Common use of Restrictions on Sales and Leasebacks Clause in Contracts

Restrictions on Sales and Leasebacks. The Borrower shall not enter into any sale and leaseback transaction involving any Principal Property, the acquisition or completion of construction and commencement of full operation of which has occurred more than 180 days prior thereto, unless (a) the Borrower could incur a lien on such property under the restrictions described in Section 5.10 hereof in an amount equal to the Attributable Debt with respect to the sale and leaseback transaction or (b) the Borrower, within 180 days after the sale or transfer by the Borrower, applies to the retirement of its Funded Debt an amount equal to the greater of (i) the net proceeds of the sale of the Principal Property sold and leased pursuant to such arrangement or (ii) the fair market value of the Principal Property so sold and leased as determined by the board of directors of the Borrower; provided that the amount to be applied to the retirement of Funded Debt of the Borrower shall be reduced by (A) the principal amount of any Term Loans prepaid within 180 days after such sale or transfer, and (B) the principal amount of Funded Debt, other than Term Loans, voluntarily retired by the Borrower within 180 days after such sale or transfer; provided further that no retirement referred to in this clause (b) may be effected by payment at maturity or pursuant to any mandatory sinking fund payment or any mandatory prepayment provision.

Restrictions on Sales and Leasebacks. The Borrower Following the occurrence of a Release Event, the Company shall not enter into any sale and leaseback transaction involving any Principal Property, the acquisition or completion of construction and commencement of full operation of which has occurred more than 180 days prior thereto, unless (a) the Borrower Company could incur a lien Lien on such property under the restrictions described in Section 5.10 4.05 [Liens] hereof in an amount equal to the Attributable Debt with respect to the sale and leaseback transaction without equally and ratably securing the Notes or (b) the BorrowerCompany, within 180 days after the sale or transfer by the BorrowerCompany, applies to the retirement of its Funded Debt an amount equal to the greater of (i) the net proceeds of the sale of the Principal Property sold and leased pursuant to such arrangement or (ii) the fair market value of the Principal Property so sold and leased as determined by the board Board of directors Directors of the BorrowerCompany; provided that the amount to be applied to the retirement of Funded Debt of the Borrower Company shall be reduced by (A) the principal amount of any Term Loans prepaid Notes delivered within 180 days after such sale or transfertransfer to the Trustee for retirement and cancellation, and (B) the principal amount of Funded Debt, other than Term Loansthe Notes, voluntarily retired by the Borrower Company within 180 days after such sale or transfer; provided further provided, further, that no retirement referred to in this clause (b) may be effected by payment at maturity or pursuant to any mandatory sinking fund payment or any mandatory prepayment provision.

Restrictions on Sales and Leasebacks. The Borrower Company shall not enter into any sale and leaseback transaction involving any Principal Domestic Property, the acquisition or completion of construction and commencement of full operation of which has occurred more than 180 days prior thereto, unless (a) the Borrower Company could incur a lien mortgage on such property under the restrictions described in Section 5.10 5.1 hereof in an amount equal to the Attributable Debt with respect to the sale and leaseback transaction without equally and ratably securing the Series A Senior Notes or (b) the BorrowerCompany, within 180 days after the sale or transfer by the BorrowerCompany, applies to the retirement of its Funded Debt an amount equal to the greater of (i) the net proceeds of the sale of the Principal Domestic Property sold and leased pursuant to such arrangement or (ii) the fair market value of the Principal Domestic Property so sold and leased as determined by the board of directors of the BorrowerCompany; provided that the amount to be applied to the retirement of Funded Debt of the Borrower Company shall be reduced by (A) the principal amount of any Term Loans prepaid Series A Senior Notes delivered within 180 days after such sale or transfertransfer to the Trustee for retirement and cancellation, and (B) the principal amount of Funded Debt, other than Term LoansSeries A Senior Notes, voluntarily retired by the Borrower Company within 180 days after such sale or transfer; provided further that no retirement referred to in this clause (b) may be effected by payment at maturity or pursuant to any mandatory sinking fund payment or any mandatory prepayment provision.

Restrictions on Sales and Leasebacks. The Borrower Company shall not enter into any sale and leaseback transaction involving any Principal Property, the acquisition or completion of construction and commencement of full operation of which has occurred more than 180 days prior thereto, unless (a) the Borrower Company could incur a lien on such property under the restrictions described in Section 5.10 4.1 hereof in an amount equal to the Attributable Debt with respect to the sale and leaseback transaction without equally and ratably securing the ROARS or (b) the BorrowerCompany, within 180 days after the sale or transfer by the BorrowerCompany, applies to the retirement of its Funded Debt an amount equal to the greater of (i) the net proceeds of the sale of the Principal Property sold and leased pursuant to such arrangement or (ii) the fair market value of the Principal Property so sold and leased as determined by the board of directors of the BorrowerCompany; provided that the amount to be applied to the retirement of Funded Debt of the Borrower Company shall be reduced by (A) the principal amount of any Term Loans prepaid ROARS delivered within 180 days after such sale or transfertransfer to the Trustee for retirement and cancellation, and (B) the principal amount of Funded Debt, other than Term LoansROARS, voluntarily retired by the Borrower Company within 180 days after such sale or transfer; provided further that no retirement referred to in this clause (b) may be effected by payment at maturity or pursuant to any mandatory sinking fund payment or any mandatory prepayment provision.

Restrictions on Sales and Leasebacks. The Borrower Company shall not enter into any sale and leaseback transaction involving any Principal Property, the acquisition or completion of construction and commencement of full operation of which has occurred more than 180 days prior thereto, unless (a) the Borrower Company could incur a lien on such property under the restrictions described in Section 5.10 4.1 hereof in an amount equal to the Attributable Debt with respect to the sale and leaseback transaction without equally and ratably securing the Series G Senior Notes or (b) the BorrowerCompany, within 180 days after the sale or transfer by the BorrowerCompany, applies to the retirement of its Funded Debt an amount equal to the greater of (i) the net proceeds of the sale of the Principal Property sold and leased pursuant to such arrangement or (ii) the fair market value of the Principal Property so sold and leased as determined by the board of directors of the BorrowerCompany; provided that the amount to be applied to the retirement of Funded Debt of the Borrower Company shall be reduced by (A) the principal amount of any Term Loans prepaid Series G Senior Notes delivered within 180 days after such sale or transfertransfer to the Trustee for retirement and cancellation, and (B) the principal amount of Funded Debt, other than Term LoansSeries G Senior Notes, voluntarily retired by the Borrower Company within 180 days after such sale or transfer; provided further that no retirement referred to in this clause (b) may be effected by payment at maturity or pursuant to any mandatory sinking fund payment or any mandatory prepayment provision.. Article Five ADDITIONAL EVENTS OF DEFAULT APPLICABLE TO THE Series G SENIOR NOTES