Duties of Operator Operator shall:
CONTINUITY OF OPERATIONS (1) Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.
Use of Areas of Operations PURCHASER shall confine equipment, storage of materials and operation to the limits indicated by contract, law, ordinances, permits or directions of the STATE's Authorized Representative. PURCHASER shall follow the STATE's Authorized Representative's instructions regarding use of the areas of operations, if any. In addition, PURCHASER shall be responsible for regular cleaning in compliance with all federal, state, and local laws rules and ordinances. Protection of Workers, Property, and Public. The PURCHASER is responsible to manage the operations to mitigate impacts to the operations, including authorized changes, which may adversely affect cost, schedule, or quality. The PURCHASER is responsible for the actions of all personnel, laborers, suppliers, and subcontractors in the performance of the operations. PURCHASER shall maintain continuous and adequate protection of all of the Work from damage, and shall protect the STATE's workers and property from injury or loss arising in connection with this contract. PURCHASER shall remedy to the STATE's satisfaction, any damage, injury, or loss, except such as may be directly due to errors in the contract or caused by authorized representatives or personnel of the STATE. PURCHASER shall adequately protect adjacent property as provided by law and the contract. PURCHASER shall take all necessary precautions for the safety of all personnel on the areas of operations, and shall comply with the contract and all applicable provisions of federal, state, and municipal safety laws to prevent accidents or injury to persons on, about or adjacent to the areas of operations. PURCHASER shall erect and properly maintain at all times, as required by the conditions and progress of the operations, all necessary safeguards for protection of workers and the public against any hazards created by the operations. PURCHASER shall designate a responsible employee or associate on the areas of operations, whose duty shall be the prevention of accidents. The name and position of the person designated shall be reported to the STATE's Authorized Representative. The STATE's Authorized Representative has no responsibility for safety on areas of operations. Safety on areas of operations is the responsibility of the PURCHASER. In an emergency affecting the safety of life or of the operation or of adjoining property, the PURCHASER, without special instruction or authorization from the STATE's Authorized Representative, shall act reasonably to prevent threatened loss or injury, and shall so act, without appeal, if instructed by the STATE's Authorized Representative. Any compensation claimed by the PURCHASER on account of emergency work shall be equitably determined.
Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.
Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.
TRANSFER OF OPERATIONS Purchaser shall be entitled to immediate possession of, and to exercise all rights arising under, the Assets from and after the time that the Restaurants open for business on the Closing Date, and operation of the Restaurants shall transfer at such time (the "Effective Time"). Except as expressly provided in this Agreement, all profits, losses, liabilities, claims, or injuries arising before the Effective Time shall be solely to the benefit or the risk of Seller. All such occurrences after the Effective Time shall be solely to the benefit or the risk of Purchaser. The risk of loss or damage by fire, storm, flood, theft, or other casualty or cause shall be in all respects upon Seller prior to the Effective Time and upon the Purchaser thereafter.
SUSPENSION OF OPERATIONS Concessionaire shall, at the direction of Department, immediately suspend, delay or interrupt Concessionaire’s operation of all or any part of the Concession Premises for such period of time as Department may determine to be appropriate to protect the Concession Premises and/or public health, safety, and welfare due to the occurrence of hazardous work conditions, emergency conditions, and/or any other cause including, but not limited to, Concessionaire's failure to perform any of the covenants, agreements, and conditions contained in this Agreement on its part to be performed. Concessionaire hereby waives any claim, and Department shall not be liable to any party claiming through Concessionaire, for damages, payment abatement, or compensation as a result of Department's actions under this Paragraph or this Agreement. Department's suspension of Concessionaire's operations shall be in addition to any other right or remedy available by law or in equity.
