Right to Return Cable Options within Sixty Days Sample Clauses

Right to Return Cable Options within Sixty Days. Notwithstanding anything to the contrary in Section 1, with respect to GCN's contribution of the Cable Options, Metroplex shall have the right and option, in its absolute discretion, to cause the Company to re-assign the Cable Options to GCN, at any time within the first sixty (60) days after the Cable Options are assigned to the Company, without any obligation to contribute funds to pay the carrying cost of the Cable Options for any period after such re-assignment, based on either (i) any material adverse change from the terms and conditions contained in the draft agreement providing for the Cable Options and disclosed to Metroplex by GCN (a copy of which has been attached hereto as EXHIBIT C); or (ii) Metroplex's objections to any material physical conditions of the real estate or improvements, any material encumbrances, or any other material title defects or exceptions to title ("Objections"), with respect to any parcel of the Cable Property that are not required by the terms of the Cable Options to be cured by the grantors of the Cable Options; provided, however, that GCN may elect in writing to cure any such Objections during the sixty (60) day period after GCN receives from Metroplex written notice of any such Objections, and during such 60-day period, GCN and Metroplex shall remain subject to their respective obligations to contribute cash to the Company to pay the carrying costs of the Cable Options. If such cure is expected to take longer than such 60-day period, Metroplex may waive in writing its right to cause the Cable Options to be assigned to GCN, if GCN agrees in writing to complete such cure before the Company exercises the Cable Options with respect to any parcel(s) subject to such Objections. The provisions of this paragraph (b) shall be implemented pursuant to the review and objection procedures set forth in Sections 1.1, 1.2 and 1.3 of the Company's Option Agreement, except that all references therein to the "Option Property" shall be understood to mean the Cable Property.
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Related to Right to Return Cable Options within Sixty Days

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