Common use of Operation Until Closing Clause in Contracts

Operation Until Closing. From and after January 7, 1999, the Sellers have operated and will operate the Restaurants in the ordinary course of business. Each Seller will maintain all of the Assets with respect to the Restaurants operated by such Seller in substantially the same condition (ordinary wear and tear excepted) as they were in on January 7, 1999, except for (i) Personal Property disposed of in the ordinary course of business consistent with the past operations of such Restaurant; provided, however, any such Personal Property must be replaced by similar assets of equal or greater value in like or better condition than those assets transferred or removed or (ii) Personal Property transferred among Restaurants that are subject to this Agreement. The damage or destruction of any Restaurant operated by any Seller before the Closing will not affect the Buyer's obligation to close the transactions contemplated by this Agreement. Subject to the requirements of any applicable Real Property Lease, such Seller shall proceed to repair the damage or, if such repair is not reasonably practicable in the reasonable opinion of such Seller, then such Seller shall credit to the Buyer at the Closing an amount equal to the sum of the reasonable cost (as agreed by the Buyer and the Sellers) of repairing or restoring the damaged or destroyed restaurant to substantially the same condition as immediately before the damage or destruction.

Operation Until Closing. From and after January 7June 8, 1999, the Sellers have operated and will operate the Restaurants in the ordinary course of business. Each Seller will maintain all of the Assets with respect to the Restaurants operated by such Seller in substantially the same condition (ordinary wear and tear excepted) as they were in on January 7June 8, 1999, except for (i) Personal Property disposed of in the ordinary course of business consistent with the past operations of such Restaurant; provided, however, any such Personal Property must be replaced by similar assets of equal or greater value in like or better condition than those assets transferred or removed or (ii) Personal Property transferred among Restaurants that are subject to this Agreement. The damage or destruction of any Restaurant operated by any Seller before the Closing will not affect the Buyer's obligation to close the transactions contemplated by this Agreement. Subject to the requirements of any applicable Real Property Lease, such Seller shall proceed to repair the damage or, if such repair is not reasonably practicable in the reasonable opinion of such SellerSeller prior to the Closing Date, then such Seller shall credit to the Buyer at the Closing an amount equal to the sum of the reasonable cost (as agreed by the Buyer and the Sellers) of repairing or restoring the damaged or destroyed restaurant to substantially the same condition as immediately before the damage or destruction.

Operation Until Closing. From and after Since January 723, 19991997, the Sellers have operated operated, and through the Closing Date the Sellers will operate operate, the Restaurants in the ordinary course of business. Each Seller will maintain all of the Assets with respect to the Restaurants operated by such Seller in substantially the same condition (ordinary wear and tear excepted) as they were it was in on January 723, 19991997, except for (iI) Personal Property Assets disposed of in the ordinary course of business consistent with the past operations of such Restaurant; provided, however, any such Personal Property Assets must be replaced by similar assets Assets of equal or greater value in like or better condition than those assets Assets transferred or removed or (ii) Personal Property Assets transferred among Restaurants that are subject to this Agreement. The damage or destruction of any Restaurant operated by any Seller before the Closing will not affect the Buyer's Buyers' obligation to close the transactions contemplated by this Agreement. Subject to the requirements of any applicable Real Property Lease, such Seller shall proceed to repair the damage or, if such repair is not reasonably practicable in the reasonable opinion of such Seller, then such Seller shall credit to the Buyer Buyers at the Closing an amount equal to the sum of the reasonable cost (as agreed by the Buyer Buyers and the Sellers) of repairing or restoring the damaged or destroyed restaurant to substantially the same condition as immediately before the damage or destruction.