Additional Restaurants. If the Partnership shall develop and operate more than one restaurant as contemplated by the Development Option Agreement, the Partners, except Manager (whose additional capital contributions shall be governed by the terms of the Employment Agreement by and among the Partnership, the General Partner and Manager), shall proportionately contribute such additional capital to the Partnership as shall be deemed necessary by the General Partner, consistent with the terms of the Development Option Agreement, when requested to do so by the General Partner. In the event RMRP shall elect not to participate in any "Additional Restaurant" (as that term is defined in the Development Option Agreement) pursuant to the terms of the Development Option Agreement, such election shall not be considered to be a default under this Agreement and such Additional Restaurant (and future Additional Restaurants) will be developed outside of the Partnership as described in the Development Option Agreement.
Appears in 1 contract
Sources: Limited Partnership Agreement (Hops Grill & Bar Inc)
Additional Restaurants. If the Partnership shall develop and operate more than one restaurant as contemplated by the Development Option Agreement, the Partners, except Manager Torrey (whose additional capital contributions shall be governed by the terms of the Employment Agreement by and among the Partnership, the General Partner and ManagerTorrey), shall proportionately contribute such additional capital to the Partnership as shall be deemed necessary by the General Partner, consistent with the terms of the Development Option Agreement, when requested to do so by the General Partner. In the event RMRP Toomy (or TC) shall elect not to participate in any "Additional Restaurant" (as that term is defined in the Development Option Agreement) pursuant to the terms of the Development Option Agreement, such election shall not be considered to be a default under this Agreement and such Additional Restaurant (and future Future Additional Restaurants) will be developed outside of the Partnership as described in the Development Option Agreement.
Appears in 1 contract
Sources: Limited Partnership Agreement (Hops Grill & Bar Inc)