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Sale and Leaseback Transaction. No Loan Party will, nor will it permit any Subsidiary to, enter into any arrangement, directly or indirectly, whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property that it intends to use for substantially the same purpose or purposes as the property sold or transferred, except for any such sale of any fixed or capital assets by the Borrower or any Subsidiary that is made for cash consideration in an amount not less than the fair value of such fixed or capital asset and is consummated within one hundred eighty (180) days after such Borrower or such Subsidiary acquires or completes the construction of such fixed or capital asset.
Sale and Leaseback Transaction. Any arrangement with any Person other than a Tax Consolidated Subsidiary providing for the leasing (as lessee) by the Borrower of any property (except for temporary leases for a term, including any renewal thereof, of not more than three (3) years (provided that any such temporary lease may be for a term of up to five (5) years if (a) the Board of Directors reasonably finds such term to be in the best interest of the Borrower and (b) the primary purpose of the transaction of which such lease is a part is not to provide funds to or financing for the Borrower)), which property has been or is to be sold or transferred by the Borrower (i) to any subsidiary of the Borrower in contemplation of or in connection with such arrangement or (ii) to such other Person.
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Sale and Leaseback Transaction. The Borrower will not, and will not permit any of its Subsidiaries to, enter into any arrangement, directly or indirectly, whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereinafter acquired, and thereafter rent or lease such property or other property that it intends to use for substantially the same purpose or purposes as the property sold or transferred.
Sale and Leaseback Transaction. That certain Sale and Leaseback Transaction contemplated by the Purchase Agreement shall have been consummated by Societal CDMO Gainesville, LLC pursuant to that certain Master Lease Agreement.
Sale and Leaseback Transaction. The Issuer shall not, and shall not permit any Restricted Subsidiary to, after the date hereof, enter into any arrangement with any Person providing for the leasing by the Issuer or any Restricted Subsidiary of any Principal Property now owned or hereafter acquired which has been or is to be sold or transferred by the Issuer or such Restricted Subsidiary to such Person with the intention of taking back a lease of such Principal Property (a "Sale and Leaseback Transaction"), unless (i) the Issuer or such Restricted Subsidiary applies or causes to be applied an amount equal to the greater of the fair value (as determined by the Board of Directors) of such Principal Property and the net proceeds of such sale or transfer, within 120 days of receipt thereof, to the retirement or prepayment of the Securities or of Funded Debt of the Issuer or any Restricted Subsidiary ranking equal in right of payment with the Securities or to the acquisition, construction, development or improvement of properties, facilities or equipment used for operating purposes which are, or upon such acquisition, construction, development or improvement will be, a Principal Property or a part thereof, or (ii) at the time of entering into such transaction, such Principal Property could have been subjected to a mortgage-securing indebtedness in a principal amount equal to the Capitalized Lease-Back Obligation with respect to such Principal Property under Section 4.04(m) without securing the Securities pursuant to Section 4.04. The foregoing restriction shall not apply to any Sale and Leaseback Transaction (i) between the Issuer and any Restricted Subsidiary or among Restricted Subsidiaries, (ii) which has a lease of less than three years in length, or (iii) entered into within 120 days after the later of the acquisition of such Principal Property or the completion of construction and commencement of full operation of such Principal Property.
Sale and Leaseback Transaction. The Borrower will not, nor will it permit any of its Subsidiaries to, enter into any Sale and Leaseback Transaction.
Sale and Leaseback Transaction. 18 ------------------- Note: This table of contents shall not, for any purpose, be deemed to be a part of the Indenture. Page
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