Franchisor Comfort Letter definition

Franchisor Comfort Letter means, for each Collateral Property, a comfort letter or similar instrument from the related Franchisor to Administrative Agent acknowledging the Loan and providing certain assurances, in form and substance reasonably satisfactory to Administrative Agent.

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Franchisor Comfort Letter. – means a letter agreement to be executed between Franchisor, Borrower and/or Operating Lessee, as the case may be, and Administrative Agent with respect to any Franchise Agreement.

Franchisor Comfort Letter means a letter agreement to be executed between Franchisor, Borrower and/or Operating Lessee, as the case may be, and Administrative Agent with respect to any Franchise Agreement.

Examples of Franchisor Comfort Letter in a sentence

If --------------- any such PIP requirement is imposed solely as a result of Purchaser's request for a Franchisor Comfort Letter, Purchaser may waive the delivery of such Franchisor Comfort Letter as a condition to Closing.
Lender shall have the rights and remedies granted to Lender under the Franchisor Comfort Letter.
The Franchise Agreement represents the entire agreement between Borrower and Franchisor with respect to the hotel franchise for the Premises, and there are no other agreements or representations, written or oral, between Borrower and Franchisor with respect to thereto (other than as set forth in the Franchisor Comfort Letter).
Lender shall have received a certified copy of any Franchise Agreement affecting any Individual Property and a Franchisor Comfort Letter from Franchisor thereunder, in each case, in form and substance satisfactory to Lender.
In no event shall it be deemed unreasonable for Lender to require that the franchisor comfort letter delivered by any successor franchisor be substantially in the form of the Franchisor Comfort Letter.
After reasonable notice to Maryland Guarantor, Lender shall have the right to cure defaults of Maryland Guarantor or Operating Lessee under (i) the Approved Management Agreement (in accordance with the Subordination of Management Agreement) and (ii) the Approved Franchise Agreement (in accordance with the Franchisor Comfort Letter).
If any such PIP requirement is imposed solely as a result of Purchaser's request for a Franchisor Comfort Letter, Purchaser may waive the delivery of such Franchisor Comfort Letter as a condition to Closing.
Upon Requisite Lenders’ consent and concurrently with the execution of any Franchise Agreement, Borrower shall deliver to Administrative Agent an executed Franchisor Comfort Letter acceptable to Administrative Agent.
The Franchisor shall have executed the Franchisor Comfort Letter.

More Definitions of Franchisor Comfort Letter

Franchisor Comfort Letter means that certain letter agreement dated as of the Closing Date among Borrower, Franchisor and Agent.

Franchisor Comfort Letter means, individually and/or collectively, as the context may require, each certain letter agreement by and among the applicable Franchisor, Security Guarantor and Agent, on behalf of Lender with respect to the Loan.

Franchisor Comfort Letter means an estoppel and recognition letter agreement between Franchisor and Lender, which letter agreement shall be acceptable to Lender, which acceptance will not be unreasonably withheld, delayed or conditioned and, after the occurrence of a Securitization, Lender shall have received written confirmation from the Rating Agencies that the terms of such letter agreement will not result in a downgrade, withdrawal or qualification of the initial, or if higher, then current ratings of the Securities.

Franchisor Comfort Letter means the letter agreement to be executed by Franchisor and the Acquiror effective on the Closing Date, which is in the form of Item 11 of the Master Addendum.

Franchisor Comfort Letter means that certain letter agreement from the Approved Franchisor, for the benefit of Lender, as the same may from time to time be amended, restated, replaced, supplemented or otherwise modified in accordance therewith.