Manager Advance definition

Manager Advance means any advance of funds made by the Manager to, or on behalf of, a Securitization Entity in connection with the operation of the Contributed Franchised Restaurant Business and other Managed Assets.

Manager Advance. The term shall have the meaning as set forth in the Management Agreement.

Manager Advance with respect to either the U.S. Manager or the Canadian Manager, has the meaning set forth in the applicable Management Agreement.

Examples of Manager Advance in a sentence

• In the event of a failed capital call, or the unavailability of a Manager Advance or Member Loan, the Manager may obtain a loan and/or credit from one or more third parties as it deems appropriate to further the business objectives of the Company.

• Principal and interest payments for a Manager Advance or Member Loan will be paid as an expense of the Company as soon as sufficient Company funds are available, or held for longer in order to build up Company reserves, at the Manager’s sole discretion.

• Loans for property acquisitions shall not be defined as a Manager Advance under this section and shall be under a separate agreement.

• However, the Collateral Manager is under no obligation to make any Collateral Manager Advance.

• If sufficient amounts are not so available, the Collateral Manager may, at its discretion, fund the payment of any shortfall by way of a Collateral Manager Advance.

More Definitions of Manager Advance

Manager Advance has the meaning set forth in the Management Agreement.

Manager Advance has the meaning assigned to such term in the Management Agreement.

Manager Advance. This term shall have the meaning set forth in Section 4.2 of the Management Agreement.

Manager Advance means an advance of funds by Manager to Issuer made pursuant to Section 5.4 hereof.

Manager Advance. This term shall have the meaning set forth in Section 8.1 of the Management Agreement.

Manager Advance with respect to either the U.S. Manager or the Canadian Manager, has the meaning set forth in the applicable Management Agreement. “Manager-Developed IP” means all applicable Intellectual Property (other than Excluded IP) created, developed, authored, acquired or owned by or on behalf of a Manager related to or intended to be used by (i) any of the Driven Securitization Brands, (ii) products or services sold or distributed under any of the Driven Securitization Brands, (iii) Branded Locations, (iv) the Driven Brands System, (v) the Contributed Franchise Business or (vi) the Securitization-Owned Locations, including, without limitation, all Improvements to any Securitization IP. “Manager Omitted Payable Sums” has the meaning set forth in the Servicing Agreement. “Manager Termination Event” means, with respect to either Manager, the occurrence of an event specified in Section 6.1(a) of the applicable Management Agreement. “Managing Standard” with respect to the U.S. Manager, has the meaning set forth in the U.S. Management Agreement, and with respect to the Canadian Manager, has the meaning set forth in the Canadian Management Agreement. “Material Adverse Effect” means: (a) with respect to the Managers, collectively, a material adverse effect on (i) their results of operations, business, properties or financial condition, taken as a whole, (ii) their ability to conduct their respective business or to perform in any material respect their respective obligations under the applicable Management Agreement or any other Transaction Document, taken as a whole, (iii) the Collateral, taken as a whole, or (iv) the ability of the Securitization Entities to perform in any material respect their obligations under the Transaction Documents; (b) with respect to the Collateral, a material adverse effect with respect to (i) any Driven Securitization Brand in any jurisdiction that is material to the business of the Securitization Entities or with respect to the Securitization IP, taken as a whole, the enforceability of the terms thereof, the

Manager Advance has the meaning set forth in Section 8.1 hereof.