Area Development Agreements definition

Area Development Agreements means all development agreements for Stores pursuant to which a Franchisee, developer or other Person obtains the rights to develop (in order to operate as a Franchisee) one or more Stores within a designated geographical area.

Area Development Agreements means all development agreements for Stores pursuant to which a Franchisee, developer or other Person obtains the rights to develop (in order to operate as a Franchisee) one or more Stores within a designated geographical area. “Asset Disposition Collections” has the meaning set forth in Section 8.16 of the Base Indenture. “Asset Disposition Proceeds” means, with respect to any disposition of property by a Securitization Entity, other than dispositions resulting in Asset Disposition Collections, the excess, if any, of (i) the sum of cash and cash equivalents received in connection with such disposition (including any cash or cash equivalents received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) over (ii) the sum of (A) the principal amount of any Indebtedness that is secured by the applicable property and that is required to be repaid in connection with such disposition (other than Indebtedness under the Notes) to the extent such principal amount is actually repaid, (B) the reasonable and customary out-of-pocket expenses incurred by the Securitization Entities in connection with such disposition and (C) income Taxes reasonably estimated to be actually payable within two (2) years of such disposition as a result of any gain recognized in connection therewith. “Asset Disposition Proceeds Account” means the account maintained in the name of the Master Issuer, into which the Manager is required to cause Asset Disposition Proceeds to be deposited pursuant to Section 5.11(g) of the Base Indenture or any successor account established for the Master Issuer by the Manager for such purpose pursuant to the Base Indenture and the Management Agreement, including any investment accounts related thereto into which funds are transferred for investment purposes pursuant to Section 5.2(b) of the Base Indenture. “Asset Disposition Reinvestment Period” has the meaning specified in Section 5.11(g) of the Base Indenture. “Authorized Officer” means, with respect to (i) any Securitization Entity, any officer who is authorized to act for such Securitization Entity in matters relating to such Securitization Entity, including an Authorized Officer of the Manager authorized to act on behalf of such Securitization Entity; (ii) Planet Fitness Holdings, in its individual capacity and in its capacity as the Manager, any officer who is authorized to act for Planet Fitness Holdings or any other officer of P...

Area Development Agreements shall have the meaning set forth in Section 3.9(a).

Examples of Area Development Agreements in a sentence

• You must be in full compliance with all your obligations under any and all Franchise Agreements and Area Development Agreements executed between you and us.

• The Company shall take such steps as may be reasonably necessary to enforce the terms and conditions of its Franchise and/or Area Development Agreements.

• For Area Development Agreements, depending on your experience and qualifications, we may impose requirements that include but are not limited to the experience and qualifications of the operating management of your stores.

• Franchisor and Area Developer have entered into a Termination Agreement which terminated their December 30, 1997 and July 6, 2000 Area Development Agreements (hereinafter, together with all amendments thereto, collectively referred to as “Old Agreements”).

• Two new Area Development Agreements were signed during the quarter, one for the Philadelphia market and one for part of Southern California.

• Except as set forth on Schedule 2.13(d), there are no offers by the Company of Franchise Agreements and/or Area Development Agreements which are pending or in progress as of the date of this Agreement and which, to the Knowledge of Seller, are likely to mature into opportunities to sign a Franchise Agreement and/or an Area Development Agreement.

• As of the Closing Date, Seller shall have taken, or caused to be taken, all appropriate actions in accordance with all applicable requirements of Law with respect to the Franchises, the Area Development Agreements and the Brands UFOC, to ensure that the consummation of the transactions contemplated hereby will not alter or impair any of the Franchises and the Area Development Agreements or the ability of the Companies to continue to do business in the same way as prior to the Closing.

• Franchisee will not be refunded any fees or deposits previously paid under any of the Area Development Agreements.

• If the offeror proposes to buy any other property or rights from you or any of your Owners or Affiliates (other than rights under Area Development Agreements or other franchise agreements for Noodles & Company Restaurants) as part of the bona fide offer, the proposal for such property or rights must be set forth in a separate, contemporaneous offer that is fully disclosed to us, and the price and terms of purchase offered to you or your Owners for the.

• Each of the Franchises and Area Development Agreements will remain valid, and in full force and effect, following consummation of the transactions contemplated hereby.

More Definitions of Area Development Agreements

Area Development Agreements has the meaning specified in Section 2.13(a) of this Agreement.