LE Shops definition
Examples of LE Shops in a sentence
The Buying Commission will be calculated at time of receipt of the Merchandise consistent with practices in effect immediately prior to the Effective Date (i.e., for Merchandise for the LE Shops at Sears, as of receipt at the F.O.B. point (foreign port) and for all other Merchandise, at LE’s U.S. distribution facility).
LE shall maintain an adequate stock of Merchandise in the LE Shops consistent with past practices and such Merchandise shall be substantially the same in terms of category, variety, assortments, sizes, and price points, as has traditionally been sold in the LE Shops prior to the Effective Date.
Neither party shall refer to this Agreement, the LE Shops program or the other party in the solicitation of business without obtaining the other party’s prior written approval.
SRC shall accept returns and exchanges (collectively “Returns”) from customers in the LE Shops and at other SRC POS locations (regardless of whether such location has an LE Shop), of: (i) LE Merchandise and (ii) products sold by LE through other channels (e.g., catalog, ▇▇▇▇▇▇▇▇.▇▇▇, LE inlet stores, collectively “Non-LE Shop Products”) consistent with past practices for the types of goods SRC has accepted in the past and in accordance with SRC’s standard policies.
Prior to the Effective Date, LE has provided certain kiosks for certain of the LE Shops (the “LE Kiosks”).
LE retains sole responsibility for sourcing (in its own name, under its own contracts), paying for, and delivering to the Sears Locations for the LE Shops all Merchandise that is not a Bulk LE Product (e.g., replenishments of LE Bulk Products) and all LE specific supplies (currently this consists of LE branded bags and LE specific hangers, the “LE Supplies”) needed by the LE Shops.
At its expense, SRC shall furnish point of sale terminals (each “POS Terminal”) for its locations, some of which, consistent with the parties past practices, will be located in certain LE Shops.
LE shall not allow any liens, claims or encumbrances to attach to any SRC property or against any of the LE Shops (including Fees, Expenses and other liabilities or obligations to SRC which accrue hereunder (collectively, “SRC Obligations”).
LE shall be responsible for Merchandise damages/returns and shipping expenses to and from the LE Shops.
LE will not resell any Services, provide the Services to any joint-venture or non-wholly owned subsidiary, or otherwise use the Services in any way other than in connection with the operation of the LE Shops.