LMA Commencement Date definition
Examples of LMA Commencement Date in a sentence
Seller and Buyer are, simultaneously with the execution and delivery of this Agreement, entering into a Local Marketing Agreement for the Stations (the “Local Marketing Agreement”), pursuant to which, commencing on the LMA Commencement Date (as defined below), Buyer shall provide programming on the Stations pursuant to the terms and conditions contained therein, pending the Closing of the transactions contemplated by this Agreement.
Such Prorated Purchased Assets and Prorated Assumed Liabilities relating to the period prior to the earlier of the LMA Commencement Date and the Effective Time shall be for the account of Seller and those relating to the period on and after the earlier of the LMA Commencement Date and the Effective Time for the account of Buyer and shall be prorated accordingly.
Buyer shall honor all vacation, personal and sick days accrued by Transferred Employee under Seller's plans, policies, programs and arrangements immediately prior to the LMA Commencement Date.
Buyer shall use commercially reasonable efforts to collect the Accounts Receivable during the period (the “Collection Period”) beginning on the earlier of the LMA Commencement Date or the Closing Date and ending on the 120th day thereafter, in the ordinary course of business; provided, that Buyer shall be under no obligation to commence or not to commence litigation or legal action to effect collection.
Without limiting the foregoing, each of Buyer and each Seller will use reasonable efforts to ensure that all of its representations and warranties set forth in this Agreement remain true and correct up to and including the LMA Commencement Date or the Closing Date, as applicable.
Seller shall bear the risk of casualty loss or damage to any of the Purchased Assets prior to the earlier of the LMA Commencement Date and the Effective Time, and Buyer shall bear such risk on and after the earlier of the LMA Commencement Date and Closing Date.
Connoisseur Sellers hereby, jointly and severally, represent and warrant to Buyer as follows (Connoisseur Sellers agree that, if Buyer and Connoisseur Sellers commence operations under the LMA pursuant to its terms, then as of the LMA Commencement Date each representation and warranty set forth in this Article III will be deemed to be remade by Connoisseur Sellers as a material inducement to Buyer to commence operations under the LMA.
Contemporaneously with the execution hereof, Buyer and Parent covenant and agree to execute and deliver to each other a Joint Sales Agreement in respect of Parent's radio broadcast station WSM-AM, serving the Nashville, Tennessee market, with a commencement date of the LMA Commencement Date.
For the avoidance of any doubt, Buyer shall have no termination right under this Section 4.4(b) after the LMA Commencement Date.
If Seller is unable to repair or replace a Damaged Asset by the LMA Commencement Date or the Effective Time, as applicable, Seller shall reimburse Buyer for all reasonable out-of-pocket costs incurred by Buyer in repairing or replacing the Damaged Assets or assign to Buyer the applicable portion of any insurance proceeds not previously expended by Seller to repair or replace the damaged or destroyed property, after the LMA Commencement Date or the Effective Time, as the case may be.