Manager Deposit Requirements 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 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 European Wax Center Brand, (ii) products or services sold or distributed under the European Wax Center Brand, (iii) Centers, (iv) the European Wax Center System, or (v) the Franchised Center Business, including without limitation all Improvements to any Securitization IP.