Common use of Restrictions on Sales and Leasebacks Clause in Contracts

Restrictions on Sales and Leasebacks. The Company will not itself, and will not permit any Restricted Subsidiary to, enter into any transaction after the first date on which a Security is authenticated by the Trustee under this Indenture with any bank, insurance company, lender or other investor, or to which any such bank, insurance company, lender or investor is a party, providing for the leasing by the Company or a Restricted Subsidiary of any Principal Property which has been or is to be sold or transferred by the Company or such Restricted Subsidiary to such bank, insurance company, lender or investor, or to any Person to whom funds have been or are to be advanced by such bank, insurance company, lender or investor on the security of such Principal Property (herein referred to as a "sale and leaseback transaction") unless, after giving effect thereto, the aggregate amount of all Attributable Debt with respect to such transactions plus all Debt to which Section 1008 is applicable would not exceed 10% of Consolidated Net Tangible Assets. This covenant shall not apply to, and there shall be excluded from Attributable Debt in any computation under this Section 1009, Attributable Debt with respect to any sale and leaseback transaction if:

Appears in 2 contracts

Samples: Indenture (Richfood Holdings Inc), Richfood Holdings Inc

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Restrictions on Sales and Leasebacks. The Company will not itself, and will not permit any Restricted Subsidiary to, enter into any transaction after the first date on which a Security is authenticated by the Trustee under this Indenture with any bank, insurance company, lender or other investor, or to which any such bank, insurance company, lender or investor is a party, Person providing for the leasing by the Company or a Restricted Subsidiary of any Principal Property which has been or is to be sold or transferred by the Company or such Restricted Subsidiary to such bank, insurance company, lender or investor, or to any Person to whom funds have been or are to be advanced by such bank, insurance company, lender or investor on the security of such Principal Property (herein referred to as a "sale and leaseback transaction") unless, after giving effect thereto, the aggregate amount of (A) all Attributable Debt with respect to such transactions plus transactions, (B) all Debt to which Section 1008 1006 is applicable (other than amounts that are excluded from the calculation of Debt pursuant to subsections 1006(1) through and including 1006(7)) and (C) the aggregate preferential amount of the Preferred Stock of Restricted Subsidiaries not excluded by Section 1006, would not exceed 10% of Consolidated Net Tangible Assets. This covenant shall not apply to, and there shall be excluded from Attributable Debt in any computation under this Section 10091007, Attributable Debt with respect to any sale and leaseback transaction if:

Appears in 1 contract

Samples: Chesapeake Corp /Va/

Restrictions on Sales and Leasebacks. The After the date hereof, the Company will not itself, and will not permit any Restricted Subsidiary to, enter into any transaction after the first date on which a Security is authenticated by the Trustee under this Indenture with any bank, insurance company, company or other lender or other investor, or to which any such bank, insurance company, lender or investor is a party, providing for the leasing by the Company or a Restricted Subsidiary of any Principal Property which has been or is to be sold or transferred by the Company or such any Restricted Subsidiary to such bank, insurance company, lender or investor, or to any Person person to whom funds have been or are to be advanced by such bank, insurance company, lender or investor on the security of such Principal Property (herein referred to as a "sale and leaseback transaction") unless, after giving effect thereto, the aggregate amount of all Attributable Debt with respect to such sale and leaseback transactions plus all Debt secured by Mortgages to which Section 1008 10.5 is applicable would not exceed 10% 10 percent of Consolidated Net Tangible Assets. This covenant , provided, however, that this Section 10.6 shall not apply to, and there shall be excluded from Attributable Debt in any computation under this Section 100910.6 or Section 10.5, Attributable Debt with respect to any sale and leaseback transaction if:

Appears in 1 contract

Samples: Willamette Industries Inc

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Restrictions on Sales and Leasebacks. The After the date hereof, the Company will not itself, and will not permit any Restricted Subsidiary to, enter into any transaction after the first date on which a Security is authenticated by the Trustee under this Indenture with any bank, insurance company, company or other lender or other investor, or to which any such bank, insurance company, lender or investor, or to which any such bank, company, lender or investor is a party, providing for the leasing by the Company or a Restricted Subsidiary of any Principal Property which has been or is to be sold or transferred by the Company or such any Restricted Subsidiary to such bank, insurance company, lender or investor, or to any Person person to whom funds have been or are to be advanced by such bank, insurance company, lender or investor on the security of such Principal Property (herein referred to as a "sale and leaseback transaction") unless, after giving effect thereto, the aggregate amount of all Attributable Debt with respect to such sale and leaseback transactions plus all Debt secured by Mortgages to which Section 1008 1005 is applicable would not exceed 105% of Consolidated Net Tangible Assets. This covenant , provided, however, that this Section 1006 shall not apply to, and there shall be excluded from Attributable Debt in any computation under this Section 10091006 or Section 1005, Attributable Debt with respect to any sale and leaseback transaction if:

Appears in 1 contract

Samples: Indenture (Weyerhaeuser Co)

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