FCC Condition Sample Clauses
The FCC Condition clause establishes that the completion of a transaction is contingent upon receiving approval or clearance from the Federal Communications Commission (FCC). In practice, this means that parties cannot finalize the deal until all necessary FCC consents, licenses, or regulatory approvals have been obtained, which is particularly relevant in transactions involving telecommunications assets or services. The core function of this clause is to ensure legal compliance and prevent the transaction from proceeding if regulatory requirements are not met, thereby protecting both parties from potential legal or operational risks.
FCC Condition. 4.1.1 The Parties shall use all commercially reasonable endeavours to satisfy the FCC Condition promptly following the date of this Agreement as follows:
(i) as soon as reasonably practicable and, in any event, within five (5) Business Days of the date of this Agreement, the Subscriber shall prepare and submit to the Company a draft form completed by the Subscriber in respect of the FCC ▇▇▇▇▇▇ ▇▇▇▇▇▇;
(ii) the Company shall provide its reasonable comments on the draft form as soon as reasonably practicable (and, in any event, within five (5) Business Days of receipt of the same); and
(iii) as soon as reasonably practicable and, in any event, within ten (10) Business Days of receipt of the Company’s reasonable comments, the Subscriber shall finalise and submit the FCC Merger Filing.
4.1.2 In respect of the FCC Merger Filing to be made pursuant to Clause 4.1.1, each Party shall:
(i) deliver as soon as reasonably practicable to the other Party copies of all material correspondence with the FCC;
(ii) discuss with the other Party any clarifications and/or subsequent submissions requested by the FCC and give the other Party reasonable opportunity to comment on such clarifications and/or subsequent submissions; and
(iii) deliver as soon as reasonably practicable to the other Party a copy of any certificate, notice or similar document provided by the FCC in relation to the FCC Merger Filing.
FCC Condition. 5.2.1 The Company and the Optionholder shall use all commercially reasonable endeavours to satisfy the FCC Condition promptly following the date of this Agreement as follows:
(i) as soon as reasonably practicable and, in any event, within seven (7) Business Days of the date of this Agreement, the Optionholder shall prepare and submit to the Company a draft form completed by the Optionholder in respect of the FCC Merger Filing;
(ii) the Company shall provide its reasonable comments on the draft form as soon as reasonably practicable (and, in any event, within seven (7) Business Days of receipt of the same); and
(iii) as soon as reasonably practicable and, in any event, within seven (7) Business Days of receipt of the Company’s reasonable comments, the Optionholder shall finalise and submit the FCC Merger Filing, and, provided further that if, following delivery of an Option Exercise Notice, FCC Approval has not previously been obtained or does not remain in full force and effect at all times prior to Closing, then the Company and the Optionholder shall re-comply with the provisions of this Clause 5.2.1 mutatis mutandis as if references to the date of this Agreement were references to the date of delivery of an Option Exercise Notice.
5.2.2 In respect of any FCC Merger Filing, each party shall:
(i) deliver as soon as reasonably practicable to the other parties copies of all material correspondence with the FCC;
(ii) discuss with the other parties any clarifications and/or subsequent submissions requested by the FCC and give the other parties reasonable opportunity to comment on such clarifications and/or subsequent submissions; and
(iii) deliver as soon as reasonably practicable to the other parties a copy of any certificate, notice or similar document provided by the FCC in relation to the FCC Merger Filing.
FCC Condition