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

Limitations on Sale and Lease-Back Transactions. (a) The Issuer will not, and will not permit any of its Subsidiaries to, enter into any Sale and Lease-Back Transaction with respect to any property of such Person, unless either: (i) the Issuer or that Subsidiary would be entitled pursuant to the provisions of Section 6.15 above (including any exception to the restrictions set forth therein) to issue, assume or guarantee Indebtedness secured by a Lien on any such property without equally and ratably securing the Notes, or (ii) the Issuer or that Subsidiary shall apply or cause to be applied, in the case of a sale or transfer for cash, an amount equal to the net proceeds thereof and, in the case of a sale or transfer otherwise than for cash, an amount equal to the fair market value of the property so leased, to the retirement, within 12 months after the effective date of the Sale and Lease-Back Transaction, of any of the Issuer’s Indebtedness ranking at least pari passu with the Notes and owing to a Person other than the Issuer or any of its Subsidiaries or to the construction or improvement of real property or personal property used by the Issuer or any of its Subsidiaries in the ordinary course of business.

Limitations on Sale and Lease-Back Transactions. (a) The Issuer will not, and will not permit any of its Subsidiaries to, enter into any Sale and Lease-Back Transaction with respect to any property of such PersonSpecified Property, unless either: (i) the The Issuer or that Subsidiary would be entitled pursuant to the provisions of Section 6.15 6.16 above (including any exception to the restrictions set forth therein) to issue, assume or guarantee Indebtedness secured by a Lien on any such property Specified Property without equally and ratably securing the Notes, or (ii) the The Issuer or that Subsidiary shall apply or cause to be applied, in the case of a sale or transfer for cash, an amount equal to the net proceeds thereof and, in the case of a sale or transfer otherwise than for cash, an amount equal to the fair market value of the property Specified Property so leased, to the retirement, within 12 twelve months after the effective date of the Sale and Lease-Back Transaction, of any of the Issuer’s 's Indebtedness ranking at least pari passu PARI PASSU with the Notes and owing to a Person other than the Issuer or any of its Subsidiaries or to the construction or improvement of real property or personal property used by the Issuer or any of its Subsidiaries in the ordinary course of business. These restrictions will not apply to transactions providing for a lease term, including any renewal, of not more than three years, and transactions between the Issuer and any of its Subsidiaries or between the Issuer's Subsidiaries.

Limitations on Sale and Lease-Back Transactions. (a) The Issuer will not, and will not permit any of its Subsidiaries to, enter into any Sale and Lease-Back Transaction with respect to any property of such Person, unless either: (i) the Issuer or that Subsidiary would be entitled pursuant to the provisions of Section 6.15 above (including any exception to the restrictions set forth therein) to issue, assume or guarantee Indebtedness secured by a Lien on any such property without equally and ratably securing the Notes, or (ii) the Issuer or that Subsidiary shall apply or cause to be applied, in the case of a sale or transfer for cash, an amount equal to the net proceeds thereof and, in the case of a sale or transfer otherwise than for cash, an amount equal to the fair market value of the property so leased, to the retirement, within 12 months after the effective date of the Sale and Lease-Back Transaction, of any of the Issuer’s Indebtedness ranking at least pari passu with the Notes and owing to a Person other than the Issuer or any of its Subsidiaries or to the construction or improvement of real property or personal property used by the Issuer or any of its Subsidiaries in the ordinary course of business. (b) These restrictions will not apply to (i) transactions providing for a lease term, including any renewal, of not more than three years, and (ii) transactions between the Issuer and any of its Subsidiaries or between the Issuer’s Subsidiaries.

Limitations on Sale and Lease-Back Transactions. (a) The Issuer will not, and will not permit any of its Subsidiaries to, enter into any Sale and Lease-Back Transaction with respect to any property of such PersonSpecified Property, unless either: (i) the The Issuer or that Subsidiary would be entitled pursuant to the provisions of Section 6.15 6.16 above (including any exception to the restrictions set forth therein) to issue, assume or guarantee Indebtedness secured by a Lien on any such property Specified Property without equally and ratably securing the Notes, or (ii) the The Issuer or that Subsidiary shall apply or cause to be applied, in the case of a sale or transfer for cash, an amount equal to the net proceeds thereof and, in the case of a sale or transfer otherwise than for cash, an amount equal to the fair market value of the property Specified Property so leased, to the retirement, within 12 months after the effective date of the Sale and Lease-Back Transaction, of any of the Issuer’s 's Indebtedness ranking at least pari passu with the Notes and owing to a Person other than the Issuer or any of its Subsidiaries or to the construction or improvement of real property or personal property used by the Issuer or any of its Subsidiaries in the ordinary course of business. These restrictions will not apply to transactions providing for a lease term, including any renewal, of not more than three years, and transactions between the Issuer and any of its Subsidiaries or between the Issuer's Subsidiaries.