Restaurant Management Agreement definition
Examples of Restaurant Management Agreement in a sentence
The Restaurant Management Agreement, if it is terminated at Closing in accordance with Section 8.2.5.
Seller shall not, without Purchaser’s prior written consent, amend the Restaurant Management Agreement.
At Closing, Seller, at Purchaser’s sole option, shall either (1) terminate the Restaurant Management Agreement at Purchaser’s sole cost and expense, or (2) assign the Restaurant Management Agreement to Purchaser.
Any prepaid, accrued or due and payable amounts, license fees, management fees (including, without limitation, the Contract Fee (as defined in the Existing Management Agreement) and the Management Fee (as defined in the Restaurant Management Agreement)), and reimbursables under the Existing Management Agreement, Restaurant Management Agreement, Starbucks License Agreement and the Radisson Franchise Agreement shall be prorated as of the Cut‑Off Time between Seller and Purchaser.
Purchaser shall receive a credit for all amounts accrued as of the Cut-Off Time but not yet due and payable under each of the Existing Management Agreement, Restaurant Management Agreement, Starbucks License Agreement and the Radisson Franchise Agreement.
Section 7.1.19, Section 7.1.20, Section 7.1.21, and Section 7.1.22, as applicable, will be deemed to be deleted from the Agreement for all purposes if Purchaser does not assume the Restaurant Management Agreement, Radisson Franchise Agreement, Existing Management Agreement or the Starbucks License Agreement, as applicable, at Closing.
Licensee agrees to submit to Licensor any modifications to the Restaurant, including any modifications to the Restaurant Management Agreement, that may affect the Hotel operations or the quality or theme of the Restaurant for Licensor’s prior written approval.
Seller shall deliver a written assignment of the Restaurant Management Agreement which assignment shall contain an estoppel provision from the Restaurant Manager stating that there are no material defaults thereunder and there are no past due amounts owed thereunder.
Party A: MARVELLOUS TECH LIMITED Party B: TOPWELL GOLD LIMITED Representative: Representative: (Signature and Seal): (Signature and Seal): Date: August 15, 2023 Date: August 15, 2023 Restaurant Management Agreement Party A: MARVELLOUS TECH LIMITED Address: ▇▇▇▇ ▇, ▇/▇, ▇▇▇▇▇ ▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇.
Upon entry into of an extension of or amendment to the Restaurant Management Agreement or a replacement management agreement for the restaurant at the Property, Borrower shall deliver to Administrative Agent, for informational purposes only, a copy of such agreement.