Sale Lease Back. Tenant acknowledges that Landlord may, at some time in the future, finance the Property by means of a sale and lease back transaction (“Sale Lease-Back Transaction”) in which Landlord would transfer its interest in the Project to a financing party, as buyer, and in which such buyer would lease the Project back to Landlord. Tenant agrees that, in the event of any such Sale Lease-Back Transaction, this Lease shall automatically become subordinate to the leasehold interest created by the lease between such buyer and Landlord (the “Master Lease”). In such event, this Lease shall thereafter be a sublease below the Master Lease. Notwithstanding the automatic effect of such subordination, Tenant agrees to execute any documentation reasonably required by such buying party to evidence such subordination. Notwithstanding the foregoing, any such subordination of this Lease shall be subject to the requirement that such buying entity shall have agreed, in form reasonably acceptable to Tenant, that in the event of any termination of the Master Lease because of the Default of Landlord thereunder or because of the consensual agreement of Landlord and such buying party, this Lease shall automatically become a direct lease between such buying party, as landlord, and Tenant, as tenant.
Sale Lease Back. Enter into any arrangement with any Person pursuant to which it leases from such Person real or personal property that has been or is to be sold or transferred, directly or indirectly by it to such Person;
Sale Lease Back. The Borrower shall not, and shall cause its Subsidiaries not to, enter into any arrangement, directly or indirectly, with any Person whereby it shall dispose of any property, whether now owned or hereafter acquired and thereafter rent or lease such property or other property that it intends to use for substantially the same purpose as the property being disposed of, provided, that this Section 6.13 shall not restrict the Borrower from entering into any Ownership Based Financing.
Sale Lease Back. No Company shall enter into any arrangement, directly or indirectly, with any Person whereby it shall dispose of any property, whether now owned or hereafter acquired and thereafter rent or lease such property or other property that it intends to use for substantially the same purpose as the property being disposed of.
Sale Lease Back. Subject to Section 6.4(n), no Company shall enter into any Sale and Leaseback Transaction, except for any such Sale and Leaseback Transaction that is made for cash consideration in an amount not less than the fair market value (as reasonably determined by Borrowers) of such fixed or capital asset.
Sale Lease Back. This Lease is being made in --------------- conjunction with a sale of the Premises by Tenant, as seller, to Landlord, as purchaser (the "Sale"). The closing date of the Sale is scheduled for March 30, 2003. In the event that the actual closing date for the Sale is other than March 30, 2003, the Commencement Date and Delivery Date shall be revised to the date immediately following the closing date for the Sale, and the Expiration Date shall likewise be revised to the date which is ten (10) years from the Commencement Date. Rent shall commence on the revised Commencement Date. In the event the Sale does not take place for any reason, this Lease shall be of no force and effect and neither party shall have any rights as against the other hereunder. This lease transaction and the Sale shall not constitute a joint venture between Landlord and Tenant. Landlord and Tenant acknowledge that both the purchase price for the Sale and the Rent payable hereunder are at fair market values.
Sale Lease Back. The Borrower shall not, and shall cause its Subsidiaries not to, enter into any arrangement, directly or indirectly, with any Person whereby it shall dispose of any property, whether now owned or hereafter acquired and thereafter rent or lease such property or other property that it intends to use for substantially the same purpose as the property being disposed of, provided, that this Section 6.13 shall not restrict the Borrower from entering into any Ownership Based Financing or any transaction involving the incurrence of Liabilities on Borrowed Metals or the sale of Borrowed Metals subject to Liabilities on Borrowed Metals.
Sale Lease Back. In no event shall the acquisition of Landlord's --------------- interest in the Property by a purchaser which, simultaneously therewith, leases Landlord's entire interest in the Property back to the seller thereof be treated as an assumption by such purchaser, by operation of law or otherwise, of Landlord's obligations hereunder, but Tenant shall look solely to such seller- lessee, and its successors from time to time in title, for performance of Landlord's obligations hereunder. For all purposes, such seller-lessee, and its successors in title, shall be the Landlord hereunder unless and until Landlord's position shall have been assumed by such purchaser-lessor.
Sale Lease Back. The Sale Lease Back shall have been completed on the terms set forth in the Purchase and Sale Agreement or on such other terms as shall be reasonably acceptable to the Commitment Parties.
