This excerpt taken from the YRCW 8-K filed Oct 30, 2009.
The Credit Agreement Amendment limits net cash proceeds from asset sales in fiscal year 2009 to $400 million and limits net cash proceeds from asset sales in fiscal year 2010 to $200 million, which limits do not include net cash proceeds received from certain asset sales, including (i) the sale of real estate that constitutes first lien collateral of the Funds pursuant to the Contribution Deferral Agreement and (ii) the sale and lease back transaction completed with NATMI Truck Terminals, LLC in the first half of 2009.
The Company may only consummate additional sale and leaseback transactions if (i) a majority of the Lenders approve the transactions or (ii) such transactions were approved by the Lenders in connection with the Credit Agreement Amendment. The Company expects to close approximately $50 million of approved sale leaseback transactions in the fourth quarter of 2009. The closing of these sale leaseback transactions are subject to the satisfaction of normal and customary due diligence and related conditions, including the right of each buyer to terminate its obligation in its sole discretion during the inspection period.
This excerpt taken from the YRCW 8-K filed Aug 31, 2009.
The Credit Agreement Amendment increases to $400 million the net cash proceeds the Company can receive from asset sales consummated during 2009 (other than certain specified asset sales, including the sale and leaseback transaction entered into in December 2008 between the Company and NATMI Truck Terminals, LLC).
This excerpt taken from the YRCW 8-K filed Feb 13, 2009.
Neither the Company nor any of its subsidiaries will consummate any asset sale (other than certain specified asset sales, including the NAT Transaction) unless the following conditions are satisfied: