Common use of Sale and Lease-Backs Clause in Contracts

Sale and Lease-Backs. Holdings will not, and will not permit any of its Subsidiaries to, directly or indirectly, become or thereafter remain liable as lessee or as guarantor or other surety with respect to the lessee's obligations under any lease, whether an Operating Lease or a Capital Lease, of any property (whether real or personal or mixed) whether now owned or hereafter acquired, (i) which Holdings or any of its Subsidiaries has sold or transferred or is to sell or transfer to any other Person or (ii) which Holdings or any such Subsidiary intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by Holdings or any such Subsidiary to any Person in connection with such lease, if in the case of clause (i) or (ii) above, such sale and such lease are part of the same transaction or a series of related transactions or such sale and such lease occur with one year of each other or are with the same other Person.

Appears in 3 contracts

Samples: Credit Agreement (Ivax Corp /De), Credit Agreement (Carson Inc), Secured Term Loan Agreement (Carson Inc)

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Sale and Lease-Backs. Holdings will The Borrower shall not, and will not nor shall it cause or permit any of its Subsidiaries the Guarantors to, directly or indirectly, become or thereafter remain liable as lessee or as guarantor or other surety with respect to the lessee's obligations under any lease, whether an Operating Lease operating lease or a Capital Leasecapital lease, of any property (whether real or personal or mixed) ), whether now owned or hereafter acquired, (i) which Holdings the Borrower or any of its Subsidiaries the Guarantors has sold or transferred or is to sell or transfer to any other Person or (ii) which Holdings the Borrower or any such Subsidiary intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by Holdings the Borrower or any such Subsidiary to any Person in connection with such lease, if in the case of clause (i) or (ii) above, such sale and such lease are part of the same transaction or a series of related transactions or such sale and such lease occur with within one (1) year of each other or are with the same other Person.

Appears in 2 contracts

Samples: Loan Agreement (CSS Industries Inc), Loan Agreement (CSS Industries Inc)

Sale and Lease-Backs. Holdings The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, become or thereafter remain liable as lessee or as guarantor or other surety with respect to the lessee's obligations under any lease, whether an Operating Lease or a Capital Lease, of any property (whether real or personal or mixed) whether now owned or hereafter acquired, (ia) which Holdings the Borrower or any of its Subsidiaries has sold or transferred or is to sell or transfer to any other Person or (iib) which Holdings the Borrower or any such Subsidiary intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by Holdings the Borrower or any such Subsidiary to any Person in connection with such lease, if in the case of clause (ia) or (iib) above, such sale and such lease are part of the same transaction or a series of related transactions or such sale and such lease occur with within one year of each other or are with the same other Person.

Appears in 1 contract

Samples: Revolving Credit Agreement (Urohealth Systems Inc)

Sale and Lease-Backs. Holdings will not, and will not permit -------------------- any of its Subsidiaries to, directly or indirectly, become or thereafter remain liable as lessee or as guarantor or other surety with respect to the lessee's obligations under any lease, whether an Operating Lease or a Capital Lease, of any property (whether real or personal or mixed) whether now owned or hereafter acquired, (i) which Holdings or any of its Subsidiaries has sold or transferred or is to sell or transfer to any other Person or (ii) which Holdings or any such Subsidiary intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by Holdings or any such Subsidiary to any Person in connection with such lease, if in the case of clause (i) or (ii) above, such sale and such lease are part of the same transaction or a series of related transactions or such sale and such lease occur with one year of each other or are with the same other Person.

Appears in 1 contract

Samples: Credit Agreement (Carson Products Co)

Sale and Lease-Backs. Holdings The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, become or thereafter remain liable as lessee or as guarantor or other surety with respect to the lessee's obligations under any lease, whether an Operating Lease or a Capital Lease, of any property (whether real or personal or mixed) whether now owned or hereafter acquired, (i) which Holdings the Borrower or any of its Subsidiaries has sold or transferred or is to sell or transfer to any other Person or (ii) which Holdings the Borrower or any such Subsidiary intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by Holdings the Borrower or any such Subsidiary to any Person in connection with such lease, if in the case of clause (i) or (ii) above, such sale and such lease are part of the same transaction or a series of related transactions or such sale and such lease occur with within one year of each other or are with the same other Person.

Appears in 1 contract

Samples: Credit Agreement (Wells Aluminum Corp)

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Sale and Lease-Backs. Holdings will not, and will not permit any of its Subsidiaries to, directly or indirectly, become or thereafter remain liable as lessee or as guarantor or other surety with respect to the lessee's obligations under any lease, whether an Operating Lease or a Capital Lease, of any property (whether real or personal or mixed) whether now owned or hereafter acquired, (ia) which Holdings or any of its Subsidiaries has sold or transferred or is to sell or transfer to any other Person (other than in connection with the Recapitalization) or (iib) which Holdings or any such Subsidiary intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by Holdings or any such Subsidiary to any Person in connection with such lease, if in the case of clause (ia) or (iib) above, such sale and such lease are part of the same transaction or a series of related transactions or such sale and such lease occur with within one year of each other or are with the same other Person.

Appears in 1 contract

Samples: Credit Agreement (Color Spot Nurseries Inc)

Sale and Lease-Backs. Holdings will The Borrowers shall not, and will shall not cause or permit any of its Subsidiaries Subsidiary to, directly or indirectly, become or thereafter remain liable as lessee or as guarantor or other surety with respect to the lessee's obligations under any lease, whether an Operating Lease operating lease or a Capital Lease, of any property (whether real or personal or mixed) ), whether now owned or hereafter acquired, (i) which Holdings or any of its Subsidiaries Company has sold or transferred or is to sell or transfer to any other Person (other than any Domestic Loan Party) or (ii) which Holdings or any such Subsidiary Company intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by Holdings or any such Subsidiary Company to any Person in connection with such lease, if in the case of clause (i) or (ii) above, such sale and such lease are part of the same transaction or a series of related transactions or such sale and such lease occur with within one year of each other or are with the same other Person, except for any transaction permitted by subsection 8.2(d).

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Greif Brothers Corp)

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