Common use of Limitation on Sale and Lease-Back Transactions Clause in Contracts

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, enter into any Sale and Lease-Back Transaction unless (i) the consideration received in such Sale and Lease-Back Transaction is at least equal to the fair market value of the property sold, as determined by a Board Resolution of the Company and (ii) the Company could incur Indebtedness in an amount equal to the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.06.

Appears in 2 contracts

Samples: Indenture (Cole National Group Inc), Indenture (Cole National Corp /De/)

AutoNDA by SimpleDocs

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, enter into into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the consideration received in proceeds from such Sale and Lease-Back Transaction is are at least equal to the fair market value Fair Market Value of the property sold, as determined by a Board Resolution of the Company such Property being transferred and (ii) the Company could incur Indebtedness in an amount equal to the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.06.or

Appears in 2 contracts

Samples: Indenture (Di Industries Inc), Indenture (Grey Wolf Inc)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, enter into into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the consideration received in proceeds from such Sale and Lease-Back Transaction is are at least equal to the fair market value Fair Market Value of the property sold, as determined by a Board Resolution of the Company such Property being transferred and (ii) the Company could incur Indebtedness in an amount equal or such Subsidiary would have been permitted to enter into such transaction under the Attributable Indebtedness in respect provisions of such Sale Sections 4.03, 4.04 and Lease-Back Transaction in compliance with Section 4.064.10.

Appears in 2 contracts

Samples: Indenture (Nabors Industries Inc), Indenture (Trend Drilling Co)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, enter into into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the consideration received in proceeds from such Sale and Lease-Back Transaction are at least equal to the Fair Market Value of such Property being transferred and (ii) the Company or such Subsidiary would have been permitted to enter into such transaction under the tests described under (a) Sections 1010 and 1011 if such Sale and Lease-Back Transaction is at least equal to the fair market value of the property sold, as determined by a Board Resolution of the Company Capital Lease Obligation and (iib) the Company could incur Indebtedness in an amount equal to the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.061015 hereof.

Appears in 1 contract

Samples: Third Supplemental Indenture (Pride International Inc)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Restricted Subsidiary to, enter into any Sale and Lease-Back Transaction unless (i) the consideration received in such Sale and Lease-Back Transaction is at least equal to the fair market value of the property sold, as determined by a Board Resolution of the Company Company, and (ii) the Company could incur Indebtedness in an amount equal to the 57 -50- Attributable Indebtedness in respect of such Sale and Lease-Lease- Back Transaction in compliance with Section 4.064.10.

Appears in 1 contract

Samples: Indenture (Outdoor Systems Inc)

Limitation on Sale and Lease-Back Transactions. The Company will shall not, and will shall not permit any Subsidiary to, directly or indirectly, enter into into, assume, guarantee or otherwise become liable with respect to, any Sale and Lease-Back Transaction unless (i) the consideration received in proceeds from such Sale and Lease-Back Transaction is are at least equal to the fair market value Fair Market Value of the property sold, as determined by a Board Resolution of the Company such Property being transferred and (ii) the Company could incur Indebtedness or such Subsidiary would have been permitted to enter into such transaction under the covenants described in an amount equal to the Attributable Indebtedness in respect of such Sale Sections 4.12, 4.13 and Lease-Back Transaction in compliance with Section 4.064.17.

Appears in 1 contract

Samples: Indenture (Harperprints Inc)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, enter into any Sale and Lease-Back back Transaction unless (i) the consideration received in such Sale and Lease-Back Transaction is at least equal to the fair market value of the property sold, as determined by a the Board Resolution of Directors of the Company and (ii) the Company could incur Indebtedness in an amount equal to the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.061011.

Appears in 1 contract

Samples: Indenture (Louisiana Casino Cruises Inc)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, enter into into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the consideration received in proceeds from such Sale and Lease-Back Transaction are at least equal to the Fair Market Value of such Property being transferred and (ii) the Company or such Subsidiary would have been permitted to enter into such transaction under the tests described under (a) Sections 1010 and 1011 if such Sale and Lease-Back Transaction is at least equal to the fair market value of the property sold, as determined by a Board Resolution of the Company Capital lease Obligation and (iib) the Company could incur Indebtedness in an amount equal to the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.061015 hereof.

Appears in 1 contract

Samples: Third Supplemental Indenture (Pride International Inc)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Restricted Subsidiary to, enter into any Sale and Lease-Back Transaction unless (i) the consideration received in such Sale and Lease-Back Transaction is at least equal to the fair market value of the property sold, as determined by a Board Resolution of the Company Company, and (ii) the Company could incur Indebtedness in an amount equal to the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.064.10.

Appears in 1 contract

Samples: Indenture (Outdoor Systems Inc)

Limitation on Sale and Lease-Back Transactions. The Company will not, shall not and will shall not permit any Subsidiary to, to enter into any Sale and Lease-Back Transaction unless (i) Transaction; provided, that the consideration received in such Company may enter into one or more Sale and Lease-Back Transaction is at least equal to the fair market value of the property sold, as determined by a Board Resolution of the Company and (ii) the Company could incur Indebtedness in an amount equal to Transactions if the Attributable Indebtedness in Debt with respect of such to all Sale and Lease-Back Transaction in compliance with Section 4.06Transactions does not at any time exceed 10% of the Company’s Consolidated Net Worth.

Appears in 1 contract

Samples: Master Shelf Agreement (Mdu Resources Group Inc)

AutoNDA by SimpleDocs

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, enter into into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the consideration received in proceeds from such Sale and Lease-Back Transaction is are at least equal to the fair market value Fair Market Value of the property sold, as determined by a Board Resolution of the Company Property being transferred and (ii) the Company could incur Indebtedness in an amount equal or such Subsidiary would have been permitted to enter into such transaction under the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with tests described under Section 4.061009 hereof.

Appears in 1 contract

Samples: Sixth Supplemental Indenture (Pride International Inc)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Restricted Subsidiary to, enter into any Sale and Lease-Back Transaction unless (i) the consideration received in such Sale and Lease-Back Transaction is at least equal to the fair market value of the property sold, as determined by a Board Resolution of the Company Company, and (ii) the Company could incur Indebtedness in an amount equal to the Attributable Indebtedness in respect of such Sale and Lease-Lease- Back Transaction in compliance with Section 4.064.10.

Appears in 1 contract

Samples: Indenture (Outdoor Systems Inc)

Limitation on Sale and Lease-Back Transactions. The Company will shall not, and will shall not permit any Subsidiary to, directly or indirectly, enter into into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the consideration received in proceeds from such Sale and Lease-Back Transaction is are at least equal to the fair market value Fair Market Value of the property sold, as determined by a Board Resolution of the Company such Property being transferred and (ii) the Company could incur Indebtedness or such Subsidiary would have been permitted to enter into such transaction under the covenants described in an amount equal to the Attributable Indebtedness in respect of such Sale Sections 4.12, 4.13 and Lease-Back Transaction in compliance with Section 4.064.17.

Appears in 1 contract

Samples: Indenture (Hvide Marine Inc)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, enter into into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the consideration received in proceeds from such Sale and Lease-Back Transaction is are at least equal to the fair market value Fair Market Value of the property sold, as determined by a Board Resolution of the Company such Property being transferred and (ii) the Company could incur Indebtedness in an amount equal or such Subsidiary would have been permitted to the Attributable Indebtedness in respect of enter into such Sale transaction under Section 4.4, 4.16 and Lease-Back Transaction in compliance with Section 4.064.17.

Appears in 1 contract

Samples: Indenture (Brand Scaffold Services Inc)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Restricted Subsidiary of the Company to, enter into any Sale and Lease-Back Transaction unless (i) the consideration received in such Sale and Lease-Back Transaction is at least equal to the fair market value of the property sold, as determined by a Board Resolution board resolution of the Company and (ii) the Company could incur Indebtedness in an amount equal to the Attributable Indebtedness Debt in respect of such Sale and Lease-Back Transaction in compliance with Section 4.064.03.

Appears in 1 contract

Samples: Indenture (Spanish Broadcasting System Inc)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, enter into into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the consideration received in proceeds from such Sale and Lease-Back Transaction is are at least equal to the fair market value Fair Market Value of the property sold, as determined by a Board Resolution of the Company such Property being transferred and (ii) the Company could incur Indebtedness in an amount equal or such Subsidiary would have been permitted to enter into such transaction under the Attributable Indebtedness in respect provisions of such Sale Sections 4.3, 4.4 and Lease-Back Transaction in compliance with Section 4.064.10.

Appears in 1 contract

Samples: Indenture (Grey Wolf Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!