Common use of Limitations on Sale/Leaseback Transactions Clause in Contracts

Limitations on Sale/Leaseback Transactions. TLGI will not, and will not permit any of its Restricted Subsidiaries (including, without limitation, LGII) to, enter into any Sale-Leaseback Transaction with respect to any property of TLGI or any of its Restricted Subsidiaries where the aggregate amount of property subject to such Sale-Leaseback Transactions, together with the aggregate amount of Liens securing Indebtedness of TLGI and its Restricted Subsidiaries (other than Permitted Liens), exceeds 10% of TLGI's Consolidated Net Worth. Notwithstanding the foregoing, TLGI and its Restricted Subsidiaries may enter into Sale-Leaseback Transactions ("Permitted Sale-Leaseback Transactions") with respect to property acquired or constructed after the Issue Date; provided that (a) the Attributable Value of such Sale-Leaseback Transaction shall be deemed to be Indebtedness of TLGI or such Restricted Subsidiary, as the case may be, and (b) after giving pro forma effect to any such Sale-Leaseback Transaction and the foregoing clause (a), TLGI would be able to incur $1.00 of additional Indebtedness pursuant to 4.07 (assuming a market rate of interest with respect to such additional Indebtedness).

Limitations on Sale/Leaseback Transactions. TLGI The Guarantor will not, and will not permit any of its Restricted Subsidiaries (including, without limitation, LGII) to, enter into any Sale-Leaseback Transaction with respect to any property of TLGI the Guarantor or any of its Restricted Subsidiaries where the aggregate amount of property subject to such Sale-Leaseback Transactions, together with the aggregate amount of Liens securing Indebtedness of TLGI the Guarantor and its Restricted Subsidiaries (other than Permitted Liens), exceeds 10% of TLGIthe Guarantor's Consolidated Net Worth. Notwithstanding the foregoing, TLGI the Guarantor and its Restricted Subsidiaries may enter into Sale-Leaseback Transactions ("Permitted SalePERMITTED SALE-Leaseback TransactionsLEASEBACK TRANSACTIONS") with respect to property acquired or constructed after the Issue DateMay 28, 1998; provided PROVIDED that (a) the Attributable Value of such Sale-Leaseback Transaction shall be deemed to be Indebtedness of TLGI the Guarantor or such Restricted Subsidiary, as the case may be, and (b) after giving pro forma PRO FORMA effect to any such Sale-Leaseback Transaction and the foregoing clause (a), TLGI the Guarantor would be able to incur $1.00 of additional Indebtedness pursuant to 4.07 (assuming a market rate of interest with respect to such additional Indebtedness).

Limitations on Sale/Leaseback Transactions. TLGI will not, and will not permit any of its Restricted Subsidiaries (including, without limitation, LGII) to, enter into any Sale-Leaseback Transaction with respect to any property of TLGI or any of its Restricted Subsidiaries where the aggregate amount of property subject to such Sale-Leaseback Transactions, together with the aggregate amount of Liens securing Indebtedness of TLGI and its Restricted Subsidiaries (other than Permitted Liens), exceeds 10% of TLGI's Consolidated Net Worth. Notwithstanding the foregoing, TLGI and its Restricted Subsidiaries may enter into Sale-Leaseback Transactions ("Permitted SalePERMITTED SALE-Leaseback TransactionsLEASEBACK TRANSACTIONS") with respect to property acquired or constructed after the Issue Date; provided PROVIDED that (a) the Attributable Value of such Sale-Leaseback Transaction shall be deemed to be Indebtedness of TLGI or such Restricted Subsidiary, as the case may be, and (b) after giving pro forma PRO FORMA effect to any such Sale-Leaseback Transaction and the foregoing clause (a), TLGI would be able to incur $1.00 of additional Indebtedness pursuant to 4.07 (assuming a market rate of interest with respect to such additional Indebtedness).

Limitations on Sale/Leaseback Transactions. TLGI The Guarantor will not, and will not permit any of its Restricted Subsidiaries (including, without limitation, LGII) to, enter into any Sale-Leaseback Transaction with respect to any property of TLGI the Guarantor or any of its Restricted Subsidiaries where the aggregate amount of property subject to such Sale-Leaseback Transactions, together with the aggregate amount of Liens securing Indebtedness of TLGI the Guarantor and its Restricted Subsidiaries (other than Permitted Liens), exceeds 10% of TLGIthe Guarantor's Consolidated Net Worth. Notwithstanding the foregoing, TLGI the Guarantor and its Restricted Subsidiaries may enter into Sale-Leaseback Transactions ("Permitted Sale-Leaseback Transactions") with respect to property acquired or constructed after the [Issue Date]; provided PROVIDED that (a) the Attributable Value of such Sale-Leaseback Transaction shall be deemed to be Indebtedness of TLGI the Guarantor or such Restricted Subsidiary, as the case may be, and (b) after giving pro forma PRO FORMA effect to any such Sale-Leaseback Transaction and the foregoing clause (a), TLGI the Guarantor would be able to incur $1.00 of additional Indebtedness pursuant to 4.07 (assuming a market rate of interest with respect to such additional Indebtedness).

Limitations on Sale/Leaseback Transactions. TLGI The Guarantor will not, and will not permit any of its Restricted Subsidiaries (including, without limitation, LGII) to, enter into any Sale-Leaseback Transaction with respect to any property of TLGI Xxxxxx or any of its Restricted Subsidiaries where the aggregate amount of property subject to such Sale-Sale- Leaseback Transactions, together with the aggregate amount of Liens securing Indebtedness of TLGI Xxxxxx and its Restricted Subsidiaries (other than Permitted Liens), exceeds 10% of TLGI's Xxxxxx'x Consolidated Net Worth. Notwithstanding the foregoing, TLGI Xxxxxx and its Restricted Subsidiaries may enter into Sale-Leaseback Transactions ("Permitted Sale-Leaseback Transactions") with respect to property acquired or constructed after the Issue Date; provided PROVIDED that (a) the Attributable Value of such Sale-Leaseback Transaction shall be deemed to be Indebtedness of TLGI Xxxxxx or such Restricted Subsidiary, as the case may be, and (b) after giving pro forma PRO FORMA effect to any such Sale-Leaseback Transaction and the foregoing clause (a), TLGI Xxxxxx would be able to incur $1.00 of additional Indebtedness pursuant to 4.07 (assuming a market rate of interest with respect to such additional Indebtedness).