Company: LBRDK
Filing Date: 2025-01-22
Form Type: DEFM14A
Source: 0001140361-25-001609
Chunk: 274

Company: Liberty Broadband Corp
Filing Date: 2025-01-22
Form: DEFM14A
Chunk 274
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 the GCI business; |

| • | reasonably consult and reasonably cooperate with Charter throughout the planning process with respect to the structure and any internal restructuring steps necessary, appropriate or advisable (as reasonably determined by Liberty Broadband) to effect the GCI divestiture, and provide Charter a reasonable opportunity to review and comment on any step plan structuring the sequence of the GCI divestiture and any such internal restructuring steps; |

| • | cause GCI spinco to file a registration statement on Form 10 (or such other registration statement under the Exchange Act or the Securities Act) with the SEC to effect the registration of shares of such entity pursuant to the Exchange Act at such time as Liberty Broadband shall reasonably determine in order to consummate the GCI divestiture prior to the effective time; |

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| • | make all required filings with the United States Federal Communications Commission and state commissions in connection with the transfer of control and/or assignment of the communication licenses held by GCI or its subsidiaries, at such time as Liberty Broadband shall reasonably determine in order to consummate the GCI divestiture prior to the effective time; |

| • | upon consummation of the GCI divestiture, ensure that none of Liberty Broadband or any of its non-GCI subsidiaries have any indebtedness or other liability in respect of any GCI debt, or any encumbrance on any of their respective assets or property securing any GCI debt (and, under certain circumstances, deliver customary payoff letters, guarantee releases, lien terminations, releases and instruments and acknowledgements of discharge, as applicable, in each case in form and substance reasonably satisfactory to Charter); and |

| • | except for certain intercompany transactions in the ordinary course of business consistent with past practice, it and its subsidiaries will conduct the GCI business solely in GCI spinco, GCI and their respective subsidiaries until the earlier of the effective time and the consummation of the GCI divestiture. |

Liberty Broadband may make reasonable adjustments to its equity awards outstanding at the time of a GCI divestiture (which adjustments may vary by award type and award holder) in order to preserve the value of such awards as of immediately prior to and immediately following the GCI divestiture, as determined by the Liberty Broadband Board (or an authorized committee thereof) in consultation with Charter, in accordance with the adjustment provisions of the applicable Liberty Broadband benefit plan under which the equity award was issued and which