BUYER'S PUT RIGHT. (a) In the event that: (i) (A) one or more of the representations and warranties set forth in Section III is breached, (B) Buyer notifies Seller thereof within the Post Closing Conditions Period, and (C) the aggregate reasonably foreseeable damages which Buyer could incur resulting therefrom could be expected to exceed $250,000.00 (either singly or in the aggregate for all such breaches), and (D) Seller fails to cure such breaches by the expiration of the Post-Closing Conditions Period; or (ii) Seller does not satisfy all of the Post-Closing Conditions set forth in Section V hereof by the expiration of the Post-Closing Conditions Period, then, at Buyer's option, Seller shall be obligated to repurchase the Property from Buyer (the "REPURCHASE") on the terms and conditions set forth below. Buyer shall provide written notice to Seller of its election to either require the Seller to consummate the Repurchase (the "REPURCHASE NOTICE") within five (5) business days after the expiration of the Post-Closing Conditions Period. The closing of such repurchase shall occur not later than fifteen (15) days after the date that the Repurchase Notice is delivered to Seller.
BUYER'S PUT RIGHT. If at any time after the Closing (a) Buyer shall determine in its sole reasonable discretion that the ownership of the Conveyed Assets or the operation of the Station proves detrimental for regulatory reasons (including, without limitation, a rule, regulation, or order of the FCC requiring Buyer to divest or transfer the Conveyed Assets) or business reasons and (b) the ownership/operation of the Station by Seller (or one of its affiliates) would not be prohibited by FCC rules or regulations, Buyer shall be entitled to provide written notice (the "PUT NOTICE") of its election to sell the Conveyed Assets to Seller (or Seller's designee) in consideration for the Put/Call Amount. The Put Notice shall constitute an irrevocable offer to sell the Conveyed Assets to Seller (or Seller's designee), and upon receipt of the Put Notice, Seller shall be irrevocably obligated to purchase (or have Seller's designee purchase) the Conveyed Assets from Buyer in consideration for the Put/Call Amount, subject to receipt of all required regulatory approvals, including the consent of the FCC to transfer the FCC License from Buyer to Seller (or Seller's designee). The closing of the sale of the Conveyed Assets pursuant to this SECTION 1.9 shall occur within a reasonable time following the date upon which all such required regulatory approvals are obtained and Seller shall assist Buyer in obtaining such required regulatory approvals.
BUYER'S PUT RIGHT. (a) The Member hereby grants to the Buyer an irrevocable put right (the "Put Right") for all of the Buyer's right, title and interest under the DOCAM Note, including any right, title and interest to the security therefor (the "Note Security") and guaranty thereof (the "Note Guaranty"), each as disclosed in Section 2.12(a) of the Disclosure Schedule. In the event of a payment default under the DOCAM Note (such defaulted note referred to herein to as a "Defaulted Note") during the Put Period (as defined below), the Buyer shall have the right to sell such Defaulted Note to the Member at the Put Price (as defined below).
