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Related Party Transactions
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4 Months Ended |
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Apr. 21, 2013
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| Related Party Transactions | |
| Related Party Transactions |
9. Related Party Transactions
The former president and majority owner of one of the Company’s former franchisees has served on the Company’s board of directors since 2009. He has announced his retirement from the board effective as of the date of the Company’s 2013 annual meeting of stockholders. The Company purchased 13 Red Robin® restaurants in Washington from this franchisee in 2006. The board member is a principal of and holds, directly or indirectly, interests of between 45% and 100% in each of three privately-held entities that hold the leases for three of the acquired Washington restaurants. These leases were assumed by the Company in connection with the acquisition. Under these leases, the Company recognized rent and other related payments in the amounts of $0.3 million and $0.4 million for the sixteen weeks ended April 21, 2013, and April 15, 2012, respectively. Future minimum lease commitments under these leases are $3.9 million as of April 21, 2013. |
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- Definition
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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