Liquor Assets definition

Liquor Assets means the inventory of alcoholic beverages at the Real Property.

Liquor Assets means collectively, the Liquor License and the Liquor Inventory.

Liquor Assets. The Liquor Licenses, Liquor Inventory, and Liquor Personalty, collectively.

Examples of Liquor Assets in a sentence

• The transfer of the Liquor Assets shall be subject to the pro-ration provisions of Section 14.1(f).

• As a result of 1) the lower unrestricted revenues anticipated during FY11, 2) the absence of other funding sources originally budgeted (JUA funding, Sale/Lease of certain Liquor Assets), and 3) the FY10 utilization of FY11 budgeted ARRA State Fiscal Stabilization Funds (Education & Government Services), the State implemented various cost savings and cost reduction measures.

• In order to comply with these statutory requirements, at Closing Purchaser (or its designee) and Liquor Seller shall execute a separate escrow agreement relating to the transfer of the Liquor Assets to Purchaser or its designee (the “Liquor Assets Escrow Agreement”), in the form of Exhibit “H” attached hereto, and the parties shall deliver a fully executed Liquor Assets Escrow Agreement to the Liquor Assets Escrow Agent.

• Notwithstanding anything to the contrary contained in this Agreement, the transfer of the Liquor Assets, including the Liquor License, is not a contingency to the transfer of the remainder of the Property to Buyer and Buyer’s obligations under this Agreement are not contingent upon the transfer of the Liquor Assets closing concurrently or at all, with the transfer of the remainder of the Property.

• On or prior to the Closing Date, Seller shall deposit into the Liquor Escrow a liquor escrow bill xx sale conveying the Liquor Assets to Buyer in the form of attached Exhibit R, which bill xx sale shall be delivered to Buyer upon close of the Liquor Escrow.

More Definitions of Liquor Assets

Liquor Assets means the Liquor Licenses, Liquor Inventory, and Liquor Personalty, collectively Liquor Inventory: Shall mean all alcoholic beverages on hand at the Hotel on the Effective Date, whether issued to the food and beverage department or held in reserve storage, subject to such depletion and resupply as shall occur and be made in the normal course of business and consistent with Past Practices.

Liquor Assets. Unopened alcoholic beverages located on the Business Premises as of the Date of Closing.

Liquor Assets means, collectively, (1) the Liquor License, (2) the inventory of foodstuffs and alcoholic and nonalcoholic beverages that are saleable to customers or guests, but excluding the foregoing items to the extent such items have not been placed in use or are unopened boxes or bottles, and (3) all furniture, fixtures and equipment located with the cocktail lounge and bar area of the Property and using the operation of those facilities.

Liquor Assets means the Liquor Licenses and Seller's inventory of alcoholic beverages as of the Closing Date which are saleable in connection with the operation of the Hotel or the restaurants, bars, function rooms and guest rooms located therein.

Liquor Assets means the Liquor Licenses owned by HIC and the inventory of alcoholic beverages owned by Claremont as of the Closing Date which are saleable in connection with the operation of the Hotel or the restaurants, bars, function rooms and guest rooms located therein.

Liquor Assets shall have the meaning assigned thereto in subsection 4.2(a).

Liquor Assets means the Liquor Licenses, together with the inventory of alcoholic beverages in or for the Riverboat.