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.
Sample 1Sample 2Sample 3
Franchise Facility is defined in Section I(A).
Sample 1

Examples of Franchise Facility in a sentence

  • Under the Franchise Facility Subcommitment we served as partial guarantor, and in certain circumstances full guarantor, of the draws made by the franchise partnerships.

  • In fiscal year 2018-19, 63 of the eligible 67 counties currently levying one or more of the tourist development taxes will realize an estimated $1.02 billion in revenue.30 Professional Sports Franchise Facility TDT (s.

  • They respect the limitations of each node in the network only being able to communicate with its direct neighbors in the network.

  • 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.

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

  • The first tax is the “Professional Sports Franchise Facility Tax,” which is levied pursuant to Fla.

  • At the time of acquisition, we had a guarantee in place for a $5.0 million line of credit owed by Utah which had been fully guaranteed under the terms of the Franchise Facility Subcommitment.

  • Additionally, the County’s Financial Advisors have reviewed the Public Improvement Revenue Refunding Bonds, Series 2012 (the 2012 Public Improvement Refunding Bonds) and the Public Improvement Revenue (Professional Sports Franchise Facility Project), Tax-Exempt Series 2015D (the Series 2015D Public Improvement Revenue Bonds) and determined that these bonds can be refunded for a savings.

  • As part of the Credit Facility, in December 2010 we negotiated with various lenders a $50.0 million Franchise Facility Subcommitment, which covers our guarantees of debt of the franchise partners and replaced the $48.0 million Franchise Facility which had previously assisted the franchise partnerships with working capital needs and cash flows for operations.

  • The tax can only be levied in counties that have imposed the Professional Sports Franchise Facility TDT.

Related to Franchise Facility

  • Secure facility or "detention home" means a local, regional or state public or private locked

  • 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).

  • Vending facility means automatic vending machines, cafeterias, snack bars, cart service, shelters, counters, and such other appropriate auxiliary equipment which may be operated by licensed managers and which is necessary for the sale of newspapers, periodicals, confections, tobacco products, foods, beverages, and other articles or services dispensed automatically or manually and prepared on or off the premises in accordance with all applicable health laws and including the vending or exchange of chances for any lottery authorized by State Law and conducted by an agency of a State within such State. [CFR 34, Part 395.1(X)]

  • 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;

  • Triage facility means a short-term facility or a portion

  • 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.

  • Stand Alone System Upgrade Facilities means System Upgrade Facilities that a Developer may construct without affecting day-to-day operations of the New York State Transmission System during their construction. NYISO, the Connecting Transmission Owner and the Developer must agree as to what constitutes Stand Alone System Upgrade Facilities and identify them in Appendix A to this Agreement.

  • Transit-oriented facility means a facility that houses a transit station in a manner that promotes transit ridership or passenger rail use.

  • 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;

  • Holding facility means a designated area for the retention of

  • 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 has the meaning specified therefor in the recitals hereto.

  • 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

  • State facility means a center or a hospital operated by the department.