Liquor Assets definition

Liquor Assets means the inventory of alcoholic beverages at the Real Property.

Liquor Assets means collectively, the Liquor License and the Liquor Inventory.

Liquor Assets. The Liquor Licenses, Liquor Inventory, and Liquor Personalty, collectively.

Examples of Liquor Assets in a sentence

• In order to comply with these statutory requirements, at Closing Purchaser (or its designee) and Liquor Seller shall execute a separate escrow agreement relating to the transfer of the Liquor Assets to Purchaser or its designee (the “Liquor Assets Escrow Agreement”), in the form of Exhibit “H” attached hereto, and the parties shall deliver a fully executed Liquor Assets Escrow Agreement to the Liquor Assets Escrow Agent.

• The amount deposited as the Liquor Assets Purchase Price shall be a credit to Purchaser against the Purchase Price at Closing.

• The transfer of the Liquor Assets shall be subject to the pro-ration provisions of Section 14.1(f).

• In addition to the Liquor Assets Escrow Agreement, Purchaser and Seller agree (and Seller shall cause Liquor Seller to agree) to execute such additional instruments and supplemental Escrow instructions as may be reasonably required by the Liquor Assets Escrow Agent or applicable law to consummate the transfers contemplated by the Liquor Assets Escrow Agreement and which do not substantially alter said agreement or its intent.

• Upon the closing of the Liquor Assets Escrow Agreement, the Liquor Assets Escrow Agent shall deliver to Liquor Seller the Liquor Assets Purchase Price (less any amounts disbursed to third parties by the Liquor Assets Escrow Agent from the Liquor Assets Escrow pursuant to the terms of the Liquor Assets Escrow Agreement).

More Definitions of Liquor Assets

Liquor Assets means the Liquor Licenses, Liquor Inventory, and Liquor Personalty, collectively Liquor Inventory: Shall mean all alcoholic beverages on hand at the Hotel on the Effective Date, whether issued to the food and beverage department or held in reserve storage, subject to such depletion and resupply as shall occur and be made in the normal course of business and consistent with Past Practices.

Liquor Assets. Unopened alcoholic beverages located on the Business Premises as of the Date of Closing.

Liquor Assets shall have the meaning assigned thereto in subsection 4.2(a).

Liquor Assets means the Liquor Licenses and Seller's inventory of alcoholic beverages as of the Closing Date which are saleable in connection with the operation of the Hotel or the restaurants, bars, function rooms and guest rooms located therein.

Liquor Assets means the Liquor Licenses owned by HIC and the inventory of alcoholic beverages owned by Claremont as of the Closing Date which are saleable in connection with the operation of the Hotel or the restaurants, bars, function rooms and guest rooms located therein.

Liquor Assets means, collectively, (1) the Liquor License, (2) the inventory of foodstuffs and alcoholic and nonalcoholic beverages that are saleable to customers or guests, but excluding the foregoing items to the extent such items have not been placed in use or are unopened boxes or bottles, and (3) all furniture, fixtures and equipment located with the cocktail lounge and bar area of the Property and using the operation of those facilities.

Liquor Assets means the Liquor Licenses, together with the inventory of alcoholic beverages in or for the Riverboat.