Common use of STORE OPENING Clause in Contracts

STORE OPENING. Credit Parties shall not purchase, acquire (by exchange or otherwise) or develop any new Store during the Forbearance Period, except that Credit Parties may complete the development of the Carlsbad Store so long as (1) Borrower does not make (or permit any Credit Party to make) Capital Expenditures in excess of $1,000,000 during the Forbearance Period in connection with the completion of development of the Carlsbad Store and (2) Borrower and each other Credit Party are in compliance with Section 11.5.1 of the Credit Agreement. In addition, notwithstanding the limitations contained in Section 11.5.2 of the Credit Agreement or this subsection 6(d), the Credit Parties may spend up to $100,000 to obtain permits, and to prepare and negotiate construction documents, for the Store in Long Beach, California.