Common use of Limitation on Sale and Leaseback Clause in Contracts

Limitation on Sale and Leaseback. Neither Borrower nor Guarantor will enter into any arrangement whereby it will sell or transfer any real property or improvements thereon or other fixed assets owned by it and then or thereafter rent or lease as lessee such property, improvements or assets or any part thereof, or other property which Borrower shall intend to use for substantially the same purposes as the property sold or transferred.

Limitation on Sale and Leaseback. Neither Borrower nor Guarantor will enter into any arrangement whereby it will sell or transfer any real property or improvements thereon or other fixed assets owned by it and then or thereafter rent or lease as lessee such property, improvements or assets or any part thereof, or other property which Borrower or Guarantor shall intend to use for substantially the same purposes as the property sold or transferred, except as permitted by Section 6.6 hereof.

Limitation on Sale and Leaseback. Neither Borrower nor Guarantor and Guarantors will not enter into any arrangement whereby it any of them will sell or transfer any real property or improvements thereon or 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, or other property which Borrower any of them shall intend to use for substantially the same purposes as the property sold or transferred.

Limitation on Sale and Leaseback. Neither Borrower nor any Guarantor will enter into any arrangement whereby it will sell or transfer any real property or improvements thereon or other fixed assets owned by it and then or thereafter rent or lease as lessee such property, improvements or assets or any part thereof, or other property which Borrower or such Guarantor shall intend to use for substantially the same purposes as the property sold or transferred.