Common use of Exchange generally Clause in Contracts

Exchange generally. If all or any portion of the Principal Amount or the Interest Amount is not paid in full on or prior to the earlier to occur of the date of the occurrence of an Event of Default and the Maturity Date (the "Exchange Date"), then on the Exchange Date the Total Amount of this Note will be automatically exchanged for fully paid and nonassessable Class _____ Interests of Nexstar Broadcasting Group ("Class ______ Interests"), calculated to the nearest 1/1000 of a Class ______ Interest, unless on the Exchange Date all Senior Debt has been indefeasibly paid in full in cash and all commitments to provide Senior Debt have expired or been terminated. The number of Class ______ Interests issuable upon any such exchange shall be equal to the Total Amount as of the close of business on the Maturity Date divided by $_________.

Exchange generally. If all or any portion of the Principal Amount or the Interest Amount is not paid in full on or prior to the earlier to occur of the date of the occurrence of an Event of Default and the or Maturity Date (the "Exchange Date"), then on the Exchange Maturity Date the Total Amount of this Note will be automatically exchanged for fully paid and nonassessable Class _____ Interests of Nexstar Broadcasting Group ("Class ______ Interests"), calculated to the nearest 1/1000 of a Class ______ Interest, unless on the Exchange Date all Senior Debt has been indefeasibly paid in full in cash and all commitments to provide Senior Debt have expired or been terminated. The number of Class ______ Interests issuable upon any such exchange shall be equal to the Total Amount as of the close of business on the Maturity Exchange Date divided by $__________.