Common use of Vacating the Stores Clause in Contracts

Vacating the Stores. At the conclusion of the Sale, Xxxxx agrees to leave the Stores in “broom clean” condition, ordinary wear and tear excepted, except for unsold items of FF&E, Café/Candy Inventory and News Stand Inventory and remaining Supplies. Agent shall vacate the Stores on or before the Sale Termination Date, as provided for herein, at which time Agent shall surrender and deliver the Store premises and Store keys to Merchant. Agent’s obligations to pay Occupancy Expenses, for each Store shall continue until the later of (i) the date specified in the Vacate Notice (which must be at least seven days from the date of the Vacate Notice) and (ii) the date the Agent vacates such Store. All assets of Merchant used by Agent in the conduct of the Sale (e.g. FF&E, Cafe/Candy Inventory, News Stand Inventory, etc.) shall be returned by Agent to Merchant at the end of the Sale Term to the extent the same have not been consumed in the conduct of the Sale (e.g., Supplies) or sold. Agent shall be responsible for all Occupancy Expenses (irrespective of any per diem cap on Occupancy Expenses) for a Store for which Merchant is or becomes obligated resulting from Agent’s failure to vacate such Store in a satisfactory and timely manner.

Appears in 1 contract

Samples: Agency Agreement

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Vacating the Stores. At the conclusion of the Sale, Xxxxx Agent agrees to leave the Stores each Store in “broom clean” condition, ordinary wear and tear excepted, except for unsold items of FF&E, Café/Candy Inventory FF&E which may be abandoned by Agent in place in a neat and News Stand Inventory and remaining Suppliesorderly manner. Agent shall vacate the Stores on or before the Sale Termination Date, Date as provided for herein, at which time Agent shall surrender and deliver the Store premises premises, and Store keys to Merchant. Agent’s obligations to pay Occupancy Expenses, all Expenses for each Store subject to a Vacate Notice shall continue until the later of (i) the date specified in the Vacate Notice (which must be at least seven days from the date of the Vacate Notice) and (ii) the date the Agent vacates Date for each such Store. All assets of Merchant used by Agent in the conduct of the Sale (e.g. FF&E, Cafe/Candy Inventory, News Stand Inventory, etc.) shall be returned by Agent to Merchant at the end of the Sale Term to the extent the same have not been consumed in the conduct of the Sale or sold (e.g., Supplies) or sold). If Agent fails to timely vacate a Store per the respective Vacate Date for such Store, Agent shall be responsible liable for all Occupancy Expenses (irrespective of any per diem cap on and pay the actual amounts payable to landlords and/or other Occupancy Expenses) for a Store for which Merchant is , with each incurred on or becomes obligated resulting from Agent’s failure to vacate such Store in a satisfactory and timely mannerafter the respective Vacate Date.

Appears in 1 contract

Samples: Agency Agreement

Vacating the Stores. At the conclusion of the Sale, Xxxxx Agent agrees to leave the Stores in “broom clean” condition, ordinary wear and tear excepted, except for unsold items of FF&E, Café/Candy Inventory and News Stand Inventory and remaining SuppliesFF&E (except as provided for in Section 15.9 below). Agent shall vacate the Stores on or before the Sale Termination Date, as provided for herein, at which time Agent shall surrender and deliver the Store premises and Store keys to Merchant. Agent’s obligations to pay all Expenses, including Occupancy Expenses, for each Store subject to Vacate Notice shall continue until the later of (ia) the applicable vacate date specified in for such Store, or (b) the Vacate Notice (which must be at least seven days from the date 15th day of the Vacate Notice) and (ii) calendar month in which the vacate date the Agent vacates for such StoreStore occurs. All assets of Merchant used by Agent in the conduct of the Sale (e.g. FF&E, Cafe/Candy Inventory, News Stand Inventory, etc.) shall be returned by Agent to Merchant at the end of the Sale Term to the extent the same have not been consumed in the conduct of the Sale or sold (e.g., Supplies) or sold); provided, however, that Agent shall be responsible for removing all remaining Supplies at the end of the Sale Term. Agent shall be responsible for all Occupancy Expenses (irrespective of any per diem cap on Occupancy Expenses) for a Store for which Merchant is or becomes obligated resulting from Agent’s failure to vacate such Store in a satisfactory and timely manner.

Appears in 1 contract

Samples: Agency Agreement (Linens Holding Co.)

Vacating the Stores. At the conclusion of the Sale, Xxxxx Agent agrees to leave the Stores in “broom clean” condition, ordinary wear and tear excepted, except for unsold items of FF&E, Café/Candy Inventory and News Stand Inventory and remaining Supplies. Agent shall vacate the Stores on or before the Sale Termination Date, as provided for herein, at which time Agent shall surrender and deliver the Store premises and Store keys to Merchant. Agent’s obligations to pay Occupancy Expenses, for each Store shall continue until the later of (i) the date specified in the Vacate Notice (which must be at least seven days from the date of the Vacate Notice) and (ii) the date the Agent vacates such Store. All assets of Merchant used by Agent in the conduct of the Sale (e.g. FF&E, Cafe/Candy Inventory, News Stand Inventory, etc.) shall be returned by Agent to Merchant at the end of the Sale Term to the extent the same have not been consumed in the conduct of the Sale (e.g., Supplies) or sold. Agent shall be responsible for all Occupancy Expenses (irrespective of any per diem cap on Occupancy Expenses) for a Store for which Merchant is or becomes obligated resulting from Agent’s failure to vacate such Store in a satisfactory and timely manner.

Appears in 1 contract

Samples: Agency Agreement (Borders Group Inc)

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Vacating the Stores. At the conclusion of the Sale, Xxxxx Agent agrees to leave the Stores in “broom clean” condition, ordinary wear and tear excepted, except for unsold items of FF&E, Café/Candy Inventory and News Stand Inventory FF&E and remaining SuppliesSupplies(except as provided for in Section 15.9 below). Agent shall vacate the Stores on or before the Sale Termination Date, as provided for herein, at which time Agent shall surrender and deliver the Store premises and Store keys to Merchant. Agent’s obligations to pay all Expenses, including Occupancy Expenses, for each Store subject to Vacate Notice shall continue until the later of (ia) the applicable vacate date specified in for such Store, or (b) the Vacate Notice (which must be at least seven days from the date 15th day of the Vacate Notice) and (ii) calendar month in which the vacate date the Agent vacates for such StoreStore occurs. All assets of Merchant used by Agent in the conduct of the Sale (e.g. FF&E, Cafe/Candy Inventory, News Stand Inventory, etc.) shall be returned by Agent to Merchant at the end of the Sale Term to the extent the same have not been consumed in the conduct of the Sale or sold (e.g., Supplies) or sold). Agent shall be responsible for all Occupancy Expenses (irrespective of any per diem cap on Occupancy Expenses) for a Store for which Merchant is or becomes obligated resulting from Agent’s failure to vacate such Store in a satisfactory and timely manner.

Appears in 1 contract

Samples: Agency Agreement (Linens 'N Things Center, Inc.)

Vacating the Stores. At the conclusion of the Sale, Xxxxx Agent agrees to leave the Stores in "broom clean" condition, ordinary wear and tear excepted, except for unsold items of FF&E, Café/Candy Inventory and News Stand Inventory and remaining Supplies. Owned FF&E. Agent shall vacate the Stores on or before the Sale Termination Date, as provided for herein, at which time Agent shall surrender and deliver the Store premises and Store keys to Merchant. Agent’s 's obligations to pay all Occupancy Expenses, Expenses for each Store subject to Vacate Notice shall continue until the later applicable Vacate Date for such Store; provided however, if Agent shall vacate a Store prior to the 15th day of the calendar month, then Agent shall be obligated to pay Occupancy Expenses (iup to the per diem amount set forth in Exhibit 4.1(l)) the date specified in actually paid by Merchant from the Vacate Notice (which must be at least seven days from Date through the date of the Vacate Notice) and (ii) the date the Agent vacates 15th day for each such Store. All Subject to Section 16.10 below, all assets of Merchant used by Agent in the conduct of the Sale (e.g. e.g., FF&E, Cafe/Candy Inventory, News Stand Inventory, etc.) shall be returned by Agent to Merchant or left at the Store at the end of the Sale Term to the extent the same have not been consumed used in the conduct of the Sale or sold (e.g., Supplies) or soldFF&E). Agent shall be responsible for all Occupancy Expenses (irrespective of any per diem cap on Occupancy Expenses) for a Store for which Merchant is or becomes obligated resulting from Agent’s 's failure to vacate such Store in a satisfactory and timely mannervacate.

Appears in 1 contract

Samples: Agency Agreement

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