Franchisee Lease Payments definition

Franchisee Lease Payments means all lease payments, taxes and any other amounts payable by Franchisees to a Guarantor in respect of Real Estate Assets and New Real Estate Assets.
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Franchisee Lease Payments means the rental payments and any other amounts paid by any franchisee pursuant to any Franchisee Lease or Franchisee Sublease.
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Franchisee Lease Payments means all lease payments, Taxes and any other amounts payable by Franchisees to a Securitization Entity in respect of Securitized Franchisee Leases. “Franchisee Note” means any franchisee note or other franchisee financing agreement entered into in order to finance the payment of franchisee fees or other amounts owing by a Franchisee. “Franchisee Payments” means all amounts payable to a Securitization Entity by Franchisees, whether directly or indirectly, pursuant to the Franchise Documents, including Royalty Payments and Other Franchisee Payments, but excluding Excluded Amounts. “Franchisor” means Planet Fitness Franchising LLC, a Delaware limited liability company, and its successors and assigns. “Franchisor Capital Account” means the account maintained in the name of the Franchisor and any Additional Securitization Entity that from time to time acts as the franchisor with respect to New Franchise Agreements and New Securitized Area Development Agreements, as applicable, into which such Securitization Entity causes amounts to be deposited pursuant to Section 5.2(d) of the Base Indenture or any successor account established by such Securitization Entity for such purpose pursuant to the Base Indenture. “Future Brand” means any name or Trademark (including any Trademarks related to, based on or derivative thereof, but excluding the Planet Fitness Brand or any Trademark owned by the Securitization Entities as of the Initial Closing Date) that (i) is acquired or developed by Holdco or any of its Subsidiaries and subsequently contributed to one or more Securitization Entities in a manner consistent with the terms of the Related Documents or (ii) that is acquired or developed by the Master Issuer or any one or more Securitization Entities in a manner consistent with the terms of the Related Documents. “GAAP” means the generally accepted accounting principles in the United States promulgated or adopted by the Financial Accounting Standards Board and its predecessors and successors in effect from time to time; provided that, for purposes of computing the Holdco Leverage Ratio (including any financial and accounting terms included in the components thereof), or determining whether an obligation constitutes a Capitalized Lease Obligation, GAAP shall mean generally accepted accounting principles in the United States promulgated or adopted
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Examples of Franchisee Lease Payments in a sentence

  • Franchisee Lease Payments that have been deposited into a Concentration Account shall be transferred to the Lease Obligations Account on or before the second (2nd) Business Day following the last day of each Interim Collection Period.

  • All Franchisee Lease Payments received by Planet Fitness Assetco shall be deposited as soon as practicable, and in any event within three (3) Business Days of receipt into the applicable Concentration Account or the Lease Obligations Accounts (unless such deposit requires an international funds transfer, in which case such funds shall be deposited to the applicable Concentration Account or the Lease Obligations Account within five (5) Business Days of receipt).

  • Also, once all the components are secured onto the chassis, sealant will have to be added to ensure water resistance.

  • Each Real Estate Holder Advance shall be repaid solely from Franchisee Lease Payments received in the Real Estate Obligations Account after the date of such Real Estate Holder Advance in accordance with Section 5.10(d) of the Base Indenture.

  • On and after the Series 2024-1 Springing Amendments Implementation Date, in the event that sufficient funds are not available in the Lease Obligations Account to pay any Lease Obligations at any time, the Manager may make an advance (a “Lease Obligations Advance”) to fund such payment to the extent it reasonably expects to be reimbursed for such advances from the proceeds of future Franchisee Lease Payments, it being agreed that any such advances shall not constitute Manager Advances.

  • In the event sufficient funds are not available in the Real Estate Obligations Account to pay any Real Estate Obligation, the Manager may, but shall not be obligated to, make an advance (each, a “Real Estate Holder Advance”) to fund such Real Estate Obligation to the extent that it reasonably expects to be reimbursed for such advances from the proceeds of future Franchisee Lease Payments, it being understood and agreed that any such advances shall not constitute Manager Advances.

  • Each Lease Obligations Advance will be repaid solely from Franchisee Lease Payments received in the Lease Obligations Account after the date of such Lease Obligations Advance.


More Definitions of Franchisee Lease Payments

Franchisee Lease Payments means all lease payments, taxes and any other amounts payable by Franchisees to a Guarantor in respect of Real Estate Assets.
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Related to Franchisee Lease Payments

  • Lease Payments means the rental payments described in Exhibit A hereto.

  • Operating Lease means, as applied to any Person, any lease (including, without limitation, leases which may be terminated by the lessee at any time) of any property (whether real, personal or mixed) which is not a Capital Lease other than any such lease in which that Person is the lessor.

  • Rent means Basic Rent and Supplemental Rent, collectively.

  • Rents means all of the rents, royalties, issues, profits, revenues, earnings, income and other benefits of the Property, or arising from the use or enjoyment of the Property, including all such amounts paid under or arising from any of the Leases and all fees, charges, accounts or other payments for the use or occupancy of rooms or other public facilities within the Real Property.

  • Rental means the Supplier’s charging rate for the hire of the Hire Goods which is current from time to time during the Hire Period;

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.