Content Transaction. (a) Notwithstanding any other provisions of this Agreement, no Content Transaction shall be restricted by (nor deemed to constitute a utilization of any of the permitted exceptions to) any provision of this Agreement, neither shall the implementation of any Content Transaction constitute a breach of any provision of any Loan Document, provided that: (i) the cash proceeds of any Content Transaction are applied in accordance with Section 2.05(b)(ii); (ii) after giving pro forma effect for such Content Transaction, the Bank Group continue to be in compliance with the Financial Covenants; and (iii) at the time of completion of such Content Transaction, no Event of Default has occurred and is continuing and no Event of Default would occur as a result of such Content Transaction. (b) Any Joint Venture established pursuant to a Content Transaction shall thereafter not be subject to any restrictions under this Agreement. ARTICLE VIII.
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Content Transaction. (a) Notwithstanding any other provisions of this Agreement, no Content Transaction shall be restricted by (nor deemed to constitute a utilization of any of the permitted exceptions to) any provision of this Agreement, neither shall the implementation of any Content Transaction constitute a breach of any provision of any Loan Document, provided that:
(i) the cash proceeds of any Content Transaction are applied in accordance with Section 2.05(b)(ii);
(ii) after giving pro forma effect for such Content Transaction, the Bank Group continue to be in compliance with the Financial Covenants; and
(iii) at the time of completion of such Content Transaction, no Event of Default has occurred and is continuing and no Event of Default would occur as a result of such Content Transaction.
(b) Any Joint Venture established pursuant to a Content Transaction shall thereafter not be subject to any restrictions under this Agreement. ARTICLE VIII.
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