Franchisee Loan Program definition

Franchisee Loan Program means the transaction evidenced by (i) this Agreement wherein the Sponsor has guaranteed, to the extent set forth herein, certain obligations of Franchisees of the Sponsor, and (ii) the other Operative Documents executed in connection herewith and therewith.
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Franchisee Loan Program means that transaction evidenced by (i) that certain Loan Facility Agreement dated as of May 30, 1997 by and among the Borrower, SunTrust Bank, Atlanta, as servicer and the other financial institutions party thereto wherein the Borrower has guaranteed, to the extent set forth therein, certain obligations of franchisees of the Borrower, and (ii) the other "Operative Documents" (as such term is defined therein) executed by the Consolidated Companies in connection therewith.
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Examples of Franchisee Loan Program in a sentence

  • The Servicer and each Participant hereby further agrees that any set-off amount received with respect to any Borrower, the Sponsor or any Guarantor shall first be applied to amounts outstanding under the Franchisee Loan Program prior to application to any other obligations of any such Person to the Servicer or such Participant.

  • In the event that Sponsor receives any such payment with respect to the Loans pursuant to the Franchisee Loan Program (other than with respect to Loans purchased by Sponsor or where Sponsor has been subrogated to the rights of Servicer pursuant to the terms of the Sponsor Guaranty), such payments shall be accepted by Sponsor as agent for Servicer and Sponsor shall immediately endorse and forward the same to Servicer.

  • The Funding Approval Notice shall contain a statement that Sponsor has approved the Franchisee for a franchise license and for participation in the Franchisee Loan Program and shall also state that the Sponsor consents to the liens in favor of Servicer provided for therein.

  • Sponsor expressly acknowledges and agrees that Servicer shall exercise with respect to the Franchisee Loan Program the same standard of care and diligence in the performance of its duties, responsibilities and obligations under the Operative Documents as it generally exercises with respect to loans of a similar size and structure in Servicer’s sole and absolute discretion.

  • All conditions precedent to the effectiveness of the Franchisee Loan Program and the LIBOR Lease Transaction shall have been fulfilled or waived and the Administrative Agent shall be satisfied that such transactions are in full force and effect.

  • Borrower agrees to pay to Lender upon Lender's demand any amount required to compensate Lender for any additional losses, costs or expenses Lender may incur (including without limitation by reason of its funding through the Franchisee Loan Program) as a result of any late payment, including any delay in payments from the Disbursing Account.

  • The initial Funding Sources for the Franchisee Loan Program will be Corporate Asset Funding Company, Inc.

  • Lender or a Purchaser, in each case to the extent it provides funds (directly or indirectly) for the Franchisee Loan Program by issuing commercial paper, is herein called a "CP Issuer".

  • Sponsor expressly acknowledges and agrees that Servicer shall exercise with respect to the Franchisee Loan Program the same standard of care and diligence in the performance of its duties, responsibilities and obligations under the Operative Documents as it generally exercises with respect to the loans in its own portfolio.

  • Lender may change the Funding Sources for the Franchisee Loan Program at any time.

Related to Franchisee Loan Program

  • Loan Program means the State Treasurer’s Interest-Free Loan Program for Colorado School Districts authorized pursuant to the Loan Program Statutes.

  • Approved abuse education training program means a training program using a curriculum approved by the abuse education review panel of the department of public health or a training program offered by a hospital, a professional organization for physicians, or the department of human services, the department of education, an area education agency, a school district, the Iowa law enforcement academy, an Iowa college or university, or a similar state agency.

  • Educational facility means a structure available for use as a dormitory or other housing facility, including housing facilities for students, a dining hall, student union, administration building, academic building, library, laboratory, research facility, classroom, athletic facility, health care facility, and maintenance, storage, or utility facility, and other structures or facilities related thereto or required or useful for the instruction of students or the conducting of research or the operation of an institution for higher education, including parking and other facilities or structures essential or convenient for the orderly conduct of the institution for higher education, and shall include lands and interests in lands and landscaping, site preparation, furniture, equipment, machinery, and other similar items necessary or convenient for the operation of a particular facility or structure in the manner for which its use is intended, and any improvements necessary to a particular facility to make the facility more energy efficient. Educational facility does not include items as books, fuel, supplies, or other items the costs of which are customarily deemed to result in a current operating charge and does not include any facility used or to be used for sectarian instruction or as a place of religious worship, nor a facility which is used or to be used primarily in connection with a part of the program of a school or department of divinity for a religious denomination.

  • Streamlined Documentation Mortgage Loan Any Mortgage Loan originated pursuant to the Seller's Streamlined Loan Documentation Program then in effect.

  • Education program means any program that is principally engaged in the provision of education, including, but not limited to, early childhood education, elementary and secondary education, postsecondary education, special education, job training, career and technical education, and adult education, and any program that is administered by an educational agency or institution.

  • Cooperative education program means a written voluntary agreement between and among districts to provide certain educational programs for pupils in certain groups of districts. The written agreement shall be approved by all affected districts at least annually and shall specify the educational programs to be provided and the estimated number of pupils from each district who will participate in the educational programs.

  • Educational program means a program for educating and preparing physician assistants which is approved by the board.

  • AML Program has the meaning ascribed thereto in Schedule 2.1(F)(8) hereof.

  • Educational loan means a loan made by the authority to an institution.

  • E-Verify Program above means the employment verification program administered by the United States Department of Homeland Security, the Social Security Administration, or any successor program.

  • Individualized Education Program (IEP means a written statement for a child with a disability that is developed, reviewed, and revised in accordance with Sections 300.320 through 300.324 of 34 CFR.

  • Public School Student Accessing Courses at a Distance means a student who is scheduled for a full course load through the District and attends all classes virtually.

  • Residential child care facility means a twenty-four-hour residential facility where children live together with or are supervised by adults who are not their parents or relatives;

  • Alternative education program means a school or separate class group designed to best serve students’ educational needs and interests and assist students in achieving the academic standards of the district and the state.

  • Individualized education program or “IEP” means a written statement for a child with a disability as defined in 14 DE Admin. Code 922.

  • Number of Students Who Began Program means the number of students who began the program who are scheduled to complete the program within the reporting calendar year.

  • Affordable housing program(s means any mechanism in a municipal Fair Share Plan prepared or implemented to address a municipality’s fair share obligation.

  • Limited Documentation Program The guidelines under which the Seller generally originates Mortgage Loans principally on the basis of the Loan-to-Value Ratio of the related Mortgage Loan and the creditworthiness of the Mortgagor.

  • Cannabis processing facility means a person that:

  • Marijuana retailer means a person who sells marijuana items to a consumer in this state.

  • Marijuana testing facility means an entity licensed to analyze and certify the safety and potency of marijuana.

  • Cannabis production establishment agent registration card means a registration card that the department issues that:

  • WOSB Program Repository means a secure, Web-based application that collects, stores, and disseminates documents to the contracting community and SBA, which verify the eligibility of a business concern for a contract to be awarded under the WOSB Program.

  • CRAF Program means the Civil Reserve Air Fleet Program authorized under 10 U.S.C. Section 9511 et seq. or any similar or substitute program under the laws of the United States.

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

  • Qualifying Educational Program means a program at a post-secondary school level of not less than three consecutive weeks duration that requires each student taking the program to spend not less than 10 hours per week on courses or work in that program.