GBGC definition
Examples of GBGC in a sentence
To the knowledge of Seller and GBGC, there are no structural defects relating to any Leased Real Estate.
All such items are in working order, subject to normal wear and use, and are usable in the ordinary course of business conducted by GBGC and IMG.
Further, no written notice has been received by Seller, GBGC or any of their respective Subsidiaries and, to the knowledge of Seller and GBGC, no state of facts exists or has existed which would constitute grounds for the assessment of any Federal income Tax liability against any of them with respect to the periods which have not been audited by the IRS.
All amounts required to be withheld by GBGC and IMG in connection with amounts paid or owing to any employee, independent contractor or other third party have been collected and withheld, and either paid to the respective governmental agencies, set aside in accounts for such purpose, or accrued, reserved against and entered upon the books and records of the employer.
None of Seller, GBGC nor their respective Subsidiaries have received any written notice from any city, village or other governmental entity of any zoning, ordinance, land use, building, fire or health code or other legal violation in respect of any Owned Property, other than violations which have been corrected and violations which could not reasonably be expected, individually or in the aggregate, to have a Seller or GBGC Material Adverse Effect.
Seller agrees that it shall not, for at least one year after the Closing Date, directly or indirectly (including through a franchise or license arrangement) solicit or initiate proposals or engage in negotiations with respect to the lease, purchase, ownership or operation of the site referred to in the agreement dated as of May 4, 1998 between Bare Hills Associates and GBGC.
Neither Seller, GBGC nor their respective Subsidiaries nor their assets, properties or business, are subject to any judgment, order, writ, injunction or decree of any court, governmental agency or arbitration tribunal.
Licensees agree that all persons providing golf instructional services to patrons at the Golf Facilities using the Teaching Program will be certified as instructors in accordance with the training program acquired by Licensor (the "Instructor Program"), which certification will require them to successfully complete the training programs and experience requirements heretofore established by Old GBGC for such Instructor Program.
The stock certificate books, stock transfer ledgers and/or capital account records, as applicable, of GBGC and IMG as previously made available to Buyer for inspection, are true and complete.
Except as set forth on Schedule 4.8 hereto, there are no material liabilities or obligations (whether absolute, accrued, contingent or otherwise) with respect to either Seller or GBGC, except (i) liabilities, obligations or contingencies which are accrued or reserved against in the Company Balance Sheets, and (ii) normally recurring liabilities incurred after the Balance Sheet Date in the ordinary course of business and consistent with past practice.