Limitations on Sale and Lease-Back. The Company will not, and will not permit any Restricted Subsidiary to, sell or transfer (except to the Company or one or more Restricted Subsidiaries, or both) any Principal Property owned by it and which has been in full operation for more than 180 days prior to such sale or transfer with the intention (i) of taking back a lease on such property, except a lease for a temporary period (not exceeding 36 months), and (ii) that the use by the Company or such Restricted Subsidiary of such property will be discontinued on or before the expiration of the term of such lease (any such transaction being herein referred to as a “Sale and Lease-Back Transaction”), unless
Appears in 16 contracts
Samples: Credit Agreement (Rockwell Automation, Inc), Indenture (Meritor, Inc. (Nev)), Credit Agreement (Rockwell Automation, Inc)
Limitations on Sale and Lease-Back. The Company will not, and will not permit any Restricted Subsidiary to, sell or transfer (except to the Company or one or more Restricted Subsidiaries, or both) any Principal Property owned by it and which has been in full operation for more than 180 days prior to such sale or transfer with the intention (ia) of taking back a lease on such property, except a lease for a temporary period (not exceeding 36 months), ) and (iib) that the use by the Company or such Restricted Subsidiary of such property will be discontinued on or before the expiration of the term of such lease (any such transaction being herein referred to as a “Sale and Lease-Back Transaction”), unless:
Appears in 7 contracts
Samples: Credit Agreement (Rockwell Collins Inc), Bridge Credit Agreement (Rockwell Collins Inc), Credit Agreement (Rockwell Collins Inc)
Limitations on Sale and Lease-Back. The Company will not, and will not permit any Restricted Subsidiary to, sell or transfer (except to the Company or one or more Restricted Subsidiaries, or both) any Principal Property owned by it and which has been in full operation for more than 180 days prior to such sale or transfer with the intention (i) of taking back a lease on such property, except a lease for a temporary period (not exceeding 36 months), and (ii) that the use by the Company or such Restricted Subsidiary of such property will be discontinued on or before the expiration of the term of such lease (any such transaction being herein referred to as a “"Sale and Lease-Back Transaction”"), unless
Appears in 4 contracts
Samples: Maremont Exhaust Products, Inc., Rockwell International Corp, Rockwell Collins Inc
Limitations on Sale and Lease-Back. The Company will not, and will not permit any Restricted Subsidiary to, sell or transfer (except to the Company or one or more Restricted Subsidiaries, or both) any Principal Property owned by it and which has been in full operation for more than 180 days prior to such sale or transfer with the intention (i) of taking back a lease on such property, except a lease for a temporary period (not exceeding 36 months), and (ii) that the use by the Company or such Restricted Subsidiary of such property will be discontinued on or before the expiration of the term of such lease (any such transaction being herein referred to as a “Sale and Lease"SALE AND LEASE-Back Transaction”BACK TRANSACTION"), unless
Appears in 2 contracts
Samples: Credit Agreement (New Rockwell Collins Inc), Day Credit Agreement (New Rockwell Collins Inc)
Limitations on Sale and Lease-Back. The Company Borrower will not, and will not permit any Restricted Subsidiary to, sell or transfer (except to the Company Borrower or one or more Restricted Subsidiaries, or both) any Principal Property owned by it and which has been in full operation for more than 180 days prior to such sale or transfer with the intention (i) of taking back a lease on such property, except a lease for a temporary period (not exceeding 36 months), and (ii) that the use by the Company Borrower or such Restricted Subsidiary of such property will be discontinued on or before the expiration of the term of such lease (any such transaction being herein referred to as a “Sale and Lease-Back Transaction”), unless:
Appears in 1 contract
Samples: Credit Agreement (Arvinmeritor Inc)