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

Restrictions on Sale and Leaseback Transactions. The Company shall not, and will not cause, suffer or permit any Subsidiary to, enter into any Sale and Leaseback Transaction of any Principal Property unless at the effective time of such Sale and Leaseback Transaction (a) the Company or such Subsidiary would be entitled, without equally and ratably securing the Securities, to incur Secured Debt secured by a mortgage or security interest on the Principal Property to be leased pursuant to Section 10.09 above, or (b) the Company or such Subsidiary would be entitled, without equally and ratably securing the Securities, to incur Secured Debt in an amount at least equal to the Attributable Debt in respect of such Sale and Leaseback Transaction, or (c) the Company shall apply an amount equal to such Attributable Debt, within 180 days after the effective date of such Sale and Leaseback Transaction, to the prepayment or retirement of Securities or other indebtedness for borrowed money which was recorded as Funded Debt as of the date of its creation and which, in the case of such indebtedness of the Company, is not subordinate and junior in right of payment to the prior payment of the Securities or the prepayment or retirement of any mortgage, lien or other security interest in such Principal Property existing prior to such Sale and Leaseback Transaction; provided, however, that the amount to be so applied to the retirement of such indebtedness shall be reduced by (i) the aggregate principal amount of any Securities delivered within 180 days of the effective date of any such Sale and Leaseback Transaction to the Trustee for retirement and cancellation, and (ii) the aggregate principal amount of such indebtedness (other than the Securities) retired by the Company or a Subsidiary within 180 days of the effective date of any such Sale and Leaseback Transaction.

Restrictions on Sale and Leaseback Transactions. The Company shall not, and will not cause, suffer or permit any Subsidiary to, enter into any Sale and Leaseback Transaction of any Principal Property unless at the effective time of such Sale and Leaseback Transaction (a) the Company or such Subsidiary would be entitled, without equally and ratably securing the Securities, to incur Secured Debt secured by a mortgage or security interest on the Principal Property to be leased pursuant to Section 10.09 above, or (b) the Company or such Subsidiary would be entitled, without equally and ratably securing the Securities, to incur Secured Debt in an amount at least equal to the Attributable Debt in respect of such Sale and Leaseback Transaction, or (c) the Company shall apply an amount equal to such Attributable Debt, within 180 days after the effective date of such Sale and Leaseback Transaction, to the prepayment or retirement of Securities or other indebtedness for borrowed money which was recorded as Funded Debt as of the date of its creation and which, in the case of such indebtedness of the Company, is not subordinate and junior in right of payment to the prior payment of the Securities or the prepayment or retirement of any mortgage, lien or other security interest in such Principal Property existing prior to such Sale and Leaseback Transaction; provided, however, that the amount to be so applied to the retirement of such indebtedness shall be reduced by (i) the aggregate principal amount of any Securities delivered within 180 days of the effective date of any such Sale and Leaseback Transaction to the Trustee for retirement and cancellation, and (ii) the aggregate principal amount of such indebtedness (other than the Securities) retired by the Company or a Subsidiary within 180 days of the effective date of any such Sale and Leaseback Transaction.. SECTION 10.11

Restrictions on Sale and Leaseback Transactions. The Company shall notExcept as provided in Section 4.06, none of the Issuers shall, and will not cause, suffer or none of the Issuers shall permit any Restricted Subsidiary to, after the date hereof, enter into any Sale and Leaseback Transaction arrangement with any Person providing for the leasing by any such Issuer or Restricted Subsidiary of any Principal Property now owned or hereafter acquired which has been or is to be sold or transferred by such Issuer or Restricted Subsidiary to such Person with the intention of taking back a lease of such Principal Property (a "Sale and Leaseback Transaction"), unless the net proceeds of such sale or transfer have been determined by the Board of Directors to be at least equal to the fair market value of such Principal Property or asset at the effective time of such sale and transfer and either such Issuer or Restricted Subsidiary applies or causes to be applied an amount equal to the net proceeds of such sale or transfer, within 180 days of receipt thereof, to the retirement or prepayment (other than any mandatory retirement or prepayment, except mandatory retirements or prepayments required as a result of such Sale and Leaseback Transaction (aTransaction) of Funded Debt of any Issuer or any Restricted Subsidiary ranking senior to or pari passu with the Company Securities or to the purchase, construction or development of property or assets to be used in the ordinary course of business, or such Issuer or Restricted Subsidiary would would, on the effective date of such sale or transfer, be entitled, without equally and ratably securing the Securitiespursuant to this Indenture, to incur Secured Debt issue, assume or guarantee Indebtedness secured by a mortgage or security interest on the Lien upon such Principal Property to be leased pursuant to Section 10.09 aboveProperty, or (b) the Company or such Subsidiary would be entitled, without equally and ratably securing the Securities, to incur Secured Debt in an amount at least equal in amount to the Attributable Debt in respect of such Sale and Leaseback TransactionTransaction without equally and ratably securing the Securities. The foregoing restriction shall not apply to any Sale and Leaseback Transaction (i) between any Issuer and Restricted Subsidiary or between Restricted Subsidiaries or between Issuers, provided that the lessor shall be an Issuer or a Wholly Owned Restricted Subsidiary, (cii) the Company shall apply an amount equal to such Attributable Debtwhich has a lease of less than three years in length, (iii) entered into within 180 days after the effective date of such Sale and Leaseback Transaction, to the prepayment or retirement of Securities or other indebtedness for borrowed money which was recorded as Funded Debt as later of the date purchase, construction of its creation and which, in the case development of such indebtedness of the Company, is not subordinate and junior in right of payment to the prior payment of the Securities or the prepayment or retirement of any mortgage, lien or other security interest in such Principal Property existing prior to such Sale and Leaseback Transaction; providedor assets, however, that or the amount to be so applied to the retirement commencement of operation of such indebtedness shall be reduced by Principal Property or (iiv) involving the aggregate principal amount distribution warehouse of any Securities delivered within 180 days of the effective date of any such Sale and Leaseback Transaction to the Trustee for retirement and cancellationXxxxx Apparel Group, and (ii) the aggregate principal amount of such indebtedness (other than the Securities) retired by the Company or a Subsidiary within 180 days of the effective date of any such Sale and Leaseback TransactionInc. at South Xxxx, Xxxxxxxx.

Restrictions on Sale and Leaseback Transactions. The Company shall notUnless otherwise provided for a particular Series of Securities in a Board Resolution, a supplemental indenture or an Officers' Certificate, except as provided in Section 4.06, none of the Issuers shall, and will not cause, suffer or none of the Issuers shall permit any Restricted Subsidiary to, after the date hereof, enter into any Sale and Leaseback Transaction arrangement with any Person providing for the leasing by any such Issuer or Restricted Subsidiary of any Principal Property now owned or hereafter acquired which has been or is to be sold or transferred by such Issuer or Restricted Subsidiary to such Person with the intention of taking back a lease of such Principal Property (a "Sale and Leaseback Transaction"), unless the net proceeds of such sale or transfer have been determined by the Board of Directors to be at least equal to the fair market value of such Principal Property or asset at the effective time of such sale and transfer and either (i) such Issuer or Restricted Subsidiary applies or causes to be applied an amount equal to the net proceeds of such sale or transfer, within 180 days of receipt thereof, to the retirement or prepayment (other than any mandatory retirement or prepayment, except mandatory retirements or prepayments required as a result of such Sale and Leaseback Transaction Transaction) of Funded Debt of any Issuer or any Restricted Subsidiary ranking senior to or pari passu with the Securities or to the purchase, construction or development of property or assets to be used in the ordinary course of business, or (aii) such Issuer or Restricted Subsidiary would, on the Company effective date of such sale or such Subsidiary would transfer, be entitled, without equally and ratably securing the Securitiespursuant to this Indenture, to incur Secured Debt issue, assume or guarantee Indebtedness secured by a mortgage or security interest on the Lien upon such Principal Property to be leased pursuant to Section 10.09 aboveProperty, or (b) the Company or such Subsidiary would be entitled, without equally and ratably securing the Securities, to incur Secured Debt in an amount at least equal in amount to the Attributable Debt in respect of such Sale and Leaseback Transaction, or (c) Transaction without equally and ratably securing the Company Securities. The foregoing restriction shall not apply an amount equal to such Attributable Debt, within 180 days after the effective date of such Sale and Leaseback Transaction, to the prepayment or retirement of Securities or other indebtedness for borrowed money which was recorded as Funded Debt as of the date of its creation and which, in the case of such indebtedness of the Company, is not subordinate and junior in right of payment to the prior payment of the Securities or the prepayment or retirement of any mortgage, lien or other security interest in such Principal Property existing prior to such Sale and Leaseback Transaction; provided, however, that the amount to be so applied to the retirement of such indebtedness shall be reduced by (i) the aggregate principal amount of any Securities delivered within 180 days of the effective date of any such Sale and Leaseback Transaction to (i) between any Issuer and Restricted Subsidiary or between Restricted Subsidiaries or Issuers, provided that the Trustee for retirement and cancellationlessor shall be an Issuer or a Wholly Owned Restricted Subsidiary, and (ii) the aggregate principal amount which has a lease of such indebtedness (other less than the Securities) retired by the Company or a Subsidiary within 180 days of the effective date of any such Sale and Leaseback Transaction.three years in length,

Restrictions on Sale and Leaseback Transactions. The Company shall notExcept as provided in Section 4.06, none of the Issuers shall, and will not cause, suffer or none of the Issuers shall permit any Restricted Subsidiary to, after the date hereof, enter into any Sale and Leaseback Transaction arrangement with any Person providing for the leasing by any such Issuer or Restricted Subsidiary of any Principal Property now owned or hereafter acquired which has been or is to be sold or transferred by such Issuer or Restricted Subsidiary to such Person with the intention of taking back a lease of such Principal Property (a "Sale and Leaseback Transaction"), unless the net proceeds of such sale or transfer have been determined by the Board of Directors to be at least equal to the fair market value of such Principal Property or asset at the effective time of such sale and transfer and either (i) such Issuer or Restricted Subsidiary applies or causes to be applied an amount equal to the net proceeds of such sale or transfer, within 180 days of receipt thereof, to the retirement or prepayment (other than any mandatory retirement or prepayment, except mandatory retirements or prepayments required as a result of such Sale and Leaseback Transaction Transaction) of Funded Debt of any Issuer or any Restricted Subsidiary ranking senior to or pari passu with the Securities or to the purchase, construction or development of property or assets to be used in the ordinary course of business, or (aii) such Issuer or Restricted Subsidiary would, on the Company effective date of such sale or such Subsidiary would transfer, be entitled, without equally and ratably securing the Securitiespursuant to this Indenture, to incur Secured Debt issue, assume or guarantee Indebtedness secured by a mortgage or security interest on the Lien upon such Principal Property to be leased pursuant to Section 10.09 aboveProperty, or (b) the Company or such Subsidiary would be entitled, without equally and ratably securing the Securities, to incur Secured Debt in an amount at least equal in amount to the Attributable Debt in respect of such Sale and Leaseback TransactionTransaction without equally and ratably securing the Securities. The foregoing restriction shall not apply to any Sale and Leaseback Transaction (i) between any Issuer and Restricted Subsidiary or between Restricted Subsidiaries or Issuers, provided that the lessor shall be an Issuer or a Wholly Owned Restricted Subsidiary, (cii) the Company shall apply an amount equal to such Attributable Debtwhich has a lease of less than three years in length, (iii) entered into within 180 days after the effective date of such Sale and Leaseback Transaction, to the prepayment or retirement of Securities or other indebtedness for borrowed money which was recorded as Funded Debt as later of the date purchase, construction of its creation and which, in the case development of such indebtedness of the Company, is not subordinate and junior in right of payment to the prior payment of the Securities or the prepayment or retirement of any mortgage, lien or other security interest in such Principal Property existing prior to such Sale and Leaseback Transaction; providedor assets, however, that or the amount to be so applied to the retirement commencement of operation of such indebtedness shall be reduced by Principal Property or (iiv) involving the aggregate principal amount distribution warehouse of any Securities delivered within 180 days of the effective date of any such Sale and Leaseback Transaction to the Trustee for retirement and cancellationXxxxx Apparel Group, and (ii) the aggregate principal amount of such indebtedness (other than the Securities) retired by the Company or a Subsidiary within 180 days of the effective date of any such Sale and Leaseback TransactionInc. at South Xxxx, Xxxxxxxx.