Hallandale Sample Clauses

Hallandale. Buyer and CR Florida, LLC shall use their Best Efforts to enter into a Separate PA for the purchase of the Assets of the Hallandale Restaurant substantially on terms of other Separate PAs, but with the following additional terms: (a) the Purchase Price of the Hallandale Assets shall be Buyer’s assumption of Seller’s lease at 000 Xxxxx Xxx Xx, Xxxxxxxxxx Xxxxx, Xxxxxxx; (b) the Assets of Hallandale must be sold and transferred free and clear of all liens, claims and liabilities; (c) Buyer shall obtain on the Closing Date a temporary liquor license for the operation of the Hallandale restaurant from Florida Division of Alcoholic Beverages and Tobacco and (d) Buyer shall obtain an Assignment and Assumption of Lease, satisfactory to Buyer, for the Lease dated December 19, 2008, between the Village At Gulfstream Park, LLC and Seller for the Hallandale Restaurant at 000 Xxxxx Xxx Xx., Xxxxxxxxxx Xxxxx, Xxxxxxx 00000, which shall include amendments to the Lease for the Hallandale Restaurant satisfactory to Buyer and its counsel. The parties shall use their Best Efforts to achieve a closing on the purchase of the Hallandale Assets On January 20, 2012, or as soon thereafter as conditions to Closing can be satisfied. If such Closing cannot be completed by February 1, 2012, either Buyer or Seller shall have the right to terminate the Separate PA for Hallandale. Notwithstanding the foregoing terms, the Separate PA for Hallandale shall provide that Buyer’s obligation to Close such agreement shall in all events be subject to approval by board of directors of GCFB, in it sole business discretion. If GCFB’s board does not approve Buyer’s purchase of the Assets of Hallandale, Buyer may terminate such Separate PA without further liability.
Sample 1
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