Document:

Exhibit 

10.5

 

FIRST AMENDMENT

TO

EMPLOYMENT, NONCOMPETITION

AND ARBITRATION AGREEMENT

 

This First

Amendment to Employment, Noncompetition and Arbitration Agreement (this “Amendment”) is entered into this 2nd

day of April, 2003 (the “Amendment Date”),

by and between Jeffrey T. Hinson (“Employee”),

and HBC Management Company, Inc. (“Employer”).  Capitalized terms used herein, but not

otherwise defined, shall have the same meaning assigned to them in the

Agreement (as defined below).

 

RECITALS

 

A.                                   Employee

and Employer entered into that certain Employment, Noncompetition and

Arbitration Agreement, dated as of November 5, 2001 (the “Agreement”);

 

B.                                     The

parties desire to amend the Agreement as set forth herein in anticipation of

the completion of the transactions contemplated by that certain Agreement and

Plan of Reorganization dated June 11, 2002 by and among Hispanic

Broadcasting Corporation, Univision Communications, Inc. (“Univision”) and Univision Acquisition

Corporation (the “Merger Agreement”);

and

 

C.                                     Employer

desires to continue to employ Employee and Employee desires to continue his

employment with Employer subject to the following modifications of the

Agreement.

 

AGREEMENT

 

NOW,

THEREFORE, in consideration of the premises and agreements herein contained and

other good and valuable consideration, the receipt and sufficiency of which are

hereby acknowledged, the parties agree as follows:

 

1.                                       Amendment to Paragraph 4.  The introductory paragraph of Paragraph 4 of

the Agreement is hereby amended and restated in its entirety to read as follows

(Sub-Paragraphs 4(a), (b) and (c) of the Agreement to remain as is without

amendment):

 

Duration of 

Employment.  The term of Employee’s employment shall continue pursuant to this

Agreement from the Effective Date for a period of three (3) years (including

any Conversion Period, as defined below, “Initial Term of Employment” or

“Initial Term”), subject to a later extension or earlier termination under the

provisions of this paragraph (including any Conversion Period, the “Term of

Employment” or “Term”).  The Initial

Term shall automatically be extended for an additional one-year term on each

anniversary of this Agreement unless, before such anniversary, either party

shall give notice to the other that it elects to terminate this automatic

extension provision; provided, however, that this automatic

extension provision shall automatically terminate on the Date of Conversion, as

defined below, of this Agreement.

 

 

2.                                       Insertion of New Sub-Paragraph 4(d).  The following shall be inserted as new

Sub-Paragraph 4(d) of the Agreement:

 

(d)                                 Conversion to Consulting Agreement.

 

If at any

point after the Initial Meeting (as defined below) Employee is not satisfied

with his duties and responsibilities, Employee shall be entitled, in his sole

and absolute discretion, to terminate his employment with Employer and to

convert this Agreement to a consulting agreement (the “Conversion”) pursuant to

which he shall provide consulting services to Employer for the balance of the

Term, by giving written notice to Employer stating his desire to terminate his

employment and convert the Agreement in accordance with the provisions of this

Sub-Paragraph 4(d) (the “Notice of Conversion”), and such Conversion shall take

effect on the date Employer receives the Notice of Conversion (the “Date of

Conversion”).  The parties’ obligations

under Paragraph 2 (other than the Employer’s obligations under Sub-Paragraph 2(b))

of this Agreement shall not in any way be diminished, but rather shall remain

in full force and effect after the Date of Conversion, and Employee shall

remain subject to the provisions of Paragraph 9 of the Agreement.  Employer and Employee shall use their

reasonable efforts to agree to the terms and scope of Employee’s consulting

services and to amend this Agreement accordingly to reflect the Conversion

within thirty (30) days following the Date of Conversion; provided, however,

the following Paragraphs of the Agreement shall terminate and no longer be of

any force or effect as of 12:01 a.m., Dallas time, on the Date of Conversion:

3(a), 3(b), 3(c), 3(d), 4(c)(i) and (vi), and 5.

 

3.                                       Amendment to Paragraph 7.  Paragraph 7 of the Agreement is hereby

amended and restated in its entirety to read as follows:

 

Annual Meetings with Univision.  Upon closing of the Transactions (as defined

in the Merger Agreement), Employee shall be entitled to meet annually with

representatives of Univision to discuss his employment duties and

responsibilities.  The initial meeting

pursuant to this Paragraph 7, which shall occur in December 2003, being

referred to as the “Initial Meeting.”

 

4.                                       Effect.  Except as amended by this Amendment, all of the provisions of the

Agreement are hereby affirmed, ratified and declared to be in full force and

effect.

 

5.                                       Counterparts.  This Amendment may be executed in multiple counterparts, each of

which shall be deemed an original and together shall constitute one and the

same Amendment.

 

6.                                       Effectiveness.  This Amendment shall become effective upon

the closing of the Transactions.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

IN WITNESS

WHEREOF, this Amendment has been entered into as of the date and year first

above written.

 

	

   

  	

  EMPLOYEE:

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

     /s/

  Jeffrey T. Hinson

  	

   

  
	

   

  	

  Jeffrey T.

  Hinson

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  EMPLOYER:

  
	

   

  	

   

  
	

   

  	

  HBC MANAGEMENT COMPANY, INC.

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

  /s/ McHenry

  Tichenor, Jr.

  	

   

  
	

   

  	

  Name:

  	

  McHenry

  Tichenor, Jr.

  	

   

  
	

   

  	

  Title:

  	

  Chief

  Executive Officer

  	

   

  
						

 

S-1Exhibit 10.6

 

TIME BROKERAGE AGREEMENT

 

THIS TIME BROKERAGE AGREEMENT (this “Agreement”)
is entered into as of the 10th day of January, 2003, by and between
HBC
ILLINOIS, INC., a Delaware corporation (“Programmer”),  and
BIG CITY RADIO-CHI, L.L.C., a
Delaware limited liability company (“Licensee”).

 

RECITALS:

 

WHEREAS, Licensee is the licensee pursuant to
authorizations by the Federal Communications Commission (“FCC”) of radio broadcast station WXXY-FM, licensed to
Highland Park, Illinois (the “Station”);

 

WHEREAS, during the term of this Agreement, Licensee
wishes to retain Programmer to provide programming and related services for the
Station, all in conformity with Licensee’s policies and procedures, FCC rules,
regulations and policies for time brokerage arrangements, and the provisions
hereof;

 

WHEREAS, Programmer agrees to use the Station to
broadcast such programming of Programmer’s selection that is in conformity with
the Communications Act of 1934, as amended and all rules, regulations and
policies of the FCC (collectively, the “FCC Requirements”), subject to
Licensee’s full authority to manage and control the operation of the Station;

 

WHEREAS, Programmer and Licensee have entered into an
Asset Purchase Agreement dated as of January 2, 2003 (the “Purchase
Agreement”), pursuant to which Licensee has agreed to sell to Programmer, and Programmer has agreed to purchase from
Licensee, certain of the radio station properties and assets relating to the
Station as described therein under the terms and conditions set forth in the
Purchase Agreement; and

 

WHEREAS, Programmer and Licensee agree to cooperate to
make this Agreement work to the benefit of the public and both parties and as
contemplated by the terms set forth herein.

 

AGREEMENT:

 

NOW, THEREFORE, in consideration of the above
recitals, and mutual promises and covenants contained herein, the parties
intending to be legally bound, agree as follows:

 

SECTION 1                               USE
OF STATION AIR TIME.

 

1.1                                 Scope.
During the Term (as defined in Section 1.2 below), Licensee shall
make available to Programmer broadcast time on the Station as set forth in this
Agreement.  Programmer shall deliver
such programming, at Programmer’s expense, to the Station’s transmitters or
other authorized remote control points designated by Licensee.  Programmer shall provide such programming of
Programmer’s selection complete with commercial matter, news, 

 

 

public service announcements and other suitable programming to the
Station.  Except as otherwise provided
in this Agreement, Licensee agrees to broadcast such programming in its
entirety, including commercials at the times specified, on the facilities of
the Station without interruption, deletion, or addition of any kind.  Licensee may use such time as Licensee may
require up to two (2) hours per week, for the broadcast of Licensee’s own
regularly-scheduled news, public affairs, and other non-entertainment
programming on the Station, to be scheduled at mutually agreeable times.  Licensee may elect to set aside additional
air time (up to two (2) hours per week) (the “Additional Time”) to be
scheduled at a mutually agreeable time, for the broadcast of specific
non-entertainment programming on issues of importance to the local
community.  Licensee shall provide
Programmer with as much notice as possible, but in no event less than three (3)
weeks’ notice, of its intention to set aside such Additional Time.  All program time not reserved by or
designated for Licensee shall be available for use by Programmer.  Licensee agrees that Programmer may sell, or
engage a third party to sell, commercial time during the programming provided
by Programmer to the Station for Programmer’s account.

 

1.2                                 Term.  The term of this Agreement (the “Term”)
shall commence at 12:01 a.m. on January 13, 2003 (the “Effective Date”),
and end on the Closing Date (as defined in the Purchase Agreement), unless
terminated earlier pursuant to any of the provisions of Section 5
hereof.

 

SECTION 2                               STATION
OPERATIONS.

 

2.1                                 Licensee
Control Over Station Operations.

 

(a)                                  Licensee
shall retain ultimate authority, power and control over the operations of the
Station during the Term, including specifically, control over the personnel,
programming and finances of the Station.

 

(b)                                 Subject
to Licensee’s ultimate authority, power and control over the operations of the
Station, Programmer agrees to provide programming and related services to the
Station.  Such related services shall
include:  (i) the sale of advertising
time on the Station; (ii) coordination of traffic and billing functions;
(iii) maintenance, repair and replacement of the Station’s transmitting or
studio equipment and the other assets used or held for use in the business and
operation of the Station, other than the FCC Licenses (as such term is defined
in the Purchase Agreement) and (iv) other administrative or operational
functions as Licensee and Programmer may agree to, consistent with FCC
Requirements relating to time brokerage agreements.  Programmer shall provide and perform Programmer’s obligations
hereunder, including all related services, diligently and in a manner
consistent in all material respects with broadcast industry practices.

 

(c)                                  When
on the Licensee’s premises, all employees of Programmer used to provide
Programmer’s programming or other services to the Station shall be subject to
the overall supervision of management personnel under Licensee’s control.  Subject to Licensee’s ultimate authority,
power and control over the operations of the Station, Programmer’s employees shall
be solely accountable to Programmer.

 

2

 

2.2                                 Station
Expenses.  During the Term, Licensee
shall be responsible for paying directly those expenses necessary to maintain
compliance with the FCC Requirements and the terms of this Agreement.   Programmer shall employ and be responsible
for the salaries, taxes, programming costs, insurance and related costs for all
personnel used in the production of the Programmer’s programming (including,
without limitation, salespeople, traffic personnel, administrative and
programming staff).

 

2.3                                 Fee.  The fee payable by Programmer to Licensee in
consideration for the airtime made available hereunder and the other
agreements of the parties made hereunder, shall be in the amount and manner as
set forth in Schedule 2.3 hereto.

 

2.4                                 Call
Letters.  Licensee hereby grants to
Programmer a non-exclusive license to use the call letters “WXXY-FM” in
connection with the provision of programming and related services for the
Station in accordance with the terms and conditions of this Agreement.  The license granted by the foregoing
sentence shall terminate and be of no further force or effect upon the earlier
of the expiration of the Term or the termination of this Agreement.

 

SECTION 3                               STATION
PUBLIC INTEREST OBLIGATIONS.

 

3.1                                 Licensee
Authority.  Subject to Programmer’s
obligations hereunder, Licensee shall be responsible for the Station’s
compliance with all FCC Requirements and all other applicable laws.  Programmer shall cooperate with Licensee, at
Programmer’s expense, in taking such actions as Licensee may reasonably request
to assist Licensee in maintaining the Station’s compliance with the FCC
Requirements and all other applicable laws. 
Notwithstanding any other provision of this Agreement, Programmer
recognizes that Licensee has certain obligations to operate the Station in the
public interest, and to broadcast programming to meet the needs and interests
of the Station’s communities of license and service areas.  From time to time Licensee shall air, or if
Licensee requests, Programmer shall air, programming on issues of importance to
the local community.  Nothing in this
Agreement shall abrogate or limit the unrestricted authority of Licensee to
discharge Licensee’s obligations to the public and to comply with the FCC
Requirements, and Licensee shall have no liability or obligation to Programmer,
for taking any action that Licensee reasonably and in good faith believes to be
necessary or appropriate to discharge such obligations or comply with such
laws, rules, regulations or policies.

 

3.2                                 Additional
Licensee Obligations.  Although both
Licensee and Programmer shall cooperate in the broadcast of emergency
information over the Station, Licensee shall retain the right, without any
liability or obligation to Programmer, to interrupt Programmer’s programming in
case of an emergency or for programming which, in the good faith judgment of
Licensee, is of greater local or national public importance.  In all such cases, Licensee shall use
Licensee’s commercially reasonable efforts to provide Programmer prior written
notice of Licensee’s intention to interrupt Programmer’s programming.  Licensee shall coordinate with Programmer
the Station’s hourly station identification and any other announcements
required to be aired by FCC Requirements. 
Licensee shall (a) maintain the Station’s local public inspection
file within the Station’s community of license or at the Station’s main studio,
and (b) prepare and place in such inspection file in a timely manner all
material required by Section 73.3526 of the FCC’s Requirements, including
the Station’s quarterly issues and program lists.  Programmer shall, 

 

3

 

upon request by Licensee, promptly provide Licensee with such
information concerning Programmer’s programs and advertising as is necessary to
assist Licensee in the preparation of such information or to enable Licensee to
verify independently the Station’s compliance with any other laws, rules,
regulations or policies applicable to the Station’s operation.

 

SECTION 4                               STATION
PROGRAMMING & OPERATIONAL POLICIES.

 

4.1                                 Broadcast
Station Programming Policy Statement. 
Licensee has adopted a Broadcast Station Programming Policy Statement
(the “Policy Statement”), a copy of which appears as Schedule 4.1
hereto and which may be amended from time to time in order to comply with FCC
Requirements by Licensee upon written notice to Programmer.  Programmer agrees and covenants to comply in
all material respects with the Policy Statement, with all FCC Requirements, and
with all changes subsequently made by Licensee (in good faith) or the FCC.  Programmer shall furnish or cause to be
furnished the artistic personnel and material for the programs as provided by
this Agreement and all programs shall be prepared and presented in conformity
in all material respects with FCC Requirements and with the Policy
Statement.  All advertising spots and
promotional material or announcements shall comply in all material respects
with all applicable federal, state and local laws, regulations and policies and
the Policy Statement, and shall be produced in accordance with quality
standards established by Programmer.  If
Licensee determines that a program, commercial announcement or promotional
material supplied by Programmer is for any reason, in Licensee’s reasonable
discretion, contrary to the public interest, or does not comply with the Policy
Statement, Licensee may, upon written notice to Programmer (to the extent time
permits such notice), and without any liability or obligation to Programmer,
suspend or cancel such program, commercial announcement or promotional material
and substitute its own programming or, if Licensee requests, Programmer shall
provide promptly suitable programming, commercial announcement or other
announcement or promotional material.

 

4.2                                 Licensee
Control of Station Programming. 
Notwithstanding any contrary provision contained in this Agreement, and
consistent with Licensee’s obligations pursuant to the FCC Requirements,
Licensee shall have the right, without any liability or obligation to
Programmer, to delete or preempt any material contained in any programming or
commercial matter furnished by Programmer for broadcast over the Station that
Licensee reasonably and in good faith believes to be unsuitable for broadcast
or the broadcast of which Licensee reasonably and in good faith believes would
be contrary to the public interest. 
Licensee shall have the right, without any liability or obligation to
Programmer to broadcast Licensee’s own programming in place of such deleted or
preempted material.  Licensee expressly
agrees that Licensee’s right to reject or preempt any of the programming will
be exercised only for cause and will not be exercised in an arbitrary manner,
for the commercial advantage of Licensee, or to cause harm to the business or
operations of Programmer.

 

4.3                                 Political
Advertising.  Licensee shall oversee
and shall take ultimate responsibility for the Station’s compliance with the
political broadcasting rules of the FCC and Sections 312 and 315 of
the Communications Act of 1934, as amended (the “Act”), including the
provision of 

 

4

 

equal opportunities, compliance with lowest unit charge requirements,
and the provision of reasonable access to federal political candidates.  Programmer shall cooperate with Licensee, at
Programmer’s expense, to assist Licensee in complying with the political
broadcasting rules of the FCC. 
Programmer shall supply such information promptly to Licensee as may be
necessary to comply with the lowest unit charge and other applicable political
broadcast requirements of federal law. 
To the extent that Licensee reasonably and in good faith believes
necessary or appropriate, Programmer shall release advertising availabilities
to Licensee to permit Licensee to comply with the political broadcasting rules
of the FCC and Sections 312 and 315 of the Act.  Programmer shall be entitled to all revenues
received by Licensee for such advertising.

 

4.4                                 Advertising
of Credit Terms.  To the extent
prohibited by the rules of the Federal Trade Commission, no advertising of
credit terms shall be made over broadcast material supplied hereunder by
Programmer beyond mention of the fact that credit terms are available.

 

4.5                                 Payola/Plugola.  In order to enable Licensee to fulfill
Licensee’s obligations under Section 317 of the Act, Programmer, in
compliance with Section 507 of the Act, will, in advance of any scheduled
broadcast by the Station, disclose to Licensee any information of which
Programmer has knowledge or which has been disclosed to Programmer as to any
money, service, or other valuable consideration that any person has paid or
accepted, or has agreed to pay or to accept, for the inclusion of any matter as
a part of the programming or commercial matter to be supplied to Licensee
pursuant to this Agreement.  Programmer
will cooperate with Licensee, at Programmer’s expense, as necessary to ensure
compliance with this provision. 
Commercial matter with obvious sponsorship identifications shall not
require disclosure in addition to that contained in the commercial copy.

 

4.6                                 Programmer
Compliance with Copyright Act. 
Programmer represents and warrants that Programmer will have full
authority to broadcast the programming on the Station; that Programmer shall
not broadcast any material in violation of the Copyright Act; and the
performing rights to all music contained in broadcast material supplied
hereunder by Programmer are licensed by BMI, ASCAP, or SESAC, are in the public
domain, are controlled by Programmer, or are cleared at the source by
Programmer.

 

SECTION 5                               TERMINATION.

 

5.1                                 Termination
by Programmer.  This Agreement may
be terminated by Programmer by written notice to Licensee, if Programmer is not
then in material default or breach hereof or of the Purchase Agreement, if
Licensee is in material breach of Licensee’s representations or Licensee’s
material obligations hereunder and has failed to cure such breach within thirty
(30) days of written notice of the breach from Programmer.

 

5.2                                 Termination
by Licensee.  This Agreement may be
terminated by Licensee by written notice to Programmer, if Licensee is not then
in material default or breach hereof or of the Purchase Agreement, if
Programmer is in material breach of Programmer’s representations or
Programmer’s material obligations hereunder and Programmer has failed to cure
such breach within thirty (30) days of written notice of the breach from
Licensee.

 

5

 

5.3                                 Termination.  If not otherwise earlier terminated, this
Agreement will terminate upon the first to occur of any of the following:

 

(a)                                  this
Agreement is declared invalid or illegal in whole or material part by an order
or decree of an administrative agency or court of competent jurisdiction the
effect of which would be to materially curtail Programmer’s activities
hereunder and such order or decree has become final and no longer subject to
further administrative or judicial review;

 

(b)                                 there
has been a material change in FCC Requirements that would cause this Agreement
to be in material violation thereof and such change is in effect and not the
subject of an appeal or further administrative review;

 

(c)                                  the
mutual written consent of both parties; or

 

(d)                                 the
termination of the Purchase Agreement in accordance with the terms thereof.

 

5.4                                 Severability.  The parties hereto intend that the
transactions contemplated hereunder comply in all respects with FCC
Requirements.  If any provision of this
Agreement shall be declared void, illegal, or invalid by any governmental
authority with jurisdiction thereof, the remainder of this Agreement shall
remain in full force and effect without such offending provision so long as
such remainder substantially reflects the intent and economic or other benefits
of the original agreement of the parties hereunder.  Furthermore, in such event, the parties shall use their
commercially reasonable efforts to reach agreement promptly on lawful
substitute provisions in place of said offending provision so as to effectuate
more closely their intent as expressed hereunder.  If any governmental authority grants to any other entity or
individual rights which are not contained in this Agreement, then the parties
shall use their commercially reasonable efforts to amend this Agreement to
provide the parties hereto such lawful provisions which comport with any rules,
regulations and policies adopted after the date of this Agreement.

 

5.5                                 Force
Majeure.  Any failure or impairment
of the assets of the Station or any delay or interruption in the broadcast of
programs, or failure at any time to furnish facilities, in whole or in part,
for broadcast, due to acts of God, restrictions by any governmental authority,
civil riot, fire, strike, labor unrest, floods or any other similar cause not
reasonably within the control of Licensee or Programmer, shall not constitute a
breach of this Agreement and Licensee will not be liable to Programmer nor will
Programmer be liable to Licensee for any liability or obligation with respect
thereto.

 

5.6                                 Insurance;
Risk of Loss.  From the Effective
Date through the end of the Term, Programmer shall maintain with reputable
insurance companies reasonably acceptable to Licensee, insurance in such
amounts and with respect to such risks reasonably acceptable to Licensee,
including broadcast liability insurance naming Licensee as an additional
insured, and general comprehensive insurance, also naming Licensee as an
additional insured, each with a commercially reasonable amount of coverage as is
conventionally carried by broadcasters operating radio stations in the area
comparable to those of the Station.  The
risk of any loss, 

 

6

 

damage, impairment, confiscation, or condemnation of any equipment or
other personal property owned or leased and used by Programmer in the
performance of its obligations hereunder shall be borne by Programmer at all
times throughout the Term.

 

SECTION 6                               INDEMNIFICATION.

 

6.1                                 Indemnification
by Programmer.  Programmer shall
indemnify and hold harmless Licensee from and against any and all claims,
losses, costs, liabilities, damages, expenses, including any FCC fines or
forfeitures (including reasonable legal fees and other expenses incidental
thereto), of every kind, nature and description (collectively “Damages”)
arising or resulting from or relating to (a) Programmer’s breach of any
representation, covenant, agreement or other obligation of Programmer contained
in this Agreement, (b) any action taken by Programmer or Programmer’s
employees and agents with respect to the Station, or any failure by Programmer
or Programmer’s employees and agents to take any action with respect to the
Station, including Damages relating to violations of FCC Requirements, slander,
libel, defamation or other claims relating to programming provided by
Programmer or Programmer’s broadcast and sale of advertising time on the
Station, except to the extent directed by or caused by Licensee or its
officers, employees, agents or Affiliates, or (c) the business or
operations of the Station conducted by Programmer from and after the Effective
Date.

 

6.2                                 Indemnification
by Licensee.  Licensee shall
indemnify and hold harmless Programmer from and against any and all Damages
arising or resulting from or relating to (a) Licensee’s breach of any
representation, covenant, agreement or other obligation of Licensee contained
in this Agreement, or (b) any action taken by Licensee or Licensee’s
employees and agents with respect to the Station, including Damages relating to
violations of FCC Requirements, slander, libel, defamation or other claims
relating to programming provided by Licensee.

 

SECTION 7                               REPRESENTATIONS,
WARRANTIES, AND COVENANTS.

 

7.1                                 Representations,
Warranties, and Covenants of Licensee. 
Licensee represents, warrants and covenants that:

 

(a)                                  The execution, delivery and performance by
Licensee of this Agreement, the fulfillment of and the compliance with the
terms and provisions hereof, and the consummation by Licensee of the
transactions contemplated hereby have been duly authorized by all requisite
corporate action (which authorization has not been modified or rescinded and is
in full force and effect), and do not and will not: (i) conflict with, or
violate any provision of, any Law having applicability to Licensee or any
affiliate of Licensee; (ii) conflict with, or result in any breach of, or
constitute a default under, any agreement to which Licensee is a party or by
which Licensee is bound; or (iii) result in or require the creation or imposition
of or result in the acceleration of any indebtedness, or of any mortgage, lien,
pledge, encumbrance, security interest, deed of trust, option, encroachment,
reservation, order, decree, judgment, restriction, charge, agreement, claim or
equity of any kind (“Encumbrance”) of any nature upon, or with 

 

7

 

respect to, Licensee or any of the assets now
owned or hereafter acquired by Licensee. 
No other action is necessary for Licensee to enter into this Agreement
and to consummate the transactions contemplated hereby.

 

(b)                                 This Agreement constitutes a valid and binding
obligation of Licensee, enforceable in accordance with its terms.

 

(c)                                  Licensee currently is the holder of the
authorizations related to the Station listed on Schedule 7.1 attached
hereto.

 

7.2                                 Representations,
Warranties and Covenants of Programmer. 
Programmer represents, warrants, and covenants that:

 

(a)                                  The execution, delivery and performance by
Programmer of this Agreement, the fulfillment of and the compliance with the
respective terms and provisions hereof, and the consummation by Programmer of
the transactions contemplated hereby have been duly authorized by all necessary
corporate action (which authorization has not been modified or rescinded and is
in full force and effect), and do not and will not: (i) conflict with, or
violate any provision of, any Law having applicability to Programmer or any
affiliate of Programmer or any provision of the organizational documents of
Programmer; (ii) conflict with, or result in any breach of, or constitute a
default under, any agreement to which Programmer is a party or by which
Programmer is bound; or (iii) result in or require the creation or imposition
of or result in the acceleration of any indebtedness, or of any Encumbrance of
any nature upon, or with respect to, Programmer or any of the assets now owned
or hereafter acquired by Programmer.  No
other corporate action is necessary for Programmer to enter into this Agreement
and to consummate the transactions contemplated hereby.

 

(b)                                 This Agreement constitutes a valid and binding
obligation of Programmer, enforceable in accordance with its terms.

 

SECTION 8                               MISCELLANEOUS.

 

8.1                                 Further
Assurances.  Each of the parties
hereto hereby agrees to take or cause to be taken such further actions, to
execute, deliver and file or cause to be executed, delivered and filed such
further documents, and will obtain such consents, as may be necessary or as may
be reasonably requested in order to fully effectuate the purposes, terms and
conditions of this Agreement.

 

8.2                                 Expenses.  Each party hereto will pay its own expenses
incurred by such party in connection with the negotiation, preparation,
execution and consummation of this Agreement and the transactions contemplated
hereby, including all legal and accounting fees and disbursements.

 

8.3                                 Assignment.  No party shall assign its rights and
obligations under this Agreement, in whole or in part, whether by operation of
law or otherwise, without the prior written consent of the other party hereto,
and any such assignment contrary to the terms hereof 

 

8

 

shall be null and void and of no force and effect.  In no event shall the assignment by any
party of its respective rights or obligations under this Agreement release such
party from its respective liabilities and obligations hereunder.

 

8.4                                 Entire
Agreement; Amendments.  This
Agreement constitutes the entire agreement among the parties hereto with
respect to the transactions contemplated herein and, except for the Purchase
Agreement, and documents delivered pursuant thereto, supersede all prior oral
or written agreements, commitments or understandings with respect to the
matters provided for herein.  No
amendment, modification or discharge of this Agreement shall be valid or
binding unless set forth in writing and duly executed and delivered by the
party against whom enforcement of the amendment, modification, or discharge is
sought.

 

8.5                                 Waiver.  No delay or failure on the part of any party
hereto in exercising any right, power or privilege under this Agreement or
under any other documents furnished in connection with or pursuant to this
Agreement shall impair any such right, power or privilege or be construed as a
waiver of any default or any acquiescence therein.  No single or partial exercise of any such right, power or
privilege shall preclude the further exercise of such right, power or
privilege, or the exercise of any other right, power or privilege.  No waiver shall be valid against any party
hereto unless made in writing and signed by the party against whom enforcement
of such waiver is sought and then only to the extent expressly specified
therein.

 

8.6                                 Consent
to Jurisdiction.

 

(a)                                  This
Agreement and the duties and obligations of the parties hereunder and under
each of the documents referred to herein shall be enforceable against any party
in the courts of the United States of America and of the State of New
York.  For such purpose, each party
hereto hereby irrevocably submits to the non-exclusive jurisdiction of such
courts, and agrees that all claims in respect of this Agreement and such other
documents may be heard and determined in any of such courts.

 

(b)                                 Each
party hereto hereby irrevocably agrees that a final judgment of any of the
courts specified above in any action or proceeding relating to this Agreement
or to any of the other documents referred to herein or therein shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by law.

 

8.7                                 Governing
Law.  This Agreement, the rights and
obligations of the parties hereto, and any claims or disputes relating thereto,
shall be governed by and construed in accordance with the laws of the State of
New York (excluding the choice of law rules thereof).

 

8.8                                 Notices.  All notices, demands, requests, or other
communications which may be or are required to be given, served, or sent by any
party to any other party pursuant to this Agreement shall be in writing and shall
be hand delivered, sent by overnight courier or mailed by first-class,
registered or certified mail, return receipt requested, postage prepaid, or
transmitted by telegram, telecopy or telex, addressed as follows:

 

9

 

	
  (a)

  	
  If the notice is to Programmer:

  
	
   

  	
   

  
	
   

  	
  Hispanic Broadcasting Corporation

  
	
   

  	
  3102 Oak Lawn Avenue, Suite 215

  
	
   

  	
  Dallas, Texas  75219

  
	
   

  	
  Attention:  Jeffrey T. Hinson,
  Senior Vice President

  
	
   

  	
  Telephone:  (214) 525-7711

  
	
   

  	
  Facsimile:  (214) 525-7750

  
	
   

  	
   

  
	
  with a copy (which shall not constitute notice) to:

  
	
   

  	
   

  
	
   

  	
  Hallett & Perrin, P.C.

  
	
   

  	
  2001 Bryan Street, Suite 3900

  
	
   

  	
  Dallas, Texas  75201

  
	
   

  	
  Attention:Bruce H. Hallett

  
	
   

  	
  Telephone:  (214) 922-4120

  
	
   

  	
  Facsimile:  (214) 922-4170

  
	
   

  	
   

  
	
  (b)

  	
  If to Licensee:

  
	
   

  	
   

  
	
   

  	
  Big City Radio, Inc.

  
	
   

  	
  c/o Metromedia Company

  
	
   

  	
  One Meadowlands Plaza

  
	
   

  	
  East Rutherford, New Jersey 
  07073-2137

  
	
   

  	
  Attention:  David A. Persing

  
	
   

  	
  Telephone:  (201) 531-8022

  
	
   

  	
  Facsimile:  (201) 531-2803

  
	
   

  	
   

  
	
  with a copy (which shall not constitute notice) to:

  
	
   

  	
   

  
	
   

  	
  Hogan & Hartson L.L.P.

  
	
   

  	
  8300 Greensboro Drive

  
	
   

  	
  Suite 1100

  
	
   

  	
  McLean, Virginia  22102

  
	
   

  	
  Attention:  Thomas E. Repke

  
	
   

  	
  Telephone:  (703) 610-6138

  
	
   

  	
  Facsimile:  (703) 610-6200

  

 

or to such other address
as Licensee may from time to time designate.

 

Each party may
designate by notice in writing a new address to which any notice, demand,
request or communication may thereafter be so given, served or sent.  Each notice, demand, request, or
communication which shall be hand delivered, sent, mailed or faxed in the
manner described above, shall be deemed sufficiently given, served, sent,
received or delivered for all purposes at such time as it is delivered to the
addressee (with the return receipt, the 

 

10

 

delivery receipt, or
confirmation of facsimile transmission being deemed conclusive, but not
exclusive, evidence of such delivery) or at such time as delivery is refused by
the addressee upon presentation.

 

8.9                                 Interpretation.
Section headings contained in this Agreement are inserted for convenience of
reference only, shall not be deemed to be a part of this Agreement for any
purpose, and shall not in any way define or affect the meaning, construction or
scope of any of the provisions hereof. 
Whenever the words “include”, “includes” or “including” are used in this
Agreement, they shall be deemed to be followed by the words “without
limitation.”

 

8.10                           Counterparts.  To facilitate execution, this Agreement may
be executed in as many counterparts as may be required.  It shall not be necessary that the
signatures of, or on behalf of, each party, or that the signatures of all
persons required to bind any party, appear on each counterpart; but it shall be
sufficient that the signature of, or on behalf of, each party, or that the
signatures of the persons required to bind any party, appear on one or more of
the counterparts.  All counterparts
shall collectively constitute a single agreement.  It shall not be necessary in making proof of this Agreement to
produce or account for more than a number of counterparts containing the
respective signatures of, or on behalf of, all of the parties hereto.

 

8.11                           Limitation
on Benefits.  The covenants,
undertakings and agreements set forth in this Agreement shall be solely for the
benefit of, and shall be enforceable only by, the parties hereto and their
respective successors, heirs, executors, administrators, legal representatives
and permitted assigns.

 

8.12                           Binding
Effect.  Subject to any provisions
hereof restricting assignment, this Agreement shall be binding upon and shall
inure to the benefit of the parties hereto and their respective successors,
heirs, executors, administrators, legal representatives and assigns.

 

8.13                           Taxes.  Licensee and Programmer shall each pay its
own ad valorem taxes, if any, which may be assessed on such party’s personal
property for the periods that such items are owned by such party.

 

8.14                           No
Joint Venture or Partnership. 
Programmer shall act as an independent contractor in rendering its
services hereunder.  Neither party shall
have any power or authority to act for or on behalf of the other or to bind the
other in any manner whatsoever, except as and to the extent expressly provided
for in this Agreement.  The parties
hereto agree that nothing herein shall constitute a joint venture or
partnership between them.

 

[SIGNATURE PAGE TO FOLLOW]

 

11

 

IN
WITNESS WHEREOF, the parties hereto have executed this Time Brokerage Agreement
as of the date first above written.

 

 

	
   

  	
  PROGRAMMER:

  
	
   

  	
   

  
	
   

  	
  HBC ILLINOIS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Jerry Ryan

  	
   

  
	
   

  	
  Name:

  	
   

  	
  Jerry Ryan

  	
   

  
	
   

  	
  Title:

  	
   

  	
  President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LICENSEE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BIG
  CITY RADIO-CHI, L.L.C.

  
	
   

  	
  By: BIG CITY RADIO, INC.,

  
	
   

  	
  Its Managing Member

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ David A. Persing

  	
   

  
	
   

  	
  Name:

  	
   

  	
  David A. Persing

  	
   

  
	
   

  	
  Title:

  	
   

  	
  Executive Vice President,
  General

  	
   

  
	
   

  	
   

  	
   

  	
  Counsel and Secretary

  	
   

  
											

 

12

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