Common use of Contribution of Contributed Cash and Parent Station Assets Clause in Contracts

Contribution of Contributed Cash and Parent Station Assets. Upon the terms and subject to the conditions of this Agreement (and except as contemplated by Section 8.15), at the Closing and immediately prior to the Merger but after the Amendment Time, (x) Cash Sub shall contribute, transfer, assign, convey and deliver to the Company, and the Company shall receive, acquire and accept from Cash Sub, cash in the amount of Two Hundred Million and Twenty-Six Dollars and Fifty Cents ($200,000,026.50) (the "Contributed Cash") and (y) Parent shall contribute, transfer, assign, convey and deliver to the Company and immediately following such transactions the Company shall contribute, transfer, assign, convey and deliver to the Broadcast Subsidiaries, and the Company shall receive, acquire and accept from Parent, and thereupon the Company shall cause the Broadcast Subsidiaries to receive, acquire and accept from the Company, all of Parent's right, title and interest in and to all of the assets, properties and rights of Parent owned or used by Parent solely in the conduct of the business and operations of the Parent Stations and of Hearst Broadcasting Productions (collectively, the "Parent Station Business"), of every type and description, real, personal and mixed, tangible and intangible, wherever located, as and to the extent existing at the time of the Contribution, other than those assets, properties and rights which are specifically excluded pursuant to Section 2.02