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i <br />"Securities Act" ............................................ <br />10 <br />"Senior Debentures" ......................................... <br />10 <br />"Senior Debentures Amount" .................................. <br />10 ,.. <br />"Senior Debt" .............................................. <br />10 <br />"Senior Debt Amount" ....................................... <br />10 <br />"Senior Discount Debentures" ....................... I......... <br />10 <br />"Senior Discount Debentures Accreted Value" .................... <br />10 <br />"Subscriber.' ............................................... <br />11 <br />"Subsidiary" ............................................... <br />11 <br />"System ................................................... <br />11 <br />°Tangible Personal Property ................................... <br />11 <br />"Tax" .................................................... <br />11 <br />"Tax Return" ................. I....................... I.... <br />11 <br />"TC1 Systems" ............................................. <br />I] <br />"Transaction Documents" .................................... <br />I1 <br />"Transferable Franchise Area" ................................. <br />12 <br />"Upset Date" ..................................... .......... <br />12 <br />1.2 <br />To= Defined Elsewhere in this Agreement ...................... <br />12 <br />1.3 <br />Rules of Construction ........................................ <br />14 <br />SECTION 2 SALE AND PURCHASE OF PURCHASED INTERESTS; CONTRIBUTION <br />, <br />OF <br />CONTRIBUTED INTEREST; ASSUh1PTION OF LIABILITIES; <br />CONSIDERATION ............................................... <br />14 <br />2.1 <br />Agreement to Sell and Buy Purchased Interests and to Contribute <br />Contributed Interest ......................................... <br />14 <br />2.2 <br />Assumption of Obligations; Effect on Partnership Agreement of <br />Falcon.................................................... <br />16 .. <br />23 <br />Consideration for Purchased Interests and Contributed Interest ........ <br />17 <br />2.4 <br />Adjustments ............................................... <br />17 <br />2.5 <br />Payments at Closing ......................................... <br />20- <br />2.6 <br />Post -Closing Payment of Aggregate Consideration Adjustments...... <br />21 <br />SECTION 3: REPRESENTATIONS AND WARRANTIES OF FALCON ............... <br />23 <br />3.1 <br />Organization and Authority ................................... <br />23 <br />3.2 <br />Authorization and Binding Obligation ........................... <br />23 <br />3.3 <br />Organization and Ownership of Falcon Companies ................ <br />24 <br />3.4 <br />Absence of Confliefing Agreements; Consents .................... <br />24 <br />3.5 <br />Financial Statements ........................................ <br />25 <br />3.6 <br />Absence of Undisclosed Liabilities ............................. <br />25 — <br />3.7 <br />Absence of Certain Changes .................................. <br />26 <br />3.8 <br />Franchises, Licenses, Material Contracts ......................... <br />26 a. <br />i <br />