Franchisee Loans definition

Franchisee Loans means loans made by the Borrower, at its discretion, to Persons signing with Borrower or a Subsidiary either a new franchise agreement or new management agreement in connection with a change of brand of the hotel property owned or operated by any such Person to a brand owned by the Borrower or any Subsidiary, or a change in management of a hotel property owned or operated by any such Person to the Borrower or any Subsidiary as manager, to facilitate the acquisition of furniture, fixtures and equipment necessitated by the change in brand or management.
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Franchisee Loans means loans or other extensions of credit made by Lender under Franchisee Loan Documents, together with all related rights of Lender and its assigns (including rights in respect of collateral and guarantees).
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Franchisee Loans means loans made by Borrower to a franchisee of Borrower in the ordinary course of business (1) generally in the amount of up to $100,000 to finance the operations of such franchisee, and (2) in the amount of up to $1,000,000 to finance the purchase by such franchisee of the franchise business.
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Examples of Franchisee Loans in a sentence

  • At no time, except as otherwise provided in the form of Established Franchisee Loan Agreement, shall the aggregate outstanding principal amount of any and all Established Franchisee Loans made to any Borrower exceed the Established Franchisee Borrowing Base of such Borrower as in effect at such time.

  • Lender may sell or grant interests in Franchisee Loans to a Purchaser that funds itself (wholly or partially) by borrowing loans or obtaining other credit from banks, insurance companies or other credit providers (such banks, insurance companies or other credit providers or any assignees of the foregoing being herein called "Other Credit Providers") or by selling assets (including Franchisee Loans or interests therein) to Other Credit Providers.

  • Lender may also borrow or obtain other credit directly from Other Credit Providers or sell assets (including Franchisee Loans or interests therein) to Other Credit Providers.

  • Make any loans or advances to any Person, except for Franchisee Loans.

  • Lender may sell or grant interests in Franchisee Loans to a Purchaser that funds itself (wholly or partially) by issuing commercial paper.

  • Any amounts paid by the Borrower to repurchase such Franchisee Loans from the Limited Guaranty Pool shall CHAR1\1185130v10 be deemed Franchisee Guaranty Payments and shall be subject to the limitations set forth in Section 2 of the Franchisee Facility Guaranty Agreement.

  • Additionally, subsequent to the acquisition of one or more Franchisee Loans, without the prior approval of Required Lenders, the respective obligations of the Franchisee Loan Borrowers and any other person under any Franchisee Loan Document may not be waived, amended or modified and collateral securing a Franchisee Loan may not be released except as otherwise provided in the Franchisee Loan Documents.

  • The Parent Guarantor hereby waives notice of the Servicer’s and each Lender’s acceptance of this Agreement and the creation, extension or renewal of any Franchisee Loans or other Franchisee Facility Guaranteed Obligations.

  • The Lenders have agreed to make Loans to the Borrower, the Issuing Bank has agreed to issue Letters of Credit for the account of the Borrower and the Servicer, on behalf of the Lenders, has agreed to make Franchisee Loans to certain franchisees of the Borrower and to issue Franchisee Letters of Credit for the account of such franchisees of the Borrower, pursuant to, and upon the terms and subject to the conditions specified in, the Credit Agreement.

  • In addition, Borrower agrees to purchase all Franchisee Loans or pay to Bank all Franchisee Loan amounts within 10 days of Bank's request for same upon the occurrence of an Event of Default under this Agreement.


More Definitions of Franchisee Loans

Franchisee Loans as defined in Section 9.7(a).
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Related to Franchisee Loans

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Originating Lender has the meaning specified therefor in Section 13.1(e) of the Agreement.

  • Subject Loans has the meaning assigned to such term in Section 2.11(b)(ii).

  • Revolving Facility Loans shall include the Other Revolving Loans.

  • or "Loans means and includes without limitation any and all commercial loans and financial accommodations from Lender to Borrower, whether now or hereafter existing, and however evidenced, including without limitation those loans and financial accommodations described herein or described on any exhibit or schedule attached to this Agreement from time to time.

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary:

  • Existing Loans has the meaning specified in Section 2.19(a).

  • Total Loans at any time, the aggregate principal amount of the Loans of the Lenders outstanding at such time (after converting the outstanding principal amount of any Loans denominated in the Optional Currency into the Dollar Equivalent thereof at such time).

  • Other Loans means one or more Classes of Loans that result from a Refinancing Amendment or a Loan Modification Agreement.

  • Refinanced Loans has the meaning specified in Section 10.01.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Related Loans has the meaning set forth in Section 3.1. “Restructuring Loss” means the loss on a modified or restructured loan measured by the difference between (a) the principal, Accrued Interest, tax and insurance advances, third party or other fees due on a loan prior to the modification or restructuring, and

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01(b). Unless the context otherwise requires, the term “Revolving Facility Loans” shall include the Other Revolving Loans.

  • Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).

  • Failed Bank Advances means the total sums paid by the Failed Bank to (i) protect its lien position, (ii) pay ad valorem taxes and hazard insurance, and (iii) pay credit life insurance, accident and health insurance, and vendor's single interest insurance.

  • Other Crossed Loans As defined in Section 2.03(a) of this Agreement.

  • New Loans means Loans made by the Failed Bank after the Bid Valuation Date that are not continuations, amendments, modifications, renewals, extensions, refinancings, restructurings, or refundings of or for any then existing Loan.

  • Eligible Loans has the meaning specified in any of the Purchase Agreements or the Sale Agreement, as applicable.

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to this Borrower Loan Agreement, in the maximum principal amount of the Borrower Loan Amount, as evidenced by the Borrower Note.

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.

  • Revolving Loans as defined in Section 2.4(a).

  • Replacement Loans has the meaning specified in Section 10.01.

  • Extended Loans shall have the meaning assigned to such term in Section 2.21(a).

  • Revolving Advances means Advances made other than Letters of Credit.