SALES-LEASEBACKS Sample Clauses

SALES-LEASEBACKS. Except with respect to Aircraft Related Equipment, no Obligor will, nor will it permit any other Obligor to, directly or indirectly, become liable after the Effective Date as lessee or as a guarantor or other surety with respect to any lease, whether an Operating Lease or a Capital Lease, of any property (whether real, personal or mixed), whether now owned or hereafter acquired, in each case which (i) an Obligor has sold or transferred or is to sell or transfer to any other Person (other than another Obligor) or (ii) an Obligor intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by such Obligor to any Person (other than another Obligor) in connection with such lease; provided that after the Effective Date the Obligors may become and remain liable as lessee, guarantor or other surety with respect to any such lease if and to the extent that (A) the annual aggregate rentals under all such leases (other than leases with respect to Aircraft Related Equipment) shall not exceed $20,000,000 and (B) the Obligors comply with any prepayment obligations under Section 2.5(d); and provided, further, that the restrictions contained in this Section 6.6 shall not apply to the transactions described on Schedule 6.6.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
SALES-LEASEBACKS. Except with respect to Aircraft Related Equipment, no Obligor will, nor will it permit any other Obligor to, directly or indirectly, become liable after the Closing Date as lessee or as a guarantor or other surety with respect to any lease, whether an Operating Lease or a Capital Lease, of any property (whether real, personal or mixed), whether now owned or hereafter acquired, in each case which (a) an Obligor has sold or transferred or is to sell or transfer to any other Person (other than another Obligor) or (b) an Obligor intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by such Obligor to any Person (other than another Obligor) in connection with such lease; provided that after the Closing Date the Obligors may become and remain liable as lessee, guarantor or other surety with respect to (i) any such lease if and to the extent that (A) the annual aggregate rentals under all such leases (other than leases with respect to Aircraft Related Equipment) shall not exceed $30,000,000 and (B) the Obligors comply with any prepayment obligations under Section 2.5(b), and (ii) in addition to those leases permitted under clause (i) above, additional leases if and to the extent that (A) the annual aggregate rentals under all such leases (other than leases with respect to Aircraft Related Equipment) shall not exceed $20,000,000, (B) the Obligors comply with any prepayment obligations under Section 2.5(b), and (C) both immediately before and after giving effect to such lease pursuant to this clause (ii), a Covenant Suspension Period is in effect; provided, that if at the time of entering into such lease, such lease was permitted under this clause (ii) based on a Covenant Suspension Period in effect at such time, the subsequent termination of such Covenant Suspension Period shall not cause a violation of this Section 6.6; and provided, further, that the restrictions contained in this Section 6.6 shall not apply to the transactions described on Schedule 6.6.
Sample 1Sample 2
SALES-LEASEBACKS. Other than with respect to the Stonebriar Financed Equipment, Borrower will not, directly or indirectly, become or remain liable as lessee or as a guarantor or other surety, with respect to any lease of any property (whether real, personal or mixed), whether now owned or hereafter acquired, which Borrower (i) has sold or transferred or is to sell or to transfer to any other Person, or (ii) intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by Borrower to any Person in connection with such lease.
Sample 1
SALES-LEASEBACKS. The Shipowner shall not enter into any agreement for both sale and leaseback of the same assets so sold unless the proceeds from such sale are at least equal to the fair market value of the property sold.
Sample 1

Related to SALES-LEASEBACKS

  • Sales and Leasebacks Enter into any arrangement with any Person providing for the leasing by any Group Member of real or personal property that has been or is to be sold or transferred by such Group Member to such Person or to any other Person to whom funds have been or are to be advanced by such Person on the security of such property or rental obligations of such Group Member.

  • Sale and Leasebacks The Borrower will not enter into --------------------- any arrangement, directly or indirectly, with any Person whereby the Borrower shall sell or transfer any of its Property, whether now owned or hereafter acquired, and whereby the Borrower shall then or thereafter rent or lease such Property or any part thereof or other Property that the Borrower intends to use for substantially the same purpose or purposes as the Property sold or transferred.

  • Sale Leasebacks No Credit Party shall engage in any sale-leaseback, synthetic lease or similar transaction involving any of its assets.

  • Sale and Leaseback The Borrower 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 any property owned by it in order then or thereafter to lease such property or lease other property that the Borrower or any Subsidiary of the Borrower intends to use for substantially the same purpose as the property being sold or transferred.

  • Sale and Leaseback Transactions The Borrower will not, and will not permit any of the 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-Leaseback Enter into any arrangement, directly or indirectly, with any Person whereby the Borrower or any Subsidiary shall sell or transfer any property (real, personal or mixed) used or useful in the Business Operations, whether now owned or hereafter acquired, and thereafter rent or lease such property.

  • Sale-Leaseback Transactions Enter into any Sale Leaseback Transaction, except in connection with transactions that would be permitted under this Section 7.

  • Sales and Lease-Backs No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, become or remain liable as lessee or as a guarantor or other surety with respect to any lease of any property (whether real, personal or mixed), whether now owned or hereafter acquired, which such Credit Party (a) has sold or transferred or is to sell or to transfer to any other Person (other than Holdings or any of its Subsidiaries), or (b) intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by such Credit Party to any Person (other than Holdings or any of its Subsidiaries) in connection with such lease.

  • Sale and Lease-Back Transactions Enter into any arrangement, directly or indirectly, with any person 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 which it intends to use for substantially the same purpose or purposes as the property being sold or transferred unless (a) the sale of such property is permitted by Section 6.05 and (b) any Capital Lease Obligations, Synthetic Lease Obligations or Liens arising in connection therewith are permitted by Sections 6.01 and 6.02, as the case may be.

  • Limitations on Sales and Leasebacks Enter into any arrangement with any Person providing for the leasing by the Borrower of real or personal property which has been or is to be sold or transferred by the Borrower to such Person or to any other Person to whom funds have been or are to be advanced by such Person on the security of such property or rental obligations of the Borrower ("Sale and Leaseback Transactions").

Time is Money Join Law Insider Premium to draft better contracts faster.