Franchisor Approval definition

Franchisor Approval. Shall have the meaning given to it in Section 4.9.
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Franchisor Approval shall have the meaning set forth in Section 2.10.1.
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Franchisor Approval. Shall have the meaning given to it in Section 4.9. GAAP: Shall have the meaning given to it in Section 4.10.
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Examples of Franchisor Approval in a sentence

  • Purchaser shall use commercially reasonable efforts to pursue and negotiate in good faith the Franchisor Approval with Franchisor on or before expiration of the Inspection Period.

  • Promptly following the execution of this Agreement, Purchaser shall contact Franchisor to obtain approval by Franchisor ("Franchisor Approval") to a transfer of the Franchise Agreement or issuance by Franchisor of a new franchise agreement or license agreement to Purchaser (the "New Franchise Agreement").

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  • Notwithstanding the foregoing, Purchaser shall have the one-time right to extend the Due Diligence Period by fifteen (15) days if (i) despite Purchaser's diligent, good faith efforts, Purchaser has not obtained the Franchisor Approval pursuant to Section 2.4, or (ii) Purchaser requires, in its sole but good faith determination, additional time to audit Seller's books and records related to the Property.

  • Obtaining the Franchisor Approval and/or the New Franchise Agreement shall not be a condition to Closing under this Agreement and failure of CWI to close under this Agreement due to its failure to obtain the Franchisor Approval and/or the New Franchise Agreement shall be a default under this Agreement by CWI.

  • For the avoidance of doubt, the additional Franchisor Approval Period pursuant to this Section 6.3(b) shall not result in any extension of the Closing Date.

  • If Franchisor has not granted Franchisor Approval by the expiration of the Due Diligence Period, CWI shall have an additional fifteen (15) day period (the “Franchisor Approval Period”) solely to allow CWI to obtain the Franchisor Approval; provided CWI shall be obligated to (a) deposit the Second Deposit in accordance with Section 2.3.3, and (b) notify Xxxxx in writing, prior to the expiration of the Due Diligence Period, of its intent to utilize the Franchisor Approval Period.

  • If the Franchisor Approval has not been granted by the expiration of the Inspection Period, Purchaser may elect to extend the Inspection Period for up to an additional ten (10) Business Days, for the sole purpose allowing Purchaser to obtain Franchisor Approval and for no other reason whatsoever, by delivering written notice to Seller of such election (the “Extension Notice”) prior to the expiration of the Inspection Period.

  • For the avoidance of doubt, the Closing Date shall not be extended in the event the Purchaser utilizes the Franchisor Approval Period.

  • For avoidance of doubt, the Franchisor Approval Period shall in no way act as an extension of the Closing Date.


More Definitions of Franchisor Approval

Franchisor Approval. The approval or consent of the Franchisor for the Seller’s transfer of the Transferred Member Interests to Purchaser.
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Franchisor Approval shall have the meaning set forth in Section 1.3(g).
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Related to Franchisor Approval

  • Prior Approval means written ap- proval by an authorized official evi- dencing prior consent.

  • HSR Approval means expiration of all applicable waiting periods under the HSR Act (including any voluntary agreed extensions) or earlier termination thereof.

  • CPUC Approval means a final and non-appealable order of the CPUC, without conditions or modifications unacceptable to the Parties, or either of them, which contains the following terms:

  • IRB approval means the determination of the IRB that the research has been reviewed and may be conducted at an institution within the constraints set forth by the IRB and by other institutional and federal requirements.

  • Registry Operator Approval means the receipt of each of the following: (A) the affirmative approval of the Applicable Registry Operators whose payments to ICANN accounted for two-­‐thirds of the total amount of fees (converted to U.S. dollars, if applicable, at the prevailing exchange rate published the prior day in the U.S. Edition of the Wall Street Journal for the date such calculation is made by ICANN) paid to ICANN by all the Applicable Registry Operators during the immediately previous calendar year pursuant to the Applicable Registry Agreements, and (B) the affirmative approval of a majority of the Applicable Registry Operators at the time such approval is obtained. For the avoidance of doubt, with respect to clause (B), each Applicable Registry Operator shall have one vote for each top-­‐level domain operated by such Registry Operator pursuant to an Applicable Registry Agreement.

  • CFIUS Approval means that any of the following shall have occurred: (a) the review period under the DPA commencing on the date that a CFIUS Notice is accepted by CFIUS shall have expired and Xxx, on the one hand, and Polaris, on the other hand, shall have received written notice from CFIUS to the effect that such review has been concluded and that either the Contemplated Transactions do not constitute a “covered transaction” under the DPA or there are no unresolved national security concerns, and all action under the DPA is concluded with respect to the Contemplated Transactions, (b) an investigation under the DPA shall have been commenced after such review period and CFIUS shall have determined to conclude all action under the DPA without sending a report to the President of the United States, and Xxx, on the one hand, and Polaris, on the other hand, shall have received written notice from CFIUS that either the Contemplated Transactions do not constitute a “covered transaction” under the DPA or there are no unresolved national security concerns, and all action under the DPA is concluded with respect to the Contemplated Transactions, or (c) CFIUS shall have sent a report to the President of the United States requesting the President’s decision and either (i) the President shall have announced a decision not to take any action to suspend or prohibit the Contemplated Transactions or, (ii) the period under the DPA during which the President may announce his decision to take action to suspend, prohibit or place any limitations on the Contemplated Transactions shall have expired without any such action being threatened, announced or taken.

  • Special Approval means approval by a majority of the members of the Conflicts Committee.

  • MAA Approval means approval of an MAA by the applicable Regulatory Authority for marketing and sale of a Product in the Collaborator Territory, but excluding any Pricing and Reimbursement Approval.

  • FCC Approval means the FCC’s grant of the FCC Applications, including any grants by operation of law; provided that the possibility that an appeal, request for stay, or petition for rehearing or review by a court or administrative agency may be filed with respect to such grant, or that the FCC may reconsider or review such grant on its own authority, shall not prevent such grant from constituting FCC Approval for purposes of the Plan.

  • Final Approval means the Court’s order granting final approval of the Settlement.

  • Conditional approval means a time-limited status that results when an approved nursing education program has failed to maintain requirements as set forth in this chapter.

  • Approval means the written consent of the Authority.

  • Initial approval means authorization to admit students and enter into contractual agreements for clinical facilities. It is granted only after an application has been submitted, reviewed and a survey visit made by the Board. No students shall be admitted to the program until the institution has received written notification that initial approval has been granted. Failure to comply will delay initial approval.

  • Pre-approval means written notification via a pre-approval letter to Customer that Ameren Illinois has reviewed Customer's Application and determined that the project meets the program eligibility requirements for a maximum pre-approved incentive amount if the project is completed by the estimated completion date and all final application paperwork is submitted and approved.

  • Requisite Approval means the affirmative vote of the holders of at least a majority of the shares of outstanding Company Common Stock and outstanding Company Preferred Stock voting as a single class.

  • Development approval means a document from a governmental entity which authorizes the commencement of a development.

  • Board Approval means the affirmative vote of a majority of the Disinterested Directors of the Company or a unanimous written consent of the Board of Directors of the Company duly obtained in accordance with the applicable provisions of the Company's certificate of incorporation, bylaws and applicable law.

  • Works Approval means this Works Approval numbered W5914/2015/1 and issued under the Act; and

  • Approved/Approval means the approval in writing.

  • NDA Approval means the Approval of an NDA by the FDA for a Product in the U.S.

  • Final Approval Date means the date upon which Final Approval occurs.

  • Required Approval has the meaning specified in Section 2.2(b).

  • Reimbursement Approval means an approval, agreement, determination, or other decision by the applicable Governmental Authority that establishes prices charged to end-users for pharmaceutical or biologic products at which a particular pharmaceutical or biologic product will be reimbursed by the Regulatory Authorities or other applicable Governmental Authorities in the Territory.

  • Approved program or approved State means a State administered NPDES program which has been approved or authorized by EPA under 40 CFR Part 123.

  • Application Approval Date means the date that the Application is approved by the Board of Trustees of the District and as further identified in Section 2.3.B of this Agreement.

  • Development Consent means the consent granted to the Development Application for the Development and includes all modifications made under section 4.55 of the Act.