Restaurant Operating Expenses definition
Restaurant Operating Expenses means (a) operating expenses that are incurred by or allocated, in accordance with the Managing Standard, to Company Restaurants in the ordinary course of business relating to the operation of the Company Restaurants, such as the cost of goods sold, labor (including wages, workers’ compensation-related expenses and other labor-related expenses for employees in respect of Company Restaurants), repair and maintenance expenses, insurance (including self-insurance), (b) local advertising expenses and Advertising Fees allocable to the Company Restaurants, (c) lease payments to third party landlords with respect to the Company Restaurants, (d) Pass-Through Amounts with respect to the Company Restaurants, (e) debt service and other amounts required to be paid in respect of Prospective Company Restaurant Properties and (f) amounts required to be paid with respect to the Company Restaurants in connection with the Company Restaurant Royalty Payments, if any.
Restaurant Operating Expenses means, collectively, (i) operating expenses that are incurred by or allocated, in accordance with the Managing Standard, to Contributed Restaurants and New Contributed Restaurants in the ordinary course of business relating to the operation of Contributed Restaurants and New Contributed Restaurants, such as the cost of goods sold (including vendor rebates), labor (including wages, incentive compensation, workers’ compensation-related expenses and other labor-related expenses for employees of Contributed Restaurants and New Contributed Restaurants), repair and maintenance expenses to the extent not capitalized, insurance (including self-insurance), local advertising expenses, Advertising Fees allocable to such Company Restaurants, litigation and settlement costs relating to the Managed Assets and other restaurant operating costs included in cost of sales, (ii) Company Restaurant License Fees, (iii) payments pursuant to Contributed Restaurant Third-Party Leases or New Contributed Restaurant Third-Party Leases and (iv) Pass-Through Amounts.
Restaurant Operating Expenses means: (a) the base restaurant management fee as set forth in the New Restaurant Agreement; (b) cost of food; (c) cost of beverages; (d) Restaurant Personnel Costs; (e) advertising and promotion expense; (f) cost of decorations; (g) dues and subscriptions related to the operation of the Restaurant; (h) cost of flowers used as general Restaurant decoration; (i) prorated cost of garbage removal and water subject to a monthly expense allocation as mutually agreed upon by the Restaurant Manager adjusted annually thereafter to reflect increases or decreases in Reorganized Debtor’s actual costs; (j) cost of gas and electricity based upon separate meters for the Restaurant; (k) cost of insurance; (l) reasonable out-of-pocket legal, accounting and professional fees and expenses for services not
Examples of Restaurant Operating Expenses in a sentence
All Restaurant Operating Expenses shall be paid only from the Contributed Restaurant Accounts.
More Definitions of Restaurant Operating Expenses
Restaurant Operating Expenses means, collectively, (i) operating expenses that are incurred by or allocated, in accordance with the Managing Standard, to Securitized Company Restaurants in the ordinary course of business relating to the operation of Securitized Company Restaurants, such as the cost of goods sold (including vendor rebates), labor (including wages, incentive compensation, workers’ compensation-related expenses and other labor- related expenses for employees in respect of Securitized Company Restaurants), repair and maintenance expenses to the extent not capitalized, insurance (including self-insurance), marketing, administration, information technology fees and similar fees allocable to such Securitized Company Restaurants (including, without limitation, fees for services that are similarly charged to Franchisees), litigation and settlement costs relating to the Securitized Assets and other restaurant operating costs included in cost of sales, (ii) payments pursuant to Securitized Company Restaurant Third-Party Leases and (iii) Pass- Through Amounts.
Restaurant Operating Expenses means, collectively, (i) operating expenses that are incurred by or allocated, in accordance with the Managing Standard, to Securitized Company Restaurants in the ordinary course of business relating to the operation of Securitized Company Restaurants, such as the cost of goods sold (including vendor rebates), labor (including wages, incentive compensation, workers’ compensation-related expenses and other labor-related expenses for employees in respect of Securitized Company Restaurants), repair and maintenance expenses to the extent not capitalized, insurance (including self-insurance), marketing, administration, information technology fees and similar fees allocable to such Securitized Company Restaurants (including, without limitation, fees for services that are similarly charged to Franchisees), litigation and settlement costs relating to the Securitized Assets and other restaurant operating costs included in cost of sales, (ii) payments pursuant to Securitized Company Restaurant Third-Party Leases and (iii) Pass-Through Amounts.