Content Transactions Clause Samples
Content Transactions amend the Credit Agreement, as per recent Liberty precedent, such that, amongst other things:
(a) an amount (being the greater of €200,000,000 and 5% of total assets) of net proceeds are not required to be prepaid against the Facilities in mandatory prepayment; and
(b) payments (being up to the greater of €200,000,000 and 5% of total assets) in respect thereof will constitute Permitted Payments, in respect of any sale, distribution or other transaction relating to any broadcasting or distribution rights or images, audio, visual or interactive content provided that no Event of Default is continuing or would occur as a result of such transaction.
Content Transactions amend the Credit Agreement in respect of Content Transactions, as per recent Liberty precedents, such that, amongst other things:
a. an amount of the greater of £200,000,000 and 2% of Total Assets of net proceeds of each Content Transaction are not required to be prepaid against the Facilities in mandatory prepayment; and
b. payments (being up to the greater of £200,000,000 and 2% of Total Assets) in respect of the proceeds of a Content Transaction will constitute Permitted Payments.