Permitted Sale Leaseback definition

Permitted Sale Leaseback means any Sale Leaseback consummated by the Borrower or any of the Restricted Subsidiaries after the Original Closing Date, provided that any such Sale Leaseback not between (a) a Credit Party and another Credit Party or (b) a Restricted Subsidiary that is not a Credit Party to another Restricted Subsidiary that is not a Credit Party is consummated for fair value as determined at the time of consummation in good faith by (i) the Borrower or such Restricted Subsidiary and, in the case of any Sale Leaseback (or series of related Sales Leasebacks) the aggregate proceeds of which exceed $100,000,000, (ii) the board of directors of the Borrower or such Restricted Subsidiary (which such determination may take into account any retained interest or other Investment of the Borrower or such Restricted Subsidiary in connection with, and any other material economic terms of, such Sale Leaseback).
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Permitted Sale Leaseback means any Sale Leaseback consummated by the Parent or any of its Restricted Subsidiaries after the Closing Date, provided that any such Sale Leaseback not between the Borrower and any Guarantor or any Guarantor and another Guarantor is consummated for fair value as determined at the time of consummation in good faith by the Parent or such Restricted Subsidiary and, in the case of any Sale Leaseback (or series of related Sales Leasebacks) the aggregate proceeds of which exceed $25,000,000, the board of directors of the Parent or such Restricted Subsidiary (which such determination may take into account any retained interest or other Investment of the Parent or such Restricted Subsidiary in connection with, and any other material economic terms of, such Sale Leaseback).
Permitted Sale Leaseback means any Sale Leaseback consummated by CGI Borrower or any of the Restricted Subsidiaries after the Closing Date; provided that any such Sale Leaseback not between CGI Borrower and a Restricted Subsidiary or between Restricted Subsidiaries is consummated for fair value as determined at the time of consummation in good faith by (i) CGI Borrower or such Restricted Subsidiary or (ii) in the case of any Sale Leaseback (or series of related Sale Leasebacks) the aggregate proceeds of which exceed the greater of (a) $15,000,000 and (b) 30.0% of Consolidated EBITDA of CGI Borrower for the most recently ended Test Period (calculated on a Pro Forma Basis) at the time of the consummation of such Sale Leaseback, the board of directors (or analogous governing body) of CGI Borrower or such Restricted Subsidiary (which such determination may take into account any retained interest or other Investment of CGI Borrower or such Restricted Subsidiary in connection with, and any other material economic terms of, such Sale Leaseback);

Examples of Permitted Sale Leaseback in a sentence

Enter into any arrangement with any Person providing for the leasing by any Group Member of real or personal property that has been or is to be sold or transferred by such Group Member to such Person or to any other Person to whom funds have been or are to be advanced by such Person on the security of such property or rental obligations of such Group Member unless such arrangement is permitted under Section 7.2(e) and is a Permitted Sale Leaseback.

Enter into any Sale and Leaseback Transaction other than a Permitted Sale Leaseback Transaction.

Enter into any arrangement, whereby one Person shall, directly or indirectly, sell or transfer any Property to another Person (other than a Credit Party) which shall then or thereafter rent or lease as lessee such Property or any part thereof which such Person intends to use for substantially the same purpose or purposes as the Property sold or transferred on a long-term basis (a “Sale Leaseback”), other than a Permitted Sale Leaseback.

Enter into any Sale Leaseback Transactions other than Permitted Sale Leaseback Transactions.

Except for the Permitted Sale Leaseback Transaction, Terra Industries will not, and will not permit any of its Material Subsidiaries to, enter into any sale and leaseback transaction.


More Definitions of Permitted Sale Leaseback

Permitted Sale Leaseback means any Sale Leaseback consummated by the Borrower or any Restricted Subsidiary after the Closing Date; provided that (a) no Default exists both before and after giving effect thereto, (b) any such Sale Leaseback not between (i) a Loan Party and another Loan Party or (ii) a Restricted Subsidiary that is not a Loan Party and another Restricted Subsidiary that is not a Loan Party must be, in each case, consummated for fair value as determined at the time of consummation in good faith by the Borrower or such Restricted Subsidiary, (c) all net proceeds and compensation received for each such Sale Leaseback is 100% cash, (d) 100% of the Net Cash Proceeds of such Sale Leaseback are used to prepay the Loans in accordance with the terms of Section 2.05(b) (and except as provided in Section 2.05(b)), and (e) any television stations owned by the Borrower and the Mission Borrower in the same market are sold concurrently by the Borrower and the Mission Borrower in connection with such Sale Leaseback and in accordance with the terms of this Agreement and the Mission Credit Agreement.
Permitted Sale Leaseback means any Sale Leaseback consummated by the Borrower or any of the Restricted Subsidiaries after the Closing Date with respect to one or more Centers, provided that (a) such Sale Leaseback is consummated for fair value as determined at the time of consummation in good faith by the Board of Directors of the Borrower (which such determination may take into account any retained interest or other investment of the Borrower or such Restricted Subsidiary in connection with, and any other material economic terms of, such Sale Leaseback) and (b) to the extent such Centers are Closing Date Centers, the proceeds of such Sale Leaseback are applied to the prepayment of Term Loans as provided in Section 5.2(a)(i).
Permitted Sale Leaseback means any Sale Leaseback consummated by the Borrower or any of the Restricted Subsidiaries pursuant to Section 10.4(g).
Permitted Sale Leaseback means any Sale Leaseback consummated by the Borrower or any of the Restricted Subsidiaries after the Closing Date with respect to the Borrower’s property listed on Schedule 1.1(d).
Permitted Sale Leaseback means a transaction designed to reduce state tax liability whereby the Borrower or one of its Subsidiaries sells Property to another Person which finances the purchase price of such Property by selling notes to, or otherwise borrowing from, the Borrower or one of its Subsidiaries and leases such Property to the seller in an operating lease transaction.
Permitted Sale Leaseback means any Sale Leaseback consummated by RailAmerica or any of the Restricted Subsidiaries after the Closing Date, provided that (i) with respect to any property owned as of the Closing Date, the value of such Sale Leasebacks shall not exceed $20.0 million in the aggregate and (ii) such Sale Leaseback is consummated for fair value as determined at the time of consummation in good faith by RailAmerica and, in the case of any Sale Leaseback (or series of related Sales Leasebacks) the aggregate proceeds of which exceed $15.0 million, the board of directors of RailAmerica (which such determination may take into account any retained interest or other investment of RailAmerica or such Restricted Subsidiary in connection with, and any other material economic terms of, such Sale Leaseback).
Permitted Sale Leaseback means any Sale Leaseback consummated by a Credit Party or any of its Subsidiaries after the Closing Date, provided that any such Sale Leaseback is consummated for fair value as determined at the time of consummation in good faith by the Credit Party or such Subsidiary (which such determination may take into account any retained interest or other Investment of the Credit Party or such Subsidiary in connection with, and any other material economic terms of, such Sale Leaseback).