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, directly or indirectly, enter into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the 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

Appears in 2 contracts

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

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Limitation on Sale and Lease-Back Transactions. The Company will not, and nor will not it permit any Significant Subsidiary to, directly or indirectly, enter into, assume, guarantee guarantee, or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the proceeds from such Sale and Lease-Back Transaction are at least equal to the Fair Market Value of such Property being transferred and (ii) Transaction; provided, however, that the Company oror any Significant Subsidiary may enter into:

Appears in 2 contracts

Samples: Indenture (Sothebys Holdings Inc), Sothebys Holdings Inc

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, enter into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the 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 oror such Subsidiary would have been permitted to enter into such transaction under the provisions of Sections 4.03, 4.04 and 4.10.

Appears in 2 contracts

Samples: Trend Drilling Co, Nabors Industries Inc

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, enter into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the 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 oror such Subsidiary would have been permitted to enter into such transaction under Section 4.4, 4.16 and 4.17.

Appears in 1 contract

Samples: Brand Scaffold Services Inc

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, enter into, assume, guarantee or otherwise become liable with respect to into any Sale and Lease-Back back Transaction unless (i) the proceeds from consideration received in such Sale and Lease-Back Transaction are is at least equal to the Fair Market Value fair market value of such Property being transferred the property sold, as determined by the Board of Directors of the Company and (ii) the Company orcould incur the Attributable Indebtedness in respect of such Sale and Lease-Back Transaction in compliance with Section 1011.

Appears in 1 contract

Samples: Louisiana Casino Cruises 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, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the 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 oror such Subsidiary would have been permitted to enter into such transaction under the covenants described in Sections 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 shall not, and will shall not permit any Subsidiary to, directly or indirectly, enter into, assume, guarantee or otherwise become liable with respect to to, any Sale and Lease-Back Transaction unless (i) the 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 oror such Subsidiary would have been permitted to enter into such transaction under the covenants described in Sections 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 nor will not it permit any Subsidiary to, directly or indirectly, enter into, assume, guarantee guarantee, or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the proceeds from such Sale and Lease-Back Transaction are at least equal to the Fair Market Value of such Property being transferred and (ii) Transaction; provided, however, that the Company oror any Subsidiary may enter into:

Appears in 1 contract

Samples: Indenture (Wellpoint Health Networks Inc /Ca/)

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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, assume, guarantee or otherwise become liable with respect to into any Sale and Lease-Back Leaseback Transaction unless (i) the net proceeds from such of the Sale and Lease-Back Leaseback Transaction are at least equal to the Fair Market Value sum of such Property being transferred and (ii) all costs incurred by the Company oror any Subsidiary in connection with the acquisition of, and construction of any improvements on, the Principal Property to be leased and:

Appears in 1 contract

Samples: Indenture (Tupperware Brands Corp)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, enter into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the proceeds from such Sale and Lease-Back Transaction are at least equal to the Fair Market Value of such the Property being transferred and (ii) the Company oror such Subsidiary would have been permitted to enter into such transaction under the tests described under Section 1009 hereof.

Appears in 1 contract

Samples: Supplemental Indenture (Pride International Inc)

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, enter into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the 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 oror 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 a Capital lease Obligation and (b) Section 1015 hereof.

Appears in 1 contract

Samples: Pride International Inc

Limitation on Sale and Lease-Back Transactions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, enter into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the 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 oror such Subsidiary would have been permitted to enter into such transaction under the provisions of Sections 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 not, and will not permit any Subsidiary to, directly or indirectly, enter into, assume, guarantee or otherwise become liable with respect to any Sale and Lease-Back Transaction unless (i) the 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 oror 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 a Capital Lease Obligation and (b) Section 1015 hereof.

Appears in 1 contract

Samples: Supplemental Indenture (Pride International Inc)

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