New Owner Compensation Sample Clauses

New Owner Compensation. New Owner shall cause to be paid from the revenues and receipts collected from the Liquor Operations, all beverage purchases, all gross receipts taxes, state and local taxes and fees, license fees, professional and consultation fees, and general operating expenses of the Liquor Operations, and from the balance of the proceeds thereafter, Licensee agrees to pay to New Owner a fee (the "Services Fee") equal to $250,000.00 per month, to compensate New Owner for the Operating Supplies, fixtures, equipment, furnishings and furniture, and services to be provided by New Owner pursuant to this Agreement and not as beneficial owner; provided that said Services Fee shall be payable to New Owner upon the date of termination of this Agreement, and after payment of all other expenses incurred in connection with the Liquor Operations. If, following the payment of all expenses as set forth above, the remaining revenues from the Liquor Operations (the "Beverage Revenue Balance") are insufficient to cover payment of the full Services Fee, then New Owner shall retain the Beverage Revenue Balance as its Services Fee, and New Owner shall have no recourse to any assets of Licensee other than the Beverage Revenue Balance for the payment or satisfaction of the Services Fee. During the Term hereof, the parties agree that the revenues generated by the Liquor Operations shall be used to defray all operating expenses incurred in the Liquor Operations, all expenses incurred by Licensee or New Owner in performing their respective duties hereunder, and all other charges, including gross receipts taxes, attributable to the Liquor Operations.
Sample 1
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Related to New Owner Compensation

  • Final Compensation In the event of termination of the Executive’s employment with the Company, howsoever occurring, the Company shall pay the Executive (i) the Base Salary for the final payroll period of his employment, through the date his employment terminates; (ii) compensation at the rate of the Base Salary for any vacation time earned but not used as of the date his employment terminates; and (iii) reimbursement, in accordance with Section 2(e) hereof, for business expenses incurred by the Executive but not yet paid to the Executive as of the date his employment terminates, provided that the Executive submits all expenses and supporting documentation required within sixty (60) days of the date his employment terminates, and provided further that such expenses are reimbursable under Company policies then in effect (all of the foregoing, “Final Compensation”). Except as otherwise provided in Section 5(a)(iii), Final Compensation will be paid to the Executive within thirty (30) days following the date of termination or such shorter period required by law.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Total Compensation The compensation to be paid to Employee under this Agreement shall be in full payment for all services rendered by Employee in any capacity to the Company or any affiliate of the Company.

  • Management Fees and Compensation No Credit Party shall, and no Credit Party shall permit any of its Subsidiaries to, pay any management, consulting or similar fees to any Affiliate of any Credit Party or to any officer, director or employee of any Credit Party or any Affiliate of any Credit Party except:

  • Payment of Compensation Subject to the provisions of this paragraph, payment of the Subadviser's compensation for the preceding month shall be made within 15 days after the end of the preceding month.

  • Additional Compensation During the Term, in addition to the foregoing, the Executive shall be eligible to receive such other compensation as may from time to time be awarded him by either the Board or the Compensation Committee in its sole discretion.

  • Servicer Compensation The Servicer shall withdraw its Servicing Fee for each Mortgage Loan net of any Month End Interest payable pursuant to Section 7.6.1 from the related Custodial P&I Account prior to the remittance of such amounts to the Certificate Account with all other payments received with respect to the Mortgage Loans.

  • Management Compensation As compensation for your services in the management of the offering, we will pay you an amount equal to the management fee specified in the Invitation in respect of the Securities to be purchased by us pursuant to the Purchase Agreement, and we authorize you to charge our account with such amount. If there is more than one Representative, such compensation shall be divided among the Representatives in such proportions as they may determine.

  • Basic Compensation (a) SALARY. Executive will be paid an annual base salary of $115,000.00, subject to adjustment as provided below (the "Salary"), which will be payable in equal periodic installments according to Employer's customary payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Board of Directors not less frequently than annually, and shall be increased on each anniversary of the Effective Date during the term hereof by an amount equal to not less than ten percent (10%) of the prior year's base salary.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

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