Parkside Cafe definition
Parkside Cafe shall have the meaning set forth in Section 3.6.3.
Parkside Cafe is a restaurant and bar facility located in the Colorado Club that is owned by the Master Association and leased to Parkside Cafe, Inc. (the "Cafe Owner"). The Cafe Owner is the holder of a liquor license for the Parkside Cafe. Subject to the terms of the Declarant Rights Assignment, at such time as Purchaser accepts assignment of the Retained Declarant Rights (as that term is defined in the Declarant Rights Assignment), Purchaser may, in its reasonable discretion, take such steps as are necessary to acquire the stock from the sole shareholder of the Cafe Owner for purposes of transferring the liquor license to Purchaser or its designee. The purchase price for the stock and the liquor license transfer shall be $1.00 plus any costs of the transfer of the stock and the liquor license.
Parkside Cafe is a restaurant and bar facility located in the Colorado Club that is owned by Parkside Cafe, Inc., an affiliate of the Seller (the "Cafe Owner") and is leased from the Master Association under that certain Lease dated March 25, 1996 as the same has been or will be amended from time to time. The Cafe Owner is the holder of a liquor license for the Parkside Cafe. The transfer of the stock of the Cafe Owner for purposes of transferring the liquor license to Purchaser or its designee shall be governed by the terms and conditions of the Purchaser Covenants. Purchaser's rights and interests for the use of and access to the Colorado Club shall be subject to the terms and conditions of the Declarant Rights Assignment.