Common use of Liquor Licenses Clause in Contracts

Liquor Licenses. To the extent that the Hotel currently sells alcoholic beverages pursuant to a liquor license and/or alcoholic beverage license (collectively, the “Liquor Licenses”), Seller shall cooperate (or cause Manager to so cooperate), at no expense to Seller or Manager, in the processing of any and all necessary forms, applications and other documents with the appropriate liquor and alcoholic beverage authorities prior to Closing so that new Liquor Licenses may be issued to Buyer either upon completion of Closing or shortly thereafter. Issuance of a Liquor License to Buyer shall not be a condition precedent to its obligation to close pursuant to this Contract. To the extent not prohibited by applicable law, Seller and Buyer shall execute an interim beverage agreement in a form reasonably acceptable to Seller and Buyer whereby Buyer or Manager, as the case may be, shall be able to operate under the Liquor Licenses after Closing if necessary or required in order to continue uninterrupted alcohol sales from and after Closing. In such case, Buyer shall defend, indemnify and hold Seller harmless from and against any and all claims, liabilities costs and expenses arising out of post-Closing alcohol sales and service, and provide appropriate insurance.