Vacating the Stores. At the conclusion of the Sale, Agent agrees to leave each Store in “broom clean” condition, ordinary wear and tear excepted, except for unsold items of FF&E which may be abandoned by Agent in place in a neat and orderly manner. Agent shall vacate the Stores on or before the Sale Termination Date as provided for herein, at which time Agent shall surrender and deliver the Store premises, and Store keys to Merchant. Agent’s obligations to pay all Expenses for each Store subject to a Vacate Notice shall continue until the Vacate Date for each such Store. All assets of Merchant used by Agent in the conduct of the Sale (e.g. FF&E, etc.) shall be returned by Agent to Merchant at the end of the Sale Term to the extent the same have not been consumed in the conduct of the Sale or sold (e.g., Supplies). If Agent fails to timely vacate a Store per the respective Vacate Date for such Store, Agent shall be liable for and pay the actual amounts payable to landlords and/or other Occupancy Expenses, with each incurred on or after the respective Vacate Date.
Appears in 1 contract
Sources: Agency Agreement
Vacating the Stores. At the conclusion of the Sale, Agent agrees to leave each Store the Stores in “broom clean” condition, ordinary wear and tear excepted, except for unsold items of FF&E which may be abandoned by Agent and remaining Supplies(except as provided for in place in a neat and orderly mannerSection 15.9 below). Agent shall vacate the Stores on or before the Sale Termination Date Date, as provided for herein, at which time Agent shall surrender and deliver the Store premises, premises and Store keys to Merchant. Agent’s obligations to pay all Expenses Expenses, including Occupancy Expenses, for each Store subject to a Vacate Notice shall continue until the Vacate Date later of (a) the applicable vacate date for each such Store, or (b) the 15th day of the calendar month in which the vacate date for such Store occurs. All assets of Merchant used by Agent in the conduct of the Sale (e.g. FF&E, etc.) shall be returned by Agent to Merchant at the end of the Sale Term to the extent the same have not been consumed in the conduct of the Sale or sold (e.g., Supplies). If Agent fails to timely vacate a Store per the respective Vacate Date for such Store, Agent shall be liable responsible for and pay the actual amounts payable to landlords and/or other all Occupancy Expenses (irrespective of any per diem cap on Occupancy Expenses, with each incurred on ) for a Store for which Merchant is or after the respective Vacate Datebecomes obligated resulting from Agent’s failure to vacate such Store in a timely manner.
Appears in 1 contract
Vacating the Stores. At the conclusion of the Sale, Agent agrees to leave each Store the Stores in “broom clean” condition, ordinary wear and tear excepted, except for unsold items of FF&E which may be abandoned by Agent (except as provided for in place in a neat and orderly mannerSection 15.9 below). Agent shall vacate the Stores on or before the Sale Termination Date Date, as provided for herein, at which time Agent shall surrender and deliver the Store premises, premises and Store keys to Merchant. Agent’s obligations to pay all Expenses Expenses, including Occupancy Expenses, for each Store subject to a Vacate Notice shall continue until the Vacate Date later of (a) the applicable vacate date for each such Store, or (b) the 15th day of the calendar month in which the vacate date for such Store occurs. All assets of Merchant used by Agent in the conduct of the Sale (e.g. FF&E, etc.) shall be returned by Agent to Merchant at the end of the Sale Term to the extent the same have not been consumed in the conduct of the Sale or sold (e.g., Supplies). If Agent fails to timely vacate a Store per the respective Vacate Date for such Store; provided, however, that Agent shall be liable responsible for and pay removing all remaining Supplies at the actual amounts payable to landlords and/or other end of the Sale Term. Agent shall be responsible for all Occupancy Expenses (irrespective of any per diem cap on Occupancy Expenses, with each incurred on ) for a Store for which Merchant is or after the respective Vacate Datebecomes obligated resulting from Agent’s failure to vacate such Store in a timely manner.
Appears in 1 contract
Vacating the Stores. At the conclusion of the Sale, Agent agrees to leave each Store the Stores in “"broom clean” " condition, ordinary wear and tear excepted, except for unsold items of FF&E which may be abandoned by Agent in place in a neat and orderly manner. Owned FF&E. Agent shall vacate the Stores on or before the Sale Termination Date Date, as provided for herein, at which time Agent shall surrender and deliver the Store premises, premises and Store keys to Merchant. Agent’s 's obligations to pay all Occupancy Expenses for each Store subject to a Vacate Notice shall continue until the applicable Vacate Date for such Store; provided however, if Agent shall vacate a Store prior to the 15th day of the calendar month, then Agent shall be obligated to pay Occupancy Expenses (up to the per diem amount set forth in Exhibit 4.1(l)) actually paid by Merchant from the Vacate Date through the 15th day for each such Store. All Subject to Section 16.10 below, all assets of Merchant used by Agent in the conduct of the Sale (e.g. e.g., FF&E, etc.) shall be returned by Agent to Merchant or left at the Store at the end of the Sale Term to the extent the same have not been consumed used in the conduct of the Sale or sold (e.g., SuppliesFF&E). If Agent fails to timely vacate a Store per the respective Vacate Date for such Store, Agent shall be liable responsible for and pay the actual amounts payable to landlords and/or other all Occupancy Expenses (irrespective of any per diem cap on Occupancy Expenses, with each incurred on ) for a Store for which Merchant is or after the respective Vacate Datebecomes obligated resulting from Agent's failure to timely vacate.
Appears in 1 contract
Sources: Agency Agreement
Vacating the Stores. At the conclusion of the Sale, Agent ▇▇▇▇▇ agrees to leave each Store the Stores in “broom clean” condition, ordinary wear and tear excepted, except for unsold items of FF&E which may be abandoned by Agent in place in a neat FF&E, Café/Candy Inventory and orderly mannerNews Stand Inventory and remaining Supplies. Agent shall vacate the Stores on or before the Sale Termination Date Date, as provided for herein, at which time Agent shall surrender and deliver the Store premises, premises and Store keys to Merchant. Agent’s obligations to pay all Expenses Occupancy Expenses, for each Store subject to a Vacate Notice shall continue until the later of (i) the date specified in the Vacate Date for each Notice (which must be at least seven days from the date of the Vacate Notice) and (ii) the date the Agent vacates such Store. All assets of Merchant used by Agent in the conduct of the Sale (e.g. FF&E, Cafe/Candy Inventory, News Stand Inventory, etc.) shall be returned by Agent to Merchant at the end of the Sale Term to the extent the same have not been consumed in the conduct of the Sale or sold (e.g., Supplies)) or sold. If Agent fails to timely vacate a Store per the respective Vacate Date for such Store, Agent shall be liable responsible for and pay the actual amounts payable to landlords and/or other all Occupancy Expenses (irrespective of any per diem cap on Occupancy Expenses, with each incurred on ) for a Store for which Merchant is or after the respective Vacate Datebecomes obligated resulting from Agent’s failure to vacate such Store in a satisfactory and timely manner.
Appears in 1 contract
Sources: Agency Agreement
Vacating the Stores. At the conclusion of the Sale, Agent agrees to leave each Store the Stores in “broom clean” condition, ordinary wear and tear excepted, except for unsold items of FF&E which may be abandoned by Agent in place in a neat FF&E, Café/Candy Inventory and orderly mannerNews Stand Inventory and remaining Supplies. Agent shall vacate the Stores on or before the Sale Termination Date Date, as provided for herein, at which time Agent shall surrender and deliver the Store premises, premises and Store keys to Merchant. Agent’s obligations to pay all Expenses Occupancy Expenses, for each Store subject to a Vacate Notice shall continue until the later of (i) the date specified in the Vacate Date for each Notice (which must be at least seven days from the date of the Vacate Notice) and (ii) the date the Agent vacates such Store. All assets of Merchant used by Agent in the conduct of the Sale (e.g. FF&E, Cafe/Candy Inventory, News Stand Inventory, etc.) shall be returned by Agent to Merchant at the end of the Sale Term to the extent the same have not been consumed in the conduct of the Sale or sold (e.g., Supplies)) or sold. If Agent fails to timely vacate a Store per the respective Vacate Date for such Store, Agent shall be liable responsible for and pay the actual amounts payable to landlords and/or other all Occupancy Expenses (irrespective of any per diem cap on Occupancy Expenses, with each incurred on ) for a Store for which Merchant is or after the respective Vacate Datebecomes obligated resulting from Agent’s failure to vacate such Store in a satisfactory and timely manner.
Appears in 1 contract
Sources: Agency Agreement (Borders Group Inc)