Common use of FCC Qualification Clause in Contracts

FCC Qualification. Buyer has no knowledge of any facts which would, under present law (including the Communications Act of 1934, as amended) and present rules, regulations and practices of the FCC, disqualify Buyer as an assignee of the licenses, permits and authorizations listed on Schedule 3.4 hereto, or as an owner and/or operator of the Station's Assets, and Buyer will not take, or unreasonably fail to take, any action which Buyer knows or has reason to know would cause such disqualification (it being understood that Buyer has an active duty to attempt to ascertain what would cause such disqualification). Should Buyer become aware of any such facts, it will promptly notify Seller in writing thereof and use its best efforts to prevent any such disqualification. Buyer further represents and warrants that it is financially qualified to meet all terms, conditions and undertakings contemplated by this Agreement.

FCC Qualification. Buyer has no knowledge of any facts which would, under present law (including the Communications Act of 1934, as amended) and the present rules, regulations regulations, and practices policies of the FCC, disqualify Buyer as an assignee of the licenses, permits and authorizations FCC Licenses listed on Schedule 3.4 hereto, or as an owner and/or and operator of the Station's Assets, and Buyer will not take, or nor unreasonably fail to take, any action which Buyer knows or has reason to know would cause such disqualification (it being understood that Buyer has an active duty to attempt to ascertain what would cause such disqualification). Should Buyer become aware of any such facts, it will promptly notify Seller Sellers in writing thereof and use its best efforts to prevent or remove any such disqualification, as the case may be. Buyer further represents and warrants that it is financially qualified to meet all terms, conditions conditions, and undertakings contemplated by this Agreement.