Communications Act Compliance. Grantee certifies that it currently meets each of the following criteria as indicated below.
Communications Act Compliance. (a) Prior to the Effective Time, both parties shall use their reasonable best efforts not to permit any of the owners of capital stock which is not freely tradable or other equity interest in the parties or their subsidiaries, or other securities convertible into or exchangeable for such non-tradable stock or equity interests, to sell, mortgage, pledge, transfer or otherwise dispose of any of such non-tradable stock, equity interests or other securities to any person who is, at the Effective Time, an alien, the representative of an alien, or an entity organized under the laws of a foreign government within the meaning of Section 310(b) of the Communications Act. In addition, officers and directors of USU, as well as members of the Xxxxxxx family, may sell their holdings in USU pursuant to transactions not violative of Rule 10b5-1 under the Securities Exchange Act of 1934.
(b) From the Effective Time until two years after the Effective Time, should USU reasonably determine, in consultation with Investcorp (as defined in Section 6.13(b)(iv)), that it is advisable to file with the FCC a request for consent to exceed the benchmarks contained in Section 310(b) of the Communications Act, or that it has the right under Article III.
