Examples of Option Licenses in a sentence
If the Company elects to include any Option Section in the Territory pursuant to Section 6.2, NWIP will, within 30 days thereafter, cause appropriate applications to be filed with the FCC for the approval of the assignment to License Co. of licenses (the "Option Licenses") for that number of Useable Frequencies for each Build Area within such Option Section as set forth on Exhibit 4.1 (the "Option Frequencies").
Upon the earlier of the granting of FCC approval of the assignment of the Option Licenses to License Co. or, if applicable, the granting by NWIP of management rights with respect to the Option Frequencies, the Company will issue to NWIP a number of shares of Equity equal to the aggregate Exhibit 4.1 Value of such frequencies divided by the Equity Value on the date hereof, as appropriately adjusted for stock splits and combinations, stock dividends and the like.
The parties acknowledge and agree that it would be difficult to -------- measure economic losses to ART and the Sellers, respectively, that result from the breach of any of the covenants of Sellers or ART, respectively, in this Agreement, and that because of the uniqueness of the Assets, Licenses and Option Licenses, money damages would not be an adequate remedy.
Subject to the terms of this Agreement, Xxxx Xxxxxx, for ----- himself and for the Bachow Affiliates, hereby grants ART the option (the "Option") to acquire the Option Licenses.
If the Option is exercised, the parties (a) acknowledge that one or more of the Option Licenses may be granted or awarded to a Bachow Affiliate and agree that such Bachow Affiliate shall execute the applicable Purchase Agreement with ART and the applicable Purchase Agreement will be appropriately modified and (b) anticipate the first agreement and Closing thereunder to include the transfer of all of the Granted Auction Licenses and Pending Auction Licenses.
If ART exercises the Option, ART must acquire all Option Licenses, provided ART shall not be required to acquire (a) any Pending MX Auction License unless and until it becomes a Cleared License or (b) any other Option License prior to it being granted by Final Order.
Sellers shall not be liable for indemnification claims under this Section 8.1 unless Sellers are given notice of the claim by ART within two years following the Closing (or with respect to Future Licenses, Option Licenses and Plaincom Licenses transferred after the Closing, two years from the applicable closing with respect thereto).
In addition to the Assets and the Option Licenses, in exchange for the non-competition covenant set forth in Section 5.2 hereof, Sellers shall issue to each of Gregx Xxxxx xxx Mark XxXxxxx xx the Closing (as defined below), warrants or options to purchase an aggregate of 5,000 shares of Common Stock of UOL Publishing, Inc.