Common use of Third Party Franchisees Clause in Contracts

Third Party Franchisees. Promptly upon any senior officer of Global Parent or Lead Borrower obtaining knowledge of any material breach or non-performance of, or any material default under, any agreements with any Third Party Franchisee that would materially and adversely impact the ability of Agents to realize upon the Collateral,

Third Party Franchisees. Promptly upon any senior officer of Global Parent Holdings or Lead Borrower obtaining knowledge of any material breach or non-performance of, or any material default under, any agreements with any Third Party Franchisee that would materially and adversely impact the Borrowing Base or materially and adversely impact the ability of Agents to realize upon the Collateral,;