Restaurant Assets definition

Restaurant Assets mean assets used in or in connection with the operation of restaurants by ▇▇▇▇▇▇▇▇.
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Restaurant Assets means the personal property and fixtures purchased by Ark Shuckers pursuant to the Ark Shuckers Purchase Agreement.
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Restaurant Assets means those assets related to Sellers’ Restaurant operations, excluding any Intellectual Property. “Restaurants” means each of the restaurants located as set forth on Schedule 1.1(c), which restaurants are being acquired pursuant to this Agreement. “Restaurant Services” means the operation and management of Keke’s Breakfast Cafe quick service, casual dining, fast casual, family dining, take-out, catering and similar restaurant services, including (i) the sale of apparel, souvenirs and similar incidental retail goods and products related to such services and (ii) the online or on-demand delivery of food prepared through such services. “Schedules” means the disclosure schedules of Sellers and Purchasers, as applicable, accompanying this Agreement. “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. “Seller Closing Certificate” means a certificate, dated as of the Closing Date and signed by a duly authorized officer of each Seller, that each of the conditions set forth in Section 8.1(a) and Section 8.1(b) have been satisfied. “Seller IP” means the Owned Intellectual Property and Licensed Intellectual Property. “Seller Secretary’s Certificate” means a certificate of the Secretary (or equivalent officer) of each Seller certifying that attached thereto are certified copies of each Seller’s Organizational Documents, and true and complete copies of all resolutions of each Seller’s board of directors and shareholders or manager and members, as applicable, approving the execution, delivery and performance of this Agreement and the other Transaction Documents and the consummation of the transactions contemplated hereby and thereby, and that all such resolutions are in full force and effect and are all the resolutions adopted in connection with the transactions contemplated hereby and thereby, and certifying the names of the officers of each Seller authorized to sign this Agreement, the Transaction Documents and the other documents to be delivered hereunder and thereunder. “Seller Tax” means any Tax, if and to the extent that any Seller is or may be potentially liable under applicable Law, under Contract or on any other grounds (including, but not limited to, as a transferee or successor, under Code Section 6901 or Treasury Regulation Section 1.1502-6, as a result of any Tax sharing or other agreement, or by operation of law) for any such Tax). “Seller Tax Return” means any return, election, declaration,...
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Examples of Restaurant Assets in a sentence

  • Company Restaurant Assets such as furnishings, cooking equipment, cooking supplies and computer equipment are required to be selected and acquired by the Manager on behalf of the Company Restaurant Guarantors and disposed of in accordance with the terms of the other Transaction Documents.

  • Borrower may request that the portion of the Advance constituting contributions of funds to Ark Real Estate, Ark Shuckers and Ark Island be advanced directly to Ark Real Estate, Ark Shuckers and Ark Island to facilitate the closing on the purchase of the Real Estate Assets, the Restaurant Assets and the Property Management Assets.

  • Such Securitization Entity shall, in such event, make all assignments of such Securitized Franchise Assets, Securitized Company Restaurants (and the related Securitized Company Restaurant Assets) and Real Estate Assets necessary to effect such assignment, as applicable.

  • Any such assignment by any Securitization Entity shall be without recourse to, or representation or warranty by, such Securitization Entity and such Securitized Franchise Assets, Securitized Company Restaurants (and the related Securitized Company Restaurant Assets) and Real Estate Assets shall no longer be subject to the Lien of the Indenture.

  • The Seller and the Shareholders shall be entitled to access at reasonable times and upon reasonable notice, and shall be entitled to make photocopies at Seller's/Shareholders' expense of, all Books and Records constituting part of the Restaurant Assets, to the extent necessary for defense of audits or litigation or preparation of tax returns.

  • As used in this Security Agreement, the term "Security Documents" will mean the Merger Agreement, the Notes, the Security Agreement, the Restaurant Assets Security Agreement, the Guaranty Agreement and any other documents, instruments or agreements representing obligations of PAC and/or Guarantor to Secured Party or intended to provide security to Secured Party in connection with the Merger and the transactions contemplated by the Merger Agreement and the foregoing agreements.

  • Notwithstanding the foregoing, if ▇▇▇▇▇▇▇▇ shall have sold the Restaurant Assets as provided in (l) above and has made the loan as described in (m) above, all other conditions set forth in SECTION 9 shall have been deemed to be satisfied.

  • As a result of such assignment and assumption, each of Sub 1 and Sub 2 is a party to the Purchase Agreement (as amended by this Amendment) as a “Purchaser.” It is the intention of the Parties that Sub 1 will acquire the Restaurant Assets and Sub 2 will acquire the Franchising Assets.

  • All right, title and interest of Seller in, to and under all rights, privileges, claims, causes of action, and options relating or pertaining to the foregoing Restaurant Assets.

  • The Restaurant Assets are in compliance with TABC Regulations, liquor license requirements and applicable law.


More Definitions of Restaurant Assets

Restaurant Assets means all equipment, furniture, materials, decorations and other items located in the Leased Premises as of the Commencement Date and used in connection with the restaurant, lounge and food services business operated from the Leased Premises prior to the Commencement Date, but excluding all food and beverage products;
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Restaurant Assets means any and all assets used in connection with and regularly located at the Restaurant including any furniture, fixtures, equipment, signage, decorations, leasehold improvements and betterments, telephone numbers, any right, title or interest to any personal property leases or the Lease or other right to occupy the premises of the Restaurant and any right, title or interest to this Agreement or the Franchise.
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Restaurant Assets means all assets and property rights of any kind or character, wherever located, whether tangible or intangible (including goodwill), whether or not reflected on the Seller's books or records, currently used by the Seller in connection with the Restaurant Business, as further described in the following clauses 1.2.1 through 1.2.13, as they exist on the Closing Date; provided, however, that the Restaurant Assets shall not include the excluded assets listed on Exhibit 1.2 ("Excluded Assets"):
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Related to Restaurant Assets

  • Restaurant means a business location:

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

  • Operating Equipment means furniture, furnishings, special lighting fixtures, carpeting, draperies, decorations or other special finishing work, signs, appliances and trade fixtures and equipment that is furnished, installed or used by the Contractor in its operations on the Airport. It does not include Fixed Improvements, or repair or maintenance of Operating Equipment or Fixed Improvements or displays or decorations that are of a seasonal or temporary promotional nature.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Client Assets means assets which a bank has undertaken to hold for a client (whether or not on trust, and whether or not the undertaking has been complied with);