Franchise Facility definition

Franchise Facility means that certain credit facility in the amount of up to $48,000,000 extended by Bank of America, as servicer, to certain franchisees of the Borrower, as guaranteed by the Borrower and certain of its Subsidiaries, all pursuant to the Franchise Facility Credit Agreement, with an option of the Borrower to increase such facility by $25,000,000 up to a total amount of $73,000,000.
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Franchise Facility is defined in Section I(A).
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Examples of Franchise Facility in a sentence

  • DEFINITIONSIn addition to the defined terms set out in part I, in this part VI the following terms shall have the meanings set out below:ABF Facility has the meaning given to it in the Credit Agreement.ABF Franchise Facility has the meaning given to it in the Credit Agreement.

  • We note further that certain of the franchise partnerships that have borrowed against the Franchise Facility have reported coverage ratios below the levels required by the facility.

  • The plaintiffs allege that the defendants failed to engage in reasoned decision-making to determine the prudence of the investment options.

  • On January 28, 2011, notice was received from the lenders of the Franchise Facility Subcommitment that a default had occurred and we thus paid our $3.5 million guarantee shortly thereafter.

  • To include the original and additional Tourist Development Taxes, the Professional Sports Franchise Facility Tax, and the Additional Professional Sports Franchise Facility Tax.

  • There is a prohibition against any county levying a convention development tax from levying tourist development taxes at a rate of more than 2 percent; however, this prohibition does not apply to a county’s levy of the Professional Sports Franchise Facility Tax and Duval County’s levy of the Additional Professional Sports Franchise Facility Tax.

  • In this regard, please tell us and disclose, as appropriate, the potential direct and indirect implications of your franchise partnerships’ inability to meet their coverage ratios on both the Franchise Facility and your company’s liquidity and financial position.

  • The SBSTA continued its deliberations on the elaboration of the technology framework established under Article 10, paragraph 4, of the Paris Agreement.

  • SUMMARY: The County approved building a Professional Sports Franchise Facility in August 2015.

  • At the time of the Seattle closures, we had guarantees in place for two of Seattle’s loans, a $3.5 million loan which had been fully guaranteed under the terms of the Franchise Facility Subcommitment and a $1.2 million loan relating to one of the two cancelled facilities, for which we provided a 30% guarantee.

Related to Franchise Facility

  • Onshore facility means any facility any part of which is located in, on, or under any land of the state, other than submerged land, that because of its location, could reasonably be expected to cause substantial harm to the environment by discharging oil into or on the navigable waters of the state or the adjoining shorelines.

  • Existing Franchise Agreement means that certain franchise license agreement between the Seller and the Franchisor, granting to Seller a franchise to operate the Hotel under the Brand.

  • Franchise Agreement or “Agreement” shall mean this Agreement and any amendments or modifications hereto.

  • Off-site facility means a structural BMP located outside the subject property boundary described in the permit application for land development activity.

  • Franchise Agreements means (a) the Franchise Agreements set forth on Part IV of Schedule 4.01(p) hereto, and (b) any Franchise Agreement in respect of a Borrowing Base Asset entered into after the Closing Date in compliance with Section 5.01(r).

  • Franchise Area means the area within the jurisdictional boundaries of the City, including any areas annexed by the City during the term of this Franchise.

  • Existing Facility means a facility in existence on any given date, newly constructed or altered.

  • approved facility means any private practice, hospital, clinic or other health facility in Namibia defined in section 1 of the Hospitals and Health Facilities Act, 1994 (Act No. 36 of 1994), approved by the Council for the purpose of the training of hearing aid acoustics interns, and “facility” has a corresponding meaning;

  • Infrastructure facility means a building; structure; or networks of buildings, structures, pipes, controls, and equipment, or portion thereof, that provide transportation, utilities, public education, or public safety services. Included are government office buildings; public schools; courthouses; jails; prisons; water treatment plants, distribution systems, and pumping stations; wastewater treatment plants, collection systems, and pumping stations; solid waste disposal plants, incinerators, landfills, and related facilities; public roads and streets; highways; public parking facilities; public transportation systems, terminals, and rolling stock; rail, air, and water port structures, terminals, and equipment.

  • Idle facilities means completely unused facilities that are excess to the governmental unit's current needs.

  • New Franchise Agreement means the franchise license agreement to be entered into between Buyer and the Franchisor, granting to Buyer a franchise to operate the Hotel under the Brand on and after the Closing Date.

  • Franchise Fee means a direct or indirect payment to purchase or operate a franchise. Franchise fee does not include any of the following:

  • Public facility means 1 or more of the following:

  • On-site facility means a structural BMP located within the subject property boundary described in the permit application for land development activity.

  • LNG facility means a terminal which is used for the liquefaction of natural gas or the importation, offloading, and re-gasification of LNG, and includes ancillary services and temporary storage necessary for the re-gasification process and subsequent delivery to the transmission system, but does not include any part of LNG terminals used for storage;

  • Generating Facility means the Generating Unit(s) comprising Seller’s power plant, as more particularly described in Section 1.02 and Exhibit B, including all other materials, equipment, systems, structures, features and improvements necessary to produce electric energy and thermal energy, excluding the Site, land rights and interests in land.

  • Existing Facility Agreement means the senior secured credit facility dated 26 October 2000 made between, inter alia, UPC Broadband, UPC Financing and Toronto Dominion (Texas) LLC as facility agent and the banks and financial institutions listed therein, as amended from time to time.

  • Existing Facilities means all existing buildings and other facilities, the sites for the buildings or facilities, and furnishings or equipment for the buildings or facilities located on real property acquired by the building authority under the terms of this act.

  • Permitted Facility means a facility authorized by the general permit to discharge total nitrogen or