Use of Owned Stores Sample Clauses

Use of Owned Stores. 19 6.1.2 Relief from Stay................................................ 20 6.2 Headquarters.......................................................... 20
Sample 1
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Use of Owned Stores. During the Closing Period, Buyer shall have the right, in its sole and absolute discretion, which right may be exercised at any time and from time to time, to use and occupy any one or more of the store locations owned by Seller (the "Owned Stores"), which Owned Stores are set forth on Schedule 6.1, at a cost to Buyer on an Owned Store-by-Owned Store basis of Twenty-Six Thousand Dollars ($26,000) (the "Per Store Rent"). The Per Store Rent shall be paid to Seller on a monthly basis (on the first day of each month) and shall constitute all of the rent payable with respect to each occupied Owned Store for such month, including rent, real estate taxes and common area maintenance charges. Seller shall pay all rent, real estate taxes and common area maintenance charges when due. Moreover, Seller shall maintain and pay for all reasonable property (excluding contents) and secondary liability insurance for each Owned Store and Seller shall pay for all repairs and maintenance for the Owned Stores, except for ordinary day-to-day maintenance and repairs, including cleaning, trash removal and snow removal, which shall be the obligation of Buyer. Utility costs shall be an obligation of Buyer. The Per Store Rent for each Owned Store shall only be required to be paid for so long as such Owned Store is occupied by Buyer, it being understood that Buyer may at any time and for any reason whatsoever cease its operations at any one or more Owned Stores. If Buyer fails to pay the Per Store Rent and any other amounts payable as set forth above with respect to any Owned Store, then following the expiration of a five (5) day cure period after receipt (notwithstanding the provisions of Section 13.15) by Buyer of notice of such failure to make such payments, Seller shall be entitled to revoke Buyer's right to use and occupy such Owned Store. Buyer shall be required to vacate in broom-clean condition each Owned Store that it has occupied by no later than Friday, February 28, 1997.
Sample 1

Related to Use of Owned Stores

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