Closed Market definition

Closed Market means any facility serving a captive market, including but not limited to, department stores, food retailers, supermarkets, shopping malls, enclosed shopping centers, amusement parks, airports, train stations and other modes of mass transportation, travel plazas, casinos, nightclubs, cinemas, theaters, restaurants, public facilities, college and school campuses, arenas, stadiums, ballparks, hospitals, healthcare facilities, hotels, guest lodging facilities, day care facilities of any kind, resorts, condominium and cooperative facilities, office buildings, convention centers, airlines (in-flight service), military bases and installations, government facilities, and any other public attraction or venue or mass gathering events or locations, and facilities of any kind for which food and/or beverage service rights are contracted to a third party or parties, whether inside or outside of the Development Area.

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Closed Market has the meaning set forth in Section 2.2.

Closed Market means any facility serving a captive market, including but not limited to, shopping malls, enclosed shopping centers, and any other enclosed or open retail center (including an “outlet mall”) with an aggregate gross leasable area in excess of 350,000 square feet amusement parks; airports, train stations and other centers of mass transportation; travel plazas; casinos; public facilities; college and school campuses; arenas, stadiums, and ballparks; hotels and guest lodging facilities; day care facilities of any kind; resorts; condominium and cooperative facilities; office buildings; convention centers; military bases and installations; government facilities; and any other public attraction or venue or mass gathering events or locations.

Examples of Closed Market in a sentence

• Each Put Notice will identify the amount of Spectrum that Sprint intends to put for such Closed Market.

• From and after the Effective Date through the applicable Initial Closing Date or Market Closing Date, Sprint will, consistent with its past business practices and procedures, maintain all necessary qualifications to hold and obtain renewal in the ordinary course all authorizations identified in Schedule R-3 which are attributable to any Market which is not a Closed Market.

• On the Initial Closing Date and each Market Closing Date, the relevant Sprint Subsidiary and Operator will transmit to each Third Party Licensee which is a party to any Primary Lease attributable to each Closed Market a notice substantially in the form attached as Exhibit D.

• Not later than 30 days following each successive Market Closing Date, Operator will provide Sprint with a certificate of insurance evidencing the coverages required pursuant to the Primary Leases attributable for each such new Closed Market.

• At any time during the 18 months following the Initial Closing Date, Sprint may deliver a Tower Sublease Consent for any Tower which is located in a Market which is not a Closed Market or a lease for other suitable replacement tower facilities ("Substitute Tower Lease") on financial terms and conditions at least as favorable to Operator as the relevant Tower Lease being replaced and such Substitute Tower Lease will automatically take the place of such Tower Lease for purposes of this Agreement.

• Sprint will maintain all Sprint Equipment and other equipment used in connection with the operation of the Spectrum in a given Closed Market as of the applicable Initial Closing Date or Market Closing Date to the extent necessary to operate the Spectrum in the subject Closed Market.

• If the Parties are unable to determine the identity of the Put Spectrum and Call Spectrum, the Parties will follow the procedures set forth in Section 17.3(c) until Operator has selected the amount of Spectrum identified in the Call Notice and Put Notice for such Closed Market.

• Furthermore, Sprint will repair or replace any non-operational Sprint Equipment to the extent necessary to operate the Spectrum in the subject Closed Market.

• Commencing with the Initial Closing Date and each Market Closing Date and continuing throughout the Term, Operator will pay Sprint a monthly spectrum access and aggregation fee (the "Monthly Fee") equal to the amount set forth in Schedule 6.4 for each Market which becomes a Closed Market on the Initial Closing Date, or applicable Market Closing Date.

• Following the Initial Closing Date, from time to time or all at once, at such time as Sprint or Operator obtains a Tower Sublease Consent for an applicable Tower Sublease or a Substitute Tower Lease for a Market which is not a Closed Market, the Parties will proceed to Closing pursuant to the terms set forth in this Section 2.5 with respect to each such Market (each a "Market Closing").

More Definitions of Closed Market

Closed Market refers to and means any and all Corporate Account customers that presently or, in the future, are located within Franchisee’s Operating Territory.