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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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cash the Adjustment Escrow Amount, if any, to an account of accounts designated by FHGLP by <br />written notice to the Adjustment Escrow Agent. <br />(B) If the amount of the Closing Payment exceeds the amount of <br />the Aggregate Consideration as finally detemdned pursuant to Section 2.6(a), then within three <br />business days after the date on which the amount of the Aggregate Consideration is finally <br />determined pursuanrto Section 2.6(a), (i) FHGLP will direct the Adjustment Escrow Agent to pay <br />to Buyer in cash the amount of such excess to the went of the Adjustment Escrow Amount, if my, <br />and (ii) if such excess is greater than the amount paid to Buyer from the Adjustment Escrow <br />Amount, Sellers will pay to Buyer in cash the amount of such excess to the extent not paid from the <br />Adjustment Escrow Amount, by wire or accounts transfer of immediately available funds to an <br />account designated by Buyer by written notice to FHGLP. If any portion ofthe Adjustment Escrow <br />Amount, if my, remains after payment to Buyer of any amounts pursuant to the preceding sentence, <br />Buyer and FHOLP will direct the Adjustment Escrow Agent to promptly pay such amounts to <br />Sellers in accordance with the percentage interests set forth in Part VI of the Allocation Notice.. <br />(2) Any mount which becomes payable pursuant to this Section 2.6 will <br />constitute an adjustment to the Purchase Consideration for all purposes. <br />SECTION 3: REPRESENTATIONS AND WARRANTIES OF FALCON <br />Subject to any provisions of this Agreement limiting, qualifying or excluding any of the <br />representations or warranties made herein, and to the disclosures set forth in Falcon's Disclosure <br />Schedules, as such schedules are referenced herein, Falcon hereby represents and warrants to Buyer <br />as set forth in this Section 3. <br />3.1 Organization and Authority. Each of the Falcon Companies was duly formed and <br />is validly existing and in good standing under the laws of the state of its organization or formation. <br />Each of the Falcon Companies has the requisite partnership, limited liability company or corporate <br />(as the case may be) power and authority to own, lease and operate its properties, to carry on its <br />business in the places where such properties we now owned, leased or operated and in the manner <br />in which such business is now conducted, and, in the case of Falcon, to execute, deliver and perform <br />this Agreement and the other Transaction Documents to which it is a party according to their <br />respective terms. <br />3.2 Authorization and Binding Obligation. The execution, delivery and performance by <br />Falcon of this Agreement and the other Transaction Documents to which it is a party have been duly <br />authorized by all necessary partnership action on its part. This Agreement and the other Transaction <br />Documents to which Falcon is a party has been duly executed and delivered by Falcon (or in the <br />case of Transaction Documents to be executed and delivered at Closing, when executed and <br />delivered will be duly executed and delivered) and constitute (or, in the case of Transaction <br />Documents to be executed and delivered at Closing, when executed and delivered will constitute) <br />the legal, valid, and binding obligation of Falcon in accordance with their terms, except as the <br />enforceability of this Agreement and such other Transaction Documents may be limited by <br />Enforceability Exceptions. <br />eNVr3UlIa%ECUnoN 23 <br />
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