Pre-Opening Costs definition

Pre-Opening Costs shall have the meaning set forth in Section 8.7.
Pre-Opening Costs means “start-up costs” (such term used herein as defined in SOP 98-5 published by the American Institute of Certified Public Accountants) related to the acquisition, opening and organizing of new restaurants, including, without limitation, the cost of feasibility studies, staff-training, and recruiting, travel costs for employees engaged in such start-up activities advertising and rent accrued prior to opening.
Pre-Opening Costs means costs incurred by Lessee or any of its Subsidiaries prior to opening a Restaurant location including wages and salaries, hourly employee recruiting and training, initial license fees, advertising, pre-opening parties, lease expense, food cost, utilities, meals, lodging, and travel plus the cost of hiring and training the management teams.

Examples of Pre-Opening Costs in a sentence

  • All other costs attributable to the period before the Effective Time, including the cost of property and liability insurance and all Pre-Opening Costs, shall be allocated to Seller (subject to the limitations provided in Section 8.7), and all costs attributable to the period after the Effective Time shall be allocated to Buyer.

  • Notwithstanding the foregoing, at the Closing, the Interest Owners shall receive a credit in an amount equal to all such accounts funded by the Interest Owners before the Closing Date, provided that (i) such accounts were required by the Franchisor or otherwise approved by Buyer (which approval shall not be unreasonably withheld), and (ii) the Interest Owners shall not receive a credit for any account to the extent the same is intended to cover Pre-Opening Costs.

  • Interest Owners shall be responsible for all Pre-Opening Costs as provided in Section 8.15.

  • All other costs attributable to the period before the Effective Time, including the cost of property and liability insurance and all Pre-Opening Costs, shall be allocated to the Interest Owners, and all costs attributable to the period after the Effective Time shall be allocated to Buyer.

  • Seller shall also be responsible for all Pre-Opening Costs to the extent provided in Section 8.7. Seller shall pay the sales/use taxes attributed to the transfer of the personal property.


More Definitions of Pre-Opening Costs

Pre-Opening Costs means “start-up costs” (such term used herein as defined in SOP 98-5 published by the American Institute of Certified Public Accountants) related to the acquisition, opening and organizing of new or remodeled restaurants, including, without limitation, the cost of feasibility studies, staff-training, recruiting, travel costs for employees engaged in such start-up activities, advertising and rent accrued prior to opening.
Pre-Opening Costs means expenses incurred with respect to the acquisition, opening and organizing of new Stores of the Loan Parties to the extent not prohibited by this Agreement, such costs including, but not limited to, the cost of feasibility studies, staff-training and recruiting, and travel costs for employees engaged in such start-up activities; provided, however, that (a) such Pre-Opening Costs are incurred within ninety (90) days before the opening of the applicable new Store, and (b) the aggregate amount of such Pre-Opening Costs does not exceed an average of $150,000 with respect to each single location or $2,500,000 in the aggregate for all locations during any fiscal year.
Pre-Opening Costs means start-up cash expenses incurred with respect to the opening and organizing of any New Store (including, but not limited to, the cost of feasibility studies, staff-training and recruiting, and travel costs for employees engaged in such start-up activities); provided, however, that the aggregate amount of such Pre-Opening Costs does not exceed $500,000 with respect to any individual New Store and the aggregate amount of all Pre-Opening Costs for all New Stores does not exceed $6,000,000 for any trailing twelve-month period.
Pre-Opening Costs means “pre-opening costs” defined in ACS720-15 (formerly SOP 98-5) published by the American Institute of Certified Public Accountants, related to the opening and organizing of new restaurants, such costs including, without limitation, the cost of feasibility studies, staff-training, recruiting and travel costs for employees engaged in such start-up activities and preopening rent costs.
Pre-Opening Costs is added to Section 1.1 of the Loan Agreement in appropriate alphabetical order:
Pre-Opening Costs means the costs necessary to begin operations including advertising, equipment purchases, legal fees, accounting fees, consulting fees, pre-paid insurance, pre-paid rent, licensure fees, deposits (rent, utilities), requirement, staffing, and training.
Pre-Opening Costs means costs accrued by Avado or any of its Subsidiaries prior to opening a Restaurant, including wages and salaries, hourly employee recruiting and training, initial license fees, advertising, pre-opening parties, lease expense, food cost, utilities, meals, lodging, and travel plus the cost of hiring and training the management teams and excluding, for the avoidance of any doubt, any re-image of any Hops City Grill; provided that such costs shall have been disclosed in reasonable detail to the Administrative Agent and Lenders, the Administrative Agent and the Lenders shall be satisfied that the opening of such Restaurant and the incurrence of such costs and expenditures in connection therewith are permitted under this Agreement, and such costs have been approved by the Administrative Agent and Lenders.