Common use of Sales and Leasebacks Clause in Contracts

Sales and Leasebacks. Neither the Borrower nor any Subsidiary will enter into any arrangement, directly or indirectly, with any Person whereby the Borrower or any Subsidiary shall sell or transfer any of its Property, whether now owned or hereafter acquired, and whereby the Borrower or any Subsidiary shall then or thereafter rent or lease as lessee such Property or any part thereof or other Property which the Borrower or any Subsidiary intends to use for substantially the same purpose or purposes as the Property sold or transferred.

Appears in 38 contracts

Samples: Credit Agreement (Crimson Exploration Inc.), Credit Agreement (Crimson Exploration Inc.), Credit Agreement (Contango Oil & Gas Co)

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Sales and Leasebacks. Neither the Borrower nor any Restricted Subsidiary will enter into any arrangement, directly or indirectly, with any Person whereby the Borrower or any Restricted Subsidiary shall sell or transfer any of its PropertyProperty included in the Borrowing Base, whether now owned or hereafter acquired, and whereby the Borrower or any Restricted Subsidiary shall then or thereafter rent or lease as lessee such Property or any part thereof or other Property which the Borrower or any Restricted Subsidiary intends to use for substantially the same purpose or purposes as the Property sold or transferred.

Appears in 5 contracts

Samples: Credit Agreement (McMoran Oil & Gas Co /De/), Credit Agreement (McMoran Exploration Co /De/), Credit Agreement (McMoran Exploration Co /De/)

Sales and Leasebacks. Neither the Borrower nor any Subsidiary will enter into any arrangement, directly or indirectly, with any Person whereby the Borrower or any Subsidiary shall sell or transfer any of its Property, whether now owned or hereafter acquired, and whereby the Borrower or any Subsidiary shall then or thereafter rent or lease as lessee such Property or any part thereof or other Property which the Borrower or any Subsidiary intends to use for substantially the same purpose or purposes as the Property sold or transferred.

Appears in 5 contracts

Samples: Credit Agreement (Earthstone Energy Inc), Credit Agreement (Earthstone Energy Inc), Credit Agreement (Isramco Inc)

Sales and Leasebacks. Neither the Borrower nor any Subsidiary will enter into any arrangement, directly or indirectly, with any Person whereby the Borrower or any Subsidiary shall sell or transfer any of its material Property, whether now owned or hereafter acquired, and whereby the Borrower or any Subsidiary shall then or thereafter rent or lease as lessee such Property or any part thereof or other Property which the Borrower or any Subsidiary intends to use for substantially the same purpose or purposes as the Property sold or transferred.

Appears in 2 contracts

Samples: Credit Agreement (Atp Oil & Gas Corp), Credit Agreement (Atp Oil & Gas Corp)

Sales and Leasebacks. Neither the Borrower nor any Subsidiary will enter into any arrangement, directly or indirectly, with any Person whereby the Borrower or any Subsidiary shall sell or transfer any of its Property, whether now owned or hereafter acquired, and whereby where by the Borrower or any Subsidiary shall then or thereafter rent or lease as lessee such Property or any part thereof or other Property which the Borrower or any Subsidiary intends to use for substantially the same purpose or purposes as the Property sold or transferred.

Appears in 1 contract

Samples: Credit Agreement (Brown Tom Inc /De)

Sales and Leasebacks. Neither the Borrower nor any Restricted Subsidiary will enter into any arrangement, directly or indirectly, with any Person whereby the Borrower or any Restricted Subsidiary shall sell or transfer any of its Property, whether now owned or hereafter acquired, and whereby the Borrower or any Restricted Subsidiary shall then or thereafter rent or lease as lessee such Property or any part thereof or other Property which the Borrower or any Restricted Subsidiary intends to use for substantially the same purpose or purposes as the Property sold or transferred.

Appears in 1 contract

Samples: Credit Agreement (Callon Petroleum Co)

Sales and Leasebacks. Neither the Borrower nor any Subsidiary of its Subsidiaries will enter into any arrangement, directly or indirectly, with any Person whereby the Borrower or any Subsidiary of its Subsidiaries shall sell or transfer any of its their Property, whether now owned or hereafter acquired, and whereby the Borrower or any Subsidiary of its Subsidiaries shall then or thereafter rent or lease as lessee such Property or any part thereof or other Property which the Borrower or any Subsidiary of its Subsidiaries intends to use for substantially the same purpose or purposes as the Property sold or transferred.

Appears in 1 contract

Samples: Credit Agreement (Flores & Rucks Inc /De/)

Sales and Leasebacks. Neither the Parent nor Borrower nor any Subsidiary will enter into any arrangement, directly or indirectly, with any Person whereby the Parent, Borrower or any Subsidiary shall sell or transfer any of its Propertyproperty, whether now owned or hereafter acquired, and whereby the Parent, Borrower or any Subsidiary shall then or thereafter rent or lease as lessee such Property property or any part thereof or other Property property which the Parent, Borrower or any Subsidiary intends to use for substantially the same purpose or purposes as the Property property sold or transferred.

Appears in 1 contract

Samples: Credit Agreement (Midstates Petroleum Company, Inc.)

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Sales and Leasebacks. Neither the Borrower nor any Subsidiary will enter into any arrangement, directly or indirectly, with any Person whereby the Borrower or any Subsidiary shall sell or transfer any of its Propertyproperty, whether now owned or hereafter acquired, and whereby the Borrower or any Subsidiary shall then or thereafter rent or lease lease, as lessee lessee, such Property or any part thereof or other Property which the Borrower or any Subsidiary intends to use for substantially the same purpose or purposes as the Property property sold or transferred.

Appears in 1 contract

Samples: Loan Agreement (Venus Exploration Inc)

Sales and Leasebacks. Neither the Borrower nor any Subsidiary will enter into any arrangement, directly or indirectly, with any Person whereby the Borrower or any Subsidiary shall sell or transfer any of its Property, whether now owned or hereafter acquired, and whereby the Borrower or any Subsidiary shall then or thereafter rent or lease as lessee such Property or any part thereof or other Property which the Borrower or any Subsidiary intends to use for substantially the same purpose or purposes as the Property sold or transferred.hereafter

Appears in 1 contract

Samples: Credit Agreement (Brigham Exploration Co)

Sales and Leasebacks. Neither the The Borrower nor shall not, and shall not permit any Subsidiary will subsidiary to, enter into any arrangement, directly or indirectly, with any Person whereby the Borrower or any Subsidiary shall sell or transfer any of its Property, whether now owned or hereafter acquired, and whereby the Borrower or any Subsidiary shall then or thereafter rent or lease as lessee such Property or any part thereof or other Property which the Borrower or any Subsidiary intends to use for substantially the same purpose or purposes as the Property sold or transferred.. Section 5.07

Appears in 1 contract

Samples: Convertible Loan Agreement (Tosi Lp)

Sales and Leasebacks. Neither the Borrower nor any Subsidiary will enter into any arrangement, directly or indirectly, with any Person whereby the Borrower or any Subsidiary shall sell or transfer any of its Property, whether now owned or hereafter acquired, and whereby the Borrower or any Subsidiary shall then or thereafter rent or lease lease, as lessee lessee, such Property or any part thereof or other Property which the Borrower or any Subsidiary intends to use for substantially the same purpose or purposes as the Property sold or transferred.

Appears in 1 contract

Samples: Loan Agreement (Venus Exploration Inc)

Sales and Leasebacks. Neither the The Borrower nor will not, and will not permit any Domestic Subsidiary will to, enter into any arrangementarrangements, directly or indirectly, with any Person Person, whereby the Borrower or any Subsidiary of them shall sell or transfer any of its Property, whether now owned or hereafter acquired, and whereby the Borrower or any Subsidiary of them shall then or thereafter rent or lease as lessee such Property or any part thereof or other Property which the Borrower or any Subsidiary of them intends to use for substantially the same purpose or purposes as the Property sold or transferred.

Appears in 1 contract

Samples: Credit Agreement (Trinity Learning Corp)

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