Module deep-dive
Sale-leaseback
Permitted sale-and-leaseback transactions. $200M general basket plus an uncapped ratio test — leased assets fall outside the security package.
Capacity waterfall
General basket
$200M
Fixed dollar basket, available without ratio test.
Ratio basket
Uncapped
Pro-forma SSLR ≤ 4.25× — substantial headroom.
Total available
Effectively uncapped
$200M general basket plus the SSLR-based ratio test. Trinseo at 3.75× pro forma has substantial ratio headroom — the dollar basket is the smaller of the two legs.
Basket chain4 terms · 3 dependencies
Read left-to-right: primitives feed into the module's subject term. Click any node to jump to its definition.
Wiki precedent1 cases
Precedents drawn from the public corpus (SEC filings, court opinions, market commentary). Other tenants' uploads are never used as comparables.
Evidence3 clauses
§7.06p. 158
"The Borrower shall not, and shall not permit any Restricted Subsidiary to, enter into any Sale and Leaseback Transaction, except that the Borrower may enter into Permitted Sale-Leasebacks."
§7.06(a)p. 159
"Permitted Sale-Leasebacks shall include any such transaction in which the aggregate Fair Market Value of property sold during any fiscal year does not exceed the greater of (i) $200 million and (ii) any amount permitted under the ratio test set forth in clause (b) below."
§7.06(b)p. 160
"Subject to clause (a), Permitted Sale-Leasebacks shall further include any such transaction so long as, after giving pro forma effect thereto, the Senior Secured Leverage Ratio does not exceed 4.25 to 1.00."
Where to go next
Financials
The line items that resolve this module's capacity into dollar figures.
Scenario modeler
How this module's capacity translates into pre/post P&L on a transaction.
Redline view
Underlying clauses with defined-term chips and cross-reference peeks.
Capability map
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