Franchise agreements, be it a McDonald's in BFE or the Arizona Coyotes, are going to have language binding the franchisee to a certain set of standards, giving the franchisor (the NHL) the right to revoke the franchise if the standards are not upheld. We actually saw an (extreme) example of this when the NBA took the Clippers away from Donald Sterling after his shenanigans hit the news.
These are, as far as I'm aware, not public, and I haven't read one. However, the League (and every other owner who I'm sure is not fond of the revenue drain the Coyotes have been throughout their entire existence) will definitely have a leg to stand on if this reaches the point where the plug needs to be pulled. I mean, in their opinion. Anyone looking rationally at the situation from outside would have identified that point as having been reached several years ago.