The Stations. (a) Each of the Companies and the Stations is in compliance with all applicable federal, state and local laws, rules and regulations, including without limitation, the Telecommunications Act of 1996, the Communications Act of 1934, as amended, and the rules and policies of the FCC and all rules and laws governing equal employment opportunity, except to the extent that the failure to so comply could not (either individually or in the aggregate) reasonably be expected to have a Material Adverse Effect. Without limiting the generality of the foregoing (except to the extent that the failure to comply with any of the following could not, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect):
The Stations. (a) Each of the Obligors and the Stations is in compliance, in all material respects, with all applicable federal, state and local laws, published rules and regulations, and published policies of any Governmental Authority having jurisdiction over such Obligor, including, without limitation, the Children's Television Act of 1990, Telecommunications Act of 1996, the Communications Act of 1934, as amended, and the published rules and policies of the FCC and all rules and laws governing equal employment opportunity. Without limiting the generality of the foregoing:
The Stations. Schedule 4.07 hereto accurately and completely lists (a) all material authorizations, licenses, permits and franchises granted or assigned to the respective Borrowers by the FCC or any other public or governmental agency or regulatory body and now held by the respective Borrowers, including all material authorizations, licenses, permits and franchises, for the operation of the Stations including all associated boosters and translators identified on Schedule 4.07, and (b) all material authorizations, licenses, permits, franchises and construction permits granted or assigned to Borrowers by the FCC, and the same constitute the only material licenses, permits or franchises or other authorizations of any public or governmental agency or regulatory body required or advisable in connection with the conduct by each Borrower of its business as presently conducted or proposed to be conducted. All existing Licenses are in full force and effect, are duly issued in the name of, or validly assigned to, the Borrowers as identified on Schedule 4.07, and each Borrower has full power and authority to operate thereunder and in full material compliance therewith. The Licenses (or true copies thereof) are posted at the Stations in accordance with Section 73.1230 of the FCC Rules. Such Schedule also specifies the expiration date of each existing License. Except as set forth on Schedule 4.07, there are no pending applications, requests for special temporary authority, requests for extension of time, replies to complaints or other unresolved filings with the FCC submitted by any Borrower, nor is there pending (or, to Borrowers’ knowledge, threatened) any action by or before the FCC to revoke, cancel, rescind, modify or refuse to renew in the ordinary course, any of the Licenses. Borrowers shall supplement Schedule 4.07 from time to time with a list of all material Licenses issued to the Borrowers with respect to all television broadcast stations acquired and other Permitted Acquisitions consummated after the date hereof.
