Lee Family Broadcasting is selling 93.5 KXCD Fairfield to CSN International
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Section 1.1(b) Excluded Assets. The excluded assets, which shall not be included in the Section 1.1 (a) Assets to be Assigned, are: (a) cash, cash equivalents, accounts receivable and prepaid expenses; (b) the Seller's arrangement for Seller's use of the Station's existing antenna, transmitter, tower site; and (c) the transmitter, antenna, and other equipment of any type used for Seller's operation of the Station; (c) any assets set forth in Schedule 1.1(b) and as well as other assets not set forth in Section 1.1(a) (collectively, the "Excluded Assets").
Section 1.2 (Purchase Price). The purchase price to be paid for the Assets to be Assigned is Seventy Five Thousand Dollars ($ 75,000.00) (the "Purchase Price"), subject to adjustment as provided herein. Buyer shall make payment in full of the Purchase Price on the Closing Date by wire transfer to Seller's bank account or bank cashier's check payable to Seller. The Buyer understands that the Purchase Price agreed to by Seller in this Agreement is based upon the Buyer's non-profit corporation, religious status and commitment to operate the Station with status as a non-commercial educational Station on its licensed frequency of 93.5 mHz and accordingly if in the future the Buyer operates the Station on a for-profit basis with status as a commercial station or files an FCC application for assignment of the Station's FCC License to an entity [or individual(s)] which plan to or operates the Station with status as a commercial entity, then in that event. Buyer shall pay to Seller within thirty (30) days' of such change to commercial status by Buyer or filing of an assignment application to a for-profit entity [or individual(s)] which plan to or operate the station with commercial status, as an addition to the Purchase Price, the additional sum of Seventy Thousand Dollars ($70,000.00) by wire transfer to Seller's bank account or bank cashier's check payable to Seller, so that the total amount of the adjusted Purchase Price will be One Hundred Forty-Five Thousand Dollars ($145,000.00), (the "Adjusted Purchase Price")."
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Section 1.1(b) Excluded Assets. The excluded assets, which shall not be included in the Section 1.1 (a) Assets to be Assigned, are: (a) cash, cash equivalents, accounts receivable and prepaid expenses; (b) the Seller's arrangement for Seller's use of the Station's existing antenna, transmitter, tower site; and (c) the transmitter, antenna, and other equipment of any type used for Seller's operation of the Station; (c) any assets set forth in Schedule 1.1(b) and as well as other assets not set forth in Section 1.1(a) (collectively, the "Excluded Assets").
Section 1.2 (Purchase Price). The purchase price to be paid for the Assets to be Assigned is Seventy Five Thousand Dollars ($ 75,000.00) (the "Purchase Price"), subject to adjustment as provided herein. Buyer shall make payment in full of the Purchase Price on the Closing Date by wire transfer to Seller's bank account or bank cashier's check payable to Seller. The Buyer understands that the Purchase Price agreed to by Seller in this Agreement is based upon the Buyer's non-profit corporation, religious status and commitment to operate the Station with status as a non-commercial educational Station on its licensed frequency of 93.5 mHz and accordingly if in the future the Buyer operates the Station on a for-profit basis with status as a commercial station or files an FCC application for assignment of the Station's FCC License to an entity [or individual(s)] which plan to or operates the Station with status as a commercial entity, then in that event. Buyer shall pay to Seller within thirty (30) days' of such change to commercial status by Buyer or filing of an assignment application to a for-profit entity [or individual(s)] which plan to or operate the station with commercial status, as an addition to the Purchase Price, the additional sum of Seventy Thousand Dollars ($70,000.00) by wire transfer to Seller's bank account or bank cashier's check payable to Seller, so that the total amount of the adjusted Purchase Price will be One Hundred Forty-Five Thousand Dollars ($145,000.00), (the "Adjusted Purchase Price")."
