Common use of Smallwares Replacement Clause in Contracts

Smallwares Replacement. On January 1 the Operator is responsible for replacing damaged, lost, and missing service xxxx as required to maintain the original inventory levels. Actual replacement expenses of up to one-half percent (0.5%) of Revenues of the Food Services operations are considered an Operating Expense and the Operator will be solely responsible for replacements over one-half percent (0.5%) of such Revenues as a non-Operating Expense.

Smallwares Replacement. On January 1 the Operator is responsible for replacing damaged, lost, and missing service xxxx ware as required to maintain the original inventory levels. Actual replacement expenses of up to one-half percent (0.5%) of Revenues of the Food Services operations are considered an Operating Expense and the Operator will be solely responsible for replacements over one-half percent (0.5%) of such Revenues as a non-Operating Expense.