LER Agreement definition
Examples of LER Agreement in a sentence
Section 3.2 is amended by deleting the penultimate sentence thereof and replacing the text thereof in its entirety with the following three sentences: “Seller and Buyer confirm that Buyer is not assuming the Primary Studio Lease or the LER Agreement or any obligation thereunder, which, for the avoidance of doubt, shall constitute Excluded Liabilities.
Other than the LER Agreement, there are no Contracts related to, or otherwise used in, the operation of the Stations to which an Affiliate of Seller rather than Seller is a party.
Assuming that Buyer does not terminate the LER Agreement, the LER Agreement will not be binding upon any station owned by Buyer or its Affiliates other than KTCY-FM and KZMP-FM.
Without limiting the generality of the foregoing, Seller shall be responsible for any obligation to pay the Buyout Amount and shall take all actions as are required so that the LER Agreement is terminated with respect to the Stations on account of their being Terminated Stations (as defined in the LER Agreement).
Other than the LER Agreement, there are no Contracts between Seller, on the one hand, and any Affiliate of Seller, on the other hand, related to the Stations.