Store Closing Sales definition
Examples of Store Closing Sales in a sentence
The Agents and the Required Lenders hereby acknowledge and agree that the sale of the inventory and furniture, fixtures and equipment located at 567 of the Domestic Borrowers’ retail store locations and distribution centers pursuant to the 2009 Agency Agreement, as approved by the US Bankruptcy Court pursuant to that certain Order Approving Agency Agreement, Store Closing Sales and Related Relief by the US Bankruptcy Court dated January 16, 2009, is a Permitted Sale under the DIP Credit Agreement.
Merchant, however, reserves its right to request, upon notice to creditors, authorization by the Bankruptcy Court to auction any Fixtures remaining unsold at the end of the Store Closing Sales.
On the Closing Date, in connection with the Store Closing Sales, Agent will use those Merchant’s store-level employees employed at Stores other than TWEC Stores (each such employee, a “Retained Employee”).
The sale shall be conducted so that the subject Store remains open during that Store's normal hours of operation provided for in the lease for that Store, and the existing terms of Merchant's leases for the Stores shall control (i) the operation of the Stores during the Store Closing Sales and (ii) the conduct of the Store Closing Sales, except as otherwise expressly provided for in the Approval Order (including these Guidelines).
Purchaser may, at its sole discretion, terminate the Store Closing Sales at any Store prior to the Sale Termination Date; provided, however, that in no event may the Store Closing -------- ------- Sales at any of the Stores be conducted after the Sale Termination Date unless mutually agreed by Debtors and Purchaser in writing and in such event no further Court approval or order or notice to third parties is required.