Common use of Sale and Lease-Backs Clause in Contracts

Sale and Lease-Backs. Unless constituting a permitted disposition of assets under Section 7.17 hereof, the Company will not, and will not permit 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 the Company or its Subsidiaries has sold or transferred or is to sell or transfer to any other Person (other than in connection with the Transaction) or (ii) which the Company or its Subsidiaries intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by the Company or its Subsidiaries 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 within one year of each other or are with the same other Person.

Appears in 3 contracts

Samples: Credit Agreement (Morris Material Handling Inc), Assignment and Assumption Agreement (MMH Holdings Inc), Credit Agreement (MMH Holdings Inc)

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Sale and Lease-Backs. Unless constituting a permitted disposition of assets under Section 7.17 hereof, the Company 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 acquired, (i) which the Company Borrower 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 TransactionRefinancing) or (ii) which the Company Borrower or its Subsidiaries 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 the Company Borrower or its Subsidiaries 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 within with one year of each other or are with the same other Person.

Appears in 2 contracts

Samples: Securities Pledge Agreement (Carson Inc), Securities Pledge Agreement (Carson Inc)

Sale and Lease-Backs. Unless constituting a permitted disposition of assets under Section 7.17 hereof, the Company The Borrower will not, and will not permit any of its Restricted 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 acquired, (ia) which the Company Borrower or any of its Restricted Subsidiaries has sold or transferred or is to sell or transfer to any other Person (other than in connection with the Transaction) or (iib) which the Company Borrower or its Subsidiaries any such Restricted Subsidiary intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by the Company Borrower or its Subsidiaries any such Restricted 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 within one year of each other or are with the same other Person.

Appears in 2 contracts

Samples: Credit Agreement (Color Spot Nurseries Inc), Credit Agreement (Color Spot Nurseries Inc)

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Sale and Lease-Backs. Unless constituting a permitted disposition of assets under Section 7.17 7.15 hereof, the Company Borrower will not, and will not permit 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 the Company Borrower or its Subsidiaries has sold or transferred or is to sell or transfer to any other Person (other than in connection with the Transaction) or (ii) which the Company Borrower or its Subsidiaries intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by the Company Borrower or its Subsidiaries 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 within one year of each other or are with the same other Person.

Appears in 1 contract

Samples: Credit Agreement (Styling Technology Corp)

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