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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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Authority were the Adjustment Time herewrder) multiplied by (B) $3,516, and the target number <br />of 979,700 Closing Equivalent Subscribers referred to in Section 2.4(s) shall be reduced by the <br />number of Closing Equivalent Subscribers referred to in clause (A) above; (2) upon consummation <br />of such purchase by the Franchising Authority prior to the date the Aggregate Consideration is <br />finally determined pursuant to Section 2.6(a), Buyer shall promptly remit (or cause the Falcon <br />Companies to remit) to Sellers the aggregate amount of sale proceeds received by Buyer or the <br />Falcon Companies; and (3) if the Aggregate Consideration is finally detennined pursuant to Section <br />2.6(a) prior to the consummation of such purchase by the Franchising Authority, Buyer shall pay <br />to the Sellers in cash the amount by which the Aggregate Consideration was reduced pursuant to <br />clause (1) above within three business days after the date on which the amount of the Aggregate <br />Consideration is finally determined. <br />2.5 Payments at Closing. <br />(a) No later than ten (10) days prior to the date scheduled for the Closing, Falcon <br />shall prepare and deliver to Buyer a written report (the "Preliminary Closing Statement") setting <br />forth Falcon's estimates of Closing Net Liabilities, Closing Equivalent Subscribers, and the <br />Aggregate Consideration, determined in accordance with Section 2.4. The Preliminary Closing <br />Statement shall be prepared by Falcon in good faith and shall be certified by Falcon to be its good <br />faith estimate of the Closing Net Liabilities, Closing Equivalent Subscribers and the Aggregate <br />Consideration as of the date thereof. Falcon shall make available to Buyer such information as <br />Buyer shall reasonably request relating to the matters ret forth in the Preliminary Closing Statement. <br />If Buyer does not agree with the Closing Net Liabilities, Closing Equivalent Subscribers or <br />Aggregate Consideration set forth in the Preliminary Closing Statement, then on or prior to the third <br />(3rd) day prior to the date scheduled for the Closing, Buyer may deliver to Falcon a written report <br />(the "Preliminary Dispute Notice") setting forth in reasonable detail Buyer's good faith estimates <br />(supported by substantial evidence) of any amount set forth in the Preliminary Closing Statement <br />with which Buyer disagrees. In the case of my such estimated amount set forth in the Preliminary <br />Dispute Notice, Falcon and Buyer shall endeavor in good faith to agree prior to the Closing on the <br />appropriate amount of such estimates to be used in calculating the Closing Payment (as defined <br />below). If Falcon and Buyer do not agree on any such amounts by the business day prior to the date <br />scheduled forthe Closing, Falcon, at its election, may either: <br />(l) Elect to postpone the Closing and retain Price Waterhouse Coopers <br />(Los Angeles, California office) (the "Referee") to make a determination as to the appropriate <br />treaunent forpurposes ofagreeing on estimates to be made at Closing of any amounts under dispute <br />and the Closing shall thereafter take place on the third business day following resolution of such <br />dispute, subject o satisfaction or waiver of all applicable conditions precedent. The Referee shall <br />endeavor to resolve the dispute as promptly as practicable and the Referee's resolution of the dispute <br />shall be final and binding on the parties for purposes of the estimates to be made at Closing; <br />provided, however, that in no event shall such resolution result in (i) amounts less than the amounts <br />therefor (in the case of liabilities) or greater than the amounts therefor (in the case of assets) set forth <br />in the Preliminary Closing Statement or (ii) amounts greater than the amounts therefor (in the case ... <br />of liabilities) or less than the amounts therefor (in the case of assets) act forth in the Preliminary <br />r <br />ocalmwrsaEamou 20 <br />r <br />
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