OR TO ALL OR ANY MATERIAL PART OF ITS
PROPERTY IS INSTITUTED WITHOUT THE CONSENT OF SUCH PERSON AND CONTINUES
UNDISMISSED OR UNSTAYED FOR 90 CALENDAR DAYS, OR AN ORDER FOR RELIEF IS ENTERED
IN ANY SUCH PROCEEDING; OR
(G)
INABILITY TO PAY DEBTS; ATTACHMENT.
(I) THE
PARENT, THE BORROWER OR ANY MATERIAL SUBSIDIARY ADMITS IN WRITING ITS INABILITY
TO PAY ITS DEBTS AS THEY BECOME DUE, OR (II) ANY WRIT OR WARRANT OF ATTACHMENT
OR EXECUTION OR SIMILAR PROCESS IS ISSUED OR LEVIED AGAINST ALL OR ANY MATERIAL
PART OF THE PROPERTY OF ANY SUCH PERSON AND IS NOT RELEASED, VACATED OR FULLY
BONDED WITHIN 30 DAYS AFTER ITS ISSUE OR LEVY; OR
(H)
JUDGMENTS.
THERE IS ENTERED AGAINST THE
PARENT, THE BORROWER OR ANY SUBSIDIARY (I) A FINAL JUDGMENT OR ORDER FOR THE
PAYMENT OF MONEY IN AN AGGREGATE AMOUNT EXCEEDING $50,000,000 (TO THE EXTENT NOT
COVERED BY INDEPENDENT THIRD-PARTY INSURANCE OR INDEMNITY), OR (II) ANY ONE OR
MORE NON-MONETARY FINAL JUDGMENTS THAT HAVE, OR IS REASONABLY EXPECTED TO HAVE,
INDIVIDUALLY OR IN THE AGGREGATE, A MATERIAL ADVERSE EFFECT AND, IN EITHER CASE,
(A) ENFORCEMENT PROCEEDINGS ARE COMMENCED BY ANY CREDITOR UPON SUCH JUDGMENT OR
ORDER, OR (B) THERE IS A PERIOD OF 30 CONSECUTIVE DAYS DURING WHICH A STAY OF
ENFORCEMENT OF SUCH JUDGMENT, BY REASON OF A PENDING APPEAL OR OTHERWISE, IS NOT
IN EFFECT; OR
(I)
ERISA.
(I) AN ERISA EVENT OCCURS WITH
RESPECT TO A PENSION PLAN OR MULTIEMPLOYER PLAN WHICH HAS RESULTED OR IS
REASONABLY EXPECTED TO RESULT IN LIABILITY OF THE PARENT, THE BORROWER OR ANY
SUBSIDIARY UNDER TITLE IV OF ERISA TO THE PENSION PLAN, MULTIEMPLOYER PLAN OR
THE PBGC IN AN AGGREGATE AMOUNT IN EXCESS OF $20,000,000, OR (II) THE PARENT,
THE BORROWER OR ANY ERISA AFFILIATE FAILS TO PAY WHEN DUE, AFTER THE EXPIRATION
OF ANY APPLICABLE GRACE PERIOD, ANY INSTALLMENT PAYMENT WITH RESPECT TO ITS
WITHDRAWAL LIABILITY UNDER SECTION 4201 OF ERISA UNDER A MULTIEMPLOYER PLAN IN
AN AGGREGATE AMOUNT IN EXCESS OF $20,000,000; OR
(J)
INVALIDITY OF LOAN DOCUMENTS.
ANY
MATERIAL PROVISION OF ANY LOAN DOCUMENT, AT ANY TIME AFTER ITS EXECUTION AND
DELIVERY AND FOR ANY REASON OTHER THAN AS EXPRESSLY PERMITTED HEREUNDER OR
THEREUNDER OR SATISFACTION IN FULL OF ALL THE OBLIGATIONS, CEASES TO BE IN FULL
FORCE AND EFFECT; OR ANY LOAN PARTY OR ANY OTHER PERSON CONTESTS IN ANY MANNER
THE VALIDITY OR ENFORCEABILITY OF ANY MATERIAL PROVISION OF ANY LOAN DOCUMENT;
OR
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ANY LOAN PARTY DENIES THAT IT HAS ANY OR FURTHER LIABILITY OR OBLIGATION UNDER
ANY LOAN DOCUMENT, OR PURPORTS TO REVOKE, TERMINATE OR RESCIND ANY MATERIAL
PROVISION OF ANY LOAN DOCUMENT; OR
(K)
FAILURE TO COMPLY WITH FCC.
(I) THE FCC OR
ANY OTHER LICENSING AUTHORITY SHALL (A) REVOKE, TERMINATE, SUBSTANTIALLY AND
ADVERSELY MODIFY OR REFUSE BY FINAL ORDER TO RENEW ANY LICENSE RELATING TO A
STATION OR STATIONS, OR (B) DESIGNATE ANY LICENSE FOR HEARING OR COMMENCE
PROCEEDINGS TO SUSPEND, REVOKE, TERMINATE OR SUBSTANTIALLY AND ADVERSELY MODIFY