{"component": "clause", "props": {"groups": [{"snippet": "The Borrower will not, and will not permit any Restricted Subsidiary to, enter into any arrangements, directly or indirectly, with any Person, whereby the Borrower or any Restricted Subsidiary shall sell or transfer any Property, whether now owned or hereafter acquired, used or useful in their respective businesses in connection with the rental or lease of the Property so sold or transferred or of other Property which the Borrower or any Restricted Subsidiary intends to use for substantially the same purpose or purposes as the Property so sold or transferred.", "snippet_links": [{"key": "borrower-will", "type": "clause", "offset": [4, 17]}, {"key": "restricted-subsidiary", "type": "clause", "offset": [47, 68]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [102, 124]}, {"key": "any-person", "type": "clause", "offset": [131, 141]}, {"key": "subsidiary-shall", "type": "definition", "offset": [182, 198]}, {"key": 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owned or hereafter acquired, used or useful in its business, in connection with the rental or lease of the property so sold or transferred or of other property which the Borrower or such Subsidiary intends to use for substantially the same purpose or purposes as the property so sold or transferred, if the aggregate gross proceeds of such sale of such property when added to the aggregate gross sale proceeds from all other such transactions entered into from and after the Closing Date exceeds $100,000,000.", "snippet_links": [{"key": "directly-or-indirectly", "type": "clause", "offset": [29, 51]}, {"key": "any-person", "type": "clause", "offset": [58, 68]}, {"key": "the-borrower", "type": "clause", "offset": [78, 90]}, {"key": "in-connection-with", "type": "clause", "offset": [228, 246]}, {"key": "lease-of-the-property", "type": "clause", "offset": [261, 282]}, {"key": "other-property", "type": "definition", "offset": [312, 326]}, {"key": "aggregate-gross-proceeds", "type": "definition", 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Covenants"], ["covenants-of-the-loan-parties", "Covenants of the Loan Parties"], ["covenants", "Covenants"], ["covenants-of-the-borrower", "COVENANTS OF THE BORROWER"], ["electronic-contracts", "Electronic Contracts"]], "size": 56, "id": "lease-backs", "related": [["sales-and-lease-backs", "Sales and Lease-Backs", "Sales and <strong>Lease-Backs</strong>"], ["lease-type", "LEASE TYPE", "LEASE TYPE"], ["base-monthly-rent", "Base Monthly Rent", "Base Monthly Rent"], ["operating-leases", "Operating Leases", "Operating Leases"], ["lease-payments", "Lease Payments", "Lease Payments"]], "related_snippets": [], "updated": "2026-02-20T05:50:57+00:00", "also_ask": [], "drafting_tip": null, "explanation": "A Lease-Backs clause allows a seller of property to immediately lease the property back from the buyer after the sale is completed. In practice, this means that the seller becomes the tenant and continues to occupy and use the property under agreed lease terms, such as rent amount, duration, and maintenance responsibilities. This arrangement is commonly used when the seller needs to access capital from the sale but still requires use of the property for business operations. The core function of the Lease-Backs clause is to provide flexibility and continuity for the seller while giving the buyer an immediate tenant, thereby solving the problem of occupancy transition and financial liquidity."}, "json": true, "cursor": ""}}