Uncashed Tickets Sample Clauses

Uncashed Tickets. Subject to Section 1.09, Liabilities for Uncashed Tickets.
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Uncashed Tickets. At the Closing, Shareholders and Partners shall make a cash payment to or in favor of Purchaser (or at Purchaser’s option, to Company and/or LLLP) in an amount equal to, or decrease the Purchase Price by amount equal to, the amount of the total Liabilities of Company and LLLP associated with uncashed, unclaimed or abandoned tickets, gaming chips and tokens outstanding on the Closing Date made by xxxxxx for bets placed at the Business on live events held at the Business (collective, “Uncashed Tickets”). Following the Closing, Purchaser agrees to cause Company and/or LLLP, as appropriate, to redeem such Uncashed Tickets of Company or LLLP relating to the use and operation of the Business prior to Closing, which are timely presented by patrons of the Business within the applicable Florida statutory time periods for such redemptions or, if there is no such statutory time period, within the time period for such redemptions prevailing under the Company’s past practices in the operation of the Business (“Past Redemption Practices”). For purposes of this Section 1.09, the receivables due to Company and/or LLLP with respect to Uncashed Tickets from inter-track xxxxxx placed on live events held at the Business prior to the Closing (the “Offsite Wagering”) shall be deemed to constitute a cash payment by Shareholders and Partners because such proceeds will escheat to the Company or LLLP if not claimed within 12 months of such wager pursuant to Florida law and industry practice. Within thirty (30) days following the first anniversary of the Closing, Shareholders and Partners shall make a cash payment to Purchaser, or at Purchaser’s option, to Company and/or LLLP, equal to the aggregate dollar amount of Uncashed Tickets for Offsite Wagering outstanding on the Closing Date which Purchaser, Purchaser Affiliate, Company and/or LLLP has had to make payment on during the 12 month period following the Closing. Further, Shareholders and Partners shall transfer to Purchaser, or at Purchaser’s option, to Company and/or LLLP, at the Closing all cash proceeds derived from Uncashed Tickets outstanding on the Closing Date from inter-track xxxxxx placed on events not held at the Business and Purchaser, Company and/or LLLP, as applicable, will hold such funds to offset and satisfy any liabilities owed to the pari-mutuel holding such live event for which the Uncashed Ticket relates, which liability shall be an Included Liability hereunder.
Sample 1
Uncashed Tickets. At the Closing, Seller shall make a cash payment to or in favor of Purchaser (or at Purchaser’s option, to Company) in an amount equal to, or the Purchase Price shall be decreased by an amount equal to, the amount of the total Liabilities of Company associated with uncashed, unclaimed or abandoned tickets, gaming chips, tokens and similar gaming Liabilities outstanding (collectively, “Uncashed Tickets”) on the Closing Date made by wxxxxx for bets placed at the Business on live events held at the Business. In addition, at the Closing, Seller shall make a cash payment to Purchaser (or at Purchaser’s option, to Company) in an amount equal to the aggregate dollar amount of Uncashed Tickets from inter-track wxxxxx placed on live events held at the Business prior to the Closing (the “Offsite Wagering”) which are outstanding on the Closing Date. Further, Seller shall transfer to Purchaser (or at Purchaser’s option, to Company) at the Closing all cash proceeds derived from Uncashed Tickets outstanding on the Closing Date from inter-track wxxxxx placed on events not held at the Business. EXECUTION COPY
Sample 1
Uncashed Tickets. At the Closing, Seller shall make a cash payment to or in favor of Purchaser in an amount equal to, or the Purchase Price shall be decreased by an amount equal to, the amount of the total Liabilities of Seller associated with uncashed, unclaimed or abandoned tickets, gaming chips, tokens and similar gaming Liabilities outstanding (collectively, “Uncashed Tickets”) on the Closing Date made by wxxxxx for bets placed at the Business on live events held at the Business. In addition, at the Closing, Seller shall make a cash payment to Purchaser in an amount equal to the aggregate dollar amount of Uncashed Tickets from inter-track wxxxxx placed on live events held at the Business prior to the Closing (the “Offsite Wagering”) which are outstanding on the Closing Date.
Sample 1

Related to Uncashed Tickets

  • Shipments All Products delivered pursuant to the terms of this Agreement shall be suitably packed for shipment in accordance with the Specifications and marked for shipment to Customer’s destination specified in the applicable purchase order. Shipments will be made EXW (Ex-Works, Incoterms 2000) Flextronics’s facility, at which time risk of loss and title will pass to Customer. All freight, insurance and other shipping expenses, as well as any special packing expenses not included in the original quotation for the Products, will be paid by Customer. In the event Customer designates a freight carrier to be utilized by Flextronics, Customer agrees to designate only freight carriers that are currently in compliance with all applicable laws relating to anti-terrorism security measures and to adhere to the C-TPAT (Customs-Trade Partnership Against Terrorism) security recommendations and guidelines as outlined by the United States Bureau of Customs and Border Protection and to prohibit the freight carriage to be sub-contracted to any carrier that is not in compliance with the C-TPAT guidelines.

  • Stop Payments The Fund hereby authorizes the Transfer Agent to stop payment of checks issued in payment of dividends, but not presented for payment, when the payees thereof allege either that they have not received the checks or that such checks have been mislaid, lost, stolen, destroyed or, through no fault of theirs, are otherwise beyond their control and cannot be produced by them for presentation and collection, and the Transfer Agent shall issue and deliver duplicate checks in replacement thereof, and the Fund shall indemnify Transfer Agent against any loss or damage resulting from reissuance of the checks.

  • Vending Machines Seller shall remove all monies from all vending machines, laundry machines, pay telephones and other coin-operated equipment as of the Cut-Off Time and shall retain all monies collected therefrom as of the Cut-Off Time, and Purchaser shall be entitled to any monies collected therefrom after the Cut-Off Time.

  • Chargebacks 8.1 Neither Member nor Servicer is obligated to accept any Sales Record which does not comply in all respects with the applicable Operating Regulations. Neither Member nor Servicer shall assert additional requirement(s) to the applicable Operating Regulations with respect to any Sales Record; provided, however, this provision shall not limit the right of Member or Servicer to require delivery of the data in an acceptable Settlement File.

  • Restaurants, Bars, Machines, Other Income All monies received in connection with bar, restaurant, banquet and similar and other services at the Hotel (other than amounts due from any guest and included in room rentals) prior to the close of business for each such operation for the night in which the Cutoff Time occurs shall belong to Seller, and all other receipts and revenues (not previously described in this Section 12.1) from the operation of any department of the Hotel shall be prorated between Seller and Buyer at Closing.

  • Keys All of the keys to any door or lock on the Property in Seller’s possession, if any; and

  • End Users LICENSEE agrees to require all direct recipients of Licensed Products to whom Licensed Products are sold, leased, or otherwise disposed of by LICENSEE or its sublicensees, to look only to LICENSEE and not to LICENSOR or its affiliates for any claims, warranties, or liability relating to such Licensed Products. LICENSEE agrees to take all steps to reasonably assure itself that Licensed Products sold, leased or otherwise disposed of by or for LICENSEE is being used for permitted purposes only.

  • Data Collection, Processing and Usage The Company collects, processes and uses the International Participant’s personal data, including the International Participant’s name, home address, email address, and telephone number, date of birth, social insurance number or other identification number, salary, citizenship, job title, any shares of Common Stock or directorships held in the Company, and details of all Equity Awards or any other equity compensation awards granted, canceled, exercised, vested, or outstanding in the International Participant’s favor, which the Company receives from the International Participant or the Employer. In granting the Equity Award under the Plan, the Company will collect the International Participant’s personal data for purposes of allocating shares of Common Stock and implementing, administering and managing the Plan. The Company’s legal basis for the collection, processing and usage of the International Participant’s personal data is the International Participant’s consent.

  • Customer Accounts The Bank agrees to establish and maintain the following accounts ("Accounts"):

  • Cellular Phone Employer shall provide Employee with a cellular phone for his use in performing his responsibilities with Employer. In the alternative, Employer shall pay Employee’s cellular phone expense.

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