Franchise Approval definition

Franchise Approval has the meaning set forth in Section 6.1.
View Source
Franchise Approval means an approval granted by the Authority to an airline to operate franchise business;
View Source
Franchise Approval shall have the meaning assigned thereto in subsection 4.5(b).
View Source

Examples of Franchise Approval in a sentence

  • Hersha Owner and Hersha Lessee agree to reasonably cooperate with and assist Lessee JV in its pursuit of Franchise Approval, at no material cost to Hersha Owner or Hersha Lessee.

  • Owner JV and Lessee JV shall use diligent good faith efforts to obtain Franchise Approval no later than fifteen (15) days prior to the Closing Date, and Owner JV and Lessee JV shall provide Hersha Owner and Lessee Owner with written notice immediately upon obtaining Franchise Approval.

  • Lessee JV shall have received Franchise Approval and Franchisor has executed and delivered a New Franchise Agreement effective as of the Closing Date.

  • In connection with such Franchise Approval, it shall be a condition to Hersha Owner’s obligation to close that the existing license agreement between Hersha Lessee and Franchisor (the “Existing Franchise Agreement”) shall have been terminated without material cost to Hersha Owner or Hersha Lessee, and Hersha Owner, Hersha Lessee and any guarantors or co-obligors shall have been expressly released from any further obligations or liability thereunder.

  • If the Buyer does not elect to terminate, to the extent permitted, on or before the expiration of the Franchise Approval Period, the ▇▇▇▇▇▇▇ Money shall remain non-refundable, except as otherwise expressly set forth in this Agreement, and the Buyer’s obligation to purchase the Property shall be conditional only as otherwise provided in accordance with the terms of this Agreement.

  • Purchaser shall be entitled until the end of the Due Diligence Period to confirm the receipt of the Franchise Approval with respect to the Hotel in a form reasonably acceptable to Purchaser (the “Diligence Contingency”), provided that Purchaser will diligently and promptly pursue the Franchise Approval in good faith following the execution of this Agreement.

  • All costs, fees and expenses associated with Purchaser obtaining the Franchise Approval (other than Seller’s expenses of cooperation) shall be the obligation of Purchaser, and Seller shall have no obligation for any such fees, costs or expenses.

  • Purchaser will provide Seller with regular and prompt updates of the progress on the Franchise Approval, upon request of Seller.

  • Franchise Approval shall be a condition to Hersha Owner’s and Hersha Lessee’s obligation to close and Owner JV’s and Lessee JV’s obligation to close.

  • During the Due Diligence Period, Seller will reasonably cooperate with Purchaser in connection with Purchaser’s obtaining the Franchise Approval.


More Definitions of Franchise Approval

Franchise Approval has the meaning set forth in Section 4.3.1 hereof.
View Source
Franchise Approval. The meaning designated in Section 4.2 of this Agreement.
View Source
Franchise Approval shall have the meaning assigned thereto in subsection 4.5(b). “Franchisor” shall mean Hyatt Place Franchising, L.L.C.
View Source

Related to Franchise Approval

  • Pre-approval means written notification via a pre-approval letter to Customer that Ameren Illinois has reviewed Customer's Application and determined that the project meets the program eligibility requirements for a maximum pre-approved incentive amount if the project is completed by the estimated completion date and all final application paperwork is submitted and approved.

  • CPUC Approval means a final and non-appealable order of the CPUC, without conditions or modifications unacceptable to the Parties, or either of them, which contains the following terms:

  • MAA Approval means approval of an MAA by the applicable Regulatory Authority for marketing and sale of a Product in the Collaborator Territory, but excluding any Pricing and Reimbursement Approval.

  • type-approval means the procedure whereby an approval authority certifies that a type of vehicle, system, component or separate technical unit satisfies the relevant administrative provisions and technical requirements;

  • Requisite Approval means the affirmative vote of the holders of (a) at least a majority of the outstanding shares of Company Capital Stock, voting together as a single class and (b) at least a majority of the outstanding shares of Series A-1 Preferred Stock, Series B Preferred Stock and Series C Preferred Stock, voting together as a single class on an as-converted basis.