Common use of FCC Applications Clause in Contracts

FCC Applications. The initial FCC applications to be filed pursuant to the Merger Agreement will be long form applications requesting FCC consent to transfer control of the Company to Purchaser with ML Investors having the right to appoint three designees to the Board of Purchaser and LD having the right to appoint two designees to the Board of Purchaser. It is contemplated that, upon assumption by NP of a portion of the ML Investor’s Commitment that is equal to the NP Target Amount or upon NP funding the NP Target Amount, the initial FCC applications will be amended or that short form FCC applications will be filed to seek FCC approval for a Board of Purchaser with ML Investor and NP each having the right to appoint two designees to the Board.