Common use of Replacement Asset Clause in Contracts

Replacement Asset. With respect to any asset sale, a property or asset ----------------- that consists of a Stopping Center or that, as determined by the board of Directors of the Borrower, as evidenced by a board resolution, is used or will be used in connection with the Stopping Center business of the Borrower or any Subsidiary Guarantor or a business reasonably related thereto.

Appears in 2 contracts

Sources: Revolving Credit and Term Loan Agreement (Petro Stopping Centers Holdings Lp), Revolving Credit and Term Loan Agreement (Petro Stopping Centers L P)