Common use of Disposition of the Pledged Collateral Clause in Contracts

Disposition of the Pledged Collateral. Upon the occurrence of an Event of Default, Transferee may (in accordance with the terms of and at the times specified in the Indenture and/or the applicable Intercreditor Agreements) to the extent permitted under applicable law, in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, without notice except as specified below, sell the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker's board or at any of Transferee's offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as Transferee may deem commercially reasonable. Transferee may bid for and be the purchaser of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold at such sale, to deliver any outstanding Note or any other note evidencing the Additional Secured Indebtedness (each, an "Additional Note") or claims for interest thereon in lieu of cash, which Note, Additional Note or claims for interest thereon shall be applied to the payment of such purchase price. In the event that the amount payable in respect of the purchase price of the Pledged Collateral purchased at any such sale shall be less than the amount due on such Note or such Additional Note, such Note or such Additional Note shall be returned to the Transferee after being appropriately stamped to show partial payment. Each purchaser at any such sale shall acquire the property sold absolutely free from any claim or right on the part of each Transferor, and each Transferor hereby waives, to the fullest extent permitted by law, all rights of redemption, stay or appraisal hereafter enacted. Transferee shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. Transferee may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Transferor hereby waives, to the fullest extent permitted by law, any claims against Transferee arising by reason of the fact that the price at which any Pledged Collateral may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if Transferee accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. Each Transferor agrees that, to the extent notice of sale shall be required by law, five (5) days' notice from Transferee of the time and place of any public sale or of the time after which a private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to each Transferor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition.

Disposition of the Pledged Collateral. Upon the occurrence of an Event of Default, Transferee may Assignee may, (in accordance with the terms of and at the times specified in the Indenture and/or the applicable Intercreditor Agreements) to the extent permitted under applicable law, in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, without notice except as specified below, sell the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker's board or at any of TransfereeAssignee's offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as Transferee Assignee may deem commercially reasonable. Transferee Assignee may bid for and be the purchaser of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold at such sale, to deliver any outstanding Note or any other note evidencing the Additional Secured Indebtedness (each, an "Additional Note") or claims for interest thereon in lieu of cash, which Note, Additional Note or claims for interest thereon shall be applied to the payment of such purchase price. In the event that the amount payable in respect of the purchase price of the Pledged Collateral purchased at any such sale shall be less than the amount due on such Note or such Additional Note, such Note or such Additional Note shall be returned to the Transferee Assignee after being appropriately stamped to show partial payment. Each purchaser at any such sale shall acquire the property sold absolutely free from any claim or right on the part of each TransferorAssignor, and each Transferor Assignor hereby waives, to the fullest extent permitted by law, all rights of redemption, stay or appraisal hereafter enacted. Transferee Assignee shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. Transferee Assignee may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Transferor Assignor hereby waives, to the fullest extent permitted by law, any claims against Transferee Assignee arising by reason of the fact that the price at which any Pledged Collateral may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if Transferee Assignee accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. Each Transferor Assignor agrees that, to the extent notice of sale shall be required by law, five (5) days' notice from Transferee Assignee of the time and place of any public sale or of the time after which a private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to each Transferor any Assignor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition.

Disposition of the Pledged Collateral. Upon the occurrence and during the continuance of an Event of Default, Transferee may (Lender may, in accordance with the terms of of, and at the times times, if any, specified in the Indenture and/or the applicable Intercreditor Agreements) to the extent permitted under applicable lawLoan Agreement, exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, without notice except as specified belowbelow or as otherwise required by law, sell the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker's board or at any of TransfereeLender's offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as Transferee Lender may deem commercially reasonable. Transferee Lender may bid for and be the purchaser of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold at such sale, to deliver any outstanding Note or any other note evidencing the Additional Secured Indebtedness (each, an "Additional Note") or claims for interest thereon in lieu of cash, which Note, Additional Note or claims for interest thereon shall be applied to the payment of such purchase price. In the event that the amount payable in respect of the purchase price of the Pledged Collateral purchased at any such sale shall be less than the amount due on such Note or such Additional the Note, such Note or such Additional the Note shall be returned to the Transferee Holder after being appropriately stamped to show partial payment. Each purchaser at any such sale shall acquire the property sold absolutely free from any claim or right on the part of each TransferorDebtor, and each Transferor Debtor hereby waives, to the fullest extent permitted by law, all rights of redemption, stay or appraisal hereafter enacted. Transferee Lender shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. Transferee Lender may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Transferor Debtor hereby waives, to the fullest extent permitted by law, any claims against Transferee Lender arising by reason of the fact that the price at which any Pledged Collateral may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if Transferee Lender accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. Each Transferor Debtor agrees that, to the extent notice of sale shall be required by law, five (5) days' notice from Transferee Lender of the time and place of any public sale or of the time after which a private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to each Transferor Debtor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition.

Disposition of the Pledged Collateral. Upon the occurrence of an Event of Default, Transferee Collateral Agent may (in accordance with the terms of and at the times specified in the Indenture and/or the applicable Intercreditor Agreements) from time to the extent permitted under applicable lawtime, subject to any necessary prior or subsequent FCC approval, exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured party on default under the UCC, and Collateral Agent may also in its sole discretion, without notice except as specified below, sell the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker's board or at any of TransfereeCollateral Agent's offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as Transferee Collateral Agent may deem commercially reasonable. Transferee Collateral Agent or any other Secured Party or any of their respective Affiliates may bid for and be the purchaser of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold at such sale, to deliver use and apply any outstanding Note or any other note evidencing of the Additional Secured Indebtedness (each, an "Additional Note") or claims for interest thereon in lieu of cash, which Note, Additional Note or claims for interest thereon shall be applied Obligations owed to the payment of such purchase price. In the event that the amount payable in respect Person as a credit on account of the purchase price of the any Pledged Collateral purchased payable by such Person at any such sale shall be less than the amount due on such Note or such Additional Note, such Note or such Additional Note shall be returned to the Transferee after being appropriately stamped to show partial paymentsale. Each purchaser at any such sale shall acquire the property sold absolutely free from any claim or right on the part of each TransferorPledgors, and each Transferor Pledgors hereby waiveswaive, to the fullest extent permitted by law, all rights of redemption, stay and/or appraisal which it now has or appraisal may at any time in the future have under any rule of law or statute now existing or hereafter enacted. Transferee Collateral Agent shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. Transferee ______________________________________ Footnote continued from previous page. Collateral Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Transferor Pledgors hereby waiveswaive, to the fullest extent permitted by law, any claims against Transferee Collateral Agent arising by reason of the fact that the price at which any Pledged Collateral may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if Transferee Collateral Agent accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. Each Transferor agrees that, to the extent notice of sale shall be required by law, five (5) days' notice from Transferee of the time and place of any public sale or of the time after which a private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to each Transferor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition.

Disposition of the Pledged Collateral. Upon the occurrence and during the continuance of an Event of Default, Transferee may (the Collateral Agent may, in accordance with the terms of of, and at the times times, if any, specified in the Indenture and/or the applicable Intercreditor Agreements) to the extent permitted under applicable lawIndenture, exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, without notice except as specified belowbelow or as otherwise required by law, sell the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker's board or at any of Transfereethe Collateral Agent's offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as Transferee the Collateral Agent may deem commercially reasonable. Transferee The Collateral Agent or any Secured Party may bid for and be the purchaser of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold at such sale, to deliver any outstanding Note or any other note evidencing the Additional Secured Indebtedness (each, an "Additional Note") or claims for interest thereon in lieu of cash, which Note, Additional Note or claims for interest thereon shall be applied to the payment of such purchase price. In the event that the amount payable in respect of the purchase price of the Pledged Collateral purchased at any such sale shall be less than the amount due on such Note or such Additional Note, such Note or such Additional Note shall be returned to the Transferee Secured Party after being appropriately stamped to show partial payment. Each purchaser at any such sale shall acquire the property sold absolutely free from any claim or right on the part of each Transferorthe applicable Pledgor, and each Transferor the applicable Pledgor hereby waives, to the fullest extent permitted by law, all rights of redemption, stay or appraisal hereafter enacted. Transferee The Collateral Agent shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. Transferee The Collateral Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Transferor Pledgor hereby waives, to the fullest extent permitted by law, any claims against Transferee the Collateral Agent arising by reason of the fact that the price at which any Pledged Collateral may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if Transferee the Collateral Agent accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. Each Transferor Pledgor agrees that, to the extent notice of sale shall be required by law, five (5) days' notice from Transferee the Collateral Agent of the time and place of any public sale or of the time after which a private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to each Transferor any Pledgor if it such Pledgor has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition.

Disposition of the Pledged Collateral. (i) Upon the occurrence and during the continuance of an any Event of Default, Transferee the Trustee may (from time to time, in accordance with the terms of and at the times times, if any, specified in the Indenture and/or the applicable Intercreditor Agreements) to the extent permitted under applicable lawAgreement, exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured parry on default under the UCC, and the Trustee may also in its sole discretion, without notice except as specified below, sell sell, assign or grant a license to use the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker's board or at any of Transferee's the Trustees offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as Transferee the Trustee may deem commercially reasonable. Transferee The Trustee or any other Secured Party or any of their respective Affiliates may bid for and be the purchaser purchaser, licensee, assignee or recipient of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold sold, assigned or licensed at such sale, to deliver use and apply any outstanding Note or any other note evidencing of the Additional Secured Indebtedness (each, an "Additional Note") or claims for interest thereon in lieu of cash, which Note, Additional Note or claims for interest thereon shall be applied Obligations owed to the payment of such purchase price. In the event that the amount payable in respect Person as a credit on account of the purchase price of the any Pledged Collateral purchased payable by such Person at any such sale shall be less than the amount due on such Note or such Additional Note, such Note or such Additional Note shall be returned to the Transferee after being appropriately stamped to show partial paymentsale. Each purchaser purchaser, assignee, licensee or recipient at any such sale shall acquire the property sold sold, assigned or licensed absolutely free from any claim or right on the part of each Transferorany Pledgor, and each Transferor Pledgor hereby waives, to the fullest extent permitted by law, all rights of redemption, stay and/or appraisal which it now has or appraisal may at any time in the future have under any rule of law or statute now existing or hereafter enacted. Transferee The Trustee shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. Transferee The Trustee may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Transferor Pledgor hereby waives, to the fullest extent permitted by law, any claims against Transferee the Trustee arising by reason of the fact that the price at which any Pledged Collateral may have been sold sold, assigned or licensed at such a private 153 -25- sale was less than the price which might have been obtained at a public sale, even if Transferee the Trustee accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. . (ii) Each Transferor Pledgor acknowledges and agrees that, to the extent notice of sale shall be required by law, five (5) ten days' notice from Transferee to such Pledgor of the time and place of any public sale or of the time after which a any private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to each Transferor any Pledgor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition.

Disposition of the Pledged Collateral. (I) Upon the occurrence and during the continuance of an Event of Default, Transferee may (in accordance with the terms of and at the times specified in the Indenture and/or the applicable Intercreditor Agreements) Secured Party may, from time to the extent permitted under applicable lawtime, exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured party under the Uniform Commercial Code at the time of an event of default, and the Secured Party may also in its sole discretion, without notice except as specified below, sell the Pledged Collateral or any part thereof in one or more parcels at public or private salesale , at any exchange, broker's board or at any of Transfereethe Secured Party's offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as Transferee the Secured Party may deem commercially reasonable. Transferee The Secured Party may bid for and be the purchaser of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold at such sale, to deliver use and apply any outstanding Note or any other note evidencing of the Additional Secured Indebtedness (each, an "Additional Note") or claims for interest thereon in lieu of cash, which Note, Additional Note or claims for interest thereon shall be applied Obligations owed to the payment of such purchase price. In the event that the amount payable in respect Person as a credit on account of the purchase price of the any Pledged Collateral purchased payable by such Person at any such sale shall be less than the amount due on such Note or such Additional Note, such Note or such Additional Note shall be returned to the Transferee after being appropriately stamped to show partial paymentsale. Each purchaser at any such sale shall acquire the property sold absolutely free from any claim or right on the part of each Transferor, Debtor and each Transferor Debtor hereby waives, to the fullest extent permitted by law, all rights of redemption, stay or appraisal hereafter enacted. Transferee The Secured Party shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. Transferee The Secured Party may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Transferor Debtor hereby waives, to the fullest extent permitted by law, any claims against Transferee the Secured Party arising by reason of the fact that the price at which any Pledged Collateral may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if Transferee the Secured Party accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. Each Transferor . (II) Debtor agrees that, to the extent notice of sale shall be required by law, five (5) 10 days' notice from Transferee Secured Party of the time and place of any public sale or of the time after which a private sale or other intended disposition is to take place shall be commercially reasonable notification of such matters. No notification need be given to each Transferor Debtor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition. In addition to the rights and remedies provided in this Agreement and in the Note, Secured Party shall have all the rights and remedies of a secured party under the Uniform Commercial Code.