Company: LBRDK
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001140361-25-000778
Chunk: 243

Company: Liberty Broadband Corp
Filing Date: 2025-01-10
Form: PRER14A
Chunk 243
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 subsidiaries that is expressly required by the transaction documents to which Charter or its subsidiaries is a party (other than any such obligation to operate in the ordinary course, certain actions required by the reasonable best efforts covenant in the merger agreement or any action that has been expressly consented to by Liberty Broadband); |

| • | any failure, in and of itself, in the financial or operating performance of Charter to meet published or unpublished revenue or earning projections, forecasts, expectations or budgets for any period (but events, occurrences, facts, conditions, changes, developments or effects giving rise or contributing to such failure (if not otherwise excluded by the definition) may be taken into account when determining whether a material adverse effect has occurred or would be reasonably expected to occur); or |

| • | any change, effect, event, occurrence, state of facts or development that, individually or in the aggregate, has had, or would reasonably be expected to have, a material adverse effect on the respective businesses, assets, properties, liabilities, results of operations and/or financial condition of the company of which Charter holds portfolio securities and its subsidiaries (however the underlying facts or occurrences giving rise or contributing to such material adverse effect may be taken into account when determining whether a material adverse effect has occurred (to the extent not otherwise excluded by the definition)). |

In the case of each of the first, second, third and fifth bullets above, to the extent that such changes, effects, events, occurrences, state of facts or developments affect Charter and its subsidiaries in a disproportionate manner relative to other participants in the industries in which Charter participates, only the incremental disproportionate effect may be taken into account in determining whether there has been a material adverse effect with respect to Charter. Covenants and Agreements Conduct of Business Each of Liberty Broadband and Charter has agreed to certain covenants in the merger agreement restricting the conduct of its respective businesses between the date of the merger agreement and the earlier of the effective time and the termination of the merger agreement. Conduct of Business of Liberty Broadband In general, Liberty Broadband has agreed that until the earlier of the effective time and the termination of the merger agreement in accordance with its terms, except (i) as required by applicable law, (ii) as expressly required or expressly permitted by the merger agreement or any other transaction document or as expressly required by the Liberty Broadband organizational documents in effect as of the date of the merger agreement, or any action or omission in connection with the GCI divestiture in accordance with the merger agreement, including the evaluation,