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

Restriction on Sale and Leaseback Transactions. The Company shall not, and shall not permit any Restricted Subsidiary to, enter into any Sale and Leaseback Transaction, unless: (a) notice is promptly given to the Trustee of the Sale and Leaseback Transaction; (b) fair value is received by the Company or the relevant Restricted Subsidiary for the property sold (as determined in good faith by the Company or the relevant Restricted Subsidiary and so certified in an Officer's certificate delivered to the Trustee); and (c) the Company or a Restricted Subsidiary, within 365 days after the completion of the Sale and Leaseback Transaction, apply an amount equal to the net proceeds therefrom either: (i) to the redemption, repayment or retirement of debt securities of any series under the indenture (including the cancellation by the Trustee of any debt securities of any series delivered by the Company to the Trustee) or the Company's Senior Indebtedness, or (ii) to the purchase by the Company or any Restricted Subsidiary of property substantially similar to the property sold or transferred. In addition, the Company and its Restricted Subsidiaries may enter into a Sale and Leaseback Transaction if immediately thereafter the sum of (1) the aggregate principal amount of all Secured Debt outstanding (excluding Secured Debt permitted under clauses (a) through (d) of Section 5.01 hereof or Secured Debt in relation to which the Notes have been secured equally and ratably (or prior to)) and (2) all Attributable Debt in respect of Sale and Leaseback Transactions (excluding Attributable Debt in respect of Sale and Leaseback Transactions satisfying the conditions set forth in clauses (a), (b) and (c) above) as of the date of determination would not exceed 20% of Consolidated Net Tangible Assets.

Restriction on Sale and Leaseback Transactions. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, enter into any Sale and Leaseback Transaction, unless: (ai) written notice is promptly given to the Trustee of the Sale and Leaseback Transaction; (bii) fair value is received by the Company or the relevant Restricted Subsidiary for the property sold (as determined in good faith by the Company or the relevant Restricted Subsidiary and so certified in an Officer's certificate ’s Certificate delivered to the Trustee); and (ciii) the Company or a Restricted Subsidiary, within 365 days after the completion of the Sale and Leaseback Transaction, apply an amount equal to the net proceeds therefrom either: (iA) to the redemption, repayment or retirement of debt securities Securities of any series under the indenture Base Indenture (including the cancellation by the Trustee of any debt securities of any series delivered by the Company to the Trustee) or the Company's ’s Senior Indebtedness, ; or (iiB) to the purchase by the Company or any Restricted Subsidiary of property substantially similar to the property sold or transferred. . (b) In addition, the Company and its Restricted Subsidiaries may enter into a Sale and Leaseback Transaction if immediately thereafter the sum of (1i) the aggregate principal amount of all Secured Debt outstanding (excluding Secured Debt permitted under clauses (aa)(i) through (dv) of Section 5.01 hereof or Secured Debt in relation to which the Notes have been secured equally and ratably (or prior to)) and (2ii) all Attributable Debt in respect of Sale and Leaseback Transactions (excluding Attributable Debt in respect of Sale and Leaseback Transactions satisfying as to which the conditions provisions set forth in clauses (aa)(i), (bii) and (ciii) aboveof this Section 5.02 have been complied with) as of the date of determination would not exceed 20% of Consolidated Net Tangible Assets.

Restriction on Sale and Leaseback Transactions. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, enter into any Sale and Leaseback Transaction, unless: (ai) written notice is promptly given to the Trustee of the Sale and Leaseback Transaction; (bii) fair value is received by the Company or the relevant Restricted Subsidiary for the property sold (as determined in good faith by the Company or the relevant Restricted Subsidiary and so certified in an Officer's certificate Officers’ Certificate delivered to the Trustee); and (ciii) the Company or a Restricted Subsidiary, within 365 days after the completion of the Sale and Leaseback Transaction, apply an amount equal to the net proceeds therefrom either: (iA) to the redemption, repayment or retirement of debt securities Securities of any series under the indenture Base Indenture (including the cancellation by the Trustee of any debt securities of any series delivered by the Company to the Trustee) or the Company's ’s Senior Indebtedness, ; or (iiB) to the purchase by the Company or any Restricted Subsidiary of property substantially similar to the property sold or transferred. . (b) In addition, the Company and its Restricted Subsidiaries may enter into a Sale and Leaseback Transaction if immediately thereafter the sum of (1i) the aggregate principal amount of all Secured Debt outstanding (excluding Secured Debt permitted under clauses (aa)(i) through (dv) of Section 5.01 hereof or Secured Debt in relation to which the Notes have been secured equally and ratably (or prior to)) and (2ii) all Attributable Debt in respect of Sale and Leaseback Transactions (excluding Attributable Debt in respect of Sale and Leaseback Transactions satisfying as to which the conditions provisions set forth in clauses (aa)(i), (bii) and (ciii) aboveof this Section 5.02 have been complied with) as of the date of determination would not exceed the greater of $500,000,000 or 20% of Consolidated Net Tangible Assets.

Restriction on Sale and Leaseback Transactions. The Company shall not, and shall not permit any Restricted Subsidiary to, enter into any Sale and Leaseback Transaction, unless: (a) notice is promptly given to the Trustee of the Sale and Leaseback Transaction; (b) fair value is received by the Company or the relevant Restricted Subsidiary for the property sold (as determined in good faith by the Company or the relevant Restricted Subsidiary and so certified in an Officer's ’s certificate delivered to the Trustee); and (c) the Company or a Restricted Subsidiary, within 365 days after the completion of the Sale and Leaseback Transaction, apply an amount equal to the net proceeds therefrom either: (i) to the redemption, repayment or retirement of debt securities of any series under the indenture (including the cancellation by the Trustee of any debt securities of any series delivered by the Company to the Trustee) or the Company's ’s Senior Indebtedness, or (ii) to the purchase by the Company or any Restricted Subsidiary of property substantially similar to the property sold or transferred. In addition, the Company and its Restricted Subsidiaries may enter into a Sale and Leaseback Transaction if immediately thereafter the sum of (1) the aggregate principal amount of all Secured Debt outstanding (excluding Secured Debt permitted under clauses (a) through (d) of Section 5.01 hereof or Secured Debt in relation to which the Notes have been secured equally and ratably (or prior to)) and (2) all Attributable Debt in respect of Sale and Leaseback Transactions (excluding Attributable Debt in respect of Sale and Leaseback Transactions satisfying the conditions set forth in clauses (a), (b) and (c) above) as of the date of determination would not exceed 20% of Consolidated Net Tangible Assets.