OSS Restaurant definition

OSS Restaurant means any Bonefish Grill restaurant in which none of (i) Seller, BGH, or any BG Principal; or (ii) any entity in which Seller, BGH or any BG Principal or any immediate family member of a BG Principal owns an ownership or beneficial interest, directly or indirectly through one or more subsidiary entities; own, directly or indirectly through one or more subsidiary entities, any equity interest, (other than ownership of capital stock of Outback Steakhouse, Inc., a Delaware corporation and Affiliate of Buyer). For purposes of this Agreement "Adjusted Gross Sales" shall mean gross sales reduced by (i) discounts and complimentary food and beverages, (ii) sales and other taxes and surcharges collected for transmittal to taxing authorities, (iii) revenues received from the sale of gift certificates until redeemed, and (iv) revenue from catering activities done for charitable, marketing or community involvement purposes. The Royalty shall be payable no less frequently than quarterly.
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OSS Restaurant means any Bonefish Grill restaurant in which none of (i) Seller, BGH, or any BG Principal; or (ii) any entity in which Seller, BGH or any BG Principal or any immediate family member of a BG Principal owns an ownership or beneficial interest, directly or indirectly through one or more subsidiary entities; own, directly or indirectly through one or more subsidiary entities, any equity interest (other than ownership of capital stock of Outback Steakhouse, Inc., a Delaware corporation and Affiliate of Buyer). For purposes of this Agreement “Adjusted Gross Sales” shall mean gross sales reduced by (i) discounts and complimentary food and beverages, (ii) sales and other taxes and surcharges collected for transmittal to taxing authorities, (iii) revenues received from the sale of gift certificates until redeemed, and (iv) revenue from catering activities done for charitable, marketing or community involvement purposes. The Seller Royalty and Buyer Royalty shall be payable no less frequently than quarterly.
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Examples of OSS Restaurant in a sentence

  • During the employment of the BG Principals with Buyer or any Affiliate of Buyer, Buyer shall pay to Seller a royalty from each "OSS Restaurant" in an amount equal to one percent (1%) of Adjusted Gross Sales ("Royalty").

Related to OSS Restaurant

  • Restaurant means a business location:

  • Restaurants means a business that prepares and serves food and drinks to customers.

  • Casino means a casino as defined in section 1 of the KwaZulu-Natal Gaming and Betting Act, 2010 (Act No. 8 of 2010);

  • Hotel means any establishment used for the purpose of temporary, overnight lodging for which a fee is paid and reservations are required.

  • Resort Site means those parts of Burswood Island as are-