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 Restricted Subsidiary to, enter into any Sale and Lease-Back Transaction unless (a) the net proceeds received in such Sale and Lease-Back Transaction are at least equal to the fair market value of the property sold; (b) the Company could incur the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause to be applied the Asset Sale Proceeds of such transaction in accordance with Section 4.10 of this Indenture.

Appears in 2 contracts

Samples: Indenture (Telemundo Group Inc), Indenture (Telemundo Group Inc)

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Limitation on Sale and Lease-Back Transactions. The Company will shall not, and will shall not permit any Restricted Subsidiary to, enter into any Sale and Lease-Back Transaction unless (ai) the net proceeds consideration received in such Sale and Lease-Back Transaction are is at least equal to the fair market value of the property sold; , as determined by a board resolution of the Company and (bii) the Company could incur the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause to be applied the Asset Sale Proceeds of such transaction in accordance with Section 4.10 of this Indenture4.06.

Appears in 2 contracts

Samples: Indenture (Glasstech Inc), High Voltage Engineering Corp

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 (ai) the net proceeds consideration received in such Sale and Lease-Back Transaction are is at least equal to the fair market value of the property sold; , as determined by a Board Resolution of the Company and (bii) 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 4.05 of this Indenture; and (c) the Company shall apply or cause to be applied the Asset Sale Proceeds of such transaction in accordance with Section 4.10 of this Indenture4.06.

Appears in 2 contracts

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

Limitation on Sale and Lease-Back Transactions. The Company will shall not, and will shall not permit any Restricted Subsidiary to, enter into any Sale and Lease-Back Transaction unless (ai) the net proceeds consideration received in such Sale and Lease-Back Transaction are is at least equal to the fair market value of the property sold; , as determined, in good faith, by the Board of Directors of the Company and (bii) the Company could incur the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause to be applied the Asset Sale Proceeds of such transaction in accordance with Section 4.10 of this Indenture4.06.

Appears in 1 contract

Samples: Ski Lifts 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 (ai) the net proceeds consideration received in such Sale and Lease-Back Transaction are is at least equal to the fair market value of the property sold; , as determined by a Board Resolution of the Company, and (bii) the Company could incur the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause to be applied the Asset Sale Proceeds of such transaction in accordance with Section 4.10 of this Indenture4.10.

Appears in 1 contract

Samples: Outdoor Systems Inc

Limitation on Sale and Lease-Back Transactions. The Company will shall not, and will shall not permit any Restricted Subsidiary to, enter into any Sale and Lease-Back Transaction unless (ai) the net proceeds consideration received in such Sale and Lease-Back Transaction are is at least equal to the fair market value Fair Market Value of the property sold; , and (bii) the Company could incur the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause to be applied the Asset Sale Proceeds of such transaction in accordance with Section 4.10 of this Indenture4.12.

Appears in 1 contract

Samples: Indenture (California Steel Industries Inc)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Restricted Subsidiary to, directly or indirectly, enter into into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (ai) the net proceeds received in from such Sale and Lease-Back Transaction are at least equal to the fair market value Fair Market Value of the property sold; Property being transferred and (bii) the Company could incur the Attributable Indebtedness in respect of or such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause Subsidiary would have been permitted to be applied the Asset Sale Proceeds of enter into such transaction in accordance with under the tests described under Section 4.10 of this Indenture1009 hereof.

Appears in 1 contract

Samples: Supplemental Indenture (Pride International Inc)

Limitation on Sale and Lease-Back Transactions. The Company will shall not, and will shall not permit any Restricted Subsidiary of its Subsidiaries to, enter into any Sale and Lease-Back Transaction unless (ai) the net proceeds consideration received in such Sale and Lease-Back Transaction are is at least equal to the fair market value of the property sold; , as determined by the Board of Directors in good faith, and (bii) the Company could incur the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause to be applied the Asset Sale Proceeds of such transaction in accordance with Section 4.10 of this Indenture4.8.

Appears in 1 contract

Samples: Default and Remedies (Renaissance Cosmetics Inc /De/)

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 (ai) the net proceeds consideration received in such Sale and Lease-Back Transaction are is at least equal to the fair market value of the property sold; , as determined by a Board Resolution of the Company, and (bii) the Company could incur the Attributable Indebtedness in respect of such Sale and Lease-Lease- Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause to be applied the Asset Sale Proceeds of such transaction in accordance with Section 4.10 of this Indenture4.10.

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 Restricted Subsidiary to, directly or indirectly, enter into into, assume, guarantee or otherwise become liable with respect to, any Sale and Lease-Back Transaction unless (ai) the net proceeds received in from such Sale and Lease-Back Transaction are at least equal to the fair market value Fair Market Value of the property sold; such Property being transferred and (bii) the Company could incur the Attributable Indebtedness in respect of or such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause Subsidiary would have been permitted to be applied the Asset Sale Proceeds of enter into such transaction under the covenants described in accordance with Section 4.10 of this IndentureSections 4.12, 4.13 and 4.17.

Appears in 1 contract

Samples: Harperprints 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 (ai) the net proceeds consideration received in such Sale and Lease-Back Transaction are is at least equal to the fair market value of the property sold; , as determined by a board resolution of the Company and (bii) the Company could incur the Attributable Indebtedness Debt in respect of such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause to be applied the Asset Sale Proceeds of such transaction in accordance with Section 4.10 of this Indenture4.03.

Appears in 1 contract

Samples: Indenture (Spanish Broadcasting System Inc)

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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 back Transaction unless (ai) the net proceeds consideration received in such Sale and Lease-Back Transaction are is at least equal to the fair market value of the property sold; , as determined by the Board of Directors of the Company and (bii) the Company could incur the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause to be applied the Asset Sale Proceeds of such transaction in accordance with Section 4.10 of this Indenture1011.

Appears in 1 contract

Samples: Louisiana Casino Cruises 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 (ai) the net proceeds consideration received in such Sale and Lease-Back Transaction are is at least equal to the fair market value of the property sold; , as determined by a Board Resolution of the Company, and (bii) the Company could incur the 57 -50- Attributable Indebtedness in respect of such Sale and Lease-Lease- Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause to be applied the Asset Sale Proceeds of such transaction in accordance with Section 4.10 of this Indenture4.10.

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 Restricted Subsidiary to, directly or indirectly, enter into into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (ai) the net proceeds received in from such Sale and Lease-Back Transaction are at least equal to the fair market value Fair Market Value of the property sold; such Property being transferred and (bii) the Company could incur the Attributable Indebtedness in respect of or such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause Subsidiary would have been permitted to be applied the Asset Sale Proceeds of enter into such transaction under the covenants described in accordance with Section 4.10 of this IndentureSections 4.12, 4.13 and 4.17.

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 Restricted Subsidiary to, enter into any Sale and Lease-Back Transaction unless (ai) the net proceeds consideration received in such Sale and Lease-Back Transaction are is at least equal to the fair market value of the property sold; , as determined in good faith by the Company's board of directors and evidenced by a board resolution and (bii) the Company could incur the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause to be applied the Asset Sale Proceeds of such transaction in accordance with Section 4.10 of this Indenture4.06.

Appears in 1 contract

Samples: Indenture (Carpenter W R North America Inc)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Restricted Subsidiary to, directly or indirectly, enter into into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (ai) the net proceeds received in from such Sale and Lease-Back Transaction are at least equal to the fair market value Fair Market Value of the property sold; such Property being transferred and (bii) the Company could incur the Attributable Indebtedness in respect of or such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause Subsidiary would have been permitted to be applied the Asset Sale Proceeds of enter into such transaction in accordance with Section 4.10 under the provisions of this IndentureSections 4.3, 4.4 and 4.10.

Appears in 1 contract

Samples: Supplemental Indenture (Grey Wolf Inc)

Limitation on Sale and Lease-Back Transactions. The Company will shall not, and will shall not permit any Restricted Subsidiary to, enter into any Sale and Lease-Back Transaction unless (ai) the net proceeds consideration received in such Sale and Lease-Back Transaction are is at least equal to the fair market value of the property sold; , as determined, in good faith, by the Board of Directors of the Company and (bii) the Company or such Restricted Subsidiary, as the case may be, could incur the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 4.05 of this Indenture; and (c) the Company shall apply or cause to be applied the Asset Sale Proceeds of such transaction in accordance with Section 4.10 of this Indenture4.06 hereof.

Appears in 1 contract

Samples: Indenture (United Industries Corp)

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