Common use of Lease-Backs Clause in Contracts

Lease-Backs. Enter into any arrangements, directly or indirectly, with any Person, whereby it shall sell or transfer any real property, whether now owned or hereafter acquired, used or useful in the business carried on by it, in connection with the rental or lease of the property so sold or transferred or of other property for substantially the same purpose or purposes as the property so sold or transferred, except if (i) such real properties so sold or transferred have an aggregate fair market value (as determined in good faith by the Borrower) not in excess of 7.5% of the value of the Consolidated Total Assets (determined as of the date on which the definitive agreement governing the relevant sale or transfer is executed) in any fiscal year of the Canadian Borrower, and (ii) the proceeds of such sale or transfer are used to repay the principal amount outstanding firstly under Facility E and thereafter under Facility A (subject to any mandatory prepayment requirements under the Term Loan Agreement);