Sale-Leaseback Transaction. Notwithstanding anything to the contrary in any Operative Agreement, upon not less than thirty (30) days’ prior written notice to the parties hereto, if no Event of Default has occurred and is continuing, Borrower shall have the right to sell, at any time within eighteen (18) months following the closing date of the financing of the final Eligible Aircraft, and transfer title to the Aircraft to an owner trustee for the benefit of an owner participant in a transaction in which such owner trustee assumes all of Borrower’s obligations under the Equipment Notes and the Mortgage on a non-recourse basis (with Borrower being released from such obligations, except to the extent accrued before the assumption), leases the Aircraft to Borrower, and assigns such lease to Security Agent pursuant to an amended and restated mortgage (a “Sale-Leaseback”); provided, that there shall be no more than three (3) Eligible Aircraft subject to a Sale-Leaseback at any time. In connection with such Sale-Leaseback with respect to the Aircraft, each of the parties hereto (or their successors) will execute and deliver appropriate documentation, if reasonably satisfactory in form and substance to it, permitting the owner trustee to assume Borrower’s obligations under the Equipment Notes and the Mortgage on a non-recourse basis, releasing Borrower from all obligations in respect of the Equipment Notes and Mortgage (except to the extent accrued before the assumption), and take all other actions as are reasonably necessary to permit such assumption by the owner trustee. In connection with any such Sale-Leaseback, (a) the documents, each in form and substance reasonably acceptable to Security Agent, shall include, but not be limited to, (1) a participation agreement among the parties hereto (or their successors), the owner trustee, and the owner participant, (2) a net lease agreement between Borrower and the owner trustee providing for minimum rent payments equal in timing and amounts to all required debt service payments under the Operative Agreements and for a covenant or obligation equivalent to all other financial and non-financial obligations of Borrower under the Operative Agreements, (3) an amended and restated mortgage (amending and restating the Mortgage) between Security Agent and owner trustee, (4) a purchase agreement assignment, and (5) a trust agreement between the owner trustee and the owner participant; and (b) the Equipment Notes shall be delivered to Security Agent for ca...
Sale-Leaseback Transaction. 6 Securities............................................... 6
Sale-Leaseback Transaction. The Borrower shall not, and shall not permit any Subsidiary to, enter into any Sale Leaseback Transaction providing for the sale of any portion of any Principal Property unless the book value (as of the end of the fiscal quarter immediately preceding the date of such Sale Leaseback Transaction) of the assets sold in connection with such Sale Leaseback Transaction, when aggregated with the book value of all assets sold in connection with all other Sale Leaseback Transactions pertaining to such Principal Property, does not exceed an amount equal to 33-1/3% of the book value of such Principal Property as of September 30, 2002. Any Sale Leaseback Transaction permitted pursuant to the preceding sentence shall be treated as a Disposition for purposes of Section 7.01(b)(v). The Borrower and its Subsidiaries may enter into Sale Leaseback Transactions providing for the sale of other assets and the leaseback of such assets to the Borrower or any Subsidiary, provided that, any Sale Leaseback Transaction involving such a sale shall be treated as a Disposition for purposes of Section 7.01(b)(v).
Sale-Leaseback Transaction. The Agent shall have received evidence satisfactory to it that (i) the Sale/Leaseback Transaction shall have closed on the terms approved by the Agent and the Lenders, (ii) the Borrowers shall have received Net Cash Disposition Proceeds of at least $59,000,000 from the Sale/Leaseback Transaction and (iii) the Net Cash Disposition Proceeds from the Sale/Leaseback Transaction shall have been paid to the Agent for distribution to the Persons contemplated in SECTION 2.1 of this Amendment.
Sale-Leaseback Transaction. Trustees acknowledge that they have been advised that (“System Lessor”) is providing financial accommodations to Licensee to finance the System which has been installed at the Premises. Trustees have been advised that Licensee and System Lessor intend to enter into a lease financing transaction (the “Transaction”), pursuant to which System Lessor will purchase the System from Licensee pursuant to a Master Purchase and Sale Agreement, dated as of , 20 (the “Master Purchase and Sale Agreement”), and Licensee will lease the System from System Lessor pursuant to a Master Lease Agreement, dated as of , 20 (the “Master Lease Agreement”), with [name of System Lessor] acting as “System Lessor”, as such term is defined in the Agreement.
Sale-Leaseback Transaction. The Company shall not, and shall not permit any Restricted Subsidiary to, enter into any Sale Leaseback Transaction, except for arrangements providing for the sale of all or any portion of the Principal Properties to one or more lenders or investors if such assets so sold are leased back by the Company, CRCCLP or a Restricted Subsidiary, provided that, any Sale Leaseback Transaction involving such a sale shall be treated as a Disposition for purposes of Section 8.1(b)(iv).
Sale-Leaseback Transaction. Sale Leaseback Transaction" has the meaning set forth in ---------------------------- Exhibit X.
Sale-Leaseback Transaction. During the Forbearance Period, the Borrower shall continue to engage Xxxxxxx & Wakefield (the “Broker”) to investigate opportunities to monetize the Real Property. The Borrower agrees to provide the Agent with (a) any materials prepared by the Broker in connection with the marketing of the Real Property, (b) the list of prospects identified by the Broker, and (c) any letters of intent or offers received by the Borrower with respect to any offer to purchase the Real Property.
Sale-Leaseback Transaction. In accordance with and subject to the terms and conditions of this Agreement, the following shall occur contemporaneously at Closing: (a) Seller shall sell and convey to Buyer, and Buyer shall purchase and accept from Seller, the Property; and (b) Buyer shall lease to Seller, and Seller shall accept and take from Buyer, the “Leased Premises,” as defined in the Lease; (c) Parent Guarantor shall guarantee the Lease obligations in accordance with the terms of the Parent Guaranty; and (d) Affiliate Guarantor shall guarantee the Lease obligations in accordance with the terms of the Affiliate Guaranty.
Sale-Leaseback Transaction. So long as any Series A Notes are Outstanding, the Company will not enter into any Sale and Lease-Back Transaction with respect to any Operating Property if the commitment by the purchaser was obtained more than 18 months after the later of (i) the completion of the acquisition, construction, or development of the Operating Property or (ii) the placing in operation of the Operating Property or of the Operating Property as constructed, developed, or substantially repaired, altered, or improved, unless:
