Major Franchisee definition
Examples of Major Franchisee in a sentence
The Applicable Percentage for a Major Franchisee Pool RAL shall be 25%.
The parties hereto expressly agree that, for purposes of this Agreement, (a) any Major Franchisee that is acquired by Block Services or an Affiliate of Block Services shall thereafter be considered a Block Office and shall cease to be considered a Major Franchisee, and (b) any Major Franchisee whose major franchise agreement is terminated and who enters into a corporate franchise agreement shall thereafter be treated as a Corporate Franchisee and shall cease to be treated as a Major Franchisee.
This provision does not restrict TPR during such one-year period from entering into option agreements or other arrangements with respect to the acquisition of a Major Franchisee or its business.
HSBC TFS shall pay to BFC an amount equal to the product of $.50 times the number of Pool RACs (other than Pool RACs issued through a Major Franchisee or a subfranchisee of a Major Franchisee) issued during the Tax Period.
Tax Masters shall pay to BFC an amount equal to the product of $.50 times the number of Pool RACs (other than Pool RACs issued through a Major Franchisee or a subfranchisee of a Major Franchisee) issued during the Tax Period.
For purposes of this provision, "Major Franchisee" means an entity holding the The Princeton Review(R) franchise for Los Angeles, California; Denver, Colorado; Westport, Connecticut; or the state of Texas.
Block Services agrees to grant such a sublicense to any Major Franchisee or affiliate of Block Services which uses the RAL Originator to make RALs or RACs to its customers.
Block Services agrees to grant such a sublicense to any Major Franchisee of Block Services which selects RAL Originator to make RALs or RACs to customers of such Major Franchisee or subfranchisees of such Major Franchisee.
Notwithstanding Tax Masters' waiver of the servicing fees pursuant to Section 8 hereof, on a date selected by Tax Masters, such date being not later than 30 days after the end of the 2003 Tax Period, Tax Masters shall pay to BFC an amount equal to the product of $.50 times the number of Pool RACs (other than Pool RACs issued through a Block Office owned by a Major Franchisee or a subfranchisee of a Major Franchisee) issued during the 2003 Tax Period ("Pool RAC Float Fee").
Concurrently with the payment of the settlement referred to in Section 2.4(c)(i), BNB shall pay to BFC an amount equal to the product of $.50 times the number of Pool RACs (other than Pool RACs issued through a Block Office owned by a Major Franchisee or a subfranchisee of a Major Franchisee) issued during the Tax Period with respect to which such settlement relates.