Common use of Gift Cards Clause in Contracts

Gift Cards. Beginning in Year 17 of the Term, at the same time Licensee provides to Parks its monthly report of Gross Receipts as required by Section 4.5, or in the event of a proposed assignment of this License Agreement by Licensee at any time during the Term, then at the same time Licensee submits to Parks the proposed assignment documents in accordance with Article 14 of this License, Licensee shall provide to Parks a list of all unexpired, unused, or partially used gift cards, gift certificates, or other forms of credit usable for good or services sold or rendered by Licensee at the Licensed Premises that Licensee has issued during the Term. If so directed in writing by the Commissioner, Licensee shall provide to any successor licensee the list of outstanding credits, and (a) negotiate in good faith the transfer of such credits to the new licensee or (b) make best efforts to refund the owners of such credits.

Gift Cards. Beginning in Year 17 16 of the Term, at the same time Licensee provides to Parks its monthly report of Gross Receipts as required by Section 4.5, or in the event of a proposed assignment of this License Agreement by Licensee at any time during the Term, then at the same time Licensee submits to Parks the proposed assignment documents in accordance with Article 14 of this License, Licensee shall provide to Parks a list of all unexpired, unused, or partially used gift cards, gift certificates, or other forms of credit usable for good or services sold or rendered by Licensee at the Licensed Premises that Licensee has issued during the Term. If so directed in writing by the Commissioner, Licensee shall provide to any successor licensee the list of outstanding credits, and (a) negotiate in good faith the transfer of such credits to the new licensee or (b) make best efforts to refund the owners of such credits.

Gift Cards. Beginning in Year 17 15 of the Term, at the same time Licensee provides to Parks its monthly report of Gross Receipts as required by Section 4.5, or in the event of a proposed assignment of this License Agreement by Licensee at any time during the Term, then at the same time Licensee submits to Parks the proposed assignment documents in accordance with Article 14 of this License, Licensee shall provide to Parks a list of all unexpired, unused, or partially used gift cards, gift certificates, or other forms of credit usable for good or services sold or rendered by Licensee at the Licensed Premises that Licensee has issued during the Term. If so directed in writing by the Commissioner, Licensee shall provide to any successor licensee concessionaire the list of outstanding credits, and (a) negotiate in good faith the transfer of such credits to the new licensee concessionaire or (b) make best efforts to refund the owners of such credits.