Business closure definition

Business closure means a business that has completed the formal legal process of dissolution, withdrawal or cancellation with the secretary of state.
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Business closure means the cessation of the Business within Edmonton, or the Counties of Leduc, Parkland, Strathcona, Xxxxxxxx, and the City of St. Xxxxxx and does not include a relocation of the Business to new facilities within Edmonton or the Counties of Leduc, Parkland, Strathcona, Xxxxxxxx, and the City of St. Xxxxxx.
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Business closure means the permanent or temporary shutdown of
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Examples of Business closure in a sentence

  • Sublessee shall be responsible for terminating and closing all Environmental Permits held by Sublessee (and not required to have been previously assigned to Sublessor) in accordance with Environmental Laws and shall provide Sublessor and Master Lessor with a Business Closure Report issued by the San Mateo County Environmental Health Department and a Radioactive Material License Termination issued by the relevant Governmental Authority pursuant to Section 12.01 of the Master Lease, as applicable.

  • Buyer understands and agrees that it is solely Buyer’s responsibility to obtain any and all operating agreements and Approvals necessary to operate the Property from and after the Lease Termination Date; provided, that the foregoing shall not relieve Seller of its obligations under Section 7.9 and Buyer shall have no responsibility to obtain any Approval necessary to operate the Property in connection with the conduct of the Business (including during the Business Closure Period).

  • Seller and ROC shall be liable and responsible for any and all federal, state and local income Taxes incurred in connection with the Transfer, other than any real estate transfer taxes, whether resulting from ordinary income, capital gains, or otherwise, and Seller and ROC agree that no portion of the Business Closure Escrow Amount shall be utilized for payment of such Taxes.

  • Seller shall not be permitted to satisfy any costs and expenses incurred in connection with the removal of Excluded Assets from the Business Closure Escrow Amount except with respect to Excluded Assets that are Personal Property and the proceeds of which are deposited in the Business Closure Escrow Account in accordance with this Agreement.

  • The Business Closure Escrow Amount shall be used solely to satisfy the Business Closure Costs incurred in accordance with this Agreement, including Reserved Business Closure Costs and Deferred Business Closure Costs.

  • Notwithstanding anything to the contrary contained herein, upon the seventy-two (72)-month anniversary of the Asset Closing Date, any party may instruct Escrow Agent to promptly release to Buyer any and all amounts remaining in the Business Closure Escrow Account, irrespective of whether any amounts therein have been reserved or earmarked by Seller for Deferred Business Closure Costs.

  • Upon written notice from Seller that all Business Closure Costs incurred by Seller have been satisfied, which Seller shall provide promptly after all Business Closure Costs have been satisfied, the parties hereto shall instruct the Escrow Agent to promptly release the amount remaining in the Business Closure Escrow Account, if any, to Buyer, pursuant to the terms of the Escrow Agreement.

  • Notwithstanding the foregoing, the representations and warranties of the parties hereto contained herein shall survive the delivery of the Grant, Bargain and Sale Deed and the Asset Closing and through three (3) months after the end of the Business Closure Period (the “Representation and Warranty Survival Period”).

  • Notwithstanding the foregoing, ROC shall procure and maintain fire insurance, casualty insurance, liability insurance and other insurance policies for the Property for the period after the Asset Closing through the Lease Termination Date, the premiums of which shall be payable from the Business Closure Escrow Amount.

  • Neither Seller nor ROC nor their respective Affiliates shall have any further recourse to funds released from the Business Closure Escrow Account in accordance with this Section 3.2.


More Definitions of Business closure

Business closure means the termination of the Business, including all Gaming Operations, at the Hotel/Casino.
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Related to Business closure

  • Business Case means the written reasoning behind the initiation of a Procurement Project, prepared in the form set out in Part 1 of the Procurement Project Plan at Appendix A of the Procurement Project Planning Protocol.

  • Merger Closing Date the Closing Date (as defined in the Merger Agreement).

  • Permanent Closure means ceasing operation of all or any part of the facility with the intent that the animal holding area(s) and/or manure storage area(s) will no longer be used for that purpose.

  • Merger Closing means the “Closing” as defined in the Merger Agreement.

  • Financial Closure means compliance with the requirements under Article 3.1 of this Agreement;

  • Final closure means the closure of all hazardous waste management units at the facility in accordance with all applicable closure requirements so that hazardous waste management activities pursuant to 35 Ill. Adm. Code 724 and 725 are no longer conducted at the facility unless subject to the provisions of 35 Ill. Adm. Code 722.134.

  • Acquisition Closing Date means the date on which the Acquisition is consummated.

  • Business Centre means each of the places so specified in the relevant Pricing Supplement.

  • Training Agreement means an agreement registered under the provisions of the Industrial and Commercial Training Act 1985.

  • Closing has the meaning set forth in Section 2.2.

  • Third Closing shall have the meaning ascribed to such term in Section 2.1(c).

  • Second Closing has the meaning set forth in Section 2.2.

  • First Closing has the meaning set forth in Section 2.1(a).

  • Third Closing Date has the meaning set forth in Section 2.2(c).

  • Initial Closing shall have the meaning ascribed to such term in Section 2.1.

  • Significant business transaction means any business transaction or series of transactions that, during any one fiscal year, exceeds the lesser of $25,000 or 5 percent of the total operating expense of a provider.

  • Second Closing Date means the date of the Second Closing.

  • First Closing Date shall refer to the time and date of delivery of certificates for the Firm Shares and such Optional Shares). Any such time and date of delivery, if subsequent to the First Closing Date, is called an “Option Closing Date,” shall be determined by the Representatives and shall not be earlier than three or later than five full business days after delivery of such notice of exercise. If any Optional Shares are to be purchased, each Underwriter agrees, severally and not jointly, to purchase the number of Optional Shares (subject to such adjustments to eliminate fractional shares as the Representatives may determine) that bears the same proportion to the total number of Optional Shares to be purchased as the number of Firm Shares set forth on Schedule A opposite the name of such Underwriter bears to the total number of Firm Shares. The Representatives may cancel the option at any time prior to its expiration by giving written notice of such cancellation to the Company.

  • Closings means the one or more closings of the purchase and sale of the Securities pursuant to Section 2.2.

  • Limited Conditionality Acquisition means any Acquisition that (a) is not prohibited hereunder, (b) is financed in whole or in part with a substantially concurrent incurrence of Indebtedness, and (c) is not conditioned on the availability of, or on obtaining, third-party financing.