Alcoholic Beverage Licenses Sample Clauses

Alcoholic Beverage Licenses. An affiliate of Operator, CP Hotels (U.S.) 1998 Inc., currently holds those licenses permitting the purchase, storage and sale of alcoholic beverages at the Property which are listed on Exhibit E (the “Liquor Licenses”) and shall continue to hold the Liquor Licenses as a nominee for such purposes of the Operator in accordance with the New HMA. Purchaser shall be required to purchase from Seller at the Closing, at the lesser of Seller’s cost or book value, the Unopened liquor inventory for the Hotel owned by Seller.

Alcoholic Beverage Licenses. As of the date of this Agreement the --------------------------- Parent and Purchaser have no knowledge of any fact or circumstance relating to them or the Financing Agreements which would reasonably be expected to prevent the parties from obtaining any of the Pre-Closing Licensing Approvals referred to in Section 4.14, except (i) for any facts or circumstances that could lead to a Special Regulatory Event (as defined in Article VII) and (ii) except for those matters set forth in Section 2.8 of the Company Disclosure Letter.

Alcoholic Beverage Licenses. (a) Each party agrees to cooperate and --------------------------- use commercially reasonable efforts to obtain the Regulatory Consents required from Governmental Entities in order for the Alcoholic Beverage Licenses to remain in full force and effect upon consummation of the Merger. (b) Without limiting the generality of paragraph (a) above, the Parent and the Purchaser will as promptly as practicable prepare the filings and requests for approvals set forth in Exhibit D hereto, at the direction of the Parent and --------- Purchaser the Company will sign such filings and requests (subject to the Company's approval, not to be unreasonably withheld or delayed), the Parent and Purchaser will file such filings and requests and the Parent, Purchaser and the Company will proceed diligently to obtain the Regulatory Consents that are required to be obtained prior to consummation of the Merger as indicated on Exhibit D (the "Pre-Closing License Approvals"). The Parent, Purchaser and the --------- ----------------------------- Company acknowledge that Exhibit D does not purport to list all of the Producer --------- Approvals (as defined in Article VII). (c) The Parent will give the Company written notice promptly after becoming aware of the occurrence of any Special Regulatory Event. No failure of the Parent to provide notice as required under this Section 4.14(c) shall be deemed a breach of covenant for purposes of Section 5.3(b) unless such notice was delivered more than ten (10) business days after the Parent became aware of such Special Regulatory Event.

Alcoholic Beverage Licenses. 22 ARTICLE IV....................................................... 22

Alcoholic Beverage Licenses. Assignee and Assignor agree that the alcoholic beverage license(s) for the Property are Excluded Assets and are to be held by Assignor in order to permit Assignor to operate the Property properly in accordance with the Management Agreement.

Alcoholic Beverage Licenses. The on-premises alcoholic beverage licenses identified below ("Licenses"). Buyer will pursue applications with the applicable alcoholic beverage commissions for transfer of the Licenses; Seller will cooperate with Buyer in effectuating the transfer of Licenses to Buyer. The Licenses will not be subject to suspension or revocation for any violations which may have occurred prior to Seller's cessation of business at the relevant Premises. Buyer will bear any applicable transfer costs. In the event any License cannot be transferred to Buyer, Buyer will use reasonable, good faith efforts to obtain an alternate, alcoholic beverage license permitting on-premises consumption, seven (7) days a week, at the applicable Premises. Location License -------- ------- CC#6022 D5/D6 #3238512-0015 CC#6014 D5/D6 #3106675-0560 CC#6015 D1/D2/D3/D6 #3106675-0555 CC#6044 Class C#04220