Method of Exchange. The Exchange is to occur as follows: (A) PARTY A Tangible Personal Property and PARTY B Tangible Personal Property are being exchanged each for the other; (B) PARTY A Owned Property, PARTY A Leased Property, and PARTY A Other Real Property Interests and PARTY B Owned Property, PARTY B Leased Property, and PARTY B Other Real Property Interests are being exchanged each for the other; and (C) PARTY A Systems Contracts, PARTY A Systems Franchises, PARTY A Systems Licenses, and PARTY A Other Intangibles and PARTY B Systems Contracts, PARTY B Systems Franchises, PARTY B Systems Licenses, and PARTY B Other Intangibles are being exchanged each for the other. In each case, the assets described in this Section 2.2 shall be exchanged each for the other in "Exchange Groups" as defined under Treasury Regulations Sections 1.1031(a)-2 and 1.1031(j)-1, and in each case to the maximum extent permitted by Section 1031 of the Code and the regulations promulgated thereunder. Liabilities assumed or taken subject to by each Party are being exchanged each for the other to the maximum extent permitted under Section 1031 of the Code and regulations thereunder.
Appears in 3 contracts
Samples: Asset Exchange Agreement (Avalon Cable Holdings Finance Inc), Asset Exchange Agreement (Avalon Cable Holdings Finance Inc), Asset Exchange Agreement (Avalon Cable Holdings Finance Inc)
Method of Exchange. The Exchange is to occur as follows: (A) PARTY A Tangible Personal Property and PARTY B Tangible Personal Property are being exchanged each for the other; (B) PARTY A Owned Property, PARTY A Leased Property, and PARTY A Other Real Property Interests and PARTY B Owned Property, PARTY B Leased Property, and PARTY B Other Real Property Interests are being exchanged each for the other; and (C) PARTY A Systems Contracts, PARTY A Systems Franchises, PARTY A Systems Licenses, and PARTY A Other Intangibles and PARTY B Systems Contracts, PARTY B Systems Franchises, PARTY B Systems Licenses, and PARTY B Other Intangibles are being exchanged each for the other. In each case, the assets described in this Section 2.2 shall be exchanged each for the other in "Exchange Groups" as defined under Treasury Regulations Sections 1.1031(a)-2 and 1.1031(j)-1, and in each case to the maximum extent permitted by Section 1031 of the Code and the regulations promulgated thereunder. Liabilities assumed or taken subject to by each Party are being exchanged each for the other to the maximum extent permitted under Section 1031 of the Code and regulations thereunder.. - 7 - <PAGE> 9
Appears in 1 contract
Samples: Asset Exchange Agreement
