Common use of New Stores Clause in Contracts

New Stores. Seller shall provide Buyer all relevant information as to leases which have been entered into prior to the date hereof and which relate to stores not yet opened in the Los Angeles Metropolitan Area (the "New Leases") (it being understood that Seller shall not enter into any such leases after the date hereof). Buyer shall have the right, by written notice to Seller delivered at any time before the Closing Date, to cause Seller to assign to the Company any or all such New Leases at no additional cost to Buyer, except that Buyer shall be responsible for the performance of said leases subsequent to the Closing as provided in Section 5.04. Seller agrees with respect to any such store under development that such store will be developed in accordance with a format, and with decor, provided by Buyer and that Seller shall not install fixtures or inventory in such store prior to the Closing.