Common use of Sale and Leaseback Clause in Contracts

Sale and Leaseback. None of the Borrowers shall enter into any arrangements, directly or indirectly, with any person whereby it shall sell or transfer any of its property, whether real or personal, whether now owned or hereafter acquired, if it, at the time of such sale or disposition, intends to lease or otherwise acquire the right to use or possess (except by purchase) such property or like property for a substantially similar purpose.

Appears in 9 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

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Sale and Leaseback. None of the Borrowers shall enter into any arrangementsarrangement, directly or indirectly, with whereby any person whereby it Borrower shall sell or transfer any of its property, whether real property owned by it in order then or personal, whether now owned or hereafter acquired, if it, at the time of such sale or disposition, intends thereafter to lease or otherwise acquire the right to use or possess (except by purchase) such property or like lease other property which such Borrower intends to use for a substantially similar purposethe same purpose as the property being sold or transferred, without the prior written consent of the Banks.

Appears in 6 contracts

Samples: Revolving Credit Agreement (Eastern Environmental Services Inc), Revolving Credit Agreement (Superior Services Inc), Revolving Credit and Term Loan Agreement (Casella Waste Systems Inc)

Sale and Leaseback. None of the Borrowers shall will enter into any arrangementsarrangement, directly or indirectly, with whereby any person whereby it Borrower or any Subsidiary shall sell or transfer any of its property, whether real property owned by it in order then or personal, whether now owned or hereafter acquired, if it, at the time of such sale or disposition, intends thereafter to lease or otherwise acquire the right to use or possess (except by purchase) such property or like lease other property which any Borrower or any Subsidiary intends to use for a substantially similar purposethe same purpose as the property being sold or transferred.

Appears in 4 contracts

Samples: Revolving Credit Agreement (TRC Companies Inc /De/), Revolving Credit Agreement (TRC Companies Inc /De/), Revolving Credit Agreement (TRC Companies Inc /De/)

Sale and Leaseback. None of the Borrowers The Borrower shall not enter into any arrangements, directly or indirectly, with any person whereby it shall sell or transfer any of its property, whether real or personal, whether now owned or hereafter acquired, if it, at the time of such sale or disposition, intends to lease or otherwise acquire the right to use or possess (except by purchase) such property or like property for a substantially similar purpose.

Appears in 3 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Scorpio Tankers Inc.)

Sale and Leaseback. None of the Borrowers shall enter into any arrangementsarrangement, directly or indirectly, with any person whereby it shall sell or transfer any of its property, whether real or personal, whether now property owned or hereafter acquired, if it, at the time of such sale or disposition, intends by it in order to lease or otherwise acquire the right to use or possess (except by purchase) such property or like lease other property that any Borrower intends to use for a substantially similar purposethe same purpose as the property being sold or transferred.

Appears in 2 contracts

Samples: Revolving Credit Agreement (United States Leather Inc /Wi/), Pledge Agreement (United States Leather Inc /Wi/)

Sale and Leaseback. None Neither of the Borrowers shall enter into any arrangements, directly or indirectly, with any person whereby it shall sell or transfer any of its property, whether real or personal, whether now owned or hereafter acquired, if it, at the time of such sale or disposition, intends to lease or otherwise acquire the right to use or possess (except by purchase) such property or like property for a substantially similar purpose.

Appears in 2 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Quartet Holdco Ltd.)

Sale and Leaseback. None of the Borrowers shall will enter into any arrangements------------------ arrangement, directly or indirectly, with whereby any person whereby it Borrower shall sell or transfer any of its property, whether real property owned by it in order then or personal, whether now owned or hereafter acquired, if it, at the time of such sale or disposition, intends thereafter to lease or otherwise acquire the right to use or possess (except by purchase) such property or like lease other property which any Borrower intends to use for a substantially similar purposethe same purpose as the property being sold or transferred.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Agreement (United States Filter Corp)

Sale and Leaseback. None of the Borrowers No Borrower shall enter into any arrangements, directly or indirectly, with any person whereby it shall sell or transfer any of its property, whether real or personal, whether now owned or hereafter acquired, if it, at the time of such sale or disposition, intends to lease or otherwise acquire the right to use or possess (except by purchase) such property or like property for a substantially similar purpose.

Appears in 1 contract

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.)

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Sale and Leaseback. None of the Borrowers shall Neither Borrower will enter into any arrangementsarrangement, directly or indirectly, with any person other Person whereby it such Borrower shall sell or transfer any of its property, whether real or personal, personal property whether now owned or hereafter acquired, if it, at the time of such sale and then or disposition, intends to thereafter rent or lease or otherwise acquire the right to use or possess (except by purchase) as lessee such property or like any part thereof or any other property which such Borrower intends to use for a substantially similar purposethe same purpose or purposes as the property being sold or transferred.

Appears in 1 contract

Samples: Credit and Security Agreement (Larson Davis Inc)

Sale and Leaseback. None of the Borrowers shall Neither Borrower will enter into any arrangementsarrangement, directly or indirectly, with any person other Person whereby it such Borrower shall sell or transfer any of its property, whether real or personalpersonal property, whether now owned or hereafter acquired, if it, at the time of such sale and then or disposition, intends to thereafter rent or lease or otherwise acquire the right to use or possess (except by purchase) as lessee such property or like any part thereof or any other property which such Borrower intends to use for a substantially similar purposethe same purpose or purposes as the property being sold or transferred.

Appears in 1 contract

Samples: Credit and Security Agreement (Medical Dynamics Inc)

Sale and Leaseback. None of the Borrowers shall will enter into any arrangements---- --- --------- arrangement, directly or indirectly, with whereby any person whereby it Borrower shall sell or transfer any of its property, whether real property owned by it in order then or personal, whether now owned or hereafter acquired, if it, at the time of such sale or disposition, intends thereafter to lease or otherwise acquire the right to use or possess (except by purchase) such property or like lease other property which any Borrower intends to use for a substantially similar purposethe same purpose as the property being sold or transferred.

Appears in 1 contract

Samples: Credit Agreement (United States Filter Corp)

Sale and Leaseback. None of the Borrowers Neither Borrower shall enter into any arrangements, directly or indirectly, with any person whereby it shall sell or transfer any of its property, whether real or personal, whether now owned or hereafter acquired, if it, at the time of such sale or disposition, intends to lease or otherwise acquire the right to use or possess (except by purchase) such property or like property for a substantially similar purpose.

Appears in 1 contract

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.)

Sale and Leaseback. None of the Borrowers shall enter into any arrangementsarrangement, directly or indirectly, with whereby any person whereby it of the Borrowers shall sell or transfer any of its property, whether real property owned by it in order then or personal, whether now owned or hereafter acquired, if it, at the time of such sale or disposition, intends thereafter to lease or otherwise acquire the right to use or possess (except by purchase) such property or like lease other property that any of the Borrowers intend to use for a substantially similar purposethe same purpose as the property being sold or transferred.

Appears in 1 contract

Samples: Credit Agreement (WorldSpace, Inc)

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