Liquor Inventory. “Liquor Inventory” means all liquor, wine, beer and other alcoholic beverages held for sale to Hotel guests and others in the Ordinary Course or otherwise used in the operation of the Hotel.
Liquor Inventory. Seller shall receive a credit at Closing for Seller’s unopened inventory of liquor on the Closing Date. Such credit shall be calculated at fifty percent (50%) of the unit cost of each unopened bottle of liquor.
Liquor Inventory. All liquor, wine, beer and other alcoholic beverages physically located at the Hotels and held for sale to guests and others or otherwise used in the operation of any Hotel, including (without limitation) the contents of any in-room servi-bars and mini-bars.
Liquor Inventory. All alcoholic beverages on hand at the Hotel on the Effective Date, whether issued to the food and beverage department or held in reserve storage, subject to such depletion and resupply as shall occur and be made in the normal course of business and consistent with past practices. Liquor Licenses: Any and all licenses and permits required by any governmental entities, bodies or authorities having jurisdiction over the Hotel in connection with the sale and/or consumption of alcoholic beverages at the Hotel. Liquor Personalty: All fixtures, furnishings, equipment, glassware and other expendable items, and other personal property used in the sale of alcoholic beverages on hand at the Hotel on the Effective Date, whether issued to the food and beverage department or held in reserve storage, subject to such depletion and resupplies as shall occur and be made in the normal course of business, exclusive, however, of the Liquor Inventory. Manager: Gateway Lodging Co., Inc., a Kentucky corporation. Marks: Any trademark, trade name, service xxxx, logo or other proprietary name, xxxx or design which is owned by Seller and used exclusively or primarily in connection with the Hotel or the Property, together with all the good will associated with the use of such name, xxxx or design in connection with the Hotel or the Property. Miscellaneous Hotel Assets: All concessions, Marks, logos, copyrights, goodwill, telephone numbers, assignable warranties, computer software and other items of intangible personal property to the extent owned by Seller and relating to the ownership or operation of the Hotel used in connection with the Hotel, including specifically, without limitation, all the books and records of Seller pertaining to the business of the Hotel, credit records, promotional literature, packaging materials, sales brochures, video tapes, sales manuals, customer lists, sales files and the information contained in any automated sales system maintained by Seller or Manager, but such term shall not include (i) Bookings; (ii) Hotel Contracts; (iii) the Existing Management Agreement; (iv) Permits; (v) the Liquor Assets; (vi) Cash-On-Hand or Account Cash; (vii) Deposits; (viii) Accounts Receivable; (ix) Operating Equipment and Supplies; (x) refunds, rebates, or other claims, or any interest thereon, for periods or events occurring prior to the Cut-off Time; (xi) Excluded Assets; (xii) prepaid insurance or other prepaid items; (xiii) prepaid license and permit fees; (xiv) the...
