PERMITTED SALELEASEBACK TRANSACTION

PERMITTED SALELEASEBACK TRANSACTION. "PERMITTED SALE/LEASEBACK TRANSACTION" shall mean a transaction to be entered into by Crawford after the Closing Date pursuant to which Crawford will sell its corporate headquarters located at 5620 Glenridge Drive, Atlanta, Georgia, and contemporaneously lease property to be used as Crawford's corporate headquarters; provided, that (i) such sale/leaseback transaction is consummated no later than September 30, 2006; (ii) Crawford receives gross cash proceeds of not... less than $8,000,000 in connection with such sale, (iii) no Default or Event of Default exists immediately prior to such sale/leaseback transaction or will result after giving effect to such sale/leaseback transaction and (iv) the terms and conditions of the lease of such property are reasonably acceptable to the Administrative Agent. View More