Common use of Restriction on Leases Clause in Contracts

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. The 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 the Lessee and its wholly-owned Subsidiaries, including the Lessor); provided, however, that the 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 35 million plus the amount of Consolidated Rental Payments made during such fiscal year in respect of up to four eight 747-400F aircraftaircraft subject to Operating Leases as of the Initial Borrowing 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 1997, between the Lessee and The Boeing Company regarding the purchase of 10 twelve new 747-400F aircraft and the option to purchase eight additional new 747-400F aircraft, leased by the Lessee within twelve months following the Initial Borrowing Date plus an amount amount, not to exceed $12 15 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. The 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 the Lessee and its wholly-owned Subsidiaries, including the Lessor); provided, however, that the 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 35 million plus the amount of Consolidated Rental Payments made during such fiscal year in respect of up to four eight 747-400F aircraftaircraft subject to Operating Leases as of the Initial Borrowing 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 1997, between the Lessee and The Boeing Company regarding the purchase of 10 twelve new 747-400F aircraft, leased by and the Lessee within twelve months following the Initial Borrowing Date option to purchase eight additional new 747-400F aircraft, plus an amount amount, not to exceed $12 15 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).