License Subsidiary. At any date, each Subsidiary of the Borrower, each C- ------------------ Block Subsidiary and each D-, E- and F-Block Subsidiary that holds an FCC License for a Permitted BTA, other than any C-Block Subsidiary or D-, E- and F- Block Subsidiary the pledge of the shares of Stock of which shall have been released pursuant to the applicable Security Agreement.
License Subsidiary. 11 Lien ....................................................... 11
License Subsidiary. 40 5.13 Interest Rate Protection................................................. 40 5.14
License Subsidiary. The Borrower will cause each Media License to be ------------------ transferred to the LCG License Subsidiary by May 31, 2000 and to be held by the LCG License Subsidiary at all times thereafter until the Obligations have been paid in full and all Commitments have expired. The Borrower will not permit the LCG License Subsidiary to (i) own any right, franchise or other asset except for Media Licenses (and FCC files and records with respect thereto) or (ii) engage in any business other than holding such Media License, files and records.
License Subsidiary. The wholly owned subsidiary of the Borrower to be ------------------ organized pursuant to the terms and provisions of Section 6.16.
License Subsidiary. 67 8.17 Intelsat General Corporation.....................................68
License Subsidiary. The Borrower shall create or designate one or more License Subsidiaries and pledge 100% of the Equity Interests of such License Subsidiaries to the Collateral Agent for the benefit of the Secured Creditors pursuant to the respective Security Document within 30 days following the Initial Borrowing Date. The Borrower and its Subsidiaries shall transfer to the License Subsidiary or License Subsidiaries all Subject Licenses held by the Borrower and/or such Subsidiaries as of the Initial Borrowing Date within 30 days following the receipt of all necessary approvals of Governmental Authorities (which approvals the Borrower hereby agrees to use commercially reasonable efforts to obtain as soon as practicable following the Initial Borrowing Date). Following the completion of the transfer set forth in the immediately preceding sentence, the Borrower will cause all Subject Licenses at all times to be held in the name of one or more License Subsidiaries (which shall be the sole legal and beneficial owner(s) thereof). Any license issued after the Initial Borrowing Date that constitutes a Subject License shall be held in the name of a License Subsidiary (which shall be the sole legal and beneficial owner thereof).
License Subsidiary. As soon as practicable following the Closing Date (and, in any event, within 120 days thereafter), to the extent permitted by applicable law, (a) Parent shall create one or more License Subsidiaries and pledge 100% of the Equity Interests of such License Subsidiary or Subsidiaries to the Collateral Agent pursuant to the respective Dutch Security Document and (b) Parent shall transfer to a License Subsidiary all Subject Licenses held by Parent as of the Closing Date, subject to the receipt of all necessary approvals of Governmental Authorities (which approvals Parent hereby agrees to use commercially reasonable efforts to obtain as soon as practicable following the Closing Date). Following the date referred to in the immediately preceding sentence, Parent will cause all Subject Licenses at all times (whether in existence on the Closing Date or obtained thereafter) to be held in the name of a License Subsidiary to the extent permitted by applicable law and subject to the receipt of all necessary approvals of Governmental Authorities.
License Subsidiary. At any date, each Wholly Owned Subsidiary of the ------------------ Borrower, the Omnipoint C-Block Subsidiary, the Omnipoint E-Block Subsidiary and the D&E License Subsidiary which holds an FCC License for any of the Designated BTAs, other than any Omnipoint C-Block Subsidiary, the Omnipoint E-Block Subsidiary or the D&E License Subsidiary the pledge of the shares or units of Stock of which shall have been released pursuant to the applicable Security Agreement.
License Subsidiary. The Borrower shall not, nor shall it permit any Subsidiary to, terminate, or make any amendment or modification to, any provision of, (i) subject to Sections 7(j) and 7(o), any Material Contract, (ii) any Equityholder Agreement or (iii) subject to Section 6.4 with respect to Sunset Subsidiaries, any Organic Document not referred to in the previous sentence, if such termination, amendment or modification could reasonably be expected to have a Material Adverse Effect.
