Liquor Inventory definition

Liquor Inventory means all liquor, wine, beer and other alcoholic beverages held for sale to Hotel guests and others in the Ordinary Course or otherwise used in the operation of the Hotel.

Liquor Inventory means 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 Inventory means all wine, beer and other alcoholic beverages on hand at the Hotel as of the Transfer Time.

Examples of Liquor Inventory in a sentence

• Notwithstanding any other provision of this Agreement, the Liquor Inventory shall be sold and transferred to Buyer (or Buyer’s nominee) only in such manner as complies with applicable alcoholic beverage control Laws and the terms of the Liquor License.

• Notwithstanding any other provision of this Agreement, the Liquor Inventory shall be sold and transferred to Buyer (or Buyer’s nominee) only in such manner as complies with applicable alcoholic beverage control Laws and the terms of the Liquor Licenses.

• Seller has executed this Xxxx of Sale (Liquor Inventory) as of _____, 2011.

• There was a communication letter that included some management recommendations in regard to Negative Fund Balances, Inac- tive Funds and Liquor Inventory.

• Sellers shall receive a credit equal to the excess (if any) of (1) the book value as of the Closing Date of the Liquor Inventory and the food and beverage inventory of the Hotels, in the aggregate, transferred to Buyer at the Closing, over (2) the average book value of the Liquor Inventory and the food and beverage inventory of the Hotels, in the aggregate, during the twelve-month period immediately preceding Closing.

More Definitions of Liquor Inventory

Liquor Inventory means all wine, beer, spirits and other alcoholic beverages located at the Hotel as of the date hereof, with such additions and deletions as may hereafter occur or may have previously occurred in the ordinary course of business.

Liquor Inventory means all wine, beer, spirits and other alcoholic beverages located at the Hotels as of the Closing Date, with such additions and deletions as may hereafter occur or may have previously occurred in the Ordinary Course of business.

Liquor Inventory means the inventory of useable beer, wine and liquor located at all of the Restaurants.

Liquor Inventory means Seller’s interest in the inventory of beer, wine and liquor at all of the Restaurants, as determined on the applicable date.

Liquor Inventory means all unopened and sealed alcoholic beverages on hand at the Project as of 12:01 a.m. (Hawaii Time) on the Closing Date.

Liquor Inventory means all unopened and sealed alcoholic beverages on hand at the Hotel as of the Proration Time on the Closing Date.

Liquor Inventory shall have the meaning specified in Section 7.2.8(i). “Lounge” shall mean the bar and restaurant known as “The Lobby Lounge” and located within the Hotel. “Management Agreement” shall mean that certain Amended and Restated Hotel Management Agreement by and between Manager and Austin Hotel OC, L.P., a Delaware limited partnership (“Austin OC”) dated as of February 15, 2006 and (i) as amended by: (A) that certain First Amendment to Amended and Restated Hotel Management Agreement by and between Manager and Austin OC dated as of December 18, 2006 to be effective February 15, 2006; (B) that certain Second Amendment to Amended and Restated Hotel Management Agreement by and between 3 Manager and Austin OC dated as of February 10, 2009 to be effective January 1, 2008; (C) that certain Assignment of and Third Amendment to Amended and Restated Hotel Management Agreement by and between Manager, Austin OC and Seller dated June 30, 2010; and (D) that certain Assignment of and Fourth Amendment to Amended and Restated Hotel Management Agreement and Trademark License Agreement by and between Manager, Seller and Operating Tenant dated January 1, 2013; and (ii) as supplemented by that certain side letter agreement dated as of January 18, 2008. “Manager” shall mean Four Seasons Hotels Limited, which is the Manager of the Hotel pursuant to the Management Agreement. “Materiality Threshold” has the meaning specified in Section 7.3.2. “Office Owner” shall mean the “Owner” of the “Office Parcel” as such terms are defined in the UDD. “Operating Lease” shall mean that certain Lease Agreement dated December 31, 2012 by and between PR LCP Austin Hotel TH LLC and PLCP Austin Hotel Leaseco, LLC, a Delaware limited liability company. “Operating Tenant” shall mean PLCP Austin Hotel Leaseco, LLC, a Delaware limited liability company, the tenant under the Operating Lease and the “Owner” (as defined by the Management Agreement) under the Management Agreement. “Owner's Title Policy” shall mean a standard TLTA owner's title insurance policy issued by the Title Company in the amount of the Purchase Price. “Parking Easement” shall mean that certain Surface Parking Easement Agreement dated February 15, 2006 and recorded under document No. 200629621, as amended and restated by that certain Parking Easement Agreement dated May 17, 2006 and recorded as Document No. 0000000000 in the Real Property Records of Xxxxxx County, Texas as further: (i) amended by that certain First Amendment to Parking Ease...