Payments to Merchant. (a) As a guaranty of Agent’s performance hereunder, Agent shall pay Merchant an amount equal to seventy-seven percent (77.0%) (the “Guaranty Percentage”) of the aggregate Cost Value of the Merchandise included in the Sale (the “Guaranteed Amount”). Agent shall pay to Merchant the Guaranteed Amount in the manner and at the times specified in, as applicable, Section 3.3 and Section 16 below.
Payments to Merchant. (a) (i) As a guaranty of Agent’s performance hereunder, Merchant shall receive from Agent the sum of 77% of the aggregate Cost Price of the Merchandise, except for Transfer Merchandise and Warehouse Merchandise received at the Stores on and after the Cutoff Date, as to which such percentage shall be the product of 77% times the complement of the then prevailing Store Closing Sale discount at the time of the receipt of such Merchandise at the Stores (the “Guaranteed Amount”). The “
Payments to Merchant. (a) As a guaranty of Purchaser and JV Agent’s performance hereunder (including, without limitation, in their respective capacities as Agent) and as consideration under the APA, Purchaser and JV Agent jointly and severally guarantee that Merchant shall receive $74,150,000.00 (the “Guaranteed Amount”). Agent shall pay to Merchant the Guaranteed Amount due to Merchant (if any) in the manner and at the times specified in Section 3.3.
Payments to Merchant. (a) (i) As a guaranty of Agent's performance hereunder, Merchant shall receive from Agent the sum of 86.5% of the aggregate Cost Value of the Merchandise (the "GUARANTEED AMOUNT") plus all xxxxx cash on hand at the Stores on a dollar for dollar basis. "
Payments to Merchant. (a) (i) As a guaranty of Agent's performance hereunder, Merchant shall receive from Agent the sum of 45.55% of the aggregate Retail Price of the Merchandise, less any credits provided for Returned Merchandise under Section 8.5 hereof ("Guaranteed Amount"), plus the payment of all Sale Expenses.
Payments to Merchant. (a) Subject to Merchant’s compliance in all material respects with all representations, warranties, covenants, terms and conditions set forth in this Agreement, as a guaranty of Agent’s performance hereunder, Agent guarantees that Merchant shall receive ninety percent (90.0%) (the “Guaranty Percentage”) of the aggregate Cost Value of the Merchandise (the “Guaranteed Amount”), which Guaranteed Amount shall be paid at such times and in such manner as shall hereinafter be provided. The Agent shall pay to Merchant the Guaranteed Amount and the Sharing Amount due to Merchant (if any) in the manner and at the times specified in Section 3.3. The Guaranteed Amount will be calculated based upon the aggregate Cost Value of the Merchandise as determined by (A) the final certified report of the Inventory Taking Service after verification and reconciliation thereof by Agent and Merchant; (B) the aggregate Cost Value of the Merchandise subject to Gross Rings; and (C) any other adjustments to Cost Value as expressly contemplated by this Agreement.
Payments to Merchant. (a) CitiFinancial will pay Merchant the total amount shown in the Sales Data submitted by Merchant utilizing the Program System less: (1) the amount of any credit reflected in the Sales Data; and (2) the product of multiplying the total Indebtedness in the Sales Data by the applicable Discount Fee defined below, if any, on the date of payment by CitiFinancial; and (3) any amount to be charged to Merchant or owed by Merchant to CitiFinancial under this Agreement. All payments will be affected by electronic funds transfer to Merchant's bank account with fax confirmation to Merchant in accordance with Program Procedures. For the purposes hereof, the Discount Fee will be that rate (expressed as a percentage) established by CitiFinancial. The Discount Fee (and corresponding rate) will be communicated to the Merchant in writing or orally at the time CitiFinancial and Merchant sign this Agreement. Throughout the term of this Agreement, CitiFinancial will be entitled to revise the Discount Fee, provided that such revised Discount Fee is communicated to Merchant. Continued use of the CitiFinancial Revolving Charge Plan and Program after receipt of a revision to the Discount Fee will signify acceptance of the revised Discount Fee by Merchant.
Payments to Merchant. 7 -------------------- 3.2 Compensation to Agent............................................. 7 --------------------- 3.3 Time of Payments.................................................. 8 ---------------- Section 4. Expenses of the Sale.......................................... 8 --------- -------------------- 4.1 Expenses........................................................... 8 -------- 4.2 Payment of Expenses............................................... 10 ------------------- Section 5. Inventory Valuation; Merchandise.............................. 10 --------- -------------------------------- 5.1 Inventory Taking.................................................. 10 ---------------- 5.2 Valuation......................................................... 10 --------- 5.3 Gross Rings....................................................... 10 ----------- 5.4 Post-Closing Payment.............................................. 10 -------------------- 5.5 Additional Inventory.............................................. 11 -------------------- 5.6 Merchandise Subject to this Agreement............................. 12 ------------------------------------- Excluded Goods............................................................. 12 -------------- Section 6. Sale Term..................................................... 13 --------- --------- 6.1 Term.............................................................. 13 ---- 6.2 Vacating the Stores............................................... 13 ------------------- Section 7. Sale Proceeds................................................. 13 --------- ------------- 7.1 Proceeds.......................................................... 13 -------- 7.2 Deposit of proceeds............................................... 14 ------------------- 7.3 Credit Card Proceeds.............................................. 14 -------------------- Section 8 Conduct of the Sale........................................... 14 --------- ------------------- 8.1 Rights of Agent................................................... 14 --------------- 8.2 Terms of Sales to Customers....................................... 15 --------------------------- 8.3 Sales Taxes....................................................... 15 ----------- 8.4 Supplies.......................................................... 16 -------- 8.5 Returns of Merchandise............................................ 16 ---------------------- 8.6 Layaway, Repair and ...
Payments to Merchant. (a) As a guaranty of Agent's performance hereunder, Merchant shall receive from Agent the sum of 77% of the aggregate Cost Value of the Saleable Inventory included in the Closing Merchandise Inventory (determined in accordance with section 5.4 below), plus (ii) the amount payable for the Defective Merchandise as agreed to by Agent and Merchant (the "Defective --------- Merchandise Amount") plus (iii) the Additional Inventory Amount (the amounts ------------------ payable under clauses (i), (ii), and (iii) are collectively referred to herein as the "Guaranteed Amount"); provided, however, that Agent shall have no ----------------- -------- ------- obligation hereunder to pay any amount to Merchant with respect to Defective Merchandise for which Merchant and Agent are unable to agree upon a Cost Value (as adjusted for the applicable prevailing discount price) or Merchandise received at the Stores on or after the 30th day after the Sale Commencement Date.
Payments to Merchant. (a) Subject to any adjustment set forth herein, as a guaranty of Agent’s performance hereunder, Agent guarantees that Merchant shall receive aggregate cash consideration of Thirty-Six Million Five Hundred Thousand Dollars ($36,500,000) (the “Guaranteed Amount”).
