Common use of OWNERSHIP AND INDEFEASIBLE RIGHT OF USE Clause in Contracts

OWNERSHIP AND INDEFEASIBLE RIGHT OF USE. (a) All right, title, and interest in the C-Net shall always remain exclusively with Comcast. Subject to the terms and conditions of this Agreement, Comcast grants each of the LFAs individually an exclusive and indefeasible right of use (IRU) in the C-Net that serves only facilities within each LFA’s respective boundaries, and the LFAs jointly an exclusive and indefeasible IRU in the remainder of the C-Net, which consists of fiber connections to Comcast hubs, nodes and headend (the “Joint Facilities”). (b) The IRU granted herein does not convey to the LFAs any legal title to any real or personal property; provided that, to the fullest extent permitted by law, and solely for the Term of this Agreement, as to those portions of the C-Net for which an LFA holds the IRU (whether separately, or jointly with other LFAs), the IRU grants the LFAs all beneficial title and interest in the C-Net, and the LFAs shall be the beneficial owners of the C-Net, possessing equitable title thereto, and shall have the exclusive and indefeasible right of use of the C-Net (jointly, with respect to the Joint Facilities) as if the LFAs were the absolute owner thereof. Notwithstanding anything herein to the contrary, upon the Effective Date, the grant of the IRU in the C-Net shall be deemed fully performed, shall vest in the LFAs and shall be deemed severable and non-executory.

Appears in 3 contracts

Samples: Cable Franchise Agreement, Cable Franchise Agreement, Cable Franchise Agreement

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OWNERSHIP AND INDEFEASIBLE RIGHT OF USE. (a) All right, title, and interest in the C-Net shall always remain exclusively with Comcast. Subject to the terms and conditions of this Agreement, Comcast grants each of the LFAs individually an exclusive and indefeasible right of use (IRU) in the C-Net that serves only facilities within each LFA’s respective boundaries, and the LFAs jointly an exclusive and indefeasible IRU in the remainder of the C-Net, which consists of fiber connections to Comcast hubs, nodes and headend (the “Joint Facilities”). (b) The IRU granted herein does not convey to the LFAs any legal title to any real or personal property; provided that, to the fullest extent permitted by law, and solely for the Term of this Agreement, as to those portions of the C-Net for which an LFA holds the IRU (whether separately, or jointly with other LFAs), the IRU grants the LFAs all beneficial title and interest in the C-Net, and the LFAs shall be the beneficial owners of the C-Net, possessing equitable title thereto, and shall have the exclusive and indefeasible right of use of the C-Net (jointly, with respect to the Joint Facilities) as if the LFAs were the absolute owner thereof. Notwithstanding anything herein to the contrary, upon the Effective Date, the grant of the IRU in the C-Net shall be deemed fully performed, shall vest in the LFAs and shall be deemed severable and non-non- executory.

Appears in 2 contracts

Samples: Cable Franchise Agreement, Cable Franchise Agreement

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