TAO Group definition
Examples of TAO Group in a sentence
The Knicks acknowledge that Suite 16 on the tenth floor of the Arena is currently licensed to the TAO Group, in which Licensor’s parent company has a majority ownership interest.
The Rangers acknowledge that Suite 16 on the tenth floor of the Arena is currently licensed to the TAO Group, in which Licensor’s parent company has a majority ownership interest.
The storage practices, preparation, ingredients, and composition for each of the food or beverage products of each of the TAO Group Entities (i) are in compliance in all material respects with all applicable Laws, including Laws relating to food and beverage storage and preparation, and (ii) are in compliance in all material respects with all internal quality management policies and procedures of the TAO Group Entities.
Each TAO Group Entity has furnished to Hakkasan Parent a true, complete and correct copy of its Organizational Documents, all of which are in full force and effect.
Each TAO Group Employment Agreement shall be in full force and effect and shall include terms and provisions reasonably satisfactory to the Administrative Agent and Requisite Lenders.
All Equity Interests in each TAO Group Entity (other than TAO) that are owned, directly or indirectly, by TAO (the “TAO Entities Equity Interests”) are free and clear of all Encumbrances, have been duly authorized and validly issued, fully paid and nonassessable, and none of such TAO Entities Equity Interests has been issued in violation of any preemptive or similar rights and no personal liability attaches to the ownership thereof.
TAO has made available to TAO true, correct and complete copies of all material reports involving outstanding issues resulting from any material audits and inspections of the quality or safety management practices by any Governmental Authority conducted since October 1, 2018 with respect to the Venues managed or operated by the TAO Group Entities.
No TAO Group Entity has any obligation to issue or distribute to holders of any Equity Interests any dividend, distribution, evidence of indebtedness or assets of the TAO Group Entities, as the case may be.
For the avoidance of doubt, no election has been made to treat any TAO Group Entity as an association taxable as a corporation for U.S. federal income tax purposes (nor has any similar election been made for applicable state or local tax purposes), and no such election will be made, in each case, that has an effective date on or prior to the Closing Date.
As of the date of this Agreement, all premiums due and payable on such policies have been paid in full, and no written notice of cancellation, reduction in coverage or non-renewal (excluding warnings in connection with renewals in the Ordinary Course) has been received by TAO or the TAO Group Entities with respect to any material insurance policy owned or held by or covering the TAO Group Entities.