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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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(2) firm FHGLP, that portion of its partnership interest in Falcon that is <br />not represented by the Contributed Internal; <br />(3) from FC Trust, its entire partnership interest in Falcon Video <br />Communications Investors, L.P.; <br />(4) from FHGL its entire partnership interest in each of Falcon Media <br />Investors Group, a California Limited Partnership, Falcon Community Investors, L.P., Falcon <br />Telecable Investors Group, a California Limited Partnership, and Falcon Investors Group, Ltd. a <br />California Limited Partnership; <br />(5) from FHGLP, all of the capital stock in Enstar and its entire <br />membership interest in Enstar Finance Company, LLC; and <br />(6) from DHN, its entire membership interest in Adlink. <br />(b) FHGLP agrees to contribute to Charter LLC, free and clear of all <br />Encumbrances, other than the pledges disclosed on Schedule 4.3 and subject to the Legal <br />Restrictions, a portion of its partnership interest in Falcon (the "Contributed Interest"). The <br />percentage of FHGLP's partnership interest in Falcon represented by the Contributed Interest shall <br />be set forth in Part I of a written notice delivered to Buyer at least two days prior to Closing <br />substantially in the form set forth in Exhibit F (the "Allocation Notice"). In exchange for such <br />contribution to Charter LLC, FHGLP shall receive Units in Chaser LLC as provided in the Charter <br />LLC Operating Agreement (the "Equity Consideration"). The Contributed Interest shall not be less <br />than 44.5% of FHGLP's partnership interest in Falcon (the "Minimum Contributed Interest") and <br />it shall not be greater than that percentage of FHGLP's partnership interest in Falcon that would <br />cause the Equity Value to equal Five Hundred Fifty Million Dollars ($550,000,000) provided <br />Wever (i) if receipt of the Equity Consideration may result in Taxes being recognized by the <br />equity owners of FHGLP, as reasonably determined by counsel to FHGLP, then FHGLP may elect <br />to contribute to Chaser LLC a portion of its partnership interest in Falcon that is less than the <br />Minimum Contributed Interest, or may elect to not contribute any portion of its partnership interest <br />in Falcon to Charter LLC, in which event FHGLP's entire partnership interest in Falcon (or the <br />portion not so contributed) shall be sold to Buyer pursuant to Section 2.1(a) hereof and otherwise <br />treated as a Purchased Interest hereunder, (it) ifprior to the Closing Buyer, Charter LLC, or Charter <br />Holdings takes an action (other than dispositions of obsolete equipment or other equipment deemed <br />W be unnecessary in the ordinary operations of Charter Holdings' business) that results in a reduction <br />in the assets ufChartar LLC or Chaser Holdings, then (in addition to the right of FHGLP and Buyer <br />to mutually agree to an appropriate adjustment to the number of units in Charter LLC received by <br />FHGLP as set forth in Exhibit D) FHGLP may elect not to contribute my portion of its partnership <br />interest in Falcon to Charter LLC, in which event FHGLP's entire partnership interest in Falcon shall <br />be sold to Buyer pursuant to Section 2.1(a) hereof and otherwise treated as a Purchased Interest <br />hereunder; and (iii) if FHGLP makes the election to receive a cash payment pursuant to Section <br />6.6(c) hereof, FHGLP's entire partnership interest in Falcon shall be sold to Buyer pursuant to <br />=1421121 aracunou <br />
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