Common use of Disposition of the Pledged Collateral Clause in Contracts

Disposition of the Pledged Collateral. (i) Upon the occurrence and during the continuance of any Event of Default, the Trustee may from time to time, in accordance with the terms of and at the times, if any, specified in the Indenture and/or the Intercreditor Agreement, exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured parry on default under the UCC, and the Trustee may also in its sole discretion, without notice except as specified below, sell, assign or grant a license to use the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker's board or at any of the Trustees offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as the Trustee may deem commercially reasonable. The Trustee or any other Secured Party or any of their respective Affiliates may be the purchaser, licensee, assignee or recipient of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold, assigned or licensed at such sale, to use and apply any of the Secured Obligations owed to such Person as a credit on account of the purchase price of any Pledged Collateral payable by such Person at such sale. Each purchaser, assignee, licensee or recipient at any such sale shall acquire the property sold, assigned or licensed absolutely free from any claim or right on the part of any Pledgor, and each Pledgor hereby waives, to the fullest extent permitted by law, all rights of redemption, stay and/or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. The Trustee shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. The Trustee may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Pledgor hereby waives, to the fullest extent permitted by law, any claims against the Trustee arising by reason of the fact that the price at which any Pledged Collateral may have been sold, assigned or licensed at such a private 153 -25- sale was less than the price which might have been obtained at a public sale, even if the Trustee accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. (ii) Each Pledgor acknowledges and agrees that, to the extent notice of sale shall be required by law, ten days' notice to such Pledgor of the time and place of any public sale or of the time after which any private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to any Pledgor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition.

Disposition of the Pledged Collateral. (i) Upon the occurrence and during the continuance of any an Event of Default, the Trustee Collateral Agent may from time to time, in accordance with the terms of and at the times, if any, specified in the Indenture and/or the Intercreditor Agreementsubject to any necessary prior or subsequent FCC approval, exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured parry party on default under the UCC, and the Trustee Collateral Agent may also in its sole discretion, without notice except as specified below, sell, assign or grant a license to use sell the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker's board or at any of the Trustees Collateral Agent's offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as the Trustee Collateral Agent may deem commercially reasonable. The Trustee Collateral Agent or any other Secured Party or any of their respective Affiliates may be the purchaser, licensee, assignee or recipient purchaser of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold, assigned or licensed sold at such sale, to use and apply any of the Secured Obligations owed to such Person as a credit on account of the purchase price of any Pledged Collateral payable by such Person at such sale. Each purchaser, assignee, licensee or recipient purchaser at any such sale shall acquire the property sold, assigned or licensed sold absolutely free from any claim or right on the part of any PledgorPledgors, and each Pledgor Pledgors hereby waiveswaive, to the fullest extent permitted by law, all rights of redemption, stay and/or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. The Trustee Collateral Agent shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. The Trustee ______________________________________ Footnote continued from previous page. Collateral Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Pledgor Pledgors hereby waiveswaive, to the fullest extent permitted by law, any claims against the Trustee Collateral Agent arising by reason of the fact that the price at which any Pledged Collateral may have been sold, assigned or licensed sold at such a private 153 -25- sale was less than the price which might have been obtained at a public sale, even if the Trustee Collateral Agent accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. (ii) Each Pledgor acknowledges and agrees that, to the extent notice of sale shall be required by law, ten days' notice to such Pledgor of the time and place of any public sale or of the time after which any private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to any Pledgor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition.

Disposition of the Pledged Collateral. (i) Upon the occurrence and during the continuance of any an Event of Default, the Trustee may from time to timeAssignee may, (in accordance with the terms of and at the times, if any, times specified in the Indenture and/or the applicable Intercreditor AgreementAgreements) to the extent permitted under applicable law, exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured parry on default under the UCC, and the Trustee may also in its sole discretion, without notice except as specified below, sell, assign or grant a license to use sell the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker's board or at any of the Trustees Assignee's offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as the Trustee Assignee may deem commercially reasonable. The Trustee or any other Secured Party or any of their respective Affiliates Assignee may bid for and be the purchaser, licensee, assignee or recipient purchaser of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold, assigned or licensed sold at such sale, to use and apply deliver any outstanding Note or any other note evidencing the Additional Secured Indebtedness (each, an "Additional Note") or claims for interest thereon in lieu of cash, which Note, Additional Note or claims for interest thereon shall be applied to the Secured Obligations owed to payment of such Person as a credit on account purchase price. In the event that the amount payable in respect of the purchase price of any the Pledged Collateral payable by purchased at any such Person at sale shall be less than the amount due on such saleNote or such Additional Note, such Note or such Additional Note shall be returned to the Assignee after being appropriately stamped to show partial payment. Each purchaser, assignee, licensee or recipient purchaser at any such sale shall acquire the property sold, assigned or licensed sold absolutely free from any claim or right on the part of any Pledgoreach Assignor, and each Pledgor Assignor hereby waives, to the fullest extent permitted by law, all rights of redemption, stay and/or or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. The Trustee Assignee shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. The Trustee Assignee may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Pledgor Assignor hereby waives, to the fullest extent permitted by law, any claims against the Trustee Assignee arising by reason of the fact that the price at which any Pledged Collateral may have been sold, assigned or licensed sold at such a private 153 -25- sale was less than the price which might have been obtained at a public sale, even if the Trustee Assignee accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. (ii) . Each Pledgor acknowledges and Assignor agrees that, to the extent notice of sale shall be required by law, ten five (5) days' notice to such Pledgor from Assignee of the time and place of any public sale or of the time after which any a private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to any Pledgor Assignor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition.

Disposition of the Pledged Collateral. (i) Upon the occurrence and during the continuance of any an Event of Default, the Trustee may from time to timeLender may, in accordance with the terms of of, and at the times, if any, specified in the Indenture and/or the Intercreditor Loan Agreement, exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured parry on default under the UCC, and the Trustee may also in its sole discretion, without notice except as specified belowbelow or as otherwise required by law, sell, assign or grant a license to use sell the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker's board or at any of the Trustees Lender's offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as the Trustee Lender may deem commercially reasonable. The Trustee or any other Secured Party or any of their respective Affiliates Lender may bid for and be the purchaser, licensee, assignee or recipient purchaser of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold, assigned or licensed sold at such sale, to use and apply deliver any outstanding Note or claims for interest thereon in lieu of cash, which Note or claims for interest thereon shall be applied to the Secured Obligations owed to payment of such Person as a credit on account purchase price. In the event that the amount payable in respect of the purchase price of any the Pledged Collateral payable by purchased at any such Person at such salesale shall be less than the amount due on the Note, the Note shall be returned to the Holder after being appropriately stamped to show partial payment. Each purchaser, assignee, licensee or recipient purchaser at any such sale shall acquire the property sold, assigned or licensed sold absolutely free from any claim or right on the part of any PledgorDebtor, and each Pledgor Debtor hereby waives, to the fullest extent permitted by law, all rights of redemption, stay and/or or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. The Trustee Lender shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. The Trustee Lender may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Pledgor Debtor hereby waives, to the fullest extent permitted by law, any claims against the Trustee Lender arising by reason of the fact that the price at which any Pledged Collateral may have been sold, assigned or licensed sold at such a private 153 -25- sale was less than the price which might have been obtained at a public sale, even if the Trustee Lender accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. (ii) Each Pledgor acknowledges and . Debtor agrees that, to the extent notice of sale shall be required by law, ten five (5) days' notice to such Pledgor from Lender of the time and place of any public sale or of the time after which any a private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to any Pledgor Debtor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition.

Disposition of the Pledged Collateral. (iI) Upon the occurrence and during the continuance of any an Event of Default, the Trustee may Secured Party may, from time to time, in accordance with the terms of and at the times, if any, specified in the Indenture and/or the Intercreditor Agreement, exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured parry on default party under the UCCUniform Commercial Code at the time of an event of default, and the Trustee Secured Party may also in its sole discretion, without notice except as specified below, sell, assign or grant a license to use sell the Pledged Collateral or any part thereof in one or more parcels at public or private salesale , at any exchange, broker's board or at any of the Trustees Secured Party's offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as the Trustee Secured Party may deem commercially reasonable. The Trustee or any other Secured Party or any of their respective Affiliates may be the purchaser, licensee, assignee or recipient purchaser of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold, assigned or licensed sold at such sale, to use and apply any of the Secured Obligations owed to such Person as a credit on account of the purchase price of any Pledged Collateral payable by such Person at such sale. Each purchaser, assignee, licensee or recipient purchaser at any such sale shall acquire the property sold, assigned or licensed absolutely sold free from any claim or right on the part of any Pledgor, Debtor and each Pledgor Debtor hereby waives, to the fullest extent permitted by law, all rights of redemption, stay and/or or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. The Trustee Secured Party shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. The Trustee Secured Party may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Pledgor Debtor hereby waives, to the fullest extent permitted by law, any claims against the Trustee Secured Party arising by reason of the fact that the price at which any Pledged Collateral may have been sold, assigned or licensed sold at such a private 153 -25- sale was less than the price which might have been obtained at a public sale, even if the Trustee Secured Party accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. (iiII) Each Pledgor acknowledges and Debtor agrees that, to the extent notice of sale shall be required by law, ten 10 days' notice to such Pledgor from Secured Party of the time and place of any public sale or of the time after which any a private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to any Pledgor Debtor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition. In addition to the rights and remedies provided in this Agreement and in the Note, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code.

Disposition of the Pledged Collateral. (i) Upon the occurrence and during the continuance of any an Event of Default, the Trustee may from time to timeCollateral Agent may, in accordance with the terms of of, and at the times, if any, specified in the Indenture and/or the Intercreditor AgreementIndenture, exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured parry on default under the UCC, and the Trustee may also in its sole discretion, without notice except as specified belowbelow or as otherwise required by law, sell, assign or grant a license to use sell the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker's board or at any of the Trustees Collateral Agent's offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as the Trustee Collateral Agent may deem commercially reasonable. The Trustee Collateral Agent or any other Secured Party or any of their respective Affiliates may bid for and be the purchaser, licensee, assignee or recipient purchaser of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold, assigned or licensed sold at such sale, to use and apply deliver any outstanding Note or claims for interest thereon in lieu of cash, which Note or claims for interest thereon shall be applied to the Secured Obligations owed to payment of such Person as a credit on account purchase price. In the event that the amount payable in respect of the purchase price of any the Pledged Collateral payable by purchased at any such Person at sale shall be less than the amount due on such saleNote, such Note shall be returned to the Secured Party after being appropriately stamped to show partial payment. Each purchaser, assignee, licensee or recipient purchaser at any such sale shall acquire the property sold, assigned or licensed sold absolutely free from any claim or right on the part of any the applicable Pledgor, and each the applicable Pledgor hereby waives, to the fullest extent permitted by law, all rights of redemption, stay and/or or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. The Trustee Collateral Agent shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. The Trustee Collateral Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Pledgor hereby waives, to the fullest extent permitted by law, any claims against the Trustee Collateral Agent arising by reason of the fact that the price at which any Pledged Collateral may have been sold, assigned or licensed sold at such a private 153 -25- sale was less than the price which might have been obtained at a public sale, even if the Trustee Collateral Agent accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. (ii) . Each Pledgor acknowledges and agrees that, to the extent notice of sale shall be required by law, ten five (5) days' notice to such Pledgor from the Collateral Agent of the time and place of any public sale or of the time after which any a private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to any Pledgor if it such Pledgor has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition.

Disposition of the Pledged Collateral. (i) Upon the occurrence and during the continuance of any an Event of Default, the Trustee Transferee may from time to time, (in accordance with the terms of and at the times, if any, times specified in the Indenture and/or the applicable Intercreditor AgreementAgreements) to the extent permitted under applicable law, exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured parry on default under the UCC, and the Trustee may also in its sole discretion, without notice except as specified below, sell, assign or grant a license to use sell the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker's board or at any of the Trustees Transferee's offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as the Trustee Transferee may deem commercially reasonable. The Trustee or any other Secured Party or any of their respective Affiliates Transferee may bid for and be the purchaser, licensee, assignee or recipient purchaser of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold, assigned or licensed sold at such sale, to use and apply deliver any outstanding Note or any other note evidencing the Additional Secured Indebtedness (each, an "Additional Note") or claims for interest thereon in lieu of cash, which Note, Additional Note or claims for interest thereon shall be applied to the Secured Obligations owed to payment of such Person as a credit on account purchase price. In the event that the amount payable in respect of the purchase price of any the Pledged Collateral payable by purchased at any such Person at sale shall be less than the amount due on such saleNote or such Additional Note, such Note or such Additional Note shall be returned to the Transferee after being appropriately stamped to show partial payment. Each purchaser, assignee, licensee or recipient purchaser at any such sale shall acquire the property sold, assigned or licensed sold absolutely free from any claim or right on the part of any Pledgoreach Transferor, and each Pledgor Transferor hereby waives, to the fullest extent permitted by law, all rights of redemption, stay and/or or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. The Trustee Transferee shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. The Trustee Transferee may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Pledgor Transferor hereby waives, to the fullest extent permitted by law, any claims against the Trustee Transferee arising by reason of the fact that the price at which any Pledged Collateral may have been sold, assigned or licensed sold at such a private 153 -25- sale was less than the price which might have been obtained at a public sale, even if the Trustee Transferee accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. (ii) . Each Pledgor acknowledges and Transferor agrees that, to the extent notice of sale shall be required by law, ten five (5) days' notice to such Pledgor from Transferee of the time and place of any public sale or of the time after which any a private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to any Pledgor each Transferor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition.