Sale-Leaseback Transaction. Notwithstanding anything to the contrary in any Operative Agreement, upon not less than thirty (30) days’ prior written notice to the parties hereto, if no Event of Default has occurred and is continuing, Borrower shall have the right to sell, at any time within eighteen (18) months following the closing date of the financing of the final Eligible Aircraft, and transfer title to the Aircraft to an owner trustee for the benefit of an owner participant in a transaction in which such owner trustee assumes all of Borrower’s obligations under the Equipment Notes and the Mortgage on a non-recourse basis (with Borrower being released from such obligations, except to the extent accrued before the assumption), leases the Aircraft to Borrower, and assigns such lease to Security Agent pursuant to an amended and restated mortgage (a “Sale-Leaseback”); provided, that there shall be no more than three (3) Eligible Aircraft subject to a Sale-Leaseback at any time. In connection with such Sale-Leaseback with respect to the Aircraft, each of the parties hereto (or their successors) will execute and deliver appropriate documentation, if reasonably satisfactory in form and substance to it, permitting the owner trustee to assume Borrower’s obligations under the Equipment Notes and the Mortgage on a non-recourse basis, releasing Borrower from all obligations in respect of the Equipment Notes and Mortgage (except to the extent accrued before the assumption), and take all other actions as are reasonably necessary to permit such assumption by the owner trustee. In connection with any such Sale-Leaseback, (a) the documents, each in form and substance reasonably acceptable to Security Agent, shall include, but not be limited to, (1) a participation agreement among the parties hereto (or their successors), the owner trustee, and the owner participant, (2) a net lease agreement between Borrower and the owner trustee providing for minimum rent payments equal in timing and amounts to all required debt service payments under the Operative Agreements and for a covenant or obligation equivalent to all other financial and non-financial obligations of Borrower under the Operative Agreements, (3) an amended and restated mortgage (amending and restating the Mortgage) between Security Agent and owner trustee, (4) a purchase agreement assignment, and (5) a trust agreement between the owner trustee and the owner participant; and (b) the Equipment Notes shall be delivered to Security Agent for ca...
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Sale-Leaseback Transaction. The Borrower shall not, and shall not permit any Subsidiary to, enter into any Sale Leaseback Transaction providing for the sale of any portion of any Principal Property unless the book value (as of the end of the fiscal quarter immediately preceding the date of such Sale Leaseback Transaction) of the assets sold in connection with such Sale Leaseback Transaction, when aggregated with the book value of all assets sold in connection with all other Sale Leaseback Transactions pertaining to such Principal Property, does not exceed an amount equal to 33-1/3% of the book value of such Principal Property as of September 30, 2002. Any Sale Leaseback Transaction permitted pursuant to the preceding sentence shall be treated as a Disposition for purposes of Section 7.01(b)(v). The Borrower and its Subsidiaries may enter into Sale Leaseback Transactions providing for the sale of other assets and the leaseback of such assets to the Borrower or any Subsidiary, provided that, any Sale Leaseback Transaction involving such a sale shall be treated as a Disposition for purposes of Section 7.01(b)(v).
Sale-Leaseback Transaction. Trustees acknowledge that they have been advised that (“System Lessor”) is providing financial accommodations to Licensee to finance the System which has been installed at the Premises. Trustees have been advised that Licensee and System Lessor intend to enter into a lease financing transaction (the “Transaction”), pursuant to which System Lessor will purchase the System from Licensee pursuant to a Master Purchase and Sale Agreement, dated as of , 20 (the “Master Purchase and Sale Agreement”), and Licensee will lease the System from System Lessor pursuant to a Master Lease Agreement, dated as of , 20 (the “Master Lease Agreement”), with [name of System Lessor] acting as “System Lessor”, as such term is defined in the Agreement.
Sale-Leaseback Transaction. The Company shall not, and shall not permit any Restricted Subsidiary to, enter into any Sale Leaseback Transaction, except for arrangements providing for the sale of all or any portion of the Principal Properties to one or more lenders or investors if such assets so sold are leased back by the Company, CRCCLP or a Restricted Subsidiary, provided that, any Sale Leaseback Transaction involving such a sale shall be treated as a Disposition for purposes of Section 8.1(b)(iv).
Sale-Leaseback Transaction. The Agent shall have received evidence satisfactory to it that (i) the Sale/Leaseback Transaction shall have closed on the terms approved by the Agent and the Lenders, (ii) the Borrowers shall have received Net Cash Disposition Proceeds of at least $59,000,000 from the Sale/Leaseback Transaction and (iii) the Net Cash Disposition Proceeds from the Sale/Leaseback Transaction shall have been paid to the Agent for distribution to the Persons contemplated in SECTION 2.1 of this Amendment.
Sale-Leaseback Transaction. The Administrative Agent shall have received duly executed copies of the Sale Leaseback Documents and shall be reasonably satisfied with the form and substance thereof. There shall not have been any material change to the terms of the Sale Leaseback Transactions as described in the Registration Statement and the Sale Leaseback Transactions shall have been consummated pursuant to the terms of the Sale Leaseback Documents as delivered to the Administrative Agent.
Sale-Leaseback Transaction. On or before December 31, 2016, deliver evidence to Agent that the sale-leaseback transaction, substantially as reflected in the third party materials provided to Agent on or about the Seventh Amendment Effective Date, has been consummated, which such sale-leaseback shall result in net proceeds to Borrowers of an amount not less than the amount included in forecast assumptions provided to Agent (such transaction, the “Sale-Leaseback Transaction”).
Sale-Leaseback Transaction. No Obligor shall enter into any sale-leaseback transaction, unless:
Sale-Leaseback Transaction. Each of the undersigned Lenders hereby (a) -------------------------- consents to the consummation by the Company of the Sale/Leaseback Transaction, on terms and conditions acceptable to the Administrative Agent in its sole discretion, provided that the Sale/Leaseback Transaction is consummated prior to December 31, 1999, and (b) agrees that the consummation of such Sale/Leaseback Transaction shall not violate subsection 10.14 of the Credit Agreement.
