Bakery-Cafe definition
Examples of Bakery-Cafe in a sentence
Employee acknowledges that Panera or Panera’s affiliates are the owners of the Bakery-Cafe trademarks and system and that Asiago and/or Panera will provide to Employee training in and confidential information concerning the system in reliance on the covenants contained in Section 9 and Section 10 herein.
By way of example, if, with respect to a Panera Bread Bakery-Cafe, the development costs for developing and opening are $800,000, the development budget was $700,000, and Operating Member's Capital Contribution pursuant to Section 3.2A(i), (ii) and (iii) was $50,000, then Artisan would be required to make Capital Contributions of $650,000 and could elect to loan the Company and/or make additional Capital Contributions of up to $100,000.
Net Loss with respect to a closing, sale or other disposition of a Designated Bakery-Cafe shall first be allocated to the Class A Member until its Capital Account balance is zero and then any remaining Net Loss to the Class B Member and the Class C Member, if any, who have been allocated a Sharing Percentage of more than zero percent (0%) in such Designated Bakery-Cafe, in proportion to their Sharing Percentages.
Employee shall: (i) devote his entire business time, attention, and energies to the business of Asiago and the operation of the Bakery-Cafe, (ii) faithfully and competently perform his duties hereunder, and (iii) not create a situation constituting Cause as defined in Section 8.
Upon dissolution, Asiago shall have the right to elect to receive a distribution of the Bakery-Cafe owned by the Company.
Any change in the Applicable Net Profit Allocation Percentage shall not affect the calculation of the share of Adjusted Bakery-Cafe Net Profits for any Distribution Period prior to the date of such change.
In consideration of such services, the Company shall pay to Asiago a management fee equal to percent ( %) of Gross Sales for each Bakery-Cafe owned by the Company.
Subject to earlier termination as provided for in Section 8 herein, Asiago hereby employs Employee, and Employee hereby accepts employment with Asiago, as its general manager of the Bakery-Cafe (the term of such employment is referred to herein as the “Term of Employment”).
The Class B Member acknowledges and agrees that the method for determining the purchase price applicable to the Sharing Percentage associated with Bakery-Cafes will vary from Bakery-Cafe to Bakery-Cafe depending upon the amount of time that a Bakery-Cafe has been open for operations and the event giving rise to the purchase or sale right under this Agreement.
Within five (5) business days of the delivery of such notice, Operating Member shall make an additional Capital Contribution of $25,000 to the Company with respect to such Panera Bread Bakery-Cafe.