Acquired Restaurants definition
Examples of Acquired Restaurants in a sentence
The risk of loss of, or damage or destruction to, any of the Acquired Restaurants to be conveyed to Purchaser under this Agreement shall be borne by Sellers until Closing.
To Sellers’ Knowledge, except for the Excluded Assets, the Purchased Assets and all Contracts identified by Seller (whether or not Purchased Contracts) constitute all of the assets used or necessary for the operation of the Acquired Restaurants as presently conducted.
The following Developer Restaurants shall not count towards fulfillment of Area Developer’s obligations under the Development Schedule: (a) the Existing Developer Restaurants, (b) any Acquired Restaurants, and (c) any New Developer Restaurants opened by Area Developer without first obtaining the approvals from BKC required under Article VI of this Agreement.
Before the Closing Date, Sellers and Purchaser shall make mutually satisfactory arrangements with respect to, or take readings or other measurements of, gas, water, electricity and other utilities at the Acquired Restaurants (the “Utilities”).
The Developer Restaurants (including each of the Existing Developer Restaurants, New Developer Restaurants and Acquired Restaurants) shall participate in the fundraising and charitable efforts of the ▇▇ ▇▇▇▇▇▇▇▇ Foundation.
Without limiting the generality of the preceding sentence RTI shall not assume and shall not be deemed to have assumed any liability, whether direct, indirect or contingent, for or in respect of any federal, state, local, or foreign income, capital gains, property transfer, value added, capital stock, franchise or other taxes imposed on Tanners or with respect to the Acquired Assets, including but not limited to, operation of the Acquired Restaurants, which accrued prior to the Closing.
Tanners shall furnish or cause to be furnished to RTI and its representatives all such information as Tanners possess or can reasonably obtain with respect to the Acquired Restaurants, the other Acquired Assets, and the Assumed Obligations.
Before the Closing Date, Sellers and Purchaser shall make mutually satisfactory arrangements with respect to, or take readings or other measurements of, gas, water, electricity and other utilities at the Acquired Restaurants (the “Utilities”); provided, however, that to the extent any post-petition claims for Utilities services come due after the Closing, such claims shall be the responsibility of the Purchaser.
For the avoidance of doubt, no amount of the Prepaid Franchise Fees shall be applied to the payment of franchise fees due for Acquired Restaurants.
As of the Closing, the operations of each of the Acquired Restaurants shall not be, and shall not be reasonably likely to become, substantially adversely affected by any state of facts, events, or conditions in existence on or before the Closing Date.