Common use of Special Purpose Entities Clause in Contracts

Special Purpose Entities. The Parent Guarantors engage in no business activities (other than as contemplated by this Agreement), and have (a) no significant assets other than debt and equity securities of their respective Subsidiaries or (b) liabilities other than (i) those liabilities permitted under this Agreement and the other Loan Documents to which they are each respectively a party, (ii) the Management Loan Guaranty, (iii) the Nexstar Guaranty of Mission Obligations, (iv) the Management Agreement, (v) the Holdings Subordinated Convertible Promissory Notes, (vi) the Parent Subordinated Convertible Promissory Notes and (vii) liabilities for the payment of taxes.

Special Purpose Entities. The Parent Guarantors engage in no ------------------------ business activities (other than as contemplated by this Agreement), and have (a) no significant assets other than debt and equity securities of their respective Subsidiaries or (b) liabilities other than (i) those liabilities permitted under this Agreement and the other Loan Documents to which they are each respectively a party, (ii) the Management Loan Guaranty, (iii) the Nexstar Guaranty of Bastet/Mission Obligations, (iv) the Management Agreement, (v) the Holdings Subordinated Convertible Promissory Notes, Notes (vi) the Parent Subordinated Convertible Promissory Notes and (vii) liabilities for the payment of taxes.

Special Purpose Entities. The Parent Guarantors engage in no business activities (other than as contemplated by this Agreement), and have (a) no significant assets other than debt and equity securities of their respective Subsidiaries or (b) liabilities other than (i) those liabilities permitted under this Agreement and the other Loan Documents to which they are each respectively a party, (ii) the Management Loan Guaranty, (iii) the Nexstar Guaranty of Bastet/Mission Obligations, (iv) the Management Agreement, (v) the Holdings Subordinated Convertible Promissory Notes, Notes (vi) the Parent Subordinated Convertible Promissory Notes and (vii) liabilities for the payment of taxes.