Type 3 IHOP Restaurant definition
Type 3 IHOP Restaurant means any Restaurant that has been listed on a schedule to the Parent Asset Sale Agreement as a Type 3 IHOP Restaurant. These consist of restaurants that IHOP Inc. has identified as being potentially affected by certain misstatements, subsequently corrected, regarding registration of trademarks in Uniform Franchise Offering Circulars previously delivered to the affected Franchises.
Type 3 IHOP Restaurant. Any Restaurant that has been listed on a schedule to the Parent Asset Sale Agreement as a Type 3 IHOP Restaurant; provided that an IHOP Restaurant shall cease to be a Type 3 IHOP Restaurant at such time as the related Type 3 Assets have been transferred to the Securitization Entities in the manner contemplated by the Parent Asset Sale Agreement and the Lease Subsequent Asset Sale Agreement. These consist of IHOP Restaurants that IHOP, Inc. has identified as being potentially affected by certain misstatements in Uniform Franchise Offering Circulars previously delivered to the affected Franchisees (which misstatements were subsequently corrected) relating to the status of certain trademark registrations at the Patent and Trademark Office.