Station Value definition

Station Value means, as of any Station Value Coverage Ratio Determination Date, an amount, as calculated in good faith by the principal financial officer of the Company and as set forth in reasonable detail in an Officers’ Certificate delivered to the Trustee, equal to (x) the aggregate Fair Market Value, as set forth in the most recently delivered Station Appraisal (or, if no Station Appraisal has been delivered pursuant to Section 4.20, the aggregate value of Owned Television Stations set forth in Table 2 of the “Fair Market Valuation of ▇▇▇▇▇▇ Communications Corporation’s owned or operated television stations as of December 1, 2005” prepared by BIA Financial Network, Inc.), of Owned Television Stations plus (y) the Fair Market Value of any property constituting, or used in the operation of, an Owned Television Station that has been acquired by the Company or the Restricted Subsidiaries following the date of such Station Appraisal, but only to the extent that (i) such property has, to the extent required by the Security Agreement, been made subject to the Lien of the Security Documents and (ii) the Trustee has received from an Independent Appraiser a report as to the Fair Market Value thereof, less (z) any reduction in the aggregate Fair Market Value of Owned Television Stations as set forth in the most recently delivered Station Appraisal (or, if no Station Appraisal has been delivered pursuant to Section 4.20 the aggregate value of Owned Television Stations set forth in Table 2 of the “Fair Market Valuation of ▇▇▇▇▇▇ Communications Corporation’s owned or operated television stations as of December 1, 2005” prepared by BIA Financial Network, Inc.) occurring following the date of such Station Appraisal as a result of any Asset Sale or Event of Loss.

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Station Value shall be the aggregate value of all Owned Television Stations (adjusted to reflect any relevant Asset Sale) as shown in the most recent Station Appraisal for such Stations (including any Stations acquired after the Closing Date, provided that the Borrower has submitted a Station Appraisal in respect of such Owned Television Station to the Administrative Agent, but excluding stations the sale of which are Pre-Approved Station Sales.

Station Value means, as of any Station Value Coverage Ratio Determination Date, an amount, as calculated in good faith by the principal financial officer of the Company and as set forth in reasonable detail in an Officers' Certificate delivered to the Trustee, equal to (x) the aggregate Fair Market Value, as set forth in the most recently delivered Station Appraisal (or, if no Station Appraisal has been delivered pursuant to Section 4.20, the values of Owned Television Stations set forth in Table 2 of the "Strategic Valuation of Paxson Communications Corporation as of April 1, 2003" prepared by ▇▇▇ ▇inancial Network, Inc.), of Owned Television Stations plus (y) the Fair Market Value of any property constituting, or used in the operation of, an Owned Television Station that has been acquired by the Company or the Restricted Subsidiaries following the date of such Station Appraisal, but only to the extent that (i) such property has, to the extent required by the Security Agreement, been made subject to the Lien of the Security Documents and (ii) the Trustee has received from an Independent Appraiser a report as to the Fair Market Value thereof, less (z) any reduction in the aggregate Fair Market Value of Owned Television Stations as set forth in the most recently delivered Station Appraisal occurring following the date of such Station Appraisal as a result of any Asset Sale or Event of Loss.

Examples of Station Value in a sentence

Offer to Purchase in Connection with Station Value Coverage Ratio.
Designation of Net Available Cash from an Asset Sale as Available Basket Proceeds upon Satisfaction of Station Value Coverage Requirements.
Without the consent of Holders of Notes and holders of First Priority Term Loans, acting as a single class and representing more than 75% in aggregate principal amount of the Notes and First Priority Term Loans then outstanding, no amendment may reduce for any purpose under this Indenture any required level for the Station Value Coverage Ratio.
A portion of the purchase price payable hereunder equal to the Aggregate Station Value allocated to the Acquired Assets associated with the operation of Station KPLS(AM) shall be paid into escrow to be disbursed in accordance with an escrow agreement in the form attached hereto as EXHIBIT C (the "Closing Escrow Agreement").
Without the consent of Holders of at least 75% in aggregate principal amount of the Notes then outstanding, no amendment may reduce for any purpose under this Indenture any required level for the Station Value Coverage Ratio or the Restricted License Subsidiary Coverage Ratio.
Without the consent of Lenders and Holders of First Priority Notes, acting as a single class and representing more than 75% in aggregate principal amount of the Loans and First Priority Notes then outstanding, no amendment may reduce for any purpose under this Agreement any required level for the Station Value Coverage Ratio.
The Borrower shall deliver an Officers’ Certificate to the Administrative Agent on each January 15, April 15, July 15 and October 15, commencing April 15, 2006, setting forth a calculation of the Station Value Coverage Ratio as of the last day of the immediately preceding fiscal quarter (each such day being referred to as a “Test Date”) and if and to the extent required by Section 2.05(b), the Borrower shall make a Coverage Ratio Prepayment Offer.
Thereafter, ▇▇▇▇▇▇ shall promptly deliver to Berkshire Hathaway copies of any other preliminary or final reports regarding the Specified Station Value prepared by such third-party service provider and shall promptly provide written notice to Berkshire Hathaway of any potential reduction in the intended Specified Station Value.
Designation of Net Available Cash from an Asset Sale as Available Basket Proceeds upon Satisfaction of Station Value Coverage Requirements.......................58 Section 4.23.
Cash from an Asset Sale as Available Basket Proceeds upon Satisfaction of Station Value Coverage Requirements.