may be assigned to an “Affiliated Corporation” in accordance with RTC section 23663. As stated in RTC section 23689(i)(1), this Agreement shall not restrict, broaden, or alter the ability of Taxpayer to assign the Credit in accordance with RTC section 23663. In order to transfer this Agreement as a result of a sale or merger, prior written consent of GO- Biz must be obtained or the transfer will be void. Such transfer shall be permitted if GO-Biz determines that the transfer would further the purposes of the CCTC program and benefit California. Prior to GO-Biz consenting to the transfer, the new entity must disclose to GO-Biz the number of California full-time employees it employed at the time of acquisition or merger and any other information GO-Biz requests that applicants for a CCTC provide pursuant to a CCTC application.

  • Asset Transfer As consideration for the indemnity reinsurance of the General Account Liabilities by Reinsurer hereunder, Cedent hereby agrees to transfer to Reinsurer in accordance with the terms of the Acquisition Agreement (i) investment assets having a statutory statement carrying value on the books of Cedent equal to (a) the General Account Liabilities as of the close of business on the last day of the month preceding the month in which the Effective Date falls plus (b) the amount of the participating surplus with respect to the Coinsured Contracts as of such date less (c) the amount of any contract loans under the Coinsured Contracts as of such date and less (d) the amount of the General Account Other Insurance Assets as of such date and (ii) the General Account Other Insurance Assets as of the close of business on the last day of the month preceding the month in which the Effective Date falls. As additional consideration for the assumption of the General Account Liabilities by Reinsurer, Reinsurer shall be entitled to 100% of all premiums, deposits and other considerations to the extent received on or after the Effective Date by Cedent or Reinsurer with respect to the general account portion of the Coinsured Contracts net of reinsurance premiums and all other amounts payable on or after the Effective Date with respect to the Outward Reinsurance. Cedent shall promptly remit to Reinsurer (but in no event later than 72 hours following the receipt of any such premiums, deposits and other considerations) any such amounts received by it in respect of any of the Coinsured Contracts and hereby assigns to Reinsurer all of its rights to such premiums, deposits and other considerations payable to Cedent.

  • Servicing Transfer In the event that a successor Master Servicer is appointed pursuant to the Pooling and Servicing Agreement, from and after the effective date of such transfer of servicing, the successor Master Servicer appointed pursuant to the Pooling and Servicing Agreement, and not the former Master Servicer, shall (a) be responsible for the performance of all servicing functions to be performed from and after such date, (b) agree to be bound by the terms, covenants and conditions contained herein applicable to the Master Servicer and be subject to the duties and obligations of the Master Servicer hereunder, and (c) agree to indemnify and hold harmless the Credit Enhancement Provider from and against any and all claims, damages, losses, liabilities, costs or expenses whatsoever which the Credit Enhancement Provider may incur (or which may be claimed against the Credit Enhancement Provider) by reason of the gross negligence or willful misconduct of the successor Master Servicer in exercising its powers and carrying out its obligations under the Pooling and Servicing Agreement and the Series Supplement. Such transfer of servicing shall not affect any rights or obligations of the former Master Servicer under this Agreement that arose prior to the effective date of the transfer of servicing, except that such former Master Servicer shall have no obligation to indemnify the Credit Enhancement Provider as a result of any act or failure to act of any successor Master Servicer in the performance of the servicing functions.