Common use of Timing of Disposition Clause in Contracts

Timing of Disposition. If FT and DT fail to exercise the rights described in Sections 3.1(c) and (d), the Company may proceed to Transfer the Specified Long Distance Assets, provided that it enters into a legally binding agreement, subject to standard terms and conditions for a purchase contract for assets of the type to be Transferred, to Transfer the Specified Long Distance Assets upon terms no less favorable to the Company than those described in the LD Sale Notice delivered pursuant to Section 3.1 within 150 days after the end of the LD Option Period. If the Company does not obtain such a binding agreement within such time (or if it abandons such Transfer pursuant to Section 3.2), the Company may not engage in a transaction involving substantially identical Long Distance Assets for one year from the date of the LD Sale Notice. Any such subsequent transaction within a Restricted Period shall be subject to this Article III.

Timing of Disposition. If FT and DT fail to exercise the --------------------- rights described in Sections 3.1(c) and (d), the Company may proceed to Transfer the Specified Long Distance Assets, provided that it enters into a legally -------- binding agreement, subject to standard terms and conditions for a purchase contract for assets of the type to be Transferred, to Transfer the Specified Long Distance Assets upon terms no less favorable to the Company than those described in the LD Sale Notice delivered pursuant to Section 3.1 within 150 days after the end of the LD Option Period. If the Company does not obtain such a binding agreement within such time (or if it abandons such Transfer pursuant to Section 3.2), the Company may not engage in a transaction involving substantially identical Long Distance Assets for one year from the date of the LD Sale Notice. Any such subsequent transaction within a Restricted Period shall be subject to this Article III.