Maximum Lease Obligations Clause Samples

Maximum Lease Obligations. Create, incur or suffer to exist, or permit any of its Subsidiaries to create, incur or suffer to exist, any obligations as lessee (i) for the payment of rent for any personal property in connection with any sale and leaseback transaction, or (ii) for the payment of rent for any personal property under leases or agreements to lease other than (A) obligations in respect of Capital Leases which would not cause the aggregate amount of all obligations under Capitalized Leases entered into after the Closing Date owing by all Credit Parties and their Subsidiaries to exceed $750,000 in any Fiscal Year, and (B) Operating Lease Obligations which would not cause the aggregate amount of all Operating Lease Obligations owing by all Holdings’ Domestic Subsidiaries and Proliance International de Mexico SA de CV and their Subsidiaries (x) in any Fiscal Year to exceed $9,000,000 and (y) during the term of this Agreement to exceed $45,000,000; provided, that if any branches are sold, the amounts set forth in this sub-clause (B) shall be reduced by the amount of the Operating Lease Obligation that corresponds to such sold branch.

Maximum Lease Obligations. Holdings’ Domestic Subsidiaries shall not create, incur or suffer to exist, or permit any of its Subsidiaries to create, incur or suffer to exist, any obligations as lessee (i) for the payment of rent for any personal property in connection with any sale and leaseback transaction, or (ii) for the payment of rent for any personal property under leases or agreements to lease other than (A) obligations in respect of Capital Leases which would not cause the aggregate amount of all obligations under Capitalized Leases entered into after the Closing Date owing by all Credit Parties and their Subsidiaries to exceed $750,000 in any Fiscal Year, and (B) Operating Lease Obligations which would not cause the aggregate amount of all Operating Lease Obligations owing by all Holdings’ Domestic Subsidiaries and their Subsidiaries (x) in any Fiscal Year to exceed $9,000,000 and (y) during the term of this Agreement to exceed $45,000,000; provided, that if any branches are sold, the amounts set forth in this sub-clause (B) shall be reduced by the amount of the Operating Lease Obligation that corresponds to such sold branch.

Maximum Lease Obligations. NRF shall not create, incur or suffer to exist, or permit any of its Subsidiaries to create, incur or suffer to exist, any obligations as lessee (i) for the payment of rent for any personal property in connection with any sale and leaseback transaction, or (ii) for the payment of rent for any personal property under leases or agreements to lease other than (A) obligations in respect of Capital Leases which would not cause the aggregate amount of all obligations under Capitalized Leases entered into after the Closing Date owing by NRF and its Subsidiaries in any Fiscal Year to exceed €100,000, and (B) Operating Lease Obligations which would not cause the aggregate amount of all Operating Lease Obligations owing by NRF and its Subsidiaries (x) in any Fiscal Year to exceed $900,000 and (y) during the term of this Agreement to exceed $4,500,000; provided, that if any branches are sold, the amounts set forth in this sub-clause (B) shall be reduced by the amount of the Operating Lease Obligation that corresponds to such sold branch. Notwithstanding anything to the contrary contained in this Section 6.7, after the date the Borrower has repaid the Tranche A Term Loan in amount equal to at least $20,000,000, (1) Sections 6.7(f) through (n) shall (A) no longer be applicable, (B) not be tested after such date of repayment and (C) be deemed to have been deleted from this Agreement and (2) after such date of repayment, all the financial covenants set forth in Sections 6.7(a) through (e) shall be tested on a quarterly basis for the four (4) quarter period then ended and Borrower and the Administrative Agent and the Required Lenders shall negotiate in good faith to determine such quarterly financial covenants based on the same criteria used for establishing the existing annual financial covenants and, in the event that the Borrower and the Administrative Agent and the Required Lenders are unable to agree upon the quarterly financial covenants and enter into an amendment to this Agreement providing for the quarterly financial covenants, in each case, on or before the date that is 30 days after the date of such repayment, the existing annual financial covenant levels for the succeeding year shall be used for each quarterly period within such succeeding year.

Maximum Lease Obligations. Holdings and its Subsidiaries on a consolidated basis shall not incur aggregate rent expenses under operating leases of more than $3,000,000 in any Fiscal Year.

Maximum Lease Obligations. Holdings and its Subsidiaries on a c