Common use of REAL PROPERTY DISPOSITIONS Clause in Contracts

REAL PROPERTY DISPOSITIONS. Make any Real Property Disposition or enter into any agreement to make any Real Property Disposition, except: (a) Real Property Dispositions required by a Governmental Authority in connection with an acquisition by the Borrower or one or more of its Subsidiaries of (i) a controlling equity or other ownership interest in another Person (including the purchase of an option, warrant or convertible or similar type security to acquire such a controlling interest at the time it becomes exercisable by the holder thereof), whether by purchase of such equity or other ownership interest or upon exercise of an option or warrant for, or conversion of securities into, such equity or other ownership interest, or (ii) assets of another Person which constitute all or substantially all of the assets of such Person or of a division or line or lines of business conducted by such Person; (b) Real Property Dispositions to the extent that (i) the real property Disposed is exchanged for credit against the purchase price of replacement real property that is used or useful, or expected to be useful, in the lines of business conducted by the Borrower and its Subsidiaries on the date hereof or any business substantially related or incidental thereto; or (ii) the proceeds of such Real Property Disposition are thereafter applied either (A) to the purchase and/or construction price of replacement real property that is used or useful, or expected to be useful, in the lines of business conducted by the Borrower and its Subsidiaries on the date hereof or any business substantially related or incidental thereto, or (B) to the permanent repayment of outstanding Indebtedness of the Borrower or any of its Subsidiaries, provided that prior to the actual use of proceeds in the manner described in Section 7.08(b)(ii) (unless such use is substantially concurrent with the Real Property Disposition at issue), any Real Property Disposition must be otherwise permitted pursuant to another subsection of this Section 7.08 until the time such use of proceeds makes such Real Property Disposition permissible under this Section 7.08(b); (c) Real Property Dispositions by any Subsidiary to the Borrower or to another Subsidiary; (d) Real Property Dispositions made in connection with, or as a part of, a Disposition permitted by Section 7.03; and (e) other Real Property Dispositions by the Borrower and its Subsidiaries not otherwise permitted under this Section 7.08; provided that (i) at the time of such Disposition, no Default shall exist or would result from such Disposition and (ii) either (A) the value of such Real Property Disposition, when combined with all other Real Property Dispositions made as part of the same transaction or a related series of transactions, does not exceed $100,000,000 or (B) the value of such Real Property Disposition, when combined with the value of all other Real Property Dispositions made in reliance on this Section 7.08(e)(ii)(B) during the term of this Agreement (other than any such Real Property Dispositions as are or have become permitted under another clause of this Section 7.08), shall not exceed 15% of the consolidated total assets from time to time of the Borrower and its Subsidiaries on a consolidated basis.

REAL PROPERTY DISPOSITIONS. Make any Real Property Disposition or enter into any agreement to make any Real Property Disposition, except: (a) Real Property Dispositions required by a Governmental Authority in connection with an acquisition by the Borrower or one or more of its Subsidiaries of (i) a controlling equity or other ownership interest in another Person (including the purchase of an option, warrant or convertible or similar type security to acquire such a controlling interest at the time it becomes exercisable by the holder thereof), whether by purchase of such equity or other ownership interest or upon exercise of an option or warrant for, or conversion of securities into, such equity or other ownership interest, or (ii) assets of another Person which constitute all or substantially all of the assets of such Person or of a division or line or lines of business conducted by such Person; (b) Real Property Dispositions to the extent that (i) the real property Disposed is exchanged for credit against the purchase price of replacement real property that is used or useful, or expected to be useful, in the lines business of business conducted by the Borrower and or its Subsidiaries on the date hereof or any business substantially related or incidental thereto; or (ii) the proceeds of such Real Property Disposition are thereafter applied either (A) to the purchase and/or construction price of replacement real property that is used or useful, or expected to be useful, in the lines business of business conducted by the Borrower and its Subsidiaries on the date hereof or any business substantially related or incidental thereto, or (B) to the permanent repayment of outstanding Indebtedness of the Borrower or any of its Subsidiaries, provided that prior to the actual use of proceeds in the manner described in Section 7.08(b)(ii10.8(b)(ii) (unless such use is substantially concurrent with the Real Property Disposition at issue), any Real Property Disposition must be otherwise permitted pursuant to another subsection of this Section 7.08 10.8 until the time such use of proceeds makes such Real Property Disposition permissible under this Section 7.08(b10.8(b); (c) Real Property Dispositions by any Subsidiary to the Borrower or to another Subsidiary; (d) Real Property Dispositions made in connection with, or as a part of, a Disposition permitted by Section 7.0310.3; and (e) other Real Property Dispositions by the Borrower and its Subsidiaries not otherwise permitted under this Section 7.0810.8; provided that (i) at the time of such Disposition, no Default shall exist or would result from such Disposition and (ii) either (A) the value of such Real Property Disposition, when combined with all other Real real Property Dispositions made as a part of the same transaction or a related series of transactions, does not exceed $100,000,000 or (B) the value of such Real Property Disposition, when combined with the value of all other Real real Property Dispositions made in reliance on this Section 7.08(e)(ii)(B10.8(e)(ii)(B) during the term of this Agreement (other than any such Real Property Dispositions as are or have become permitted under another clause of this Section 7.0810.8), shall not exceed 15% of the consolidated total assets from time to time of the Borrower and its Subsidiaries on a consolidated basis.