Gross Rings definition

Gross Rings has the meaning set forth in Section 2(i)(iii).

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Gross Rings gross register receipts less applicable Sales Taxes but excluding any prevailing discounts for the Gross Rings Period.

Gross Rings means the aggregate Retail Price of all Merchandise sold by Debtors in each Store during the period from the Sale Commencement Date to the Inventory Conclusion Date for such Store as recorded in the Debtors' cash register system without giving effect to any point of sale markdowns or promotional hang tag discounts.

Examples of Gross Rings in a sentence

• The parties currently contemplate that the physical counts will then be rolled forward or backward, as the case may be, based on Gross Rings, as hereinafter defined.

• In the event that the Inventory Count is conducted at any Store location on a date that is before the Closing Date, then for the period from the completion of the Inventory Count at such Store location until the Closing Date, the Seller shall keep a count of units sold multiplied by the Inventory Retail Value ("Gross Rings").

• The Agent shall pay to the Merchant the Guaranteed Amount, as adjusted in part, to reflect the values calculated through the: (A) Final Inventory Report, and (B) aggregate amount of Gross Rings, as adjusted for shrinkage per this Agreement.

• In the event that the Inventory Count is conducted at any Store location on a date that is after the Closing Date, then for the period from the Closing Date to the completion of the Inventory Count at such Store location, the Buyer (or the Seller on the Buyer's behalf if such is called for under the Transition Services Agreement) shall keep a count of the Gross Rings.

• The Agent shall pay that portion of the Guaranteed Amount calculated on the Gross Rings basis, to account for shrinkage, on the basis of 102% of the aggregate Retail Price of Merchandise.

More Definitions of Gross Rings

Gross Rings means gross register receipts less applicable sales tax.

Gross Rings shall have the meaning ascribed thereto in Section 3.3(b) hereof.

Gross Rings has the meaning assigned to that term in Section 5.5 hereof. “Inventory Date’ has the meaning assigned to that term in Section 5.1 hereof.

Gross Rings has the meaning assigned to that term in Section 5.5 hereof. “Inventory Date’ has the meaning assigned to that term in Section 5.1 hereof. “Initial Guaranty Payment” has the meaning assigned to that term in Section 3.3 hereof.

Gross Rings means the aggregate amount of Net Receipts attributable to the sale of all items of Merchandise for all such periods.

Gross Rings has the meaning assigned to that term in Section 5.5 hereof. “Initial Guaranty Payment” has the meaning assigned to that term in Section 3.3 hereof.

Gross Rings means in the event that the Sale commences prior to the completion of the Merchandise Count at any Closing Location, then for the period from the Sale Commencement Date until the Merchandise Count for such Closing Location, Agent and Merchant shall jointly keep (i) a strict count of gross register receipts less applicable Sales Taxes ("Gross Rings"), and (ii) cash reports of sales within such Closing Location. Register receipts shall show for each item sold the Retail Price for such item and the markdown or discount, if any, specifically granted by Agent in connection with such Sale. All such records and reports shall be made available to Agent and Merchant during regular business hours upon reasonable notice.