Manager Advances definition

Manager Advances has the meaning set forth in the Management Agreement.
Manager Advances. This term shall have the meaning set forth in the Management Agreement.
Manager Advances means any advance of funds made by the Manager to, or on behalf of, a Securitization Entity in connection with the operation of the Franchised POD Business and other Managed Assets; provided that Business Development Transaction Advances, Real Estate Holder Advances, Product Sourcing Advances and Ad Fund Manager Advances shall not constitute Manager Advances.

Examples of Manager Advances in a sentence

  • Interest on Manager Advances shall be an expense of the Company when paid and shall accrue from the date of inception for a Manager loan, or from the date reimbursement was due for any Advance related to a deferred reimbursement.

  • Manager Advances will accrue interest at the Advance Interest Rate and shall be reimbursable on each Weekly Allocation Date in accordance with the Priority of Payments.

  • In connection with any Voluntary Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).

  • All such Collateral Manager Advances shall be repaid (together with interest thereon) out of the Interest Proceeds and Principal Proceeds on each Payment Date pursuant to the Priorities of Payment.

  • In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).


More Definitions of Manager Advances

Manager Advances means any advance (other than any advance giving rise to a Reimbursement Amount) made by the Manager (from time to time in the Manager’s sole discretion) to the Borrower in respect of one or more delinquent Lease payments which the Manager reasonably determines will ultimately be recoverable to be deposited in the Collection Account on any Settlement Date or otherwise. Outstanding Manager Advances shall bear interest at a rate per annum equal to the Applicable Rate and shall be repaid on each Settlement Date in the order of priority of payments set forth in the applicable provisions of Section 2.07(c). “Manager Default” means a “Manager Default” as defined in the Management Agreement.
Manager Advances means any advance (other than any advance giving rise to a Reimbursement Amount) made by the Manager (from time to time in the Manager’s sole discretion) to the Borrower in respect of one or more delinquent Lease payments which the Manager reasonably determines will ultimately be recoverable to be deposited in the Collection Account on any Settlement Date or otherwise. Outstanding Manager Advances shall bear interest at a rate per annum equal to the rate set forth in clause (i) of the definition of the Applicable Rate and shall be repaid on each Settlement Date in the order of priority of payments set forth in the applicable provisions of Section 2.07(c).
Manager Advances. This term shall have the meaning set forth in the Management Agreement. Manager Collection Account. An account established and maintained pursuant to the Intercreditor Agreement into which the Manager will direct (i) all payments from Lessees, (ii) all Net Cash Sales Proceeds, (iii) all Casualty Proceeds and (iv) all other proceeds and Gross Revenues related to the Containers including Miscellaneous Borrower Proceeds and Indemnification Proceeds; provided, that during the Servicing Transition Period the Manager may direct any such amounts to the DFL Collection Account.
Manager Advances has the meaning set forth in Section 2.2(a) hereof.
Manager Advances means any advance of funds made by the Manager to, or on behalf of, a Securitization Entity in connection with the operation of the Franchise Store Business, Securitized Corporate-Owned Store Business and other Securitized Assets. “Manager Advance Reimbursement Amount” means, as of any date, the amount of any unreimbursed Manager Advances and any accrued interest thereon. “Managing Standard” means standards that (a) are consistent with Current Practice or, to the extent of changed circumstances, practices, technologies, strategies or implementation methods, consistent with the standards as the Manager would implement or observe if the Securitized Assets were owned by the Manager at such time; (b) are consistent with Ongoing Practice; (c) will enable the Manager to comply in all material respects with all of the duties and obligations of the Securitization Entities under the Related Documents, the Managed Documents; (d) are in material compliance with all applicable Requirements of Law; and (e) with respect to the use and maintenance of the Securitization Entities’ rights in and to the Securitization IP, are consistent with the standards imposed by the IP License Agreements for the Franchisor. “Master Issuer” has the meaning set forth in the preamble hereto. “Master Issuer Parent” has the meaning set forth in the preamble hereto. “NAF Servicing Agreement” has the meaning set forth in the recitals hereto. “New Asset Addition Date” means, with respect to any New Asset, the earliest of (i) the date on which such New Asset is acquired by the applicable Securitization Entity, (ii) the later of (a) the date upon which the closing occurs under the applicable contract giving rise to such New Asset and (b) the date upon which all of the diligence contingencies, if any, in the contract for purchase of the applicable New Asset expire and the Securitization Entity acquiring such New Asset no longer has the right to cancel such contract and (iii) if such New Asset is a New Franchise Agreement, New Area Development Agreement or Franchisee Note, the date on which the related Securitization Entity begins receiving payments from the applicable Franchisee in respect of such New Asset. “Notes” has the meaning set forth in the recitals hereto. “Offering Memorandum” means the final private placement memorandum, dated as of July 19, 2018, relating to the Notes. “Ongoing Practice” means, in respect of any action or inaction, practices, standards and procedures that are at least a...
Manager Advances has the meaning set forth in the Management Agreement. “Manager Deposit Requirements” has the meaning set forth in the Management Agreement. “Manager-Developed IP” means all Intellectual Property (other than Excluded IP) created, developed, authored, acquired or owned by or on behalf of the Manager related to or intended to be used by (i) the Planet Fitness Brand, (ii) products or services sold or distributed under the Planet Fitness Brand, (iii) Stores, (iv) the Planet Fitness System (v) the Franchise Store Business or (vi) the Securitized Corporate-Owned Store Business, including without limitation all Improvements to any Securitization IP. “Manager IP License” means the Manager IP License, dated as of the Initial Closing Date, by and between the Franchisor, as licensor, and Manager, as licensee, as amended, supplemented or otherwise modified from time to time. “Manager Omitted Payable Sums” means, any reimbursement or payment of (A) Advances and interest thereon, (B) Servicing Fees, (C) fees, expenses and indemnities payable to the Trustee or the Servicer pursuant to the Related Documents, (D) Back-Up Manager Fees and Back-Up Manager Consent Consultation Fees or (E) other expenses due and reimbursable to such parties pursuant to the Related Documents, that, in each case, the Manager has failed or refused to include in a Interim Manager’s Certificate and that is due and payable on the related Interim Allocation Date. “Manager Termination Event” means the occurrence of an event specified in Section 7.1 of the Management Agreement. “Managing Standard” has the meaning set forth in the Management Agreement. “Master Issuer” means Planet Fitness Master Issuer LLC, a Delaware limited liability company, and its successors and assigns. “Material Adverse Effect” means (a) with respect to the Manager, a material adverse effect on (i) its results of operations, business, properties or financial condition, taken as a whole, (ii) its ability to conduct its business or to perform in any material respect its obligations under the Management Agreement or any other Related Document, (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 Related Documents; (b) with respect to the Collateral, a material adverse effect with respect to the Collateral taken as a whole, the enforceability of the terms thereof, the likelihood of the
Manager Advances means any advance (other than any advance giving rise to a Reimbursement Amount) made by the Manager (from time to time in the Manager’s sole discretion) to the Borrower in respect of one or more delinquent Lease payments which the Manager reasonably determines will ultimately be recoverable to be deposited in the Collection Account on any Settlement Date or otherwise. Outstanding Manager Advances shall bear interest at a rate per annum equal to the Applicable Rate and shall be repaid on each Settlement Date in the order of priority of payments set forth in the applicable provisions of Section 2.07(c). “Manager Default” means a “Manager Default” as defined in the Management Agreement. “Manager Event of Default” means a “Manager Event of Default” as defined in the Management Agreement. “Manager’s Fee” means as of any Settlement Date an amount equal to (i) the Reimbursable Amounts and (ii) either (a) the Base Component, without giving effect to any adjustment, amendment or other modification thereto not expressly approved in writing by the Agent (acting with the prior written consent of the Required Lenders), if the Manager is TILC or one of its Affiliates or (b) the Monthly Rent actually collected under each Portfolio Lease by the Manager on behalf of the CompanyBorrower for such calendar month multiplied by either (x) such other percentage as may be agreed among the Successor Manager, the Borrower and the 747656567 17557858 37 Fifth Amended and Restated Warehouse Loan Agreement