Common use of Restriction of Sales and Leaseback Transaction Clause in Contracts

Restriction of Sales and Leaseback Transaction. So long as the Securities of any series remain Outstanding, the Guarantor and the Company will not, and will not permit any Restricted Subsidiary to, enter into any Sale and Leaseback Transaction, unless (a) the Guarantor, the Company or such Restricted Subsidiary would be entitled to incur Secured Debt only by reason of the last paragraph of Section 1005 equal in amount to the net proceeds of the property sold or transferred or to be sold or to be transferred pursuant to such Sale and Leaseback Transaction and secured by a Security Interest on the property to be leased without equally and ratably securing the Securities of any series as provided in said Section, or (b) the Guarantor, the Company or a Restricted Subsidiary shall apply, within 180 days after the effective date of such sale or transfer, an amount equal to such net proceeds to (i) the acquisition, construction, development or improvement of properties, facilities or equipment which are, or upon such acquisition, construction, development or improvement will be, a Principal Facility or Facilities or a part thereof or (ii) the redemption of Securities in accordance with the provisions of Article Eleven, or to the repayment or redemption of Senior Funded Debt of the Guarantor, the Company or of any Restricted Subsidiary (other than Senior Funded Debt owed to any Restricted Subsidiary), or in part to such acquisition, construction, development or improvement and in part to such redemption and/or repayment, provided that, in lieu of applying an amount equal to such net proceeds to such redemption, the Guarantor or the Company may, within 180 days after such sale or transfer, deliver to the Trustee Securities (other than Securities made the basis of a reduction in a mandatory sinking fund payment pursuant to Section 1202) or deliver to the appropriate indenture trustee other debt securities constituting Senior Funded Debt (other than debt securities made the basis of a reduction in a mandatory sinking fund payment) for cancellation and thereby reduce the amount to be applied to the redemption of Securities or Senior Funded Debt pursuant to clause (ii) above by an amount equivalent to the aggregate principal amount of Securities or other debt securities so delivered (for the purposes of making such calculation the principal amount of Original Issue Discount Securities so canceled shall mean the portion thereof that could have been declared due and payable pursuant to Section 502 at the time canceled). Redemption of Securities pursuant to this Section 1006 shall not be used as credits against mandatory sinking fund payments.

Restriction of Sales and Leaseback Transaction. So long as the Securities of any series Notes remain Outstanding, the Guarantor and the Company will not, and will not permit any Restricted Subsidiary to, enter into any Sale and Leaseback Transaction, unless (a) the Guarantor, the Company or such Restricted Subsidiary would be entitled to incur Secured Debt only by reason of the last paragraph of Section 1005 10.05 equal in amount to the net proceeds of the property sold or transferred or to be sold or to be transferred pursuant to such Sale and Leaseback Transaction and secured by a Security Interest on the property to be leased without equally and ratably securing the Securities of any series Notes as provided in said Section, or (b) the Guarantor, the Company or a Restricted Subsidiary shall apply, within 180 days after the effective date of such sale or transfer, an amount equal to such net proceeds to (i) the acquisition, construction, development or improvement of properties, facilities or equipment which are, or upon such acquisition, construction, development or improvement will be, a Principal Facility or Facilities or a part thereof or (ii) the redemption of Securities Notes in accordance with the provisions of Article Eleven, or to the repayment or redemption of Senior Funded Debt of the Guarantor, the Company or of any Restricted Subsidiary (other than Senior Funded Debt owed to any Restricted Subsidiary), or in part to such acquisition, construction, development or improvement and in part to such redemption and/or repayment, provided that, in lieu of applying an amount equal to such net proceeds to such redemption, the Guarantor or the Company may, within 180 days after such sale or transfer, deliver to the Trustee Securities (other than Securities made the basis of a reduction in a mandatory sinking fund payment pursuant to Section 1202) Notes or deliver to the appropriate indenture trustee other debt securities constituting Senior Funded Debt (other than such debt securities made the basis of a reduction in a mandatory sinking fund payment) for cancellation and thereby reduce the amount to be applied to the redemption of Securities Notes or Senior Funded Debt pursuant to clause (ii) above by an amount equivalent to the aggregate principal amount of Securities Notes or other debt securities so delivered (for the purposes of making such calculation the principal amount of Original Issue Discount Securities so canceled shall mean the portion thereof that could have been declared due and payable pursuant to Section 502 at the time canceled). Redemption of Securities pursuant to this Section 1006 shall not be used as credits against mandatory sinking fund paymentsdelivered.

Restriction of Sales and Leaseback Transaction. So long as the Securities of any series remain Outstanding, the Guarantor and the Company will not, and will not permit any Restricted Subsidiary to, enter into any Sale and Leaseback Transaction, unless (a) the Guarantor, the Company or such Restricted Subsidiary would be entitled to incur Secured Debt only by reason of the last paragraph of Section 1005 equal in amount to the net proceeds of the property sold or transferred or to be sold or to be transferred pursuant to such Sale and Leaseback Transaction and secured by a Security Interest on the property to be leased without equally and ratably securing the Securities of any series as provided in said Section, or (b) the Guarantor, the Company or a Restricted Subsidiary shall apply, within 180 days after the effective date of such sale or transfer, an amount equal to such net proceeds to (i) the acquisition, construction, development or improvement of properties, facilities or equipment which which; are, or or, upon such acquisition, construction, development or improvement will be, a Principal Facility or Facilities or a part thereof or (ii) the redemption of Securities in accordance with the provisions of Article Eleven, or to the repayment or redemption of Senior Funded Debt of the Guarantor, the Company or of any Restricted Subsidiary (other than Senior Funded Debt owed to any Restricted Subsidiary), or in part to such acquisition, construction, development or improvement and in part to such redemption and/or repayment, provided that, in lieu of applying an amount equal to such net proceeds to such redemption, the Guarantor or the Company may, within 180 days after such sale or transfer, deliver to the Trustee Securities (other than Securities made the basis of a reduction in a mandatory sinking fund payment pursuant to Section 1202) or deliver to the appropriate indenture trustee other debt securities constituting Senior Funded Debt (other than debt securities made the basis of a reduction in a mandatory sinking fund payment) for cancellation and thereby reduce the amount to be applied to the redemption of Securities or Senior Funded Debt pursuant to clause (ii) above by an amount equivalent to the aggregate principal amount of Securities or other debt securities so delivered (for the purposes of making such calculation the principal amount of Original Issue Discount Securities so canceled shall mean the portion thereof that could have been declared due and payable pursuant to Section 502 at the time canceled). Redemption of Securities pursuant to this Section 1006 shall not be used as credits against mandatory sinking fund payments.

Restriction of Sales and Leaseback Transaction. So long as the Securities of any series Notes remain Outstanding, the Guarantor and the Company will not, and will not permit any Restricted Subsidiary to, enter into any Sale and Leaseback Transaction, unless (a) the Guarantor, the Company or such Restricted Subsidiary would be entitled to incur Secured Debt only by reason of the last paragraph of Section 1005 10.05 equal in amount to the net proceeds of the property sold or transferred or to be sold or to be transferred pursuant to such Sale and Leaseback Transaction and secured by a Security Interest on the property to be leased without equally and ratably securing the Securities of any series Notes as provided in said Section, or (b) the Guarantor, the Company or a Restricted Subsidiary shall apply, within 180 days after the effective date of such sale or transfer, an amount equal to such net proceeds to (i) the acquisition, construction, development or improvement of properties, facilities or equipment which are, or upon such acquisition, construction, development or improvement will be, a Principal Facility or Facilities or a part thereof or (ii) the redemption of Securities Notes in accordance with the provisions of Article Eleven, or to the repayment or redemption of Senior Funded Debt of the Guarantor, the Company or of any Restricted Subsidiary (other than Senior Funded Debt owed to any Restricted Subsidiary), or in part to such acquisition, construction, development or improvement and in part to such redemption and/or repayment, provided that, in lieu of applying an amount equal to such net proceeds to such redemption, the Guarantor or the Company may, within 180 days after such sale or transfer, deliver to the Trustee Securities (other than Securities made the basis of a reduction in a mandatory sinking fund payment pursuant to Section 1202) Notes or deliver to the appropriate indenture trustee other debt securities constituting Senior Funded Debt (other than such debt securities made the basis of a reduction in a mandatory sinking fund payment) for cancellation and thereby reduce the amount to be applied to the redemption of Securities Notes or Senior Funded Debt pursuant to clause (ii) above by an amount equivalent to the aggregate principal amount of Securities Notes or other debt securities so delivered (for the purposes of making such calculation the principal amount of Original Issue Discount Securities so canceled shall mean the portion thereof that could have been declared due and payable pursuant to Section 502 at the time canceled). Redemption of Securities pursuant to this Section 1006 shall not be used as credits against mandatory sinking fund paymentsdelivered.