Restriction on Leases. Borrower shall not, nor shall it permit any of its Subsidiaries to, (i) become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease, whether an Operating Lease or a Capital Lease (other than intercompany leases between or among Borrower and its wholly-owned Guarantors), or (ii) cause or permit the liability of Borrower or Subsidiary under or in respect of such lease to increase by any material amount, in each case unless, immediately after giving effect to such incurrence of or increase in liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current or any future period of 12 consecutive calendar months shall not exceed $25,000,000; provided that the Agent may approve increases in such amount of up to $12,500,000 in the aggregate in connection with Permitted Acquisitions.
Restriction on Leases. Borrowers shall not, and shall not permit any of their Subsidiaries to, become liable in any way, whether directly by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease for equipment (other than intercompany leases between Borrowers), unless, immediately after giving effect to the incurrence of liability with respect to such lease, the aggregate amount of all rents paid or payable by Company and its Subsidiaries on a consolidated basis under all such leases entered into after the Closing Date at the time in effect during the then current Fiscal Year or any future period of 12 consecutive calendar months shall not exceed $1,000,000; provided, however, that this subsection 6.9 shall not prohibit Company or its Subsidiaries from incurring obligations pursuant to the renewal, extension or replacement of leases in effect at the Closing Date so long as such leases as renewed, extended or replaced are not more disadvantageous in any material respect to Company and its Subsidiaries and the Lenders than the leases so renewed, extended or replaced.
Restriction on Leases. Lessee shall not, and shall not permit any of its Subsidiaries to, become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease, whether an Operating Lease or a Capital Lease (other than intercompany leases between Lessee and its wholly-owned Subsidiaries, including Lessor); provided, however, that Lessee may become so obligated to the extent that, and only to the extent that, immediately after giving effect to the incurrence of liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current fiscal year do not exceed $60 million plus the amount of Consolidated Rental Payments made during such fiscal year in respect of up to four 747-400F aircraft, subject to the agreement dated June 9, 1997 between Lessee and The Boeing Company regarding the purchase of 10 new 747-400F aircraft, leased by the Lessee within twelve months following the Initial Borrowing Date plus an amount not to exceed $12 million during any fiscal year, equal to Consolidated Rental Payments incurred in connection with sale and leaseback transactions described in subsection 7(j), plus Consolidated Rental Payments assumed pursuant to acquisitions permitted under subsection 7(g)(5).
Restriction on Leases. Borrower shall not, and shall not permit any of its Subsidiaries to, become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease (other than the intercompany leases between Borrower and its wholly-owned Subsidiaries), unless, immediately after giving effect to the incurrence of liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current Fiscal Year do not exceed $7,500,000 in the aggregate.
Restriction on Leases. Except for the Guarantor Lease and as set forth below, Borrower shall not hereafter enter into any Lease or other rental or occupancy arrangement or concession agreement with respect to the Mortgaged Property or any portion thereof or otherwise permit any occupancy of the Mortgaged Property other than by Guarantor. Borrower shall not modify, amend or terminate any Lease, give any consents, waive any obligations under any leases or release any tenant of any Lease, without, in each instance, Lender’s consent, such consent not to be unreasonably withheld, conditioned or delayed. Borrower shall perform and comply, in all material respects, with all of the landlord’s obligations under each Lease and shall not suffer or permit any material breach or default on the part of the landlord to occur thereunder. In addition to the Guarantor Lease, Guarantor shall have the right to enter into subleases with third parties for occupancy of the Improvements without Lender’s consent, provided that (i) any such sublease shall be subject and subordinate to the Liens in favor of Lender under this Agreement and (ii) all subleases, in the aggregate, shall be for (1) less than 50% of the leasable space of any single building and (2) less than 30% of the aggregate leasable improved space for the Mortgaged Property. Borrower shall provide Lender with written notice of any such permitted sublease prior to Guarantor entering into any such sublease. In no event will Borrower enter into any Capital Leases.
Restriction on Leases. 71 7.10 Sales and Lease-Backs ........................................................... 71 7.11 Sale or Discount of Receivables ................................................. 72 7.12 Transactions with Shareholders and Affiliates ................................... 72 7.13
Restriction on Leases. Lessee shall not, and shall not permit any of its Subsidiaries to, become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease, whether an Operating Lease or a Capital Lease (other than intercompany leases between Lessee and its wholly-owned Subsidiaries, including Lessor); provided, however, that Lessee may become so obligated to the extent that, and only to the extent that, immediately after giving effect to the incurrence of liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current fiscal year do not exceed $60 million plus an amount not to exceed $12 million during any fiscal year, equal to Consolidated Rental Payments incurred in connection with sale leaseback transactions described in subsection 7(j) plus Consolidated Rental Payments assumed pursuant to acquisitions permitted under subsection 7(g)(5).
Restriction on Leases. Company shall not, and shall not permit any of its Subsidiaries to, become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease, whether an Operating Lease or a Capital Lease (other than intercompany leases between Company and its wholly owned Subsidiaries); provided however that Company may become so obligated to the extent that, and only to the extent that, immediately after giving effect to the incurrence of liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current Fiscal Year do not exceed $35 million plus the amount of Consolidated Rental Payments made during such Fiscal Year in respect of up to six 747-400F aircraft subject to Operating Leases as of the Fourth Restatement Date plus the amount of Consolidated Rental Payments in respect of up to two 747-400F aircraft per year, subject to the agreement dated June 9, 1997 between Company and The Boeing Company regarding the purchase of twelve new 747-400F aircraft and the option to purchase eight additional new 747-400F aircraft, plus an amount not to exceed $15 million during any Fiscal Year, equal to Consolidated Rental Payments incurred in connection with sale and leaseback transactions described in subsection 6.10, plus Consolidated Rental Payments assumed pursuant to acquisitions permitted under subsection 6.7(v). Notwithstanding the foregoing, the AFL III Leases shall be permitted hereunder and shall not be taken into account for purposes of determining compliance with the foregoing provisions of this subsection 6.9.
Restriction on Leases. The Borrower shall not become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease, whether such lease be an Operating Lease or a Capital Lease.
Restriction on Leases. Company shall not, and shall not permit any of its Subsidiaries to, become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease, whether an Operating Lease or a Capital Lease except for (a) obligations incurred in the ordinary course of business if immediately after giving effect to the incurrence of liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current Fiscal Year or any future period of 12 consecutive calendar months shall not exceed $500,000, and (b) obligations for leased office space not to exceed $200,000 in any Fiscal Year.
