SHC Entities definition

SHC Entities has the meaning ascribed to it in the Separation Agreement.

SHC Entities means, collectively, SHC and all of its Subsidiaries other than the LE Entities.

SHC Entities means SHC and any Person controlled, directly or indirectly, by SHC other than the General Partner or a member of the Partnership Group; and “SHC Entity” means any of the SHC Entities.

Examples of SHC Entities in a sentence

• Neither SHC nor LE shall (and shall cause the respective members of their Groups, as applicable, not to) publicly disparage the SHC Entities or the LE Entities, their respective products, services, or present or former Personnel.

• Each of the SHC Entities hereby waives compliance by each and every LE Entity with the requirements and provisions of any “bulk-sale” or “bulk-transfer” laws of any jurisdiction that may otherwise be applicable with respect to the transfer or sale of any of the SHC Assets to any SHC Entity.

• All LE Personnel shall cease active participation in the Sears Holdings Corporation Associate Stock Purchase Plan (the “SHC ASPP”) with respect to offering periods ending after the Effective Time and shall be treated in the same manner as other similarly situated terminated Personnel of SHC or the other SHC Entities.

• If not obtained prior to the Distribution Date, then following such date, LE agrees to use its commercially reasonable efforts to obtain appropriate insurance policies for itself and the LE Entities covering those risks that, prior to the Effective Time, were jointly insured with the SHC Entities (such as foreign liability, umbrella liability, directors’ and officers’, crime and ocean freight insurance).

• SHC also shall be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged Information which relates to any pending or future Action that is, or which SHC reasonably anticipates may become, a SHC Liability and that is not also, or that SHC reasonably anticipates will not become, a LE Liability, whether or not the privileged Information is in the possession of or under the control of the SHC Entities or the LE Entities.

• In the event an insurance policy aggregate is exhausted, or believed likely to be exhausted, due to noticed claims, the LE Entities, on the one hand, and the SHC Entities, on the other hand, shall be responsible for their pro rata portion of the reinstatement premium, if any, based upon the losses of such Group submitted to SHC’s insurance carrier(s) (including any submissions prior to the Effective Time).

• LE also shall be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged Information which relates to any pending or future Action that is, or which LE reasonably anticipates may become, a LE Liability and that is not also, or that LE reasonably anticipates will not become, a SHC Liability, whether or not the privileged Information is in the possession of or under the control of the SHC Entities or the LE Entities.

• The Parties desire by their execution of this Agreement to evidence their agreement, as more fully set forth in Article II, with respect to certain business opportunities to be offered to the Partnership by the SHC Entities (as defined herein) and certain obligations of the Partnership to the SHC Entities.

• SHC, on behalf of itself and the other SHC Entities, hereby grants to the Partnership Group Members the option (the “Sale and Leaseback Option”) to purchase SHC Stores and simultaneously lease such stores back to SHC, subject to the provisions of this Section 2.2.

More Definitions of SHC Entities

SHC Entities means, collectively, SHC and all of its Subsidiaries other than the LE Entities. “SHC Indemnified Party” has the meaning set forth in Section 10.2.