Common use of FCC Approvals Clause in Contracts

FCC Approvals. (a) The Company and Buyer will, as applicable, within ten (10) days of the Effective Date, execute and file filing copies of FCC applications to either (i) seek the consent of the FCC to the assignment of the FCC Licenses to Buyer, or (ii) have the FCC Licenses reissued by the FCC in the name of Buyer, as appropriate (collectively, the “FCC Approvals”). The Company and Buyer agree to use their respective reasonable best efforts to cooperate with any requests for information, filing of forms, communications with the FCC or other actions which are reasonably necessary in order to obtain the FCC Approvals. (b) If the FCC Approvals have not been obtained on or before the Closing Date and no special temporary authority has been granted by the FCC that allows Buyer to operate under the FCC Licenses, then (i) the Closing shall nevertheless occur as scheduled, and (ii) the parties will comply with any applicable requirements of the FCC or applicable Law (including the Company tendering for cancellation the FCC Licenses). Buyer agrees that it will not use or operate the equipment which is the subject of the FCC Licenses or the FCC Approvals after the Closing in violation of any requirements of the FCC or any applicable Law.

Appears in 2 contracts

Samples: Equity Interest Purchase Agreement (CAESARS ENTERTAINMENT Corp), Equity Interest Purchase Agreement (Penn National Gaming Inc)

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FCC Approvals. (a) The Company Each Seller and Buyer will, as applicable, within ten not later than fifteen (1015) days after the execution of this Agreement by the Effective Dateparties, execute and file filing copies of FCC applications to either (i) seek the consent of the FCC to the assignment of the FCC Licenses to BuyerBuyer (“FCC Approval”), or (ii) have Buyer will apply for licenses comparable to the FCC Licenses reissued licenses to be issued by the FCC in the name of Buyer, as appropriate (collectively, the “FCC ApprovalsApplication”). The Company applicable Seller and Buyer agree to use their respective reasonable best efforts to cooperate with any requests for information, filing of forms, communications with the FCC or other actions which are reasonably necessary in order to obtain the FCC ApprovalsApproval. (b) If the FCC Approvals have Approval has not been obtained on or before the Closing Date and no special temporary authority has been granted by the FCC that allows Buyer to operate under the FCC LicensesLicenses or the FCC Application has not been granted, then (i) the Closing shall nevertheless occur as scheduled, and (ii) the parties will comply with any applicable requirements of the FCC or applicable Law (including the Company without limitation Seller tendering for cancellation the FCC Licenses). Buyer agrees that it will not use or operate the equipment which is the subject of the FCC Licenses Licenses, FCC Approval or the FCC Approvals Application after the Closing in violation of any requirements of the FCC or any applicable Law.

Appears in 1 contract

Samples: Asset Purchase Agreement (Harrahs Entertainment Inc)

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FCC Approvals. (a) The Company Each Seller and Buyer will, as applicable, within ten not later than fifteen (1015) days after the execution of this Agreement by the Effective Dateparties, execute and file filing copies of FCC applications to either (i) seek the consent of the FCC to the assignment of the FCC Licenses to BuyerBuyer ("FCC Approval"), or (ii) have Buyer will apply for licenses comparable to the FCC Licenses reissued licenses to be issued by the FCC in the name of Buyer, as appropriate (collectively, the “"FCC Approvals”Application"). The Company applicable Seller and Buyer agree to use their respective reasonable best efforts to cooperate with any requests for information, filing of forms, communications with the FCC or other actions which are reasonably necessary in order to obtain the FCC ApprovalsApproval. (b) If the FCC Approvals have Approval has not been obtained on or before the Closing Date and no special temporary authority has been granted by the FCC that allows Buyer to operate under the FCC LicensesLicenses or the FCC Application has not been granted, then (i) the Closing shall nevertheless occur as scheduled, and (ii) the parties will comply with any applicable requirements of the FCC or applicable Law (including the Company without limitation Seller tendering for cancellation the FCC Licenses). Buyer agrees that it will not use or operate the equipment which is the subject of the FCC Licenses Licenses, FCC Approval or the FCC Approvals Application after the Closing in violation of any requirements of the FCC or any applicable Law.

Appears in 1 contract

Samples: Asset Purchase Agreement (Caesars Entertainment Inc)

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