Post-Exchange Date Sample Clauses
Post-Exchange Date. After the Exchange Date, subject to the FCC Ownership Conditions, the Company shall issue Class A Common Stock upon exercise of Warrants by a Holder; provided, that (i) the Company shall issue Class B Common Stock if the exercising Holder has made a Class B Election, (ii) the Company may issue Class B Common Stock in lieu of Class A Common Stock to the extent necessary to comply with the FCC Ownership Conditions, (iii) the number of Warrants permitted to be exercised for Class A Common Stock or Class B Common Stock may be limited, as applicable, to the extent necessary to comply with the FCC Ownership Conditions and (iv) the Company shall issue up to 4.99 percent (or, if consistent with the 4.99 Percent Rule, up to 19.99 percent) of the outstanding Class A Common Stock to an exercising Holder and such exercising Holder shall retain its remaining Warrants if the exercising Holder has elected the Class A Common Stock and Warrant Election on its Exercise Form.
Post-Exchange Date. After the Exchange Date, the Company shall issue Class A Common Stock upon exercise of Series 1 Warrants by a Holder; provided, that (i) the Company shall issue Class B Common Stock if the exercising Holder has elected to receive Class B Common Stock on its Exercise Form by checking the Class B Common Stock Only Election box, (ii) the Company may issue Class B Common Stock in lieu of Class A Common Stock if, in the Company’s sole and absolute discretion, which shall be final, conclusive and binding, the issuance of Class B Common Stock in lieu of Class A Common Stock is necessary to comply with the Act, FCC Rules or FCC Restrictions, including Section 310(d) of the Act, the FCC’s broadcast attribution rules, rules regarding transfers of control or the 4.99% Rule, (iii) the Company shall issue up to 4.99% of the outstanding Class A Common Stock to an exercising Holder and such exercising Holder shall retain its remaining Series 1 Warrants if the exercising Holder has elected the Class A Common Stock and Warrant Election on its Exercise Form, and (iv) the Company shall deliver or cause to be delivered any shares of Common Stock issued upon exercise of Warrants by a Term Loan Holder in the form of Restricted Stock if such Holder has so elected on its Exercise Form.