Common use of Exchange of Assets Clause in Contracts

Exchange of Assets. 2.5.1. For and in consideration of the conveyance of the STC Assets to HAT and in addition to the assumption of Liabilities by HAT as set forth in Section 2.10, at the Closing HAT agrees to (a) transfer to STC Broadcasting the HAT Non-License Assets and transfer to STC License Company the HAT License Assets, as provided for in Section 2.2, and (b) pay to STC by wire transfer of immediately available funds to an account designated by STC the amount of Twenty-One Million Three Hundred Sixty-Six Thousand Six Hundred and Fifty Dollars ($21,366,650) (the "Cash Consideration"), less (i) any Burlington Financing Amount which is not repaid by STCBV Sub as of the Closing Date, and (ii) plus any adjustments, if any, with respect to the ABC Affiliation Agreement as described in Section 7.5. 2.5.2. For and in consideration of the conveyance of the HAT Assets to the STC Exchange Entities, the payment of the Cash Consideration to STC and in addition to the assumption of Liabilities by STC as set forth in Section 2.9, at the Closing the STC Exchange Entities agree to transfer to HAT the STC Assets as provided for in Section 2.3.

Exchange of Assets. 2.5.1. For and in consideration of the conveyance of the STC Assets to HAT and in addition to the assumption of Liabilities by HAT as set forth in Section 2.10, at the Closing HAT agrees to (a) transfer to STC Broadcasting the ------------ HAT Non-License Assets and transfer to STC License Company the HAT License Assets, as provided for in Section 2.2, and (b) pay to STC by wire transfer of ----------- immediately available funds to an account designated by STC the amount of Twenty-One Million Three Hundred Sixty-Six Thousand Six Hundred and Fifty Dollars ($21,366,650) (the "Cash Consideration"), less (i) any Burlington ---- Financing Amount which is not repaid by STCBV Sub as of the Closing Date, and (ii) plus any adjustments, if any, with respect to the ABC Affiliation Agreement ---- as described in Section 7.5.. ----------- 2.5.2. For and in consideration of the conveyance of the HAT Assets to the STC Exchange Entities, the payment of the Cash Consideration to STC and in addition to the assumption of Liabilities by STC as set forth in Section 2.9, ----------- at the Closing the STC Exchange Entities agree to transfer to HAT the STC Assets as provided for in Section 2.3.. -----------