Territory System Standards definition

Territory System Standards means the System Standards, as adapted to the Territory by Master Licensee and approved by Company in accordance with the procedure described in Paragraph 6.1 hereof.

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Territory System Standards means the standards for the participating in the System published in the Territory System Standards Manual, including but not limited to Design Standards, FF&E Standards, Marks Standards, Operations Standards, Technology Standards and Maintenance Standards and any other standards, policies, rules and procedures we promulgate about System operation and usage. Territory System Standards Manual means the Standards of Operation and Design Manual and any other manual we publish or distribute specifying the Territory System Standards. Transfer means (1) an Equity Transfer, (2) you assign, pledge, transfer, delegate or grant a security interest in all or any of your rights, benefits and obligations under this Agreement, as security or otherwise without our consent as specified in Section 9, (3) you assign (other than as collateral security for financing the Facility) your leasehold interest in (if any), lease or sublease all or any part of the Facility to any third party, (4) you engage in the sale, conveyance, transfer, or donation of your right, title and interest in and to the Facility, (5) your lender or secured party forecloses on or takes possession of your interest in the Facility, directly or indirectly, or (6) a receiver or trustee is appointed for the Facility or your assets, including the Facility. A Transfer does not occur when you pledge or encumber the Facility to finance its acquisition or improvement, you refinance it, or you engage in a Permitted Transferee transaction.

Examples of Territory System Standards in a sentence

Our inspections are solely for the purposes of checking compliance with Territory System Standards and this Agreement and will be performed in accordance with the provisions of the Italian and E.U. “Privacy” Laws.
Any replacement general manager of the Facility must complete the training program within the time specified in the Territory System Standards Manual.
You will not open to the public any material modification until we inspect it for compliance with the Approved Plans and Territory System Standards.
We may, in our discretion, permit deviations from Territory System Standards, based on local conditions and our assessment of the circumstances.
You will clean, repair, replace, renovate, refurbish, paint, and redecorate the Facility and its FF&E as and when needed to comply with Territory System Standards.
You will tell us in writing within 60 days after the Casualty whether or not you will restore, rebuild and refurbish the Facility to conform to Territory System Standards and its condition prior to the Casualty.
You will create plans and specifications for the work described in Section 3.1 (based upon the Territory System Standards and this Agreement) if we so request and submit them for our approval before starting improvement of the Location.
Your advertising materials must use the Marks correctly, and must comply with Territory System Standards or be approved in writing by us prior to publication.
You will prepare and submit other reports and information about the Facility as we may reasonably request from time to time or in the Territory System Standards Manual.
The owners of common parts would usually be all owners of any properties within a building.

More Definitions of Territory System Standards

Territory System Standards means the System Standards, as adapted to the Legal Requirements and local customs of, or appropriate to promote the commercial success of Shoppes in, the Territory by Master Licensee and approved by Company in accordance with the procedure described in Paragraph 9.1 hereof.