CATV Systems definition
Examples of CATV Systems in a sentence
Between the date of this Agreement and the Closing Date, the CATV Systems shall not have suffered, on or prior to Closing, any loss, claim, casualty, or calamity that has a material adverse effect on the Assets or the CATV Systems, whether or not disclosed in Seller's amended Schedules and whether or not covered by insurance.
In addition to the foregoing, the Borrowers will not, nor will they permit their Subsidiaries to, incur or suffer to exist any obligations in an aggregate amount in excess of $50,000,000 at any one time outstanding in respect of surety and performance bonds backing pole rental or conduit attachments and the like, or backing obligations under Franchises, arising in the ordinary course of business of the CATV Systems of the Borrowers and their Subsidiaries.
Each of the Borrowers and their Subsidiaries have reviewed and evaluated in detail the FCC rules currently in effect (the “Rate Regulation Rules”) implementing the cable television rate regulation provisions of the Communications Act and the applicability of such Rate Regulation Rules to the CATV Systems.
The Borrowers will at all times ensure that not more than 15% of gross operating revenue of the Borrowers and their Subsidiaries for any fiscal year shall be derived from any line or lines of business activity other than the business of owning and operating CATV Systems and related communications businesses, including the sale of local advertising on CATV systems.
Seller shall bear the risk of loss on or prior to Closing with respect to the Assets and the CATV Systems as a result of any loss, claim, casualty, or calamity.
Seller shall continue to operate the CATV Systems, shall maintain the Assets (including maintenance and replenishment of all inventories of spare equipment and parts reasonably adequate for the needs of the CATV Systems, including without limitation those listed in Schedule 1.2), and shall keep all of its business books, records, and files all in the ordinary course of business in accordance with past practices, consistently applied.
The CATV Systems and the Assets are suitable for continued use in the manner in which they are presently operated without the need for repairs or replacement, except for the repairs and maintenance normally arising in the ordinary course of business of a cable system of similar age and geographic location.
Seller has not received any notice heretofore not complied with, from any federal, state, local or other governmental authority or agency having jurisdiction over the CATV Systems or the Assets, or any insurance or inspection body, that the CATV Systems or the Assets fail to materially comply with any applicable law, ordinance, regulation, building or zoning law, or the requirements of any public authority or body.
Except as expressly set forth in the Schedules, the CATV Systems are properly located and materially comply with all applicable laws, rules and regulations.
Schedule 5.14.1 contains a true and complete list of the names, positions, current hourly wages or annual salary, and other compensation amounts of all employees of the CATV Systems.