Store Closings. Close more than 250 full line Sears or Kmart Stores in any fiscal quarter or more than 500 full line Sears or Kmart Stores in any four consecutive fiscal quarters without the consent of the Agent, such consent not to be unreasonably withheld and/or fail to comply with the requirements of the definition of Store Closure Sale when and as applicable.
Store Closings. Close any location at which the Loan Parties maintain, offer for sale or store any of the Collateral unless such closing, in any Fiscal Year, results in no more than a 10% store reduction from the aggregate number of stores open as of the first day of such Fiscal Year.
Store Closings. On the evening prior to the Date of Inventory, Seller shall close the Pharmacy to the general public and the Pharmacy shall remain closed thereafter. Seller shall have the right to continue the operation of selling non-prescription merchandise.
Store Closings. For the protection of employees in stores that may be closed for any reason, the following clause is added: Employees shall be protected as to employ ment and seniority and shall not lose any time due to such closings. These employees shall be temporar ily transferred to other departments, rather than be discharged, if they so desire, and shall be paid the going wage for the new job, with full consideration being ‘given their length of service. When new jobs are available or when vacancies occur, these employees shall be advanced to better paying operations or better jobs in their respective departments on the basis of seniority, providing they are able to do the work. Any employee who may be discharged shall be entitled to a hearing before representatives of the Company and the Union.
Store Closings. Close more than ten percent (10%) of the Loan Parties’ Stores existing on the Effective Date in any fiscal year without the consent of the Agent, such consent not to be unreasonably withheld and/or fail to comply with the requirements of the definition of Store Closure Sale when and as applicable.
Store Closings. The Borrowers will not commit to close, or close, any location at which any Borrower maintains, offers for sale or stores any of its Inventory or other Collateral, except that the Borrowers may downsize by closing up to 10% of the number of stores existing as of the Closing Date in any twelve (12) month period, provided that if the Borrowers close more than 5% of the number of stores existing as of the Closing Date in any twelve (12) month period, all such closings in excess of 5% of the number of stores existing as of the Closing Date in any twelve (12) month period shall be conducted by professional liquidators, subject to the approval of, and on terms and conditions reasonably acceptable to the Administrative Agent.
Store Closings. (a) The Saks Companies and/or their Affiliates shall have the right at any time and from time to time to close Stores.
(b) On the day that a Store is closed, the Composite Index shall be reduced by the CI Value of such Store.
(c) If the LTM Average Composite Index and the Composite Index as of the last day of any Fiscal Quarter commencing after the Closing Date are both below 95.00, then the Company shall pay to Household Bank within 45 Business Days after the end of such Fiscal Quarter an amount equal to
(i) the Adjusted Prepaid Program Fee at the end of such Fiscal Quarter divided by the number of Fiscal Quarters remaining in the Amortization Period, multiplied by (ii) 95.00 minus the Composite Index as of the last day of such Fiscal Quarter, divided by (iii) 95.00.
Store Closings. Notwithstanding anything contained herein, the Company, in its sole discretion, may determine to close and wind down one or more of the Stores (each a “Closed Store”), and conduct “store closing sales” or other similarly themed sales (the “GOB Sales”) for any such Closed Store through September 30, 2020; provided, however, that if a Store is unable to conduct a GOB Sale as a result of an involuntary closure due to COVID-19 (each an “Impacted Store”), such date shall be extended for such Impacted Store (or any other Store(s) that Sellers designate to conduct such sales on behalf of such Impacted Store) by one day for each day that the Impacted Store is unable to conduct a GOB Sale as a result of COVID-19; provided, further, that (i) the aggregate number of days that such other Store(s) may be extended shall not exceed the number of days that the Impacted Store has been closed, and (ii) any such extensions shall terminate by no later than November 30, 2020. In connection with the wind-down, including, but not limited to the GOB Sales, Buyer hereby grants to Sellers and its Affiliates, effective upon the Closing, a royalty free license for the continued use of the Intellectual Property of Sellers acquired by Buyer under this Agreement.
Store Closings. In the event that the Employer permanently closes, or sells a store and employees are terminated as a result thereof, separation pay will be paid under the conditions detailed below. ' / An employee who has averaged at least thirty (30) hours per week for the eight (8) weeks preceding his separation due to the sale or closing will qualify for separation pay if:
Store Closings. For purposes of this Section, “Fiscal Year” means February 1st of a given year through January 31st of the following year.
