Common use of Exempted Liens and Sale and Leaseback Transactions Clause in Contracts

Exempted Liens and Sale and Leaseback Transactions. Notwithstanding the restrictions described in Sections 5.6 and 5.7, the Company or any Subsidiary of the Company may create or assume any Liens or enter into any Sale and Leaseback Transactions not otherwise permitted under Section 5.7, if the sum of the following does not exceed the greater of (x) 15% of Consolidated Total Assets calculated as of the day the Liens are created or assumed or the date of the Sale and Leaseback Transaction or (y) 15% of Consolidated Total Assets calculated as of the first issue date of the Notes: (i) the outstanding Indebtedness secured by such Liens (not including any Liens permitted under Section 5.6 which amount does not include any Liens permitted under the provisions of this Section 5.8); plus (ii) all Attributable Debt in respect of such Sale and Leaseback Transaction entered into (not including any Sale and Leaseback Transactions permitted under Section 5.7 which amount does not include any Sale and Leaseback Transactions permitted under the provisions of this Section 5.8), measured, in each case, at the time such Lien is incurred or any such Sale and Leaseback Transaction is entered into by the Company or such Subsidiary of the Company.

Appears in 9 contracts

Samples: Indenture (Celgene Corp /De/), Indenture (Celgene Corp /De/), Celgene Corp /De/

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Exempted Liens and Sale and Leaseback Transactions. For the benefit of the Holders of the Notes a new Section 4.9 shall be added to the Indenture as follows: “Notwithstanding the restrictions described in under Sections 5.6 and 5.74.7 or 4.8, the Company or any Subsidiary of the Company may create or assume any Liens or enter into any Sale and Leaseback Transactions not otherwise permitted under Section 5.7as described above, if the sum of the following does not exceed the greater of (x) 1510% of Consolidated Total Assets calculated as of the day the Liens are created or assumed or the date of the Sale and Leaseback Transaction or (y) 15% of Consolidated Total Assets calculated as of the first issue date of the Notes: (i) the outstanding Indebtedness secured by such Liens (not including any Liens permitted under Section 5.6 4.7 which amount does not include any Liens permitted under the provisions of this Section 5.84.9); plus (ii) all Attributable Debt in respect of such Sale and Leaseback Transaction entered into (not including any Sale and Leaseback Transactions permitted under Section 5.7 4.8 which amount does not include any Sale and Leaseback Transactions permitted under the provisions of this Section 5.84.9), measured, in each case, at the time such Lien is incurred or any such Sale and Leaseback Transaction is entered into by the Company or such Subsidiary of the Company.

Appears in 2 contracts

Samples: Biogen Inc., Biogen Idec Inc.

Exempted Liens and Sale and Leaseback Transactions. Notwithstanding the restrictions described in Sections 5.6 and 5.7, the Company or any Subsidiary of the Company may create or assume any Liens or enter into any Sale and Leaseback Transactions not otherwise permitted under Section 5.7, if the sum of the following does not exceed the greater of (x) 15% of Consolidated Total Assets calculated as of the day the Liens are created or assumed or the date of the Sale and Leaseback Transaction or (y) 15% of Consolidated Total Assets calculated as of the first issue date of the Notes: (i) the outstanding Indebtedness secured by such Liens (not including any Liens permitted under Section 5.6 which amount does not include any Liens permitted under the provisions of this Section 5.8); plus (ii) all Attributable Debt in respect of such Sale and Leaseback Transaction entered into (not including any Sale and Leaseback Transactions permitted under Section 5.7 which amount does not include any Sale and Leaseback Transactions permitted under the provisions of this Section 5.8), measured, in each case, at the time such Lien is incurred or any such Sale and Leaseback Transaction is entered into by the Company or such Subsidiary of the Company.. Table of Contents ARTICLE VI CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

Appears in 1 contract

Samples: Indenture (Celgene Corp /De/)

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Exempted Liens and Sale and Leaseback Transactions. Solely for the benefit of the Securityholders of the Notes a new Section 4.09 shall be added to the Base Indenture as follows: “Notwithstanding the restrictions described in under Sections 5.6 and 5.74.07 or 4.08, the Company or any Subsidiary of the Company may create or assume any Liens or enter into any Sale and Leaseback Transactions not otherwise permitted under Section 5.7Sections 4.07 or 4.08, if the sum of the following does not exceed the greater of (x) 15% of Consolidated Total Assets calculated as of the day the Liens are created or assumed or the date of the Sale and Leaseback Transaction or (y) 15% of Consolidated Total Assets calculated as of the first issue date of the Notes: (i) the outstanding Indebtedness secured by such Liens (not including any Liens otherwise permitted under Section 5.6 4.07 which amount does not include any Liens permitted under the provisions of this Section 5.84.09); plus (ii) all Attributable Debt in respect of such Sale and Leaseback Transaction entered into (not including any Sale and Leaseback Transactions otherwise permitted under Section 5.7 4.08 which amount does not include any Sale and Leaseback Transactions permitted under the provisions of this Section 5.84.09), measured, in each case, at the time such Lien is incurred or any such Sale and Leaseback Transaction is entered into by the Company or such Subsidiary of the Company.

Appears in 1 contract

Samples: Supplemental Indenture (Regeneron Pharmaceuticals, Inc.)

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