New Restaurant definition

New Restaurant means a proposed restaurant to be developed at a Target Site.

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New Restaurant means, as of any date of determination, any Restaurant that has not yet been in operation, that has been in operation for less than twelve (12) consecutive months, or that has been owned or leased by the Borrower or any Subsidiary for less than twelve (12) consecutive months.

New Restaurant means a Restaurant under construction or in its first fiscal quarter of operation, if the results of its operation are not, and have not previously been, included in Borrower's EBITDA calculation.

Examples of New Restaurant in a sentence

• If, however, the New Restaurant Dispute remains unresolved, Mediation will commence following the opening of the New Restaurant within the time period set forth at Section 6.4.2.

• At least one representative of each participant must have the authority to negotiate a settlement of the New Restaurant Dispute.

• Subject to the provisions relating to mediators in Section 8.1, a mediator will be selected by the participants not later than one hundred eighty (180) days after the opening of the New Restaurant from a panel of three (3) candidates selected by the Dispute Resolution Entity from the region where the Target Site is located.

• The participants will comply promptly with any requests by the Arbitrator for additional documents or information relevant to the New Restaurant Dispute.

• Conversely, if trends observed during the Post Period or other evidence appear to indicate that the impact of the New Restaurant upon the Existing Site will diminish over time, a relatively smaller multiple should be used.

• The Makers hereof acknowledge that payment may be demanded by EPL upon the earlier to occur of: (i) settlement of the New Restaurant Dispute through Mediation or otherwise, (ii) conclusion of the Arbitration Proceedings, or (iii) any default by the Makers of the terms of any Franchise Agreement, or the occurrence of an event of default by which there is a violation of the terms and covenants of any other contractual obligation by the Makers hereof to EPL.

• The Royalty Deferral will apply to the royalty fees payable in respect of any month for which a decrease in sales, as compared to the same calendar month in the preceding calendar year, has occurred and will remain in effect until the conclusion of the ADR Procedures concerning the New Restaurant.

• The participants will attempt to resolve the New Restaurant Dispute with the assistance of the Mediator.

• If each of the conditions listed in Section 4.1 above have been met with respect to an Objecting Franchisee and if the Objecting Franchisee requests in writing, then commencing on the tenth (10th) day of the first (1st) calendar month following the opening of the New Restaurant, such Objecting Franchisee will be entitled to Royalty Deferral.

• After the New Restaurant is opened for business, each of EPL and the Objecting Franchisee, at its own cost, will independently monitor the performance of such Objecting Franchisee’s restaurant for a period not to exceed twelve (12) months.

More Definitions of New Restaurant

New Restaurant. Any Restaurant acquired or opened by the Company within 12 months prior to the Valuation Date.

New Restaurant means a Restaurant that is not a Transferred Restaurant; and

New Restaurant has the meaning set out in clause 4(7)(a).

New Restaurant means restaurants that are opened during the Performance Period that are either, a) a new build restaurant, or b) an “Offset” restaurant defined as relocating an existing restaurant within the same trade area (generally within 1 mile from the existing restaurant).

New Restaurant shall have the meaning set forth in Section 5.11.