Trust Channels and Related DEMS Systems. (i) If at the Closing control of any DEMS License or channels covered thereby is not permitted by the FCC to be transferred as contemplated by this Agreement, the cash consideration for the Contribution provided for in Section 3(c) above shall be reduced by $618,750 for each channel control of which is not permitted to be transferred to Associated and the Membership Percentage represented by the Interest in Associated to be issued to Contributor at the Closing shall be reduced by an amount equal to the product of (a) 0.6250% and (b) the number of channels control of which is not permitted to be transferred.
Appears in 5 contracts
Samples: Stock Contribution Agreement (Forester Lynn), Stock Contribution Agreement (Teligent Inc), Stock Contribution Agreement (Teligent Inc)
