Common use of Sale and Leaseback Clause in Contracts

Sale and Leaseback. The Borrower shall not, nor shall it permit any of its Subsidiaries to, sell or transfer to a Person any Property, whether now owned or hereafter acquired, if at the time or thereafter the Borrower or a Subsidiary shall lease as lessee such Property or any part thereof or other Property which the Borrower or a Subsidiary intends to use for substantially the same purpose as the Property sold or transferred.

Appears in 20 contracts

Samples: Credit Agreement (Isramco Inc), Loan Agreement (Resaca Exploitation, Inc.), Loan Agreement (Resaca Exploitation, Inc.)

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Sale and Leaseback. The Borrower shall not, nor and shall it not permit any of its Subsidiaries Subsidiary to, enter into any arrangement, directly or indirectly, with any Person whereby it shall sell or transfer to a Person any Property, whether now owned or hereafter acquired, if at the time and thereafter rent or thereafter the Borrower or a Subsidiary shall lease as lessee such Property or any part thereof or other Property which the Borrower or a Subsidiary it intends to use for substantially the same purpose or purposes as the Property being sold or transferred.

Appears in 13 contracts

Samples: Senior Secured Credit Agreement (Vista Proppants & Logistics Inc.), Senior Secured Credit Agreement (Vista Proppants & Logistics Inc.), Revolving Credit Agreement (Southcross Energy Partners, L.P.)

Sale and Leaseback. The Borrower shall will not, nor shall it and will not permit any of ------------------ its Subsidiaries to, enter into any arrangement, directly or indirectly, whereby the Borrower or any Subsidiary of the Borrower shall sell or transfer to a Person any Property, whether now property owned or hereafter acquired, if at the time by it in order then or thereafter to lease such property or lease other property that the Borrower or a any Subsidiary shall lease as lessee such Property or any part thereof or other Property which of the Borrower or a Subsidiary intends to use for substantially the same purpose as the Property property being sold or transferred.

Appears in 8 contracts

Samples: Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit Agreement (Fairfield Communities Inc), Loan Agreement (Finova Group Inc)

Sale and Leaseback. The Borrower shall will not, nor shall it and will not permit any ------------------ of its Subsidiaries to, enter into any arrangement, directly or indirectly, whereby the Borrower or any Subsidiary of the Borrower shall sell or transfer to a Person any Property, whether now property owned or hereafter acquired, if at the time by it in order then or thereafter to lease such property or lease other property that the Borrower or a any Subsidiary shall lease as lessee such Property or any part thereof or other Property which of the Borrower or a Subsidiary intends to use for substantially the same purpose as the Property property being sold or transferred.

Appears in 4 contracts

Samples: Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit Agreement (New England Business Service Inc)

Sale and Leaseback. The Borrower shall not, nor shall it permit any of its Subsidiaries to, sell or transfer to a Person any PropertyProperty (other than with respect to Property that is permitted to be sold or transferred pursuant to Section 6.04), whether now owned or hereafter acquired, if at the time or thereafter the Borrower or a Subsidiary shall lease as lessee such Property or any part thereof or other Property which the Borrower or a Subsidiary intends to use for substantially the same purpose as the Property sold or transferred.

Appears in 4 contracts

Samples: Credit Agreement (Abraxas Energy Partners LP), Subordinated Credit Agreement (Abraxas Energy Partners LP), Subordinated Credit Agreement (Abraxas Petroleum Corp)

Sale and Leaseback. The No Borrower shall notshall, nor shall it any Borrower permit any of its Subsidiaries to, sell or transfer to a Person any Property, whether now owned or hereafter acquired, if at the time or thereafter the a Borrower or a Subsidiary of a Borrower shall lease as lessee such Property or any part thereof or other Property which the a Borrower or a Subsidiary of a Borrower intends to use for substantially the same purpose as the Property sold or transferred.

Appears in 4 contracts

Samples: Credit Agreement (Contango Oil & Gas Co), Credit Agreement (Mariner Energy Resources, Inc.), Credit Agreement (Mariner Energy Inc)

Sale and Leaseback. The No Borrower shall, and no Borrower shall not, nor shall it permit any of its Subsidiaries to, sell or transfer to a Person any Property, whether now owned or hereafter acquired, if at the time or thereafter the such Borrower or a any Subsidiary shall lease as lessee such Property or any part thereof or other Property which the that such Borrower or a Subsidiary intends to use for substantially the same purpose as the Property sold or transferred.

Appears in 3 contracts

Samples: Senior First Lien Secured Credit Agreement (Cross Border Resources, Inc.), Senior First Lien Secured Credit Agreement (Cross Border Resources, Inc.), Senior First Lien Secured Credit Agreement (Red Mountain Resources, Inc.)

Sale and Leaseback. The Neither the Borrower shall not, nor shall it permit any of its Subsidiaries toshall enter into any arrangement, directly or indirectly, whereby it shall sell or transfer any property owned by it in order to a Person any Property, whether now owned lease such property or hereafter acquired, if at the time or thereafter lease other property that the Borrower or a Subsidiary shall lease as lessee any such Property or any part thereof or other Property which the Borrower or a Subsidiary intends to use for substantially the same purpose as the Property property being sold or transferred.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Biosphere Medical Inc), Revolving Credit Agreement (Sepracor Inc /De/), Revolving Credit Agreement (Sepracor Inc /De/)

Sale and Leaseback. The Borrower shall not, nor shall it permit any of its Subsidiaries or the Joint Venture to, sell or transfer to a Person any Property, whether now owned or hereafter acquired, if at the time or thereafter the Borrower or a Subsidiary shall lease as lessee such Property or any part thereof or other Property which the Borrower or a Subsidiary intends to use for substantially the same purpose as the Property sold or transferred.

Appears in 3 contracts

Samples: Borrowing Base Agreement (TXO Partners, L.P.), Credit Agreement (TXO Partners, L.P.), Credit Agreement (MorningStar Partners, L.P.)

Sale and Leaseback. The Borrower shall not, nor shall it permit any of its Subsidiaries the Guarantors to, sell or transfer to a Person any Propertyproperty, whether now owned or hereafter acquired, if at the time or thereafter the Borrower or a Subsidiary Guarantor shall lease as lessee such Property property or any part thereof or other Property property which the Borrower or a Subsidiary Guarantor intends to use for substantially the same purpose as the Property property sold or transferred.

Appears in 2 contracts

Samples: Credit Agreement (RLP Gulf States LLC), Credit Agreement (Ram Energy Inc/Ok)

Sale and Leaseback. The Borrower shall not, nor shall it will not and will not permit any of its Subsidiaries to, enter into any arrangement, directly or indirectly, whereby the Borrower or any Subsidiary of the Borrower shall sell or transfer to a Person any Property, whether now property owned or hereafter acquired, if at the time by it in order then or thereafter to lease such property or lease other property that the Borrower or a Subsidiary shall lease as lessee such Property or any part thereof or other Property which the Borrower or a Subsidiary intends to use for substantially the same purpose as the Property property being sold or transferred.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Cyalume Technologies Holdings, Inc.), Subordinated Loan Agreement (Cyalume Technologies Holdings, Inc.)

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Sale and Leaseback. The Borrower shall not, nor shall it permit any of its Subsidiaries to, sell or transfer to a Person any Property, whether now owned or hereafter acquired, if at the time or thereafter the Borrower or a Subsidiary shall lease as lessee such Property or any part thereof or other Property which the Borrower or a Subsidiary intends to use for substantially the same purpose as the Property sold or transferred.hereafter

Appears in 1 contract

Samples: Credit Agreement (ReoStar Energy CORP)

Sale and Leaseback. The Borrower shall not, nor shall it permit any of its Subsidiaries the Guarantors to, sell or transfer to a Person any Property, whether now owned or hereafter acquired, if at the time or thereafter the Borrower or a Subsidiary Guarantor shall lease as lessee such Property or any part thereof or other Property which the Borrower or a Subsidiary Guarantor intends to use for substantially the same purpose as the Property sold or transferred.

Appears in 1 contract

Samples: Credit Agreement (Delta Petroleum Corp/Co)

Sale and Leaseback. The Borrower shall will not, nor shall it will the Borrower permit any of its Subsidiaries to, enter into any arrangement, directly or indirectly, whereby the Borrower or such Subsidiary shall sell or transfer to a Person any Property, whether now property owned or hereafter acquired, if at the time by it in order then or thereafter to lease such property or lease other property that the Borrower or a Subsidiary shall lease as lessee such Property or any part thereof or other Property which the Borrower or a Subsidiary intends to use for substantially the same purpose as the Property property being sold or transferred.

Appears in 1 contract

Samples: Revolving Credit Agreement (Safety Insurance Group Inc)

Sale and Leaseback. The Borrower shall not, nor shall it permit any of its Subsidiaries (other than Foreign Subsidiaries) to, sell or transfer to a Person any Property, whether now owned or hereafter acquired, if at the time or thereafter the Borrower or a such Subsidiary shall lease as lessee such Property property or any part thereof or other Property which the Borrower or a such Subsidiary intends to use for substantially the same purpose as the Property sold or transferred.

Appears in 1 contract

Samples: Credit Agreement (Atp Oil & Gas Corp)

Sale and Leaseback. The Borrower shall not, nor shall it permit any of its Subsidiaries to, sell or transfer to a Person any Property, whether now owned or hereafter acquired, if at the time or thereafter the Borrower or a Subsidiary shall lease as lessee such Property or any part thereof or other Property which that the Borrower or a Subsidiary intends to use for substantially the same purpose as the Property sold or transferred, except for the sale-and leaseback of furniture, fixtures, and equipment not to exceed $100,000.

Appears in 1 contract

Samples: Credit Agreement (Three Forks, Inc.)

Sale and Leaseback. The Holdings and the Borrower shall not, nor and shall it not permit any of its Restricted Subsidiaries to, sell or transfer to a Person any Property, whether now owned or hereafter acquired, if at the time or thereafter the Borrower or a Subsidiary such Loan Party thereof shall lease as lessee such Property or any part thereof or other Property which the Borrower such Loan Party or a Restricted Subsidiary thereof intends to use for substantially the same purpose as the Property sold or transferred.

Appears in 1 contract

Samples: Credit Agreement (Penn Virginia Corp)

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