Common use of Selection of Investment Banks Clause in Contracts

Selection of Investment Banks. (a) The TEF Group and the PT Group have jointly retained [***] and [***], as the first choice of Investment Banks to conduct the Independent Valuations required pursuant this Agreement or the Shareholders Agreement (each a “First Choice Investment Bank” and collectively the “First Choice Investment Banks”). For purposes of this Section it shall be considered that [***] has been appointed by the TEF Group and that [***] has been appointed by the PT Group.

Selection of Investment Banks. (a) The TEF Group and the PT Group have jointly retained [***] and [***], as the first choice of Investment Banks to conduct the Independent Valuations required pursuant this Agreement or the Shareholders Agreement (each a “First Choice Investment Bank” and collectively the “First Choice Investment Banks”). For purposes of this Section it shall be considered that [***] has been appointed by the TEF Group and that [***] has been appointed by the PT Group.

Selection of Investment Banks. (a) The TEF Group and the PT Group have jointly retained [***] and [***], as the first choice of Investment Banks to conduct the Independent Valuations required pursuant this Agreement or the Shareholders Agreement (each a “First Choice Investment Bank” and collectively the “First Choice Investment Banks”). For purposes of this Section it shall be considered that [***] has been appointed by the TEF Group and that [***] has been appointed by the PT Group.

Selection of Investment Banks. (a) The TEF Group and the PT Group have jointly retained [* and ***] and [***], as the first choice of Investment Banks to conduct the Independent Valuations required pursuant this Agreement or the Shareholders Agreement (each a “"First Choice Investment Bank” " and collectively the “"First Choice Investment Banks”). For purposes of this Section it shall be considered that [***] * has been appointed by the TEF Group and that [***] * has been appointed by the PT Group.