Operating Principal definition

Operating Principal means the individual whose role is defined in Section 14.5 and who is identified in Exhibit B.

Operating Principal means the designated individual responsible for the day-to-day operation of the Restaurant. We must approve the Operating Principal and the Operating Principal must successfully complete our initial training program and all mandatory follow-up training programs. The Operating Principal must be a Principal Owner.

Operating Principal means , or another individual hereafter designated by Franchisee, and accepted by Franchisor (and until subsequently disapproved by Franchisor), to serve as the authorized representative of Franchisee, who shall hold 10% or more of the Equity of Franchisee, and who shall have the authority to act on behalf of Franchisee during the Term.

Examples of Operating Principal in a sentence

• We may periodically conduct advanced training programs for you, your Operating Principal, your Managers, and/or your employees at our office or another location that we designate.

• We will provide initial training in the System and our policies and procedures to you (or your Operating Principal, if you are an Entity), your initial manager of the Store (the “Manager”), and any other employees that we designate.

• Principal covenant that during the term of this Agreement (except as otherwise approved in writing by Licensor) Developer and Operating Principal (and any approved designee for Operating Principal) shall devote their full time, energy and best efforts to the management and operation of the development activities contemplated under this Agreement.

• The appointed Operating Principal must satisfactorily complete our designated training program.

• We may waive a portion of the initial training program or alter the training schedule if we determine that you, your Operating Principal, or your Manager have sufficient prior experience or training or have previously been trained in one of our affiliate’s franchise systems.

More Definitions of Operating Principal

Operating Principal means an equity owner of FRANCHISEE who will manage the Franchised Business and who is authorized to act for FRANCHISEE and communicate with FRANCHISOR in relation to the Franchised Business.

Operating Principal means the person designated by you and approved by us as meeting our qualifications who is responsible for overseeing the day-to-day operation of your business.

Operating Principal means , or such other individual hereafter designated by Franchisee, and accepted by Company (and until subsequently disapproved by Company), to serve as the authorized representative of Franchisee, who Franchisee acknowledges and agrees shall act as Franchisee’s representative, who shall hold 10% or more of the Equity of Franchisee, and who shall have the authority to act on behalf of Franchisee during the Term.

Operating Principal means the individual identified in Section 1.1(g).

Operating Principal means a natural person who: (i) owns directly or indirectly at least 51% Equity Interest in Franchisee and has the authority to direct the day-to-day operations of the Franchisee; (ii) has satisfactorily completed Franchisor’s Initial Training program at Franchisee’s expense; (iii) will thereafter devote full time and best efforts to the operation of the Franchised Business and have the authority and responsibility for the day-to-day management and operation of the Franchised Business and supervision of the Personnel; and (iv) serves as a primary point of contact on behalf of the Franchisee in communications with the Franchisor. The initial Operating Principal is identified in the Summary Page.

Operating Principal means an individual with primary day-to-day responsibility for the Franchise’s operations, and may or may not be you (if you are an individual) or a Principal, officer, director, or employee of yours (if you are other than an individual). We may or may not require that the General Manager have an equity interest in the Franchise.

Operating Principal in relation to a company, means any: