Lowe's Clause Samples

Lowe's. During the Term and for the period described in paragraph 5(d) hereof following the termination or expiration of this agreement, Lowe's shall not (i) engage in discussions or negotiations, or enter into any agreement with third parties to develop, or develop on its own, the On-Site Rental Concept, or (ii) engage directly or indirectly in the equipment rental business (except for e-commerce initiatives), which includes without limitation any arrangement with companies engaged in the equipment rental business such as United Rentals, Inc. and Hertz Corporation. Notwithstanding the foregoing, for each calendar year during the Term, Lowe's shall be permitted to open and operate (on its own without any third party) up to ten (10) equipment rental stores at ▇▇▇▇'▇ Home Improvement Centers so long as all of the following conditions have been satisfied: (w) such stores are located in a ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ("▇▇▇") that is not in the top fifty (50), (x) there is a Home Depot in such MSA that has an equipment rental program, (y) NRI declines the opportunity to open and operate an On-Site Rental Store at such Lowe's Store, after NRI has had at least six (6) months to evaluate such opportunity, and (z) during such six-month period, the parties have negotiated in good faith alternative ways to operate equipment rental at such stores, including franchising, licensing or management arrangements on terms and conditions mutually agreed between the parties. In addition, notwithstanding anything to the contrary in this agreement, the prohibitions or limitations on Lowe's operating its own equipment rental business shall not apply to a Participating Lowe's Store if at such store the On-Site Rental Store lease terminates or is not renewed for any reason.