Company: LBRDK
Filing Date: 2025-01-22
Form Type: DEFM14A
Source: 0001140361-25-001609
Chunk: 273

Company: Liberty Broadband Corp
Filing Date: 2025-01-22
Form: DEFM14A
Chunk 273
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 to the effective time (with the exact timing prior to the effective time to be determined by Liberty Broadband (and Liberty Broadband is required to keep Charter reasonably apprised of such timing)), it will, and will cause its subsidiaries, to divest the business of GCI or such other subsidiary of Liberty Broadband determined to be the publicly traded parent company with respect to the GCI business following the closing of the GCI divestiture (“ GCI spinco”), GCI and their respective subsidiaries (the “ GCI business”), by way of a dividend to holders of shares of Liberty Broadband common stock (unless Charter, acting at the direction of the Charter special committee, consents to different terms) in accordance with the principles set forth in the confidential disclosure letter provided by Liberty Broadband to Charter in connection with the merger agreement (the “ GCI separation principles”) and otherwise on terms mutually acceptable to Charter and Liberty Broadband, with each acting reasonably (the “ GCI divestiture”). Liberty Broadband and its subsidiaries will take such actions and engage in such conduct as Liberty Broadband reasonably determines are necessary, advisable or appropriate that are not inconsistent with the merger agreement or the separation principles to pursue, negotiate, discuss, enter into, announce, perform and consummate a GCI divestiture. The GCI separation principles set forth, among other things, the allocation of GCI assets and liabilities, tax matters and certain timing and coordination requirements. Liberty Broadband has agreed that it will, among other things:

| • | keep Charter reasonably informed of all material preparations relating to, and the status of, the GCI divestiture; |

| • | give Charter and its representatives reasonable time and an opportunity to review and comment upon any proposed terms of, or contract relating to, the GCI divestiture, or any filings with governmental authorities relating thereto; |

| • | not enter into, amend, modify or terminate or cancel any contract inconsistent with the provisions in the merger agreement relating to the GCI divestiture or the GCI separation principles without the prior written consent of Charter (not to be unreasonably withheld, conditioned or delayed); |

| • | in respect of any contract relating to the GCI divestiture, not agree to any non-compete, non-solicitation or other restrictive covenant that would or would reasonably expected to bind or restrict, or give the counterparty rights in respect of, the conduct of the business of Charter and its subsidiaries greater than the scope of the existing operations of