Cash; Etc. At the close of business on the last business day prior to the Closing Date, Seller and Buyer shall take a physical count of the Inventory and the Xxxxx Cash on hand at the Cinema (the “Xxxxx Cash”). The Xxxxx Cash on hand shall be valued at its face value, and shall be paid for separately at the Closing. As of Closing Date Seller had pre-sold tickets for use by customers of the Cinema in the ordinary course of business (“Pre-Sold Tickets”). If the use by customers of the Cinema of Pre-Sold Tickets shall exceed One Hundred Dollars ($100.00) in the aggregate during the twelve (12) months following the Closing Date (the “Pre-Sold Ticket Threshold”), Buyer shall deliver to Seller, for each calendar month during such period, after the Pre-Sold Ticket Threshold shall have been met, a notice indicating the amount of Pre-Sold Tickets used during the month in excess of the Pre-Sold Ticket Threshold, together with reasonable documentation evidencing same, and Seller shall pay to Buyer such amount within 30 days after Seller’s receipt of such notice. Seller shall not be required to reimburse Buyer for any Pre-sold Tickets used by customers after the date that is twelve (12) months following the Closing Date. (a) All Sellers’ Inventory is excluded from the Purchase Price and shall be paid for separately at the Closing valued at Seller’s cost on a first in, first out basis, provided that the amount of such Inventory does not exceed amounts that are customary in the ordinary course of the Business. Seller's Inventory shall include concession products, candy items, paper goods and other similar items, but shall not include projector bulbs, which shall be deemed to be equipment for purposes of this Agreement.
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Samples: Asset Purchase Agreement (Digital Cinema Destinations Corp.), Asset Purchase Agreement (Digital Cinema Destinations Corp.)
Cash; Etc. At the close of business on the last business day prior to the Closing Date, Seller and Buyer shall take a physical count of (i) the Inventory and the Xxxxx Cash pxxxx cash on hand at each of the Cinema Cinemas (the “Xxxxx Pxxxx Cash”), and (ii) Seller's Inventory being sold by Seller to Buyer under this Agreement. Seller's Inventory shall include concession products, candy items, paper goods and other similar items, but shall not include projector bulbs which shall be deemed to be equipment for purposes of this Agreement. The Xxxxx Pxxxx Cash on hand shall be valued at its face value, and . Inventory shall be paid for separately valued at Seller's cost, determined on a first in first out basis; provided that such Inventory does not exceed amounts that are customary in the Closingordinary course of business. As The Purchase Price shall be adjusted, as described in Section 2.6(a), by the amount of Closing Date Seller had Pxxxx Cash and Inventory on hand at each of the Cinemas. If the use by customers of any Cinema of pre-sold tickets for use sold by customers of the Cinema Seller in the ordinary course of business (“Pre-Sold Tickets”). If the use by customers of the Cinema of Pre-Sold Tickets ) shall exceed One Hundred Dollars ($100.00) in the aggregate during the twelve (12) months following the Closing Date (the “Pre-Sold Ticket Threshold”), Buyer shall deliver to Seller, for each calendar month quarter during such period, period after the Pre-Sold Ticket Threshold shall have has been met, a notice indicating the amount of Pre-Sold Tickets used during the month in excess of the Pre-Sold Ticket Threshold, together with reasonable documentation evidencing same, and Seller shall pay to Buyer such amount within 30 days after Seller’s receipt of such notice. Seller shall not be required to reimburse Buyer for any Pre-sold Tickets used by customers of any Cinemas after the date that is twelve (12) months following the Closing Date.
(a) All Sellers’ Inventory is excluded from the Purchase Price and shall be paid for separately at the Closing valued at Seller’s cost on a first in, first out basis, provided that the amount of such Inventory does not exceed amounts that are customary in the ordinary course of the Business. Seller's Inventory shall include concession products, candy items, paper goods and other similar items, but shall not include projector bulbs, which shall be deemed to be equipment for purposes of this Agreement.
Appears in 1 contract
Samples: Asset Purchase Agreement (Digital Cinema Destinations Corp.)
Cash; Etc. At the close of business on the last business day prior to the Closing Date, Seller and Buyer shall take a physical count of the Inventory and the Xxxxx Pxxxx Cash on hand at the Cinema (the “Xxxxx Pxxxx Cash”). The Xxxxx Pxxxx Cash on hand shall be valued at its face value, and shall be paid for separately at the Closing. As of the Closing Date Date, Seller had pre-will have issued or sold tickets tickets, discount vouchers or other items, in the ordinary course of business, for use by customers of the Cinema in for admission to the ordinary course Cinema, for concession items or for anything else of business value with respect to the Cinema (“Pre-Sold Tickets”). If , Pre-Sold Tickets shall not include any and all discounts, admissions, combination of tickets, or other advertising programs issued by Seller pursuant to an agreement between Seller and Movie Money Bonanza relating to the use by customers promotion of the Business that has expired (the “MMB Tickets”). Buyer agrees that it will honor at the Cinema any MMB Tickets issued for use at the Cinema prior to October 22, 2013, and Buyer will continue to honor such MMB Tickets for a period of 12-months following the Closing Date.
(a) Buyer shall be required to recognize any Pre-Sold Tickets for a period of twelve (12) following the Closing date. No more often than once each month, Buyer shall provide to Seller a list of Pre-Sold Tickets and Seller shall reimburse Buyer for recognizing the admissions, utilizing the cost of the Pre-Sold Ticket paid by the holder to Seller as the base reimbursement price. Notwithstanding the foregoing, the Seller shall not be required to recognize any Pre-Sold Tickets in any month unless the amount of the Pre-Sold Tickets presented to Buyer in that month shall exceed of One Hundred Dollars ($100.00) in the aggregate during the twelve (12) months following the Closing Date (the “Pre-Sold Ticket Threshold”), . Buyer shall deliver to Seller, Seller for each calendar month during such period, period after the Pre-Sold Ticket Threshold shall have has been met, a notice indicating the amount of Pre-Sold Tickets used during the month in excess of the Pre-Sold Ticket Threshold, Threshold together with reasonable documentation evidencing same, and Seller shall pay such amount to Buyer such amount within 30 days after Seller’s receipt of such notice. Seller shall not be required to reimburse Buyer for any Pre-sold Sold Tickets used by customers after the date that is twelve (12) months following the Closing Date.
(ab) All Sellers’ Seller’s Inventory is excluded from the Purchase Price and shall be paid for separately at the Closing valued at Seller’s cost on a first in, first out basis, provided that the amount of such Inventory does not exceed amounts that are customary in the ordinary course of the Business. Seller's Inventory shall include concession products, candy items, paper goods and other similar items, but shall not include projector bulbs, which shall be deemed to be equipment for purposes of this Agreement.
Appears in 1 contract
Samples: Asset Purchase Agreement (Digital Cinema Destinations Corp.)
Cash; Etc. At the close of business on the last business day prior to the Closing Date, Seller and Buyer shall take a physical count of the Inventory and the Xxxxx Pxxxx Cash on hand at the Cinema (the “Xxxxx Pxxxx Cash”). The Xxxxx Pxxxx Cash on hand shall be valued at its face value, and shall be paid for separately at the Closing. As of the Closing Date Date, Seller had pre-will have issued or sold tickets tickets, discount vouchers or other items, in the ordinary course of business, for use by customers of the Cinema in for admission to the ordinary course Cinema, for concession items or for anything else of business value with respect to the Cinema (“Pre-Sold Tickets”).
(a) Buyer shall not be required to recognize any Pre-Sold Tickets or, if it does recognize any such Pre-Sold Tickets, Buyer shall not be required to continue to recognize any such Pre-Sold Tickets for any particular time period. If Nevertheless, if Buyer shall decide, in its sole discretion, to recognize any Pre-Sold Tickets for any particular time period, and if the actual use by customers of the Cinema of Pre-Sold Tickets shall exceed One Hundred Dollars ($100.00) in the aggregate during the twelve (12) months following the Closing Date (the “Pre-Sold Ticket Threshold”), Buyer shall deliver to Seller, for each calendar month during such period, period after the Pre-Sold Ticket Threshold shall have been met, a notice indicating the amount of Pre-Sold Tickets used during the month in excess of the Pre-Sold Ticket Threshold, together with reasonable documentation evidencing same, and Seller shall pay such amount to Buyer or at Buyer’s Option, Buyer shall be entitled to offset such amount against amounts owed to Lessor under the New Lease Agreement, within 30 days after Seller’s receipt of such notice. Seller shall not be required to reimburse Buyer for any Pre-sold Sold Tickets used by customers after the date that is twelve (12) months following the Closing Date, but Seller agrees to hold Buyer, Buyer Parent, and their respective Affiliates harmless against any loss, claim damage or expense that relates to or arises from any decision by Buyer not to recognize any Pre-Sold Ticket at any time after the Closing Date and prior to a date that is within twelve (12) months following the Closing Date.
(ab) All Sellers’ Seller’s Inventory is excluded from the Purchase Price and shall be paid for separately at the Closing valued at Seller’s cost on a first in, first out basis, provided that the amount of such Inventory does not exceed amounts that are customary in the ordinary course of the Business. Seller's Inventory shall include concession products, candy items, paper goods and other similar items, but shall not include projector bulbs, which shall be deemed to be equipment for purposes of this Agreement.
Appears in 1 contract
Samples: Asset Purchase Agreement (Digital Cinema Destinations Corp.)
Cash; Etc. At the close of business on the last business day prior to the Closing Date, Seller and Buyer shall take a physical count of the Inventory and the Xxxxx Cash on hand at the Cinema (the “Xxxxx Cash”). The Xxxxx Cash on hand shall be valued at its face value, and shall be paid for separately at the Closing. As of Closing Date Seller had pre-sold tickets for use by customers of the Cinema in the ordinary course of business (“Pre-Sold Tickets”). If the use by customers of the Cinema of Pre-Sold Tickets shall exceed One Hundred Dollars ($100.00) in the aggregate during the twelve (12) months following the Closing Date (the “Pre-Sold Ticket Threshold”), Buyer shall deliver to Seller, for each calendar month during such period, after the Pre-Sold Ticket Threshold shall have been met, a notice indicating the amount of Pre-Sold Tickets used during the month in excess of the Pre-Sold Ticket Threshold, together with reasonable documentation evidencing same, and Seller shall pay to Buyer such amount within 30 days after Seller’s receipt of such notice. Seller shall not be required to reimburse Buyer for any Pre-sold Tickets used by customers after the date that is twelve (12) months following the Closing Date.
(a) All Sellers’ Seller’s Inventory is excluded from the Purchase Price and shall be paid for separately at the Closing valued at Seller’s cost on a first in, first out basis, provided that the amount of such Inventory does not exceed amounts that are customary in the ordinary course of the Business. Seller's Inventory shall include concession products, candy items, paper goods and other similar items, but shall not include projector bulbs, which shall be deemed to be equipment for purposes of this Agreement.
Appears in 1 contract
Samples: Asset Purchase Agreement (Digital Cinema Destinations Corp.)
Cash; Etc. At the close of business on the last business day prior to the Closing Date, Seller and Buyer shall take a physical count of the Inventory and the Xxxxx Pxxxx Cash on hand at the Cinema (the “Xxxxx Pxxxx Cash”). The Xxxxx Pxxxx Cash on hand shall be valued at its face value, and shall be paid for separately at the Closing. As of Closing Date Date, Seller had pre-sold tickets for use by customers of the Cinema in the ordinary course of business (“Pre-Sold Tickets”). If the use by customers of the Cinema of Pre-Sold Tickets shall exceed One Hundred Dollars ($100.00) in the aggregate during the twelve (12) months following the Closing Date (the “Pre-Sold Ticket Threshold”), Buyer shall deliver to Seller, for each calendar month during such period, after the Pre-Sold Ticket Threshold shall have been met, a notice indicating the amount of Pre-Sold Tickets used during the month in excess of the Pre-Sold Ticket Threshold, together with reasonable documentation evidencing same, and Seller shall pay to Buyer such amount within 30 days after Seller’s receipt of such notice. Seller shall not be required to reimburse Buyer for any Pre-sold Tickets used by customers after the date that is twelve (12) months following the Closing Date.
(a) All Sellers’ Inventory is excluded from the Purchase Price and shall be paid for separately at the Closing valued at Seller’s cost on a first in, first out basis, provided that the amount of such Inventory does not exceed amounts that are customary in the ordinary course of the Business. Seller's Inventory shall include concession products, candy items, paper goods and other similar items, but shall not include projector bulbs, which shall be deemed to be equipment for purposes of this Agreement.
Appears in 1 contract
Samples: Asset Purchase Agreement (Digital Cinema Destinations Corp.)
Cash; Etc. At the close of business on the last business day prior to the Closing Date, Seller and Buyer shall take a physical count of (i) the Inventory and the Xxxxx Cash pxxxx cash on hand at the Cinema (the “Xxxxx Pxxxx Cash”). The Xxxxx Pxxxx Cash on hand shall be valued at its face value, and . The Purchase Price shall be paid for separately adjusted, as described in Section 2.6(a), by the amount of Pxxxx Cash on hand at the ClosingCinema. As If the use by customers of Closing Date Seller had pre-sold tickets for use sold by customers of the Cinema Seller in the ordinary course of business (“Pre-Sold Tickets”). If the use by customers of the Cinema of Pre-Sold Tickets ) shall exceed One Hundred Dollars ($100.00) in the aggregate during the twelve (12) months following the Closing Date (the “Pre-Sold Ticket Threshold”), Buyer shall deliver to Seller, for each calendar month quarter during such period, period after the Pre-Sold Ticket Threshold shall have has been met, a notice indicating the amount of Pre-Sold Tickets used during the month in excess of the Pre-Sold Ticket Threshold, together with reasonable documentation evidencing same, and Seller shall pay to Buyer such amount within 30 days after Seller’s receipt of such notice. Seller shall not be required to reimburse Buyer for any Pre-sold Tickets used by customers after the date that is twelve (12) months following the Closing Date.
(a) All Sellers’ Inventory Seller’s inventory is excluded from included in the Purchase Price and shall be paid for separately at the Closing valued at Seller’s cost on a first in, first out basis, provided that the amount of such Inventory does not exceed amounts that are customary in the ordinary course of the BusinessPrice. Seller's Inventory shall include concession products, candy items, paper goods and other similar items, but shall not include projector bulbs, bulbs which shall be deemed to be equipment for purposes of this Agreement. Inventory shall be valued at Seller's cost, determined on a first in first out basis; provided that such Inventory does not exceed amounts that are customary in the ordinary course of business.
Appears in 1 contract
Samples: Asset Purchase Agreement (Digital Cinema Destinations Corp.)