Telecommunications Act of 1996. The term “Telecommunications Act of 1996” refers to the Telecommunications Act of 1996, Pub. L. No. 104-104, 110 Stat. 56, enacted February 8, 1996.
Telecommunications Act of 1996. (a) Each member of the Vodafone Shareholder Group and the Corporation acknowledges that the Verizon Shareholder Group and their parent Verizon are subject to the terms of the Telecom Act, and that the activities of the Corporation, the Subsidiaries, entities in which the Corporation or any Subsidiary has an equity interest, and entities over which the Corporation or any Subsidiary has, directly or indirectly, the power or ability to influence or control the management thereof, may be attributed to the Verizon Shareholder Group and Verizon under the Telecom Act. Accordingly, the parties shall cause the Corporation and each Subsidiary to act in conformity and compliance with the Telecom Act, and to not undertake any activities, or own any assets, that would be prohibited to any member of the Verizon Shareholder Group under the Telecom Act.
(b) The Verizon Shareholder Group shall provide to the Corporation and the Subsidiaries advice and direction with respect to compliance with the Telecom Act. Such advice and direction shall include written guidelines ("Guidelines"), to be provided by the Verizon Shareholder Group from time to time, setting forth a description of those assets in which the Corporation should not acquire a direct or indirect interest, and those activities in which the Corporation should not directly or indirectly engage, without first receiving "Guidance." "Guidance" shall mean (i) a written memorandum, opinion or similar writing, prepared by counsel to the Verizon Shareholder Group, stating that the Corporation may acquire the asset, or engage in the activity, in question; or (ii) the affirmative vote by the "Telecom Act Board Member," in his capacity as a Director, approving the
Telecommunications Act of 1996. (a) Each member of the Vodafone Shareholder Group and the Corporation acknowledges that the Verizon Shareholder Group and their parent Verizon are subject to the terms of the Telecom Act, and that the activities of the Corporation, the Subsidiaries, entities in which the Corporation or any Subsidiary has an equity interest, and entities over which the Corporation or any Subsidiary has, directly or indirectly, the power or ability to influence or control the management thereof, may be attributed to the Verizon Shareholder. Group and Verizon under the Telecom Act. Accordingly, the parties shall cause the Corporation and each Subsidiary to act in conformity and compliance with the Telecom Act, and to not undertake any activities, or own any assets, that would be prohibited to any member of the Verizon Shareholder Group under the Telecom Act.
(b) The Verizon Shareholder Group shall provide to the Corporation and the Subsidiaries advice and direction with respect to compliance with the Telecom Act. Such advice and direction shall include written guidelines ("Guidelines"), to be provided by the Verizon Shareholder Group from time to time, setting forth a description of those assets in which the Corporation should not acquire a direct or indirect interest, and those activities in which the Corporation should not directly or indirectly engage, without fast receiving "Guidance." "Guidance" shall mean (i) a written memorandum, opinion or similar writing, prepared by counsel to the Verizon Shareholder Group, stating that the Corporation may acquire the asset, or engage in the activity, in question; or (ii) the affirmative vote by the "Telecom Act Board Member," in his capacity as a Director, approving the acquisition of the asset, or the undertaking of the activity, in question, unless he is given inaccurate information with respect to such acquisition or undertaking in connection with such affirmative vote. The "Telecom Act Board Member" shall mean a Series A Director who is designated from time to time by the holders of the majority of Series A Shares as the "Telecom Act Board Member"; provided, however, that such Person shall be the Verizon -------- ------- Series A Designated Director until such time as the holders of the majority of Series A Shares designate otherwise and so notify in writing the Corporation and the Vodafone Shareholder Group.
Telecommunications Act of 1996. Agreement Service Provider Abbreviated Name and VDOT shall comply with the Telecommunications Act of 1996 and in the event, any provision under this Agreement is determined by a court of competent jurisdiction to be in violation of the Act, then VDOT, in its sole discretion, may modify the Agreement to conform to the Act or terminate the Agreement.
Telecommunications Act of 1996. The School Board and VDOT shall comply with the Telecommunications Act of 1996 and in the event, any provision under this Agreement is determined by a court of competent jurisdiction to be in violation of the Act, then VDOT and the School Board shall negotiate in good faith to modify the Agreement to conform to the Act, or either party may terminate the Agreement without constituting an “Event of Default”
