Merlin Franchisor means Merlin Franchisor SPV LLC, a special purpose Delaware limited liability company and a direct, wholly owned subsidiary of Franchisor Holdco.
Merlin Franchisor means Merlin Franchisor SPV LLC, a special purpose Delaware limited liability company and a direct, wholly owned subsidiary of Franchisor Holdco. “Monthly Claims Management Profits Amount” means, with respect to each four-week or five-week fiscal period of the applicable Securitization Entities’ fiscal year, the amount (not less than zero) equal to (a) all revenue (excluding applicable Pass-Through Amounts) accrued over such period in respect of the applicable Claims Management Business minus (b) all operating expenses (excluding applicable Excluded Operating Expenses, but including, in the case of Driven Canada Claims Management, Excluded Amounts described in clause (ii) or (iii) of the definition thereof and, at the option of Driven Canada Claims Management, any such Excluded Amount required or reasonably expected to be payable at or prior to the immediately following four (4) Quarterly Payment Dates or for which a reserve is maintained on account of quarterly or annual payment of such Excluded Amounts which, in each case, will be deemed to be accrued when paid or reserved) accrued over such period in connection with the operation of the Claims Management Business over such period.