Exchange of Assets. No Obligor shall, directly or indirectly, exchange any of its assets except as permitted by Section 6.5, and so long as no Default or Event of Default would exist before or after giving effect thereto, other than: (i) KRLD-AM and the Texas State Networks in Dallas, Texas for KKRW-FM in Houston, Texas; (ii) WBAB-FM, WHFM-FM, WBLI-FM and WGBB-AM in Long Island for stations WFYW-FM and WAPE-FM in Jacksonville, Florida; (iii) KTXQ-FM and KRRW-FM in Dallas, Texas for station WHFS-FM serving Washington DC/Baltimore, Maryland; and (iv) WDSY-FM in Pittsburgh, Pennsylvania and $20 million cash for WRFX-FM located in Kannapolis, North Carolina and serving the Charlotte, North Carolina market; and (v) other assets provided that: (1) the BCF attributable to all radio broadcast stations sold and/or exchanged during the one-year period ending on the date of the proposed exchange shall not exceed 15% of the BCF of the Borrower; (2) the BCF attributable to all radio broadcast stations sold and/or exchanged since the date of this Agreement, after giving effect to the proposed exchange, shall not exceed 25% of the BCF of the Borrower; (3) fair value is received by any of the Obligors; and (4) at least 75% of the consideration to be received by any of the Obligors is in the form of a radio broadcast station or other assets used in the broadcast of radio programming and/or cash or cash equivalents. (B) the assets received by any of the Obligors pursuant to such exchanges qualify as a Permitted Acquisition. In that the Credit Agreement does not provide for investments in Subsidiaries organized in connection with an Exchange of Assets, we hereby request that you consent to the amendment of the Credit Agreement by deleting in its entirety the definition of "Permitted
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Exchange of Assets. No Obligor shall, directly or indirectly, exchange any of its assets except as permitted by Section 6.5, and so long as no Default or Event of Default would exist before or after giving effect thereto, other than:
(i) KRLD-AM and the Texas State Networks in Dallas, Texas for KKRW-FM in Houston, Texas;
(ii) WBAB-FM, WHFM-FM, WBLI-FM and WGBB-WGBB- AM in Long Island for stations WFYW-FM and WAPE-FM in Jacksonville, Florida;
(iii) KTXQ-FM and KRRW-FM in Dallas, Texas for station WHFS-FM serving Washington DC/Baltimore, Maryland; and
(iv) WDSY-FM in Pittsburgh, Pennsylvania and $20 million cash for WRFX-FM located in Kannapolis, North Carolina and serving the Charlotte, North Carolina market; and
(v) other assets provided that:
(1) the BCF attributable to all radio broadcast stations sold and/or exchanged during the one-year period ending on the date of the proposed exchange shall not exceed 15% of the BCF of the Borrower;
(2) the BCF attributable to all radio broadcast stations sold and/or exchanged since the date of this Agreement, after giving effect to the proposed exchange, shall not exceed 25% of the BCF of the Borrower;
(3) fair value is received by any of the Obligors; and
(4) at least 75% of the consideration to be received by any of the Obligors is in the form of a radio broadcast station or other assets used in the broadcast of radio programming and/or cash or cash equivalents.
(B) the assets received by any of the Obligors pursuant to such exchanges qualify as a Permitted Acquisition. In that the Credit Agreement does not provide for investments in Subsidiaries organized in connection with an Exchange of Assets, we hereby request that you consent to the amendment of the Credit Agreement by deleting in its entirety the definition of ."Permitted
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