Examples of Liquor License Holder in a sentence
If allowed by applicable law, Liquor License Holder shall, as soon as possible after Closing, initiate a transfer of its Liquor Licenses to Terminating Lessors or their designee (the “Operator”).
In such event, Owner JV shall maintain liquor liability insurance in amounts currently maintained by Liquor License Holder naming Hersha Owner and Liquor License Holder as additional insureds, and shall further indemnify, defend and hold Hersha Owner, Hotel Manager and Liquor License Holder harmless from and against any liability, cost or expense arising out of Liquor License Holder’s cooperation with Owner JV during such interim period.
At the sole cost and expense of Purchaser, Seller shall (and shall cause Liquor License Holder to) reasonably cooperate with and assist Purchaser in seeking the issuance of such new Liquor License.
Failure by Liquor License Holder to agree to enter into such arrangement with Owner JV shall not be a default by Hersha Owner hereunder so long as Hersha Owner used reasonable good faith efforts to obtain Liquor License Holder’s agreement.
Promptly following the Effective Date, Owner JV shall make an application to the Authorities for a New Liquor License or for the Liquor License Consent, in the name of Owner JV or an entity designated by Owner JV, and Hersha Owner shall reasonably cooperate with Owner JV and shall encourage Liquor License Holder to reasonably cooperate with Owner JV in this regard, but without material cost, expense or liability.
If the Liquor Licenses are not obtained by Buyer, its designee or Liquor License Holder simultaneously with or upon completion of closing, the Liquor License Agreement.
If not so permitted, Buyer or its designee will, or will cause the Liquor License Holder to, submit all forms, applications and other documents required to effect such acquisition of such Liquor Licenses at the earliest date reasonably practicable, consistent with the laws of the State where the Property in question is located, in order that all Liquor Licenses may be acquired by Buyer or such Liquor License Holder at the earliest reasonably practicable time after closing for such Property.
The licenses and permits required for the sale and service of alcoholic beverages at the Property (the “Liquor Licenses”) are held by the Liquor License Holder as provided in the HMA Documents.
Terminating Lessors shall not permit Operator to attempt to obtain the liquor licenses in any manner that would diminish, prior to the Closing, the full force and effect of the Liquor Licenses maintained by Liquor License Holder in its operation of any restaurants, lounges and bars presently located within the Hotels.
The foregoing arrangement, if consummated, shall otherwise be upon such terms and conditions as Hersha Owner and Liquor License Holder shall reasonably require.