BE TAKEN PURSUANT THERETO, THEN
DURING THE CONTINUANCE OF AN EVENT OF DEFAULT THE PARENT AND THE BORROWER, AT
THEIR SOLE COST AND EXPENSE, SHALL USE THEIR COMMERCIALLY REASONABLE EFFORTS,
AND SHALL CAUSE THE RESTRICTED SUBSIDIARIES TO USE THEIR COMMERCIALLY REASONABLE
EFFORTS, TO SECURE SUCH CONSENT AND TO COOPERATE WITH THE ADMINISTRATIVE AGENT
AND THE LENDERS IN ANY ACTION COMMENCED BY THE ADMINISTRATIVE AGENT OR THE
LENDERS TO SECURE SUCH CONSENT.
NEITHER THE PARENT NOR THE BORROWER SHALL TAKE
ANY ACTION, AND THEY SHALL NOT PERMIT ANY OF THE SUBSIDIARIES TO TAKE ANY
ACTION, THAT INTERFERES WITH THE EXERCISE OR COMPLETION OF THE EFFORTS TO OBTAIN
THE CONSENT OF THE FCC AS SET FORTH ABOVE, PROVIDED THAT, NOTWITHSTANDING THE
FOREGOING, THE BORROWER, THE PARENT AND EACH OF THEIR SUBSIDIARIES SHALL AT ALL
TIMES COMPLY WITH THE COMMUNICATIONS ACT AND ALL FCC REGULATIONS.
6.14
COLLATERAL.
THE PARENT AND THE BORROWER SHALL, AND SHALL CAUSE
EACH RESTRICTED SUBSIDIARY TO, DO ALL THINGS NECESSARY OR REASONABLY REQUESTED
BY THE ADMINISTRATIVE AGENT TO PRESERVE AND PERFECT THE LIENS OF THE
ADMINISTRATIVE AGENT, FOR THE BENEFIT OF THE LENDERS, ARISING PURSUANT HERETO
AND PURSUANT TO THE PLEDGE AGREEMENTS AS FIRST LIENS, AND TO INSURE THAT THE
ADMINISTRATIVE AGENT, FOR THE BENEFIT OF THE LENDERS, HAS A PERFECTED PRIOR AND
FIRST LIEN ON ALL OF THE EQUITY INTERESTS OF THE BORROWER AND EACH OF ITS DIRECT
AND INDIRECT DOMESTIC SUBSIDIARIES AND THE DIRECT AND INDIRECT DOMESTIC
SUBSIDIARIES OF THE BORROWER AND THE PARENT; PROVIDED HOWEVER THAT ONLY 65% OF
THE EQUITY INTERESTS OF ANY DOMESTIC SUBSIDIARY SUBSTANTIALLY ALL OF THE ASSETS
OF WHICH CONSIST OF STOCK OF ONE OR MORE SUBSIDIARIES THAT ARE NOT DOMESTIC
SUBSIDIARIES SHALL BE REQUIRED TO BE PLEDGED AS COLLATERAL UNDER THIS SECTION
6.14.
6.15
FURTHER ASSURANCES.
PROMPTLY UPON REQUEST BY THE ADMINISTRATIVE
AGENT, (A) CORRECT ANY MATERIAL DEFECT OR ERROR THAT MAY BE DISCOVERED IN ANY
LOAN DOCUMENT OR IN THE EXECUTION, ACKNOWLEDGMENT, FILING OR RECORDATION
THEREOF, AND (B) DO, EXECUTE, ACKNOWLEDGE, DELIVER, RECORD, RE-RECORD, FILE,
RE-FILE, REGISTER AND RE-REGISTER ANY AND ALL SUCH FURTHER ACTS, DEEDS,
CERTIFICATES, ASSURANCES AND OTHER INSTRUMENTS AS THE ADMINISTRATIVE AGENT MAY
REASONABLY REQUIRE FROM TIME TO TIME IN ORDER TO (I) CARRY OUT MORE EFFECTIVELY
THE PURPOSES OF THE LOAN DOCUMENTS, (II) TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, SUBJECT ANY LOAN PARTY'S PROPERTIES, ASSETS, RIGHTS OR INTERESTS
TO THE LIENS NOW OR HEREAFTER INTENDED TO BE COLLATERAL, (III) PERFECT AND
MAINTAIN THE VALIDITY, EFFECTIVENESS AND PRIORITY OF ANY OF THE SECURITY
INTERESTS, LOAN DOCUMENTS AND ANY OF THE LIENS INTENDED TO BE CREATED THEREUNDER
AND (IV) ASSURE, CONVEY, GRANT, ASSIGN, TRANSFER, PRESERVE, PROTECT AND CONFIRM
MORE EFFECTIVELY UNTO THE ADMINISTRATIVE AGENT ON BEHALF OF THE LENDERS THE
RIGHTS GRANTED OR NOW OR HEREAFTER INTENDED TO BE GRANTED TO THE ADMINISTRATIVE
AGENT ON BEHALF OF THE LENDERS UNDER ANY LOAN DOCUMENT OR UNDER ANY OTHER
INSTRUMENT EXECUTED IN CONNECTION WITH ANY LOAN DOCUMENT TO WHICH ANY LOAN PARTY
OR ANY OF ITS RESTRICTED SUBSIDIARIES