Option for Successor Satellite Company Sample Clauses

Option for Successor Satellite Company. If, pursuant to Section 25 of -------------------------------------- the IFE/GE Agreement, IFE enters into an agreement with GE for the purchase or lease of one or more transponders on a Successor Satellite (the "IFE/GE Successor Agreement"), Fox shall have the option to lease from IFE a pro rata portion of such transponder on the Successor Satellite (the "Option"), reflecting the current ratio between the Transponder Capacity and the total transponder capacity available to IFE on the Satellite. Within thirty (30) days after the initialization of the negotiation of the IFE/GE Successor Agreement, IFE shall provide Fox with written notice of such negotiation, and Fox shall have up to 180 days after the execution of the IFE/GE Successor Agreement to exercise the Option, in which event the Parties shall negotiate in good faith an agreement for the lease by Fox of the applicable capacity on the Successor Satellite (the "Fox/IFE Successor Agreement") on substantially the same terms and conditions as the IFE/GE Successor Agreement, including, without limitation (a) the granting to Fox of rights, remedies and obligations vis-a-vis IFE that are no more or less favorable than the rights, remedies and obligations of IFE vis-a-vis GE; and (b) a monthly payment to be made by Fox to IFE that does not exceed a pro rata portion of the total payment made or to be made by IFE to GE for the transponder capacity leased or purchased by IFE on the Successor Satellite, reflecting the ratio between the transponder capacity leased or purchased by Fox and the total transponder capacity available to IFE on the Successor Satellite. Neither party shall have any further obligation with respect to the Fox/IFE Successor Agreement in the event that IFE does not enter into the IFE/GE Successor Agreement, provided, however, that, if IFE chooses not -------- ------- to negotiate, or does not enter into, the IFE/GE Successor Agreement, it shall assign to Fox the right to enter into similar negotiations with GE on Fox's own behalf, to the extent permissible under the HWGE Agreement.
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