Extension Confirmation Letter for Agreement for Sale of Commercial Time between Nexstar Broadcasting, Inc. and Mission Broadcasting, Inc.
Nexstar Broadcasting, Inc. and Mission Broadcasting, Inc. confirm the extension of their existing agreement for the sale of commercial time on WYOU, a Scranton, Pennsylvania broadcast station. The agreement, originally set to expire on September 30, 2014, will automatically renew for an additional ten years since neither party provided the required six months' notice to terminate. Both parties agree to continue under the current terms of the agreement.
Exhibit 10.2
September 15, 2014
Mr. Dennis Thatcher
Mission Broadcasting, Inc.
30400 Detroit Road
Suite 304
Westlake, OH 44145-1855
Re: Agreement for the Sale of Commercial Time for WYOU
Dear Dennis:
Nexstar Broadcasting, Inc. (“Nexstar”) and Mission Broadcasting, Inc. (“Mission”) are parties to an Agreement for Sale of Commercial Time for broadcast station WYOU, Scranton, Pennsylvania dated as of June 30, 2003 (as amended) (the “Agreement”), the initial term of which expires as of September 30, 2014. Pursuant to Section 1 of the Agreement, the term of the Agreement shall be extended for an additional ten (10) year term, unless either party provides at least six months notice of its intent to terminate the Agreement.
This letter is to confirm that neither Nexstar nor Mission has provided the requisite notice of termination for the Agreement; and it is the parties’ intent that the Agreement continue in effect pursuant to the terms thereof (as amended from time to time). Please confirm Mission’s agreement by signing this letter and returning it to my attention.
Thank you.
Sincerely, |
/s/ Elizabeth Ryder |
Elizabeth Ryder |
Senior Vice President & General Counsel |
Acknowledged and Agreed:
Mission Broadcasting, Inc.
By: |
| /s/ Dennis Thatcher |
|
| Dennis Thatcher |
|
| President |