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7/17/2007 8:37:49 AM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
9334
Resolution Title
Consenting to the transfer of control of and certain ownership interests in a Cable Television
Resolution Date Passed
9/23/1996
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<br />CORPORATE GUARANTY <br />OF <br />U.S. WEST, INC. <br /> <br />This Corporate Guaranty ("Guaranty") is executed as of <br />U.S. WEST, Inc. ("Guarantor"), for the benefit of the municipality of <br />(" Authority"). <br /> <br />, 1996, by <br /> <br />WITNESSETH: <br /> <br />WHEREAS, pursuant to the cable television franchise (the "Franchise") between the <br />Authority and Group W ("Group W"), and certain agreements, <br />understandings and Franchise amendments related thereto, Group. W has certain obligations related <br />to the provision of cable television and related services for the Authority's citizens; and <br /> <br />WHEREAS, Guarantor has proposed a merger whereby Continental Cablevision, Inc. <br />("Continental") will merge into Guarantor or a subsidiary thereof and the merger will result in <br />Guarantor or a subsidiary thereof owning and controlling Group W; and <br /> <br />WHEREAS, the Authority's consent is required to the change of control of Group W <br />which will result from the merger; and <br /> <br />WHEREAS, the Authority is not willing to consent to the change of control of Group W <br />which will result from the merger unless the Guarantor unconditional1y guarantees the payment, <br />obligations and performance of Group W pursuant to the terms of the Franchise and certain <br />agreements, understandings and Franchise amendments related thereto. . <br /> <br />NOW, THEREFORE, as a condition of Authority's consent to the change of control of <br />Group W, the parties do hereby agree as follows: <br /> <br />1. Guarantor irrevocably and unconditionally guarantees to the Authority or its <br />successor and assigns prompt and satisfactory payment and performance by Group W of the <br />Franchise and those certain agreements, understandings and Franchise amendments related <br />thereto, and all applicable federal, state and local1aws, ordinances and regulations. <br /> <br />2. This. Guaranty shall be effective upon the opening of business on the date when the <br />merger of Continental and Guarantor or a subsidiary thereof is closed, and shall run throughout <br />the term of the Franchise and any renewal or extension thereof, except that this Guaranty shall <br />terminate at such earlier time that Guarantor lawfully transfers ownership or control of Group W <br />in accordance with the Franchise and applicable federal, state and local law , including receipt of <br />consent from Authority for such transfer. <br /> <br />3. In the event that Guarantor should breach or fail to timely perform any provisions <br />of this Guaranty, Guarantor shall pay Authority all costs and expenses (including court costs and <br />attorneys' fees) incurred by Authority in the successful enforcement hereof. <br />
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