Common use of Limitations on Sale and Leaseback Transactions Clause in Contracts

Limitations on Sale and Leaseback Transactions. (a) The Company shall not, and shall not permit any Significant Subsidiary that guarantees the Notes to, enter into any Sale and Leaseback Transaction with respect to any Principal Property, unless either: (i) the Company or such Significant Subsidiary would be entitled pursuant to the provisions described above under ‎Section 4.08 to Incur a Lien securing Debt on such Principal Property at least equal in amount to the Attributable Debt with respect to such Sale and Leaseback Transaction without equally and ratably securing the Notes; or (ii) within 365 days after the closing date of such Sale and Leaseback Transaction, the Company or such Significant 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, (A) to the retirement of Debt of the Company ranking at least on a parity with the Notes or Debt of any Subsidiary, in each case owing to a Person other than the Company or any of its Subsidiaries or (B) to the acquisition, purchase, construction, development, extension or improvement (including any capital expenditure) of any property or assets of the Company or any Subsidiary used or to be used by or for the benefit of the Company or any Subsidiary. This restriction will not apply to: (i) transactions providing for a lease term of three years or less; and (ii) transactions between the Company and any of its Significant Subsidiaries or between any Significant Subsidiaries.

Limitations on Sale and Leaseback Transactions. (a) The Neither the Company shall not, and shall not permit nor any Significant Subsidiary that guarantees the Notes to, may enter into any Sale and Leaseback Transaction with respect to any Principal Specified Property, unless either: either (ix) the Company or such Significant Subsidiary would be entitled pursuant to the provisions described above under ‎Section 4.08 Section 1006 to Incur incur Indebtedness secured by a Lien securing Debt on such Principal Specified Property at least equal in amount to the Attributable Debt with respect to such Sale and Leaseback Transaction without equally and ratably securing the Notes; or Securities or (iiy) within 365 days after the closing date of such Sale and Leaseback Transaction, the Company or such Significant 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 thereofthereof and, (A) in the case of a sale or transfer otherwise than for cash, an amount equal to the retirement fair market value (as determined in good faith by the Board of Debt Directors) of the Specified Property so leased, to the retirement, within 360 days after the effective date of such Sale and Leaseback Transaction, of Indebtedness of the Company ranking at least on a parity with the Notes Securities or Debt Indebtedness of any Subsidiary, in each case owing to a Person other than the Company or any Affiliate of its Subsidiaries the Company or (B) to the acquisition, purchase, construction, development, extension or improvement (including any capital expenditure) of any real or personal property or assets of the Company or any Subsidiary used or to be used by or for the benefit of the Company or any SubsidiarySubsidiary in the ordinary course of business. This restriction The restrictions set forth in the preceding sentence will not apply to: to (i) transactions providing for a lease term for a term, including any renewal thereof, of three not more than five years or less; and (ii) transactions between the Company and any of its Significant Subsidiaries a Subsidiary or between any Significant Subsidiaries.

Limitations on Sale and Leaseback Transactions. (a) The Company shall not, and shall not permit any Significant Subsidiary that guarantees the Notes to, enter into any Sale and Leaseback Transaction with respect to any Principal Property, unless either: (i) the Company or such Significant Subsidiary would be entitled pursuant to the provisions described above under ‎Section Section 4.08 to Incur a Lien securing Debt on such Principal Property at least equal in amount to the Attributable Debt with respect to such Sale and Leaseback Transaction without equally and ratably securing the Notes; or (ii) within 365 days after the closing date of such Sale and Leaseback Transaction, the Company or such Significant 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, (A) to the retirement of Debt of the Company ranking at least on a parity with the Notes or Debt of any Subsidiary, in each case owing to a Person other than the Company or any of its Subsidiaries or (B) to the acquisition, purchase, construction, development, extension or improvement (including any capital expenditure) of any property or assets of the Company or any Subsidiary used or to be used by or for the benefit of the Company or any Subsidiary. This restriction will not apply to: (i) transactions providing for a lease term of three years or less; and (ii) transactions between the Company and any of its Significant Subsidiaries or between any Significant Subsidiaries.

Limitations on Sale and Leaseback Transactions. (a) The Company shall not, and shall not permit any Significant Subsidiary that guarantees the Notes to, enter into any Sale and Leaseback Transaction with respect to any Principal Property, unless either: : (i) the Company or such Significant Subsidiary would be entitled pursuant to the provisions described above under ‎Section 4.08 Section 4.10 to Incur a Lien securing Debt on such Principal Property at least equal in amount to the Attributable Debt with respect to such Sale and Leaseback Transaction without equally and ratably securing the Notes; or or (ii) within 365 days after the closing date of such Sale and Leaseback Transaction, the Company or such Significant 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, (A) to the retirement of Debt of the Company ranking at least on a parity with the Notes or Debt of any Subsidiary, in each case owing to a Person other than the Company or any of its Subsidiaries or (B) to the acquisition, purchase, construction, development, extension or improvement (including any capital expenditure) of any property or assets of the Company or any Subsidiary used or to be used by or for the benefit of the Company or any Subsidiary. This restriction will not apply to: (i) transactions providing for a lease term of three years or less; and (ii) transactions between the Company and any of its Significant Subsidiaries or between any Significant Subsidiaries.

Limitations on Sale and Leaseback Transactions. (a) The Neither the Company shall not, and shall not permit nor any Significant Subsidiary that guarantees the Notes to, may enter into any Sale and Leaseback Transaction with respect to any Principal Specified Property, unless either: either (ix) the Company or such Significant Subsidiary would be entitled pursuant to the provisions described above under ‎Section 4.08 Section 1006 to Incur issue, assume or guarantee Indebtedness secured by a Lien securing Debt on such Principal Specified Property at least equal in amount to the Attributable Debt with respect to such Sale and Leaseback Transaction without equally and ratably securing the Notes; or Securities or (iiy) within 365 days after the closing date of such Sale and Leaseback Transaction, the Company or such Significant 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 thereofthereof and, (A) in the case of a sale or transfer otherwise than for cash, an amount equal to the retirement fair market value (as determined in good faith by the Board of Debt Directors) of the Specified Property so leased, to the retirement, within 360 days after the effective date of such Sale and Leaseback Transaction, of Indebtedness of the Company ranking at least on a parity with the Notes or Debt of any Subsidiary, in each case Securities and owing to a Person other than the Company or any Affiliate of its Subsidiaries the Company or (B) to the acquisition, purchase, construction, development, extension construction or improvement (including any capital expenditure) of any real or personal property or assets of used by the Company or any Subsidiary used or to be used by or for in the benefit ordinary course of business. The restrictions set forth in the Company or any Subsidiary. This restriction preceding sentence will not apply to: to (i) transactions providing for a lease term for a term, including any renewal thereof, of three not more than five years or less; and (ii) transactions between the Company and any of its Significant Subsidiaries a Subsidiary or between any Significant Subsidiaries.