Dillard Operating Covenant Sample Clauses

Dillard Operating Covenant. Dillard covenants with the Developer that the Dillard Tract and the Condev Tract shall be operated and used solely for the purpose of operating on each of said Tracts a Dillard retail department store, having a minimum store size of 198,000 square feet of Floor Area on the Dillard Tract and 37,700 square feet of Floor Area the Condev Tract, comparable to the majority of other retail department stores Dillard is operating in the States of Arkansas and Texas, each with an entrance onto the Enclosed Mall, commencing with the date of this Agreement in respect of the Dillard Tract and continuing in respect of both the Dillard and Condev Tracts for a period of at least fifteen (15) consecutive calendar years from the date of the first opening of the Xxxxxxx department store Building on the Condev Tract for business with the general public, but only for so long as (i) Developer complies with the provisions of its Operating Covenant as provided in this Agreement, and (ii) Mall Tenants occupying at least sixty percent (60%) of the Gross Leasable Area of Developer's Buildings shall be operating their businesses (which requirement shall not apply during the period of Developer's construction). Throughout the aforedescribed period, Dillard shall operate or cause to be operated on each Tract a Dillard retail department store under the name of "Dillard" or under such other name as Dillard shall be operating a majority of its comparable stores. The aforedescribed period during which Dillard is required to operate a Dillard retail department store is herein referred to as the "Dillard Operating Covenant". Once any or all of the conditions stipulated in (i) and (ii) above have not been met and subject to the provisions of this Article IV, the Dillard Operating Covenant shall be deemed terminated. The provisions of this article shall be subject to all the provisions of this Agreement, such as the provisions set forth in "EMINENT "DOMAIN" and "DESTRUCTION" hereof. Any failure to comply with the provisions of this article for temporary periods of time due to fire or other casualty shall not be deemed a default under the provisions of this article; provided, however, such temporary periods of time shall extend for only so long as diligent efforts are being made to restore such damaged Building, if possible, to the condition it was in just prior to the happening of such casualty or act. Additionally, Dillard shall have the right not to operate in accordance with its Operating C...
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Related to Dillard Operating Covenant

  • Interim Operating Covenants Seller covenants to Purchaser that Seller will:

  • Operating Covenants The Issuer covenants with the Indenture Trustee as follows, provided that any of the following covenants with respect to the Portfolio Railcars shall not be deemed to have been breached by virtue of any act or omission of a Lessee or sub-lessee, or of any Person which has possession of a Portfolio Railcar for the purpose of repairs, maintenance, modification or storage, or by virtue of any requisition, seizure, or confiscation of a Portfolio Railcar (other than seizure or confiscation arising from a breach by the Issuer of such covenant) (each, a “Third Party Event”), so long as (i) none of the Issuer, the Servicer or the Administrator has consented to such Third Party Event; and (ii) the Issuer (or the Servicer on its behalf) as the Lessor of such Portfolio Railcar promptly and diligently takes such commercially reasonable actions as a leading railcar operating lessor would reasonably take in respect of such Third Party Event, including, as deemed appropriate (taking into account, among other things, the laws of the jurisdiction in which such Portfolio Railcar is located or operated), seeking to compel such Lessee or other relevant Person to remedy such Third Party Event or seeking to repossess the relevant Portfolio Railcar:

  • Interim Covenants During the period from the date of this Agreement and continuing until the Closing, the Seller and the Stockholders each agree (except as expressly contemplated by this Agreement or to the extent that Buyer shall otherwise consents in writing) that:

  • Post-Closing Covenant The Borrower agrees that it will, or will cause its relevant Subsidiaries to, complete each of the actions described on Schedule 9.14 as soon as commercially reasonable and by no later than the date set forth in Schedule 9.14 with respect to such action or such later date as the Administrative Agent may reasonably agree.

  • Reporting Covenant So long as any Guaranteed Obligations shall remain unsatisfied or any Lender shall have any Commitment, each Guarantor agrees that it shall furnish to the Administrative Agent such information respecting the operations, properties, business or condition (financial or otherwise) of such Guarantor or its Subsidiaries as the Administrative Agent, at the request of any Guaranteed Party, may from time to time reasonably request.

  • Joint Covenants Buyer and Seller hereby covenant and agree that between the date hereof and Closing:

  • Financial Performance Covenants Notwithstanding anything to the contrary contained in Section 7.01, in the event that Holdings and the Borrower fail to comply with the requirements of any Financial Performance Covenant, until the expiration of the 10th day subsequent to the date the certificate calculating such Financial Performance Covenant is required to be delivered pursuant to Section 5.04(c), Holdings shall have the right to issue Permitted Cure Securities for cash or otherwise receive cash contributions to the capital of Holdings, and, in each case, to contribute any such cash to the capital of Borrower (collectively, the "Cure Right"), and upon the receipt by Borrower of such cash (the "Cure Amount") pursuant to the exercise by Holdings of such Cure Right such Financial Performance Covenant shall be recalculated giving effect to the following pro forma adjustments:

  • Financial Performance Covenant Upon the occurrence and during the continuance of a Covenant Trigger Event, the Borrower will maintain a Fixed Charge Coverage Ratio of not less than 1.0 to 1.0 measured for the most recent period of four consecutive fiscal quarters for which Required Financial Statements are available (or were required to be furnished) at the time of occurrence of such Covenant Trigger Event, and each subsequent four fiscal quarter period ending during the continuance of such Covenant Trigger Event.

  • Post-Closing Covenants The Parties agree as follows with respect to the period following the Closing.

  • Lawful Operations, etc Each Credit Party and each of its Subsidiaries: (i) holds all necessary foreign, federal, state, provincial, local and other governmental licenses, registrations, certifications, permits and authorizations necessary to conduct its business and own its properties; and (ii) is in full compliance with all requirements imposed by law, regulation or rule, whether foreign, federal, state or local, that are applicable to it, its operations, or its properties and assets, including, without limitation, applicable requirements of Environmental Laws, except for any failure to obtain and maintain in effect, or noncompliance that, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

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