Time Brokerage Agreements. Buyers shall be solely responsible for all costs and expenses relating to or arising from the commencement of Buyers' programming on the Stations and the performance by Buyers of their other obligations under the Time Brokerage Agreements. No act or omission of either Buyers, on the one hand, or Sellers, on the other hand, or their respective agents during the effective period of the Time Brokerage Agreements shall constitute or result in a breach or default by the other party of any representation, warranty or covenant of such other party contained in this Agreement.
Time Brokerage Agreements. The Time Brokerage Agreements shall be in full force and effect.
Time Brokerage Agreements. If the Time Brokerage Agreements are terminated by Sellers in accordance with their terms.
Time Brokerage Agreements. Cox shall have performed in all material respects all of its covenants and agreements required to be performed by it under the Time Brokerage Agreements.
Time Brokerage Agreements. Chancellor will commence operations of each and all of the SFX Stations (which are not otherwise acquired by Chancellor on the Capstar-SFX Merger closing date) under separate time brokerage agreements (the "TBA's") under the following conditions:
(a) No TBA shall commence until all necessary Hart-Xxxxx-Xxxxxx xxxting periods have expired or DOJ has otherwise approved such operations.
(b) The TBA's shall otherwise commence on the earlier of (i) the Capstar-SFX Merger closing date, or (ii) such earlier date as may be acceptable to Chancellor and is approved and agreed to by SFX. The commencement date for the TBA for each SFX Station may be determined independently, and the delay of one such TBA shall not preclude earlier commencement of any other TBA which meets these conditions. Each TBA shall be for a ten year term, with a five year renewal option, subject to termination upon the closing of the contemplated exchange or purchase by Chancellor.
(c) The TBA's shall utilize form agreements for such operations customary in the radio industry, and shall provide for the sale of substantially all of the programming time on each such SFX Station to Chancellor. All revenues and expenses from station operations during the TBA period shall belong to Chancellor, except for any expenses required by FCC rules or policies to be retained by the licensee. The TBA's shall provide for the reimbursement of any expenses required by the FCC rules and policies to be retained by the licensee and such capital expenditures for the SFX Station as Chancellor shall approve (it being understood that Capstar shall not make any capital expenditures other than those required and paid for by Chancellor).
(d) The TBA fee shall be charged and paid monthly in arrears during the period of TBA operations, and the monthly fee shall be an amount equal to ten percent (10%) of the Station Valuation, divided by twelve. The TBA fee for each SFX Station so operated shall be paid to SFX during the period prior to the Capstar-SFX Merger closing (if such TBA is permitted by SFX) and to Capstar thereafter.
Time Brokerage Agreements. Each Subsidiary, as applicable, shall have complied in all material respects with their respective obligations under each Time Brokerage Agreement and the Boston Affiliation Agreement.
Time Brokerage Agreements. 27 SECTION 7. CONDITIONS TO OBLIGATIONS OF BUYERS AND SELLERS AT THE CLOSINGS.....................................................27 7.1 Conditions to Obligations of Buyers at the First Closing.........27 7.2 Conditions to Obligations of Sellers at the First Closing.....
Time Brokerage Agreements. The Time Brokerage Agreements shall have been duly executed by the parties referred to therein.
Time Brokerage Agreements. On the date hereof, the Parties shall enter into the Time Brokerage Agreements, substantially in the form of Exhibits A and B attached hereto, with respect to KKTV and KCOY, respectively. Unless otherwise set forth herein, the Parties agree that the following matters relating to the Stations shall be governed in accordance with the Time Brokerage Agreements: (i) employees; (ii) accounts receivables; (iii) prorations and adjustments of the income and expense of the Stations; and (iv) cash sales and trade agreements.
Time Brokerage Agreements. Anything to the contrary contained in this Agreement notwithstanding, neither Party shall be deemed to have breached or failed to comply with any of its covenants under this Agreement with respect to the Station owned by it if such breach or failure is due or caused by any act, omission or instruction of the other Party under or in connection with the applicable Time Brokerage Agreement or any activities or transactions in furtherance thereof or in connection therewith.
