Common use of Purchase of Cable System Clause in Contracts

Purchase of Cable System. (A) If at any time this Franchise is revoked, terminated, or not renewed upon expiration in accordance with the provisions of federal law, the City shall have the option to purchase the Cable System. (B) The City may, at any time thereafter, offer in writing to purchase Grantee's Cable System. Grantee shall have thirty (30) days from receipt of a written offer from the City within which to accept or reject the offer. (C) In any case where the City elects to purchase the Cable System, the purchase shall be closed within one hundred twenty (120) days of the date of the City's audit of a current profit and loss statement of Grantee. The City shall pay for the Cable System in cash or certified funds, and Grantee shall deliver appropriate bills of sale and other instruments of conveyance. (D) For the purposes of this subsection, the price for the Cable System shall be determined as follows: (1) In the case of the expiration of the Franchise without renewal, at fair market value determined on the basis of Grantee's Cable System valued as a going concern, but with no value allocated to the Franchise itself. In order to obtain the fair market value, this valuation shall be reduced by the amount of any lien, encumbrance, or other obligation of Grantee which the City would assume. (2) In the case of revocation for cause, the equitable price of Grantee's Cable System.

Purchase of Cable System. ‌ (A) If at any time this Franchise is revoked, terminated, or not renewed upon expiration in accordance with the provisions of federal law, the City Town shall have the option to purchase the Cable System. (B) The City Town may, at any time thereafter, offer in writing to purchase Grantee's Cable System. Grantee shall have thirty (30) days from receipt of a written offer from the City Town within which to accept or reject the offer. (C) In any case where the City Town elects to purchase the Cable System, the purchase shall be closed within one hundred twenty (120) days of the date of the CityTown's audit of a current profit and loss statement of Grantee. The City Town shall pay for the Cable System in cash or certified funds, and Grantee shall deliver appropriate bills of sale and other instruments of conveyance. (D) For the purposes of this subsection, the price for the Cable System shall be determined as follows: (1) In the case of the expiration of the Franchise without renewal, at fair market value determined on the basis of Grantee's Cable System valued as a going concern, but with no value allocated to the Franchise itself. In order to obtain the fair market value, this valuation shall be reduced by the amount of any lien, encumbrance, or other obligation of Grantee which the City Town would assume. (2) In the case of revocation for cause, the equitable price of Grantee's Cable System.

Purchase of Cable System. (A) If at any time this Franchise is revoked, terminated, or not renewed upon expiration in accordance with the provisions of federal law, the City Grantor shall have the option to purchase the Cable System. (B) The City Grantor may, at any time thereafter, offer in writing to purchase Grantee's Cable System. Grantee shall have thirty (30) days from receipt of a written offer from the City Grantor within which to accept or reject the offer. (C) In any case where the City Grantor elects to purchase the Cable System, the purchase shall be closed within one hundred twenty (120) days of the date of the CityGrantor's audit of a current profit and loss statement of Grantee. The City Grantor shall pay for the Cable System in cash or certified funds, and Grantee shall deliver appropriate bills of sale and other instruments of conveyance. (D) For the purposes of this subsection, the price for the Cable System shall be determined as follows: (1) In the case of the expiration of the Franchise without renewal, at fair market value determined on the basis of Grantee's Cable System valued as a going concern, but with no value allocated to the Franchise itself. In order to obtain the fair market value, this valuation shall be reduced by the amount of any lien, encumbrance, or other obligation of Grantee which the City Grantor would assume. (2) In the case of revocation for cause, the equitable price of Grantee's Cable System.

Purchase of Cable System. ‌ (A) If at any time this Franchise is revoked, terminated, or not renewed upon expiration in accordance with the provisions of federal law, the City Town shall have the option to purchase the Cable System. (B) The City Town may, at any time thereafter, offer in writing to purchase Grantee's Cable System. Grantee shall have thirty (30) days from receipt of a written offer from the City Town within which to accept or reject the offer. (C) In any case where the City Town elects to purchase the Cable System, the purchase shall be closed within one hundred twenty (120) days of the date of the City's Town’s audit of a current profit and loss statement of Grantee. The City Town shall pay for the Cable System in cash or certified funds, and Grantee shall deliver appropriate bills of sale and other instruments of conveyance. (D) For the purposes of this subsection, the price for the Cable System shall be determined as follows: (1) In the case of the expiration of the Franchise without renewal, at fair market value determined on the basis of Grantee's Cable System valued as a going concern, but with no value allocated to the Franchise itself. In order to obtain the fair market value, this valuation shall be reduced by the amount of any lien, encumbrance, or other obligation of Grantee which the City Town would assume. (2) In the case of revocation for cause, the equitable price of Grantee's Cable System.

Purchase of Cable System. (A) If at any time this Franchise is revoked, terminated, or not renewed upon expiration in accordance with the provisions of federal law, the City shall have the option to purchase the Cable System. (B) The City may, may at any time thereafter, after the events set forth in subsection (A) offer in writing to purchase Grantee's ’s Cable System. Grantee shall have thirty (30) days from receipt of a written offer from the City within which to accept or reject the offer. (C) In any case where the City elects to purchase the Cable System, the purchase shall be closed within one hundred twenty (120) days of the date of the City's ’s audit of a current profit and loss statement of Grantee. The City shall pay for the Cable System in cash or certified funds, and Grantee shall deliver appropriate bills of sale and other instruments of conveyance. (D) For the purposes of this subsection, the price for the Cable System shall be determined as follows: (1) In the case of the expiration of the Franchise without renewal, at fair market value determined on the basis of Grantee's ’s Cable System valued as a going concern, concern but with no value allocated to the Franchise itself. In order to obtain the fair market value, this valuation shall be reduced by the amount of any lien, encumbrance, or other obligation of Grantee which the City would assume. (2) In the case of revocation for cause, the equitable price of Grantee's ’s Cable System.

Purchase of Cable System. (A) If at any time this Franchise is revoked, terminated, or not renewed upon expiration in accordance with the provisions of federal law, the City Town shall have the option to purchase the Cable System. (B) The City Town may, at any time thereafter, offer in writing to purchase Grantee's Cable System. Grantee shall have thirty (30) days from receipt of a written offer from the City Town within which to accept or reject the offer. (C) In any case where the City Town elects to purchase the Cable System, the purchase shall be closed within one hundred twenty (120) days of the date of the City's Town’s audit of a current profit and loss statement of Grantee. The City Town shall pay for the Cable System in cash or certified funds, and Grantee shall deliver appropriate bills of sale and other instruments of conveyance. (D) For the purposes of this subsection, the price for the Cable System shall be determined as follows: (1) In the case of the expiration of the Franchise without renewal, at fair market value determined on the basis of Grantee's Cable System valued as a going concern, but with no value allocated to the Franchise itself. In order to obtain the fair market value, this valuation shall be reduced by the amount of any lien, encumbrance, or other obligation of Grantee which the City Town would assume. (2) In the case of revocation for cause, the equitable price of Grantee's Cable System.

Purchase of Cable System. (A) If at any time this Franchise License is revoked, terminated, or not renewed upon expiration in accordance with the provisions of federal law, the City District shall have the option to purchase the Cable System. (B) The City District may, at any time thereafter, offer in writing to purchase Grantee's Cable System. Grantee shall have thirty (30) days from receipt of a written offer from the City District within which to accept or reject the offer. (C) In any case where the City District elects to purchase the Cable System, the purchase shall be closed within one hundred twenty (120) days of the date of the CityDistrict's audit of a current profit and loss statement of Grantee. The City District shall pay for the Cable System in cash or certified funds, and Grantee shall deliver appropriate bills of sale and other instruments of conveyance. (D) For the purposes of this subsection, the price for the Cable System shall be determined as follows: (1) In the case of the expiration of the Franchise License without renewal, at fair market value determined on the basis of Grantee's Cable System valued as a going concern, but with no value allocated to the Franchise License itself. In order to obtain the fair market value, this valuation shall be reduced by the amount of any lien, encumbrance, or other obligation of Grantee which the City District would assume. (2) In the case of revocation for cause, the equitable price of Grantee's Cable System.

Purchase of Cable System. (A) If at any time this Franchise is revoked, terminated, or not renewed upon expiration in accordance with the provisions of federal law, the City Grantor shall have the option to purchase the Cable System. (B) The City Grantor may, at any time thereafter, offer in writing to purchase Grantee's Cable System. Grantee shall have thirty (30) days from receipt of a written offer from the City Grantor within which to accept or reject the offer. (C) In any case where the City Grantor elects to purchase the Cable System, the purchase shall be closed within one hundred twenty (120) days of the date of the CityGrantor's audit of a current profit and loss statement of Grantee. The City Grantor shall pay for the Cable System in cash or certified funds, and Grantee shall deliver appropriate bills of sale and other instruments of conveyance. (D) For the purposes of this subsection, the price for the Cable System shall be determined as follows: (1) In the case of the expiration of the Franchise without renewal, at fair market value determined on the basis of Grantee's Cable System valued as a going concern, but with no value allocated to the Franchise itself. In order to obtain the fair market value, this valuation shall be reduced by the amount of any lien, encumbrance, or other obligation of Grantee which the City Grantor would assume. (2) In the case of revocation for cause, the equitable price of Grantee's Cable System.