Franchise Leases definition

Franchise Leases means all leases, subleases and other agreements or Contracts pursuant to which the Company or any of its Subsidiaries has granted a Franchisee the right to lease, use or occupy any Real Property. Notwithstanding the foregoing, the term “Franchise Leases” does not include any Franchise Agreements.
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Franchise Leases has the meaning assigned to it in Section 4.6.
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Examples of Franchise Leases in a sentence

  • Notwithstanding the foregoing, without the consent of Storage, the Company shall not give notice preventing the automatic renewal of the Property Management Agreement or terminate the Property Management Agreement or the Franchise Leases, except pursuant to Article XI or at such time that Storage is not longer a member of the Company.

  • The Company shall enter into the Property Management Agreement and the Franchise Leases promptly after the acquisition of the Properties.

  • Except as otherwise expressly provided herein, the Company shall not enter into any other contracts with a Member or any Affiliate of a Member or modify, amend or terminate the Contribution Agreement, the Purchase Agreements, the Capital Expenditures Agreement, the Franchise Leases or the Property Management Agreement or any other agreement between the Company and a Member or an Affiliate of a Member without the specific prior written approval of all the Members.

  • In the event the tenant is given an option to purchase the Real Property and improvements which are subject to a lease, the purchase price will be the greater of the fair market value thereof, or not less than 115% of the lease Rent Cost Basis, except that with respect to Franchise Leases representing not more than 20% of the Aggregate Eligible Loan Value and approved by the Deal Agent, such requirement shall not apply.

  • Attached to Section 2.12(d) of the Company Disclosure Schedule is a true and complete aging schedule of all Franchisee payables as at October 20, 1995 to the Company or any Company Subsidiary, as the case may be, pursuant to Franchise Agreements, Franchise Leases or any invoices relating to goods sold or services supplied to such Franchisees by the Company or any Company Subsidiary.

  • Buyer shall be entitled to all Income Percentage Rent payable by franchisees under any Franchise Leases and by tenants under any Tenant Leases for any calendar year, any fiscal year, or any other time period as set forth in such lease commencing on or after the Closing Date.

  • All policies of insurance (a) required to be maintained by Planet Fitness Assetco under such lease and (b) with respect to any Securitized Franchise Leases, to the Actual Knowledge of the Manager, required to be maintained by the Franchisee under the related sublease, are valid and in full force and effect, except where a failure to maintain such insurance would not be reasonably expected to have a Material Adverse Effect.