Liquor Matters Sample Clauses

Liquor Matters. As to alcoholic beverage service at the Hotel: (i) the Beverage Company is the owner of all of the alcoholic beverages at the Hotel (the “Liquor Inventory”) and will remain so both before the Closing and immediately after the Closing; (ii) the Beverage Company is a corporation that is owned and controlled by employees of the Manager; and (iii) the Beverage Company operates from the Hotel pursuant to written agreements between Manager and the Beverage Company (the “Beverage Agreements”). All licenses and permits with respect to the sale of alcoholic beverages at the Hotel are owned and held by the Beverage Company, are in full force and effect and are not, to Seller’s Knowledge, conditioned or restricted except as set forth in any such license or permit. Seller does not own any interest, direct or indirect, in the Beverage Company or the Liquor 25 Inventory and Seller has no control over the management of the Beverage Company. Neither Seller nor Operating Tenant is a party to the Beverage Agreements. Seller has received no written notice (y) that a default, violation, suspension, revocation or non-renewal has occurred in the due observance or condition of any liquor license or (z) of any failure by Seller, Beverage Company or Manager to obtain any liquor license required for the Property which has not been heretofore corrected. 7.2.9
Sample 1
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Liquor Matters. (a) Seller agrees to transfer and to exercise diligent efforts to cause the Liquor Concessionaire to convey to Purchaser the Liquor Licenses and all Liquor Inventory situated at the Hotel as of the Closing Date. Purchaser agrees to purchase the Liquor License and the Liquor Inventory, all subject to the terms and conditions set forth herein. The consummation of the purchase and sale of the Liquor License contemplated by this Agreement (the “Liquor License Escrow”) shall take place concurrently with or as soon as possible after the Closing for the purchase and sale of the Property as described
Sample 1
Liquor Matters. (a) The Liquor Schedule sets forth all of the Liquor Licenses held by the Company or its Subsidiaries as of the date hereof. Such Liquor Licenses are valid and in full force and effect and constitute in all material respects all Liquor Licenses required to permit the Company and its Subsidiaries to serve alcoholic beverages at each applicable restaurant owned or operated by the Company or any of its Subsidiaries in accordance in all material respects with all applicable Laws, except that the Liquor Licenses may be subject to terms, provisions, conditions or limitations which may materially and adversely change or terminate such Liquor Licenses solely as a result of the completion of the transactions contemplated by this Agreement. The Company and its Subsidiaries have been and are in compliance in all material respects with all terms and conditions of the Liquor Licenses.
Sample 1
Liquor Matters. (a) The Company and its Subsidiaries possess all of the Liquor Licenses.
Sample 1

Related to Liquor Matters

  • Labor Matters No labor problem or dispute with the employees of the Company or any of its subsidiaries exists or is threatened or imminent, and the Company is not aware of any existing or imminent labor disturbance by the employees of any of its or its subsidiaries’ principal suppliers, contractors or customers, that could have a Material Adverse Effect.

  • Labour Matters No material work stoppage, strike, lock-out, labour disruption, dispute grievance, arbitration, proceeding or other conflict with the employees of the Corporation or the Subsidiaries currently exists or, to the knowledge of the Corporation, is imminent or pending and the Corporation and the Subsidiaries are in material compliance with all provisions of all federal, national, regional, provincial and local laws and regulations respecting employment and employment practices, terms and conditions of employment and wages and hours.

  • Franchise Matters (i) Comply in all material respects with all of its material obligations under the Franchise Agreements to which it is a party; (ii) appear in and defend any action challenging the validity or enforceability of any Franchise Agreement, except for such actions which, individually or in the aggregate, have not had and could not reasonably be expected to result in a Material Adverse Effect; (iii) give prompt notice to the Collateral Agent of (A) any written notice of default given by such Loan Party under any Franchise Agreement with respect to any Franchisee-operated Franchised Locations that generates more than $350,000 in revenues for the Loan Parties in the last Fiscal Year of the Loan Parties, (B) any written notice by a Franchisee with respect to any Franchisee-operated Franchised Locations that generates more than $350,000 in revenues for the Loan Parties in the last Fiscal Year of the Loan Parties that terminates or threatens to terminate such Franchise Agreement or withhold any payments under such Franchise Agreement, together with a copy or statement of any information submitted or referenced in support of such notices and any reply by the Loan Party or its Subsidiary, and (C) any notice or other communication received by it in which any other party to any Franchise Agreement declares a breach or default by a Loan Party or Subsidiary of any material term under such Franchise Agreement; (iv) provide Franchisees and prospective Franchisees with a Franchise Disclosure Document or other disclosure statement of similar import as required by 16 C.F.R. 436, and (v) promptly upon any material amendment, revision or modification (except for any new, modified, terminated or expired Franchise Agreement in the ordinary course of business) to the information on Schedule 6.01(q), deliver an updated Schedule 6.01(q) to the Collateral Agent.

  • Litigation; Labor Matters; Compliance with Laws (i) There is no suit, action or proceeding or investigation pending or, to the knowledge of the Company, threatened against or affecting the Company or any basis for any such suit, action, proceeding or investigation that, individually or in the aggregate, could reasonably be expected to have a material adverse effect with respect to the Company or prevent, hinder or materially delay the ability of the Company to consummate the transactions contemplated by this Agreement, nor is there any judgment, decree, injunction, rule or order of any Governmental Entity or arbitrator outstanding against the Company having, or which, insofar as reasonably could be foreseen by the Company, in the future could have, any such effect.

  • Liquor Licenses To the extent that a license or permit required for service of alcoholic beverages at the Property (a “Liquor License”) is issued to Seller, Seller shall, to the extent permitted or not prohibited by applicable laws, rules or regulations, transfer such Liquor License to Buyer at Closing. If a Liquor License cannot be transferred to Buyer by Seller or otherwise obtained by Buyer prior to the scheduled Closing, to the extent permitted or not prohibited by applicable law, Seller shall cooperate with Buyer by entering, or causing its Affiliate holding the current liquor permit for the Property to enter into, an interim alcoholic beverage management agreement with respect to the sale of alcoholic beverages at the Property in a form substantially similar to the agreement attached hereto as Exhibit J. Seller shall also assist and cooperate with Buyer if Buyer elects to apply for an interim/temporary liquor license so that alcoholic beverages may continue to be served at the Property pending issuance of the permanent Liquor License. To the extent that a Liquor License is issued to Manager, Manager shall, to the extent permitted by applicable laws, rules or regulations, continue to hold such Liquor License after Closing. To the extent that Seller and/or Manager is not able to transfer a Liquor License to Buyer at Closing, Seller and/or Manager agree to cooperate with Buyer to facilitate the issuance or transfer of the Liquor License. The foregoing provisions of this Section 8.9 notwithstanding, (i) all costs incurred by Manager and/or Seller in connection with obtaining or transferring Liquor License for the Property shall be borne by Buyer, and (ii) neither Seller nor Manager shall have any obligation to transfer an existing liquor permit to Buyer prior to Closing, and (iii) Buyer shall not obtain, and Seller and Manager shall have no obligation to pursue, any Liquor License for the Property prior to Closing if the issuance of such Liquor License would impact the rights of Seller or Manager under any existing liquor permit, and (iv) if this Contract is terminated, Buyer agrees to promptly withdraw any pending application for a Liquor License for the Property.

  • Litigation, Environmental and Labor Matters (a) There are no actions, suits, proceedings or investigations by or before any arbitrator or Governmental Authority pending against or, to the knowledge of the Borrower, threatened against or affecting the Borrower or any of its Subsidiaries (i) as to which there is a reasonable possibility of an adverse determination and that, if adversely determined, could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect or (ii) that involve this Agreement or the Transactions.

  • FDA Matters (a) The Corporation has (i) complied in all material respects with all applicable laws, regulations and specifications with respect to the manufacture, design, sale, storing, labeling, testing, distribution, inspection, promotion and marketing of all of the Corporation’s products and product candidates and the operation of manufacturing facilities promulgated by the U.S. Food and Drug Administration (the “FDA”) or any corollary entity in any other jurisdiction and (ii) conducted, and in the case of any clinical trials conducted on its behalf, caused to be conducted, all of its clinical trials with reasonable care and in compliance in all material respects with all applicable laws and the stated protocols for such clinical trials.

  • Operational Matters 7.1 The LGB shall comply with the obligations set out in Appendix 2 which deals with the day-to-day operation of, and delegation of responsibilities to, the LGB.

  • Real Property Matters The Company does not own any real property as of the date hereof and has not owned any real property during the three years preceding the date hereof.

  • Permits and Compliance 17 Section 4.9

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