Closed Restaurants definition

Closed Restaurants means Pizza Pizza and Pizza 73 Restaurants that were included in the Royalty Pool during the immediately preceding fiscal year but which have been permanently closed prior to the Adjustment Date.
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Closed Restaurants means any Boston Pizza Restaurant that has permanently closed.
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Closed Restaurants has the meaning set forth in Section 1.02(b).
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Examples of Closed Restaurants in a sentence

  • The calculation of Additional Entitlements is designed to be accretive to Unitholders as the expected increase in Franchise Sales from the New Restaurants added to the Royalty Pool less the decrease in Franchise Sales from the Closed Restaurants is valued at a 7.5% discount.

  • The Additional Entitlements are calculated at 92.5% of the estimated Royalty and Distribution Income expected to be generated by the New Restaurants less the actual Royalty and Distribution Income lost from the Closed Restaurants, multiplied by one minus the effective tax rate estimated to be paid by the Fund, divided by the yield of the Fund, divided by the weighted average Unit price over a specified period.

  • The Additional Entitlements are calculated at 92.5% of the estimated Royalty and Distributions expected to be generated by the New Restaurants less the actual Royalty and Distributions lost from the Closed Restaurants, multiplied by one minus the effective tax rate estimated to be paid by the Fund, divided by the yield of the Fund, divided by the weighted average Fund Unit price over a specified period.

  • Rather, on future Adjustment Dates, BPI would be required to make-up the Deficiency by first adding Net Royalty and Distributions in an amount equal to the Deficiency before receiving any further Additional Entitlements (i.e. BPI only receives Additional Entitlements in respect of the cumulative amount by which Royalty and Distributions from New Restaurants exceeds actual Royalty and Distributions lost from Closed Restaurants).

  • It is possible that on an Adjustment Date the Net Royalty and Distributions is negative as a result of the estimated Royalty and Distributions expected to be generated by the New Restaurants being less than the actual Royalty and Distributions that is lost from the Closed Restaurants (the amount by which it is less is the “Deficiency”).

  • The calculation of Additional Entitlements is designed to be accretive to unitholders of the Fund (“Unitholders”) as the expected increase in Franchise Sales from the New Restaurants added to the Royalty Pool less the decrease in Franchise Sales from the Closed Restaurants is valued at a 7.5% discount.

  • The Debtors intend to complete all sales, abandon all unsold property, and surrender the keys to all Closed Restaurants by March 31, 2020.

  • The Royalty Pooled Restaurants are adjusted on January 1st of each year for New Additional Restaurants and New Closed Restaurants.

  • Rather, on future Adjustment Dates, BPI would be required to make-up the Deficiency by first adding Net Royalty and Distribution Income in an amount equal to the Deficiency before receiving any further Additional Entitlements (i.e. BPI only receives Additional Entitlements in respect of the cumulative amount by which Royalty and Distribution Income from New Restaurants exceeds actual Royalty and Distribution Income lost from Closed Restaurants).

  • De Minimis Assets include (i) property physically located at the Closed Restaurants (the “Premises”), including, but not limited to, equipment, fixtures, furniture and other personal propertyand (ii) other property otherwise associated with the Closed Restaurants, such as certain quota licenses required for the operation of their business.

Related to Closed Restaurants

  • Closed season means all times, manners of taking, and places

  • Restaurant means a business location:

  • Closed Session means a meeting or part of a meeting of a public body that is closed to the public.

  • Planning area means a planning area or a development area or a local planning area or a regional development plan area, by whatever name called, or any other area specified as such by the appropriate Government or any competent authority and includes any area designated by the appropriate Government or the competent authority to be a planning area for future planned development, under the law relating to Town and Country Planning for the time being in force and as revised from time to time;

  • Public facility means 1 or more of the following:

  • Local Access Transport Area or "LATA" is as defined in the Act.

  • Skilled Nursing Facility means an institution or part thereof that is licensed as a Skilled Nursing Facility by the State of Florida, and is accredited as a Skilled Nursing Facility by The Joint Commission or recognized as a Skilled Nursing Facility by the Secretary of Health and Human Services of the United States under Medicare.

  • Campground means that term as defined in section 12501 of the public health code, Act No. 368 of the Public Acts of 1978, being section 333.12501 of the Michigan Compiled Laws, except that campground does not include land or sites operated by this state or the federal government, and does not include a membership campground.