Common use of Voting Trust Approval Clause in Contracts

Voting Trust Approval. Either (A) Parent and the Company shall be satisfied that, and the FCC shall have confirmed that, the Voting Trust (as defined in the LMC Agreement) will be effective to prevent the beneficiaries thereunder from having an attributable interest, within the meaning of the FCC's rules and regulations, in the assets and businesses of Parent by reason of the Parent Common Stock subject thereto or (B) the parties to the LMC Agreement (other than Parent) shall have acknowledged that the procedures set forth in Section 4.1 of the LMC Agreement relating to exchange for nonvoting shares of Parent Preferred Stock are applicable.

Voting Trust Approval. Either (A) Parent and the Company shall be satisfied that, and the FCC shall have confirmed that, the Voting Trust (as defined in the LMC Agreement) will be effective to prevent the beneficiaries thereunder from having an attributable interest, within the meaning of the FCC's rules and regulations, in the assets and businesses of Parent Holdco by reason of the Parent Common Holdco Capital Stock subject thereto or (B) the parties to the LMC Agreement (other than ParentParent and Time TBS Holdings, Inc.) shall have acknowledged that the procedures set forth in Section 4.1 of the LMC Agreement relating to exchange for nonvoting shares of Parent Preferred Stock Holdco securities are applicable.