Common use of Limitation on Sale and Leaseback Clause in Contracts

Limitation on Sale and Leaseback. No Obligor will enter into any arrangement whereby it will sell or transfer any real property or improvements thereon or substantially all of the fixed assets owned by it and then or thereafter rent or lease as lessee such property, improvements or assets or any part thereof which any of them shall intend to use for substantially the same purposes as the property sold or transferred.

Appears in 2 contracts

Samples: Loan and Security Agreement (Access to Money, Inc.), Loan and Security Agreement (Access to Money, Inc.)

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Limitation on Sale and Leaseback. No Obligor will enter into any arrangement whereby it will sell or transfer any real property or improvements thereon or substantially all of the other fixed assets owned by it and then or thereafter rent or lease as lessee such property, improvements or assets or any part thereof thereof, or other property which any of them such Obligor shall intend to use for substantially the same purposes as the property sold or transferred.

Appears in 1 contract

Samples: Loan and Security Agreement (Hooper Holmes Inc)

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Limitation on Sale and Leaseback. No Obligor The Obligors will not enter --------------------------------- into any arrangement whereby it any of them will sell or transfer any real property or improvements thereon or substantially all of the other fixed assets owned by it any of them and then or thereafter rent or lease as lessee such property, improvements or assets or any part thereof which any of them shall intend to use for substantially the same purposes as the property sold or transferred.

Appears in 1 contract

Samples: Loan and Security Agreement (Drugmax Com Inc)

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