OR THE LENDERS
IN CONNECTION THEREWITH OR AS A RESULT OF ANY ACTION WHICH MAY 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 BORROWER'S 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
BORROWER'S 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 SUBSIDIARY OTHER THAN AN EXCLUDED NON-WHOLLY OWNED
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.
6.15
SWAP CONTRACTS.
THE BORROWER SHALL MAINTAIN IN
EFFECT AT ALL TIMES AFTER 30 DAYS AFTER THE CLOSING DATE, ONE OR MORE SWAP
CONTRACTS WITH PARTIES REASONABLY SATISFACTORY TO THE AGENTS, THE EFFECT OF
WHICH SHALL BE TO FIX OR LIMIT THE INTEREST COST TO THE BORROWER WITH RESPECT TO
AT LEAST 50% OF THE OUTSTANDING AGGREGATE PRINCIPAL AMOUNT OF CONSOLIDATED
FUNDED INDEBTEDNESS, FOR AN INITIAL TERM OF EACH SWAP CONTRACT OF NOT LESS THAN
TWO YEARS (OR IF LESS, THROUGH THE MATURITY DATE) AND IN FORM AND SUBSTANCE
REASONABLY SATISFACTORY TO THE AGENTS.
NOTWITHSTANDING THE FOREGOING, IF AT ANY
SUCH TIME AND DURING SUCH PERIOD THAT THE CONSOLIDATED LEVERAGE RATIO IS EQUAL
TO OR LESS THAN 4.00 TO 1.00 FOR THE MOST RECENTLY COMPLETED FOUR FISCAL
QUARTERS, THE BORROWER SHALL NOT BE REQUIRED TO MAINTAIN ANY SWAP CONTRACTS
PURSUANT TO THIS SECTION 6.15 DURING SUCH PERIOD.
TO THE EXTENT THE BORROWER
HAS NOT BEEN PREVIOUSLY REQUIRED UNDER THIS SECTION TO MAINTAIN A SWAP CONTRACT
BUT SUCH EXCEPTION IS NO LONGER APPLICABLE, THE BORROWER SHALL HAVE 45 DAYS
AFTER RECEIPT OF A COMPLIANCE CERTIFICATE IN ACCORDANCE WITH THE TERMS OF
SECTION 6.02(A) TO SATISFY THE REQUIREMENTS UNDER THIS SECTION 6.15.
THE TERM
"AGENTS" AS USED IN THIS SECTION 6.15 SHALL MEAN THE ADMINISTRATIVE AGENT FROM
AND AFTER ANY TIME AT WHICH BANK OF AMERICA CEASES TO BE A LENDER HEREUNDER.
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