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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
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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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r <br />(E) my other contracts or commitments entered into in the ordinary course of business that are <br />terminable on not more than sixty days prior notice without the payment of my penalty or that do <br />not involve post -Closing obligations in excess of One Hundred Fifty Thousand Dollars ($150,000) <br />per year in any one case or in excess of One Million Dollars ($1,000,000) per year in the aggregate; <br />provided that the Falcon Companies shall not enter into any employment agreements or new <br />Contracts for the acquisition or disposition of cable television systems without the prior consent of <br />Buyer or amend any existing employment agreement or Contract for the acquisition or disposition <br />of cable television systems without the prior consent of Buyer, such consent with respect to <br />amendments not to be unreasonably withheld or delayed. <br />(3) Di�posithtn of Assets. Sell, assign, lease, swap or otherwise transfer <br />or dispose of my of the Assets, except for Assets consumed or disposed of in the ordinary course <br />of business. <br />(4) Encumbrances. Create, assume or permit to exist any Encumbrance <br />upon the Assets, except for permitted Encumbrances or other Encumbrances disclosed in Schedule <br />32 and subject to the Legal Restrictions on any Equity Interests awned by the Falcon Companies. <br />(5) Indebtedness. permit the Falcon Companies to incur any additional <br />indebtedness for borrowed money, except to the extent (if not repaid at or prior to the Closing) <br />included in the computation of Closing Net Liabilities; provided that any such incurrence shall be <br />in the ordinary course of business and the Falcon Companies shall give Buyer prior notice of such <br />borrowing; <br />(6) Compensation. Increase annually recurring compensation by more <br />than 50/6, on average, for the Falcon Companies' employees retained in connection with the conduct <br />of the business or operation of the Systems, except for customary merit or time -in -grade increases <br />for qualifying employes or otherwise in accordance with the Falcon Companies employee policies. <br />(7) Waivers. Waive any material right misting to the Systems or the <br />Assets. <br />(8) MAdetng plan. Implement anv new marketing nlnnc that am <br />materially different Som marketing plans previously implemented by the Falcon Companies, except <br />as consented to by Buyer, such consent not to be unreasonably withheld. <br />(9) Affiliate Transactions. Enter into any new business arrangements or <br />business relationships that would be required to be disclosed on Schedule 3.17 or modify, revise or <br />alter any existing such arrangements or relationships if it would have an adverse economic effect <br />on the Falcon Companies or would be binding on the Falcon Companies after the Closing. <br />(b) Affirmative Covenants. Falcon shall, and shall cause the Falcon Companies <br />to, do the following between the date hereof and the Closing Date: <br />apiouusssscunou 42 <br />
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