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1999-215
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1999-215
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Last modified
10/31/2023 2:51:18 PM
Creation date
10/31/2023 2:45:58 PM
Metadata
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
08/24/1999
Control Number
1999-215
Entity Name
Falcon Cable Media
Subject
Purchase and Contribution Agreement, Transfer of Control of Ultimate Parent
Company of Falcon Cable Media
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5111! <br />Fund to be paid by Sellers to Buyer pursuant to Section 2.6(b)(1)(B) of the Purchase Agreement <br />and (ii) ajoint instruction in writing of Buyer and FHGLP to make the payment specified in <br />clause (I) above to Buyer from the Adjustment Fund. Upon receipt of such joint instruction. <br />Escrow Agent shall promptly make such payment to Buyer. <br />(b) The Escrow Agent shall not pay any amount of the Adjustment Fund to <br />FHGLP or Buyer, except (i) in accordance with Section 2.1(a) and Sections 2.2.2.5, 2.6 and 6.8 <br />hereof, (ii) pursuant tojoint instruction in writing from Buyer and FHGLP. or (iii) pursuant to a <br />Court Order (as hereinafter defined). <br />2.2 Release of Adiustment Fund. On the date on which the Escrow Agent makes the <br />payment to Buyer pursuant To Section 2.1(a) hereof (the Tayment Date"). the Escrow Agent <br />shall pay to FHGLP by way of certified or bank check the balance then remaining of the <br />Adjustment Fund in accordance with Buyers and FHGLP'sjoint inttuction. To the extent that <br />no payment is owing by Sellers pursuant to Section 2.6%1 HB) of the Purchase .Agreement and <br />paid pursuant to Section 2.1(a) hereof, Buyer and FHGLP shall promptly. but in no evert later <br />than three (3) business days after the date the amount of Aggregate Consideration is finally <br />determined pursuant to Section 2.6(a) of the Purchase Agreement, deliver to the Escrow Agent a <br />joint instruction in writing of Buyer and FHGLP to pay the Adjustment Fund to FHGLP. Upon <br />receipt ofsuchjoint instruction, the Escrow Agent shall promptly make such pa)ment to FHGLP <br />by cenified or bank check (or as FHGLP shall have otherwise instructed the Escrow Agent) in <br />accordancewith such joint insmtetions. Prior to the times specifically provided in this Section <br />and Section 6.8, FHGLP shall have no rights to receive, pledge, borrow or otherwise obtain the <br />benefits of the money or other property constituting the Adjustment Fund. <br />2.3 Dispute. In the event of any dispute among any ofthe parties to this Agreement. <br />the Escrow Agent shall not comply with any claims or demands a9 long as such disagreements <br />may continue, and in so refusing, the Escrow Agent shall make no delivery or other disposition <br />of any property Nen held by it under this Agreement which is the subject of such dispute until it <br />has received a final judgement or final court order from a court of competent jurisdiction <br />directing disposition ofsuch property (a "Court Order"). A judgment or order under any <br />provision of this Agreement shall not be deemed to be final until the time within which an appeal <br />maybe taken therefrom has expired and no appeal has been taken, or until the entry of a <br />judgment or order from which no appeal may be taken. <br />2.4 MmInstructions. In the event that the Escrow Agent receivesjoint instructions <br />in writing from Buyer and FHGLP, such instructions may only be revoked pursuant to further <br />joint instructions in writing of Buyer and FHGLP or a Court Order. <br />2.5 Other Disbursements ofthe Ad'ustment Fund. Notwithstanding the provisions of <br />Sections 2.1 through 2.3 above and Section 2.6 below, the Escrow Agent shall disburse the <br />Adjustment Fund, or a portion thereof, in accordance with the following: <br />UCa1=WI 1/ <br />
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