Common use of Leasebacks Clause in Contracts

Leasebacks. Each of the Borrowers will not, and Ryder will not permit any of its Consolidated Subsidiaries to, sell, transfer or otherwise convey any property of Ryder or any Consolidated Subsidiary more than one hundred twenty (120) days after the acquisition thereof for purposes of leasing back such property except: (a) leasebacks with a term of three years or less (including all permitted extensions and renewals); (b) leasebacks whereby the proceeds from the sale or transfer of property are used to reduce the Obligations or other Indebtedness of a rank at least equal to the Obligations; or (c) leasebacks permitted by §9.1 and §9.2.

Leasebacks. Each None of the Borrowers will notwill, and Ryder will not nor ▇▇▇▇ ▇▇▇▇▇ permit any of its Consolidated Subsidiaries to, sell, transfer or otherwise convey any property of Ryder or any Consolidated Subsidiary more than one hundred twenty (120) days after the acquisition thereof for purposes of leasing back such property exceptproperty, except for: (a) leasebacks with a term of three (3) years or less (including all permitted extensions and renewals); (b) leasebacks whereby the proceeds from the sale or transfer of property are used to reduce the Obligations or other Indebtedness of a rank at least equal to the Obligations; or (c) leasebacks permitted by §9.1 pursuant to Section 7.01 and §9.2Section 7.02.

Leasebacks. Each of the Borrowers will not, and Ryder will not permit any of its Consolidated Subsidiaries to, sell, transfer or otherwise convey any property of Ryder or any Consolidated Subsidiary more than one hundred twenty (120) days after the acquisition thereof for purposes of leasing back such property except: (a) leasebacks with a term of three years or less (including all permitted extensions and renewals); (b) leasebacks whereby the proceeds from the sale or transfer of property are used to reduce the Obligations or other Indebtedness of a rank at least equal to the Obligations; or (c) leasebacks permitted by §Section 9.1 and §Section 9.2.